Southeast

The Battery Atlanta Braves SunTrust Park

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

Georgia Loans Multifamily Southeast

Greystone Provides $58M Loan for Apartment Community in Metro Atlanta

by John Nelson October 14, 2015

MARIETTA, GA. — Greystone has provided a $58 million bridge loan to recapitalize the ownership of Watermark at East Cobb, a 510-unit apartment property in Marietta, a northern suburb of Atlanta. The apartment community features two resort-style pools, tennis courts, an athletic center, playground, volleyball courts, outdoor kitchen, nature trail, fishing lake and a pet park. Keith Hires and Greg Krafcik of Greystone originated the three-year bridge loan on behalf of the borrower, Cortland Partners. Mike Galla and David Collie of iCap Realty Advisors arranged the loan, which Cortland Partners will use to repay current debt, recapitalize membership interests and position for permanent financing.

October 14, 2015

300 Cormorant Place Frederick The Retreat at Market Square

Maryland Multifamily Southeast

Inland Residential Properties Trust Purchases Apartment Community in Metro Baltimore for $45.8M

by John Nelson October 14, 2015

FREDERICK, MD. — Inland Residential Properties Trust Inc., a non-listed REIT sponsored by Inland Real Estate Investment Corp., has purchased The Haven at Market Square, a 206-unit apartment community in the Baltimore suburb of Frederick, for approximately $45.8 million. Built in 2014 and located at 300 Cormorant Place, Inland Residential will soon rebrand the property as The Retreat at Market Square. Each unit at the property features 9-foot ceilings, gourmet kitchens and full-size washer and dryer units, and select units feature private screened-in balconies or sunrooms. The multifamily community’s amenities include a clubhouse with a 24-hour fitness center, community kitchen, Internet café, sports simulator, resort-style swimming pool, two grilling areas, an outdoor fireplace and a playground. Joe Cosenza of Inland Real Estate Acquisitions facilitated the purchase on behalf of Inland Residential.

October 14, 2015

Georgia Retail Southeast

Lincoln Property Co. Southeast, SRS Broker $23M Sale of Regional Power Center in Georgia

by John Nelson October 14, 2015

WARNER ROBINS, GA. — Lincoln Property Co. Southeast and SRS Real Estate Partners have arranged the $23 million sale of City Crossing, a 298,933-square-foot regional power center located at 2620 Watson Blvd. in Warner Robins, roughly 20 miles south of Macon, Ga. The property was 86 percent leased at the time of sale to tenants such as The Home Depot (not part of the transaction), Ross Dress for Less, HomeGoods, Old Navy and Michaels. D&J Real Estate Management purchased the property from Wells Fargo Bank NA. Tony Bartlett and Chris Sipple of Lincoln, along with Kyle Stonis and Pierce Mayson of SRS, represented the seller in the transaction. Wells Fargo engaged Lincoln Property Co. Southeast in 2012 as the receiver of the asset, and the Dallas-based firm leased and managed the asset during that time.

October 14, 2015

Mixed-Use North Carolina Southeast

Beacon Partners Acquires Mixed-Use Asset in Charlotte for $21.7M

by John Nelson October 14, 2015

CHARLOTTE, N.C. — Charlotte-based Beacon Partners has purchased Park Village, a 92,222-square-foot mixed-use asset located at 1520 South Blvd. in Charlotte, for $21.7 million. Located adjacent to the LYNX light rail station in Charlotte’s South End neighborhood, the property features one floor of ground-level retail space and two stories of office space. Park Village’s tenant roster includes Aveda Institute, Beasley Media Group and Carrabba’s. Patrick Gildea led CBRE in representing the sellers, Ferncroft Capital and PRP LLC, in the transaction.

October 14, 2015

Industrial South Carolina Southeast

Binswanger Arranges $3.1M Sale of Industrial Building in South Carolina

by John Nelson October 14, 2015

GRAY COURT, S.C. — Binswanger has brokered the $3.1 million sale of a 91,264-square-foot, single-story industrial building located at 100 ISO Parkway in Gray Court. The facility is situated on a 20-acre lot roughly two miles south of I-385. The property features a six-foot concrete floor, insulated metal walls and roof, ceiling heights ranging from roughly 26 feet in the warehouse to more than 50 feet in the production area, metal halide lighting, sprinkler system, 4,900 square feet of office space, seven dock-high doors and one drive-in door. In addition, the property includes an on-site rail spur provided by Rail America via a short line connection to CSX. Mogul Novwovens, a Turkish producer of medical and personal wet wipes, purchased the facility for manufacturing and to expand its product line. Mogul plans to hire 38 employees and begin operating out of the facility in the second quarter of 2016. The company purchased the asset from Polymer Group Inc. Shaun Kirchin and Doug Faris of Binswanger represented Polymer Group in the transaction.

October 14, 2015

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