FORT MILL, S.C. — Cushman & Wakefield has brokered the $40 million sale of the Daimler Building, a 150,164-square-foot office building in Fort Mill, roughly 20 miles south of Charlotte in South Carolina. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield, along with Campbell Walker and Ridr Knowlton of Lincoln Harris, arranged the transaction on behalf of the undisclosed seller. Cantor Fitzgerald Investors LLC acquired the three-story building, which is fully leased to Daimler Trucks North America, a wholly owned subsidiary of Daimler AG. The building serves as the East Coast operations hub for Daimler Trucks North America, which has occupied the building since it was constructed in 2008.
ORLANDO, FLA. — HFF has arranged joint venture equity and construction financing for the development of Vineland Pointe, a 470,000-square-foot shopping center under construction in Orlando. Danny Finkle and Brian Gaswirth of HFF arranged the joint venture equity partnership with LaSalle Investment Management on behalf of the developer, O’Connor Capital Partners. The HFF team subsequently arranged a construction loan through Wells Fargo Bank on behalf of the LaSalle-O’Connor partnership. The three-phase Vineland Pointe will be home to tenants such as Lucky’s Market, Ross Dress for Less, Marshalls and Burlington. Site work at the property is underway, and the project is slated for completion by mid-2019.
GREENVILLE, S.C. — Entertainment concept Topgolf plans to open a new location at Garlington North, a 77-acre mixed-use project under development at Interstate 85 and Pelham Road in Greenville. Andy Misiaveg and Darrell Palasciano of The Shopping Center Group represented both Topgolf and owner/developer RealtyLink LLC in the lease negotiations. TSCG is the exclusive leasing advisor for the development. The three-story Topgolf venue will be situated on 13.5 acres in the northwest corner of the site, and will include 72 climate-controlled hitting bays that can host up to six players at a time. The facility will be the first Topgolf in South Carolina and is expected to open in summer 2019. Additional plans for the first phase of Garlington North include 24 acres of green space and preserved wetlands. There are three additional parcels available for sale or ground lease, and TSCG is pursuing restaurants, hotel chains, entertainment venues, retail and office tenants to round out Phase I. RealtyLink is considering retail, office, industrial and/or flex space for the second phase of the project. Site work is currently underway, but an additional construction timeline was not disclosed.
MEBANE, N.C. — KeyBank Real Estate Capital has provided a $15.5 million Fannie Mae loan for the refinancing of Mebane Ridge Assisted Living, a 65-unit seniors housing property in Mebane, roughly 25 miles northwest of Durham. Charlie Shoop of KeyBank arranged the 10-year loan with two years of interest-only payments and a 30-year amortization schedule. The name of the borrower was not disclosed, but the property website lists Ridge Care Inc. as the owner/operator. The one-story Mebane Ridge Assisted Living was constructed in 2014 and includes assisted living and memory care units.
CHATTANOOGA, TENN. — Capstone Apartment Partners has arranged the $10 million sale of The Clemons Lofts, a 54-unit multifamily community in downtown Chattanooga. The six-story building was originally constructed in 1918 as an office headquarters, but was renovated into an apartment community with 7,922 square feet of ground-floor retail space in 2016. Adam Klenk, Michael Sohr and A.J. Klenk of Capstone arranged the transaction on behalf of the buyer, California-based TMC Group, as well as the seller, Chattanooga-based Via Nova Development. Clemons Lofts features a rooftop terrace with a dog park, Nest thermostats, fingerprint security access, bike storage, fitness center and an on-site grocer — Street Corner Deli/Market.
HERNDON, VA. — Harbor Group International LLC (HGI) has purchased One Dulles Tower, a 13-story office building located in Herndon, a northern Virginia suburb roughly 24 miles west of Washington, D.C. Federal Capital Partners (FCP) sold the 403,622-square-foot asset to HGI for $226 million. Following the departure of its anchor tenant, FCP landed another company in early 2017, Amazon Web Services (AWS). The cloud-computing services provider is the sole occupant of One Dulles Tower, according to FCP. “This is a Class A property with a top-tier tenant in an irreplaceable location in the Dulles Technology Corridor,” says Richard Litton Jr., president of HGI. Last summer, former Virginia Gov. Terry McAuliffe announced that the Amazon.com (NASDAQ: AMZN) subsidiary chose the office tower for its East Coast corporate hub, a move that could ultimately bring up to 1,500 jobs to the Fairfax County area. One Dulles Tower is located within the Woodland Park master-planned development, giving AWS staffers convenient access to more than 140,000 square feet of retail and restaurants. Other walkable attractions include a hotel and five-acre park. The property is also situated within a half-mile of both the future Herndon and Innovation Center Silver Line Metro stations, as well as …
WASHINGTON, D.C. — JBG Smith has formed a joint venture with Canada Pension Plan Investment Board (CPPIB) to develop and own 1900 N Street, a $225 million office development under construction in Washington, D.C.’s central business district. CPPIB will invest approximately $101 million in the 11-story building, giving it a 45 percent stake in the project. JBG Smith will continue to develop, manage and lease the asset. The property was 29.6 percent preleased as of the third quarter of 2017. International law firm Goodwin Procter LLP has preleased 80,329 square feet at the building, according to the Washington Business Journal. JBG Smith’s portfolio comprises more than 20 million square feet of office, multifamily and retail assets in the D.C. area. As of Dec. 31, 2017, the CPP Fund totaled $337.1 billion.
HUNTERSVILLE, N.C. — Greycor Construction Co. Inc. has completed the 324,480-square-foot expansion of a manufacturing and distribution facility in Huntersville leased to Pactiv LLC, a food packaging company. Prairie Brookwood LLC owns the facility, which is located at 14201 Meacham Farm Drive, roughly 15 miles north of Charlotte. The facility remained fully operational during the expansion, which more than doubled the size of the building. The $14 million expansion included eight concrete placements of roughly 40,000 square feet each, 70 concrete tilt-up walls, structural steel, metal decking, TPO roofing and 35 new loading docks. In addition, the build-out created new jobs in the area. The original facility was constructed more than 10 years ago and was the first building within Commerce Station Park, a public-private partnership between Prairie Brookwood and the towns of Cornelius, Davidson and Huntersville.
MIAMI — Madison Realty Capital has provided a $26 million first mortgage loan for the development of Triton Center, a new mixed-use project in Miami. The loan is collateralized by two development sites located at 7880 and 8540 Biscayne Blvd. The 7880 Biscayne Blvd. site currently houses a vacant 11-story office building that was previously home to the U.S. Immigration and Naturalization Service (INS). The undisclosed borrower acquired the site in 2013 and has since demolished the interior of the building, with plans to convert it into a 139-room Hilton Garden Inn hotel. Triton Center will also include two apartment buildings totaling 324 units, 585 parking spaces and 25,000 square feet of retail space. Stantec will design the development. The 8540 Biscayne Blvd. site comprises six sub-parcels. The developer plans to construct an additional large-scale multifamily community at the site. A timeline for the projects was not disclosed.
CAPE CORAL, FLA. — Marcus & Millichap has brokered the $13.4 million sale of Crossings at Cape Coral, a 168-unit affordable housing community located at 1150 Hancock Creek S. Blvd. in Cape Coral. Evan Kristol of Marcus & Millichap arranged the transaction on behalf of the seller, a limited liability company, and the buyer, a private investor. Crossings at Cape Coral features a fitness center, pool, playground, laundry facilities, car wash area, business center and a volleyball court. All of the units at the property are reserved for residents earning 60 percent or less of the area median income.