Southeast

HSA Signs XPO Logistics to 279,199 SF Lease at New Industrial Property in Metro Nashville

by Camren Skelton January 25, 2018

LEBANON, TENN. — HSA Commercial Real Estate has secured a 279,199-square-foot lease with XPO Logistics Supply Chain Inc. at Commerce Farms V, a newly constructed industrial building in Lebanon, an eastern suburb of Nashville. The logistics and transportation service provider has 1,444 locations around the world. HSA Commercial Real Estate completed construction on the 651,380-square-foot building on a speculative basis in late 2017. Located at the intersection of State Route 840 and Highway 109, the building is the last site within Commerce Farms Business Center. Randy Wolcott, Chad Tuck and Joe DeLemos of NorthStar Real Estate Advisors arranged the lease on behalf of HSA Commercial Real Estate. Sue Earnest of Avison Young and Dave Saltzman of Lee & Associates represented XPO Logistics, which is scheduled to take occupancy in May after a limited interior build-out is completed. GEODIS Logistics LLC occupies the remaining 372,181 square feet of Commerce Farms V.

January 25, 2018

Features Multifamily Northeast Pennsylvania Seniors Housing Southeast Top Stories

Berkadia Forecast: Southeast to Garner Bulk of Multifamily Investment, Financing Activity in 2018

by John Nelson January 25, 2018

AMBLER, PA. — Mortgage bankers and investment sales brokers alike expect multifamily markets in the Southeast to record more investment and financing activity than any other region in 2018. In Berkadia’s inaugural poll of nearly 150 staffers across 60 offices, the company reveals that more than one-third (36 percent) of its respondents predict the Southeast would see the most deals take place this year. “Population influx, continued job growth and significant development stabilization will make the Southeast a destination for commercial real estate growth and investor appetite in the coming months,” says Ernie Katai, executive vice president and head of production at Ambler-based Berkadia. For example, the Atlanta metro area is on track to add 2.5 million people over the next 25 years, the equivalent of adding the entire metro Charlotte population, according to the Atlanta Regional Commission. This type of population growth is attractive for employers looking for a new base of operations. This week French car manufacturer Groupe PSA announced that it chose Atlanta for its North American headquarters, and media outlets are reporting that Facebook is interested in building a massive data center complex in the metro area. Atlanta recently made the short list for Amazon’s second …

January 25, 2018

Georgia Hospitality Southeast

Hunter Arranges $68.8M Sale of Three Marriott-Branded Hotels in Florida

by Camren Skelton January 24, 2018

ATLANTA — Atlanta-based Hunter Hotel Advisors has arranged the $68.8 million sale of three Marriott-branded hotels located throughout Florida. Trey Scott, Shamir Patel, Robert Taylor and Steve Taylor of Hunter arranged the transaction on behalf of the seller, an affiliate of Rockwood Capital. An affiliate of Ocean Properties acquired two of the hotels in the portfolio — the 153-room Courtyard Sarasota/Bradenton and the 149-room Springhill Suites Tampa Westshore, both in the Tampa Bay area. An undisclosed private investor acquired the 152-room Courtyard Boynton Beach in Palm Beach County. Ocean Properties will continue to manage all three recently renovated hotels under a long-term management agreement.

January 24, 2018

Georgia Retail Southeast

Cushman & Wakefield Brokers $68M Sale of New Whole Foods-Anchored Center in Metro Atlanta

by Camren Skelton January 24, 2018

CHAMBLEE, GA. — Cushman & Wakefield has brokered the sale of Peachtree Station, a 106,372-square-foot retail center in Chamblee, a city 15 miles north of downtown Atlanta. The center is located at 5001 Peachtree Blvd. and features 1,000 feet of frontage along the thoroughfare. Fain Hicks of Cushman & Wakefield arranged the transaction on behalf of the seller and developer, S.J. Collins Enterprises. Dallas-based Sarofim Realty Advisors acquired the center for approximately $68 million, according to the Atlanta Business Chronicle. The property was delivered in 2017 and was fully preleased prior to completion. A 45,000-square-foot Whole Foods Market anchors the center. Additional tenants include Starbucks Coffee, Verizon Wireless, CRS Outdoor, Mattress Firm, The Cook’s Warehouse, Banfield Pet Hospital, Zoë’s Kitchen and Chipotle Mexican Grill.

January 24, 2018

Georgia Industrial Southeast

Monmouth Acquires New 831,764 SF Industrial Building in Savannah for $57.5M

by Camren Skelton January 24, 2018

SAVANNAH, GA. — Monmouth Real Estate Investment Corp. has acquired an 831,764-square-foot industrial building located at 590 Northport Parkway in Savannah for $57.5 million. The company acquired the asset from CRG, the real estate development arm of Clayco, which delivered the building last year. The warehouse is situated on approximately 62.4 acres within the two-building Northport Commerce Center, roughly seven miles from the Port of Savannah. The property is net-leased for 10 years to Shaw Industries Inc., a Georgia-based flooring supplier and wholly owned subsidiary of Berkshire Hathaway Inc. Esmael Hill of The Net Lease Group (NLG) represented the seller in the transaction. NLG also arranged equity to finance the construction of the facility, which CRG originally developed on a speculative basis.

January 24, 2018

Retail Southeast Virginia

JCR Buys Shopping Center in Northern Virginia from EDENS for $31M

by Camren Skelton January 24, 2018

MANASSAS, VA. — The JCR Cos. has acquired the Center at Innovation, a 101,990-square-foot shopping center in Manassas, a city in northern Virginia, for $31 million. The center is located on Nokesville Road, just west of the interchange with Prince William Parkway. HFF arranged the transaction on behalf of the seller, EDENS. Super Target shadow-anchors the center, which was more than 90 percent leased at the time of sale to tenants including T.J. Maxx, PetSmart, Chick-fil-A, Tropical Smoothie Café, GameStop, Verizon Wireless and Red Robin. JCR plans to sell the three pad sites that are currently leased to Chick-fil-A, SunTrust Bank and Red Robin, and to fully lease the inline space. Constructed in 2008, Center at Innovation includes five buildings and 482 parking spaces. The property marks JCR’s second shopping center acquisition in Manassas.

January 24, 2018

Florida Loans Office Southeast

Ready Capital Closes $6.4M Acquisition Loan for Office Building in Palm Beach County

by Camren Skelton January 24, 2018

BOYNTON BEACH, FLA. — Ready Capital Structured Finance has arranged a $6.4 million loan for the acquisition, renovation and stabilization of a 100,000-square-foot office building located at 3301 Quantum Blvd. in Boynton Beach, a city in Palm Beach County. Ready Capital arranged the three-year, floating-rate loan with two extension options and flexible prepayment on behalf of the undisclosed borrower. Planned renovations include landscaping upgrades, HVAC replacement, parking lot repairs, common area modernization and roof replacement, followed by a re-tenanting of the property at market rental rates.

January 24, 2018

North Carolina Office Southeast

HFF Brokers $55.6M Sale of Two-Building Office Park in Triangle

by Camren Skelton January 23, 2018

DURHAM, N.C. — HFF has arranged the $55.6 million sale of Palladian Corporate Center, a two-building, 201,008-square-foot office complex in Durham. Ryan Clutter, Scot Humphrey and Chris Lingerfelt of HFF arranged the transaction on behalf of the seller, an institutional owner advised by Clarion Partners LLC. An affiliate of Innovatus acquired the asset. In addition, Brent Bowman of HFF arranged acquisition financing for the asset through Citizens Bank on behalf of the new owner. Palladian Corporate Center is located at 200 and 240 Leigh Farm Road, adjacent to Interstate 40, along the Highway 54 corridor. Constructed in 2005 and 2007, the four-story buildings feature landscaped exteriors, brick and glass façades, weekly scheduled food trucks and adjacent walking trails. Palladian Corporate Center is home to tenants including Northwestern Mutual, Eco-Site LLC and AICPA’s corporate headquarters. At the time of sale, the property was 98.4 percent leased.

January 23, 2018

District of Columbia Hospitality Loans Southeast

PCCP Provides $44.9M Acquisition Loan for Embassy Suites Hotel in D.C.

by Camren Skelton January 23, 2018

WASHINGTON, D.C. — PCCP LLC has provided a $44.9 million loan for the acquisition of Embassy Suites at Chevy Chase Pavilion, a 198-room hotel in Washington D.C.’s Friendship Heights neighborhood. Arden Group acquired the asset from Clarion Partners. The hotel is located at 4300 Military Road N.W., on the border of northwest Washington, D.C. and Chevy Chase, Md., and within Chevy Chase Pavilion, a mixed-use complex. In addition to the hotel, the development includes a 205,000-square-foot office building and 155,000 square feet of retail. The hotel features an indoor swimming pool, health club and four meeting rooms. In addition, the hotel has access to Chevy Chase Pavilion’s 675-space underground parking garage and direct underground access to the Red Line Metro Station.

January 23, 2018

Florida Industrial Southeast

Cushman & Wakefield Arranges $22.8M Sale of Flex Industrial Park in Miami-Dade County

by Camren Skelton January 23, 2018

DORAL, FLA. — Cushman & Wakefield has arranged the $22.8 million sale of Transal Park, a six-building flex industrial campus located at 8200-8290 N.W. 27th St. in Doral. Mike Davis, Miguel Alcivar, Dominic Montazemi, Scott O’Donnell, Michael Lerner and Rick Brugge of Cushman & Wakefield, in conjunction with Cushman & Wakefield leasing partners Wayne Ramoski and Gian Rodriguez, arranged the transaction on behalf of the undisclosed seller. SVF Acquisitions LLC acquired the property. Transal Park comprises six one-story buildings totaling 134,175 square feet. The buildings feature flexible bays with a combination of direct-access front office space and rear warehouse with grade-level entries to truck courts. Other features include tenant signage, on-site security, a restaurant and a parking ratio of 3.6 spaces per 1,000 rentable square feet. At the time of sale, Transal Park was 88 percent leased to tenants including United States Medical, South Florida Health Management, Office Bargain Center, Encore Optical, Miami Vet Center and Doral Digital Reprographics.

January 23, 2018

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