Southeast

Innovatus Capital Buys Newly Built Office Building in Atlanta’s Cumberland/Galleria Submarket

by Camren Skelton September 11, 2018

ATLANTA — Innovatus Capital Partners LLC has acquired 3400 Overton, a 172,756-square-foot office building located in Atlanta’s Cumberland/Galleria office submarket. TPA Group and USAA Real Estate delivered the seven-story project in October 2017. The all-glass building is situated at the southeast corner of the Interstate 75 and I-285 interchange at the intersection of Akers Mill Road and Cumberland Boulevard. The sales price was not disclosed. The building is 80 percent leased to tenants including Synovus Financial Corp. and McGriff, Seibels & Williams Inc. Lincoln Property Co. is handling the property’s leasing assignment and management services. Onsite amenities at 3400 Overton include a modern lobby, fitness center, Synovus bank branch, café, grab-and-go coffee bar, indoor/outdoor Wi-Fi, covered parking and an open courtyard overlooking the Chattahoochee National Forest. A 140-room hotel planned by Intercontinental Hotels Group is scheduled to open adjacent to the property in 2019.

September 11, 2018

Development Multifamily North Carolina Southeast

Marsh Properties Breaks Ground on 263-Unit Apartment Community in Charlotte

by Camren Skelton September 11, 2018

CHARLOTTE, N.C. — Marsh Properties has broken ground on The Edge@Sedgefield, a 263-unit apartment community located within the Sedgefield mixed-use redevelopment in Charlotte. The community will include a mix of studio to two-bedroom apartment units ranging in size from 600 to 1,450 square feet. Community amenities will include five private courtyards, bike storage, a dog wash station, dog park, fitness center with yoga studio, pool, clubroom and a rooftop terrace with views of South End and Uptown Charlotte. The development team for The Edge@Sedgefield includes BB+M Architecture, Samet Corp. and LandDesign. BB&T is providing construction financing for the project. The first units at the community are expected to deliver in the spring of 2020. At full build-out, Sedgefield will include approximately 700 residential units, the redevelopment of 30,000 square feet of retail and the potential for 100,000 square feet of office space. Sedgefield Shopping Center, a 68,000-square-foot shopping center developed by Marsh in partnership with Aston Properties, opened at the development last year. The center is home to Harris Teeter, Nexter Juice Bar, Holler & Dash and The Waterman. The Edge@Sedgefield will be located adjacent to the retail center.

September 11, 2018

Florida Hospitality Loans Southeast

Berkadia Arranges $17.5M Construction Loan for New Hotel in Tallahassee

by Camren Skelton September 11, 2018

TALLAHASSEE, FLA. — Berkadia has arranged a $17.5 million construction loan for Hotel Indigo, a 143-room hotel that will be developed in Tallahassee. Brad Williamson and Kyle Ryan of Berkadia arranged the five-year, fixed-rate loan through a regional bank on behalf of the developer, Urban Street Development. The hotel will be one of the final pieces of the company’s Florida State University (FSU) CollegeTown District. The master-planned mixed-use community already includes 982 student housing beds, 60,000 square feet of retail and restaurant space and two parking garages. Urban Street broke ground on the $125 million project in 2013. Situated at 826 Gaines St., Hotel Indigo will be located adjacent to FSU and steps away from Doak Campbell Stadium, home to FSU’s Seminole football team. Designed by hospitality design firm ai3, the hotel will feature a contemporary design and an onsite restaurant and bar. Hotel Indigo is a chain of boutique hotels and part of InterContinental Hotels Group.

September 11, 2018

Development Florida Industrial Southeast

Flagler, Ware Malcomb Complete Build-to-Suit Industrial Facility in Miami-Dade County for Aerospace Firm

by Camren Skelton September 11, 2018

HIALEAH, FLA. — Construction is complete on the new KLX Aerospace Solutions global headquarters and distribution hub located in Hialeah, a city in Miami-Dade County. Ware Malcomb provided master planning and architectural design services for the 700,000-square-foot project, which is part of the first phase of the planed 95-acre Countyline Corporate Park, a logistics park developed by Flagler Global Logistics. KLX Aerospace Solutions is a distributor of aerospace hardware and provider of supply chain management solutions for Original Equipment Manufacturers (OEMs), Maintenance and Repair Operations (MROs) and airlines across the globe. The new facility features concrete tilt-up construction, metal canopy parking structure, electric car charging stations, a café, recreational area and outdoor seating. Turner Construction was the general contractor for the project.

September 11, 2018

Features Georgia Hospitality Southeast Southeast Feature Archive

Economist: Hotel Sector Benefitting from Strong Consumer Confidence, Uptick in Income and Corporate Profits

by John Nelson September 11, 2018

ATLANTA — Roger Tutterow, director of Kennesaw State University’s Econometric Center, encourages hoteliers to be optimistic about today’s historic level of consumer confidence because it directly impacts the leisure travel side of the hospitality sector. In late August, the consumer confidence index increased to 133.4, its highest level since October 2000, according to The Conference Board. The index gauges consumers’ confidence levels about business and labor conditions. “This is still a consumer-driven economy, and it’s very important that we maintain those confidence levels,” said Tutterow, who was one of the featured speakers at Atlanta Lodging Outlook 2019. The Atlanta Convention & Visitors Bureau, Cornell Hotel Society and the Georgia Hotel & Lodging Association jointly hosted the annual event, which took place on Tuesday, Sept. 4 at the InterContinental Buckhead hotel in Atlanta. Spending Power Impacts Hotel Performance Personal income gains and corporate profits also affect hotel absorption as these determine the spending power of leisure travelers and businesses. According to the Bureau of Economic Analysis, personal income increased by 3.5 percent over the past six months, while corporate profits rose 20 percent during the same period. “You’ve got support both from the personal income and corporate profits side,” said Tutterow …

September 11, 2018

Civic Development Georgia Southeast

City of Atlanta Begins First Phase of 280-Acre Park in Westside Area

by Camren Skelton September 10, 2018

ATLANTA — The City of Atlanta has broken ground on the first phase of Westside Park at Bellwood Quarry in Atlanta’s Westside area. Expected to be the largest park in Atlanta, the first phase will include a signature gateway and trails leading to an overlook area for views of a quarry-turned-reservoir. Upon completion, the park will encompass 280 acres, nearly 100 acres larger than Piedmont Park in Atlanta’s Midtown district. The park will connect the Proctor Creek Greenway and Chattahoochee River Corridor with the Atlanta BeltLine, a loop trail that will eventually span 22 miles and connect 45 intown neighborhoods in Atlanta. Architecture firm HGOR is designing the park. The quarry-turned-reservoir will take on the role of Atlanta’s major emergency water source, increasing the city’s drinking water supply from three days to more than 30 days. The surrounding park will feature elements of green infrastructure, which should enhance water quality and ground water infiltration. HGOR is collaborating on the development with partner leaders Reeves Young and CERM. Other project team members include Portman & Associates, Long Engineering, EcoWorks, Full Circle Communication, Denyse, BioHabitats, Sherwood Design Engineers, S.L. King & Associates and Sykes Consulting. According to The Atlanta Journal Constitution, the park …

September 10, 2018

Acquisitions Georgia Industrial Southeast

Monmouth Acquires New Industrial Building Leased to FedEx in Northeast Georgia for $61.1M

by Camren Skelton September 10, 2018

BRASELTON, GA. — Monmouth Real Estate Investment Corp. has acquired a newly constructed industrial building in Braselton, roughly 50 miles northeast of Atlanta, for $61.1 million. Delivered earlier this year, the 373,750-square-foot building is net-leased for 15 years to FedEx Ground Packaging System. The facility is situated on 93 acres at 650 Braselton Parkway off of Interstate 85. New Jersey-based Monmouth’s portfolio includes 111 properties totaling 21.2 million square feet.

September 10, 2018

Development Office South Carolina Southeast

Holder Properties Underway on 120,000 SF Office Building Near Charleston

by Camren Skelton September 10, 2018

MT. PLEASANT, S.C. — Holder Properties is underway on Portside, a 120,000-square-foot office building located within Ferry Wharf, a master-planned development in Mt. Pleasant that includes office, retail, hospitality and residential projects. The development is located at the foot of the Arthur Ravenel Jr. Bridge along the Charleston Harbor. Holder Properties broke ground on Portside in March. The five-story building is approximately 45 percent preleased, including a recently executed lease with Serendipity Labs Coworking. Portside will share a parking deck with a new hotel under construction at Ferry Wharf. The office building will be available for occupancy in spring 2019. McMilan Pazdan Smith Architecture is designing the building, and Freese Johnson is the general contractor.

September 10, 2018

Development Florida Mixed-Use Retail Southeast

Tavistock to Build Entertainment Venue Within Orlando’s Lake Nona Using Shipping Containers

by Camren Skelton September 10, 2018

ORLANDO, FLA. — Tavistock Development Co. has unveiled plans for Boxi Park at Lake Nona, an outdoor entertainment venue located within Lake Nona Town Center, a 100-acre mixed-use development that anchors the master-designed Lake Nona community in Orlando. The 30,000-square-foot venue will be built using repurposed shipping containers, and will feature a mix of restaurants and bars, beach volleyball courts, a fenced dog park, playground and a live entertainment venue. The park will be built using 12 containers arranged in one- and two-story configurations. The structure allows the containers to be moved as Lake Nona Town Center expands. Boxi Park is scheduled to open in December.

September 10, 2018

Acquisitions Retail Southeast Tennessee

HFF Brokers $14.4M Sale of Shopping Center in Metro Nashville

by Camren Skelton September 10, 2018

BRENTWOOD, TENN. — HFF has brokered the $14.4 million sale of Mallory Corners, a 70,000-square-foot shopping center in Brentwood, located roughly 10 miles south of Nashville. Jim Hamilton and Shea Petrick of HFF arranged the transaction on behalf of the seller, the estate of Charles S. Ackerman. Leo Weiner of Ackerman Retail, a division of Ackerman & Co., is acting as an advisor to the estate. Barnes & Noble and Electronic Express anchor Mallory Corners, which was 96 percent leased at the time of sale. Additional tenants include Brilliant Sky Toys & Books, Sprint, Hoover Paint, AAA Autoclub and Play It Again Sports.

September 10, 2018

Newer Posts

Older Posts