Southeast

KDC Breaks Ground on New 205,000 SF Office Building for Credit Suisse in Raleigh

by Camren Skelton May 4, 2018

RALEIGH, N.C. — KDC has started construction on a new regional office building for Credit Suisse in Raleigh’s Research Triangle Park. The 205,000-square-foot, four-story building will be located at 6933 Louis Stephens Drive, adjacent to the existing Credit Suisse office building that KDC developed in 2007. Upon completion of the new facility in June 2019, KDC will begin renovations of the existing building. More than 3,000 Credit Suisse employees will occupy the campus after the project is complete. The investment banking and financial services company is headquartered in Zürich and has regional offices across the U.S. The 62-acre site will feature outdoor workspaces, a new food service cafeteria, internet cafés, conference center and a pedestrian trail. In addition, KDC will add new entrance and exit points and a pedestrian bridge to connect the two buildings. The developer plans to seek LEED certification for the project. Architecture firm Gensler, general contractor Brasfield & Gorrie and engineer Crenshaw make up the rest of the project team.

May 4, 2018

Alabama Loans Multifamily North Carolina Southeast

KeyBank Provides $37.4M in Agency Financing for Two Apartment Properties in Alabama, North Carolina

by Camren Skelton May 4, 2018

HOOVER, ALA. AND WILMINGTON, N.C. — KeyBank Real Estate Capital has provided $37.4 million in financing for two multifamily properties in Hoover and Wilmington. In Hoover, KeyBank provided a $16.3 million Fannie Mae loan for the acquisition of Hawthorne at Wisteria, a 200-unit community. The property was built in 1978 and renovated in 2015. In Wilmington, KeyBank provided a $21.1 million Freddie Mac loan for the refinancing of Hawthorne at New Centre, a 301-unit apartment community that was constructed in 1998 and renovated in 2014. Tim DeWispelaere of KeyBank originated both 10-year loans with 30-year amortization schedules on behalf of the undisclosed borrowers.

May 4, 2018

Acquisitions Georgia Industrial Self-Storage Southeast

Marcus & Millichap Arranges $19.4M Sale of Self-Storage Property in Metro Atlanta

by Camren Skelton May 4, 2018

ROSWELL, GA. — Marcus & Millichap has arranged the $19.4 million sale of Space Shop Self Storage, a 1,174-unit self-storage property in Roswell, located roughly 23 miles north of Atlanta. Stacey Gorman of Marcus & Millichap arranged the transaction on behalf of the seller, Stein Investment Group, and procured the buyer, a regional self-storage operator. Space Shop Self Storage was constructed in 1995 and was recently renovated and expanded. The property is situated on six acres along Alpharetta Highway.

May 4, 2018

Arkansas Development Healthcare Southeast

NexCore Starts Construction on 42,133 SF Research Facility Near Little Rock for Healthcare Provider

by Camren Skelton May 4, 2018

SHERWOOD, ARK. — Denver-based NexCore Group has broken ground on a 42,133-square-foot research and education facility for CHI St. Vincent, an Arkansas-based regional healthcare provider, in the Little Rock suburb of Sherwood. Located at 6020 Warden Road, the facility will be located on CHI St. Vincent’s North Little Rock campus, and will serve as the new home of the Arkansas Neuroscience Institute. The building will include a research laboratory, auditorium, classrooms, an exhibit area and office space for physician practices, expanding the list of services offered to patients on one campus. The Arkansas Neuroscience Institute will relocate its surgical and clinical operations to the new facility by the end of the year. The education and research center is expected to open in early 2019.

May 4, 2018

Development Multifamily Southeast Tennessee

Akara Partners Breaks Ground on 420-Unit Multifamily Community in Nashville

by Camren Skelton May 3, 2018

NASHVILLE, TENN. — Chicago-based Akara Partners has broken ground on Kenect Nashville, a 420-unit apartment community located at 1815 Division St. in Nashville. The community is situated in Nashville’s Midtown neighborhood, two blocks from Vanderbilt University. The 20-story building, designed by Nashville-based Smith Gee Studio and the Chicago office of Perkins + Will, will feature 20,000 square feet of ground-floor retail and include a mix of studio to three-bedroom units. Community amenities will include food and beverage options throughout the building, social and coworking lounges, a fitness center, outdoor terraces, swimming pool, grills and firepits. Akara Partners expects to wrap up construction on the community in the fall of 2019.

May 3, 2018

Development Retail Southeast Virginia

Atlanta-Based Brewery to Open Second Location in Virginia Beach

by Camren Skelton May 3, 2018

VIRGINIA BEACH, VA. — Atlanta-based New Realm Brewing has unveiled plans to open a second brewery and taproom in Virginia Beach. New Realm is partnering with The Miller Group to lease a 58,000-square-foot facility, located four miles from the oceanfront at 1209 Craft Lane. The space formerly housed Green Flash Brewing Co. The new brewery will be capable of brewing 40,000 barrels annually and will feature a tasting room, outdoor beer garden and private event space. The facility will open upon receiving applicable licenses required for operation. Carey Falcone, Bob Powers and Mitch Steele founded New Realm in 2016. The brewery’s 20,000-square-foot flagship facility opened in January 2018 along the Atlanta BeltLine’s Eastside Trail.

May 3, 2018

Acquisitions Maryland Mixed-Use Southeast

Feldman Bergin, Fortified Property Acquire Mixed-Use Complex in Columbia, Maryland for $25.6M

by Camren Skelton May 3, 2018

COLUMBIA, MD. — Feldman Bergin Properties, in a joint venture with Fortified Property Group, has acquired Columbia Business Center, a nine-building mixed-use complex in Columbia, for $25.6 million. Don Schline of MacKenzie Commercial Real Estate Services arranged the transaction on behalf of the seller, an institutional investor. The single-story portfolio located along Dobbin Road includes 106,255 square feet of office, laboratory, research and development and retail space. The portfolio was 84 percent leased at the time of sale to tenants including Chiron Technology Services, DSM Nutritional Products, the Motor Vehicle Administration, Sherwin-Williams and Sushi King. The new owners plan to immediately execute a capital improvement program, including exterior cosmetic renovations and modernized amenities. David Fritz, Spence Daw and Ryan Minnehan of NAI KLNB will handle Columbia Business Center’s leasing assignment, and MacKenzie Commercial Real Estate Services will manage the property.

May 3, 2018

Acquisitions Florida Retail Southeast

Plaza Advisors Arranges $19.8M Sale of Shopping Center in Tampa

by Camren Skelton May 3, 2018

TAMPA, FLA. — Plaza Advisors has arranged the sale of Southtown Center, a 43,669-square-foot shopping center located at the intersection of South Dale Mabry Highway and West Neptune Street in Tampa. Hillsborough County records show the asset sold for $19.8 million, or $452 per square foot. Jim Michalak, Mike Cvetetic and Keith Nurre of Plaza Advisors arranged the transaction on behalf of the seller, a Los Angeles-based investor. An Australian entity acquired Southtown Center, which was 97 percent leased at the time of sale to tenants such as Moe’s Southwest Grill, Tropical Smoothie Café, Cold Stone Creamery, Hair Cuttery, Weight Watchers, Massage Envy, Pure Barre, European Wax Center, Burger Monger, DaVita Dialysis and Century 21.

May 3, 2018

Acquisitions Industrial South Carolina Southeast

HFF Brokers Sale of 451,370 SF Industrial Facility Near Charleston

by Camren Skelton May 3, 2018

SUMMERVILLE, S.C. — HFF has brokered the sale of Newton Way Industrial Center, a 451,370-square-foot distribution and manufacturing facility located in Summervillle, roughly 22 miles from the Port of Charleston. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, Gramercy Property Trust. Bob Barrineau and Brendan Redeyoff of CBRE represented the undisclosed buyer, a user that plans to also occupy the building. Newton Way Industrial Center was constructed in 2007 and features 30-foot clear heights, 37 dock-high loading doors, 22 drive-in doors, parking and storing for up to 100 trailers, 513 parking space and 17,900 square feet of office space. In addition, the property has Foreign Trade Zone status, which provides tenants with the ability to facilitate international mercantile activity if needed.

May 3, 2018

Company News Maryland Multifamily New York Northeast Seniors Housing Southeast Top Stories

Annaly to Acquire Healthcare Real Estate Specialist MTGE for $900M in REIT Merger

by Camren Skelton May 3, 2018

NEW YORK AND BETHESDA, MD. — New York-based Annaly Capital Management Inc. (NYSE: NLY) has agreed to acquire Bethesda-based real estate investment trust MTGE Investment Corp. (NASDAQ: MTGE) for $900 million in cash and stock. The transaction values healthcare real estate specialist MTGE at $19.65 per share. Under the deal, MTGE shareholders will have the option to receive cash, stock or a combination of the two. In addition, Annaly will assume the existing $55 million in MTGE preferred stock. The transaction is expected to close in the third quarter. “The acquisition of MTGE adds complementary assets, deepens the breadth of our investment alternatives, is accretive to earnings and provides immediate cost savings and efficiencies to shareholders,” says Kevin Keyes, chairman, CEO and president of Annaly. MTGE invests in and manages a portfolio of mortgage-backed securities and investments in triple net leased healthcare real estate. The company is externally managed and advised by MTGE Management LLC, an affiliate of AGNC Investment Corp. As of Dec. 31, MTGE’s portfolio included $6.6 billion in assets. With approximately $104.3 billion in assets as of March 31, Annaly’s portfolio includes securities, loans and equity in the residential and commercial markets. The transaction marks Annaly’s third …

May 3, 2018

Newer Posts

Older Posts