Southeast

Field & Stream to Open New Store in Huntington Mall in West Virginia

by John Nelson November 9, 2016

BARBOURSVILLE, W.VA. — Field & Stream, an outdoors specialty store owned and operated by Dick’s Sporting Goods, plans to open a new store in Huntington Mall in Barboursville. The new store will be situated adjacent to an existing Dick’s Sporting Goods and together the two retailers will occupy 100,000 square feet on the west side of the 1.5 million-square-foot mall, which is located off Route 60 and I-64. Niles, Ohio-based Cafaro Co. owns the mall and inked the lease for the new Field & Stream, which is slated to open in the fall of 2017.

November 9, 2016

Florida Loans Southeast

Eastern Union Funding Arranges $10.6M Acquisition Loan for Apartment Community in Jacksonville

by John Nelson November 9, 2016

JACKSONVILLE, FLA. — Eastern Union Funding arranged a $10.6 million acquisition loan for Southwind Townhomes, a 184-unit apartment community in Jacksonville. Ira Zlotowitz and Marc Belsky of Eastern Union Funding arranged the two-year loan with an 85 percent loan-to-cost ratio through Ladder Capital on behalf of the borrower, Blue Rock Partners LLC. The loan features an interest rate of 5.25 percent over LIBOR.

November 9, 2016

Georgia Hospitality Southeast

Legacy Ventures Completes Phase I of $9M Renovation of Downtown Atlanta Hotel

by John Nelson November 9, 2016

ATLANTA — Legacy Ventures has completed Phase I of the $9 million renovation underway at the Embassy Suites Atlanta by Hilton at Centennial Olympic Park, a 321-room hotel in downtown Atlanta. Phase I of the renovations included an upgrade of all suites, including new case goods, window treatments, lighting, artwork, wall coverings and new bathroom tile and mirrors. The corridors also received new carpet, wall covering, paint and lighting, and the lobby and atrium received new furniture. Additionally, the hotel’s restaurant, Ruth’s Chris Steak House, was updated with a reconfigured bar with more seating, and a new Starbucks Coffee was built at the hotel. Phase II, which will focus on upgrading the hotel’s meeting and pre-function rooms, is slated to begin later this year and will include new carpet, paint, lighting and wall coverings, as well as a new bar in the atrium. Legacy Ventures developed and manages the hotel, which opened in June 1999 as the first new-build hotel in downtown Atlanta in 15 years. Situated adjacent to Centennial Olympic Park, the hotel is within walking distance of the Georgia World Congress Center, the Georgia Aquarium, the World of Coca Cola Museum, the CNN Center, the College Football Hall …

November 9, 2016

Florida Office Southeast

Megastron Development Breaks Ground on Office Park in Orlando

by John Nelson November 8, 2016

ORLANDO, FLA. — Megastron Development LLC has broken ground on Kirkman Point II, a Class A, 134,000-square-foot office building located at the intersection of International Drive and Kirkman Road in south Orlando. The building is the second phase of development for Kirkman Point, an office park that will consist of four Class A office buildings and two parking decks upon completion. Megastron Development has selected Jay Dixon and Tom Rich of CBRE as the leasing agents for the entire Kirkman Point development. Megastron plans to deliver Kirkman Point II in the fourth quarter of 2017.

November 8, 2016

Maryland Southeast Student Housing

Greystar, Rockpoint Group Acquire Student Housing Community Near the University of Maryland

by John Nelson November 8, 2016

COLLEGE PARK, MD. — A partnership between Greystar Real Estate Partners LLC and Rockpoint Group has acquired University View, a 1,573-bed student housing community located near the University of Maryland campus in College Park. The joint venture plans to implement full interior upgrades to units and enhancements to the common areas and amenity spaces, including the conversion of the existing pool area into a resort-style amenity. The two-building property features studio, one-, two-, three- and four-bedroom units alongside 9,218 square feet of ground-floor retail space. Community amenities include two fitness centers, a barre and yoga studio, instructor-led fitness classes and shuttle service to campus.

November 8, 2016

Affordable Housing Florida Multifamily Southeast

Berkadia Brokers $14M Sale of Affordable Housing Complex in Miami

by John Nelson November 8, 2016

MIAMI — Berkadia has brokered the $14 million sale of Cutlerwood Apartments, a 161-unit affordable housing community located in Miami’s Cutler Bay neighborhood. Asden Realty purchased the Section 8 property from American Federated Tile Corp. for roughly $134 per square foot. Berkadia arranged a six-year, $11.4 million Freddie Mac loan on behalf of Asden Realty to fund the acquisition. Tal Frydman, Fernando Polanco and Yoav Yuhjtman of Berkadia’s South Florida office brokered the sale, and Mitch Sinberg and Matt Robbins from the same office arranged the financing.

November 8, 2016

Georgia Mixed-Use Southeast

Avison Young Arranges $13M Sale of Mixed-Use Development in Downtown Augusta

by John Nelson November 8, 2016

AUGUSTA, GA. — Avison Young has arranged the $13 million sale of Enterprise Mill, a 179,122-square-foot mixed-use development located on nine acres at 1450 Greene St. in downtown Augusta. The project features 118,928 square feet of office and retail space and 60 loft-style apartment residences. Enterprise Mill was approximately 90 percent occupied at the time of sale. AJ Belt III and David Duckworth of Avison Young represented the seller, Melaver/Enterprise Mill LLC, in the transaction. The buyer was Enterprise Mill LLC, a private investment group based in Coral Gables, Fla.

November 8, 2016

Retail Southeast Virginia

S.L. Nusbaum Brokers $8.2M Sale of Land in Hampton Roads Region for New Kroger Marketplace

by John Nelson November 8, 2016

CHESAPEAKE, VA. — S.L. Nusbaum Realty Co. has arranged the $8.2 million sale of 16.8 acres in Chesapeake for a new Kroger Marketplace store. Kroger LP I purchased the land situated at Dominion Boulevard and Cedar Road from Chesapeake Development. Tommy Drew of S.L. Nusbaum Realty represented Kroger in the purchase. The new 124,000-square-foot Kroger Marketplace will anchor the new shopping center at the site known as Dominion Commons. The new Kroger will feature 94,000 square feet of grocery space and 30,000 square feet of general merchandise, pharmacy, health and beauty and jewelry, as well as a fuel center. This store will be the sixth Kroger Marketplace in the Hampton Roads region and the second in Chesapeake. S.L. Nusbaum Realty is a member of X Team International.

November 8, 2016

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Forecast Survey: What’s Your Take on Real Estate in 2017?

by John Nelson November 8, 2016

REBusinessOnline.com is conducting a brief online survey of brokers, lenders and the owner/developer/manager community to gauge market expectations for 2017, and we welcome your participation. This survey should only take a few minutes to complete. The results will appear as a news feature story in the January 2017 issues of the regional publications. Questions cover a variety of topics, ranging from the outlook for investment sales and leasing activity in 2017 to development and lending opportunities to interest rates. Note: We prefer to attribute comments we quote from open-ended responses, however you may respond anonymously if you prefer. To take our 2017 broker survey, please click here To take our 2017 developer/owner/manager survey, please click here To take our 2017 lender survey, please click here Thanks for your participation! Matt Valley Editorial Director of Regional Real Estate Publications France Media, Inc.

November 8, 2016

Georgia Multifamily Southeast

Mill Creek Residential Breaks Ground on Phase II of Modera by Mill Creek-Morningside in Atlanta

by John Nelson November 7, 2016

ATLANTA — Mill Creek Residential has started construction on Phase II of Modera by Mill Creek-Morningside, which will add 21 apartment residences to the existing 300-unit community in Atlanta’s Morningside neighborhood. Phase II will face Piedmont Avenue and will also include 4,700 square feet of ground-floor retail space, which will add to the development’s 32,500 square feet of existing retail space anchored by a 26,755-square-foot Sprouts Farmers Market. Phase II will feature loft-style residences with 12-foot ceilings and a private patio or rooftop terrace featuring outdoor lighting, woven wood trellises and planters. The two phases of Modera by Mill Creek-Morningside will be connected via a pedestrian bridge.

November 7, 2016

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