Southeast

Domain at Oxford University of Mississippi

OXFORD, MISS. — Asset Campus Housing (ACH) has begun construction on Domain at Oxford, an off-campus student housing community in Oxford that will serve University of Mississippi students. The leasing center will open this fall, and the community will open for residents in fall 2016. Domain at Oxford will be a gated 216-unit property with 642 beds located within one mile of the University of Mississippi. The community will provide students with floor plan options including one-, two-, and four-bedroom apartments and townhomes. Every fully furnished apartment will come standard with hardwood-style floors, granite countertops, flat-screen TVs, stainless steel appliances, private bathrooms, full-size washer and dryer and other features. Domain at Oxford will feature an 11,000-square-foot clubhouse, a resort-style pool, Internet café, outdoor fire pit, sand volleyball, poolside hammock lounge area, video gaming center, complimentary tanning, group fitness studio, 24-hour gym and multiple private group study rooms.

FacebookTwitterLinkedinEmail
Walmart Neighborhood Market Tamarac Florida

TAMARAC, FLA. — Wal-Mart Stores Inc. has opened a new 41,500-square-foot Walmart Neighborhood Market in Tamarac. The store, which will be open 24/7, is located at 6931 N.W. 88th Ave. The new store is expected to create roughly 95 full- and part-time jobs and features a drive-thru pharmacy and a pickup counter for items ordered online. Wal-Mart Stores had more than $473 billion in sales in fiscal year 2014 in its 11,202 stores and online. The company employs more than 2 million associates worldwide.

FacebookTwitterLinkedinEmail
Butler Square Mauldin South Carolina

MAULDIN, S.C. — Wheeler Real Estate Investment Trust Inc. (Wheeler REIT) has entered into a contract to acquire Butler Square, an 82,400-square-foot shopping center located in Mauldin, part of the Greenville metropolitan area. The company will purchase the fully leased retail center for $9.4 million, or roughly $114 per square foot, using a combination of cash and bank-provided debt. Built in 1987 and renovated in 2011, Butler Square’s tenant roster includes Bi-Lo, Dollar Tree, Cato Fashions and Sally Beauty Supplies.

FacebookTwitterLinkedinEmail

ORLANDO, FLA. — Sean Glickman of Coldwell Banker Commercial NRT and founder of the Glickman Retail Group has brokered the $9.3 million sale of Colonial Town Center in Orlando. The shopping center was 90 percent leased at the time of sale to tenants such as HH Gregg, Mattress One and Interamerican Medical Centers. The asset is shadow-anchored by a Walmart Neighborhood Market and Sam’s Club. Glickman Retail Group represented the undisclosed seller in the transaction. The buyer was an international company.

FacebookTwitterLinkedinEmail

CHARLOTTE, N.C. — CBRE has brokered the sale of the Time Warner Cable Building in Charlotte’s I-77 submarket for an undisclosed sales price. The 113,600-square-foot building is fully occupied by Time Warner Cable and serves as a call center, office and operations facility. Patrick Gildea led CBRE’s Charlotte team in brokering the transaction.

FacebookTwitterLinkedinEmail
777 Brickell Avenue Miami

MIAMI — CBRE has brokered the $140 million sale of 777 Brickell Ave., a 288,485-square-foot office tower located in Miami’s Brickell neighborhood at the intersection of Brickell Avenue and S.E. 8th Street. The 13-story asset also features an adjacent five-story parking garage. An unnamed private investment group from South America purchased the waterfront office tower from an institutional investor advised by CBRE Global Investors. The office building is currently 93 percent leased to 29 tenants. Christian Lee, Charles Foschini, Christopher Apone, Amy Julian and Jose Lobon of CBRE Capital Markets represented the seller in the transaction. Brian Gale and Andrew Trench of Taylor & Mathis helped the CBRE Capital Markets team market 777 Brickell Ave.

FacebookTwitterLinkedinEmail
Six Sixteen Oberlin Raleigh

RALEIGH, N.C. — Wood Partners LLC will soon begin development on Six Sixteen, a $40 million, 207-unit luxury apartment community located at 616 Oberlin Road in Raleigh. The asset will be located on the site of a vacant office building next door to Cameron Village Shopping Center. Wood Partners’ property management division, Wood Residential Services, will manage the community. The property will begin leasing in May 2016 with completion set for November 2017. JDavis Architects designed the community to wrap around a central courtyard that will feature a swimming pool, bocce ball courts, barbecue areas and an outdoor TV-viewing lounge. Other amenities will include an indoor TV lounge, billiards lounge, poker and wine-tasting room, fitness center, bike repair/maintenance room, dog-grooming room, parking garage, rooftop clubroom/patio and indoor storage units. Jim Anthony of Colliers International brokered the land sale for the site of Six Sixteen.

FacebookTwitterLinkedinEmail
Fountains Germantown Nashville

NASHVILLE, TENN. — Proffitt Dixon Partners will soon begin construction on Fountains Germantown, a 249-unit luxury apartment community located at 1407 Third Ave. North in Nashville’s Germantown neighborhood. The multifamily developer will break ground on Feb. 26 with an estimated completion date set for summer 2016. Nashville-based Smith Gee Studio designed the five-story community to standards set by the National Association of Home Builder’s Green Building Program. HFF arranged construction financing through Synovus Bank on behalf of Proffitt Dixon. The project team includes general contractor Doster Construction Co., management firm Matrix Residential and landscape architects Land Design and Civil Site. Civil Site is also the project’s civil engineer.

FacebookTwitterLinkedinEmail
Bay Park Florida RADCO City Park Clearwater

CLEARWATER, FLA. — The RADCO Cos. has purchased the 228-unit Bay Park Apartments in Clearwater for $29.6 million. This is the first transaction for the Atlanta-based multifamily investor in 2015, as well as the company’s first asset in Florida. RADCO financed the acquisition with a mixture of private capital and Freddie Mac financing arranged by Walker & Dunlop. Constructed in 1990 by Atlanta-based REIT Post Property, the apartment units average 1,010 square feet and the property’s amenities include a pool, putting green, dog park, lake, tennis courts, movie theater, meeting rooms and a fitness center. RADCO plans to invest $2.1 million to upgrade the complex, which will be rebranded as City Park Clearwater.

FacebookTwitterLinkedinEmail
Vero Beach Physicians Building Florida

VERO BEACH, FLA. — Bauman & Co., a commercial real estate owner and operator based in Atlanta, has purchased the Vero Beach Physicians Building for an undisclosed price. The seller was an unnamed real estate investment trust (REIT). The two-story, 40,000-square-foot medical office building is located on the campus of the 335-bed Indian River Medical Center in Vero Beach. The Class A asset is fully leased to independent medical practice groups and physicians. Bauman & Co. investors and GE Capital Healthcare Financial Services provided funding for the transaction.

FacebookTwitterLinkedinEmail