Southeast

JV Receives $46.4M Construction Loan, Breaks Ground on Apartment Asset in Miami

by Camren Skelton December 22, 2017

MIAMI — Pinnacle Housing Group and Ascend Properties have received a $46.4 million construction loan for the development of Oasis at Blue Lagoon, a 272-unit apartment development located at 6650 N.W. 7th St. near Miami International Airport. IBERIABANK arranged the loan. In addition, the companies received a preferred equity investment from Arbor Realty Trust Inc. Oasis at Blue Lagoon will rise adjacent to the master-planned Blue Lagoon commercial park, home to more than 100 corporate office users including FedEx, Sony, Pepsi, Marriott Hotels & Resorts, Novartis, ConAgra Foods and Toyota. The community will include one-, two- and three-bedroom units and feature a two-story clubhouse, fitness center and an infinity pool overlooking Lake Mahar. PHG Builders LLC is the general contractor for the project, and Behar Font & Partners is the architect. The community is expected to open in mid-2019.

December 22, 2017

Industrial Southeast Tennessee

CCL Label, Korsini SAF Open $25M Label Printing Facility in Metro Memphis

by Camren Skelton December 22, 2017

COLLIERVILLE, TENN. — Canadian-based label company CCL Label and Turkish specialty label producer Korsini SAF have opened a $25 million in-mold label facility in Collierville, roughly 30 miles southeast of Memphis. The 85,000-square-foot building is located at the Interstate 269/State Road 385/US 72 crossroads, adjacent to CCL Label’s existing 111,000-square-foot production plant. The new facility will produce in-mold labels for the injection molded containers market and will create 130 new jobs. In addition, the facility has the potential for a 36,000-square-foot future expansion.

December 22, 2017

Georgia Retail Southeast

Franklin Street Brokers $13.9M Sale of Kroger-Anchored Center in Metro Atlanta

by Camren Skelton December 22, 2017

DACULA, GA. — Franklin Street has arranged the $13.9 million sale of Mountain Crossing, a 93,396-square-foot retail center in Dacula, roughly 25 miles northeast of downtown Atlanta. John Tennant and Bryan Belk of Franklin Street arranged the transaction on behalf of the buyer, Phillips Edison Grocery Center REIT II Inc., and the seller, Mountain Crossing Associates LLC. Kroger anchors the center, which was 97 percent leased at the time of sale to tenants including Great Clips, The UPS Store, Wells Fargo, a nail salon, cleaners and restaurants.

December 22, 2017

Georgia Multifamily Southeast

CBRE Arranges $49.6M Sale of Apartment Community in Metro Atlanta

by Camren Skelton December 21, 2017

LAWRENCEVILLE, GA. — CBRE has arranged the $49.6 million sale of 1760 Apartment Homes, a 239-unit multifamily community located at 1760 Lakes Parkway in Lawrenceville, approximately 30 miles northwest of downtown Atlanta. Shea Campbell, Paul Berry and Steve Newbern of CBRE arranged the transaction on behalf of the seller, LIV Development. Charleston, S.C.-based Blaze Partners acquired the property, which was constructed earlier this year. The community features a clubhouse with teaching kitchen, game room, cyber café, resort-style pool and a fitness center.

December 21, 2017

Florida Retail Southeast

Barneys New York to Anchor $400M Expansion of Bal Harbour Shops in South Florida

by Camren Skelton December 21, 2017

BAL HARBOUR, FLA. — Whitman Family Development LLC has signed a 53,000-square-foot lease with Barneys New York to anchor the $400 million expansion of Bal Harbour Shops, an upscale, open-air shopping center in South Florida’s Bal Harbour. The store will be the brand’s first Barney’s New York location in Florida, and will include Freds at Barneys New York, a European-inspired restaurant that serves contemporary American cuisine. Barneys New York, along with Freds, is scheduled to open in 2023 in conjunction with the 350,000-square-foot Bal Harbour expansion, which will add roughly 70 new retailers. The family-owned Bal Harbour Shops originally opened in 1965 and was the first all-luxury fashion center in the United States.

December 21, 2017

Georgia Retail Southeast

IKEA to Open New Location in Metro Atlanta

by Camren Skelton December 21, 2017

MARIETTA, GA. — IKEA U.S. will submit plans to the City of Marietta for its second Atlanta-area store. Situated roughly 15 miles northwest of downtown Atlanta, IKEA Marietta is expected to be built on 34 acres on the western side of Interstate 75 on Franklin Gateway, between the Marietta Parkway and Delk Road exit interchanges. A construction timeline for the new store has not been determined. The Swedish home furnishings retailer currently operates a store in Midtown near Atlantic Station.

December 21, 2017

Alabama Multifamily Southeast Student Housing

Colliers Closes $32M Sale of Student Housing Community Near Auburn University

by Camren Skelton December 21, 2017

AUBURN, ALA. — Colliers International has arranged the $32 million sale of The Social, an 844-bed student housing community located at 211 W. Longleaf Drive, roughly three miles from Auburn University in Alabama. Travis Prince, Sean Baird and Brian Savage arranged the transaction. Other terms of the deal were not disclosed. The Social offers one- to three-bedroom units, ranging in size from 918 to 1,188 square feet. Community amenities include a community theater room, resort-style pool and a clubhouse with billiards, ping pong, foosball and air hockey tables. In addition, the community offers direct access to the Tiger Transit line, a free bus service for Auburn University students.

December 21, 2017

Healthcare Maryland Office Southeast

Avison Young Secures $10.6M Sale of Office Building in Metro Baltimore

by Camren Skelton December 21, 2017

COLUMBIA, MD. — Avison Young has arranged the sale of an 84,025-square-foot office building located at 6350 Stevens Forest Road in Columbia, roughly 20 miles southwest of Baltimore. The sales price was not disclosed, but sources familiar with the transaction report the building sold for $10.6 million. Chip Ryan, Jim Kornick and Bob Wrighton of Avison Young arranged the transaction on behalf of the seller, New Boston Fund. Pratt Street Capital acquired the asset. Johns Hopkins Community Physicians anchors the building, which was 77 percent leased at the time of sale. Medical- and healthcare-related tenants occupy 43 percent of the building, which is located roughly three miles from Johns Hopkins Howard County General Hospital and two miles from Columbia Town Center.

December 21, 2017

Data Centers Georgia Industrial Southeast

CyrusOne to Enter Metro Atlanta Market with $206M Data Center Campus

by Camren Skelton December 20, 2017

DOUGLASVILLE, GA. — CyrusOne, a Dallas-based global data center REIT, has unveiled plans to expand into the Atlanta-area market with a 44-acre campus in Douglasville. The $206 million project will be located near the home of Google’s 2 million-square-foot server farm, according to the Atlanta Business Chronicle. At full build-out, the project will include three data centers totaling 440,000 square feet, and 50 megawatts of critical power. Construction is scheduled to begin in the first quarter of 2018, with completion of the first building slated for the summer of 2018. CyrusOne’s Atlanta centers will have access to multiple cloud providers and will be linked to the CyrusOne National Internet Exchange, which delivers interconnection between other CyrusOne locations across the country. The company currently operates 44 data center facilities across the United States, Europe and Asia.

December 20, 2017

Florida Office Southeast

Cushman & Wakefield Arranges $42M Sale of Broward County Office Building

by Camren Skelton December 20, 2017

PEMBROKE PINES, FLA. — Cushman & Wakefield has arranged the sale of Pembroke Pointe 880, a 143,535-square-foot office building in Pembroke Pines, a city in Broward County. Public records show the building sold for $42 million. Scott O’Donnell, Mike Davis, Michael Lerner, Dominic Montazemi, Miguel Alcivar, Greg Miller and Rick Brugge of Cushman & Wakefield arranged the transaction on behalf of the seller, Duke Realty. Jason Hochman of Cushman & Wakefield arranged a $22.7 million, long-term acquisition loan on behalf of the buyer, Pembroke Pointe Office LLC, an affiliate of Miami-based Midtown Capital Partners LLC. Pembroke Pointe 880 was constructed in 2015 and features 36,111-square-foot floor plates, a parking ratio of 5.5 per 1,000 square feet and Interstate 75 frontage. In addition, the property is located adjacent to the 400,000-square-foot Shops at Pembroke Gardens, an open-air retail center. At the time of sale, the building was 86 percent leased to tenants including Global Medical Management, Elizabeth Arden, CES Consultants Inc., Boxy Charm, Kronos Inc., Corestaff, Devry Education Group and Evolution Lighting LLC.

December 20, 2017

Newer Posts

Older Posts