Southeast

Pellerin Real Estate Names $20M Revitalization Project in Grant Park The Beacon Atlanta

by John Nelson April 12, 2016

ATLANTA — Atlanta-based Pellerin Real Estate has announced the name of its $20 million, 110,000-square-foot redevelopment project in Atlanta’s Grant Park neighborhood — The Beacon Atlanta. The project is a revitalization of six warehouses at 1039 Grant St. along the Atlanta BeltLine’s Southside Trail within blocks of Zoo Atlanta. Upon completion, The Beacon Atlanta will feature retail space, a fitness studio, wellness center, beauty salon, food market, loft office space and food and beverage production facilities. Construction is set to begin in late 2016, with a planned opening in the late summer of 2017.

April 12, 2016

Arkansas Loans Multifamily Southeast

Grandbridge Provides $12.2M Acquisition Loan for Apartment Complex in Arkansas

by John Nelson April 12, 2016

FAYETTEVILLE, ARK. — Grandbridge Real Estate Capital has provided a $12.2 million acquisition loan for Garden Park Apartments, a 246-unit apartment community in Fayetteville. Alan Tapie of Grandbridge originated the 10-year, non-recourse loan with a 30-year amortization schedule through Freddie Mac’s CME program. The loan was structured with an interest rate fixed below 4 percent and featured an interest-only period, according to Tapie. The non-student housing property is primarily occupied by University of Arkansas students and features a business center, swimming pool with sundeck, hot tub, fitness studio and a basketball court.

April 12, 2016

Georgia Office Southeast

Avison Young Arranges 91,000 SF Office Lease in Metro Atlanta for Tech Firm

by John Nelson April 12, 2016

LAWRENCEVILLE, GA. — Avison Young’s Atlanta office has arranged a 91,000-square-foot office lease at 1715 N. Brown Road in Lawrenceville, a northeast suburb of Atlanta in Gwinnett County. Sage Software, an accounting and business management software firm, will lease the space for five years. Chet Koenig of Avison Young represented the landlord, Clarion Partners, in the lease transaction.

April 12, 2016

Florida Retail Southeast

JK2 Construction Delivers Hello Kitty, Betty Boop Retail Experience at Universal Studios in Orlando

by John Nelson April 12, 2016

ORLANDO, FLA. — JK2 Construction has wrapped up construction on the Hello Kitty and Betty Boop interactive retail experience at Universal Studios in Orlando. The project features 3,000 square feet of space dedicated to merchandise and interactive stations for Hello Kitty, the famous Japanese cartoon cat, and about 1,000 square feet for the iconic Betty Boop cartoon. The space was originally the home of an attraction centered on memorabilia from the TV show “I Love Lucy.” JK2 Construction, which also built the Universal Studios archway entrance, said the project costs exceeded $1.5 million and included changes to the building’s interior and exterior.

April 12, 2016

Industrial Maryland Southeast

Prospective Medical Cannabis Grower Buys Industrial Facility in Maryland for $1M

by John Nelson April 12, 2016

HEBRON, MD. — CannaMed Pharmaceuticals LLC, a prospective licensee for one of only 15 medical cannabis growing licenses to be issued in Maryland, has purchased an industrial facility in Hebron. The 47,226-square-foot property is located at 27120 Ocean Gateway and was previously leased to Matech. John McClellan of SVN | Miller Commercial Real Estate brokered the transaction. The state of Maryland is expected to issue CannaMed’s license this summer. The business plans to use 35,000 square feet of the property to house its growing facility and the remaining square footage for research and development of medical cannabis.

April 12, 2016

7748 Palmetto Commerce Parkway North Charleston

Industrial South Carolina Southeast

Lineage Logistics Opens 180,000 SF Cold Storage Distribution Center in North Charleston

by John Nelson April 11, 2016

NORTH CHARLESTON, S.C. — Lineage Logistics LLC, a warehousing and logistics company backed by investment firm Bay Grove, has opened its 180,000-square-foot cold storage distribution center in North Charleston. The property is located at 7748 Palmetto Commerce Parkway within Palmetto Commerce Park. Lineage Logistics worked with the South Carolina Ports Authority to facilitate the new property. Norfolk Southern provides rail service to the facility, which features 30 truck doors, four rail doors and parking for 100 cars.

April 11, 2016

Georgia Restaurant Retail Southeast

FCA Partners Announces New Tenants Joining The Exchange in Buckhead

by John Nelson April 11, 2016

ATLANTA — Charlotte-based FCA Partners has announced three new tenants joining The Exchange, a 44,500-square-foot retail center in Atlanta’s Buckhead district. The new tenants joining the previously announced Storico Fresco Pasta and YEAH! Burger include SculptHouse, Kohler Signature Showroom and Kale Me Crazy. SculptHouse, a boutique fitness destination, will occupy 3,600 square feet; Kohler Signature Showroom, a home furnishing store, will occupy 7,100 square feet at the “elbow” of the property along the connecting paseo; and Kale Me Crazy will occupy 1,300 square feet for its newest superfood café. The project is a redevelopment of the former Buckhead Exchange. FCA Partners expects for construction on the redevelopment to wrap up this month. Stephanie McCall of The Shopping Center Group is The Exchange’s exclusive leasing agent.

April 11, 2016

Florida Restaurant Retail Southeast

Stiles Realty Signs Starbucks, Chipotle to Leases at Retail Center in Cape Coral

by John Nelson April 11, 2016

CAPE CORAL, FLA. — Stiles Realty has signed Starbucks Coffee and Chipotle Mexican Grill to lease outparcel space at Coralwood Center, a 349,205-square-foot retail center located at 2301 S. Del Prado Blvd. in Cape Coral. The two tenants will open at the 6,038-square-foot outparcel this fall. The retail center is currently 73 percent leased to tenants such as Ulta Beauty, LA Fitness, Bealls Outlet, JC Penney, Lenny’s Sub Shop and the newly opened HomeGoods. Jill Gull of Stiles Realty represented the landlord, Siles and GRE Coralwood LP, in the two lease transactions. Michael Daly of LandQwest Commercial represented Starbucks, and Michael Weiss of SRS Real Estate Partners represented Chipotle.

April 11, 2016

Georgia Loans Multifamily Southeast

Walker & Dunlop Closes $19.9M Acquisition Loan for Apartment Community in Central Georgia

by John Nelson April 11, 2016

KATHLEEN, GA. — Walker & Dunlop has closed a $19.9 million acquisition loan for Houston Lake, a 300-unit, Class A apartment complex in Kathleen, roughly 20 miles south of Macon. Dustin Swartz of Walker & Dunlop’s Bethesda, Md., office led the team that structured the 10-year, fixed-rate loan through Freddie Mac’s CME program on behalf of the borrower, Denver-based Miller Frishman Group. The loan features three years of interest-only payments. Approximately 35 percent of the community’s residents are active and civilian military employees at nearby Robins Air Force Base, which is located about 14 miles southwest of Houston Lake. Built in 2008, the property features gated access, walking trails, poolside grills, a clubhouse, fitness center, playground, basketball court and a tennis court.

April 11, 2016

Florida Multifamily Southeast

JV Acquires Apartment Community in Gainesville for $8.8M

by John Nelson April 11, 2016

GAINESVILLE, FLA. — LIV Holdings LLC, a joint venture between James Street Capital LLC and Warren Family Holdings I LLC, has purchased a 208-unit garden-style apartment complex in Gainesville for $8.8 million. The property was built in 1981 on nine acres at 1902 S.W. 42nd Way, roughly one mile from the University of Florida campus. The new ownership has teamed up with Gainesville-based management company AMJ Inc. to operate the property, and the joint venture will invest capital to improve community interiors, exteriors and common areas. Darron Kattan, Kevin Kelleher, Zach Ames and Robert Goldfinger of Franklin Street Real Estate Services’ Tampa office represented both the buyer and seller in the transaction.

April 11, 2016

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