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Preiss, Crow Holdings Acquire 752-Bed Student Housing Community Near Florida State University

TALLAHASSEE, FLA. — A joint venture between The Preiss Co. and a private equity fund advised by Crow Holdings Capital has acquired Quantum on West Call, a 752-bed student housing community located near Florida State University in Tallahassee. The property offers one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Communal amenities include a 24-hour fitness center, pool, yoga center, clubhouse, theater, cyber lounge, individual study nooks, group study spaces …

First-Time Weekly Jobless Claims Fall to 787,000, A New Pandemic Low

WASHINGTON, D.C. — The number of Americans filing for first-time unemployment insurance fell to 787,000 for the week ending Oct. 17, according to the U.S. Department of Labor. The most recent figure is the lowest weekly total since the onset of the coronavirus pandemic in mid-March but is still about four times higher than February of this year when totals hovered around 200,000. Economists surveyed by Dow Jones expected claims to reach 875,000 for the week.The four-week moving average …

Chesterfield, Stonemont Financial Sign Bicycle Manufacturer to 1.1 MSF Industrial Lease Near Port of Savannah

RINCON, GA. — Chesterfield and development partner Stonemont Financial have signed Pacific Cycle Inc. to a 1.1 million-square-foot industrial lease within Georgia International Trade Center in Rincon. Pacific Cycle is the parent company of bicycle brands including Schwinn, Mongoose and Kid Trax. The tenant fully occupies Building 2B of the property, which is situated at 2004 Trade Center Parkway, 16 miles from the Port of Savannah. Chesterfield and Stonemont recently delivered Phase I of …

Atlantic | Pacific Purchases 312-Unit Multifamily Complex in Metro Atlanta

DUNWOODY, GA. — Atlantic | Pacific Cos. (A|P) has purchased The Parc at Dunwoody Apartments, a 312-unit complex in Dunwoody. The property offers one-, two- and three-bedroom floor plans ranging from 718 to 1,346 square feet. Communal amenities include a pavilion, fitness center, playground and two pools. The asset is situated at 1067 Pitts Road, 17 miles north of downtown Atlanta. The Miami-based buyer purchased the community via its equity fund, Blue Atlantic Partners Fund III. A|P affiliate …

Neuman Commercial Group Arranges $13.2M Sale of Retail Center in Hagerstown, Maryland

HAGERSTOWN, MD. — Neuman Commercial Group LLC has arranged the $13.2 million sale of Hagerstown Shopping Center, a 124,000-square-foot shopping center in Hagerstown. The property was fully leased at the time of sale to 16 tenants including Aldi, Family Dollar, Mr. Tire, AutoZone, McCormick Paints, Super Shoe and Papa John’s. Hagerstown Shopping Center is situated at 503 Dual Highway, less than one mile from downtown Hagerstown and eight miles south of the Maryland-Pennsylvania state border. …

Gilbane Starts Construction of 978-Bed Student Housing Complex Near University of Maryland

COLLEGE PARK, MD. — Gilbane Development Co. has started construction on Tempo, a 978-bed student housing complex near the University of Maryland in College Park. The community will comprise 296 units with studio to five-bedroom floor plans. Units will be fully furnished and will feature stainless steel appliances, granite countertops, washers and dryers, walk-in closets and flat-screen TVs. Communal amenities will include study lounges, a fire pit, clubhouse, pool, sundeck, fitness center, …

CBRE: More Than 5 MSF of Office Sublease Available in Metro Atlanta, Highest Total Since 2010

ATLANTA — There has been 2.5 million square feet of sublease space added to the Atlanta office market since the beginning of March, bringing the total to more than 5 million square feet, the highest the metro area has posted since 2010, a recent study from CBRE has found. Nearly 1.1 million square feet was added to the inventory in August and September alone. Of the 18 industries in the study that are tracked, companies involved in the tech sector have added the most inventory (29 percent) …

MAC Realty Advisors Arranges $72.5M Loan for Multifamily Development in Metro D.C.

NORTH BETHESDA, MD. — MAC Realty Advisors has arranged a $72.5 million construction-to-permanent loan for East Village at North Bethesda Gateway, a 335-unit multifamily community in North Bethesda. The borrower/developer, a partnership between Foulger-Pratt and Promark Partners, expects to deliver the asset by the end of 2020. The property is located at 5616 Nicholson Lane, 11 miles north of downtown Washington, D.C., on the former site of White Flint Mall. Andrew McAllister, Nick Rubenstein …

Konover South Breaks Ground on 56,600 SF Retail Center in South Florida

MIRAMAR, FLA. — Deerfield Beach, Fla.-based Konover South LLC has broken ground on Miramar Park Place, a 56,600-square-foot retail center in Miramar. Tenants, which include Flannigan’s, World of Beer, Jersey Mike’s and Starbucks, are expected to open in summer 2021. Konover South, in partnership with Master Development Partners of Dania Beach, Fla., purchased the property in October 2019. R.A. Rodgers Construction Co., based in Altamonte Springs, Fla., is the general contractor. City …

TerraCap Acquires Office Park Near Orlando Airport for $24M

ORLANDO, FLA. — TerraCap Management LLC has acquired Airport Business Center, a six-building, 196,000-square-foot office/flex park in Orlando. The property is situated at 5730 S. Semoran Blvd., four miles north of Orlando International Airport. The asset was 88 percent leased at the time of sale to tenants including law firm Hogan PA, Reliance Plumbing & Drain Cleaning, Southeast Airport Services Inc. and US Marine Corps Recruiting. TerraCap hired Foundry Commercial LLC to lease the …

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