Southeast

Colliers Brokers $10.9M Sale of Power Retail Center in Alabama

by John Nelson June 12, 2015

DECATUR, ALA. — Colliers International’s Southeast retail investment sales team has brokered the $10.9 million sale of The Market Shoppes, a power retail center located at 2407 6th Ave. in Decatur. Built in 2012, the Class A center was fully leased at the time of sale to tenants such as Kohl’s, Ulta Beauty, Lane Bryant and Mattress Firm. A family trust based in California purchased The Market Shoppes from Birmingham-based Blackwater Resources. Tony D’Ambrosio and Joe Montgomery of Colliers represented the seller in the transaction.

June 12, 2015

Pavilion Center 9755 Dogwood Road Roswell

Georgia Office Southeast

Atlanta Property Group Sells Three Class B Office Buildings in Metro Atlanta

by John Nelson June 12, 2015

SANDY SPRINGS AND ROSWELL, GA. — Atlanta Property Group, an investor and owner of office and industrial assets in the metro Atlanta area, has disposed of three Class B office assets in Sandy Springs and Roswell. The buildings total 125,283 square feet and include Hightower Centre I and II at 8300 and 8302 Dunwoody Place in Sandy Springs and Pavilion Center at 9755 Dogwood Road in Roswell. Kevin Markwordt and Todd Syprett of Transwestern’s Southeast investment sales group represented Atlanta Property Group in the transaction.

June 12, 2015

Southeast Tennessee

Berkadia Opens New Office in Chattanooga

by John Nelson June 12, 2015

CHATTANOOGA, TENN. — Commercial real estate services firm Berkadia has opened a new office in Chattanooga. Berkadia has hired Marcus Lyons, former president and CEO of The Lyons Group Inc., to head the new office and serve as director. Lyons will collaborate with partner David Oakley of Berkadia’s Birmingham, Ala., office to generate investment sales opportunities, work directly with new and existing clients and expand the company’s economic, investment and apartment market reporting/research in the Chattanooga area. Lyons has bachelor’s degrees in Finance and Accounting from The University of Tennessee at Chattanooga.

June 12, 2015

Florida Multifamily Southeast

ZOM Breaks Ground on 50-Story High-Rise Apartment Building in Miami

by John Nelson June 11, 2015

MIAMI — ZOM has broken ground on Solitair, a 438-unit, 50-story multifamily high-rise in Miami. The apartment tower is located at 86 S.W. 8th St. in Miami’s Brickell district, a block between Brickell City Centre and Mary Brickell Village. JP Morgan Chase and HSBC Bank USA provided construction financing for the project on behalf of ZOM and its joint venture partner, an affiliate of AIG Global Real Estate. The design team includes architect ADD Inc. and general contractor Balfour Beatty Construction. ZRS Management LLC will provide property management services for the tower upon completion, which is set for late 2017, according to ZOM.

June 11, 2015

Office South Carolina Southeast

Trinity Capital, Durlach to Develop Class A Office Building in North Charleston

by John Nelson June 11, 2015

NORTH CHARLESTON, S.C. — Trinity Capital Advisors has partnered with Durlach Associates to develop Faber Plaza, a Class A office building located in North Charleston’s Faber Place submarket. The 125,000-square-foot building will be located at 4400 Leeds Ave., at the entrance to The Executive Park at Faber Place and Leeds Park. Rob Cochran and Jared Londry of DTZ’s Carolinas Capital Markets group arranged construction financing on behalf of Durlach Associates. The design team includes architect LS3P Architects and general contractor Choate Construction. Trinity Capital and Durlach are planning to break ground in late July, with construction set for an April 2016 completion.

June 11, 2015

Florida Multifamily Southeast

Alliance Residential Breaks Ground on New Apartment Community in Fort Lauderdale

by John Nelson June 11, 2015

FORT LAUDERDALE, FLA. — Alliance Residential has begun construction on Broadstone Harbor Beach, a 349-unit apartment community located on a four-acre lot off of 17th Street in Fort Lauderdale. Upon completion in the first quarter of 2017, the apartment community will feature three courtyards, a resort-style swimming pool with cabanas, a pool pavilion with billiards, putting green, bocce ball, clubroom, demonstration kitchen, fitness center and a movie theater. The multifamily property will also offer immediate access to Fort Lauderdale’s entertainment district, the Intracoastal Waterway and the Atlantic Ocean. In early March, Berger Commercial Realty brokered the $22.1 million land sale for the site of Broadstone Harbor Beach.

June 11, 2015

Multifamily Southeast Virginia

ARA Newmark Brokers Sale of Luxury Apartment Community in Virginia

by John Nelson June 11, 2015

HERNDON, VA. — ARA Newmark has brokered the sale of Monroe Place, a 202-unit mid-rise apartment community located in Herndon. Constructed in 2008, the property was 96 percent occupied at the time of sale. Monroe Place is situated within the main square of the Woodland Park Crossing lifestyle center, which features 124,000 square feet of retail and office space. Drew White and Ryan Ogden of ARA Newmark represented the seller, an institutional investor advised by J.P. Morgan Asset Management, in the transaction. The buyer, Washington, D.C.-based Dweck Properties, purchased the asset for an undisclosed price.

June 11, 2015

Industrial Maryland Southeast

CBRE Arranges 122,044 SF Industrial Lease in Metro Baltimore

by John Nelson June 11, 2015

COLUMBIA, MD. — CBRE has arranged a lease on behalf of Deutsche Asset & Wealth Management for 122,044 square feet at Gateway Commerce Center in Columbia, a suburb of Baltimore. The property is situated near I-95, Baltimore/Washington International Thurgood Marshall Airport and Columbia Town Center. National Retail Systems Inc., which includes Keystone Freight Corp. and National Retail Transportation Inc., will utilize the property at 8700 Robert Fulton Drive to provide logistics support for T.J. Maxx. Built in 1971 and remodeled in 1997, Gateway Commerce Center spans more than 48.7 acres with a total of 700,945 square feet and features dock and drive-in loading, an ESFR sprinkler system and 28- to 50-foot clear heights. John Wilhide and Ed Harris of CBRE represented the landlord in the lease transaction.

June 11, 2015

Georgia Industrial Southeast

Colliers Brokers Sales of Two Industrial Assets in Metro Atlanta Totaling $42.1M

by John Nelson June 10, 2015

ATLANTA — Colliers International has brokered the sale of two industrial assets in metro Atlanta totaling 1.2 million square feet for a combined $42.1 million. Dennis Mitchell and Matt Wirth of Colliers International’s Atlanta office represented the seller, DCT Industrial, in both transactions. The properties included Eagles Landing Trade Center III, a 505,000-square-foot distribution building located at 301 Eagles Landing Parkway in Stockbridge that sold for $21 million, and a five-building industrial portfolio totaling 712,763 square feet in Atlanta’s I-20 West/Fulton industrial submarket that sold for $21.1 million.

June 10, 2015

Retail Southeast Virginia

Wheeler REIT Purchases Shopping Center in Richmond for $18.5M

by John Nelson June 10, 2015

RICHMOND, VA. — Wheeler Real Estate Investment Trust Inc. (Wheeler REIT) has purchased Brook Run Shopping Center, a 147,738-square-foot shopping center located in Richmond. Wheeler REIT acquired the asset for roughly $18.5 million from an undisclosed affiliate. Built in 1990, the property was 91.2 percent leased at the time of sale to tenants such as Martin’s Food Market, CVS/pharmacy, Crunch Fitness, Hair Cuttery and H&R Block. Wheeler REIT funded the purchase using proceeds from a recent financing, debt and issuance of operating partnership units.

June 10, 2015

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