RALEIGH, N.C. — Pollack Shores Real Estate Group plans to build two upscale multifamily developments in Raleigh. The projects include the 330-unit Dakota on Nowell Road and a 314-unit property located on the corner of Davis Drive and Hopson Road in Research Triangle Park. Community amenities at The Dakota will include a resort-style pool, courtyard with a bocce ball court, fitness center and a dog park. Community amenities at the Davis Drive property will feature a second-floor fitness center with yoga and spinning rooms, a clubroom with a kitchen and café, resort-style pool, courtyard and a community gaming and TV lounge. Pollack Shores is set to open the two properties in early 2017. Matrix Residential, the residential management division of Pollack Shores, will manage the two projects.
LOUISVILLE, KY. — Doster Construction has completed the $45.8 million construction of the 758-bed Clubhouse Student Apartments in Louisville adjacent to the University of Louisville campus. The project consists of three five-story wood frame buildings. The new complex has more than 400,000 square feet of living space. Amenities include two courtyards, a swimming pool, club room, fitness area, theater, computer/study room and a hammock garden. The project also includes a five-and-a-half level parking garage that accommodates more than 625 parking spaces. Buck Development Louisville LLC is the project’s developer.
ALABASTER, ALA. — Marcus & Millichap has brokered the $12.7 million sale of Whitestone Shopping Center, a 70,065-square-foot, Publix-anchored shopping center located at 9200 Highway 119 in Alabaster. Built in 2004, the shopping center was 97 percent leased at the time of sale to tenants such as ABC Liquor, Premier Cosmetic and Family Dentistry, Alabaster Eye Care, Jackson Hewitt, Subway and Palm Beach Tan. Also included in the sale was a 9,260-square-foot outparcel currently leased to Buddy’s Home Furnishings. The buyer, Publix Super Markets Inc., was represented internally. Andrew Chason and Brett Chetek of Marcus & Millichap’s St. Louis office represented the seller, a limited liability company based in Montgomery, Ala., in the transaction. Eddie Greenhalgh of Marcus & Millichap’s Mobile office is the firm’s broker of record in Alabama.
RICHMOND, VA. — Capital Square 1031 has purchased Perry Place Apartments, a 70-unit historic loft-style apartment community located in Richmond. Perry Place is a two-story property located at 815 Perry St. within Richmond’s Manchester Arts District. Units at Perry Place range from studios to three-bedroom apartments with views of the James River and downtown skyline. Community amenities include 24-hour controlled access, an outdoor swimming pool, community roof deck area, fitness center and on-site parking. Originally constructed in 1912 and recently renovated, Perry Place was fully occupied at the time of sale.
JACKSONVILLE, FLA. — Hines has acquired 105 acres of land located at the intersection of I-295 and J.T. Butler Boulevard in Jacksonville’s Southside submarket. The Houston-based developer and investor will build a master-planned project on the site that will feature residential, office and retail space, as well as a central lake and green space. Along with Hines, the project team includes architect RTKL Associates and engineer ETM. Hines currently has $87 billion of assets under management and 104 developments underway. The firm’s current property and asset management portfolio includes 531 properties, representing more than 186 million square feet.
CHARLOTTE, N.C. — TIER REIT, a Dallas-based REIT, has invested $20 million to renovate Bank of America Plaza, a 40-story, Class A office tower located at the intersection of Trade and Tryon streets in Charlotte. The 891,000-square-foot tower is 92 percent leased to tenants such as Bank of America, Alston & Bird, Shumaker Loop & Kendrick and SCOR Global Life Americas. The renovation includes expanding and renovating the main building lobby and adding close to 20,000 square feet of street-level retail space. The design team includes Charlotte-based architect Redline Design Group, project manager Tracy Haynie of Trinity Partners and general contractor Rodgers Builders. Rhea Greene of Trinity Partners handles leasing for the office tower, and Mike Lucier of CBRE handles leasing for the tower’s retail portion.
MABLETON AND CONYERS, GA. — BayView Advisors has arranged the $9.2 million sale of a two-property portfolio of Pak-It-Inn self storage facilities in the Atlanta suburbs of Mableton and Conyers. The portfolio includes 155 climate controlled units, 727 non-climate controlled units and one retail unit. Jay Crotty and Thomas Doyle of BayView Advisors represented the seller, Pak-It-Inn Self Storage Inc., and the buyer in the transaction.
CHARLOTTE, N.C. — Cushman & Wakefield has brokered the $7.4 million sale of the Accenture Credit Services Building, a 60,447-square-foot, single-tenant office building in Charlotte. The single-story office building is located at 8336 Forest Point Blvd. within the Forest Park mixed-use development. Rob Cochran and Jared Londry of Cushman & Wakefield’s Charlotte-based capital markets group represented the undisclosed seller in the transaction. The buyer was a private investor.
RALEIGH, N.C. — CBRE|Raleigh has arranged the $5.3 million sale of a 15,090-square-foot medical office building located at 1921 Falls Valley Drive in Raleigh. Glen Allen, Va.-based Capital Square Holdings purchased the owner-occupied building in a sale-leaseback transaction. Jim McMillan of CBRE|Raleigh represented the seller in the transaction.
MIAMI — Burger King will move its corporate headquarters to a new build-to-suit office project in Miami. The fast-food giant will be the sole occupant of a 150,000-square-foot, Class A office building located on a five-acre lot at 5707 Blue Lagoon Drive in Miami’s Airport West office submarket. The building will be situated within the Waterford at Blue Lagoon office park. The Hogan Group will develop the standalone office building to include panoramic views and several employee amenities. The five-story office building will also feature a parking deck for employee parking. The Tampa-based developer expects to wrap up construction by the third quarter of 2018. Patrick Duffy and Jon Bourbeau of Newmark Grubb Knight Frank represented Burger King in the build-to-suit lease deal. Duffy and Bourbeau negotiated lease terms with Stephen Smith of The Hogan Group.