DORAL, FLA. — Codina Partners has signed a lease with Publix Super Markets to anchor Downtown Doral, a live/work/play/learn development under construction in downtown Doral, a suburb of Miami. The Publix will be located on N.W. 53rd Terrace and serve as the development’s sole grocer. Downtown Doral will also feature 70 retail stores and restaurants, 400,000 square feet of office space, 2,840 residential units, a charter elementary school and public green spaces. Construction on the Publix is expected to begin in September 2016 with an expected December 2017 opening.
KISSIMMEE, FLA. — Marcus & Millichap has brokered the $26.2 million sale of Grande Court at Boggy Creek, a 394-unit apartment community located at 1401 Grande Blvd. in Kissimmee. The low income housing tax credit community features one-, two- and three-bedroom apartments with open kitchens, optional washer and dryer units, defined desk and computer areas, ceiling fans, walk-in closets and extra storage space. Community amenities include a clubhouse, swimming pool, wading pool, fitness center, business center, car care center, a playground and a barbecue and picnic area. Even Kristol of Marcus & Millichap’s Fort Lauderdale office and Still Hunter III of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Courtelis Development Co., and procured the buyer, Hercules Real Estate Service Inc.
CHARLOTTE, N.C. — Crosland Southeast and Childress Klein have signed Horizon Eye Care to an 8,300-square-foot lease at Waverly, a 90-acre master-planned development in Charlotte. The eye care provider will occupy space in a 22,000-square-foot medical office building located at 11835 Southmore Drive near the intersection of Providence Road and Providence Country Club Drive. The property will be located next to Novant Health’s urgent care and family healthcare practices. Construction began in February on new the medical office building. Travis Hart and Jenny Fowler of Childress Klein represented the ownership group in the lease transaction.
BALLSTON, VA. — The Shooshan Co. and Brandywine Realty Trust plan to build a 22-story mixed-use high-rise project for the final portion of their Liberty Center development at 4040 Wilson Blvd. in Ballston, roughly six miles west of Washington, D.C. The first two floors will house retail space (34,000 square feet), the next eight floors will comprise office space (190,000 square feet) and the top 12 floors will feature 245 residential units. Both the office and residential components will have separate roof terraces. VIDA Fitness has signed a letter of intent to occupy 30,000 square feet at the site between the second floor and the B1 level. Shooshan has already built out the five-level, below-grade parking garage at the site that features 550 car spaces. Liberty Center is a 2.3 million-square-foot, eight-property development within walking distance of the Ballston Metro. At full build-out the development is expected to house 5,000 people.
NASHVILLE, TENN. — Marcus & Millichap has brokered the $58 million sale of the 154-room Hampton Inn & Suites located at 310 4th Ave. S. in downtown Nashville. The hotel is situated across the street from the new Music City Center, two miles from Vanderbilt University and eight miles from the Nashville International Airport. Opened in 2007, the hotel features a breakfast buffet, wireless Internet access, fitness center, indoor pool and 2,500 square feet of meeting and event space. Georgia Krewson and Wes Tiner of Marcus & Millichap’s National Hospitality Group (NHG), along with Scott Franco, Zach Moore and Kelley Deibler of Marcus & Millichap’s Nashville office, represented the seller, MR Hotels LLC, in the transaction.
WINSTON-SALEM, N.C. — Signet Development, in partnership with Kelley Properties Inc., will begin construction on Deacon Place, a 328-bed student housing community adjacent to Wake Forest University in Winston-Salem. The property, located at the intersection of Long Road and University Drive near the north entrance to campus, will comprise 82 units. Construction is expected to begin in late spring, with completion expected for the fall 2017 school year.
ATLANTA — Dekel Capital, a Los Angeles-based real estate merchant bank, has arranged a $10.6 million loan for the acquisition and renovation of The Villas on Briarcliff, an 82-unit apartment community located in Atlanta’s North Druid Hills neighborhood. The property features a resort-style pool, 24-hour fitness center and detached garages. Dekel Capital arranged the 18-month, interest-only, floating-rate loan through Berkadia Commercial Mortgage.
BRIDGEPORT, W.VA. — Pittsburgh-based Civil & Environmental Consultants Inc. (CEC) has moved its Bridgeport office to Charles Pointe, a $1.5 billion, 1,700-acre mixed-use community within West Virginia’s I-79 High Technology Corridor. The environmental firm has leased 18,600 square feet of office space at 600 Marketplace Ave. for its 65 Bridgeport employees. CEC provides civil, ecological, environmental and survey services, as well as wastewater collection, transmission and treatment solutions to the mining, oil and gas and real estate industries, as well as to the public sector.
ATLANTA — Too often hoteliers are so immersed in executing their business plans they miss golden opportunities that suddenly arise, according to hotel experts speaking at the 28th annual Hunter Hotel Conference. During the “State of the Industry” panel, executives from Blackstone, Starwood Capital Group, Rockbridge, MCR Development LLC and Apple Hospitality REIT took the stage to discuss opportunities they see in the marketplace. Tyler Morse, CEO and managing partner of MCR Development, said the lodging industry in the United States will present ample opportunities in the next couple years. “The hotel space in particular in the U.S. economy is going to be great in 2016 and 2017. The rest of the world is kind of a disaster,” said Morse. “Funds are coming to the U.S. as a flight to quality. The U.S. is where the growth is, and the hotel business is a beneficiary of that.” In a real-world example of being opportunistic, Brian Kim, managing director of real estate at Blackstone, spoke about how the firm’s recent $6.5 billion sale of Strategic Hotels & Resorts to Beijing-based Anbang Insurance Group Inc. wasn’t the original strategy for Blackstone. Having just closed on the Strategic purchase in December 2015, Blackstone’s …
SUNRISE, FLA. — KGH International Development has begun construction on the residential portion of Metropica, a transit-oriented mixed-use development in Sunrise that will span 65 acres and 4 million square feet upon full build-out. The project will feature 400,000 square feet of dining, retail and entertainment space, as well as 650,000 square feet of office space, 2,250 residential units and a 240-room hotel. Tenants already announced for the ground-level retail spaces include Ipic Theaters, Kings Bowl, True Food Kitchen, Kona Grill, Oil & Vinegar, Fogo de Chão, Shake Shack, Anthropologie, Free People and Kendra Scott. More announcements will be made in coming weeks and months prior to the project’s fall 2017 opening. In addition to the commercial and multifamily components, the project will also feature walking and bike trails, courtyards, a central park, 3,600-space parking garage, electric vehicle charging stations, kiosks and Wi-Fi connectivity throughout the development. KGH International Development expects to begin vertical construction on Metropica’s retail portion this summer. The design team for Metropica includes Baltimore-based master planner CI Design and architect Oppenheim Architecture & Design.