Southeast

Berkadia Arranges $25.2M Sale of Apartment Community in South Georgia

by John Nelson March 21, 2016

HINESVILLE, GA. — Berkadia has brokered the $25.2 million sale of Tattersall Village, a 222-unit upscale apartment community located in Hinesville, roughly one hour southwest of Savannah. Built in 2010, Tattersall Village is a garden-style community with an average unit size of 1,110 square feet. Pillar Income Asset Management Inc. purchased the property from BF/EBSCO Hinesville LLC. David Oakley, David Etchison, Mark Boyce, Paul Vetter and Andrew Mays of Berkadia represented the seller in the transaction.

March 21, 2016

Maryland Retail Southeast

Foundry Row in Maryland to Add 11 New Retailers, Restaurants

by John Nelson March 21, 2016

OWINGS MILLS, MD. — Greenberg Gibbons and Vanguard have announced 11 new tenants set to open at Foundry Row, a $140 million mixed-use development in Owings Mills. New tenants include Bar Louie, Mission BBQ, La-Z-Boy, Foundry Row Wine & Spirits, Xfinity, Massage Envy, Sleep Number, Mani Luxe, Chipotle, Hair Cuttery and Floyd’s 99 Barbershop. Foundry Row is currently 88 percent leased and is set to open in the fall. The new tenants will join a mix of previously announced retailers and restaurants such as a 130,000-square-foot Wegmans, LA Fitness, DSW, Ulta Beauty, Bagby Pizza, Panera Bread, Zoe’s Kitchen, Smashburger, Nally Fresh and LifeBridge Health.

March 21, 2016

Industrial South Carolina Southeast

Colliers Brokers $4.8M Sale of 131,535 SF Industrial Facility in South Carolina

by John Nelson March 21, 2016

SUMMERVILLE, S.C. — Colliers International has brokered the $4.8 million sale of a 131,535-square-foot industrial facility located at 211 Farmington Drive in Summerville. Hagood Morrison and Hagood S. Morrison of Colliers International’s Charleston office represented the seller, The W.W. Williams Co., a national industrial equipment sales and service company. The unnamed buyer is currently renovating the property and will offer it to lease as soon as construction is completed. The property features five acres of undeveloped land suitable for a build-to-suit project.

March 21, 2016

Multifamily Southeast Virginia

Passco Cos. Acquires The Shelby in Metro D.C. for $69.5M

by John Nelson March 18, 2016

ALEXANDRIA, VA. — Passco Cos. LLC has purchased The Shelby, a 240-unit, Class A apartment community located at 6200 N. Kings Highway in Alexandria, for $69.5 million. Built in 2014, the property features 100 pieces of original art from more than 40 locally commissioned artists. A little more than 57 percent of The Shelby’s current residents are under the age of 30, according to Passco Cos. Chris Black of KeyBank Real Estate Capital arranged acquisition financing through Fannie Mae on behalf of Passco. Ryan Ogden of ARA Newmark represented both Passco and the seller, Insight Properties.

March 18, 2016

Multifamily North Carolina Southeast

Multi Housing Advisors Brokers $47M Sale of Apartment Complex in Metro Charlotte

by John Nelson March 18, 2016

CONCORD, N.C. — Multi Housing Advisors (MHA) has brokered the $47 million sale of Afton Ridge, a 360-unit apartment community located in Concord, a northern suburb of Charlotte. Built in 2014 and 2015, the complex features a resort-style swimming pool, fitness center, stainless steel appliances and granite countertops. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the seller, Afton Ridge Apartments, in the transaction. The buyer was undisclosed.

March 18, 2016

Florida Retail Southeast

Codina Partners Signs Publix to Anchor Downtown Doral in Metro Miami

by John Nelson March 18, 2016

DORAL, FLA. — Codina Partners has signed a lease with Publix Super Markets to anchor Downtown Doral, a live/work/play/learn development under construction in downtown Doral, a suburb of Miami. The Publix will be located on N.W. 53rd Terrace and serve as the development’s sole grocer. Downtown Doral will also feature 70 retail stores and restaurants, 400,000 square feet of office space, 2,840 residential units, a charter elementary school and public green spaces. Construction on the Publix is expected to begin in September 2016 with an expected December 2017 opening.

March 18, 2016

Affordable Housing Florida Multifamily Southeast

Marcus & Millichap Brokers $26.2M Sale of Affordable Housing Complex in Central Florida

by John Nelson March 18, 2016

KISSIMMEE, FLA. — Marcus & Millichap has brokered the $26.2 million sale of Grande Court at Boggy Creek, a 394-unit apartment community located at 1401 Grande Blvd. in Kissimmee. The low income housing tax credit community features one-, two- and three-bedroom apartments with open kitchens, optional washer and dryer units, defined desk and computer areas, ceiling fans, walk-in closets and extra storage space. Community amenities include a clubhouse, swimming pool, wading pool, fitness center, business center, car care center, a playground and a barbecue and picnic area. Even Kristol of Marcus & Millichap’s Fort Lauderdale office and Still Hunter III of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Courtelis Development Co., and procured the buyer, Hercules Real Estate Service Inc.

March 18, 2016

Healthcare North Carolina Southeast

Crosland Southeast, Childress Klein Sign Horizon Eye Care to Lease in Waverly Development

by John Nelson March 18, 2016

CHARLOTTE, N.C. — Crosland Southeast and Childress Klein have signed Horizon Eye Care to an 8,300-square-foot lease at Waverly, a 90-acre master-planned development in Charlotte. The eye care provider will occupy space in a 22,000-square-foot medical office building located at 11835 Southmore Drive near the intersection of Providence Road and Providence Country Club Drive. The property will be located next to Novant Health’s urgent care and family healthcare practices. Construction began in February on new the medical office building. Travis Hart and Jenny Fowler of Childress Klein represented the ownership group in the lease transaction.

March 18, 2016

Mixed-Use Southeast Virginia

Shooshan Co., Brandywine Realty Trust to Build Mixed-Use High-Rise in Metro D.C.

by John Nelson March 17, 2016

BALLSTON, VA. — The Shooshan Co. and Brandywine Realty Trust plan to build a 22-story mixed-use high-rise project for the final portion of their Liberty Center development at 4040 Wilson Blvd. in Ballston, roughly six miles west of Washington, D.C. The first two floors will house retail space (34,000 square feet), the next eight floors will comprise office space (190,000 square feet) and the top 12 floors will feature 245 residential units. Both the office and residential components will have separate roof terraces. VIDA Fitness has signed a letter of intent to occupy 30,000 square feet at the site between the second floor and the B1 level. Shooshan has already built out the five-level, below-grade parking garage at the site that features 550 car spaces. Liberty Center is a 2.3 million-square-foot, eight-property development within walking distance of the Ballston Metro. At full build-out the development is expected to house 5,000 people.

March 17, 2016

Hospitality Southeast Tennessee

Marcus & Millichap Brokers $58M Sale of Hampton Inn in Downtown Nashville

by John Nelson March 17, 2016

NASHVILLE, TENN. — Marcus & Millichap has brokered the $58 million sale of the 154-room Hampton Inn & Suites located at 310 4th Ave. S. in downtown Nashville. The hotel is situated across the street from the new Music City Center, two miles from Vanderbilt University and eight miles from the Nashville International Airport. Opened in 2007, the hotel features a breakfast buffet, wireless Internet access, fitness center, indoor pool and 2,500 square feet of meeting and event space. Georgia Krewson and Wes Tiner of Marcus & Millichap’s National Hospitality Group (NHG), along with Scott Franco, Zach Moore and Kelley Deibler of Marcus & Millichap’s Nashville office, represented the seller, MR Hotels LLC, in the transaction.

March 17, 2016

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