Southeast

Marcus & Millichap Brokers $5.8M Sale of Shopping Center in Mobile

by John Nelson December 19, 2014

MOBILE, ALA. — Marcus & Millichap has brokered the $5.8 million sale of Vigouroux Marketplace, a 66,125-square-foot shopping center anchored by Winn Dixie and Rite Aid. The shopping center is located at 9948 Airport Blvd. in Mobile. Built in 1997, the asset was 92 percent leased at the time of sale. Andrew Chason of Marcus & Millichap’s Mobile office represented the seller, a Mobile-based limited liability company, in the transaction. Jason Cropper of Marcus & Millichap’s Little Rock office represented the buyer, a New York-based private investment group.

December 19, 2014

Florida Southeast

Amsdell Cos. Acquires Self Storage Facility in Fernandina Beach

by John Nelson December 19, 2014

FERNANDINA, FLA. — A member of Amsdell Cos., Compass Self Storage, has purchased a Class A self storage property located at 2641 Bailey Road in Fernandina Beach. Compass will operate the 68,000-square-foot facility upon closing. The self storage center features indoor climate controlled units, digital surveillance, electronic access and truck rental. The facility will be the 14th self storage property for Compass in Florida and the 12th that the company has opened in 2014.

December 19, 2014

Industrial South Carolina Southeast

Norvell Brokers $1.5M Sale of Flex Property in North Charleston

by John Nelson December 19, 2014

NORTH CHARLESTON, S.C. — Norvell Real Estate Group LLC has brokered the $1.5 million sale of an 18,500-square-foot office/warehouse building, located at 3445 Buffalo Ave. in North Charleston. The property is fully leased to HD Supply. Drayton Calmes of Norvell represented the buyer, Marshall Bridge Capital LLC, in the transaction. Charlie Moore of Carolina Commercial represented the seller.

December 19, 2014

Florida Hospitality Southeast

Swire Tops Off EAST, Miami Hotel in $1.05B Brickell City Centre Project

by John Nelson December 18, 2014

MIAMI — Swire Properties Inc. has topped off the 40-story EAST, Miami hotel, located at 89 S.E. Eighth St. in Miami’s Brickell neighborhood. The property is the first of six buildings to complete vertical construction in Swire’s $1.05 billion Brickell City Centre, a 5.4 million-square-foot mixed-use development. The hotel will feature 263 rooms, as well as 89 apartment units, a signature restaurant, meeting rooms, swimming pool and fitness center. The project team includes Americaribe and John Moriarty & Associates. EAST, Miami is slated to open in winter 2015.

December 18, 2014

Loans South Carolina Southeast

Capital Advisors Arranges $17.4M Loan for Two Retail Properties in South Carolina

by John Nelson December 18, 2014

BLUFFTON AND BEAUFORT, S.C. — Capital Advisors has arranged $17.4 million to refinance two retail properties in coastal South Carolina. The properties include Best Buy Center, a 95,041-square-foot retail center leased to Best Buy, Petco and Dollar Tree in Bluffton, and the Crossings at Beaufort, a 19,600-square-foot retail center leased to Jersey Mike’s Subs, Anytime Fitness and Wingstop in Beaufort. Matt Good of Capital Advisors’ Greenville, S.C., office arranged the non-recourse, 10-year loan with a fixed 4.625 percent interest rate and a 30-year amortization schedule. The loan was arranged through Cantor Fitzgerald, a CMBS lender, on behalf of the borrower, BC 170 LLC.

December 18, 2014

Multifamily North Carolina Southeast

Capstone Brokers $14.8M Sale of Apartment Community in Durham

by John Nelson December 18, 2014

DURHAM, N.C. — Capstone Apartment Partners has brokered the $14.8 million sale of Foxfire Apartments, a 354-unit multifamily community in Durham. Built in 1973, the asset was 93 percent occupied at the time of sale. Andrew Klenk and John Ackiss of Capstone’s Raleigh-Durham office, along with Brian Ford and Beau McIntosh of the firm’s Charlotte office, represented the seller, VTT Management Inc., in the transaction. The buyer, Lexerd Capital Management, purchased the property for roughly $41,667 per unit.

December 18, 2014

Georgia Retail Southeast

Ackerman & Co., Meddin Co. Broker Sale of Atlanta Retail Property for $11M

by John Nelson December 18, 2014

ATLANTA — Ackerman & Co., in partnership with The Meddin Co., has brokered the $11 million sale of Glenwood Park Retail in Atlanta. The seven-building, 48,515-square-foot property was more than 83 percent occupied at the time of sale to tenants such as Gunshow, Vickery’s and The Shed. Shea Meddin of Ackerman & Co., along with Stuart Meddin of The Meddin Co., represented the seller, Glenwood Park Builder LLC. The buyer was Coro Realty Advisors LLC.

December 18, 2014

North Carolina Office Southeast

Insite Properties Brokers Sale of Office Building in Raleigh

by John Nelson December 18, 2014

RALEIGH, N.C. — Insite Properties has brokered the sale of a 37,000-square-foot office building located at 5811 Glenwood Ave. in Raleigh. Built in 2000, the three-story office building was fully occupied by three tenants at the time of sale. Ben Kilgore and Jeff Glenn of CBRE | Raleigh, along with Ashton Williamson of CBRE | Hampton Roads, represented the seller, EOR-5811 Glenwood Avenue LLC. Insite Properties represented the buyer, an unnamed investment brokerage client, in the transaction.

December 18, 2014

Louisiana Mixed-Use Southeast

KTGY Group, JTS to Develop Alamo Drafthouse-Anchored Project in Baton Rouge

by John Nelson December 17, 2014

BATON ROUGE, LA. — KTGY Group Inc. and Baton Rouge-based JTS are planning to develop Rouzan Village in Baton Rouge. The project will feature 80,000 square feet of retail space anchored by a 33,000-square-foot Alamo Drafthouse Cinema and up to 220 residential units including live/work studios. Rouzan Village will be the commercial and retail center of Rouzan, a 120-acre master-planned development in Baton Rouge’s Southdowns neighborhood near the intersection of Perkins Road and Glasgow Avenue. Two parking structures and street parking will provide parking for roughly 900 cars. The theater is expected to begin construction next year and open in mid-2016. Rouzan Village’s residential component is expected to break ground in mid-2015 and take approximately 14-18 months to complete.

December 17, 2014

Georgia Multifamily Southeast

Berkshire Group Buys Crescent Terminus in Atlanta’s Buckhead Neighborhood

by John Nelson December 17, 2014

ATLANTA — An affiliate of Boston-based Berkshire Group has purchased Crescent Terminus Community, a luxury apartment community in Atlanta’s Buckhead neighborhood, from Crescent Communities for an undisclosed price. The 355-unit is a three-building complex that features two rooftop terraces with an outdoor fireplace and TV, saltwater resort-style swimming pool, outdoor kitchen, tech lounge with Mac stations, wireless printing and a coffee bar. Crescent Terminus is part of a nine-property portfolio totaling 2,667 units that sold for a gross purchase price approaching $700 million. The portfolio’s purchasers were UBS and an affiliate of the Berkshire Group.

December 17, 2014

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