Southeast

RJ Thieneman, Seay Properties Acquire 140,000 SF Shopping Center in Lexington

by Camren Skelton August 8, 2018

LEXINGTON, KY. — RJ Thieneman, in partnership with Seay Properties and a group of private investors, has acquired Regency Centre, a 140,000-square-foot shopping center located at 2325 Nicholasville Road in Lexington. The sales price and name of the seller were not disclosed. Regency Centre is home to tenants such as Kroger, T.J. Maxx, Five Below, Pet Supermarket, Title Boxing Club, IHOP and BB&T. The acquisition marks the third purchase in Central Kentucky for RJ Thieneman, which also owns and manages Franklin Square in Frankfort and Kroger Plaza in Winchester.

August 8, 2018

Acquisitions District of Columbia Multifamily Southeast

CIM Group Purchases Newly Constructed, 319-Unit Apartment Community in D.C.

by Camren Skelton August 8, 2018

WASHINGTON, D.C. — CIM Group has acquired Trellis House, a newly constructed, 319-unit apartment community located at 907 Barry Place N.W. in Washington, D.C., for an undisclosed price. Gateway Investment Partners and RISE: A Real Estate Co., completed construction on the six-story community earlier this year, according to local media reports. The LEED-certified building includes a mix of studio to two-bedroom units, as well as townhomes. Community amenities include a 12,000-square-foot courtyard and pool deck with fireplaces and grill stations; fitness center with spin stations and a yoga studio; club and game room; test kitchen, coworking area; rooftop observation deck; and a pet spa. In addition, Trellis House includes 11,000 square feet of ground-floor retail space. The community is located adjacent to Howard University and is proximate to the Green Line subway that provides connections to the entire Metro network.

August 8, 2018

Industrial Leasing Activity South Carolina Southeast

McCraney Signs 507,512 SF Lease with Third-Party Logistics Provider in Metro Charlotte

by Camren Skelton August 8, 2018

ROCK HILL, S.C. — McCraney Property Co. has signed a 507,512-square-foot lease with NFI at Logistics 77 @ Riverwalk in Rock Hill, roughly 27 miles south of Charlotte in South Carolina. NFI, a supply chain solutions provider and one of the primary third-party logistics providers to Amazon, will be the sole tenant at the facility. Warren Snowdon and David Hanna of Foundry Commercial arranged the lease on behalf of McCraney, which developed the building. Logistics 77 @ Riverwalk is located within Riverwalk Business Park, a 1,000-acre mixed-use project that includes housing, retail, office and industrial properties.

August 8, 2018

Development Florida Retail Southeast

Topgolf to Open Second Miami-Area Location on Friday

by Camren Skelton August 8, 2018

DORAL, FLA. — Golf entertainment concept Topgolf will open its second Miami-area location on Friday, Aug. 10. The three-level, 65,000-square-foot venue is located at 11850 N.W. 22nd St. in Doral, roughly 15 miles northwest of Miami. Topgolf features food and beverage options, big screen TVs, private event spaces and music in climate-controlled hitting bays. The entertainment concept has four existing locations in Florida in Jacksonville, Miami Gardens, Orlando and Tampa. The Doral location marks the brand’s 45th venue worldwide.

August 8, 2018

Acquisitions District of Columbia Southeast Top Stories

Paramount to Sell 208,776 SF Office Building in Washington D.C. for $220M

by David Cohen August 8, 2018

WASHINGTON, D.C. — New York-based real estate investment trust Paramount Group has agreed to sell 2099 Pennsylvania Ave., a 12-story, 208,776-square-foot office building in Washington, D.C. for $220 million. The buyer is undisclosed. Designed by architectural firm Pei Cobb Freed & Partners, the building is situated in the heart of the nation’s capital, within walking distance of the White House, U.S. Treasury and Executive Office Building. The floor-to-ceiling glass façade and outdoor terraces offer views of national monuments, the Potomac River, White House and the city skyline. The LEED Gold-certified property features 24-hour security, floor sizes ranging from 12,100 to 17,500 square feet, a two-story marble lobby, tenant-only fitness center and on-site parking. Paramount acquired the building in 2012 from Vico Capital for $155 million. At the time, the property had large blocks of vacancy. “We have been creating value at 2099 Pennsylvania Ave. by increasing leased occupancy to 98.5 percent from 31.6 percent. With this sale, we are harvesting that value,” says Albert Behler, CEO and president of Paramount. “Our strong leasing team converted an asset with large blocks of vacancy into one of the best Class A properties in the Washington, D.C. market, valued at over $1,050 per square …

August 8, 2018

Acquisitions Florida Georgia Healthcare North Carolina Southeast Tennessee Virginia

Catalyst HRE Acquires Healthcare Portfolio Located Across Eight States for $150M

by Camren Skelton August 7, 2018

PENSACOLA, FLA. — Pensacola-based Catalyst Healthcare Real Estate (Catalyst HRE) has acquired a 21-property healthcare portfolio for $150 million. Of the properties, 17 were purchased directly from Physicians Realty Trust. The portfolio is located across eight states and totals 530,182 square feet. Florida has the most significant square footage of buildings at 149,824, and Tennessee has the largest number of buildings at six. The rest of the properties are located in Georgia, Texas, Virginia, Illinois, Indiana and North Carolina. Regional and hospital orthopaedic, oncology, neurology and surgical practices represent 40 percent of the portfolio’s leased space; primary care and internal medicine practices of regional and hospital tenants represent 33 percent; and women’s health and gastroenterology combined represent 10 percent of the leased space. The remainder of the portfolio is leased to physical therapy, imaging, behavioral health and pain management providers. Capital One provided senior debt financing for the acquisition.

August 7, 2018

Development Multifamily South Carolina Southeast

Beach Co. Breaks Ground on Mixed-Use Building in Charleston’s Historic District

by Camren Skelton August 7, 2018

CHARLESTON, S.C. — The Beach Co. has broken ground on The Jasper, a 12-story mixed-use building located at 310 Broad St. in Charleston’s Harleston Village neighborhood. The property, situated at the western gateway to Charleston’s historic district, will feature views of the Ashley River and offer 75,000 square feet of office space, 219 multifamily units and 25,000 square feet of ground-floor retail and restaurant space. The residential portion of the project will feature a rooftop pool and garden, resident clubhouse and lounge and enclosed parking. Chicago-based Antunovich Associates is designing the community in partnership with LS3P Architects and Charleston-based DesignWorks. The Beach Co. expects to wrap up construction on The Jasper in 2020.

August 7, 2018

Development Multifamily Southeast Tennessee

GBT Realty Completes $20M Multifamily Community in Nashville’s Hillsboro Village

by Camren Skelton August 7, 2018

NASHVILLE, TENN. — GBT Realty Corp. has completed construction on Belcourt Park, a 76-unit multifamily community located in Nashville’s Hillsboro Village neighborhood. The $20 million project replaced the former home of Belmont Nursing Home, which closed in 2015. Belcourt Park is located across the street from the main entrance to Belmont University and three blocks from Vanderbilt University Medical Center. The four-story development includes a mix of studio to two-bedroom units with monthly rents ranging from $1,500 to $2,500. Community amenities include a Wi-Fi workspace, espresso bar, fitness center, patio with grills and fire pits and resident-only bike racks. Belcourt Park is currently 50 percent occupied after opening for resident move-ins in June.

August 7, 2018

Acquisitions Office Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges $18.6M Sale of Office Tower in Downtown Norfolk

by Camren Skelton August 7, 2018

NORFOLK, VA. — Cushman & Wakefield | Thalhimer has arranged the $18.6 million sale of Main Street Tower, a 14-story office building located at 300 E. Main St. in downtown Norfolk. A Chicago-based investment fund acquired the asset from an undisclosed seller. Eric Robison and Rob Wright of Cushman & Wakefield | Thalhimer arranged the transaction. The 199,621-square-foot office building was 73 percent leased to seven tenants at the time of sale. The United States Coast Guard anchors the building.

August 7, 2018

Acquisitions Florida Retail Southeast

HFF Brokers Sale of 178,557 SF Retail Center in Florida Panhandle

by Camren Skelton August 7, 2018

PENSACOLA, FLA. — HFF has brokered the sale of Tradewinds Shopping Center, a 178,557-square-foot retail center in Pensacola. Brad Peterson and Whitaker Leonhardt of HFF arranged the transaction on behalf of the undisclosed seller. Hackney Real Estate Partners acquired the asset. Tradewinds Shopping Center was 91.8 percent leased at the time of sale to a T.J. Maxx/HomeGoods combination store, Jo-Ann Fabric & Crafts, Shoe Station, Tuesday Morning, Dollar General, Sprint, Massage Envy, GNC and Advanced Dental Care.

August 7, 2018

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