Southeast

Hertz Investment Group Buys City Centre in Jackson’s CBD for $6.2M

by John Nelson October 2, 2015

JACKSON, MISS. — Hertz Investment Group, a Santa Monica, Calif-based commercial real estate investor and manager, has acquired the 266,700-square-foot City Centre located at 200 S. Lamar St. in Jackson’s central business district (CBD). Hertz purchased the two-tower, Class A office property from Parkway Properties for $6.2 million. The office property was 87 percent leased at the time of sale to a tenant mix comprising law firms, government agencies and insurance companies. City Centre was renovated in 1987 and features two lobbies with marble finishes and an atrium with black granite and mahogany panels. In addition to City Centre, Hertz’s downtown Jackson portfolio includes the Pinnacle, One Jackson Place, 111 East Capitol, Regions Plaza and Regions Bank Building. The investor’s overall portfolio spans more than 19 million square feet of office space in 20 cities across 15 states.

October 2, 2015

Georgia Office Southeast

FD Stonewater to Develop $101M FBI Facility in Atlanta

by John Nelson October 1, 2015

ATLANTA — The U.S. General Services Administration (GSA) has awarded a $101 million, 20-year lease contract to Arlington, Va.-based FD Stonewater to develop a build-to-suit facility in Atlanta for the Federal Bureau of Investigation (FBI). The FBI Atlanta Field Office will occupy the 151,066-square-foot project. FD Stonewater expects to break ground on the facility in early 2016 and deliver it in 2017. The building is the 14th build-to-suit lease project that FD Stonewater and its affiliates have developed on behalf of the GSA. Powers Brown Architecture is the lead designer for the project, and Harvey Cleary Builders is the general contractor.

October 1, 2015

Georgia Retail Southeast

S.J. Collins to Build Whole Foods-Anchored Center in Metro Atlanta

by John Nelson October 1, 2015

CHAMBLEE, GA. — S.J. Collins Enterprises will break ground in October on Peachtree Crossing, a 107,160-square-foot grocery-anchored power center in Chamblee, an eastern suburb of Atlanta. The 11-acre site is situated at the intersection of Peachtree Boulevard and Peachtree Road. Whole Foods Market will anchor the project with a 45,000-square-foot store. Other announced tenants include Zoe’s Kitchen, Chipotle Mexican Grill, YEAH! BURGER, Taqueria del Sol and Tokyo Belly. The project will also feature mini-parks, bike racks, play areas for children, a pedestrian trail, connection to the Keswick Trail, public art area and electric vehicle charging stations. S.J. Collins expects to deliver Peachtree Crossing in the first quarter of 2017. Retail Leasing Advisors and Dart Retail Advisors are leasing the project. United Community Bank and The PrivateBank provided construction financing for the project.

October 1, 2015

Loans Retail Southeast Tennessee

KeyBank Arranges $27M CMBS Loan for Lifestyle Retail Center in Tennessee

by John Nelson October 1, 2015

BRISTOL, TENN. — KeyBank Real Estate Capital has arranged a $27 million CMBS first mortgage for Pinnacle at Bristol, a 217,846-square-foot lifestyle retail center located in Bristol. The property’s tenant roster includes Belk, Dick’s Sporting Goods, Marshalls and Bed Bath & Beyond. The center is shadow-anchored by Bass Pro Shop. Scott Bois and Ken Broussard of KeyBank arranged the non-recourse financing.

October 1, 2015

Retail Southeast Tennessee

SRS Brokers $15.3M Sale of Shopping Center in Knoxville

by John Nelson October 1, 2015

KNOXVILLE, TENN. — SRS Real Estate Partners’ Southeast investment sales team has brokered the $15.3 million sale of Windsor Square, a 299,329-square-foot shopping center located at 101-245 N. Seven Oaks Drive in Knoxville. The property’s anchors include Burlington Coat Factory, Big Lots and Old Time Pottery. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller in the transaction.

October 1, 2015

Gulch Crossing 1033 Demonbreun Nashville

Office Southeast Tennessee

Colliers Arranges Office Lease at Gulch Crossing Building in Nashville

by John Nelson October 1, 2015

NASHVILLE, TENN. — Colliers International has arranged an 18,569-square-foot office lease at Gulch Crossing, an office building located at 1033 Demonbreun St. in Nashville. Vickie Saito of Colliers represented the tenant, Industrious NSH Gulch Crossing LLC, in the lease transaction. Industrious is a Chicago-based company that develops working environments with features such as glass-walled offices, coffee bars and relaxation rooms. Industrious has offices in several cities and at each location leases space as a locally established limited liability company. The company has previously developed office space for high-profile tenants such as Pinterest and Instacart. The company plans to be operational at Gulch Crossing by spring 2016.

October 1, 2015

Multifamily North Carolina Southeast

Dominion Realty Partners to Build Apartment Community in Uptown Charlotte

by John Nelson September 30, 2015

CHARLOTTE, N.C. — Dominion Realty Partners has closed on the $8.5 million purchase of a five-acre site on West Trade Street in Uptown Charlotte from Bank of America. The developer will soon begin construction at the site on 1010 West Trade, a 294-unit apartment community. The five-story apartment development will wrap around a parking deck and an interior amenity courtyard that will feature a saltwater pool, grilling stations with big-screen TVs, backyard sports lawn and gathering spaces. Other amenities will include a business center, cyber café, fitness center, clubroom and a demonstration kitchen. Chris Swart of Lincoln Harris represented the seller, and Beau McIntosh of Capstone Apartment Partners represented Dominion Realty Partners in the land purchase. Architectural firm Rule Joy Trammell & Rubio designed 1010 West Trade, and VCC is the general contractor overseeing construction of the project.

September 30, 2015

PSX Corporate Office Building Covington Louisiana

Louisiana Office Southeast

Gulf States Breaks Ground on Two Office Buildings in Louisiana

by John Nelson September 30, 2015

COVINGTON, LA. — Gulf States Real Estate and Construction Services has begun construction on two new office buildings in the Tammany West Multiplex Business Park located along I-12 and Highway 1077 in Covington, roughly 41 miles north of New Orleans. The larger project is the 22,000-square-foot PSX Corporate Office Building, an owner-occupied project that will house PSX Corporate’s offices, a warehouse and an assembly facility. PSX Corporate provides visual arts and special effects for casinos and other entertainment venues. The second building is a 10,450-square-foot project that Gulf States is developing for Durham Properties LLC. This building will be available for lease. Gulf States expects to complete both buildings in late spring 2016. These buildings are the fourth and fifth office projects developed by Gulf States this year.

September 30, 2015

Integra Meadows at ChampionsGate Davenport

Florida Loans Multifamily Southeast

Grandbridge Provides $29.5M Loan for Apartment Community Within ChampionsGate

by John Nelson September 30, 2015

DAVENPORT, FLA. — Grandbridge Real Estate Capital has closed a $29.5 million acquisition loan for Integra Meadows at ChampionsGate, an apartment community within ChampionsGate, a premier golf course resort in Davenport. The property is within 15 minutes from the Walt Disney World Resort and Celebration, a master-planned community originally developed by The Walt Disney Co. Taylor Williams and Purvesh Gosalia of Grandbridge originated the fixed-rate, non-recourse loan through BB&T Real Estate Funding.

September 30, 2015

Retail South Carolina Southeast

Avison Young Brokers $5.8M Sale of Shopping Center in Upstate South Carolina

by John Nelson September 30, 2015

GREER, S.C. — Avison Young has brokered the $5.8 million sale of Pelham Place, a 57,158-square-foot shopping center located at 3093 S. Highway 14 in Greer. Built in 2007, the shopping center was 94 percent leased at the time of sale, but the 38,003-square-foot anchor space is currently vacant. Realop Investments LLC purchased the grocery-anchored asset from Torchlight Investors. Michael Fay led Avison Young’s team in representing the seller in the transaction. David Duckworth, AJ Belt III and John Odom of Avison Young assisted in the transaction.

September 30, 2015

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