SMYRNA, TENN. — Carolina Holdings Inc. has closed on a 10-acre site along Sam Ridley Parkway in Smyrna between Academy Sports + Outdoors and Lowe’s Home Improvement. Three retailers — Hobby Lobby, TJ Maxx and Five Below — will occupy the site. The development team for the retail development includes Nashville-based civil engineer Ragan Smith, Nashville-based general contractor Crain Construction and Greenville, S.C.-based architect COR3 Design. United Community Bank provided construction financing for the project. Hobby Lobby is expected to open in the spring, and TJ Maxx and Five Below to open shortly thereafter.
JACKSONVILLE, FLA. — Berkadia has arranged the $17.6 million sale of Viera at Mandarin, a 188-unit apartment community located at 4263 Losco Road in Jacksonville. Built in 1984, the property features one- and two-bedroom units averaging 833 square feet. Unit interiors feature granite countertops, in-unit washer and dryers and private patios or balconies, as well as wood-burning fireplaces and vaulted ceilings in select units. Community amenities include an indoor athletic center, swimming pool and a 21-acre lake with fountains, a deck and boat storage. Greg Rainey, Cole Whitaker, Tal Frydman and Jason Stanton of Berkadia brokered the sale between the buyer, North Kansas City, Mo.-based Maxus Realty Trust Inc., and the seller, Nashville, Tenn.-based Woodbridge Multifamily Partners LLC.
CHARLOTTE, N.C. — Portman Holdings has signed Regions Bank to a 63,806-square-foot office lease at 615 South College, a speculative 370,000-square-foot office building under construction in Uptown Charlotte. Regions Bank is the first tenant to sign on at the 19-story office building, which is expected to open in early 2017. The building is positioned at Uptown Charlotte’s first light rail stop at Stonewall Station. Travis Garland of Portman Holdings, along with John Ball and Peter Conway of Trinity Partners, represented the ownership in the lease transaction. Sim Wilson, Mike Fahey and Mark Decherd of CBRE represented Regions Bank in the lease deal.
ATLANTA — NCR Corp., a global finance technology firm, plans to expand its new world headquarters campus currently under construction in Midtown Atlanta. The $145 million expansion will add a 14-story tower, which will be connected to a 20-story office tower that is set to open in the first quarter of 2018. The second tower is scheduled to be ready for occupancy in the first quarter of 2019. Currently headquartered in Duluth, Ga., NCR will bring more than 1,800 employees to the headquarters campus, which will feature amenities such as eateries with outdoor seating, a coffee bar, gym, informal gathering places and a large lecture space. NCR and Cousins Properties entered into a long-term, build-to-suit lease for the second tower, which will be owned and developed by Cousins, as is the first tower. NCR, the Georgia Department of Economic Development and Invest Atlanta have agreed on additional incentives for the new tower.
CHARLOTTE, N.C. — Charlotte-based developers Childress Klein and Crosland Southeast have begun construction on The Hub, a six-story, 154,000-square-foot office building within the Waverly in south Charlotte. Designed by RJT+R, the building will feature exposed ceilings; modern lobbies and restrooms; a four-level, 840-space parking garage; and flexible floor plans. The Waverly is a 90-acre mixed-use development located at the intersection of Providence and Ardrey Kell roads. General contractor Shelco LLC expects to deliver The Hub in May 2017. Childress Klein and Crosland Southeast are co-developing the office building, the first of two within Waverly, in partnership with the Matthews family.
WARNER ROBINS, GA. — Eastern Union Funding has arranged a $30.3 million acquisition loan for the purchase of Amber Place, a 392-unit multifamily apartment building located at 6080 Lakeview Road in Warner Robins. Built in 2007, Amber Place comprises one- to three-bedroom rental apartments averaging 1,215 square feet. Community amenities include a clubhouse, movie theater, sauna, two pools and detached garages. The borrower is CiTYR Group, an Israeli-based property investor with offices in London and New Jersey. Michael Muller and Mike Orlik of Eastern Union placed the 12-year, fixed-rate loan through Arbor Commercial Mortgage. The loan features three years of interest-only payments, followed by a 30-year amortization schedule.
RICHMOND, VA. — Phillips Realty Capital has secured a $24 million loan for 8th & Main Apartments, an adaptive reuse apartment community located in downtown Richmond. The property features 195 loft residences with one-, two- and four-bedroom layouts; nearly 10,000 square feet of ground-floor commercial space, the majority of which has been leased to Apple REIT; a rooftop swimming pool and terrace; and a fitness center. Charles DuBose structured the loan on behalf of the borrower, The Monument Cos. Monument converted the former Morris Plan Bank and office building into a Class A apartment community using Historic Rehabilitation Tax Credits.
MARIETTA, GA. — Avison Young has arranged a nearly 62,000-square-foot lease for office space at 1600 Terrell Mill Road in Marietta, a northwest suburb of Atlanta. The tenant, First Data Corp., is a publicly traded finance technology firm. First Data signed the seven-year lease agreement with the undisclosed owner. Ben Parker, Rick Nash and Jillian Woodliff of Avison Young’s Atlanta office represented the owner in the lease transaction.
ORLANDO AND TAMPA, FLA. — The PRISA Group and Peachtree Hotel Group have partnered to develop three hotels in Florida, including a dual-branded hotel development in Orlando and a new hotel in Tampa’s Westshore district. The properties include the dual-brand SpringHill Suites by Marriott Orlando/Mall at Millenia and Residence Inn by Marriot Orlando/ Mall at Millenia and the 175-room AC Hotel by Marriott Tampa/Airport – Westshore. The dual-branded project will feature 120 SpringHill Suites rooms, 134 Residence Inn rooms, a resort-style pool with a bar, game area with large board games and a lounge with water and fire features. Other amenities will include complimentary breakfast, a 24-hour market, lobby bar, complimentary Wi-Fi, fitness center and two meeting rooms totaling 1,600 square feet. Amenities at the AC Hotel in Tampa include a market, two media salons, business/social events room, 900-square-foot fitness center, pool and pool bar, complimentary Wi-Fi and 2,300 square feet of meeting space. The properties are currently under construction with a planned opening date of December 2017. Marriott Corp. will manage the three hotels. The construction is being conducted by a partnership between PRISA Group and Orlando-based Welbro Building Corp. Miami-based Popular Community Bank provided construction financing for the …
GAINESVILLE, FLA. — Landmark Properties has unveiled The Standard at Gainesville, a 1,200-bed, mixed-use student housing community located near the University of Florida campus in Gainesville. The development will be connected to an AC by Marriott Hotel, and will be occupied by retailers including Target, Chick-fil-A and Bento Café. The 430-unit development will offer 22 different floor plans, ranging from studios to six-bedroom options, including two-story penthouse townhomes. Each unit will be wired for high-speed internet and cable, and will include a flat screen TV, gourmet kitchens with stainless steel appliances and granite countertops and a full-size washer and dryer. Community amenities will include rooftop pools and cabanas, a fitness center, racquetball court, golf simulator, computer labs, 24-hour study lounges and an internet café. Premium VIP units will also feature billiards tables and exclusive access to a private rooftop lounge and a second rooftop pool. The development is scheduled for completion in fall 2017. Pre-leasing for the property will begin this Thursday.