Southeast

Meridian Development Acquires Office Portfolio in Tampa for $16.5M

by Camren Skelton November 29, 2017

TAMPA, FLA. — Meridian Development Group has acquired a two-property office portfolio in Tampa’s Carrollwood submarket for $16.5 million. The portfolio includes Buschwood Park One and Buschwood Park Two and totals 171,166 square feet. Rick Brugge and Mike Davis of Cushman & Wakefield represented the seller, Buschwood One & Buschwood Two LLC, in the transaction. Meridian was represented internally. The firm will invest another $1 million to build a 2,000-square-foot amenity center and café and to upgrade indoor and outdoor common areas. Meridian’s subsidiary company, Meridian Management Group, will manage the property and oversee the improvements. Jim Moler and Deanna Beer of JLL will oversee leasing for the property, which was 82 percent leased at the time of sale. Prior to the sale, Pilgrim Quality Solutions, an IQVIA Co., signed a new 18,000-square-foot lease at Buschwood Park Two.

November 29, 2017

Alabama Multifamily Southeast Student Housing

CBRE Arranges Sale of 900-Bed Student Housing Community Near Auburn University

by Camren Skelton November 29, 2017

AUBURN, ALA. — CBRE has arranged the sale of The Connection at Auburn, a 900-bed, 312-unit student housing community located less than three miles from the Auburn University campus and a half-mile from College Street, one of Auburn’s main thoroughfares. Jaclyn Fitts, William Vonderfecht and Casey Schaefer of CBRE, in conjunction with CBRE’s Nashville Multifamily team, arranged the transaction on behalf of the buyer, University Partners. A private real estate fund managed by Crow Holdings Capital sold the asset for an undisclosed price. At the time of sale, The Connection at Auburn was 99.3 percent occupied.

November 29, 2017

Georgia Industrial Southeast

Silverman Group to Break Ground on Second Building at Bright Star Logistics Center in Metro Atlanta

by Camren Skelton November 29, 2017

DOUGLASVILLE, GA. — The Silverman Group has unveiled plans to break ground on the second building at Bright Star Logistics Center, a master-planned industrial campus in Douglasville, roughly 22 miles west of Atlanta. The New Jersey-based company will break ground on the 330,000-square-foot, speculative manufacturing/distribution building in the fourth quarter. Building Two will feature 36-foot clear heights, cross-dock configuration and ample car parking and trailer storage. Completion is slated for summer 2018. Bright Star Logistics Center is expected to attract industrial users including manufacturing, warehouse/distribution and third-party logistics companies. Upon completion, the park will features two modern distribution buildings, one of which is currently under construction and is preleased to Andersen Windows, a window and door manufacturer. Pat Murphy, James Phillpott and Tara Healy of Cushman & Wakefield will handle the project’s leasing assignment on behalf of The Silverman Group.

November 29, 2017

North Carolina Office Southeast

Trinity Partners Brokers Sale of 357,654 SF Office Park in Charlotte

by Camren Skelton November 28, 2017

CHARLOTTE, N.C. — Trinity Partners has arranged the sale of Harris Corners Corporate Park, a three-building, 357,654-square-foot office park in Charlotte. Dunn Mileham, David Morris, Mark Alviano, Jennifer Kurz and John Ball of Trinity Partners arranged the transaction on behalf of the seller, an entity affiliated with New Boston Fund. Bridge Investment Group acquired the buildings for an undisclosed price. At the time of sale, Harris Corners was 84 percent leased to more than 40 tenants. Trinity’s Ball and Kurz will continue to handle the property’s leasing assignment under the new ownership.

November 28, 2017

Multifamily North Carolina Southeast

Alliance Residential to Convert Hotel in Durham to 342-Unit Multifamily Community

by Camren Skelton November 28, 2017

DURHAM, N.C. — Alliance Residential Co. has acquired the former Crown Park Hotel in Durham, with plans to convert the building into a 342-unit apartment community. Karl Hudson of Foundry Commercial arranged the transaction on behalf of Alliance. The seller and sales price were not disclosed. Alliance will begin construction on the community, named Broadstone Durham, next year. The project will feature studio, one- and two-bedroom units, including several two-story brownstones. The community will also feature a three-story glass entry “jewel box,” inspired by the nearby Durham Performing Arts Center. Broadstone Durham will be located within walking distance to American Tobacco, the Durham Bulls Athletic Park, Main Street and the Brightleaf District.

November 28, 2017

Georgia Industrial Southeast

Cushman & Wakefield Secures 505,000 SF Industrial Lease for Clothing Wholesaler South of Atlanta

by Camren Skelton November 28, 2017

MCDONOUGH, GA. — Cushman & Wakefield has secured a 505,000-square-foot lease for S&S Activewear at Midland Logistic Center in McDonough, roughly 30 miles south of Atlanta. The Illinois-based company is a national wholesaler of imprintable apparel and stocks more than 60 brands. Britt Casey of Cushman & Wakefield represented S&S Activewear in the lease negotiations, and Lisa Pittman, Ray Stache and James Philpott of Cushman & Wakefield represented the landlord, Scannell Properties. The new warehouse will serve as a regional distribution center for the apparel company and will create more than 300 jobs over the next four years. The facility is expected to be operational by the second quarter of 2018.

November 28, 2017

Florida Healthcare Loans North Carolina Southeast

HFF Arranges $26.6M Recapitalization, Financing of Medical Office Portfolio in Florida, North Carolina

by Camren Skelton November 28, 2017

DALLAS — HFF has arranged the $26.6 million recapitalization and financing of a six-property medical office portfolio located throughout Florida and North Carolina. Anthony Frogameni, Ben Appel and Matt DiCesare of HFF marketed the portfolio on behalf of the borrower, Catalyst HRE, and procured the investor, Charter Realty Group. In addition, Michael George and Charley Dickenson of HFF arranged fixed-rate senior financing through Capital One on behalf of the new venture between Catalyst HRE and Charter Realty Group. The portfolio, which totals 68,000 square feet, comprises four radiation oncology treatment centers operated by Robert Boissoneault Oncology Institute in the Florida markets of Lecanro, Ocala and The Villages; the Florida Diagnostic Imaging Medical Office Building in Panama City, Fla.; and the Eastern Regional Surgical Center in Wilson, N.C.

November 28, 2017

Florida Loans Retail Southeast

CBRE Secures $22.1M Loan for Retail Center Near Orlando

by Camren Skelton November 28, 2017

WINDERMERE, FLA. — CBRE has arranged a $22.1 million loan for Westside Shoppes, a 68,346-square-foot retail center in Windermere, roughly 12 miles southwest of Orlando. Zac Brumbaugh of CBRE arranged the 10-year, non-recourse loan with a 30-year amortization schedule on behalf of the borrower, Unicorp National Developments Inc. At the time of sale, Westside Shoppes was fully leased to tenants including AT&T, Tijuana Flats, Keke’s Breakfast, Dunkin’ Donuts, Wendy’s, Panera Bread and Adena Grille.

November 28, 2017

Florida Loans Multifamily Southeast

Berkadia Arranges $65.7M Acquisition Loan for Multifamily Asset in Orlando

by Camren Skelton November 27, 2017

ORLANDO, FLA. — Berkadia has arranged a $65.7 million acquisition loan for Elan Audubon Park, a 449-unit multifamily community located at 990 Warehouse Road in Orlando. Charles Foschini, Chris Apone and Lourdes Carranza-Alvarez of Berkadia arranged the five-year loan through Bank of America on behalf of the borrower, Harbor Group International. The company acquired the property for $97.1 million. Constructed this year, Elan Audubon Park features one-, two- and three-bedroom units with vaulted ceilings, hardwood floors and in-unit washers and dryers. Community amenities include two resort-style pools, a poolside bar with a TV, outdoor kitchens with gas grilling areas, outdoor fire pits, two-story clubhouse, two-story fitness center, tanning room, game room, dog park and a dog wash station. Elan Audubon Park is situated near Colonial Town Center, home to a variety of shopping, dining and entertainment destinations.

November 27, 2017

Georgia Restaurant Retail Southeast

Capital, Concordia Unveil First Restaurant Tenants at New Food Hall in Metro Atlanta

by Camren Skelton November 27, 2017

MARIETTA, GA. — Capital Properties Group and Concordia Properties have unveiled the first round of restaurant tenants to occupy Marietta Square Market, a new food hall concept located in the Historic Marietta Square District, roughly 20 miles north of downtown Atlanta. The 18,500-square-foot converted warehouse building, located adjacent to the railroad tracks at 68 N. Marietta Parkway N.W., will have the look of a historic train station complete with a restored trolley car and a porch that wraps around two sides of the building. The food hall will feature 19 restaurant and retail concepts. Signed tenants at the project include Forno — Wood Fired Artisan Pizza, Street Taco, Grand Champion BBQ, Toppoke Korean & Poke and Pita Mediterranean Street Food. Kelly Wilson of Windsor Realty Group is handling the project’s leasing assignment. Marietta Square Market is slated to open in summer 2018.

November 27, 2017

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