REBusinessOnline

Phoenix Investors Acquires 760,000 SF Industrial Plant in Lynchburg, Virginia

LYNCHBURG, VA. — Phoenix Investors has acquired the former LSC Communications Printing Co. Inc. plant in Lynchburg. The 760,000-square-foot property is situated on 50 acres at 4201 Murray Place. The asset features 32 dock doors, 62 slots for trailer storage, 523 passenger parking spots, eight drive-in doors and two interior rail spurs supported by Norfolk Southern.The property has sat vacant since LSC filed for Chapter 11 bankruptcy after the U.S. Department of Justice blocked a proposed …

Initial Jobless Claims Rise for Second Straight Week

WASHINGTON, D.C. — Initial jobless claims reached 778,000 for the week ending Nov. 21, an increase of 30,000 from the previous week. The U.S. Department of Labor released its findings a day earlier than usual due to the Thanksgiving holiday. Economists surveyed by Dow Jones expected the weekly total to be 733,000. The four-week moving average increased slightly to 748,500, up from the previous moving average of 743,500. Continuing claims, for which data lags a week, fell by 299,000 for the …

Berkadia Negotiates $33.3M Sale of Multifamily Community in North Charleston

NORTH CHARLESTON, S.C. — Berkadia has negotiated the $33.3 million sale of Palmetto Creek Townhomes, a 260-unit multifamily community in North Charleston. The property offers one-, two- and three-bedroom floor plans, 75 percent of which were recently renovated. According to Apartments.com, rents range from $1,000 per month to $1,175. Communal amenities include a pool, fitness center, playground and a grilling area. Palmetto Creek is situated at 3311 Mountainbrook Ave., 16 miles northwest of …

JLL Arranges $26.3M Sale of Publix-Anchored Shopping Center in Metro Orlando

KISSIMMEE, FLA. — JLL has arranged the $26.3 million sale of Osceola Village, a 122,845-square-foot, Publix-anchored shopping center in Kissimmee. The center, which was delivered in 2008, was 82 percent leased at the time of sale to tenants including DaVita Kidney Care, Orlando Health and Visionworks. The asset is situated on 20 acres at 3040 Dyer Blvd., 22 miles south of downtown Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, an affiliate of …

Artisan Pop-Up Market to Open Within Buckhead Village in Atlanta

ATLANTA — Village Supply, a pop-up market focusing on women- and minority-owned businesses, will open within Buckhead Village in Atlanta. Vendors will be able to showcase their products at the store, which is situated at 272 Buckhead Ave., between Warby Parker and Bella Cucina. The store will be open from 10 a.m. to 7 p.m. Thursday to Saturday, and from noon to 5 p.m. Sundays. The vendor lineup will rotate regularly. The initial lineup includes Cheese Me, which is open through November; Made …

Tiger Properties Breaks Ground on 380-Bed Student Housing Community Near Clemson University

CLEMSON, S.C. — Tiger Properties has broken ground on Cambridge Creek Clemson, a 380-bed student housing community located two miles from the Clemson University campus in South Carolina. The property will offer two- and three-bedroom units. Communal amenities will include a 5,000-square-foot clubhouse with a fitness center, study lounge, computer lab and game room. Outdoor amenities will include a pool, open-air pavilion, grilling stations and green space. The project is scheduled to deliver …

CoStar to Acquire Software Platform Homesnap for $250M, Plans to Expand Service to Commercial Real Estate Agents

WASHINGTON, D.C. — CoStar Group has entered into an agreement to acquire Homesnap Inc. for $250 million. Homesnap is an online and mobile software platform designed for real estate agents. According to CoStar, more than 300,000 real estate agents use the app an average of 30 times per month. Andy Florance, founder and president of CoStar, says the Washington, D.C.-based data firm will expand Homesnap’s residential platform to commercial brokers. Homesnap, also based in D.C., employs about …

EGS to Develop 67,174 SF Industrial Facility in Birmingham for Ferguson Enterprises

BIRMINGHAM, ALA. — EGS Commercial Real Estate Inc. will develop a 67,174-square-foot build-to-suit industrial facility in Birmingham. Ferguson Enterprises LLC, a distributor of commercial and residential plumbing supplies, will occupy the property upon completion. The developer expects to commence construction in December and plans to deliver the asset 12 months later. The project includes approximately 15,000 square feet for offices and customer pickup, as well as nearly 2.5 acres of paved …

Joint Venture Purchases Two Historic Mixed-Use Buildings in Downtown Baltimore Totaling 90,000 SF

BALTIMORE — A joint venture between Kemp Byrnes and Brad Byrnes of Byrnes & Associates Inc. and local entrepreneur Dave Gupta has purchased two historic buildings in downtown Baltimore for an undisclosed price. The assets, situated at 225 and 233 E. Redwood St., combine to span 90,000 square feet of office and retail space. The buyers plan to implement a $5 million renovation and rebranding into the properties. The four-story building at 225 E. Redwood St. will be known as the Vickers …

Berkadia Arranges $33.8M Sale of Multifamily Community in Savannah

SAVANNAH, GA. — Berkadia has arranged the $33.8 million sale of Georgetown Woods/Waterford Plantation, a 248-unit multifamily community in Savannah. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a pool, fitness center, clubhouse and tennis courts. The property is situated at 1 Saint George Blvd., 13 miles south of downtown Savannah. Mark Boyce and Blake Coffey of Berkadia represented the seller, South Carolina-based Waterford Plantation LLC, in the …

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