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

Florida Retail Southeast

Marcus & Millichap Brokers $9.8M Sale of Shopping Center in Coral Springs

by John Nelson June 10, 2015

CORAL SPRINGS, FLA. — Marcus & Millichap has brokered the $9.8 million sale of Sample Row, a 90,552-square-foot retail property located at 7355 W. Sample Road in Coral Springs. Built in 2001, Sample Row comprises three one-story buildings housing home goods stores, medical providers and DaVita Dialysis. Douglas Mandel, Barry Wolfe and Alan Lipsky of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private investor based in Miami Beach. The buyer was a limited liability company based in North Miami.

June 10, 2015

Alabama Multifamily Southeast

Rock Apartment Advisors Brokers $3.1M Sale of Apartment Community in Alabama

by John Nelson June 10, 2015

HOMEWOOD, ALA. — Rock Apartment Advisors has brokered the $3.1 million sale of Oxmoor Ridge Apartments, a 96-unit multifamily community located in Homewood. Sanders RH LLC and Highland Homewood Investments LLC purchased the asset from New Lexington Properties II LLC. Justin Uffinger of Rock Apartment Advisors brokered the transaction.

June 10, 2015

Loans Multifamily North Carolina South Carolina Southeast

Capital One Closes $53.4M Refinancing of Four Apartment Communities in the Carolinas

by John Nelson June 9, 2015

NEW YORK — Capital One has provided four loans totaling $53.4 million for the refinancing of four apartment communities in North Carolina and South Carolina. Capital One provided the loans to Brookfield Strategic Real Estate Partners Fund, which used the loans to repay existing CMBS debt on the properties, according to Capital One. The refinanced assets in North Carolina include the 252-unit Chason Ridge in Fayetteville and the 194-unit Bridges at Mallard Creek in Charlotte. Brookfield received loans of $9.5 million and $11.1 million, respectively, for those assets. In South Carolina, the refinanced properties include the 240-unit Waverly Place in North Charleston and the 232-unit Paces Watch in Mount Pleasant. Brookfield received loans for $12.7 million and $20.6 million, respectively.

June 9, 2015

Alabama Loans Retail Southeast

Merchants Retail Partners Closes $50M Refinancing of Target-Anchored Center in Alabama

by John Nelson June 9, 2015

ALABASTER, ALA. — Birmingham-based Merchants Retail Partners has closed the $50 million refinancing of Alabaster Promenade, a Target-anchored shopping center in Alabaster. Located along I-65, the 450,000-square-foot property opened in 2007 and underwent renovations in 2014 to accommodate a new Dick’s Sporting Goods store. The other tenants that will join the shopping center this year include ULTA Beauty and Verizon Wireless. Merchants Retail Partners closed the loan on behalf of its unnamed investment partner.

June 9, 2015

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