Southeast

Stirling Properties, CBL Add Tenants to Fremaux Town Center in New Orleans Suburb

by John Nelson February 24, 2016

SLIDELL, LA. — Stirling Properties and CBL & Associates Properties Inc. have added four new retailers to Phase II of Fremaux Town Center, a regional shopping and entertainment destination totaling more than 630,000 square feet in Slidell, a suburb of New Orleans. The project is located on more than 80 acres at the southwest corner of I-10 and Fremaux Avenue. The new tenants joining Fremaux this spring include Books-A-Million (7,500 square feet), Allure Nail Spa (1,944 square feet), LensCrafters (3,830 square feet) and 5 Below (8,024 square feet). Additionally, Springs at Fremaux Town Center, a 296-unit apartment complex, is expected to deliver in March. Other previously announced tenants joining this year include Pier 1 Imports, Capital One, Aveda, Goodyear and Chico’s. Tesla Motors has also completed installing eight charging stations at the development. Existing tenants of Phase II include Red Robin, Zales, Francesca’s, Off Broadway Shoe Warehouse, Victoria’s Secret, Buckle, Charlotte Russe, LOFT, Bath & Body Works, Journeys, Claire’s and Which Wich.

February 24, 2016

Loans Mississippi Multifamily Southeast

Capital One Arranges $11.8M Acquisition Loan for Apartment Community in Jackson

by John Nelson February 24, 2016

JACKSON, MISS. — Capital One has provided an $11.8 million, fixed-rate Freddie Mac loan for the acquisition of Tracewood Apartments, a 280-unit apartment community in Jackson. Chad Thomas Hagwood of Capital One Multifamily’s Southeast office arranged the 10-year, fixed-rate loan on behalf of the borrower, StoneRiver Co. Brandon Pate of Capital One’s Birmingham office managed the deal on behalf of Capital One. The loan structure includes two years of interest-only payments followed by a 30-year amortization schedule.

February 24, 2016

Florida Industrial Southeast

CBRE Arranges 144,000 SF Industrial Lease in Florida

by John Nelson February 24, 2016

GROVELAND, FLA. — CBRE has arranged a 144,000-square-foot industrial lease at 19925 Independence Blvd. in Groveland. The space is located within the former Circuit City distribution building that totals 706,500 square feet. David Murphy and Monica Perez Wonus of CBRE represented the landlord, Real Capital Solutions, in the lease transaction. Cameron Maness of Transwestern represented the tenant, Pathmark Transportation.

February 24, 2016

Florida Retail Southeast

Colliers Brokers $4.2M Sale of Retail Center in Fort Myers

by John Nelson February 24, 2016

FORT MYERS, FLA. — Colliers International has brokered the sale of the 20,632-square-foot Shops at Jamaica Bay in Fort Myers. Central Line Properties purchased the center from New York-based Orbis Properties for $4.2 million. The property’s tenant roster includes AT&T, Allstate, Provident Jewelry, Zoom Tan, Rosati’s Pizza and Sports Bar, Merle Norman Cosmetics and Touch Salon. Built in 2007, the shopping center is located at the intersection of Tamiami Trail and Jamaica Bay Boulevard at 15245 Tamiami Trail.

February 24, 2016

Multifamily North Carolina Southeast

Stiles, Grubb Ventures to Develop Apartment Community in Raleigh

by John Nelson February 23, 2016

RALEIGH, N.C. — Stiles Residential Group, a division of Fort Lauderdale, Fla.-based Stiles, and Raleigh-based Grubb Ventures have partnered to develop a new 186-unit mid-rise apartment community in Raleigh. Located at the intersection of Glenwood Avenue and Oberlin Road inside the I-440 Beltline, the Class A project will be situated adjacent to Carolina Country Club and near downtown Raleigh and Cameron Village. Apartment homes in the unnamed property will include studio, one-, two- and three-bedrooms ranging in size from 600 square feet to more than 1,700 square feet. Community amenities will include three resident lounges/clubrooms, a café, resort-style pool and outdoor entertainment area, terrace overlooking the adjacent golf course, fitness center and a landscaped courtyard with seating areas and a bocce ball court. Construction is scheduled to commence in March and first move-ins are anticipated to be in early summer 2017.

February 23, 2016

Retail South Carolina Southeast

Alex. Brown Realty, Lat Purser to Redevelop Shopping Center in Charleston

by John Nelson February 23, 2016

CHARLESTON, S.C. — A joint venture between Alex. Brown Realty Inc. (ABR), a privately owned real estate manager, and Lat Purser Associations Inc., a Charlotte-based investment firm, has purchased Ashley Oaks Plaza, a 58,720-square-foot shopping center in Charleston. The companies plan to redevelop the property, which was 81 percent leased at the time of sale. Built in 1985, the unanchored center is located less than six miles from downtown Charleston in the Ashley River Road retail corridor. ABR Chesapeake Fund V, a value-add real estate fund sponsored by ABR, invested $4 million in the joint venture.

February 23, 2016

Florida Loans Retail Southeast

Integra Real Estate Capital Arranges $21M Refinance of Orlando Shopping Center

by John Nelson February 23, 2016

ORLANDO, FLA. — Integra Real Estate Capital has arranged a $21 million loan for the refinancing of Shoppes at Alafaya, a 122,600-square-foot shopping center in Orlando. Built in 2011, the property is anchored by Toys “R” Us and Dick’s Sporting Goods. Russell Kimyagarov of Integra arranged the 10-year, non-recourse, fixed-rate loan on behalf of the borrower, an ownership group based in Miami.

February 23, 2016

Florida Retail Southeast

Butler Enterprises Signs Tenants to Butler North Shopping Center in Gainesville

by John Nelson February 23, 2016

GAINESVILLE, FLA. — Butler Enterprises has signed Marshalls to a 22,000-square-foot lease and Ashley HomeStore to a 35,000-square-foot lease at Butler North in Gainesville. Both retailers will open their stores in the fall. The 750,000-square-foot shopping center is the latest phase of a 267-acre, 1.8 million-square-foot retail destination that will include Butler North, Butler Plaza and Butler Town Center, which will break ground this spring and open in 2018. In addition to Marshalls and Ashley HomeStore, Butler Enterprises has executed 18,300 square feet of leases with Jimmy John’s, Orangetheory Fitness, Eyeglass Express, Blown Salon, Florida Credit Union, Lee Nails, Jersey Mike’s and SportClips. Existing tenants at Butler North include Lowe’s Home Improvement, Sam’s Club, Walmart Supercenter and Dick’s Sporting Goods.

February 23, 2016

Florida Office Southeast

Akerman LLP Moves Into 110,508 SF Office in Three Brickell City Centre in Miami

by John Nelson February 23, 2016

MIAMI — Akerman LLP, a prominent law firm, has moved into its 110,508-square-foot office space at Three Brickell City Centre in Miami. Akerman’s office space features a conference center that can accommodate up to 300 people, a café, common areas, war rooms and coffee bars. Three Brickell City Centre is the only office building in the Brickell area with a Metromover attached to its structure (Eighth Street Station), and Akerman will be the only law firm in the area with a Metromover station. Three Brickell City Centre is also pre-certified LEED Gold. With more than 600 lawyers and government affairs professionals and a network of 20 offices, Akerman is a transactions and trial law firm with a specialty in middle market M&A within the financial services and real estate industries, as well as a Latin American practice. Located at 98 S.E. 7th St. in Miami’s Brickell financial district, Three Brickell City Centre is part of Swire Properties’ $1.05 billion Brickell City Centre mixed-use development.

February 23, 2016

Retail South Carolina Southeast

Crossman & Co. Brokers Sale of Publix-Anchored Shopping Center in Charleston MSA

by John Nelson February 23, 2016

DANIEL ISLAND, S.C. — Crossman & Co. has brokered the sale of Daniel Island Town Center, a Publix-anchored, 68,688-square-foot shopping center located on Seven Farms Drive in Daniel Island in metro Charleston. The property was 98 percent occupied at the time of sale. Publix Super Markets Inc. purchased the shopping center from an unnamed institutional group based in the Northeast.

February 23, 2016

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