Southeast

Northridge Capital, Insite Break Ground on 107,000 SF Office, Retail Building in Midtown Charlotte

by Camren Skelton November 10, 2017

CHARLOTTE, N.C. — Northridge Capital LLC, in partnership with Insite Properties, has broken ground on The Refinery, a 107,000-square-foot creative office and retail project located at 1213 W. Morehead St. in Charlotte’s Midtown district. The five-story building will include four upper levels of 22,500-square-foot floorplates, 10- to 14-foot ceilings heights and floor-to-ceiling glass windows. The first floor will be dedicated to retail space and will feature 16-foot ceiling heights. The Refinery will also feature a rooftop amenity space, free parking in a 350-space parking deck, electric car charging stations, interior bike storage, private showers and locker rooms and a gathering space in the main lobby. The building will sit adjacent to a 287-unit multifamily community currently under construction. In addition, The Refinery is within walking distance to a number of restaurants in Charlotte’s Freemore West neighborhood. Barry Fabyan and Charley Leavitt of JLL are handling the leasing assignment for the office portion of the project, and John Hadley of The Nichols Co. is overseeing retail leasing. The project team includes architect BB+M Architecture, civil engineer LandDesign and general contractor Edifice Construction. Northridge and Insite plan to deliver The Refinery in fall 2018.

November 10, 2017

Georgia Industrial Southeast

Eye Care Manufacturer Alcon to Invest $97M in Metro Atlanta Expansion

by Camren Skelton November 10, 2017

JOHNS CREEK, GA. — Eye care manufacturing company Alcon will invest $97 million to expand its production capacity in Johns Creek, roughly 27 miles north of Atlanta. The expansion will create about 100 new jobs at Alcon’s nearly 1 million-square-foot manufacturing campus, according to the Atlanta Business Chronicle. In 2015, Georgia Gov. Nathan Deal announced the company had created 550 jobs and invested $500 million in the Johns Creek community since 2013. Since the beginning of the growth project four years ago, Alcon has expanded the size of its manufacturing facility by 70,000 square feet. The multi-year project will expand the company’s production capacity for DAILIES TOTAL1 contact lenses.

November 10, 2017

Florida Loans Multifamily Southeast

Phillips Realty Capital Secures $19.2M Acquisition Loan for Multifamily Asset in Eastern Florida

by Camren Skelton November 10, 2017

MELBOURNE, FLA. — Phillips Realty Capital has arranged a $19.2 million loan for the acquisition and renovation of Landmark at Waverly Place, a 208-unit apartment community in Melbourne, roughly 70 miles southeast of Orlando. Adam Bieber of Phillips Realty Capital arranged the loan through Ares Management on behalf of the borrower, BG Capital Management. Landmark at Waverly Place features a resort-style pool, clubhouse, fitness center, poolside kitchens and a dog park. Constructed in 1987, the property offers one- to three-bedroom floor plans. BG Capital Management will upgrade 88 of the units over the next two years.

November 10, 2017

Georgia Multifamily Southeast

Praedium Group Acquires New 298-Unit Apartment Community in Decatur, Georgia

by Camren Skelton November 10, 2017

DECATUR, GA. — New York City-based The Praedium Group has acquired Reserve Decatur, a 298-unit multifamily community in Decatur, roughly eight miles east of downtown Atlanta. Atlantic Realty Partners developed the property. The sales price was not disclosed. Constructed in 2016, Reserve Decatur includes one-, two- and three-bedroom units ranging in size from 620 to 1,555 square feet. Unit interiors feature quartz countertops, nine-foot ceilings, built-in Bluetooth sound systems and green features including low flow plumbing fixtures and energy efficient windows. Community amenities include a clubhouse, cyber café, swimming pool with outdoor kitchen and cabana, rooftop entertainment lounge, dog park and a dog spa.

November 10, 2017

Retail South Carolina Southeast

Ziff Properties Sells Grocery-Anchored Center in Aiken, South Carolina for $7.1M

by Camren Skelton November 10, 2017

AIKEN, S.C. — Ziff Properties Inc. has sold Kalmia Plaza Shopping Center, a 215,262-square-foot retail center in Aiken, for $7.1 million. The Palomar Group represented Ziff Properties in the transaction. A Florida-based private buyer acquired the asset. Food Lion anchors the center, which was 76.6 percent leased at the time of sale to tenants including Ollie’s Bargain Outlet, Hibbett Sports, Rose’s Discount Store, Workout Anytime, Citi Trends, Metro PCS, Check N Go, Little Caesars and Waffle House.

November 10, 2017

District of Columbia Loans Multifamily Retail Southeast

ING Capital Leads $110M Refinancing of 310-Unit Multifamily, Retail Asset in D.C.

by Camren Skelton November 9, 2017

WASHINGTON, D.C. — ING Capital LLC has led the $110 million refinancing of Atlantic Plumbing, a 310-unit multifamily and retail property located at the intersection of 8th and V streets in Washington, D.C. BMO Harris Bank joined ING as a co-lender in the financing on behalf of the borrower, JBG Smith, a publicly traded REIT based in Chevy Chase, Md. Architect Morris Adjmi designed the 10-story, Class A building. The retail portion of the property is leased to tenants including Landmark Theaters, Tasty Burger, Declaration Pizza, Bazaar Spices and Hazel.

November 9, 2017

Florida Loans Mixed-Use Multifamily Southeast Student Housing

HFF Arranges $103.3M in Construction Financing for Mixed-Use, Student Housing Project in Downtown Orlando

by Camren Skelton November 9, 2017

ORLANDO, FLA. — HFF has arranged $103.3 million in financing for the development of a mixed-use, student housing development in downtown Orlando. The project is part of the University of Central Florida (UCF)/Valencia Downtown Campus at Creative Village. The Creative Village project is a redevelopment of the former Amway Arena site into a 68-acres mixed-use, transit-oriented community. Michael Weinberg, Brian Kelly and Mike Higgins of HFF arranged the financing on behalf of the project’s co-developers, DEVEN – Development Ventures Group Inc. and Ustler Development Inc. The financing included a $68.1 million construction loan from PCCP LLC, $29.9 million in joint venture equity from Halstatt Real Estate Partners and $5.3 million in sponsor equity contributed by the co-developers. The 15-story building will include 600 student housing beds, 11,000 square feet of ground floor retail space, 600 parking spaces and 102,500 square feet of space that is long-term leased to UCF and Valencia College for education and education support services. The project is slated for completion in August 2019 and will coincide with the opening of the UCF/Valencia Downtown Campus at Creative Village.

November 9, 2017

Office Southeast Virginia

Lowe, USAA Deliver 700,000 SF Office Building for National Science Foundation in Metro D.C.

by Camren Skelton November 9, 2017

ALEXANDRIA, VA. — Los Angeles-based Lowe (formerly Lowe Enterprises) and San Antonio-based USAA Real Estate have completed construction on a 19-story, 700,000-square-foot office building located at 2415 Eisenhower Ave. in Alexandria, eight miles south of Washington, D.C. The new building will serve as the headquarters for the National Science Foundation (NSF), a U.S. government agency that supports research and education in all the non-medical fields of science and engineering. Balfour Beatty Construction and WDG Architecture led the design team for the project, which is LEED Silver-certified. The building includes two interconnected towers with 19,000 square feet of ground floor retail space and three levels of below-grade parking. The NSF headquarters building features 36 conference rooms, a fitness center, health center, bike storage and electric vehicle charging stations. In addition, the property is located adjacent to the Eisenhower Avenue Metro Station.

November 9, 2017

Industrial Maryland Southeast

Amazon to Open 855,000 SF Fulfillment Center in Baltimore’s Sparrows Point

by Camren Skelton November 9, 2017

BALTIMORE — Amazon.com Inc. has unveiled plans to open its fourth Maryland fulfillment center at 1700 Sparrows Point Blvd. in Baltimore’s Sparrows Point community. Amazon currently employs more than 5,000 associations in the state at its various centers. The new 855,000-square-foot facility will create more than 1,500 full-time jobs upon completion. Associates at the facility will pick, pack and ship customer items such as electronics, books, housewares and toys. The new facility will open in 2019, according to The Baltimore Sun.

November 9, 2017

Florida Restaurant Retail Southeast

Thor Equities Breaks Ground on 63,000 SF Retail, Restaurant Development in Miami

by Camren Skelton November 9, 2017

MIAMI — Thor Equities has broken ground on Wynwood Walk, a 63,000-square-foot restaurant and retail development located at 2800 N.W. 2nd Ave. in Miami’s Wynwood Art District. Upon completion, the project, designed by Oppenheim Architecture, will feature new retail and restaurants, a green rooftop, paseo and a landscaped terrace with outdoor seating. Construction is scheduled for completion in November 2018.

November 9, 2017

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