Southeast

Trammell Crow, AvalonBay to Develop 350-Unit Multifamily Community Near Miami

by Camren Skelton July 9, 2018

DORAL, FLA. — Trammell Crow Residential, in partnership with AvalonBay Communities Inc., has unveiled plans to develop a 350-unit apartment community located at the corner of N.W. 36th Street and N.W. 79th Avenue in Doral, roughly 16 miles northwest of Miami. The residences will be part of a horizontally integrated mixed-use development that will feature 80,000 square feet of retail, which is under development by the Terra Group. The site currently houses the 139,000-square-foot Atrium Office space. Demolition of the property is scheduled for later this month. The community will include a mix of one- to three-bedroom apartment units and will feature a pool, park and bike path. Trammell Crow and AvalonBay expect to wrap up construction in 2020.

July 9, 2018

Hospitality Loans North Carolina Southeast

NorthMarq Secures $28M Construction Loan for EVEN Hotel in Charlotte’s CBD

by Camren Skelton July 9, 2018

CHARLOTTE, N.C. — NorthMarq Capital has secured a $28 million construction loan for a new EVEN Hotel in Charlotte’s Central Business District. Mark Ebersold of NorthMarq arranged the financing through a local bank and a New York-based mezzanine lender on behalf of the borrower. According to local media reports, Mayfair Street Partners acquired the hotel site in 2017 with plans to develop the 176-room property. The hotel is part of Stonewall Station, a mixed-use project under development by Crescent Communities. The development includes a Whole Foods, 458 multifamily units, a 1,350-space parking deck and a 180-room Home2Suites hotel. A construction timeline for the EVEN Hotel was not disclosed. EVEN Hotels is an InterContinental Hotels Group brand.

July 9, 2018

Arkansas Development Office Southeast

CBRE Arranges Sale of 17-Acre Parcel Near Bentonville, Buyer to Develop Office/Flex Space

by Camren Skelton July 9, 2018

ROGERS, ARK. — CBRE has arranged the sale of a 17-acre parcel of land located at 5911 W. Myers Ranch Blvd. in Rogers, roughly eight miles southeast of Bentonville. David Erstine of CBRE arranged the transaction on behalf of the buyer, Venture Park LLC, which acquired five of the six available lots for the development of Class B office/flex space. A separate party acquired the sixth lot for the development of a restaurant. The land, formerly known as Myers Ranch, will be rebranded as Venture Park. The office/flex space will range from 20,000 to 60,000 square feet and will offer open, collaborative workspaces. A construction timeline for the project was not disclosed.

July 9, 2018

Acquisitions Florida Healthcare Southeast

NKF Capital Markets Negotiates $9.8M Sale of Medical Office Building in South Florida

by Camren Skelton July 9, 2018

DELRAY BEACH, FLA — NKF Capital Markets has arranged the $9.8 million sale of a 32,987-square-foot medical office building located at 4675 Linton Blvd. in Delray Beach. Adam Greenberg, Michael Lapointe and Michael Lohmann of NKF Capital Markets arranged the transaction on behalf of the seller, Delray Outpatient Properties LLC. Flagler Investment Healthcare LLC acquired the asset. The two-story, Class A building was constructed in 2005 and was 75 percent leased at the time of sale. ASC, an affiliate of Tenet Health, occupies approximately 10,000 square feet at the building. Additional tenants include South Palm Gastro Health, Total Vein & Skin Dermatology and the South Florida Gastro Association. The building is located across from Delray Medical Center, a 493-bed acute care hospital that serves the southern Palm Beach County region and staffs roughly 1,600 employees and 600 doctors.

July 9, 2018

Washington-Dulles-Gateway-Loudoun-County-Virginia

Acquisitions Data Centers Industrial Southeast Top Stories Virginia

Sentinel Acquires 280 Acres for Data Center Development in Northern Virginia for $82.5M

by Taylor Williams July 9, 2018

LOUDOUN COUNTY, VA. — New York-based Sentinel Data Centers has acquired Washington Dulles Gateway, a 280-acre tract in northern Virginia, for $82.5 million. The site features 140 acres of net developable land for a new data center project, which equates to a purchase price of about $589,000 per developable acre. The site is one of the largest contiguous tracts for data center development in in Loudoun County, located northwest of Washington, D.C. “Seventy percent of the world’s internet activity runs through Loudoun County,” says Jay Taustin, a representative for the seller. “We are extremely pleased to have sold this important land parcel to Sentinel Data Centers, which provides world-class facility infrastructure, engineering acumen, technical personnel and operations protocols to its users.” Mark Levy, Matthew Gallagher and Jonathan Walk of JLL represented the seller, which according to datacenterdynamics.com was developer and majority owner H. Christopher Antigone, in the sale. “Significant demand continues to exist for data center product in Loudoun County,” says Levy. “When we began the conversation with Sentinel, it was clear it had the market knowledge and sophistication necessary to execute a complex transaction such as this.” Sentinel also acquired 65 acres in Loudoun County for the same purpose …

July 9, 2018

Georgia Industrial Market Reports Property Type Southeast Southeast Market Reports

Booming Atlanta Industrial Market Continues Surge Thanks to E-Commerce

by John Nelson July 9, 2018

Atlanta is the logistics hub and economic engine of the Southeast, which is the fastest growing region in the country. Its 700 million square feet of industrial space makes it the fifth largest logistics market in the United States. Traditionally, population and job growth are key drivers of industrial demand, and Atlanta has had strong growth in each. The metro added 78,000 people in 2017, or nearly 214 new residents every day, which is reminiscent of the solid population growth of the 1990s when Atlanta averaged nearly 100,000 new residents every year. Additionally, Atlanta has had solid job growth, growing 2.5 percent last year, second only to Dallas/Fort Worth among the 12 largest metro areas in the U.S. E-commerce has caused a surge in demand for industrial space that has benefitted the Atlanta industrial market. Online retail sales now make up over 9 percent of total retail sales, according to the U.S. Census Bureau, up from 5 percent in 2012. A recent report from Cushman & Wakefield stated that while e-commerce accounted for just 5 percent of leases in 2013, it now commands over 20 percent of all warehouse leasing. As Amazon and others ramp up delivery times from two-day …

July 9, 2018

Development Industrial North Carolina Self-Storage South Carolina Southeast

Go Store It Breaks Ground on Two Self-Storage Facilities in Carolinas

by Camren Skelton July 6, 2018

ASHEVILLE, N.C. AND MT. PLEASANT, S.C. — Go Store It has broken ground on two new self-storage developments in Asheville and Mt. Pleasant. The Charlotte, N.C-based company specializes in the acquisition, development and management of self-storage assets throughout the country. The project in Asheville will feature more than 600 units and will be fully climate controlled. The development is located in the Woodfin submarket, just north of the city’s downtown. Go Store It owns three existing facilities in Asheville and is underway on another along Hendersonville Road. The self-storage facility in Mt. Pleasant is Go Store It’s third facility in the city and its fifth in the greater Charleston market. Located at the corner of Gregorie Ferry Road and Highway 17 North, the three-story building will be fully climate controlled and will feature more than 400 units. Go Store It’s other Charleston locations include a recently opened facility at Long Point Road, as well as facilities under construction at Johnnie Dodds, Folly Road, Maybank Highway and downtown Charleston. A construction timeline for the new facilities was not disclosed. Go Store It plans to break ground on five more developments this year in Charlotte, Cary, Louisville, Ky., and Fredericksburg, Va.

July 6, 2018

Acquisitions Industrial Maryland Southeast

Goldstar Group Acquires Fully Leased Industrial Warehouse in Baltimore for $7.6M

by Camren Skelton July 6, 2018

BALTIMORE — The Goldstar Group has acquired an 86,236-square-foot warehouse building located at 1821 Portal St. in Baltimore for $7.6 million. Jonathan Beard and Justin Mohler of CBRE arranged the transaction on behalf of the undisclosed seller. The facility is situated adjacent to the Dundalk and SeaGirt Marine Terminals and the Intermodal Container Transfer Facility at the Port of Baltimore. The building is fully leased to two tenants — Johns Hopkins Bayview Medical Center and Bacchus Imports, an importer of fine wines and spirits.

July 6, 2018

Acquisitions North Carolina Office Southeast

Coldwell Banker Brokers $7.4M Sale of Two Adjacent Office Buildings in Wilmington, N.C.

by Camren Skelton July 6, 2018

WILMINGTON, N.C. — Coldwell Banker Commercial Sun Coast Partners, a division of Coldwell Banker Commercial, has brokered the $7.4 million sale of two adjacent office buildings in Wilmington. MegaCorp Logistics, a Wilmington-based freight and logistics firm, acquired the assets from First Capital Group. Cody Cress and Tyler Pegg of The Cress Group, a division of Coldwell Banker Commercial Sun Coast Partners arranged the transaction on behalf of First Capital Group, and Spruill Thompson of Cape Fear Commercial represented MegaCorp Logistics. The two-story buildings, located at 1011 and 1013 Ashes Drive, total 30,595 square feet and 16,800 square feet, respectively.

July 6, 2018

Acquisitions Retail Southeast Virginia

Calkain Arranges $6.1M Sale of Retail Strip Center in Northern Virginia

by Camren Skelton July 6, 2018

LEESBURG, VA. — Calkain Cos. has arranged the $6.1 million sale of a multi-tenant strip center located at 400-416 Sycolin Road S.E. in Leesburg, a city in northern Virginia. The sales price equates to $440 per square foot. The names of the buyer and seller were not disclosed. A 9,300-square-foot Kiddie Academy anchors the center, which is co-located with a Walgreens.

July 6, 2018

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