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DevelopmentGeorgiaMixed-UseMultifamilyRetailSoutheast

EDENS, Crescent Break Ground on Retail, Residential Development in Atlanta’s Upper Westside

by John Nelson

ATLANTA — EDENS and Crescent Communities have broken ground on Phase II of Moores Mill, a mixed-use development in Atlanta’s Upper Westside neighborhood. Charlotte-based Crescent Communities, a multifamily developer, will build 345 units across three buildings over five acres called NOVEL Upper Westside. The complex will total 300,000 square feet and offer one- , two- and three-bedroom options. Amenities are set to include a fitness center, pool, courtyard, refined rooftop lounge and a dog park. EDENS, a national retail real estate owner, will develop 15,000 square feet of retail. The Columbia, S.C.-based developer built the 45,000-square-foot Publix in Phase I of Moores Mill and has invested in green space renovation at nearby Sara Gonzalez Park. Completion of Phase II is expected in 2020.

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DevelopmentFloridaMultifamilySoutheastStudent Housing

Bainbridge, Diamond Realty to Develop 492-Bed Student Housing Community Near University of Florida

by John Nelson

GAINESVILLE, FLA. — The Bainbridge Cos. has acquired an 11-acre site in Gainesville located near the University of Florida for the development of a 492-bed student housing community. The property — to be named Campus Circle Gainesville — will be developed in a joint venture with Diamond Realty Investments Inc. The four-story, garden-style community will offer shared amenities including an outdoor lounge and study area; resort-style courtyards; swimming pool with private cabanas; 24-hour fitness center with a cardio theater and yoga studio; clubhouse featuring lounge space and a game room; 24-hour private study space with group study areas and a large conference room; and dog-walking trails. The property is set to open prior to the 2020-2021 academic year.

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DevelopmentRetailSouth CarolinaSoutheast

Nexton, RealtyLink Announce 22 Restaurants, Stores Coming to Shopping Center Near Charleston

by John Nelson

SUMMERVILLE, S.C. — Nexton and RealtyLink Commercial have announced a list of 22 tenants that will occupy Nexton Square, a shopping center in Summerville that is set to open this summer. The vendors include Tropical Smoothie Café, The Bicycle Shoppe and Fuji Sushi, as well as other restaurants, apparel, beauty, fitness, entertainment and finance tenants. The first buildings are scheduled to be available to tenants for up-fit later this year. Nexton Square will be located in Summerville’s Nexton master-planned community, which is located about 25 miles northwest of downtown Charleston. The design team includes architect McMilan Padzen Smith Architects, civil engineer and landscape architect Seamon Whiteside, construction manager Landmark Construction and general contractor Ordner Construction.

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Company NewsFloridaSoutheast

Colliers International Acquires South Florida Brokerage Firm CREC

by John Nelson

CORAL GABLES, FLA. — Colliers International has acquired Coral Gables-based Continental Real Estate Cos. Commercial Properties Corp. (CREC) and its portfolio of more than 12.6 million square feet of office, industrial and retail space; and more than 100 employees across three offices in Florida. Terms of the deal were not disclosed. Warren Weiser and Carol Greenberg Brooks founded CREC in 1989. “We are thrilled to join Colliers and be part of a team that is aligned with our entrepreneurial culture and focus on service excellence. We are now ideally positioned to accelerate our growth in the Florida market by leveraging the Colliers global brand, infrastructure and relationships,” says Greenberg Brooks. This is Colliers’ fifth acquisition in the U.S. this year, says Dylan Taylor, president and chief operating officer of Colliers.

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GeorgiaLoansMixed-UseSoutheast

HFF Arranges $278.4M Loan for Colony Square Redevelopment in Atlanta

by Alex Tostado

ATLANTA — HFF has arranged $278.4 million in financing for the redevelopment of Colony Square, an office/retail complex in Midtown Atlanta. The loan will go to Houston-based Lionstone Investments and Cincinnati-based North American Properties for the project, which is already underway. The loan will retire the existing financing and fund future redevelopment plans. Blackstone Mortgage Trust provided the capital. The new Colony Square will feature more 1 million square feet of office and retail space. It will also feature iPic, a movie theater with nine auditoriums and farm-to-glass cocktails. Anticipated completion is late 2020.

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DevelopmentGeorgiaIndustrialSoutheast

Lincoln Property, Crow Holdings Break Ground on 251,466 SF Warehouse in Metro Atlanta

by Alex Tostado

LITHIA SPRINGS, GA. — Lincoln Property Co. Southeast and Crow Holdings Capital Real Estate have broken ground on a 251,466-square-foot speculative warehouse/distribution center called Factory Shoals Distribution Center in Lithia Springs. The site is located on Interstate 20, 15 miles west of downtown Atlanta. The center will feature a 185-foot deep truck court, 40 spaces for excess truck storage, 32-foot clear heights and motion-sensor lighting. The project is slated to be finished in summer 2019.

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DevelopmentMultifamilySoutheastVirginia

CPDC Breaks Ground on Adjacent Multifamily Buildings in Richmond’s Jackson Ward

by Alex Tostado

RICHMOND, VA. — Community Preservation and Development Corp. (CPDC) has broken ground on two adjacent apartment buildings in Jackson Ward district of Richmond. One of the apartment buildings will include 82 units, 46 of which will be at market price. The other will be a 72-unit affordable community for seniors moving in from Richmond’s Fay Towers. The Richmond Times-Dispatchreported in July that the project would cost $33 million. Amenities are set to include a fitness center, dog-grooming room, media room, and outdoor patio and grill area. S.L. Nusbaum realty will manage the property, which is expected to begin leasing in October 2019.

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GeorgiaIndustrialLeasing ActivitySoutheast

CHOA Leases 114,000 SF of Industrial Space in Stone Mountain, Georgia

by Alex Tostado

STONE MOUNTAIN, GA. — Children’s Healthcare of Atlanta (CHOA) has leased 114,000 square feet within Stone Mountain Industrial Park in Stone Mountain. The landlord, Atlanta-based Ackerman & Co., acquired the 4.1 million-square-foot industrial park in December 2016. Brett Buckner, Jimmy Stevens and Major Martin represented Ackerman internally. Brandon Wallace of Cushman & Wakefield represented CHOA, which has transformed the space to replicate a hospital wing to test systems and procedures for doctors and nurses. The warehouse is located 10 miles from CHOA’s new North Druid Hills campus in Atlanta.

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DevelopmentFloridaMixed-UseMultifamilySoutheast

Strategic Property Partners Breaks Ground on First Residential Building in $3B Water Street Tampa Project

by John Nelson

TAMPA, FLA. — Strategic Property Partners, LLC (SPP) has broken ground on Water Street Tampa’s first residential building, 815 Water Street, in Tampa. In addition to 420 rental residences, the dual-tower project will feature new dining, grocery and shopping options. The two towers will rise 21 and 26 stories and each tower’s roof will include an outdoor pool, fitness center, community kitchen, bar and club lounge. 815 Water Street Tampa is expected to open in late 2020. The two-tower project is part of SPP’s $3 billion mixed-use redevelopment, which will include more than 2 million square feet of office space; 1 million square feet of retail, cultural, educational and entertainment space; two new hotels totaling more than 650 rooms, including the city’s first five-star hotel; and the University of South Florida’s Morsani College of Medicine and Heart Institute. SPP is a partnership between Tampa Bay Lightning owner Jeff Vinik and Cascade Investment LLC. The design team for 815 Water Street includes New York City-based architect Kohn Pedersen Fox Associates (KPF), Toronto-based interior designer Cecconi Simone and Miami-based landscape architect Raymond Jungles Inc. This is KPF’s fifth project in Florida, but first in Tampa.

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