Southeast

Two Greenway Centre Crescent Nashville Cool Springs

Crescent Communities to Break Ground on Office Building in Nashville’s Cool Springs District

by John Nelson October 16, 2015

FRANKLIN, TENN. — Crescent Communities plans to break ground this month on Two Greenway Centre, a five-story, 155,000-square-foot office building located within the Greenway Centre development in Nashville’s Cool Springs submarket in Franklin. The new Class A office building will be situated on a 16-acre lot adjacent to One Greenway Centre, which Crescent Communities previously developed and leased to Jackson National Life. The project will feature an on-site fitness center, free surface parking and access to existing walking trails. Little Diversified Architectural Consulting designed the building, Jason Holwerda of CNL Commercial Real Estate is the building’s leasing agent and Pinnacle Financial Partners is the construction lender. Crescent plans to deliver the new office project in the fourth quarter of 2016.

October 16, 2015

Louisiana Retail Southeast

Venture Commercial Brokers Sale of Shopping Center in Shreveport

by John Nelson October 16, 2015

SHREVEPORT, LA. — Dallas-based Venture Commercial Real Estate has brokered the sale of Shoppes at Bellemead, an upscale, 79,328-square-foot shopping center located at the northeast quadrant of Youree Drive and East 70th Street in Shreveport. The property’s tenant roster includes Talbots, Chico’s, Ann Taylor Loft, White House Black Market, J. Jill, Soma and Charming Charlie. Jonathan Cooper, Christopher Gibbons, Don Miller, John Zikos and Cheryl Hill of Venture Commercial, along with Shreveport-based Vintage Realty Co., brokered the transaction. An undisclosed buyer purchased Shoppes at Bellemead from WFB/Shoppes at Bellemead LLC, a partnership involving Vintage Realty Co., for an undisclosed price.

October 16, 2015

Georgia Retail Southeast

Sterling Organization Purchases Shopping Center in Metro Atlanta for $12.3M

by John Nelson October 16, 2015

NORCROSS, GA. — Sterling Organization has purchased Peachtree Parkway Plaza, a 95,509-square-foot shopping center located in Norcross, a northeast suburb of Atlanta in Gwinnett County. Sterling purchased the asset from DLC Management Corp. via the firm’s institutional fund Sterling Value Add Partners II LP for $12.3 million. Located at the intersection of Peachtree Parkway and Spalding Drive, the shopping center was 83 percent leased at the time of sale to tenants such as Goodwill, Dollar General and Youfit Health Clubs. Peachtree Parkway Plaza was originally developed in 1986. A new Taco Bell restaurant was recently built at the property, and other national businesses at the property include Blimpie Subs & Salads, Wendy’s and Arby’s.

October 16, 2015

Clarion Hotel Lexington Conference Center

Hospitality Kentucky Southeast

Huff, Niehaus Arranges $5.9M Sale of Hotel in Lexington

by John Nelson October 16, 2015

LEXINGTON, KY. — Huff, Niehaus & Associates Inc. has arranged the $5.9 million sale of the Clarion Hotel Lexington Conference Center in Lexington. The seller, Dogwood Hotels LLC, recently invested $1.2 million to renovate the 149-room hotel. The property sits on a 5.9-acre site off an I-75 exit. Lexington Hospitality Group LLC purchased the hotel from Dogwood and plans to add a restaurant. Brandt Niehaus, president of Huff, Niehaus and a member of Hotel Brokers International, represented the seller in the transaction.

October 16, 2015

Retail Southeast Tennessee

Baceline Investments Purchases Polo Shops in Memphis for $3.8M

by John Nelson October 16, 2015

MEMPHIS, TENN. — Baceline Investments LLC has purchased Polo Shops, two neighborhood retail centers spanning 28,860 square feet, for $3.8 million. The property is located along a major retail corridor at 7444 Winchester Road in Memphis. An entity known as TOP11 – 7444 Winchester RD LLC purchased the property at foreclosure in February 2014 for $3.1 million, according to the Memphis Daily News.

October 16, 2015

The Battery Atlanta Braves SunTrust Park

Georgia Mixed-Use Southeast

Atlanta Braves Reveal Name, Tenant Roster of Mixed-Use Project Adjacent to SunTrust Park

by John Nelson October 15, 2015

ATLANTA — The Atlanta Braves have revealed the name and several tenants of the new mixed-use development surrounding SunTrust Park, the team’s new ballpark set to open in Cobb County in 2017. The name of the project is The Battery Atlanta and the first wave of restaurants include Antico Pizza, Cru Food and Wine Bar, Tomahawk Taproom featuring Fox Bros. Bar-B-Q, Superica and a steak house concept with chef Linton Hopkins, the owner of Atlanta’s Holeman & Finch restaurants. In addition to restaurants and retail, The Battery Atlanta will be home to One Ballpark Center, Comcast’s regional office headquarters housing the new Innovation Lab. The Battery Atlanta is being developed by the Atlanta Braves along with retail partner Fuqua Development, office developer Pope & Land Enterprises and Pollack Shores Real Estate. The development will also house an Omni hotel and The Roxy Theatre, a 53,000-square-foot indoor entertainment venue co-developed by The Atlanta Braves and Live Nation.

October 15, 2015

Alabama Mixed-Use Southeast

RCP Cos. to Develop $100M Mixed-Use Project in Downtown Huntsville

by John Nelson October 15, 2015

HUNTSVILLE, ALA. — RCP Cos. plans to develop CityCentre at Big Spring, a $100 million mixed-use development in downtown Huntsville’s central business district. Located on Williams Avenue between Monroe Street and Lowe Avenue, CityCentre at Big Spring will feature nearly 50,000 square feet of retail and restaurant space, more than 270 upscale apartment residences and office lofts. Plans also include two hotels operated by Huntsville-based Yedla Hotel Management that will span more than 230 rooms. The project’s structured and street-level parking will provide approximately 750 parking spaces. The new development will be integrated with Big Spring Park on nine acres downtown and between the popular Von Braun Center and Twickenham Square. Site demolition is complete, and construction is expected to begin by year-end. RCP Cos. plans to open Phase I in 2016. Pittsburgh-based Urban Design Associates serves as the project’s master planner and is providing insight on architectural patterns, building forms and the overall urban plan. Birmingham, Ala.-based CMH Architects is providing architectural services, and Retail Leasing Advisors and Dart Retail Advisors are the exclusive leasing agents for the new development.

October 15, 2015

St. Andrews Apartments Johns Creek Atlanta

Georgia Multifamily Southeast

The Shoptaw Group Acquires Upscale Apartment Community in Metro Atlanta

by John Nelson October 15, 2015

JOHNS CREEK, GA. — The Shoptaw Group (TSG) has purchased St. Andrews Apartments, a 228-unit luxury multifamily community located in the affluent Atlanta suburb of Johns Creek. The company plans to renovate the property’s interior units upon completion of the purchase. Patterson Real Estate Advisory Group arranged a $27 million, floating rate acquisition loan through MetLife on behalf of TSG.

October 15, 2015

Multifamily Southeast Virginia

CBRE Brokers $18M Sale of Apartment Community in Hampton Roads Area

by John Nelson October 15, 2015

HAMPTON, VA. — CBRE | Richmond and CBRE | Hampton Roads have brokered the $18 million sale of New Hampton Commons Apartments. The 252-unit apartment community is located at 1482 Queens St. in Hampton. Klein Hampton LLC purchased the asset from New Hampton LP. The apartment community comprises one-, two- and three-bedroom townhomes and was 95 percent occupied at the time of sale. The property features a community clubhouse, amenity deck and swimming pool. Craige Pelouze and Charles Wentworth of CBRE | Richmond, along with Dan Johnson and Hank Hankins of CBRE | Hampton Roads, represented the seller in the transaction.

October 15, 2015

District of Columbia Retail Southeast

Marcus & Millichap Brokers $3.2M Sale of Vacant Retail Property in D.C.

by John Nelson October 15, 2015

WASHINGTON, D.C. — Marcus & Millichap has brokered the $3.2 million sale of a 5,440-square-foot vacant retail property located at 1301 H St. N.E. in Washington, D.C. The property, formerly St. John’s Church of God, sold for $2.2 million in 2013. Josh Feldman and Ben Wilson of the Feldman Group, part of Marcus & Millichap’s Washington, D.C., office, represented the seller, a group of attorneys, in the transaction. Feldman and Wilson also procured the buyer, a developer that cited interest in the H Street corridor as the reasoning behind the purchase. The developer plans to raze the property and develop a four-story, mixed-use condominium building with ground-floor retail space at the site. The property is a block from the H Street Country Club, Rock and Roll Hotel and Biergarten Haus.

October 15, 2015

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