Southeast

PointOne Holdings, Biscayne Atlantic Sell Multifamily Community in Metro Atlanta for $33.5M

by Camren Skelton September 18, 2017

LITHIA SPRINGS, GA. — PointOne Holdings, in a joint venture with Biscayne Atlantic, has sold Waterford Point Apartments, a 344-unit multifamily community in Lithia Springs, for $33.5 million. The buyer was not disclosed. Located at 670 Thornton Road, Waterford Point is roughly 18 miles west of Atlanta. The joint venture originally acquired the property in 2014 for $18.7 million and invested roughly $2.5 million in capital improvements, including upgraded interiors, added amenities and updated infrastructure. Community amenities include a swimming pool, fitness center and clubhouse. At the time of sale, the community was 98 percent occupied.

September 18, 2017

Louisiana Retail Southeast

Edge Realty Capital Brokers Sale of 112,108 SF Retail Center in Lafayette, Louisiana

by Camren Skelton September 18, 2017

LAFAYETTE, LA. — Edge Realty Capital Markets has brokered the sale of Parkway Plaza, a 112,108-square-foot shopping center in Lafayette. Brandon Beeson and Kevin Holland of Edge Realty Capital represented the seller, 1996 Parkway Plaza Partnership LLC. TCP Capital Partners LLC acquired the property for an undisclosed price. At the time of sale, the property was 98.3 percent leased to tenants including Citi Trends, Sears Outlet, It’s Fashion Metro, Dollar Tree, Kool Smiles and Rainbow.

September 18, 2017

North Carolina Office Southeast

Vestis Capital Arranges $8.2M Sale of Office Building in Durham

by Camren Skelton September 18, 2017

DURHAM, N.C. — Vestis Capital Partners has brokered the $8.2 million sale of Valley View, a 54,000-square-foot office building located at 3511 Shannon Road in Durham. Drew Eller of Vestis Capital Partners arranged the transaction on behalf of the seller, Valley View Office LLC. Bo Hargrove and Street Jones of Rich Commercial Realty represented the buyer, a Massachusetts-based private investor. At the time of sale, Valley View was 90 percent leased.

September 18, 2017

Georgia Office Southeast

Avison Young Secures 40,000 SF Lease for Boston Consulting Group in Downtown Atlanta

by Camren Skelton September 18, 2017

ATLANTA — Avison Young has arranged a 10-year, 40,000-square-foot lease for The Boston Consulting Group (BCG), a global management consulting firm, at 100 Peachtree in downtown Atlanta. Phil and Hilton Barry of Avison Young represented BCG in the lease transaction. Scott DeMyer and C. Deming Fish of Colliers International represented the landlord, Zeller Realty Group. BCG is expected to bring roughly 200 jobs to Atlanta upon moving to the building, in an effort to co-locate business support jobs into one central office. The Boston-based company will invest nearly $9 million renovating two floors of the building. Construction is slated for completion in the first half of 2018. Formerly known as the Equitable Building, the 622,084-square-foot 100 Peachtree features a conference center, fitness center and is located within walking distance of a variety of restaurants. The building is home to Georgia’s Own Credit Union, Koch Industries and CallRail.

September 18, 2017

Loans Mixed-Use Southeast Virginia

Berkadia Arranges $157M Construction Loan for Target-Anchored Mixed-Use Project in Metro D.C.

by Camren Skelton September 15, 2017

ARLINGTON, VA. — Berkadia has secured a $157 million construction loan for 750 North Glebe, a mixed-use project under construction in Arlington, roughly five miles west of Washington, D.C. Upon completion, 750 North Glebe will feature 491 residential units and 61,000 square feet of retail space, which will be anchored by a 41,000-square-foot Target store. J. Tyler Blue, Paul Wallace and Jimmy Meadows of Berkadia secured the 18-year loan through Northwestern Mutual Life Insurance Co. on behalf of the developer, Bethesda, Md.-based Saul Centers.

September 15, 2017

District of Columbia Office Southeast

Akridge, Stars Investments Break Ground on Office Transformation in D.C.

by Camren Skelton September 15, 2017

WASHINGTON, D.C. — Akridge, in partnership with Stars Investments, has broken ground on 1101 Sixteenth Street, an office redevelopment project that will transform two office buildings in Washington, D.C. Designed by HOK, 1101 Sixteenth will convert the buildings at 1101 and 1111 Sixteenth St. into one freestanding, 100,000-square-foot office building. The two buildings previously housed the American Association of University Women and the American Beverage Association. The redeveloped building will feature a fitness facility, penthouse lounge and a rooftop terrace with views of the White House. EagleBank is financing the project, which is slated to deliver in fall 2018.

September 15, 2017

Multifamily Southeast Virginia

S.L. Nusbaum to Deliver 126-Unit Multifamily Community in Downtown Norfolk

by Camren Skelton September 15, 2017

NORFOLK, VA. — S.L. Nusbaum Realty Co. has broken ground on The St. Paul’s Apartments, a 126-unit multifamily community located in downtown Norfolk. The design team includes TS3 Architects, Siska Aurand, The Livas Group, Pace Collaborative, Speight Marshall Francis and Details Interior Design. Hoy Construction Co. will lead construction of the community. The St. Paul’s Apartments will feature a mix of one-, two- and three-bedroom units with walk-in closets and patios or balconies. Community amenities will include a clubhouse, swimming pool, playground, barbeque area, fitness center and a dog park. The project is slated for completion by the first quarter of 2019.

September 15, 2017

Georgia Industrial Southeast

Liberty Property Trust to Develop 840,000 SF Distribution Center South of Atlanta

by Camren Skelton September 15, 2017

JACKSON, GA. — Liberty Property Trust has unveiled plans to develop Liberty Commerce Center, an 840,000-square-foot distribution center in Jackson, roughly 35 miles south of Hartsfield-Jackson Atlanta International Airport. The developer purchased the 80-acre site at the corner of Windy Lane and Midway Road in May. Upon completion, the building will feature 40-foot clear-heights, 56- by 51-foot column spacing, 161 dock doors, a 70-foot speed bay, ESFR sprinkler systems, a truck court with 175 spaces and 445 parking spaces. In addition, the building will be designed to meet LEED and Energy Star certification. Future tenants can use the remaining land to either develop a second 240,000-square-foot rear-load building with car parking, build a 266-spot trailer parking area with storage or develop an up to 1,070-space car parking area with storage.

September 15, 2017

North Carolina Office Southeast

Cushman & Wakefield Negotiates $35.5M Sale of Office Building in Uptown Charlotte

by Camren Skelton September 15, 2017

CHARLOTTE, N.C. — Cushman & Wakefield has brokered the $35.5 million sale of 200 South Tryon, a 215,101-square-foot office building in Charlotte’s Uptown district. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller, LNR Partners. The buyer, an entity controlled by Miami based-Jewell Capital LLC, acquired the asset. Constructed in 1962, the 17-story property was renovated in 2001 to include interior and exterior modifications and new building systems, followed by further improvements in 2014. The building is located within walking distance of more than 200 restaurants, Romare Bearden Park and public transit. At the time of sale, 200 South Tryon was 85 percent leased.

September 15, 2017

Loans Maryland Mixed-Use Southeast Top Stories

Goldman Sachs Provides $233M Private Equity Investment for Mixed-Use Redevelopment in Baltimore

by Kristin Harlow September 15, 2017

BALTIMORE — Goldman Sachs has committed $233 million to the Port Covington redevelopment project in Baltimore. This is the largest single private equity investment made by the firm’s Urban Investment Group (UIG) to date, according to a Port Covington news release. Port Covington is a 235-acre mixed-use redevelopment located on Baltimore’s waterfront adjacent to I-95. At completion, the 25-year project will include up to 18 million square feet of retail, entertainment, office, hotel and residential space. In addition, the project will encompass 2.5 miles of restored waterfront and 40 acres of parks and green space. Sagamore Development Co. and the UIG have entered into an agreement to jointly own the project and develop the infrastructure in Port Covington. Marc Weller of Sagamore Development will lead the infrastructure development team. The joint venture will own and develop the land in Port Covington that is adjacent to the campus of the future global headquarters of Under Armour. The footwear and sports apparel company owns 50 acres of Port Covington land, and is not involved in this transaction. Other businesses with land parcels in Port Covington that are not part of the joint undertaking include City Garage, Nick’s Fish House, Sagamore Spirit Distillery …

September 15, 2017

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