Southeast

Cardinal Ventures Hires Frampton Construction to Build New Seniors Housing Property in Columbia MSA

by John Nelson October 29, 2015

ELGIN, S.C. — Mississippi-based seniors housing developer Cardinal Ventures has hired Frampton Construction Co., a South Carolina-based construction firm, to build The Blake at Woodcreek Farms, an assisted living and memory care community in the Columbia suburb of Elgin. The Class A community will be a two-level, 100-unit facility when completed. This will be the first South Carolina location of The Blake, which has other locations in Alabama, Florida, Louisiana and Mississippi. Frampton Construction broke ground on the community in September, and expects to open The Blake in the fall of 2016.

October 29, 2015

North Carolina Office Southeast

CBRE Brokers $27M Sale of Office Park in Metro Charlotte

by John Nelson October 29, 2015

HUNTERSVILLE, N.C. — CBRE has brokered the $27 million sale of Kenton Circle, a 135,757-square-foot, three-building office park in Huntersville, part of the North Charlotte office submarket. Kenton Circle’s anchor tenants include Bank of America Merrill Lynch, Wells Fargo, Berkshire Hathaway HomeServices Carolinas Realty and IMG. A joint venture between Acre Valley Real Estate Capital LLC and ABS Partners Real Estate LLC purchased the property from Childress Klein and WHI Real Estate Partners LLC. Childress Klein will continue to serve as property manager and leasing agent for the new owner. Patrick Gildea of CBRE’s Charlotte office represented the sellers in the transaction.

October 29, 2015

Florida Industrial Southeast

McCraney Property Inks 451,823 SF Build-to-Suit Lease in Orlando

by John Nelson October 29, 2015

ORLANDO, FLA. — McCraney Property Co. has secured a new, long-term build-to-suit lease with Freeman Expositions Inc. for 451,823 square feet at Bent Oak Phase II in Orlando. The 1 million-square-foot development project is planned to complement the existing 703,920-square-foot Phase I of Bent Oak at 1701 and 1802 Boice Pond Road. The lease represents the largest build-to-suit industrial lease signed in the market in more than seven years, bringing the industrial park to 48 percent leased prior to the construction of Bent Oak II. McCraney Property has teamed up with joint venture partner Clarion Partners to develop Bent Oak II. Bent Oak II will be located at the intersection of Taft Vineland Road and the Florida Turnpike and will deliver by year-end 2016 and will consist of six buildings in total. Freeman will relocate from its current locations to occupy 100 percent of Building 600. McCraney Property has hired Edwards Construction, C4 Architecture and Smiley & Associates Engineering to design and build the project. Matt Sullivan of Cite Partners represented McCraney Property and Clarion Partners in the transaction. Tom McCarthy, Joe Hills and Josh Lipoff of JLL represented the tenant.

October 29, 2015

Brightview Fallsgrove 9200 Darnestown Road Rockville

Loans Maryland Seniors Housing Southeast

Grandbridge Arranges $19M Refinancing of Seniors Housing Property in Maryland

by John Nelson October 29, 2015

ROCKVILLE, MD. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has arranged the $19 million refinancing of Brightview Fallsgrove, a seniors housing property located at 9200 Darnestown Road in Rockville. The property features 70 assisted living units and the 24-unit Wellspring Village, which houses residents needing dementia care. Richard Thomas and Meredith Davis of Grandbridge arranged the loan through an agency lender of behalf of the owner.

October 29, 2015

Florida Multifamily Southeast

Carter, Hunt Investment Management to Build High-Rise Apartments in Downtown Sarasota

by John Nelson October 28, 2015

SARASOTA, FLA. — Carter and Hunt Investment Management have formed a joint venture to develop a 180-unit high-rise apartment community in downtown Sarasota. The development will be located at the corner of 2nd Street and Central Avenue, directly across the street from Whole Foods Market. Hunt Investment Management is managing the investment on behalf of an institutional client, and SunTrust Bank is providing construction financing. The 10-story, Class A project will include one-, two-, three- and four-bedroom apartments and 15,000 square feet of retail space. Each unit will feature quartz countertops, stainless steel appliances, open floorplans, large windows, 10-foot ceilings, balconies and high-speed Internet wiring. Community amenities will include a 24-hour fitness center, resort-style swimming pool, clubroom and an outdoor deck. The first three stories of the development will include secured parking for residents. Two hotel-style suites for tenants to rent for short-term guests will also be available. The design team includes architect Hoyt Architects, general contractor Core Construction and property manager Pinnacle Property Management. The project will start construction before year-end with completion scheduled for early 2017.

October 28, 2015

Georgia Mixed-Use Southeast

Juneau Construction Delivers Mixed-Use Development in Downtown Athens

by John Nelson October 28, 2015

ATHENS, GA. — Juneau Construction Co. has completed work on Georgia Heights, a 375,650-square-foot, six-story mixed-use student housing community with 266 units of housing and retail space in downtown Athens, north of the University of Georgia campus. Residents of Georgia Heights moved in in August, in time for the 2015 fall semester. Juneau co-developed, with Schenk Realty and EdR, Georgia Heights, which has one-, two- and four-bedroom apartments, approximately 375 parking spaces and 44,702 square feet of ground-level commercial retail space. A 14,000-square-foot CVS/pharmacy — set to open in 2016 — and a 6,000-square-foot J. Crew store that will open this fall will anchor the development’s commercial retail space. Several other retailers and restaurants, a leasing office and postal facility will complete the development. Each apartment at Georgia Heights offers private bathrooms and bedrooms, a full kitchen and in-unit washer and dryer. Amenities include several outdoor community areas, a courtyard patio and pool, fitness facilities, study lounges and computer labs.

October 28, 2015

Florida Retail Southeast

Dunphy Properties, Batson Cook to Build Publix-Anchored Project in Florida

by John Nelson October 28, 2015

RIVERVIEW, FLA. — Tampa-based Dunphy Properties and Atlanta-based Batson Cook Development Co. have formed a joint venture to build Rivercrest Commons, a grocery-anchored shopping center located at the intersection of U.S. 301 and Symmes Road in Riverview. Publix will anchor the property, which will feature a Publix Liquor Store and an additional 16,100 square feet of inline retail space housing Casablanca Spa, East Wok, Majik Touch Dry Cleaning and Hair Cuttery. Joe Tyszko of Insite Realty’s Clearwater, Fla., office is responsible for leasing the project. Rivercrest Commons is slated for a summer 2016 completion.

October 28, 2015

Georgia Loans Multifamily Southeast

Prestwick Cos. Secures $24.3M Financing from SunTrust for Apartment Redevelopment

by John Nelson October 28, 2015

ATHENS, GA. — Prestwick Cos. has secured $24.2 million in financing from SunTrust Bank and SunTrust Community Capital (STCC) to redevelop an apartment complex in Athens. Atlanta-based Prestwick will use the proceeds to redevelop North Grove Apartments, an affordable 127-unit property. Financing for the project includes a $13.5 million equity investment from STCC and construction loans totaling $10.8 million from SunTrust Bank. The renovated community will feature one-, two- and three-bedroom units, as well as modern appliances and upgrades to HVAC systems and water heaters. Remodeling will include improvements to the community room, laundry facility, exercise center and computer lab. Community amenities such as a business center, picnic pavilion and playground are also planned. Prestwick began redevelopment of the property in June and is expected to complete work by the summer of 2016.

October 28, 2015

Florida Office Southeast

Crocker Partners Signs Southeastern Grocers to 160,000 SF Office Lease in Jacksonville

by John Nelson October 28, 2015

JACKSONVILLE, FLA. — Crocker Partners has signed Southeastern Grocers, the parent company of Winn-Dixie and Bi-LO, to a 160,000-square-foot lease at Prominence office park in Jacksonville. Located at Baymeadows Road and I-95, the office park will serve as the supermarket chain’s new corporate headquarters. The long-term lease comes midway into the office park’s $8 million overhaul. Renovations will begin soon on the four-story Building 200, and Southeastern Grocers will occupy the building in full when the company relocates in early 2016. JLL represented Crocker Partners in the transaction, and CBRE represented Southeastern Grocers.

October 28, 2015

Georgia Mixed-Use Southeast

RocaPoint Partners, Georgetown Co. to Build $370M Mixed-Use Development in Metro Atlanta

by John Nelson October 27, 2015

ALPHARETTA, GA. — RocaPoint Partners and New York-based The Georgetown Co. have closed on the land purchase for HALCYON, a $370 million mixed-use development in Forsyth County. The new development will be located directly off Georgia 400’s Exit 12 on McFarland Parkway in Alpharetta. A groundbreaking is scheduled for January 2016, and the grand opening is set for fall 2017. Phase I plans include 125,000 square feet of retail space. Leased by JLL, HALCYON’s commercial village will include a movie or entertainment venue, gourmet market, outdoor outfitter, up to 10 local and regional full-service and fast-casual restaurants, a boutique fitness club and service retail. Up to 65,000 square feet of loft offices and built-to-suit spaces are included in Phase I of the village, as well as a 110-room hotel developed by Tharaldson Hospitality and a trailhead for Big Creek Greenway, a 9.6-mile paved recreation trail and linear park in Forsyth County. When complete, HALCYON will have two hotels, more than 360,000 square feet of office and retail space and two miles of nature trails. RocaPoint has partnered with Monte Hewett Homes and Edward Andrews Homes to develop HALCYON’s for sale residences, which include 87 single-family units and 155 townhomes with …

October 27, 2015

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