Southeast

Hankins Properties to Develop Mixed-Use Project in Winston-Salem MSA

by John Nelson March 3, 2016

CLEMMONS, N.C. — Hankins Properties plans to develop Clemmons Town Center, a 246,000-square-foot mixed-use development in Clemmons, a suburb of Winston-Salem. The project will feature retail and restaurants in a Main Street layout, a 139-room hotel, office space, surface parking lot and a two-tiered parking deck. The project will anchor the 340-acre Village Point project, which features a 312-unit apartment community, Novant’s $100 million hospital complex, Morgan Elementary School, WFBMC Medical Plaza and a Publix-anchored shopping center known as Peace Haven Village. Lewisville, N.C.-based Gillon Design is the project’s architect. Winston-Salem-based Meridian Realty Group brokered the sale of the 20-acre site between Hankins and the seller, Village Pointe LLC. Hankins has retained Meridian Realty to lease and manage the project, which is slated to break ground later this summer.

March 3, 2016

Archer Park Washington DC Congress Heights

Affordable Housing District of Columbia Multifamily Southeast

DCHFA Provides Construction Financing for Affordable Housing Property in D.C.

by John Nelson March 3, 2016

WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has provided acquisition and construction funding for Archer Park, a four-story, 190-unit affordable housing project in Washington, D.C.’s Congress Heights neighborhood. The developer, WC Smith, will build the community into the 1200 block of Mississippi Avenue Southeast. The project is being financed utilizing $28.2 million in DCHFA short- and long-term tax exempt bonds and $19.6 million raised through syndication of low income housing tax credits (LIHTCs). Archer Park is Phase I of a two-phase redevelopment project of the former Trenton Terrace apartment complex. Upon completion in summer 2017, Archer Park will feature 24 efficiency units, 95 one-bedroom units and 71 two-bedroom units. The project will be affordable to families whose incomes are at or below 60 percent of the area median income (AMI), with 14 units rented to families earning 30 percent or less of the AMI and 10 reserved as permanent supportive housing. The property will include a 128-space parking garage, solar panels on the roof, a roof terrace, fitness center, business center and a meeting room. Phase II of the project will be a 74-unit townhouse development that will be separately financed for sale.

March 3, 2016

Georgia Industrial Southeast

Kroger Sells 528,000 SF Industrial Property in Atlanta for $14.5M

by John Nelson March 3, 2016

ATLANTA — Kroger has sold Bouldercrest Distribution Center, a three-building, 528,000-square-foot cold storage/food distribution center in southeast Atlanta, for $14.5 million. Highridge Provender purchased the property, which features a 374,155-square-foot dry grocery warehouse, a 132,184-square-foot freezer warehouse and a 21,119-square-foot truck maintenance building. Kroger has owned the property since 1992, but is in the process of relocating to the 1.2 million-square-foot, build-to-suit Gillem Logistics Center in Forest Park, Ga. Kroger will lease Bouldercrest from Highridge Provender for one year during the transition. Chris Cummings and Turner Wisehart of Colliers International’s Atlanta office represented the buyer in the transaction and will market the project for lease going forward.

March 3, 2016

Hospitality Southeast Tennessee

Windsor Aughtry Brokers $6.3M Sale of Hampton Inn Johnson City

by John Nelson March 3, 2016

JOHNSON CITY, TENN. — Windsor Aughtry Co. Inc. has brokered the $6.3 million sale of Hampton Inn Johnson City, a 77-room hotel located at 508 N. State of Franklin Road in Johnson City. Pleasantburg Hospitality Inc. sold the hotel, which it has owned since the hotel was built in 1995. Jay Alexander and Bill Fayssoux of Windsor Aughtry represented Pleasantburg Hospitality in the transaction.

March 3, 2016

Georgia Mixed-Use Southeast

Jamestown to Open The Roof at Ponce City Market in Atlanta

by John Nelson March 2, 2016

ATLANTA — Jamestown plans to open the final phase of Ponce City Market known as The Roof at Ponce City Market. Located on the roof of the mixed-use development, the project will feature boardwalk-style amusement games and rides, an 18-hole miniature golf course and a slide. On April 3, The Roof will host a miniature golf tournament organized by the Kyle Korver Foundation, Plywood People and the Jamestown Charitable Foundation. Proceeds from the event, called Putt! Putt! Putt!, will support 18 local charities in Atlanta. The Roof will open to the public in mid-2016. Jamestown hopes to pay homage to the Ponce de Leon amusement park, which was formerly situated at the site of Ponce City Market. Located along the Atlanta BeltLine in the Old Fourth Ward, Ponce City Market features 259 residential units, 550,000 square feet of Class A loft office space, 300,000 square feet of retail and restaurants and a pedestrian bridge linking the interior courtyard and public market to the BeltLine.

March 2, 2016

The Village at Marquee Station Fuquay-Varina

Multifamily North Carolina Southeast

Blue Heron Asset Management Sells Apartment Community in Raleigh-Durham MSA for $41.5M

by John Nelson March 2, 2016

FUQUAY-VARINA, N.C. — Blue Heron Asset Management LLC has sold The Village at Marquee Station, a 265-unit, Class A apartment community located at 2110 Cinema Drive in Fuquay-Varina, a suburb of Raleigh-Durham. Chapel Hill, N.C.-based Blue Heron sold the property, which it developed in phases between 2013 and 2014, to Starlight U.S. Multi Family Core Fund for $41.5 million. Toronto-based Starlight Investments Ltd. manages the fund. Allan Lynch and Justin Good of HFF represented Blue Heron in the transaction. The Village at Marquee Station’s units average 996 square feet, and its community amenities include a saltwater swimming pool with cabanas, poolside grilling, fitness center, clubhouse, gaming lounge and media studio, resident lounge with billiards, pet grooming salon, car care center and detached garages. Clancy & Theys Construction was the general contractor for the apartment community, which has maintained an occupancy rate in the mid-90 percent range since early 2015, according to HFF.

March 2, 2016

Alabama Hospitality Southeast

Hunter Hotel Advisors Brokers $14M Sale of Hotel in Downtown Huntsville

by John Nelson March 2, 2016

HUNTSVILLE, ALA. — Hunter Hotel Advisors has brokered the $14 million sale of Homewood Suites Downtown Huntsville, a 101-room extended stay hotel in downtown Huntsville. The hotel was built in 2014 within the Twickenham Square urban center. Hunter Hotel Advisors represented the seller, PHD Hotels, in the transaction. A New York-based investment firm was the buyer.

March 2, 2016

Georgia Retail Southeast

Preferred Apartment Communities Buys Publix-Anchored Shopping Center in Metro Atlanta

by John Nelson March 2, 2016

KENNESAW, GA. — Preferred Apartment Communities Inc., through its wholly owned subsidiary New Market Properties LLC, has acquired Wade Green Village in Kennesaw, roughly 25 miles outside of Atlanta. The 75,000-square-foot shopping center is anchored by a 47,814-square-foot Publix grocery store. The transaction involved the contribution of Wade Green Village in exchange for Class A units of the company’s operating partnership.

March 2, 2016

Pipeline Workspaces One Financial Center Fort Lauderdale

Florida Office Southeast

Pipeline Workspaces Leases Full Floor at One Financial Plaza in Downtown Fort Lauderdale

by John Nelson March 2, 2016

FORT LAUDERDALE, FLA. — Pipeline Workspaces, a company providing shared workspace utilized by entrepreneurs and start-ups, has entered into a 20-year lease for an entire floor at One Financial Plaza, a 28-story office tower located at 100 S.E. Third Ave. in downtown Fort Lauderdale. Pipeline Lauderdale will become the company’s fourth location in South Florida, following the recent opening of Pipeline in Doral’s business district, as well as existing locations in Miami’s Brickell Financial District and Coral Gables’ Central Business District. Pipeline Workspaces will provide shared office space, conference rooms, phone booths, dedicated desks and private offices. The company will join One Financial Plaza’s existing tenants, including Regions Bank, AXA Advisors, Fowler White Burnett and Tower Club. Shay Pope of CBRE represented Pipeline Workspaces in the lease transaction. Jon Blunk, Laurel Oswald and Cristina Glaria of Cushman & Wakefield represented the owner, Crocker Partners. Robert Rausch of Hunton & Williams provided legal counsel to Pipeline.

March 2, 2016

Florida Hospitality Mixed-Use Multifamily Office Restaurant Retail Southeast Top Stories

Construction Begins on $1.7B Miami Worldcenter Mixed-Use Development

by Haisten Willis March 2, 2016

MIAMI — Construction has begun on Miami Worldcenter, one of the largest urban mixed-use projects in the country, and its signature residential tower, Paramount Miami Worldcenter. This marks the start of the $1.7 billion, 27-acre development’s retail component. “You are literally going to see six blocks being developed all at the same time. This is basically step one of multiple steps in which you are going to see six buildings going vertical,” says Daniel Kodsi, developer and CEO of Paramount Miami Worldcenter. Miami Worldcenter will include Paramount and six other residential and office buildings, an 1,800-room Marriott Marquis and convention center, an intermodal hub and a retail and restaurant promenade. CoastalTishman, a joint venture between Miami-based Coastal Construction and New York-based Tishman Construction, is close to completing the installation of 400 pilings that will support the glass-clad tower designed by Elkus Manfredi Architects in collaboration with Paramount Miami Worldcenter’s in-house design team. Upon completion of the pilings, CoastalTishman will start building the tower’s foundation. The first phase of construction will focus on Paramount Miami Worldcenter, a 700-foot, 60-story residential skyscraper. The $500 million tower will feature one of the largest amenity decks in the country, spanning 90 feet above downtown …

March 2, 2016

Newer Posts

Older Posts