Southeast

IRC Retail Centers Acquires Phase II of Goldenrod Marketplace in Orlando for $6M

by John Nelson August 10, 2016

ORLANDO, FLA. — IRC Retail Centers has purchased Phase II of Goldenrod Marketplace, a community shopping center located at the intersection of Narcoossee and Goldenrod roads in Orlando, for $6 million in cash. Goldenrod Marketplace Phase II comprises approximately 33,140 square feet of in-line retail space that is nearly fully leased to Dollar Tree, Great Clips, Lucky Me, Payless Shoes, Rue 21 and Sally Beauty. IRC Retail Centers previously acquired the 97,500-square-foot Phase I of Goldenrod Marketplace in December 2013.

August 10, 2016

adidas-speedfactory-atlanta-cherokee-county

Georgia Industrial Southeast Top Stories

Adidas to Open Shoe Factory in Metro Atlanta, Move Production from Asia

by Haisten Willis August 10, 2016

ATLANTA — German sportswear brand Adidas has announced plans to open a new footwear production site in the Atlanta area in 2017, eventually bringing part of the company’s manufacturing from Asia to the United States. The facility, which will be known as adidas Speedfactory, is designed to allow the company to create products more quickly and closer to U.S. consumers using a highly automated process. The 74,000-square-foot facility will be located in Cherokee County, a suburban area roughly 30 miles northwest of Atlanta. It is scheduled to open in the second half of 2017 and will produce 50,000 pairs of shoes a year while employing 160. The U.S. factory will complement another Speedfactory facility operating in Germany. Adidas’ strategic partner Oechsler will operate both the U.S. and German facilities. Adidas is headquartered in a small town in Bavaria. The company is publicly traded on the Frankfurt Stock Exchange under the symbol ADS. Its parent company, Adidas Group, includes several other sports-goods brands such as Reebok and TaylorMade. — Haisten Willis

August 10, 2016

Florida Hospitality Southeast

Hilton Worldwide, Baptist Health South Florida Partner for New Hotel in Miami

by John Nelson August 9, 2016

MIAMI — Hilton Worldwide and Baptist Health South Florida have signed a franchise license agreement to open Hilton Miami/Dadeland, a 184-room hotel located on the Baptist Hospital campus in Miami. Interstate Hotels and Resorts will operate the hotel, which is slated to open at 9100 N. Kendall Drive in late 2018. CallisonRTKL Inc. designed the hotel, which will feature Cuban tile and pineapple-themed wall art and textiles, which complements the motifs of the Baptist Hospital campus. The hotel will feature a 6,200-square-foot ballroom, 2,000 square feet of meeting space, 24/7 business center and a health and wellness center with a fitness room and heated outdoor pool.

August 9, 2016

Loans North Carolina Office Southeast

Grandbridge Closes $45.5M Loan for Office Portfolio in Charlotte

by John Nelson August 9, 2016

CHARLOTTE, N.C. — Grandbridge Real Estate Capital has closed a $45.5 million loan secured by a five-property, 246,000-square-foot office portfolio in Charlotte. Chris Caison of Grandbridge’s Charlotte office arranged the fixed-rate loan through an unnamed life insurance company on behalf of the borrower, Charlotte-based Beacon Partners, which leases and manages more than 9 million square feet of office and industrial space in North and South Carolina.

August 9, 2016

Healthcare Loans North Carolina Southeast

Capital One Healthcare Provides $37.8M Loan for Medical Portfolio in Triangle Region

by John Nelson August 9, 2016

BETHESDA, MD. — Capital One Healthcare has provided a $37.8 million loan to CNL Healthcare Properties for a five-property healthcare real estate portfolio in the Triangle region of North Carolina. The portfolio comprises the North Carolina Specialty Hospital in Durham and four medical office buildings in Roxboro, Oxford and Chapel Hill. CNL Healthcare Properties, a non-traded seniors housing and healthcare REIT, is using the loan to refinance the portfolio, which it purchased in June 2015.

August 9, 2016

Maryland Retail Southeast

Greysteel Brokers $28.6M Sale of Grocery-Anchored Shopping Center in Baltimore

by John Nelson August 9, 2016

BALTIMORE — Greysteel has arranged the $28.6 million sale of Catonsville Plaza, a nearly 280,000-square-foot grocery-anchored shopping center located at 5457 Baltimore National Pike in Baltimore. The property was 99 percent leased at the time of sale to tenants such as Shoppers Food Warehouse, Dollar General, Planet Fitness, Planet Aid, Merchant’s Tire & Auto Centers, Forman Mills, Salontra Suites, DaVita Dialysis, Dunkin’ Donuts, Subway and Metro PCS. Gil Neuman led Greysteel’s retail team in representing the seller, an affiliate of Hutensky Capital Partners, and procuring the buyer, Mosaic Realty Partners.

August 9, 2016

Georgia Mixed-Use Southeast

Coro Realty Advisors Sells Village Place Brookhaven

by John Nelson August 9, 2016

BROOKHAVEN, GA. — Atlanta-based Coro Realty Advisors LLC has sold Village Place Brookhaven, a mixed-use development located on Dresden Drive in Brookhaven. The fully occupied property features nearly 35,000 square feet of ground-level retail space with luxury residential and office condominiums above. Tenants include restaurants Kaleidoscope and Verde. Chris Decoufle and Kevin Reavey of CBRE represented Coro Realty in the sale. Westwood Financial purchased Village Place Brookhaven from Coro Realty for an undisclosed price.

August 9, 2016

Florida Retail Southeast

Walmart Supercenter Opens at Butler North Shopping Center in Gainesville

by John Nelson August 8, 2016

GAINESVILLE, FLA. — Wal-Mart Stores Inc. has relocated its Walmart Supercenter store from Butler Plaza to Butler North, a power shopping center that Butler Enterprises is developing along Clark Butler Boulevard in Gainesville. The new Walmart Supercenter is one of several retailers opening at Butler North this month. Butler North is currently 92 percent leased to tenants such as Sam’s Club, Dick’s Sporting Goods, Five Below, Lowes Home Improvement, Marshalls, Orangetheory Fitness and Longhorn Steakhouse. Butler Enterprises is also underway on Butler Town Center, an adjacent 350,000-square-foot pedestrian-oriented mixed-use project along Archer Road and I-75. Upon completion in 2018, the entire Butler development will span nearly 2 million square feet on 267 acres.

August 8, 2016

Florida Multifamily Southeast

Melo Real Estate Arranges $22M Sale of Apartment Complex in Broward County

by John Nelson August 8, 2016

TAMARAC, FLA. — Miami-based Melo Real Estate has brokered the $22 million sale of Jasmine at Tamarac, a residential community comprising 222 apartment residences and 69 privately owned condominiums in Tamarac, a city in South Florida’s Broward County. Only the rental apartments were included in the transaction. JAT Owner LLC purchased the rental residences from Elandis for $99,099 per unit. Elandis previously purchased the rental units in December 2012 for $15 million. Built in 1987, Jasmine at Tamarac underwent a condominium conversion program in 2006. Ronald Meyerson of Melo Real Estate and Tyler Minix of Avison Young brokered the transaction.

August 8, 2016

Office South Carolina Southeast

Colliers Brokers $10.6M Sale of Office Building in North Charleston

by John Nelson August 8, 2016

NORTH CHARLESTON, S.C. — Colliers International has brokered the $10.6 million sale of a 41,000-square-foot office building located at 4969 Centre Pointe Drive in North Charleston. The Class A office building is situated within the Centre Pointe mixed-use development. Mark Mattison of Colliers International’s Charleston office represented the buyer, Doublz Investments LLC, an entity wholly owned by Tony Romeo, who owns roughly 100,000 square feet of Class A office space in the metro Charleston area. Doublz Investments purchased the asset from Oaks at Centre Point LLC and has retained Colliers to manage and lease the property.

August 8, 2016

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