Southeast

McCraney Acquires 43.9 Acres Near Orlando for 652,696 SF Industrial Development

by Camren Skelton May 2, 2018

OCOEE, FLA. — McCraney Property Co. has acquired 43.9 acres in Ocoee, roughly 12 miles west of Orlando, with plans to develop a 652,696-square-foot industrial park. Dubbed Distribution 429, the development will include three buildings: Building 100, totaling 104,950 square feet; Building 200, totaling 145,164 square feet; and Building 300, totaling 402,582 square feet. William “Bo” Bradford of Lee & Associates represented the undisclosed seller in the land sale. McCraney expects to break ground on the development later this month. The buildings will target end-users requiring freight forwarding, third-party logistics and fulfillment needs.

May 2, 2018

Acquisitions Alabama Retail Southeast

Matthews Arranges $13.8M Sale of Shopping Center in Huntsville

by Camren Skelton May 2, 2018

HUNTSVILLE, ALA. — Matthews Real Estate Investment Services has arranged the $13.8 million sale of The Gallery Shopping Center, a 101,498-square-foot retail center located near the $350 million Mid-City mall redevelopment in Huntsville. A Florida-based private family office acquired the asset from Plaza Properties via a 1031 exchange. Jordan Powell and Scott Henard of Matthews arranged the transaction on behalf of both parties. The Gallery Shopping Center was 95 percent leased at the time of sale.

May 2, 2018

Acquisitions Georgia Retail Southeast

HFF Brokers Sale of 103,711 SF Kroger-Anchored Center in Metro Atlanta

by Camren Skelton May 2, 2018

ACWORTH, GA. — HFF has brokered the sale of Cherokee Commons, a 103,711-square-foot shopping center in Acworth, roughly 30 miles northwest of Atlanta. Jim Hamilton, Brad Buchanan, Michael Allison and Ryan Stoffer of HFF arranged the transaction on behalf of the seller, PMAT Cos. Collett Capital acquired the asset for an undisclosed price. Kroger anchors Cherokee Commons, which was 89 percent leased at the time of sale.

May 2, 2018

Development Florida Mixed-Use Southeast

Cordish Cos., Eldorado Resorts to Co-Develop 223-Acre Mixed-Use Project in South Florida

by Camren Skelton May 1, 2018

POMPANO, FLA. — The Cordish Cos. and Eldorado Resorts Inc. have formed a 50/50 joint venture to plan, design and develop a new 223-acre mixed-use project in Pompano. Located 35 miles north of Miami and roughly 10 miles north of Fort Lauderdale, the project will encompass the site of the existing Isle Casino Racing Pompano Park. Eldorado Resorts owns the 223-acre site around the casino and racing track. The development will include a corporate office campus, residential units, retail, dining, entertainment space and a hotel. The Cordish Cos. develops and operates hotels, casino, retail and restaurant projects across the country. In Florida, the Baltimore-based firm developed the Seminole Hard Rock Hotel & Casinos in Hollywood and Tampa, and in April the company unveiled plans to co-develop a $2.5 billion mixed-use village surrounding EverBank Field in Jacksonville. Eldorado Resorts, a Nevada-based casino entertainment company, owns and operates 20 properties in 10 states.

May 1, 2018

Acquisitions Georgia Retail Southeast Tennessee

PAC Acquires Two Publix-Anchored Centers in Atlanta, Nashville Metros

by Camren Skelton May 1, 2018

ACWORTH, GA. AND GALLATIN, TENN. — Preferred Apartment Communities (PAC) has acquired two Publix-anchored shopping centers totaling 139,000 square feet in Acworth and Gallatin. Atlanta-based PAC acquired the portfolio through its wholly owned subsidiary, New Market Properties. The name of the seller and sales price were not disclosed. In Acworth, PAC acquired Governors Towne Square, which is located roughly 32 miles northwest of Atlanta. In Gallatin, a suburb located 30 miles northeast of Nashville, PAC acquired Greensboro Village.

May 1, 2018

Acquisitions Florida Multifamily Southeast

Franklin Street Brokers $17.9M Sale of Apartment Community in Metro Orlando

by Camren Skelton May 1, 2018

ALTAMONTE SPRINGS, FLA. — Franklin Street has arranged the $17.9 million sale of Wymore Grove Apartments, a 200-unit multifamily community in Altamonte Springs, roughly 10 miles north of Orlando. Robert Goldfinger, Darron Kattan, Kevin Kelleher and Zachary Ames of Franklin Street arranged the transaction on behalf of both the seller, Wynmore Grove Partnership, and the buyer, Israeli-based 360 Wymore ROI LP. Wymore Grove was constructed in 1973 and features a swimming pool, tennis courts and a fitness center. The new owner plans to renovate the property with exterior, interior and common area upgrades.

May 1, 2018

Acquisitions Florida Office Southeast

NKF Capital Markets Negotiates $10.8M Sale of Office Building in South Florida

by Camren Skelton May 1, 2018

PORT ST. LUCIE, FLA. — NKF Capital Markets has arranged the $10.8 million sale of an office building located at 300 N.W. Peacock Blvd. in Port St. Lucie, a city in South Florida’s St. Lucie County. The two-story, 51,527-square-foot building is fully leased to healthcare company McKesson, also known as Change Healthcare. Michael Lohmann, Michael Lapointe, Adam Greenberg and Scott Gordon of NKF Capital Markets arranged the transaction on behalf of the seller, PSL Advanced LLC. An undisclosed buyer acquired the asset through a 1031 exchange

May 1, 2018

Acquisitions Industrial North Carolina Southeast

HFF Arranges $6.8M Sale of Industrial Building in High Point, North Carolina

by Camren Skelton May 1, 2018

HIGH POINT, N.C. — HFF has arranged the $6.8 million sale of an industrial building located at 4160 Mendenhall Oaks Parkway, within the master-planned Mendenhall Business Park in High Point. Chris Norvell and Patrick Nally of HFF arranged the transaction on behalf of the seller, a partnership between a private company and Somerset Properties. Dalfen America Corp. acquired the property, which totals 107,480 square feet and features 24-foot clear heights, two drive-in doors and the ability to add additional loading via 14 knock-out panels. The building was fully leased at the time of sale to three tenants, two of which are headquartered at the facility. In addition, HFF is representing the seller in marketing four single-story office buildings and two multi-story office buildings located within Mendenhall Business Park.

May 1, 2018

Development Florida Mixed-Use Southeast

Cordish Cos., Jacksonville Jaguars to Co-Develop $2.5B Mixed-Use Project Around EverBank Field

by Camren Skelton April 30, 2018

JACKSONVILLE, FLA. — Baltimore-based development firm The Cordish Cos. has been selected to co-develop a $2.5 billion mixed-use village surrounding EverBank Field, home of the National Football League’s Jacksonville Jaguars. The NFL franchise, in conjunction with Iguana Investments, a company controlled by Jaguars owner Shad Khan, will work with Cordish to develop the more than 4 million-square-foot project, located steps from the stadium, Daily’s Place amphitheater, Veterans Memorial Arena and the Baseball Grounds of Jacksonville. Architecture firm Beyer Blinder Belle is designing the development, which will feature dining, entertainment, retail, office, hotels and residential units. A construction timeline was not disclosed. The Cordish Cos. has partnered with leading professional sports franchises and media companies including the St. Louis Cardinals, FOX Sports, Philadelphia Flyers, NBC Sports and the Texas Rangers. The Jacksonville project hinges on approval from environmental regulators, according to local media reports. The brownfield site slated for development was previously used by shipyards and tank farms, and would require a cleanup of petroleum-contaminated soil beneath the pavement.

April 30, 2018

Development Florida Multifamily Seniors Housing Southeast

Big Rock Partners Opens $82M Seniors Housing Community in Central Florida

by Camren Skelton April 30, 2018

CELEBRATION, FLA. — Delray Beach, Fla.-based Big Rock Partners has opened Windsor at Celebration, a 239-unit seniors housing community in Celebration, the Disney-originated master-planned community in Central Florida. Windsor at Celebration features a mix of independent living, assisted living and memory care units. Community amenities include dining venues, a theater, rooftop bar, indoor aquatic center, fitness center, salon, spa and entertainment and leisure programs. Life Care Services, an LCS Company, is managing the community. Balfour Beatty was the project’s general contractor, and Gensler was the architect. Walker & Dunlop arranged a $41 million construction loan through Bank of the Ozarks for the project.

April 30, 2018

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