Southeast

Carter, Hunt Investment Management to Build High-Rise Apartments in Downtown Sarasota

by John Nelson October 28, 2015

SARASOTA, FLA. — Carter and Hunt Investment Management have formed a joint venture to develop a 180-unit high-rise apartment community in downtown Sarasota. The development will be located at the corner of 2nd Street and Central Avenue, directly across the street from Whole Foods Market. Hunt Investment Management is managing the investment on behalf of an institutional client, and SunTrust Bank is providing construction financing. The 10-story, Class A project will include one-, two-, three- and four-bedroom apartments and 15,000 square feet of retail space. Each unit will feature quartz countertops, stainless steel appliances, open floorplans, large windows, 10-foot ceilings, balconies and high-speed Internet wiring. Community amenities will include a 24-hour fitness center, resort-style swimming pool, clubroom and an outdoor deck. The first three stories of the development will include secured parking for residents. Two hotel-style suites for tenants to rent for short-term guests will also be available. The design team includes architect Hoyt Architects, general contractor Core Construction and property manager Pinnacle Property Management. The project will start construction before year-end with completion scheduled for early 2017.

October 28, 2015

Georgia Mixed-Use Southeast

Juneau Construction Delivers Mixed-Use Development in Downtown Athens

by John Nelson October 28, 2015

ATHENS, GA. — Juneau Construction Co. has completed work on Georgia Heights, a 375,650-square-foot, six-story mixed-use student housing community with 266 units of housing and retail space in downtown Athens, north of the University of Georgia campus. Residents of Georgia Heights moved in in August, in time for the 2015 fall semester. Juneau co-developed, with Schenk Realty and EdR, Georgia Heights, which has one-, two- and four-bedroom apartments, approximately 375 parking spaces and 44,702 square feet of ground-level commercial retail space. A 14,000-square-foot CVS/pharmacy — set to open in 2016 — and a 6,000-square-foot J. Crew store that will open this fall will anchor the development’s commercial retail space. Several other retailers and restaurants, a leasing office and postal facility will complete the development. Each apartment at Georgia Heights offers private bathrooms and bedrooms, a full kitchen and in-unit washer and dryer. Amenities include several outdoor community areas, a courtyard patio and pool, fitness facilities, study lounges and computer labs.

October 28, 2015

Florida Retail Southeast

Dunphy Properties, Batson Cook to Build Publix-Anchored Project in Florida

by John Nelson October 28, 2015

RIVERVIEW, FLA. — Tampa-based Dunphy Properties and Atlanta-based Batson Cook Development Co. have formed a joint venture to build Rivercrest Commons, a grocery-anchored shopping center located at the intersection of U.S. 301 and Symmes Road in Riverview. Publix will anchor the property, which will feature a Publix Liquor Store and an additional 16,100 square feet of inline retail space housing Casablanca Spa, East Wok, Majik Touch Dry Cleaning and Hair Cuttery. Joe Tyszko of Insite Realty’s Clearwater, Fla., office is responsible for leasing the project. Rivercrest Commons is slated for a summer 2016 completion.

October 28, 2015

Georgia Loans Multifamily Southeast

Prestwick Cos. Secures $24.3M Financing from SunTrust for Apartment Redevelopment

by John Nelson October 28, 2015

ATHENS, GA. — Prestwick Cos. has secured $24.2 million in financing from SunTrust Bank and SunTrust Community Capital (STCC) to redevelop an apartment complex in Athens. Atlanta-based Prestwick will use the proceeds to redevelop North Grove Apartments, an affordable 127-unit property. Financing for the project includes a $13.5 million equity investment from STCC and construction loans totaling $10.8 million from SunTrust Bank. The renovated community will feature one-, two- and three-bedroom units, as well as modern appliances and upgrades to HVAC systems and water heaters. Remodeling will include improvements to the community room, laundry facility, exercise center and computer lab. Community amenities such as a business center, picnic pavilion and playground are also planned. Prestwick began redevelopment of the property in June and is expected to complete work by the summer of 2016.

October 28, 2015

Florida Office Southeast

Crocker Partners Signs Southeastern Grocers to 160,000 SF Office Lease in Jacksonville

by John Nelson October 28, 2015

JACKSONVILLE, FLA. — Crocker Partners has signed Southeastern Grocers, the parent company of Winn-Dixie and Bi-LO, to a 160,000-square-foot lease at Prominence office park in Jacksonville. Located at Baymeadows Road and I-95, the office park will serve as the supermarket chain’s new corporate headquarters. The long-term lease comes midway into the office park’s $8 million overhaul. Renovations will begin soon on the four-story Building 200, and Southeastern Grocers will occupy the building in full when the company relocates in early 2016. JLL represented Crocker Partners in the transaction, and CBRE represented Southeastern Grocers.

October 28, 2015

Georgia Mixed-Use Southeast

RocaPoint Partners, Georgetown Co. to Build $370M Mixed-Use Development in Metro Atlanta

by John Nelson October 27, 2015

ALPHARETTA, GA. — RocaPoint Partners and New York-based The Georgetown Co. have closed on the land purchase for HALCYON, a $370 million mixed-use development in Forsyth County. The new development will be located directly off Georgia 400’s Exit 12 on McFarland Parkway in Alpharetta. A groundbreaking is scheduled for January 2016, and the grand opening is set for fall 2017. Phase I plans include 125,000 square feet of retail space. Leased by JLL, HALCYON’s commercial village will include a movie or entertainment venue, gourmet market, outdoor outfitter, up to 10 local and regional full-service and fast-casual restaurants, a boutique fitness club and service retail. Up to 65,000 square feet of loft offices and built-to-suit spaces are included in Phase I of the village, as well as a 110-room hotel developed by Tharaldson Hospitality and a trailhead for Big Creek Greenway, a 9.6-mile paved recreation trail and linear park in Forsyth County. When complete, HALCYON will have two hotels, more than 360,000 square feet of office and retail space and two miles of nature trails. RocaPoint has partnered with Monte Hewett Homes and Edward Andrews Homes to develop HALCYON’s for sale residences, which include 87 single-family units and 155 townhomes with …

October 27, 2015

Research Building Two University of Kentucky

Healthcare Kentucky Southeast

HGA to Design University of Kentucky’s $265M Research Facility

by John Nelson October 27, 2015

LEXINGTON, KY. — The University of Kentucky has tapped HGA Architects and Engineers to design Research Building Two (RB2), its new $265 million, 306,000-square-foot research center on the Lexington campus. Construction is underway on the facility, which will house scientific research that will work to resolve health disparities in Kentucky such as cancer, obesity, diabetes, cardiovascular diseases and substance abuse. Champlin Architecture serves as the executive architect and architect of record. Slated for completion in the summer of 2018, RB2 will be located west of the existing Biomedical Biological Sciences Research Building and north of the Biological Pharmaceutical Building. Consultants on the project include Affiliated Engineers Inc., CMTA Engineering Consultants, THP Limited Inc., CARMAN, Jacobs Engineering Group Inc. and Towers | Golde.

October 27, 2015

Florida Hospitality Southeast

WoodSpring Hotels, Gold Coast Break Ground on New Hotel Near Zoo Miami

by John Nelson October 27, 2015

MIAMI — WoodSpring Hotels and Gold Coast Premier Properties LLC have broken ground on a new WoodSpring Suites hotel near Zoo Miami. Located at Coral Reef Drive and parallel to the Florida Turnpike, the hotel is slated for a third-quarter 2016 opening. The 124-room property will feature laundry facilities, modified kitchens and high-speed Internet. Gold Coast is also developing a WoodSpring Suites Signature hotel in Miami’s Doral submarket.

October 27, 2015

Office South Carolina Southeast

NAI Avant Brokers $7M Sale of Office Building in Columbia

by John Nelson October 27, 2015

COLUMBIA, S.C. — NAI Avant has brokered the $7 million sale of Broad River Commons, a 135,675-square-foot office building located at 2340 Broad River Road in Columbia. The property is located one block from I-20 and a quarter mile from I-26. Denver-based Northstar Commercial Partners was the buyer. Jeff Hein and Roger Winn, Jr. of NAI Avant brokered the sale. NAI Avant recently represented an undisclosed tenant in leasing 63 percent of Broad River Commons’ available space.

October 27, 2015

Retail Southeast Virginia

Lidl Purchases Site in Virginia for $3.1M for New Grocery Store

by John Nelson October 27, 2015

FREDERICKSBURG, VA. — Lidl, a grocery retailer based in Germany, has purchased a four-acre land parcel in Spotsylvania County for $3.1 million. Lidl plans to build a 36,000-square-foot grocery store on the site, which is located at the intersection of Gordon Road and Route 3 in Fredericksburg. J.R. Burdette and Jonathan Gardner of Coldwell Banker Commercial Elite represented the seller, Henderson Properties, in the land transaction. This is the second store site purchased by Lidl in Spotsylvania County. In August, Lidl closed on a two-acre parcel in Southpoint II across Southpoint Parkway from Lowe’s Home Improvement and adjacent to 7–Eleven. The company is looking to enter into the U.S market with its first stores planned in Virginia and expected to open no later than 2018. In June, Lidl also purchased an 82-acre parcel to build a major distribution warehouse in Spotsylvania County. The distribution warehouse in Spotsylvania County is planned to be approximately 1 million square feet and cost around $125 million. The facility is also projected to provide 200 local jobs.

October 27, 2015

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