Southeast

HFF Arranges $66.3M JV Equity for Acquisition of Office Building in Bethesda

by John Nelson August 3, 2015

BETHESDA, MD. — HFF has arranged $66.3 million in joint venture financing for the acquisition of Atrium at Rock Spring Park, a three-story, 237,000-square-foot office building in Bethesda. Located at 6555 Rock Spring Park Drive, the office asset was 86 percent leased to seven tenants at the time of sale, including The National Institute of Health and SAIC. Dek Potts, Stephen Conley, Jim Meisel, Andrew Weir and Matthew Nicholson of HFF arranged the equity venture between affiliates of Meritage Properties and an unnamed institutional equity investor.

August 3, 2015

Retail Southeast Tennessee

Ziff Properties Acquires Shopping Center in Metro Memphis for $7.4M

by John Nelson August 3, 2015

COLLIERVILLE, TENN. — Ziff Properties Inc. has purchased The Shops at Collierville, a 60,000-square-foot retail center located in Collierville, a Memphis suburb, for $7.4 million. The property’s tenant roster includes Starbucks Coffee, Medpost Urgent Care, Back Yard Burgers, Pizza Hut, Baskin Robbins and The UPS Store. Sheldon Griffin of Baker Storey McDonald Properties represented Ziff Properties in the transaction.

August 3, 2015

Florida Retail Southeast

Westwood Financial Corp. Acquires Shopping Center Near Pensacola

by John Nelson August 3, 2015

GULF BREEZE, FLA. — Westwood Financial Corp. (WFC) has purchased Tiger Point Shopping Center, a 147,400-square-foot shopping center located at 3303 and 3371 Gulf Breeze Parkway in Gulf Breeze near Pensacola. WFC purchased the Winn-Dixie-anchored shopping center from Moulton Properties for an undisclosed price. Built in 1984, the retail property was 87 percent leased at the time of sale. WFC plans to construct 9,000 square feet of new retail shop space at Tiger Point. In addition to Winn-Dixie, the shopping center’s tenant roster includes Beall’s, Papa Murphy’s Pizza and The UPS Store. WFC represented itself in the transaction, and Fain Hicks of DTZ represented the seller.

August 3, 2015

Georgia Office Southeast

Regent Partners Arranges 80,000 SF of New Leases at Concourse Corporate Center in Atlanta

by John Nelson August 3, 2015

ATLANTA — Atlanta-based Regent Partners has arranged 80,000 square feet of new leases at Concourse Corporate Center, a 64-acre, 2.2 million-square-foot office campus in Atlanta’s Central Perimeter submarket. The owner, Building and Land Technology (BLT), tapped Regent Partners to manage and lease the campus, which includes the famous “King and Queen” buildings. The center’s new tenants include 35,000 square feet for Amtrak for its North American IT headquarters. Since purchasing Concourse in April, BLT has made capital improvements to the property, including enhancements to restrooms, common areas, lobbies and public spaces, as well as additional capital for spec suites and tenant improvements.

August 3, 2015

Georgia Mixed-Use Southeast

The Elrod Group Brokers $2.9M Sale of Mixed-Use Project in Athens

by John Nelson August 3, 2015

ATHENS, GA. — The Elrod Group, a division of Coldwell Banker Commercial Upchurch Realty, has brokered the $2.9 million sale of Franklin House, a 21,000-square-foot mixed-use building located at 480 E. Broad St. in Athens. Built in 1845, the Franklin House encompasses 3,100 square feet of retail space, 5,700 square feet of office space and seven apartment residences. Brian Elrod and Daniel Bennett of The Elrod Group represented both the seller and the buyer in the transaction.

August 3, 2015

Florida Market Reports Retail Southeast Southeast Market Reports

New Developments Coming to Miami’s Top Submarkets Will Satisfy Retail Demand

by John Nelson August 3, 2015

Miami is known for its spicy nightlife and beautiful beaches; but those are not the only things the international city has to offer. As the economy continues to surge, many now consider Miami the third major market within the United States following New York City and Los Angeles. Within the city, the retail market has always been attractive to owners and tenants alike, but over the past three years retail has rocketed to the forefront. One of the major factors of this evolution is Miami’s growth, both in population and in tourism. Between being an international vacation destination, a major cruise port, and the gateway to the Caribbean and Latin America, Miami is constantly growing. The weather and city also attracts growth. The population in Miami now is at 2.66 million and Miami Beach’s hotels reported having occupancy levels at or above 94 percent during President’s Day weekend. With this type of growth, Miami is experiencing strong consumer spending and an increase in demand for retail space. Retail vacancies are at an all-time low while rental rates are breaking records. Currently, Miami is considered to be under-supplied per capita in retail. Over the past few years, Miami has been increasing …

August 3, 2015

Georgia Industrial Southeast

Duke Realty to Develop 614,880 SF Spec Warehouse Near Atlanta Airport

by John Nelson July 31, 2015

EAST POINT, GA. — Duke Realty’s Atlanta office plans to develop a 614,880-square-foot speculative warehouse in Camp Creek Business Center. Duke Realty owns the 400-acre industrial park, located off I-285 near Hartsfield-Jackson Atlanta International Airport. The property will be located at 4909 N. Commerce Drive in East Point and will feature 36-foot clear heights, 125 dock doors, 337 automobile parking spaces, 125 trailer parking spaces. The development also includes land that can be used for tenants to build concrete truck courts. Duke Realty plans to deliver the asset in January 2016.

July 31, 2015

Florida Industrial Southeast

Flagler Global Logistics Breaks Ground on Port Canaveral’s First Inland Port Facility

by John Nelson July 31, 2015

TITUSVILLE, FLA. — Flagler Global Logistics has broken ground on the new 246,240-square-foot Titusville Logistics Center in Titusville. The ground breaking marks the start of construction of Port Canaveeral’s first multi-modal inland port facility. Set for completion in early 2016, the facility will support expanding cargo and container terminals. The Canaveral Port Authority is the first major tenant at the property, which will have direct rail connectivity to the Florida East Coast Railway and easy access to I-95 and US Highway 1. The property will also be close to Port Canaveral and adjacent to Space Coast Regional Airport.

July 31, 2015

Maryland Office Southeast

Finmarc Management Buys Office Portfolio in Columbia for $15.8M

by John Nelson July 31, 2015

COLUMBIA, MD. — Finmarc Management Inc. has acquired a four-building flex portfolio comprising 135,000 square feet in Columbia for $15.8 million. Finmarc purchased the portfolio, which was near full occupancy at the time of sale, from First Potomac Realty Trust. Built in 1980, the all-brick, single-story flex portfolio is located at 9150 and 9180 Rumsey Road, near I-95 and Maryland Routes 100 and 29. Mark Glagola and Joe Friedman of Transwestern represented the seller in the transaction.

July 31, 2015

Georgia Mixed-Use Southeast

Franklin Street Brokers $5.9M Sale of Mixed-Use Asset in Metro Atlanta

by John Nelson July 31, 2015

WOODSTOCK, GA. — Franklin Street Real Estate Services has brokered the $5.9 million sale of a mixed-use asset in downtown Woodstock, a northern suburb of Atlanta. Built in 2014, the Class A property features 23 apartment residences and 8,624 square feet of retail space. Jake Reid and Ricky Jones of Franklin Street represented the undisclosed seller in the transaction.

July 31, 2015

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