Southeast

Marcus & Millichap’s Chetek Group Brokers $32.5M Sale of Retail Power Center in Mobile

by John Nelson November 4, 2016

MOBILE, ALA. — Marcus & Millichap’s Chetek Group has arranged the $32.5 million sale of Eastern Shore Plaza, a 270,105-square-foot retail power center located at 10200 Eastern Shore Blvd. in Mobile. Built in 2004, the property was 96 percent leased at the time of sale to tenants such as Ross Dress for Less, Old Navy, Michael’s, PetSmart, Cost Plus World Market, Dollar Tree and Ashley Furniture. Brett Chetek and Alex Perez of the Chetek Group, along with Andrew Chason of Marcus & Millichap, represented the seller, a private Alabama-based development group. Michael Fasano is Marcus & Millichap’s broker of record in Alabama. The buyer was undisclosed.

November 4, 2016

Industrial South Carolina Southeast

Development Group to Build 331,850 SF Spec Industrial Facility in Greenville

by John Nelson November 4, 2016

GREENVILLE, S.C. — A development partnership between Atlanta-based TPA Group, Greenville-based Appian Investments and Boston-based Long Wharf Real Estate Partners plans to build a new 331,850-square-foot spec industrial facility in Greenville. The property will be situated within the 1,100-acre Augusta Grove business park on a 46.1-acre site at the intersection of Matrix Parkway and Old Grove Road. Known as Augusta Grove #17, the Class A, rear-load project will feature 32-foot clear heights, LED lighting and an ESFR sprinkler system. The development team plans to break ground on the property by the end of the year and wrap up construction by late summer 2017. NAI Earle Furman is marketing the property for lease or sale. The project team includes Greenville-based general contractor Harper Corp., architect Wakefield Beasley & Associates and civil engineer blueWATER Civil Design.

November 4, 2016

Georgia Industrial Southeast

Coldwell Banker Eberhardt & Barry Arranges Sale of 433,000 SF Industrial Property in Georgia

by John Nelson November 4, 2016

THOMASTON, GA. — Coldwell Banker Commercial Eberthardt & Barry Inc. has brokered the sale of a 433,000-square-foot industrial property in Thomaston. The buyer, Australasia Holdings LLC, plans to lease the building to a third-party logistics provider servicing nearby cabinet manufacturers, as well as a national appliance manufacturer. Situated on an 80-acre site beside the Upson County Reservoir, the property was originally built in 1994 as a textile manufacturing and distribution facility for Thomaston Mills. Atlantic Lakeside Properties, a paper products company, purchased the asset in 2004 and leased it to manufacturers for the next 10 years before closing its doors in 2014. Art Barry III of Coldwell Banker Commercial Eberthardt & Barry brokered the transaction.

November 4, 2016

Florida Mixed-Use Retail Southeast Top Stories

CNL Lifestyle Properties Sells Resort Retail Portfolio in U.S., Canada for $103M

by John Nelson November 4, 2016

ORLANDO, FLA. — In a move to further liquidate the company, CNL Lifestyle Properties Inc., a REIT specializing in the acquisition of resort properties, has sold a seven-property portfolio of international trophy retail assets located within luxury resorts for $103 million. A private real estate consortium between The Imperium Cos., MMG Equity Partners and Blue River Family Office Partners was the buyer. The portfolio consists of 423,482 square feet of ground-floor retail in the mixed-use villages of six ski resorts and one golf and beach resort in the United States and Canada. The properties include: • Whistler Creekside Village in Whistler, British Columbia • The Village at Mammoth in Mammoth Lakes, Calif. • Village at Snowshoe in Snowshoe, W.Va. • Village at Cooper in Frisco, Colo. • Stratton Mountain Village in South Londonderry, Vt. • Blue Mountain Village in Blue Mountains, Ontario and • The Village of Baytowne Wharf in Miramar Beach, Fla. Lori Schneider of Marcus & Millichap’s Institutional Property Advisors (IPA) division arranged the sale. Schneider, along with the Marcus & Millichap’s brokers of record for each state in the portfolio, exclusively represented the seller and procured the buyer. “These stabilized yet dynamic assets are unique in location, …

November 4, 2016

Florida Mixed-Use Retail Southeast

Swire Opens $1.05B Brickell City Centre’s Open-Air Shopping Center to the Public

by John Nelson November 3, 2016

MIAMI — Hong Kong-based Swire Properties, along with co-developers Whitman Family Development and Simon Property Group, has opened the first group of retail stores at Brickell City Centre, a $1.05 billion mixed-use destination in downtown Miami’s Brickell district. The project’s 500,000-square-foot, open-air shopping center housing more than 100 retailers and eateries, including a flagship Saks Fifth Avenue, Victoria’s Secret, Suit Supply, lululemon athletica, Cinemex, Coach, LIVE! and Porsche Design. Opening in 2017 will be a three-story Italian food hall that will feature a market, wine shop, gelato, cheese bar and restaurant. Swire Properties is integrating the Miami Metromover transit system with Brickell City Centre with a stop that exits directly onto the shopping center’s third floor. About 20 percent of the retail center at Brickell City Centre will feature retailers exclusive to the area and/or entering the United States for the first time from Europe and Latin America. The development, which also features two condo towers, two Class A office towers and the EAST, Miami hotel, are linked together by Climate Ribbon, a $30 million elevated trellis of steel, glass and fabric that is designed to harness Miami’s bay breezes while deflecting direct sunlight. The shopping center is currently 92 …

November 3, 2016

Office Southeast Virginia

Transwestern Brokers $69.5M Sale of Office Building in Metro D.C.

by John Nelson November 3, 2016

ARLINGTON, VA. — Transwestern has arranged the $69.5 million sale of Ballston Metro Center, a 235,568-square-foot office building located at 901 N. Stuart St. in Arlington, roughly five miles outside of Washington, D.C. A joint venture between PERSEUS Realty and ELV Associates purchased the asset from Ballston Metro Investors LLC. Gerry Trainor and Mark Glagola of Transwestern’s Mid-Atlantic capital markets group represented the seller in the transaction. The new ownership group plans to make capital improvements to the office building. Ballston Metro Center is situated directly above Ballston Metro Station and within one block of Ballston Common Mall, which is undergoing a $317 million renovation and repositioning into Ballston Quarter.

November 3, 2016

North Carolina Office Southeast

Bissell Signs Wells Fargo to 287,507 SF Office Lease in Charlotte

by John Nelson November 3, 2016

CHARLOTTE, N.C. — The Bissell Cos. has signed Wells Fargo to a full-building lease at the Brigham Building situated within Ballantyne Corporate Park in Charlotte. Located at 11625 N. Community House Road, the 10-story, 287,507-square-foot is under construction and set for completion in December. Wells Fargo will occupy the building starting in 2017. The Class A office building overlooks The Golf Club at Ballantyne and features a two-story lobby, glass exterior curtain walls and free structured parking. The Bissell Cos. is developing Brigham Building to achieve LEED Gold certification.

November 3, 2016

North Carolina Office Southeast

Stiles to Develop Office Building in Charlotte’s South End

by John Nelson November 3, 2016

CHARLOTTE, N.C. — Stiles plans to develop a new Class A, 64,000-square-foot office building located at 300 W. Summit Ave. in Charlotte’s historic South End neighborhood. The three-story project will feature underground parking and a rooftop terrace. The asset will be situated within walking distance of the Bland Rail Station, less than one mile from the Dowd YMCA and three miles from I-85. Stiles’ Charlotte office has begun site work and will begin vertical construction in March 2017, with an expected delivery in first-quarter 2018. Charley Leavitt and Stephen Woodard of JLL are handling the office building’s leasing responsibilities.

November 3, 2016

Industrial South Carolina Southeast

Liberty Property Trust Breaks Ground on 171,600 SF Warehouse in Upstate South Carolina

by John Nelson November 3, 2016

GREER, S.C. — Liberty Property Trust has broken ground on Caliber North, a 171,600-square-foot warehouse situated within the Caliber Ridge industrial park in Greer. Located at I-85 and Green Road, the warehouse is situated near the BMW Manufacturing Plant and the South Carolina Inland Port. Set for an April 2017 completion, Caliber North will feature 7-inch concrete slab floors and 36-foot clear heights, the first warehouse in the market built to those specifications. The project team includes architect MCA Architecture, civil engineer blueWATER Civil Design and general contractor Harper Corp. Jaime Maldonado of Liberty Property Trust is Caliber North’s project manager, and Liberty’s Bryan Blythe is teaming up with Brian Young, Elliott Fayssoux and Kacie Jackson of Cushman & Wakefield | Thalhimer to market the project. Liberty is planning to build a second property at the site totaling 94,500 square feet.

November 3, 2016

District of Columbia Office Southeast

JBG Cos. Sells Class A Office Building in D.C.’s Georgetown District for $141.8M

by John Nelson November 2, 2016

WASHINGTON, D.C. — The JBG Cos. has sold a Class A, eight-story office building located at 1025 Thomas Jefferson St. in Washington, D.C.’s Georgetown district for $141.8 million. HFF represented JBG Cos. and procured the buyer, Alduwaliya Asset Management, a private investment vehicle based in the United Kingdom that represents a high net-worth family in Qatar. The 317,248-square-foot building is situated directly across from Georgetown Waterfront Park and Washington Harbour. The building was 96 percent leased at the time of sale to 22 tenants including Palantir Technologies, the American Institutes of Research, Carlton Fields, Education Development Center and Combined Properties. Built in 1984, 1025 Thomas Jefferson features two multi-level courtyards with fountains, a brick façade, fitness center, deli, Metrorail shuttle and 268 below-grade parking spaces. Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley and Matt Nicholson led HFF’s investment sales team in the transaction.

November 2, 2016

Newer Posts

Older Posts