Southeast

Coro Realty Finalizes $47M Purchase of Retail, Parking Portfolio in Midtown Atlanta

by John Nelson May 1, 2017

ATLANTA — Atlanta-based Coro Realty Advisors has purchased The Shops at Spire, the final component of a portfolio in Midtown Atlanta comprising 87,905 square feet of ground-floor retail and over 600 parking spaces in five residential condominium buildings. Coro purchased the portfolio from The Loudermilk Cos., an Atlanta-based commercial real estate developer and owner. The purchase price was not disclosed, but the Atlanta Business Chronicle reports the portfolio traded for $47 million. The properties include retail space at 800 Peachtree, 805 Peachtree, Shops at Seventh, Shops at Spire and Shops at Viewpoint, as well as a nearby parking lot on Juniper Street. Tenants at these properties include Starbucks, BB&T, Einstein Brothers Bagels, Fresh 2 Order, World of Beer, Sprint and Atlanta’s first urban QuikTrip. When added to Coro Realty’s Gordon Biersch at 848 Peachtree St., the portfolio gives Coro Realty control over almost all of the public parking and retail on Peachtree Street between 5th and 7th streets. Kenny Holzer and Elliot Kyle of Skyline Seven brokered the sale of The Shops at Spire.

May 1, 2017

Maryland Multifamily Southeast

Continental Realty Launches $12M Renovation of Apartment Community in Baltimore County

by John Nelson May 1, 2017

PARKVILLE, MD. — Continental Realty Corp. has launched a $12 million improvement campaign for the interiors and exteriors at Kenilworth at Perring Park, a 567-unit apartment community located at 8951 Waltham Woods Road in Parkville, a city within Baltimore County. The renovations include the addition of a 1,573-square-foot community clubhouse that is expected to open in June. The clubhouse will feature a fitness center, sound system, open kitchen and vaulted ceilings. The swimming pool will also get a makeover with the addition of a splash pad, new pool deck and furniture. Continental Realty’s five-year interior upgrade campaign will include stainless steel appliances, granite countertops and an open kitchen concept. Continental Realty has selected Mullan Contracting Co. to handle general contracting services.

May 1, 2017

Florida Industrial Southeast

Cushman & Wakefield Brokers $7.5M Sale of Warehouse in Miami

by John Nelson May 1, 2017

MIAMI — Cushman & Wakefield has arranged the $7.5 million sale of the Econocaribe Building, a 164,432-square-foot warehouse distribution facility located at 2401 N.W. 69th St. in Miami. ECU Worldwide, an international transportation company formerly known as Econocaribe Consolidators, fully leases the cross-dock facility. RLF Acquisitions LLC purchased the property from the sellers, Econo1 LLC, Joseph P. Luchese Jr. and Michelle Gersten. The fenced facility comprises a one-story warehouse and two-story office and features 27 dock-high loading positions that can accommodate up to 40 trucks, a receiving ramp that can accommodate an additional 13 trucks and 22-foot clear heights. The site also includes 180 total parking spaces.

May 1, 2017

Florida Industrial Southeast

NAI Miami Arranges $4.4M Sale of Office Building in Coral Gables

by John Nelson May 1, 2017

CORAL GABLES, FLA. — NAI Miami has brokered the $4.4 million sale of the SAAM Building, a 24,039-square-foot office building located at 3195 Ponce De Leon Blvd. in Coral Gables. 3195 Ponce LLC purchased the asset from SAAM Building Inc. Tom Smith of NAI Miami represented the seller in the transaction.

May 1, 2017

Florida Southeast Student Housing

FourPoint Negotiates Sale of Student Housing Community Near the University of West Florida

by John Nelson May 1, 2017

PENSACOLA, FLA. — FourPoint Student Housing Investments has arranged the sale of College Vue, a 408-bed student housing community located near the University of West Florida in Pensacola. The property offers fully furnished two- and four-bedroom units. Community amenities include a modern clubhouse, fitness center and lap-style pool. Chris Epp, Chris Bancroft and Meredith Wolff of FourPoint led the sales effort on behalf of the seller, Next Chapter Development. A private buyer purchased College Vue for an undisclosed amount.

May 1, 2017

Florida Office Southeast

Rockpoint Group Purchases Brickell Office Tower for $155M

by John Nelson April 28, 2017

MIAMI — Boston-based Rockpoint Group has purchased 1221 Brickell, a 408,423-square-foot office building located at Brickell Avenue and Coral Way in Miami’s Brickell Financial District. The sales price was undisclosed, but the South Florida Business Journal reports that the property traded for $155 million. The 26-story tower’s tenant roster includes Lydecker Diaz, Regus, Banco Do Brasil, Safra National Bank of New York and Clyde & Co. Tenant amenities include various restaurants, a conference facility, 24-hour security, dry cleaning services, a 5,000-square-foot daycare center, parking and a car wash facility. Hermen Rodriguez, Manny de Zarraga, Ike Ojala, Tracey Good and Christina Kong of HFF represented the seller, The Blackstone Group. HFF also brokered the sale of the office tower in 2006 on behalf of the previous owner, Equity Office Properties Trust, prior to Blackstone’s acquisition of the REIT later that year.

April 28, 2017

Florida Multifamily Southeast

IPA Arranges $68.2M Sale of Apartment Community in Broward County

by John Nelson April 28, 2017

CORAL SPRINGS, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $68.2 million sale of Forest Apartments, a 400-unit luxury multifamily community in Coral Springs. Built in 1989, the recently renovated property is surrounded by the 29-acre Sherwood Forest Park and features a lake with fountains, two resort-style swimming pools and a 24-hour fitness center. Steve Witten and Victor Nolletti of IPA, along with Evan Kristol of Marcus & Millichap, represented the seller, a Canadian limited partnership. The team also procured the buyer, a value-add institutional investor based in Manhattan.

April 28, 2017

Florida Industrial Southeast

Berger Commercial Realty Brokers $14.8M Sale of Industrial Park in Fort Lauderdale

by John Nelson April 28, 2017

FORT LAUDERDALE, FLA. — Berger Commercial Realty/CORFAC International has brokered the $14.8 million sale of East Port Center, a 108,500-square-foot industrial park located at 1881-1887 State Road 84 in Fort Lauderdale near Interstate 95. The property features 20-foot clear heights, parking, frontage on State Road 84, a glass façade on the storefront and rear dock-high loading. St. George Guardabassi and Judy Dolan of Berger Commercial represented the seller, EJP East Port LLC, in the transaction. The buyer, East Port Center LLC, has retained Berger Commercial to market East Port Center, which was fully leased at the time of sale.

April 28, 2017

Retail South Carolina Southeast

Shopping Center Group Arranges Leases in Metro Columbia for Fresh Market, Hobby Lobby, Ulta Beauty

by John Nelson April 28, 2017

LEXINGTON, S.C. — The Shopping Center Group, on behalf of developer Columbia Development, has signed three anchor leases at Lexington Marketplace, a 143,850-square-foot shopping center in Lexington. The Fresh Market, Hobby Lobby and Ulta Beauty have signed on at the shopping center, which will be situated at U.S. Highway 378 and Saluda Springs Road. This will be the second location in the metro Columbia area for The Fresh Market. Darrell Palasciano of The Shopping Center Group is seeking additional retail and restaurant tenants at the property, which is currently 70 preleased.

April 28, 2017

Georgia Retail Southeast

Stonis, Mayson to Lead SRS Investment Properties Group Out of Atlanta

by John Nelson April 28, 2017

ATLANTA — SRS Real Estate Partners has formalized leadership in the Southeast for its Investment Properties Group, which focuses on multi-tenant investment sales. Managing principal Kyle Stonis and principal Pierce Mayson out of Atlanta will lead the multi-tenant investment sale activity, recruiting and expansion efforts in the region. Since joining in 2011, Stonis and Mayson have established their group as one of the top investment sales teams in the Southeast. The duo has completed over $1 billion in sales transactions across 15 states since joining SRS. SRS’ Investment Properties Group and National Net Lease Group have recently welcomed two more investment sales experts with the addition of Rob Whitmire, as senior vice president in north and central Florida, and Giles Stevens, as vice president in Atlanta.

April 28, 2017

Newer Posts

Older Posts