ASHLAND, VA. — Devon USA plans to develop a 320,853-square-foot distribution center at 11600 N. Lakeride Parkway in Ashland, roughly 18 miles north of Richmond. Known as Building D, the spec project will be situated within Enterchange at Northlake Industrial Park. Set for completion in summer 2017, the property will feature 32-foot clear heights, an ESFR sprinkler system, cross-dock loading, dock-high doors and drive-in doors. The property’s sustainable features will include a white reflective roof, skylights, LED lighting and a R30 insulated roof. Richmond-based Devon USA has selected Evan Magrill and N. Dean Meyer of Cushman & Wakefield | Thalhimer to handle Building D’s leasing responsibilities.
ATLANTA — PGi, an Atlanta-based software provider, has renewed its lease at the company’s corporate headquarters at the Terminus 100 office tower in Atlanta’s Buckhead district. The company also renewed and expanded its lease at the GA 400 Center office building in Alpharetta. The two 12-year lease deals total roughly 70,000 square feet. PGi signed its lease renewal at Terminus 100 with Cousins Properties and signed its lease renewal and expansion at GA 400 Center with TPA Group. PGi has also selected architect Gensler to redesign the company’s office space at the two locations. Patrick Duffy and Taylor Senter of Newmark Grubb Knight Frank advised PGi on the lease deals and the redesign project.
MOBILE, ALA. — Wool Finance Partners has arranged a $7.9 million construction loan for the development of a 101,000-square-foot Publix-anchored shopping center in Mobile. The shopping center is a joint venture between Charlotte-based MAB American Retail Partners LLC and Oak Brook, Ill.-based Inland Retail Centers LLC. Publix will occupy a freestanding, 39,000-square-foot store within the development. Matt Lebenson of Wool Finance arranged the two-year construction loan through an unnamed regional bank. The loan features a 55 percent loan-to-cost ratio and an extension option for the joint venture.
Bigger — and strategically located — continues to be better in the Baltimore metropolitan region when it comes to the industrial real estate product sector. Blink your eye these days in Charm City, and you might miss the latest 100,000- to 500,000-square-foot transaction that transpired, fueled by the seemingly insatiable appetite among retailers to warehouse consumer products near large population areas and maintain same-day or next-day delivery models. Companies involved with the production and distribution of food products and home goods are the next most prolific users of warehouse and industrial space. The avalanche of large-scale logistics-related leases first started in 2014 when Amazon.com leased a 1 million-square-foot fulfillment center with Duke Realty in Baltimore City. Recent notable activity includes RPM Warehouse (435,000 square feet at Baltimore Crossroads in White Marsh); Pier 1 Imports (644,000 square feet in Harford County); Ikea (300,000 square feet with Federal Capital Partners in Halethorpe); Canusa Corp. Fiber Group (320,000 square feet in Dundalk); Sephora Americas (320,000 square feet of renewal space in Harford County, plus an additional 620,000 feet of new space); FedEx Ground (300,000 square feet at TradePoint Atlantic); US Lumber (260,000 square feet with MCB Real Estate and One Liberty Properties); Capital …
ORLANDO, FLA. — Creative Village Development LLC (CVD) has selected JLL to oversee the marketing of select sites available for sale at Creative Village, a $1 billion, 68-acre master-planned development in downtown Orlando. The Creative Village project is a public-private partnership between the city of Orlando and CVD, the project’s master developer. CVD is a joint venture between a local entity led by Ustler Development Inc. and Bank of America Community Development Corp. (BACDC). JLL will market select parcels of Creative Village in multiple phases, with Phase I comprising three parcels. The three parcels are programmed for at least 250 multifamily residences, an office building of at least 120,000 square feet and commercial, multifamily or hotel space spanning at least several hundred thousand square feet. Aaron Gray and Bret Felberg of JLL are leading the marketing efforts. Creative Village will transform the former Amway Arena into a mixed-use, transit-oriented development comprising University of Central Florida’s downtown campus, which is set to open in August 2019; office space; a $90 million, 600-bed student housing community developed by Ustler and KUD International LLC; a $62.5 million, 250-unit multifamily community developed by Ustler and a joint venture partner; and a 116-unit, $29 million …
JACKSONVILLE, FLA. — IKEA plans to break ground in November on its fifth Florida location in Jacksonville. Set to open in the fall of 2017, the new 290,000-square-foot IKEA store will join existing Florida locations in Orlando, Tampa, Sunrise and Sweetwater. IKEA Jacksonville will be situated on a 25-acre site along the northwestern corner of I-295 and Gate Parkway, roughly 10 miles southeast of downtown Jacksonville. The project team includes Lakeland, Fla.-based Marcobay Construction Inc.; CBRE; Driver McAfee, Peek & Hawthorne; Prosser Inc.; Bushra Tsai Inc.; RPM Engineers Inc.; Universal Engineering Sciences; Environmental Services Inc.; Gemini Engineering; and Ware Malcomb. IKEA Jacksonville is expected to create 500 construction jobs and 250 permanent jobs.
ATLANTA — Atlanta United, the new MLS franchise in Atlanta, has teamed up with Soccer in the Streets and MARTA to develop a soccer field within MARTA’s Five Points Station in downtown Atlanta. Dubbed Station Soccer-Five Points MARTA Station, the project will be the world’s first soccer field to be located within a major urban transit station. Soccer in the Streets will lead the programming efforts for the new project, including mentoring programs, promoting employability among young people and creating adult soccer leagues. The project will be funded through a grant by Atlanta United. Station Soccer-Five Points MARTA Station will feature turf and lighting infrastructure provided by GreenFields USA, Musco/Cree Lighting and the U.S. Soccer Foundation. The timeline for the project’s construction and opening were undisclosed.
HEBRON, KY. — Dermody Properties has started construction on LogistiCenter at 275 #2, a 264,000-square-foot industrial facility located at 3521 Point Pleasant Road in Hebron, a suburb of Cincinnati in northern Kentucky. Situated near Cincinnati/Northern Kentucky International Airport, the new e-commerce compliant facility will feature 32-foot clear heights, 27 dock doors, 228 parking spaces and 70 trailer stalls. Hillwood is Dermody’s financial partner on the project, and both companies leased the site for LogistiCenter at 275 #2 from the Cincinnati/Northern Kentucky International Airport. Last year, Dermody and Hillwood delivered the nearby LogistiCenter at 275, a nearly 900,000-square-foot fulfillment center for Wayfair Inc. United Construction Co. is the general contractor for the project, and Jeffrey Bender and David Kelly of Cushman & Wakefield will handle the leasing assignment.
TALLAHASSEE, FLA. — Lowe Enterprises Investors (LEI), in a joint venture with a foreign investment client, has acquired St. Augustine Plantation, a 100-unit assisted living and memory care community in Tallahassee. The seller was Capital Health Group LLC. Although a purchase price was not disclosed, Berkadia’s Senior Housing and Healthcare Group arranged $23.8 million in financing for LEI in connection with the transaction. St. Augustine Plantation includes 75 assisted living units built in 1998, as well as a 25-unit memory care building that was added in 2012. The community was 97 percent occupied at the time of sale. The new owners plan to improve common areas, add 24 more memory care beds and build a wellness center for recreation and rehabilitation, which Florida State University will manage. The acquisition is part of LEI’s continued push into the Southeast. Other recent acquisitions by the Los Angeles-based investment firm include a Hampton Inn in Jacksonville, an apartment community in North Carolina and a portfolio of three Hilton Garden Inns in Georgia. John Gaghan led the LEI investment team in the transaction. Kenneth Assiran and HFF led the seller’s team. Berkadia’s Senior Housing and Healthcare Group, led by Christopher Honn, Jeff Heath and …
DAWSONVILLE, GA. — Halpern Enterprises has opened the 45,600-square-foot Publix at Dawson Crossroads, a 98,400-square-foot shopping center located at the southeast corner of GA 400 and Dawson Forest Road in Dawsonville. The property is situated across the street from the North Georgia Premium Outlets and a Walmart Supercenter. Dawson Crossroads’ tenant roster includes PetSmart, Brooklyn Joe’s Pizzeria, Lee Nails, Great Clips, Totally Running and Top Cleaners. The property will also feature outparcel retailers such as Chili’s Bar & Grill, AT&T and Aspen Dental.