Southeast

Encore Hospitality Buys Doubletree Suites in Atlanta, Plans $6M Renovation

by John Nelson October 3, 2014

ATLANTA — Encore Hospitality, a subsidiary of Dallas-based Encore Enterprises Inc., has purchased a 154-room Doubletree Suites by Hilton hotel in Atlanta. The hotel is located in Cobb County immediately adjacent to SunTrust Park, the future ballpark of the Atlanta Braves that is slated to open by Opening Day 2017. Encore plans on investing $6 million to remodel the hotel to include a new lobby with a multi-story water feature and a sports-themed lounge. Encore purchased the hotel for an undisclosed price from Inland Hospitality. Atlanta-based Hodges Ward Elliott brokered the transaction.

October 3, 2014

Office South Carolina Southeast

NAI Avant Brokers $4M Sale of Downtown Charleston Office Building

by John Nelson October 3, 2014

CHARLESTON, S.C. — NAI Avant has brokered the $4 million sale of 150 Wentworth St. in downtown Charleston. Dexter Rumsey of NAI Avant represented the buyer, Harbor House Inc., in the transaction. Harbor House is a local nonprofit organization that plans to convert the existing property into South Carolina’s first Fisher House, a lodging option where families of military veterans or active duty members can stay for free while their loved ones receive medical care. Construction is slated to begin in 2016.

October 3, 2014

Florida Georgia Retail South Carolina Southeast

HFF Brokers Sale of Grocery-Anchored Shopping Center Portfolio

by John Nelson October 2, 2014

ATLANTA — HFF has closed on the sale of a retail portfolio consisting of seven Publix-, Kroger- and BI-LO-anchored shopping centers totaling 513,723 square feet in Florida, Georgia, South Carolina and Texas. The properties include Kingwood Glen in Houston; Doral Isles in Miami; Barclay Crossing in Tampa; Deltona Landings in Orlando; Parkway Centre in Columbus, Ga.; Publix at Powder Springs in Atlanta; and Sweetgrass Corner in Charleston, S.C. Richard Reid, Danny Finkle, Ryan West, Rusty Tamlyn, Jim Hamilton and Luis Castillo of HFF represented the seller, a joint venture between BVT Equity Holdings Inc. and WealthCap, in the transaction. The seven retail assets had a combined 96.5 percent occupancy at the time of the sale.

October 2, 2014

Retail Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges $1.9M Sale of Richmond Strip Center

by John Nelson October 2, 2014

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $1.9 million sale of a 15,220-square-foot retail strip center located at 7601 W. Broad St. in Richmond. C. Richmond Properties LLC purchased the asset from HM Real Estate Holding LLC. The strip center was fully leased at the time of the sale. Catharine Spangler and Bruce Bigger of Cushman & Wakefield | Thalhimer’s capital markets group represented the seller in the transaction.

October 2, 2014

Florida Georgia Industrial Southeast

King Industrial Realty/CORFAC Completes Two Industrial Leases

by John Nelson October 2, 2014

LAWRENCEVILLE, GA. AND GREEN COVE SPRINGS, FLA. — King Industrial Realty/CORFAC International has completed 183,000 square feet of industrial leases in two transactions in Lawrenceville and Green Cove Springs. Specialty Rolled Metals LLC has leased 83,000 square feet of space for five years at 975 Progress Center Drive in Lawrenceville. Jeff Graham and Jason McCart of King/CORFAC represented the landlord, Dietrich Gross Trust, in the transaction. Additionally, Graham represented U.S. Lumber Group in a five-year, 100,528-square-foot lease renewal at 4627 J.P. Hall Blvd., Suite 107 in Green Cove Springs. The building is owned by Green Cove LLC.

October 2, 2014

District of Columbia Office Southeast

CBRE Arranges 148,613 SF Lease Renewal at One Metro Center in D.C.

by John Nelson October 2, 2014

WASHINGTON, D.C. — CBRE has arranged a 148,613-square-foot lease renewal at One Metro Center, a 421,235-square-foot trophy office building in Washington, D.C.’s East End neighborhood. The six-story office property is located at 701 13th St. N.W., approximately three blocks from the White House. White & Case LLP, an international law firm, renewed its lease with the owner, Jamestown LP. Randy Harrell, Kevin Howard, Joe Coleman and Melissa Byrd of CBRE represented Jamestown in the lease transaction. Tom Doughty and Greg McCavera of JLL represented White & Case.

October 2, 2014

Florida Healthcare Southeast

Five Duke Realty MOBs in Central Florida Earn BOMA Awards

by John Nelson October 2, 2014

INDIANAPOLIS — The Building Owners and Managers Association (BOMA) has recently designated five Duke Realty-owned and managed medical office buildings in Florida as BOMA 360 Performance Buildings. The five facilities, which are located on hospital campuses in Central Florida, include: Celebration Medical Plaza, Kissimmee Medical Plaza, East Orlando Medical Surgical Plaza, Sebring Medical Pavilion and the Wesley Chapel Wellness Center. The BOMA 360 Performance Program recognizes commercial properties that demonstrate best practices in building operations and management, according to BOMA.

October 2, 2014

Florida Retail Southeast

Marcus & Millichap Brokers $22.5M Sale of Gateway to Miami Beach

by John Nelson October 1, 2014

MIAMI BEACH, FLA. — Marcus & Millichap has brokered the $22.5 million sale of The Gateway to Miami Beach, two net-leased retail buildings totaling more than 18,000 square feet in Miami Beach. The property is located at 1100 5th St. on the southeast corner of 5th Street and Alton Road in South Beach’s South of Fifth (SOFI) neighborhood. The two net-leased buildings are fully leased to Pier 1 Imports and Burger King. Scott Sandelin of Marcus & Millichap’s Miami office represented the seller, a Miami Beach-based limited liability company, in the transaction. Jonathan Gerszberg of Marcus & Millichap’s Miami office secured the buyer, a private investor based in New York.

October 1, 2014

Florida Multifamily Southeast

Related Development Breaks Ground on Four Multifamily Projects

by John Nelson October 1, 2014

MIAMI — Related Development LLC has begun construction on four multifamily projects in Florida totaling 1,129 units. The four developments include SOFA-Delray, Town-Pembroke Pines, Doral View II and Town-University Drive. Related Development has more than 4,700 units in the development pipeline for completion and/or groundbreaking in the next 12 months.

October 1, 2014

Florida Office Southeast

Riviera Point Development to Build EB-5 Funded Office Building in South Florida

by John Nelson October 1, 2014

MIRAMAR, FLA. — Riviera Point Development Group plans to develop the $18 million Riviera Point Corporate Center, a 72,000-square-foot office building located at Southwest 145th Avenue and Southwest 27th Street in Miramar. This is the third office building funded through the U.S. Immigrant Investor program, also known as EB-5. Riviera Point Development has retained Stiles Realty to lease the project, which was designed by Corrales Group Architects. Under the U.S. Citizenship and Immigration Services (USCIS) program, the EB-5 program allows a foreign national interested in obtaining permanent U.S. residency to do so by investing in a commercial enterprise that generates at least 10 jobs for U.S. workers for two years. The qualifying investment for a project like Riviera Point Corporate Center is $500,000.

October 1, 2014

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