Southeast

Alexander Investments Breaks Ground on $102M Multifamily Portfolio in Central Florida

by John Nelson September 16, 2016

CLEARWATER AND LONGWOOD, FLA. — Alexander Investments International has begun construction on The Alexander at Countryside in Clearwater and The Alexander at Sabal Point in Longwood. The $102 million investment will total 616 apartment units featuring one-, two- and three-bedroom layouts with nine-foot ceilings, 42-inch cabinets, quartz or granite countertops, wood-style plank flooring and screened verandas. Both projects will feature clubhouses with fitness centers, game rooms, bar areas, resort-style pools with gazebos, fire pits and grilling stations. The 330-unit Alexander at Countryside will rent from $1,100 to $2,000 per month, and the 286-unit Alexander at Sabal Point will rent from $980 to $1,800 per month. Alexander Investments plans to deliver both assets by the end of 2017.

September 16, 2016

Loans Louisiana Multifamily Southeast

G.S. Wilcox Arranges $44.2M Financing for Two Multifamily Assets in Louisiana

by John Nelson September 16, 2016

HARVEY AND ALGIERS, LA. — G.S. Wilcox & Co. has arranged two loans totaling $44.2 million for apartment communities in Harvey and Algiers. David Fryer of G.S. Wilcox arranged the two loans through Legacy Texas Bank on behalf of an unnamed, repeat client of G.S. Wilcox. The financing includes a $24.2 million loan for the refinancing of a 408-unit garden-style community in Harvey and a $20 million acquisition loan for a 442-unit garden-style community in Algiers.

September 16, 2016

Florida Office Southeast

Gladstone Commercial Buys Five-Story Office Building in Fort Lauderdale for $23.9M

by John Nelson September 16, 2016

FORT LAUDERDALE, FLA. — Gladstone Commercial Corp. has purchased Park Center, a five-story, 119,224-square-foot office building located at 6363 N.W. 6th Way in Fort Lauderdale’s Cypress Creek submarket. Gladstone Commercial purchased the office building from RFP Mainstreet Park/Cypress LLC, a joint venture between Mainstreet Capital Partners and Realty Financial Partners, for $23.9 million free and clear of debt. The asset is fully leased to Citrix Systems, a digital app and data systems solutions provider with annual revenue exceeding $3 billion. Hermen Rodriguez, Jorge Portela and Ike Ojala of HFF represented the seller and procured the buyer in the transaction.

September 16, 2016

Maryland Retail Southeast

Wegmans to Open 109,000 SF Store at Foundry Row in Metro Baltimore

by John Nelson September 16, 2016

OWINGS MILLS, MD. — Wegmans, a supermarket chain, plans to open a 109,000-square-foot store at Foundry Row in Owings Mills on Sunday. Greenberg Gibbons and Vanguard are co-developing Foundry Row, a $140 million, 50-acre redevelopment of the site of the former Solo Cup factory on Reisterstown Road. The store will be Wegmans’ eighth location in Maryland and the second in Baltimore County. One of the first stores to open at Foundry Row, the new Wegmans will feature a Market Café with a seating area and The Burger Bar restaurant. A La-Z-Boy Home Furnishings and Décor store is also opening at Foundry Row this weekend.

September 16, 2016

Hospitality Maryland Southeast

Cordish Breaks Ground on $200M Hotel, Event Center at Maryland Live! Casino in Metro Baltimore

by John Nelson September 15, 2016

HANOVER, MD. — The Cordish Cos. of Baltimore has begun construction on a $200 million, 17-story hotel and event center at the Maryland Live! Casino in Hanover, roughly 11 miles south of Baltimore. Set to open in the fourth quarter of 2017, the 350,000-square-foot property will feature 310 guest rooms, a 1,500-seat event center, meeting spaces, restaurants, a store, 1,000 parking spaces and a day spa/salon. The project is expected to create approximately 400 jobs and 550 construction jobs. The design team includes Klai Juba Wald Architects, McLaren Engineering Group, Laurence Lee Associates, Cleo Design Corp., Selbert Perkins, Corsi & Associates, Lynne Curry Spa Consulting, Giovanetti Schulman Association and EDSA. Tutor Perini Building Corp. will serve as the hotel’s general contractor.

September 15, 2016

Georgia Multifamily Southeast

Mill Creek Residential to Develop High-Rise Apartment Tower in Atlanta’s Buckhead District

by John Nelson September 15, 2016

ATLANTA — Mill Creek Residential plans to develop Modera by Mill Creek – Buckhead, a 21-story multifamily high-rise located at 3005 Peachtree Road N.E. in Atlanta’s Buckhead district. Situated at the corner of Peachtree and Pharr roads adjacent to Buckhead Atlanta, the community will feature 400 luxury apartment homes and more than 21,000 square feet of high-end retail space. Mill Creek is developing the property in a joint venture with Elite International Investment Fund, a real estate investment platform backed by Asian capital. Community amenities will include two outdoor terraces with swimming pools, a rooftop terrace, rooftop dog park, destination sky bar, demonstration kitchen, indoor spa, steam room, yoga studio, juice bar, fitness center and an open-air social lounge. Mill Creek expects pre-leasing and initial move-ins at the high-rise for summer 2018.

September 15, 2016

Retail Southeast Tennessee

Carolina Holdings to Develop Hobby Lobby, TJ Maxx and Five Below in Metro Nashville

by John Nelson September 15, 2016

SMYRNA, TENN. — Carolina Holdings Inc. has closed on a 10-acre site along Sam Ridley Parkway in Smyrna between Academy Sports + Outdoors and Lowe’s Home Improvement. Three retailers — Hobby Lobby, TJ Maxx and Five Below — will occupy the site. The development team for the retail development includes Nashville-based civil engineer Ragan Smith, Nashville-based general contractor Crain Construction and Greenville, S.C.-based architect COR3 Design. United Community Bank provided construction financing for the project. Hobby Lobby is expected to open in the spring, and TJ Maxx and Five Below to open shortly thereafter.

September 15, 2016

Florida Multifamily Southeast

Berkadia Brokers $17.6M Sale of Apartment Community in Jacksonville

by John Nelson September 15, 2016

JACKSONVILLE, FLA. — Berkadia has arranged the $17.6 million sale of Viera at Mandarin, a 188-unit apartment community located at 4263 Losco Road in Jacksonville. Built in 1984, the property features one- and two-bedroom units averaging 833 square feet. Unit interiors feature granite countertops, in-unit washer and dryers and private patios or balconies, as well as wood-burning fireplaces and vaulted ceilings in select units. Community amenities include an indoor athletic center, swimming pool and a 21-acre lake with fountains, a deck and boat storage. Greg Rainey, Cole Whitaker, Tal Frydman and Jason Stanton of Berkadia brokered the sale between the buyer, North Kansas City, Mo.-based Maxus Realty Trust Inc., and the seller, Nashville, Tenn.-based Woodbridge Multifamily Partners LLC.

September 15, 2016

North Carolina Office Southeast

Portman Holdings Signs Regions Bank to 63,806 SF Office Lease in Uptown Charlotte

by John Nelson September 15, 2016

CHARLOTTE, N.C. — Portman Holdings has signed Regions Bank to a 63,806-square-foot office lease at 615 South College, a speculative 370,000-square-foot office building under construction in Uptown Charlotte. Regions Bank is the first tenant to sign on at the 19-story office building, which is expected to open in early 2017. The building is positioned at Uptown Charlotte’s first light rail stop at Stonewall Station. Travis Garland of Portman Holdings, along with John Ball and Peter Conway of Trinity Partners, represented the ownership in the lease transaction. Sim Wilson, Mike Fahey and Mark Decherd of CBRE represented Regions Bank in the lease deal.

September 15, 2016

Georgia Office Southeast

NCR to Expand Upcoming Headquarters Campus in Midtown Atlanta With $145M Tower

by John Nelson September 14, 2016

ATLANTA — NCR Corp., a global finance technology firm, plans to expand its new world headquarters campus currently under construction in Midtown Atlanta. The $145 million expansion will add a 14-story tower, which will be connected to a 20-story office tower that is set to open in the first quarter of 2018. The second tower is scheduled to be ready for occupancy in the first quarter of 2019. Currently headquartered in Duluth, Ga., NCR will bring more than 1,800 employees to the headquarters campus, which will feature amenities such as eateries with outdoor seating, a coffee bar, gym, informal gathering places and a large lecture space. NCR and Cousins Properties entered into a long-term, build-to-suit lease for the second tower, which will be owned and developed by Cousins, as is the first tower. NCR, the Georgia Department of Economic Development and Invest Atlanta have agreed on additional incentives for the new tower.

September 14, 2016

Newer Posts

Older Posts