REBusinessOnline

Ten Capital, Somerset Properties Acquire Office Building in Fort Lauderdale for $82.5M

FORT LAUDERDALE, FLA. — Ten Capital Management and Somerset Properties have acquired Bayview Corporate Tower, a 12-story, 413,833-square-foot office building in Fort Lauderdale. The buyer and sales price were not disclosed, but multiple media outlets report that Bridge Investment Group sold the asset to the buyers for $82.5 million. The asset was 89 percent leased at the time of sale to 21 tenants. Bridge has invested more than $4.8 million in base building improvements at Bayview Corporate …

Acquisitions, Florida, Office, Southeast

Meridian Capital Arranges $51.3M Acquisition Loan for Apartment Complex in South Florida

CORAL SPRINGS, FLA. — Meridian Capital Group has arranged a $51.3 million acquisition loan for The Harbor, a 310-unit apartment complex in Coral Springs. An undisclosed regional balance sheet lender provided the seven-year loan, which features a fixed 3.4 percent interest rate, one five-year extension option and three years of interest-only payments followed by a 30-year amortization schedule. The Harbor, formerly known as Innovo Living on Atlantic, comprises 33 two-story buildings. The asset …

Acquisitions, Florida, Loans, Multifamily, Southeast

MetLife Provides $34.3M Refinancing Loan for Multifamily Community in Downtown Bethesda

BETHESDA, MD. — MetLife Investment Management has provided a $34.3 million refinancing loan for Element 28, a 101-unit multifamily community in downtown Bethesda. The loan features a floating interest rate and two one-year extensions. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a 24-hour concierge, resident lounge with complimentary coffee, temperature-controlled wine lockers, conference room, fitness studio, retractable glass-walled rooftop …

Loans, Maryland, Multifamily, Southeast

Robinson Weeks Signs Two Tenants to Industrial Leases Totaling 184,670 SF at Gillem Logistics Center in Metro Atlanta

FOREST PARK, GA. — Robinson Weeks Partners has signed two industrial tenants to occupy a total of 184,670 square feet within Building 400 at Gillem Logistics Center in the south Atlanta suburb of Forest Park. Cleveland-based North Coast Logistics will occupy 107,675 square feet beginning in October. Jacob Westfall of CBRE represented North Coast Logistics in its lease transaction. Orlando-based farming company Kalera Inc. will lease 76,995 square feet at the property, which is situated 12 …

Georgia, Industrial, Leasing Activity, Southeast

Greysteel Negotiates Two Sales of Apartment Communities in D.C. Totaling $21M

WASHINGTON, D.C. — Greysteel has negotiated the sale of The Waring and The Regent, two apartment communities in Washington, D.C. Urban Investment Partners acquired both assets for a total of $21 million. In the first deal, 1433 T Street Associates LLC sold The Waring, a 38-unit property located at 1433 T St., for $12.5 million. In the second deal, Mozart LLC sold The Regent, a 37-unit property located at 2517 Mozart Place NW, for $8.5 million. The Waring was built in 1909 and is situated …

Acquisitions, District of Columbia, Multifamily, Southeast

Amazon to Develop Fulfillment Center, Delivery Station in Little Rock Totaling 910,000 SF

LITTLE ROCK, ARK. — Amazon will develop afive-story, 825,000-square-foot fulfillment center at the Port of Little Rock in Little Rock. Slated for delivery in 2021, the property is expected to house 1,000 employees who will work alongside Amazon Robotics to pick, pack and ship small items to customers such as books, electronics and toys. The center will sit on 80 acres along Zueber Road, which, according to the Arkansas Democrat-Gazette, an Amazon entity paid $3.2 million for. Seattle-based …

Arkansas, Development, Industrial, Southeast

Joint Venture Unveils Plans to Build 357-Unit Multifamily Community Within Fenton Mixed-Use Project Near Raleigh

CARY, N.C. — A joint venture between Hines, Columbia Development and USAA Real Estate has unveiled plans for The Canopy at Fenton, a 357-unit multifamily community situated within the 69-acre Fenton development in Cary. The property will stand six stories high and offer studio, one-, two- and three-bedroom floor plans. In addition, 47 of the apartments will provide private terraces and loft-style units will be available on the ground floor. Communal amenities will include a fitness center, …

Development, Multifamily, North Carolina, Southeast

Additional 1.3M Americans File for First-Time Unemployment Assistance

WASHINGTON, D.C. — An additional 1.3 million Americans have filed for first-time unemployment assistance for the week ending July 4, according to the U.S. Department of Labor. Economists surveyed by Dow Jones expected just under 1.4 million claims. The most recent week continues a declining week-over-week trend, coming in at 99,000 fewer claims than the week ending June 27. The four-week rolling average was 19.1 million, down by 636,000 claims from the previous rolling …

District of Columbia, Southeast

CBRE Arranges Sale of Two Tampa Bay Apartment Complexes Totaling 598 Units

ST. PETERSBURG AND TAMPA, FLA. — CBRE has arranged the sale of a two-property apartment portfolio located in St. Petersburg and Tampa. The first property is Viera Bayside, a 208-unit property located at 500 110th Ave. N. in St. Petersburg. Communal amenities include a 24-hour business center, clubhouse, fitness center and a pool. Unit interiors feature granite countertops, as well as modernized lighting and plumbing fixtures. The second property is Veranda at Westchase, a 308-unit …

Acquisitions, Florida, Multifamily, Southeast

Royal Pets Market & Resort Leases 8,000 SF From Bromley at Midtown Tampa

TAMPA, FLA. — Royal Pets Market & Resort has signed a lease with Bromley Cos. at Midtown Tampa. The 8,000-square-foot space will be the flagship location for the company, which offers veterinary care, an indoor dog daycare and a pet spa. The space will be situated on the ground floor of Novel Midtown Tampa, which is expected to open later this year. Royal Pets Market joins other announced retail tenants such as Joffrey’s Coffee, True Food Kitchen and Whole Foods Market. Bromley Cos., …

Florida, Leasing Activity, Retail, Southeast
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