HILTON HEAD ISLAND, S.C. — The Town of Hilton Head Island has awarded its request for proposal (RFP) for the island’s first ever workforce housing community to Atlanta-based OneStreet Residential. The project, preliminarily named Northpoint, will feature 150 to 170 workforce housing units and will be located on an 11-acre tract of town-owned land. The project is envisioned to house the caregivers, teachers, medical professionals and first responders who work on Hilton Head Island. At least half of the units will be reserved for households earning between 60 to 80 percent of the area median income (AMI). OneStreet Residential was selected as the town’s preferred development partner after months of deliberation by town staff and an advisory committee, which included tours of the developer’s projects in Atlanta. OneStreet will begin site due diligence, site planning, engineering and architectural renderings. The development agreement is expected to go before Hilton Head Town Council for a vote in early 2024, with the commitment to maintain the Northpoint community as workforce housing forever.
OAKLAND PARK, FLA. — Newrock Partners has completed Oaklyn, an 11-story mixed-use tower located at 333 N. Federal Highway in Oakland Park, a city in South Florida’s Broward County. The project comprises 274 apartments and 19,000 square feet of ground-level retail space. Managed by Bozzuto, Oaklyn’s residences comprise studio, one- and two-bedroom apartments spanning from 451 to 1,172 square feet. Rental rates begin at $1,850, according to the property website. Amenities include Oak Three, a rooftop experience with an indoor/outdoor lounge, entertainment kitchen, communal games, art activations, resort-style pool deck, hot tub, outdoor dining and kitchen areas with grilling stations and oversized day beds. Other amenities include podcast studios, maker spaces, an indoor/outdoor fitness center, dog spa and a dog park. The design-build team includes general contractor First Florida and architect Kobi Karp Architecture & Interior Design Inc.
SNELLVILLE, GA. — Northside Hospital and Realty Trust Group (RTG) have opened a new 45,000-square-foot healthcare clinic in downtown Snellville, a suburb of Atlanta in Gwinnett County. RTG partnered with the Atlanta-based hospital system through the planning and development process, including land acquisition, zoning, design and construction phases. Northside is the operator of the two-story medical office, which features imaging, surgery and orthopedics services. Adjacent to the new medical center is a 7,500-squrae-foot sister building that houses an urgent care. The medical buildings are situated on a 4.6-acre site along Wisteria Drive within The Grove at Towne Center development.
SARASOTA, FLA. — Berkadia has brokered the sale of Reserve at Palmer Ranch, a 320-unit apartment community located at 4100 Winners Circle in Sarasota. Jason Stanton, Cole Whitaker and David Etchison of Berkadia represented the seller, California-based Strategic Holdings, in the transaction. John Koeijmans of Berkadia’s Dallas office arranged acquisition financing on behalf of the buyer, Wisconsin-based MLG Capital. The 10-year loan featured a fixed interest rate and full-term interest only payments. The loan amount and sales price were not disclosed. Built in 1990, Reserve at Palmer Ranch features primarily two- and three-bedroom apartments, as well as a fitness studio, two resort-inspired pools, bark park, car care center and a courtyard with communal games.
ACWORTH, GA. — Tobin Real Estate has arranged the $15 million sale of Acworth Crossing Shopping Center, a 120,829-square-foot retail center located on a 15.3-acre site along Cobb Parkway in Acworth, a northwest suburb of Atlanta. Built in 2006, the property’s tenant roster includes Crunch Fitness, PetSmart, popshelf and Dollar Tree. Louie Granteed of Tobin represented the seller, an entity doing business as Monarch at Acworth Crossing LLC, in the transaction. Collin Cambas and Johnny Craig of Matthews Real Estate Investment Services represented the buyer, an entity doing business as Acworth Properties LLC.
Internet connectivity is the digital equivalent of a foundation for any multifamily property. Residents want access for communications, entertainment, business and personal needs. Property operators need connections for management and reporting software resources. Good and reliable connections to the Internet, and a dependable Wi-Fi network as a way of distributing that access, are essential. Looking three to five years into the future, these connectivity needs become even more demanding and complex. The Internet of Things (IoT) creates a layer of interesting application and use cases for property owners. IoT defines the collective network of connected technology that enables communication between devices (“things”) and the cloud and/or among the devices themselves. IoT devices are the technology that creates smart home and buildings. IoT devices also support and simplify functions such as rental property management, energy usage reduction, maintenance cost reduction and more. “Looking into the future, IoT applications can make the property more efficient in surprising ways,” says Eran Dor, vice president of technology products at Pavlov Media. Leak detectors can provide early warning of flooding and appropriately shut off water before any significant damage occurs. Trash cans can be equipped with sensors that indicate when to collect, rather than requiring …
ATLANTA — Portman has opened Junction Krog District, a mixed-use building in Atlanta’s Inman Park neighborhood that features 135,000 square feet of Class A offices, private terraces and ground-level retail space. The development is situated across from the Krog Street Market food hall at the corner of Auburn Avenue and Irwin Street. The Atlanta-based developer has also signed Yuji, a Japanese dining concept by Kinjo Enterprise LLC, to join Junction Krog District’s retail mix on the ground level. Yuji, along with Italian dining concept YEPPA&co, will open in summer 2024. The Japanese restaurant will feature a walk-up window for to-go orders, two outdoor bars and a 1,670-square-foot patio connected to Junction Krog District’s 7,000-square-foot public porch, which is now open. The porch fronts the Atlanta BeltLine’s Eastside Trail. Adjacent to Junction Krog District, Portman recently purchased 1.3 acres where the firm will plan a second phase for the project.
NEW ORLEANS — Gas giant Shell has signed a lease at a 142,000-square-foot office building to be constructed in the 39-acre River District mixed-use neighborhood of New Orleans. Shell’s Gulf of Mexico operations headquarters will occupy the multi-floor property. Cypress Equities and Lauricella Land Co. have formed a joint venture to develop the building, which Gensler is designing. Located on Convention Center Boulevard, the project is scheduled to begin construction in 2024. Tim Relyea and Joe Peddie of Cushman & Wakefield represented Shell in the lease negotiations.
THEODORE, ALA. — Dorsey Development, an entity owned and operated by G. Paul Dorsey III, has purchased Island Road Shopping Center at 5827 Highway 90 W in Theodore. Winn-Dixie anchors the property, which totals 59,822 square feet. Other tenants at the center include Pizza Hut, Subway, Buddy’s Home Furnishings and Premier Nails. The seller and sales price were not disclosed.
CAPE CORAL, FLA. —Thompson Thrift has sold two retail buildings in Cape Coral totaling 24,000 square feet. Situated within Cape Coral Commons, the multi-tenant buildings each comprise 12,000 square feet. Tenants scheduled to open at the properties include First Watch, Mission BBQ, Firehouse Subs, Tire Kingdom, Paragon Healthcare, Crumbl Cookies, PJ’s Coffee and Visionworks. David Hoppe of Atlantic Retail arranged the sale on behalf of Thompson Thrift. A California-based buyer acquired the buildings for an undisclosed price. Cape Coral Commons also features a third multi-tenant building currently under construction, as well as four one- to two-acre outparcels.
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