Southeast

Sunshine Retirement Breaks Ground on Seniors Housing Community in Upstate South Carolina

by Amy Works October 1, 2018

MAULDIN, S.C. — Sunshine Retirement Living has broken ground on Maple Brook Terrace Retirement Community, a 133-unit seniors housing community in Mauldin, a suburb of Greenville in Upstate South Carolina. The three-story community will feature 150,000 square feet of living and communal space nearby to local shopping and entertainment centers. The project is scheduled for completion in late 2019. Based in Bend, Ore., Sunshine Retirement Living manages 21 retirement communities in 10 states, offering senior apartments, independent living, assisted living and memory care.

October 1, 2018

Acquisitions Florida Retail Southeast

The Shopping Center Group Brokers $12.2M Sale of Grocery-Anchored Retail Center in Southwest Florida

by Amy Works October 1, 2018

FORT MYERS, FLA. — The Shopping Center Group has brokered the sale of Pelican Preserve, a grocery-anchored neighborhood center in Fort Myers. An affiliate of Baltimore-based Continental Real Estate purchased the property from an institutional seller for $12.2 million. Completed in 2007 and situated on 18.4 acres, Pelican Preserve features 69,500 square feet of retail space. At the time of sale, the property was 95.7 percent leased to a variety of tenants, including Winn-Dixie, H&R Block, Pizza Hut, Suncoast Credit Union and Great Expressions. Also included in the transaction is a city-approved plan for a second phase of the shopping center. Ready for immediate development, the plan includes two outparcels that can accommodate nearly 35,000 square feet of retail and restaurant space. Anthony Blanco and Lynn De Marco led The Shopping Center Group team that represented the seller in the deal.

October 1, 2018

Acquisitions Florida Multifamily Southeast

Redwood Capital Sells 220-Unit Apartment Complex in Orlando

by Amy Works October 1, 2018

ORLANDO, FLA. — Chicago-based Redwood Capital Group has completed the disposition of Reserve at Conway, an apartment community located at 3149 Landtree Place in Orlando. Virginia-based Chandler Residential acquired the property for an undisclosed price. Reserve at Conway features 220 garden-style apartments in a mix of one- and two-bedroom floor plans, averaging 748 square feet. At the time of sale, the property was 98.2 percent occupied. ARA Newmark brokered the transaction.

October 1, 2018

Acquisitions Florida Industrial Southeast

Charles Wayne Properties Acquires Five-Building Industrial Property in Sanford, Florida for $9.6M

by Amy Works October 1, 2018

SANFORD, FLA. — Charles Wayne Properties has purchased Monroe CommerCenter South, a five-building industrial/flex campus located on 8.5 acres in Sanford, a Florida town in north Seminole County. Miami-based Monroe South RE LLC sold the asset for $9.6 million. Totaling 116,500 rentable square feet, the five buildings are located at 627-655 Progress Way, 663-691 Progress Way, 703-739 Progress Way, 4141-4186 Incubator Court and 4140 Flex Court. Built in 2013, Monroe CommerCenter South features office and warehouse space with grade-level roll-up doors. Ron Rogg and Chip Wooten of CBRE represented the seller in the deal. Charles Wayne Investment Management will handle asset and investment management functions for the property and its investors.

October 1, 2018

Industrial Market Reports Maryland Southeast Southeast Market Reports

After Record-Setting 2017, Baltimore Looks to Extend Its ‘Industrial Revolution’

by John Nelson October 1, 2018

The greater Baltimore metropolitan region achieved positive absorption of more than 6 million square feet of warehouse and industrial space in 2017, smashing the previous record by several million square feet and triggering yet another wave of speculative development activity. While on the surface there seems to be no end in sight to this unprecedented level of activity as we cross the midway point of 2018, there does exist several warning signs that are worth monitoring. But, who wants to dwell on anything remotely negative, when experiencing a seemingly end-less supply of 600,000-square-foot requirements? A Major Industrial Market The Baltimore-Washington, D.C. region is considered the fourth largest MSA in the country with more than 10 million people in the Combined Statistical Area. Several major seaports are within close proximity, approximately one-third of all consumers residing in the United States can be accessed within a one-day truck drive and developable land is still avail-able, although an increasing number of projects involve the demolition of unusable product to make way for the modern variety. Local fundamentals mirror conditions found in “white-hot” sections of the country, including the Inland Empire in Southern California, Northern New Jersey and sections in Pennsylvania where Interstates 81 …

October 1, 2018

Acquisitions Florida Georgia Retail Southeast

Colliers Brokers $55M Sale of 10 Walgreens Stores in Florida, Georgia

by Camren Skelton September 28, 2018

TAMPA, FLA. — Colliers International has brokered the $55 million sale of 10 single-tenant retail properties in Florida and Georgia that are net-leased to Walgreens. Mike Milano, Sean Glickman, Donald Jennewein, Nathan Lynch and Tara Paronto of Colliers arranged the transaction on behalf of the seller, Olympia Development Group. A California-based real estate investment company acquired six of the locations, while private investors purchased the other four locations as part of a 1031 exchange. The sales prices ranged from $2.7 million to $8.2 million. Two of the Walgreens stores are located in Naples, and the other Florida locations are in Sarasota, Temple Terrace, Bradenton, Merritt Island, Seminole, Dunedin and Oldsmar. The one Georgia property is located in Lawrenceville. Each building ranges between 15,000 and 17,000 square feet.

September 28, 2018

Acquisitions Georgia Multifamily Southeast

Pollack Shores Acquires 800-Unit Multifamily Community in Metro Atlanta

by Camren Skelton September 28, 2018

ALPHARETTA, GA. — Pollack Shores Real Estate Group has acquired AMLI Northwinds, an 800-unit apartment community in Alpharetta, roughly 25 miles north of Atlanta. The name of the seller and sales price were not disclosed. Pollack Shores will rename the community Avery at Northwinds and will invest more than $13 million in property upgrades and amenity improvements. Project plans call for new appliances, countertops and light fixtures for all residential units. Amenity upgrades will include renovations to the property’s three pools, a new fitness center and the conversion of two-thirds of the tennis courts into “The Hub.” The new area will provide a green space to host special events for residents. Atlanta-based Pollack Shores acquired the property in partnership with an account advised by UBS Asset Management. Matrix Residential, a subsidiary of Pollack Shores, will manage the community.

September 28, 2018

Development Retail Southeast Tennessee

Hutton Opens 69,540 SF Retail Redevelopment Near Knoxville

by Camren Skelton September 28, 2018

MARYVILLE, TENN. — Hutton has opened the redeveloped Maryille Commons, a 69,540-square-foot shopping center in Maryville, about 18 miles south of Knoxville. The Chattanooga-based developer originally acquired the former Kroger-anchored shopping center last year, and began construction on the redevelopment in November. As part of the project, Hutton redeveloped the previously freestanding Kroger and constructed an additional 11,130-square-foot expansion. Maryville Commons is now home to tenants such as HomeGoods, Ulta Beauty, Five Below, Kirkland’s, Rack Room Shoes and Chicken Salad Chick. In addition, the center is located adjacent to Target, which remodeled its store in July.

September 28, 2018

Leasing Activity Maryland Retail Southeast

Kimco Signs 66,450 SF Lease with Giant Food at Mill Station Project in Baltimore County

by Camren Skelton September 28, 2018

OWINGS MILLS, MD. — Kimco Realty Corp. has inked a 66,450-square-foot lease with Giant Food at Mill Station, a $108 million project located at the site of the former Owings Mills Mall in Owings Mills, about 18 miles northwest of Baltimore. The grocer will join previously announced tenants including Lowe’s Home Improvement, Marshalls, HomeSense, Burlington, Five Below, AMC Theatres and Costco, which is scheduled to open next month. With the addition of Giant Food, the 621,000-square-foot center is roughly 90 percent leased. Upon completion, Mill Station will house up to 30 tenants and feature green space, a courtyard and walkways connecting to existing office and retail space.

September 28, 2018

Florida Healthcare Loans Office Retail Southeast

Mission Capital Arranges $16.8M Refinancing of Mixed-Property Portfolio in Central Florida

by Camren Skelton September 28, 2018

NEW YORK — New York-based Mission Capital Advisors has arranged a $16.8 million loan for the refinancing of 10 office, medical and retail properties located across Central Florida. Matt Polci, Ari Hirt, Alex Draganiuk and Justin Hunt of Mission Capital arranged the non-recourse loan through Deutsche Bank on behalf of the borrower, DMCC Holdings. The assets are located in the greater Orlando, Tampa and Altamonte Springs markets. The portfolio was 97.7 percent leased at the time of sale. DMCC acquired the properties over the past four years, and has made significant property improvements.

September 28, 2018

Newer Posts

Older Posts