Southeast

Enterprise Homes Breaks Ground on $22.3M Apartment Community in Downtown Baltimore

by John Nelson July 29, 2015

BALTIMORE — Enterprise Homes has begun construction on Mulberry at Park Apartments, a new $22.3 million apartment community located within the Bromo Tower Arts & Entertainment district in downtown Baltimore. The property will feature 34 one-bedroom, 27 two-bedroom and seven three-bedroom residences. Rents will range from $773 to $1,155 monthly. Upon completion, the apartment community will feature a cyber café, study room, fitness center and an outdoor terrace. Marks, Thomas Architects designed the community to meet Enterprise Green Communities Criteria and LEED Silver standards. The groundbreaking ceremony was attended by Baltimore City Mayor Stephanie Rawlings-Blake, Bank of America, representatives from HUD, city and state officials and local economic development corporations. The project was financed with $15.8 million in construction financing, tax credit equity and permanent financing from Bank of America, as well as $1.5 million from the State of Maryland Department of Housing and Community Development and $870,000 from Baltimore City.

July 29, 2015

Georgia Retail Southeast

Franklin Street Brokers Sale of Shopping Center in Athens

by John Nelson July 29, 2015

ATHENS, GA. — Franklin Street Real Estate Services has brokered the sale of Athens Plaza, a 119,633-square-foot shopping center located at 474 North Ave. in Athens. Built in 1972, the property is anchored by a Piggly Wiggly. Mac McCall, John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, MB REO-GA RETAIL LLC, in the transaction. Cideco Development Co. Inc. purchased the property for an undisclosed price.

July 29, 2015

Florida Hospitality Southeast

Auction.com, HREC Arrange $87M Sale of Hotel Portfolio

by John Nelson July 28, 2015

ORLANDO, FLA. — Auction.com LLC and HREC Investment Advisors have arranged the $87 million sale of a five-property hotel portfolio in Florida, New Jersey and Illinois. The seller was Orlando, Fla.-based Alena Hospitality. The transactions included the $30.1 million sale of the 246-room DoubleTree Orlando East at 12125 High Tech Ave. in Orlando; the $27.9 million sale of a 246-room hotel at 12490 Apopka Vineland Road in Orlando; the $12.6 million sale of a 290-room hotel at 400 W. Livingston St. in downtown Orlando; the $10.5 million sale of a 148-room hotel at 50 Kenny Place in Saddle Brook, N.J.; and the $5.8 million sale of a 272-room hotel at 500 Hamilton Blvd. in Peoria, Ill.

July 28, 2015

Florida Multifamily Southeast

Franklin Street Brokers $5.6M Sale of Apartment Community in Tampa

by John Nelson July 28, 2015

TAMPA, FLA. — Franklin Street Real Estate Services has brokered the $5.6 million sale of Arbor Alley Apartments, an 80-unit garden-style apartment community located in South Tampa. Constructed in 1984, the property comprises two-bedroom/one-bath units with washer and dryer hookups. Robert Goldfinger, Darron Kattan, Kevin Kelleher and Zachary Ames of Franklin Street represented both the seller, a private partnership based out of Tampa, and the buyer, South Tampa Apartments LLC, an institutional real estate firm based out of Michigan.

July 28, 2015

Florida Retail Southeast

Colliers International Brokers $2.3M Sale of Retail Strip Center in Southwest Florida

by John Nelson July 28, 2015

CAPE CORAL, FLA. — Colliers International’s Southwest Florida office has brokered the $2.3 million sale of a 19,060-square-foot strip center located at 601 Del Prado Blvd. N. in Cape Coral, roughly nine miles outside of Fort Myers. West Virginia-based D&S Inc. purchased the asset in a 1031 tax-deferred exchange. The property’s tenant roster includes Century 21, Cabinet Depot and Petrucci Pianos. William Mankin of Colliers International Southwest Florida represented the buyer in the transaction. Phil Deems of Phil Deems Real Estate represented the seller, William J. Lader.

July 28, 2015

Office Southeast Tennessee

USGBC Awards Two Office Buildings in Nashville LEED Certification

by John Nelson July 28, 2015

NASHVILLE, TENN. — Dallas-based Gaedeke Group LLC has secured LEED certifications for two of its office buildings in Nashville’s Airport North submarket. The properties include the 12-story, 282,101-square-foot Highland Ridge Tower at 535 Marriott Drive, and the eight-story, 178,639-square-foot Highland Ridge III at 545 Marriott Drive. The U.S. Green Building Council (USGBC) has awarded Highland Ridge Tower LEED Gold certification and Highland Ridge III LEED Silver certification. Both projects are nearly 100 percent occupied and carry Energy Star designations. Gaedeke’s green programs at the properties encompass electronics waste disposal, battery recycling, environmentally friendly cleaning materials, native plantings, low-flow plumbing fixtures and e-friendly office finish-outs. The green initiatives have resulted in 56 percent of Highland Ridge III’s trash being diverted from landfills and 52.5 percent of Highland Ridge Tower’s. The USBCG also recognized Gaedeke’s efforts at keeping at least 25 percent of the site as undisturbed forest.

July 28, 2015

Georgia Mixed-Use Southeast

ULI Atlanta Appoints Cooper Carry’s Kevin Cantley as New Chair

by John Nelson July 28, 2015

ATLANTA — ULI Atlanta has appointed Kevin Cantley, president and CEO of Atlanta architecture firm Cooper Carry, as the next chair of ULI Atlanta — which covers Georgia, Alabama and Eastern Tennessee. Cantley has been a member or the Urban Land Institute (ULI) since 1995. Cantley joined the national architecture firm in 1980 and has directed the design of corporate headquarters, office, residential, transit, retail, educational and mixed-use projects. Cantley has earned many awards for his designs, including the Development of Excellence from the Atlanta District Council of ULI. He is active in ULI’s Transit Oriented Development Council, Livable Communities Council and its Management Committee. “I became aware of ULI in the early 70s, while in college studying architecture. Its mission was compelling to me and aligns with my professional and personal interests,” said Cantley. “Because of its broad and diverse membership, its dedication to responsible use of land, ULI has a positive impact globally and at the community level. I’m honored to be the next chair of the Atlanta district and motivated to contribute to that positive impact.” In addition to his involvement with ULI, Cantley is a member of AIA and NAIOP, for which he chairs its Urban …

July 28, 2015

Georgia Office Southeast

The Brookdale Group Underway on Multimillion Dollar Renovation of Buckhead Office Tower

by John Nelson July 27, 2015

ATLANTA — The Brookdale Group has commenced a multimillion dollar capital improvement program for 3445 Peachtree, a 14-story, 287,000-square-foot office building in Atlanta’s Buckhead submarket. The Atlanta-based private equity firm purchased both 3445 Peachtree and The Pinnacle building next door in January 2015. The renovations to 3445 Peachtree, formerly known as Two Live Oak, include an overhaul to the lobby, modernized elevators, landscaping upgrades, enhanced front and garage entrances and a freshly painted exterior. The lobby upgrades are expected to be finished in October and the remaining renovations will be completed in early 2016. The Brookdale Group has tapped Niles Bolton Associates as the architect for the renovations and Transwestern as the construction manager. DTZ currently provides agency leasing services at the building, and Transwestern provides property management services. Originally built in 1969, 3445 Peachtree is now ENERGY STAR rated and is currently 82 percent leased to 23 national and regional tenants. The property is operated in tandem with The Pinnacle building.

July 27, 2015

Florida Multifamily Southeast

Forum Architecture to Design New Apartment Community in Orlando

by John Nelson July 27, 2015

ORLANDO, FLA. — Forum Architecture & Interior Design Inc. has received a contract to design Oasis at Grande Pines, a 282-unit apartment community located on Westwood Boulevard in Orlando near Sea World. The project team includes developer Picerne Development Corp., structural engineer Structural Concepts & Design and MEP engineer Joseph, Lawrence & Co. The apartment community will feature one-, two- and three-bedroom units within three-story walkup buildings, as well as separate carriage units with direct access garages. The property will also have a 9,600-square-foot clubhouse with a clubroom, game room, theater, fitness center, conference room, business facility and an outdoor porch.

July 27, 2015

Office South Carolina Southeast

Garrison Investment Group Inks Nearly 100,000 SF in Leases in Greenville Office Portfolio

by John Nelson July 27, 2015

GREENVILLE, S.C. — Garrison Investment Group has signed nearly 100,000 square feet of office space to new tenants at its eight-building office portfolio in Greenville. The leases include Ahold leasing 26,000 square feet at 651 Brookfield Parkway; The Gordian Group leasing 21,000 square feet at Patewood 2 in Office Park Patewood; and Real Page leasing 46,400 square feet at Patewood 3. Other new tenants at Patewood include NFP, OB Hospitalist Group, Auto-Owners, Palmetto Security Group and Keyence Corp. of America. The portfolio is managed by Trinity Partners, asset-managed by Trinity Capital Advisors, and leased by CBRE. Charles Gouch, Blaine Hart and Shelby Dodson of CBRE represented Garrison Investment Group in the new lease transactions. Garrison recently completed a $2 million capital improvement program at its portfolio comprising the addition of a fitness center at Office Park Patewood, new signage and lobby upgrades.

July 27, 2015

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