QUITMAN, GA. — Grandbridge Real Estate Capital’s seniors housing and healthcare finance team in Atlanta has arranged a $7.1 million loan for the 204-bed Presbyterian Home and Retirement Community of Quitman in Quitman, a town near the Georgia-Florida border. BB&T referred Grandbridge to the transaction. Richard Thomas of Grandbridge originated the fully amortizing, 35-year refinance loan through FHA’s 232/223(a)(7) program.
UNION CITY, GA. — Atlanta-based Rooker has partnered with 404 Studio Partners to develop a movie and television studio known as Atlanta Metro Studios. The 345,000-square-foot project will be located in Union City, 17 miles southwest of downtown Atlanta. Phase I of the studio will feature 130,500 square feet of soundstages, 60,000 square feet of office space and 50,000 square feet of construction/flex space. Rooker, which purchased the 90-acre property in February, will be the developer and general contractor of the studio complex. 404 Studio Partners, led by a team of film and television production professionals, will be the exclusive sales, marketing and operations management company for the studio facilities. The site of the studio complex is currently home to the former Shannon Mall, which is currently being demolished. Additionally, Rooker is developing a 1.1 million-square-foot distribution center at the site. The property will feature 36-foot clear heights, 60-foot-wide bay spacing, ESFR fire suppression and 900 parking spaces. Colliers International is the leasing agent for the distribution center. Vertical construction on both the studio facility and the distribution center will begin in March 2015 with completion expected in fourth-quarter 2015.
NASHVILLE, TENN. — Brasfield & Gorrie has signed a lease to occupy office space at 1201 Demonbreun, a $50 million, 15-story office tower in Nashville’s Gulch neighborhood. Brasfield & Gorrie is the general contractor of the 680,000-square-foot project, which includes 305,000 square feet of office space and a 375,000-square-foot parking deck with 950 spaces. The project team includes developer Eakin Partners and architect Hastings Architecture Associates. Brasfield & Gorrie expects to deliver 1201 Demonbreun in late 2016 and move in to its office space in spring 2017. Other committed tenants include talent agency William Morris Endeavor, law firm Neal & Harwell and Sony Music Nashville.
ROME, GA. — Crossman & Co. has brokered the $21 million sale of Charles Hight Square, a Publix-anchored shopping center located in Rome. The property’s tenant roster includes Wells Fargo, AT&T, Jimmy John’s and Mattress Firm. John Zielinski, Mark Thompson and Leah Harrington of Crossman & Co. represented the seller in the transaction.
ANDERSON, S.C. — HLC Equity has sold a 192,000-square-foot Walmart Supercenter located at 3812 Liberty Highway in Anderson. Wal-Mart Stores Inc. currently has 13.7 years remaining on its triple-net lease. The property is part of a 330,000-square-foot power retail center that includes a Sam’s Club and a 5,000-square-foot strip center. CBRE represented HLC Equity in the transaction.
RALEIGH, N.C. — Grandbridge Real Estate Capital has arranged an $8.3 million loan for Six Forks Square, a 149,372-square-foot office campus in Raleigh. The office park was fully leased to the State of North Carolina at the close of the transaction. Robert Hukill and Wesley Fricks of Grandbridge originated the loan through BB&T Real Estate Funding on behalf of the owner, Heritage Capital Group, which purchased the office park for $12.4 million. The loan features three years of interest-only payments and a 25-year amortization schedule.
GREENVILLE, S.C. — Trammell Crow Co. (TCC) has named Greenville-based Centennial American Properties as its local partner in the redevelopment of the Greenville News building in downtown Greensville. The two companies will develop a mixed-use project that could possibly include an upscale hotel, retail and restaurant space, dine-in movie theater, office building, multifamily residences, public plazas and pedestrian walkways, a parking garage and other uses that would fit within the upscale nature of the project. TCC is under contract with Gannett Publishing to purchase the Greenville News building, which is located on Main Street. Jackson Hughes Jr. of Hughes Commercial Properties is handling retail leasing for the development, and CBRE is handling office leasing. Wakefield Beasley & Associates is designing the project.
GREENVILLE, S.C. — McMillan Pazdan Smith has completed construction on Furman University’s $8.8 million Pearce-Horton Football Complex. The 44,000-square-foot facility is located adjacent to the existing stadium and features a locker room, player’s lounge area, coaches’ offices, position/team meeting rooms, sports medicine/athletic training suite and a team equipment/laundry room. The complex also features a press box and private suite/club level with catering amenities.
LOUISVILLE, KY. — Marcus & Millichap has arranged the sale of Glenmary Village Apartments, a 272-unit multifamily community located off Bardstown Road at 9606 Clubview Drive in southeast Louisville. Aaron Johnson of Marcus & Millichap’s Louisville office represented the seller in the transaction. The buyer, Utah-based Peak Capital, purchased Glenmary Village for an undisclosed price. Built in 2003 on 22 acres, Glenmary Village Apartments features a large pool and sun deck and an upgraded resort-style clubhouse with veranda, business center, workout facilities and a kitchen area.
NEW PORT RICHEY, FLA. — Plaza Advisors has brokered the sale of Pasco Square Shopping Center, a 135,421-square-foot retail asset located at the intersection of State Road 54 and Rowan Road in New Port Richey. The property was 90 percent leased at the time of sale to tenants such as Beall’s Outlet, Dollar General Market, Badcock Home Furnishings, Dollar Tree, GNC, Radio Shack, The UPS Store and Subway. Jim Michalak, Mike Cvetetic and Nick Castellano of Plaza Advisors represented the seller, Phillips Edison & Co., in the transaction. The buyer, Isram Acquisition Corp., purchased the asset for $7.4 million. No other brokers were involved in the transaction.
