Southeast

Kroger on Atlanta BeltLine to be Part of New Mixed-Use Development

by John Nelson January 19, 2016

ATLANTA — Kroger’s Atlanta Division and New City LLC plan to transform an existing Kroger store on Ponce de Leon Avenue in Atlanta as part of a mixed-use development along the Atlanta BeltLine. The new development, known as 725 Ponce, will include a new 60,000 square-foot Kroger below 360,000 square feet of Class A loft office space. The office space will be delivered in a similar fashion as the adjacent Ponce City Market, which is currently more than 90 percent leased. The building will include open floor plates with exposed 13-foot ceilings, divided light windows, an industrial aesthetic and multiple stair-stepped outdoor terraces. The development team has hired Aileen Almassy of Cushman & Wakefield to lease the office space. Below the footprint of the project, more than 900 new parking spaces will be constructed to serve future office tenants, as well as to the general public on nights and weekends. The new Kroger prototype store will feature a dedicated entrance to the Atlanta BeltLine and replace the existing Kroger store, which was built in 1986 and known to locals as “Murder Kroger.” New City will be working with the owners of the adjacent Ford Factory to create a new dedicated …

January 19, 2016

Florida Southeast Student Housing

Joint Venture Sells Student Housing Portfolio in South Florida for $105.3M

by John Nelson January 19, 2016

BOCA RATON, FLA. — A joint venture partnership between Rosemurgy Properties, Giles Capital Group and Lewis Rental Properties has sold a three-property student housing real estate portfolio in South Florida for $105.3 million. University Park, University View and University Square are located in Boca Raton near Florida Atlantic University. The properties were purchased by an affiliate of Investcorp, a Bahrain-based investment manager, according to The Real Deal. University Park, which sold for $70 million according to The Real Deal, opened in April 2015. The 11-acre, 280,000-square-foot community features eight, four-story buildings with 598 beds in 159 units. Units in University Park are fully furnished and include flat-screen TVs, private bathrooms and in-unit washers and dryers. The complex includes a clubhouse with a lounge, 24-hour gym, gaming rooms and computer labs. Outdoor amenities include a resort-style pool, fire pits and free transportation to and from nearby universities and colleges. Boca Sol was purchased in January 2014, repositioned for student housing and rebranded as University Square. The property, which was built in 1969 and sold for $15 million according to The Real Deal, consists of five, two-story buildings totaling 90 units with 128 beds. Addison Park was purchased in March 2013 and …

January 19, 2016

Florida Seniors Housing Southeast

Sonata Starts Construction of Upscale Seniors Housing Community in Metro Orlando

by John Nelson January 19, 2016

WINTER GARDEN, FLA. — Sonata Senior Living, an Orlando-based owner and operator of senior living communities located in central Florida, has started construction of Sonata West. The luxury independent living and assisted living community will be located in the Orlando suburb of Winter Garden. The property will be located adjacent to Serenades by Sonata, a memory care community also owned and operated by Sonata. The community will feature 78 independent living units and 35 assisted living units in a 139,000-square-foot, two-story building. The community is scheduled for completion in early 2017. Development costs were not disclosed.

January 19, 2016

Office Southeast Tennessee

Colliers Brokers $2.8M Sale of Historic Office Building in Downtown Nashville

by John Nelson January 19, 2016

NASHVILLE, TENN. — Colliers International has arranged the $2.8 million sale of a historic four-story office building located at 227 2nd Ave. North in downtown Nashville. Built in 1911, the fully renovated property is located adjacent to the upcoming 21c Museum Hotel. The buyer, Tennessee-based 227 2nd Avenue North LLC, plans to repurpose the property as apartment residences with ground-floor retail space. Vickie Saito of Colliers International’s Nashville office represented the seller, local real estate investor Scott Chambers, in the transaction.

January 19, 2016

Maryland Massachusetts New York Northeast Retail Virginia

Federal Realty Acquires Six Shopping Centers from JV Partner

by Amy Works January 18, 2016

BOSTON AND NEW YORK CITY — Rockville, Md.-based Federal Realty Investment Trust has acquired the 70 percent interest owned by affiliates of a discretionary funded advised by ING Clarion Partners in a joint venture that owns six shopping centers. The purchase price was approximately $154 million, consisting of $130 million of cash and assumption of the allocable share of mortgage debt. The properties include Atlantic Plaza and Campus Plaza near Boston; Greenlawn Plaza on Long Island; Free State Shopping Center and Plaza del Marcado in suburban Maryland; and Barcroft Plaza in Northern Virginia. With this acquisition, Federal Realty has successfully concluded the the venture that was formed in 2004 and increased its ownership of the 820,000-square-foot portfolio from 30 percent to 100 percent.

January 18, 2016

Georgia Healthcare Southeast

Batson-Cook Tops Out $195M Northside Hospital Cherokee in Metro Atlanta

by John Nelson January 18, 2016

CANTON, GA. — Batson-Cook Construction has topped out the $195 million Northside Hospital Cherokee project in Canton, a northern suburb of Atlanta in Cherokee County. The 525,000-square-foot hospital will replace Northside’s existing 200,000-square-foot, 96-bed hospital on Hospital Road. Since breaking ground in early 2013, the construction project has encompassed 508 tons of steel and 700,000 cubic feet of concrete. Batson-Cook and the joint venture architectural firms of HRD/HDR worked with Northside Hospital for more than two years during the pre-construction phase of the project. Batson-Cook plans to deliver the replacement hospital in January 2017. The Northside Hospital healthcare system is an 838-bed, not-for-profit healthcare provider with more than 120 locations across metro Atlanta, including three acute care hospitals in Fulton, Cherokee and Forsyth counties.

January 18, 2016

Georgia Office Southeast

IPA Arranges $15M Sale of Office Building in Alpharetta

by John Nelson January 18, 2016

ALPHARETTA, GA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $15 million sale of Woodside Terrace, a 123,672-square-foot, Class A office building located at 3755 Mansell Road in Alpharetta, a northern suburb of Atlanta. Ravi Zacharias International Ministries purchased the office building from the undisclosed seller. Built in 1998, Woodside Terrace is a five-story, midrise office property that features masonic construction, two atriums, ribbon windows, a parking field, café, lakeside patio area and a fitness center. Bob Johnson, Gary Lee, Paul Johnson and Korey Prefontaine of IPA represented the buyer and procured the seller.

January 18, 2016

Florida Multifamily Southeast

Franklin Street Brokers $10.7M Sale of Apartment Complex in Tampa

by John Nelson January 18, 2016

TAMPA, FLA. — Franklin Street Real Estate Services has brokered the $10.7 million sale of Cedar Cove Apartments in Tampa. The 180-unit apartment community is located at 8741 Grove Terrace. The buyer, Delaware-based Southeast Residential Recovery Fund VIII LLC, plans to renovate unit interiors and upgrade the site and common areas. Matt Kesterson and James Reed of Franklin Street’s Jacksonville office represented the buyer in the transaction. Darron Kattan, Robert Goldfinger, Kevin Kelleher and Zach Ames of Franklin Street’s Tampa office represented the seller, Metis Brentwood LLC.

January 18, 2016

Kentucky Southeast Student Housing

PEP Buys Student Housing Community Near Western Kentucky University

by John Nelson January 18, 2016

BOWLING GREEN, KY. — Pierce Education Properties (PEP) has purchased a 756-bed, off-campus student housing community near the campus of Western Kentucky University in Bowling Green. The property, called College Suites, is a 216-unit community located just south of the campus. The garden-style brick project includes three- and four-bedroom units, each with bed-to-bath parity, full-size appliances including washers and dryers in every unit, private balconies, and a resort-style pool with sundeck and hot tub. Beginning in the spring, PEP will add large, flat-screen TVs in each unit. Community amenities include a 24-hour fitness center, basketball and volleyball courts, a stadium-seating movie theater, computer/media center, complimentary tanning beds and high-speed Internet. KeyBank Real Estate Capital provided acquisition financing on behalf of PEP.

January 18, 2016

Louisiana Retail Southeast

RCG Ventures Acquires Power Retail Center in Louisiana

by John Nelson January 18, 2016

LAFAYETTE, LA. — RCG Ventures has purchased Acadiana Square, a 244,768-square-foot power retail center in Lafayette. Located adjacent to Acadiana Mall, the retail center is anchored by T.J. Maxx, Party City, PetSmart and Office Depot. Scott Tarbet represented RCG Ventures internally, and Jim Hamilton and Richard Reid of HFF represented the undisclosed seller.

January 18, 2016

Newer Posts

Older Posts