Southeast

Ziff Properties Sells Grocery-Anchored Center in Aiken, South Carolina for $7.1M

by Camren Skelton November 10, 2017

AIKEN, S.C. — Ziff Properties Inc. has sold Kalmia Plaza Shopping Center, a 215,262-square-foot retail center in Aiken, for $7.1 million. The Palomar Group represented Ziff Properties in the transaction. A Florida-based private buyer acquired the asset. Food Lion anchors the center, which was 76.6 percent leased at the time of sale to tenants including Ollie’s Bargain Outlet, Hibbett Sports, Rose’s Discount Store, Workout Anytime, Citi Trends, Metro PCS, Check N Go, Little Caesars and Waffle House.

November 10, 2017

District of Columbia Loans Multifamily Retail Southeast

ING Capital Leads $110M Refinancing of 310-Unit Multifamily, Retail Asset in D.C.

by Camren Skelton November 9, 2017

WASHINGTON, D.C. — ING Capital LLC has led the $110 million refinancing of Atlantic Plumbing, a 310-unit multifamily and retail property located at the intersection of 8th and V streets in Washington, D.C. BMO Harris Bank joined ING as a co-lender in the financing on behalf of the borrower, JBG Smith, a publicly traded REIT based in Chevy Chase, Md. Architect Morris Adjmi designed the 10-story, Class A building. The retail portion of the property is leased to tenants including Landmark Theaters, Tasty Burger, Declaration Pizza, Bazaar Spices and Hazel.

November 9, 2017

Florida Loans Mixed-Use Multifamily Southeast Student Housing

HFF Arranges $103.3M in Construction Financing for Mixed-Use, Student Housing Project in Downtown Orlando

by Camren Skelton November 9, 2017

ORLANDO, FLA. — HFF has arranged $103.3 million in financing for the development of a mixed-use, student housing development in downtown Orlando. The project is part of the University of Central Florida (UCF)/Valencia Downtown Campus at Creative Village. The Creative Village project is a redevelopment of the former Amway Arena site into a 68-acres mixed-use, transit-oriented community. Michael Weinberg, Brian Kelly and Mike Higgins of HFF arranged the financing on behalf of the project’s co-developers, DEVEN – Development Ventures Group Inc. and Ustler Development Inc. The financing included a $68.1 million construction loan from PCCP LLC, $29.9 million in joint venture equity from Halstatt Real Estate Partners and $5.3 million in sponsor equity contributed by the co-developers. The 15-story building will include 600 student housing beds, 11,000 square feet of ground floor retail space, 600 parking spaces and 102,500 square feet of space that is long-term leased to UCF and Valencia College for education and education support services. The project is slated for completion in August 2019 and will coincide with the opening of the UCF/Valencia Downtown Campus at Creative Village.

November 9, 2017

Office Southeast Virginia

Lowe, USAA Deliver 700,000 SF Office Building for National Science Foundation in Metro D.C.

by Camren Skelton November 9, 2017

ALEXANDRIA, VA. — Los Angeles-based Lowe (formerly Lowe Enterprises) and San Antonio-based USAA Real Estate have completed construction on a 19-story, 700,000-square-foot office building located at 2415 Eisenhower Ave. in Alexandria, eight miles south of Washington, D.C. The new building will serve as the headquarters for the National Science Foundation (NSF), a U.S. government agency that supports research and education in all the non-medical fields of science and engineering. Balfour Beatty Construction and WDG Architecture led the design team for the project, which is LEED Silver-certified. The building includes two interconnected towers with 19,000 square feet of ground floor retail space and three levels of below-grade parking. The NSF headquarters building features 36 conference rooms, a fitness center, health center, bike storage and electric vehicle charging stations. In addition, the property is located adjacent to the Eisenhower Avenue Metro Station.

November 9, 2017

Industrial Maryland Southeast

Amazon to Open 855,000 SF Fulfillment Center in Baltimore’s Sparrows Point

by Camren Skelton November 9, 2017

BALTIMORE — Amazon.com Inc. has unveiled plans to open its fourth Maryland fulfillment center at 1700 Sparrows Point Blvd. in Baltimore’s Sparrows Point community. Amazon currently employs more than 5,000 associations in the state at its various centers. The new 855,000-square-foot facility will create more than 1,500 full-time jobs upon completion. Associates at the facility will pick, pack and ship customer items such as electronics, books, housewares and toys. The new facility will open in 2019, according to The Baltimore Sun.

November 9, 2017

Florida Restaurant Retail Southeast

Thor Equities Breaks Ground on 63,000 SF Retail, Restaurant Development in Miami

by Camren Skelton November 9, 2017

MIAMI — Thor Equities has broken ground on Wynwood Walk, a 63,000-square-foot restaurant and retail development located at 2800 N.W. 2nd Ave. in Miami’s Wynwood Art District. Upon completion, the project, designed by Oppenheim Architecture, will feature new retail and restaurants, a green rooftop, paseo and a landscaped terrace with outdoor seating. Construction is scheduled for completion in November 2018.

November 9, 2017

Florida Office Southeast

CRE Consultants Arranges $43.2M Sale of Office Portfolio in Southwest Florida

by Camren Skelton November 8, 2017

BONITA SPRINGS AND FORT MYERS, FLA. — CRE Consultants has arranged the $43.2 million sale of a 421,324-square-foot, three-campus office portfolio located in Bonita Springs and Fort Myers. Randal Mercer and Brandon Stoneburner of CRE Consultants represented the undisclosed seller in the transaction. Massachusetts-based Brookwood Financial acquired the assets, which include 15 individual buildings located throughout three office campuses: Riverview Corporate Center and Bonita Executive Center in Bonita Springs and Renaissance Center in Fort Myers. Brookwood Financial has retained Mercer and Stoneburner to handle leasing efforts for the portfolio.

November 8, 2017

Georgia Office Southeast

IT Consulting Firm Expands, Relocates to Bank of America Plaza in Midtown Atlanta

by Camren Skelton November 8, 2017

ATLANTA — IT management consulting firm CapTech has expanded its operations and relocated to the Bank of America Plaza, located at 600 Peachtree St. N.E. in Midtown Atlanta. The Richmond, Va.-based company announced its expansion into the Atlanta market in September 2016, creating 50 new technology and consulting jobs. As part of the expansion, CapTech plans to add 50 more jobs by next year. The company leased 6,000 square feet at the building, according to the Atlanta Business Chronicle. The Bank of America Plaza is located a half-mile from the Georgia Institute of Technology campus and Tech Square.

November 8, 2017

Florida Retail Southeast

Continental Realty Acquires Shopping Center in Broward County for $21.3M

by Camren Skelton November 8, 2017

DAVIE, FLA. — Baltimore-based Continental Realty Corp. has acquired Ridge Plaza, a 155,204-square-foot shopping center located at 9000-9200 State Road 84 in Davie. Danny Finkle, Luis Castillo and Eric Williams of HFF represented the seller, Regency Centers Corp., in the transaction. Paragon Theater and Off the Wall Family Entertainment Center anchor Ridge Plaza, which was constructed in 1985 and was 99 percent occupied at the time of sale. The property is also home to five pad sites, including properties leased to Dunkin’ Donuts and Metro PCS.

November 8, 2017

Arkansas Loans Multifamily Southeast

Doughtery Mortgage Arranges $23.9M Fannie Mae Loan for Apartment Asset in Little Rock

by Camren Skelton November 8, 2017

LITTLE ROCK, ARK. — Dougherty Mortgage LLC has arranged a $23.9 million Fannie Mae loan for the refinancing of Bowman Pointe Phase I, a 217-unit multifamily community in Little Rock. The Minneapolis-based company arranged the 10-year loan with a 30-year amortization schedule on behalf of the borrower, Bowman Pointe LLC. Bowman Pointe features a business center, clubhouse, virtual fitness studio, fitness center and a resort-style pool with cabanas.

November 8, 2017

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