Southeast

Exeter Breaks Ground on 561,750 SF Distribution Center Near Orlando International Airport

by Camren Skelton April 26, 2018

ORLANDO, FLA. — Exeter Property Group has broken ground on a 561,750-square-foot distribution center located at 9775 Air Commerce Parkway in Orlando. Situated adjacent to Orlando International Airport, the speculative building will feature 36-foot clear heights, 535-foot building depth, cross dock configuration, an ESFR sprinkler system, 185-foot truck court, 60-foot concrete truck apron, storage spaces for 112 trailers, 312 auto parking spaces and spec office space. GMA Architects designed the building, which is situated within the 230-acre Air CommercePark. Tampa-based ARCO Murray is the general contractor for the project, and Orlando-based Florida Engineering Group is the project’s civil engineer. Exeter expects to wrap up construction on the facility in February 2019.

April 26, 2018

Acquisitions Florida Retail Southeast

Matthews Brokers $10.6M Sale of Shopping Center in Eastern Florida

by Camren Skelton April 26, 2018

PALM COAST, FLA. — Matthews Real Estate Investment Services has arranged the $10.6 million sale of Old Kings Commons, an 84,759-square-foot shopping center in Palm Coast. Jordan Powell and Scott Henard of Matthews arranged the transaction on behalf of the buyer, a private family office based in South Florida. Jacksonville-based Regency Centers sold the asset. Beall’s Outlet and Staples anchor Old Kings Commons, and other tenants include Planet Fitness, Pinch-A-Penney and Dunkin’ Donuts/Baskin-Robbins.

April 26, 2018

Acquisitions Florida Office Southeast

NAI Realvest Arranges $7.9M Sale of Office Building in Orlando for Medical Equipment Company

by Camren Skelton April 26, 2018

ORLANDO, FLA. — NAI Realvest has brokered the $7.9 million sale of a 36,426-square-foot office building located at 622 E. Washington St. in Orlando. Jeff Bloom of NAI Realvest arranged the transaction on behalf of the buyer, OM Star Properties LLC, d/b/a Orchid Medical Equipment Co. The company will occupy 50 percent of the building for its new headquarters. John Worrell of Cite Partners arranged the transaction on behalf of the seller, ThorntonPark Central LLC. The sale also included a 134,681-square-foot parking garage.

April 26, 2018

Acquisitions Multifamily Southeast Virginia

Greysteel Negotiates $7.6M Sale of Nine-Property Multifamily Portfolio in Norfolk

by Camren Skelton April 26, 2018

NORFOLK, VA. — Greysteel has arranged the $7.6 million sale of the Norfolk Ocean View Portfolio, a nine-property multifamily portfolio located in Norfolk’s Ocean View neighborhood. Rawles Wilcox and Jared Emery of Greysteel arranged the transaction on behalf of both the seller, Boardwalk Realty & Development, and the buyer, Brick Lane Real Estate. The portfolio is located on the Willoughby Spit peninsula and comprises 104 units spread throughout nine individual properties: Neptune’s Waters, The Blue Marlin, Fish Tails, Fish Heads, Tradewinds, The Beach House, Fisherman’s Cove, The Castaways and Havana Beach. The units feature new appliances, refinished cabinets, resurfaced countertops, lighting packages, faux hardwood floors and new carpet.

April 26, 2018

Development Georgia Mixed-Use Southeast

Knotting, Ardent Break Ground on 35-Acre Adaptive Reuse Project in Athens, Georgia

by Camren Skelton April 25, 2018

ATHENS, GA. — Knotting Development, in partnership with the Ardent Cos., has broken ground on General Time Athens, an adaptive reuse project at the former Westclox Building in Athens. The first phase of the project will revitalize the 100,000-square-foot warehouse of the former clock manufacturer, located at 100 Newton Bridge Road, roughly two miles from the University of Georgia (UGA) campus. Terrapin Beer Co. will anchor the project, leasing 68,000 square feet of warehouse space. The Athens-based brewery has been situated across the street from the site for 11 years. Phase II of General Time Athens will include environmental remediation, as well as demolishing and rebuilding the original 250,000-square-foot Westclox manufacturing building. The space will house offices, shops and restaurants. In addition, the project will house residential units and a 3,000-seat music venue that will host beer and wine festivals, recreational events, movie nights and other community events. Charlottesville, Va.-based Red Light Management is developing the music venue in partnership with Knotting and Ardent. Headed by UGA graduate Michael Dinerman and Jennifer Davidson, Knotting Development worked closely with the Athens Clarke County (ACC) Commissioners, ACC Economic Development, ACC Leisure Services, small business owners and the surrounding community to curate the …

April 25, 2018

Acquisitions Multifamily North Carolina Southeast Student Housing

Vesper Holdings Acquires Student Housing Property Near UNC Greensboro for $40M

by Camren Skelton April 25, 2018

GREENSBORO, N.C. —Vesper Holdings has acquired University Village, a 600-bed student housing community in Greensboro, for $40 million. The name of the seller was not disclosed. The community is located across the street from the main entrance of the University of North Carolina at Greensboro (UNCG). Constructed in 2006, the community includes a mix of two-, three- and four-bedroom floor plans with bed-to-bath parity. Community amenities include a clubhouse, swimming pool, 24-hour fitness center, business center, computer lab and tanning bed. Vesper plans to invest $1 million to renovate unit interiors and amenities, as well as enhance the property’s exteriors.

April 25, 2018

Acquisitions Louisiana Office Southeast

Stirling Properties Brokers Sale of 14-Story Office Building Near New Orleans

by Camren Skelton April 25, 2018

METAIRIE, LA. — Stirling Properties has brokered the sale of The Executive Office Tower, a 184,608-square-foot office building located at 3500 N. Causeway Blvd. in Metairie, roughly eight miles northwest of New Orleans. Roger Bajon of Stirling Properties arranged the transaction on behalf of the undisclosed seller. A Dallas-based investor acquired the 14-story building for an undisclosed price. The Executive Office Tower is home to tenants such as Keystone Engineering.

April 25, 2018

Georgia Industrial Loans Southeast

HFF Arranges $11M Construction Loan for 281,025 SF Industrial Project in Metro Atlanta

by Camren Skelton April 25, 2018

FAIRBURN, GA. — HFF has arranged an $11 million construction loan for the development of Graham Logistics Center, a 281,025-square-foot industrial building in Fairburn. The property is situated on 25.7 acres at 7375 Graham Road, roughly 20 miles southwest of downtown Atlanta. Gregg Shapiro and Matthew Beam of HFF arranged the four-year, non-recourse, floating-rate loan through Brand Bank on behalf of the borrower and developer, Stream Realty Partners. Upon completion, Graham Logistics Center will be divisible into four suites with separate entrances and office space, and will feature 32-foot clear heights and rear loading doors. Stream Realty Partners expects to wrap up construction on the facility in 11 months.

April 25, 2018

Georgia Loans Multifamily Southeast Student Housing

NorthMarq Secures $6.4M Acquisition Loan for Student Housing Community in Milledgeville, Georgia

by Camren Skelton April 25, 2018

MILLEDGEVILLE, GA. — NorthMarq Capital has arranged a $6.4 million acquisition loan for Prospect Milledgeville, a 141-bed student housing community in Milledgeville. The community is located less than a mile from Georgia College & State University, Georgia Military College and downtown Milledgeville. Lee Weaver of NorthMarq’s Tampa office arranged the 12-year loan with a 30-year amortization schedule on behalf of the undisclosed borrower. Prospect Milledgeville features a resort-style pool, 24-hour fitness center, clubhouse with a grilling station and on-site management.

April 25, 2018

Georgia Industrial Leasing Activity Southeast

Core5 Signs Supply Chain User to 1.2 MSF Industrial Lease in Southwest Atlanta

by Camren Skelton April 24, 2018

ATLANTA — Atlanta-based Core5 Industrial Partners has signed Saddle Creek Logistics Services to a 1.2 million-square-foot lease at Southwest 85 Logistics Center, an industrial building under construction in southwest Atlanta. Saddle Creek, a provider of supply chain solutions for retailers, manufacturers and e-commerce companies, will use the new space to provide distribution services on behalf of a home improvement retailer for its Southeast locations. Core5 expects to wrap up construction on the facility this summer. Ladson Montgomery of Newmark Grubb Phoenix Realty Group and Dave Watson of Newmark Knight Frank represented Saddle Creek in the lease negotiations. The transaction marks the largest industrial lease signed to date in the Atlanta region, according to Core5. Southwest 85 Logistics Center will feature 40-foot clear heights, more than 590 trailer spaces and 200 auto parking spaces.

April 24, 2018

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