HENDERSONVILLE, TENN. — Carolina Holdings Inc. has partnered with Atlanta-based Branch Properties LLC to develop Merchant Pointe at Indian Lake, a new 140,000-square-foot retail center located in Hendersonville, part of the Nashville metro area. The asset is located on 18 acres at Indian Lake Boulevard and North Anderson Lane. The property will have four anchor tenants, including The Fresh Market, Off Broadway, an unnamed fashion department store and an unnamed fourth anchor. According to Carolina Holdings, the four anchors are new to the market. The project team includes architect H. Michael Hindman Architects, civil engineer Ragan-Smith Associates and general contractor Harper Corp. BB&T is providing construction financing.
COLUMBIA, S.C. — Arnold Cos. has redevelopment plans for 700 and 800 Gervais St. in Columbia. The retail and entertainment complex is currently home to Tsunami, Rocket Man Piano Bar, Wet Willies and Jillian’s. Arnold Cos. plans to rebrand the complex as West End Alley and connect the complex with a new alleyway, as well as upgrade the façade, upgrade the lighting and add covered outdoor seating in the new alleyway. Arnold Cos. will also bring two new tenants to the complex: Atlanta-based Mexican chain Tin Lizzy’s and City Bar and Fondue. The two restaurants are slated to open in mid-2015. Once a Train Depot building and warehouse, the complex spans 94,000 square feet and features a 478-space parking lot wrapping around the perimeter of the complex. Arnold Cos.’s redevelopment of 700 and 800 Gervais St. will begin in the second quarter of this year.
WASHINGTON, D.C. — The Greysteel Co. has arranged $21.5 million to refinance a three-property, 193-unit multifamily portfolio located in Washington, D.C.’s Capitol Hill East neighborhood. Mark Bittenbender, Matthew Schwartz, Ari Firoozabadi and Paul Pierre of Greysteel arranged the loan through a conduit lender on behalf of the borrower, Capitol East Partners.
WASHINGTON, D.C. — Brookfield Property Partners LP has signed law firm Bracewell & Giuliani LLP to a 50,000-square-foot lease at 2001 M St. N.W., an office building currently under construction in Washington, D.C. The trophy office asset is slated to be delivered in spring 2016 and will feature a two-story lobby, rooftop terrace and a fitness center. The law firm is 2001 M. St.’s first major tenant, according to Brookfield. Tim Relyea, Malcolm Marshall and Sherry Cushman of Cushman & Wakefield represented the law firm in the lease transaction. David Bevirt, Cy Kouhestani and Melanie Stehmer-Townsend were Brookfield’s internal representatives in the lease deal.
WASHINGTON, D.C. — Fundrise has announced that the first-ever crowdfunded real estate project has opened in Washington, D.C.’s H Street Corridor. The project is known as Maketto, a communal food and retail market located at 1351 H St. N.E. The property will include a new restaurant from chef Erik Bruner-Yang of Toki Underground in D.C.; a DURKL retail store; gourmet coffee shop; bakery; and outdoor vendor stalls. Fundrise raised $325,000 from 175 individual, unaccredited investors who invested anywhere from $100 to $10,000 into the project. Maketto was not only Fundrise’s first offering when the platform launched in 2012, but the first real estate project in the country to allow investment from individuals online. Since its founding, Fundrise has activated more than 50,000 investors for real estate projects in top markets around the country, including landmark developments such as 3 World Trade Center in Manhattan. For a video on the Maketto project, click here.
MIAMI — Crocker Partners has completed a $15 million makeover of its 31-story SunTrust International Center, a 449,000-square-foot office tower in Miami’s central business district (CBD). The renovation includes a redesigned lobby and streetscape, 4,000-square-foot bayview sky terrace, complimentary tenant fitness center and a new conference facility. The renovation also includes 20,000 square feet devoted to fully finished office suites for companies new to the market and for growing start-ups. The building is LEED Silver-certified, has 11 high-speed elevators and on-site amenities including a restaurant, pharmacy and banking. Among recent leasing activity at SunTrust Center, the Daily Business Review, Marcum LLP, US Legal and BastAmron recently renewed and/or expanded their leases along with several other long-time tenants totaling approximately 72,000 square feet. SunTrust Center will have the largest contiguous block of space available in the CBD — 116,000 square feet — when Akerman LLP vacates later this year. Jon Blunk, Cristina Glaria and Laurel Oswald of Cushman & Wakefield are the leasing agents for the office tower.
HEBRON AND WILDER, KY. — NorthMarq Capital has arranged the refinancing of two properties in Hebron and Wilder totaling $18.1 million. The properties include Shoppes at Worldwide Park in Hebron and Aspen Pines Apartments in Wilder. Shoppes at Worldwide Park is a 13,174-square-foot unanchored retail property located at 2010 N. Bend Road. Aspen Pines is a 245-unit Class A apartment community located at 1700 Aspen Pines Drive. Susan Branscome of NorthMarq’s Cincinnati office arranged the $16.8 million loan for Aspen Pines through PPM and the $1.3 million loan for Shoppes at Worldwide Park through Symetra.
ROSWELL, GA. — Crossman & Co. has brokered the $8.6 million sale of Market Center, an 82,225-square-foot shopping center located on Holcomb Bridge Road in Roswell, a suburb of Atlanta. The Office Depot-anchored center was built in 1990 and was 56 percent leased at the time of sale. Brian Carolan and John Zielinski of Crossman & Co. represented the institutional seller in the transaction. The buyer was an unnamed investment fund.
TAMPA, FLA. — ANDA Global Co. Ltd. has partnered with Fairlead Commercial Real Estate to purchase Sabal VI, a two-story, 97,527-square-foot office building located at 3611 Queen Palm Drive in Tampa. The partnership purchased the Class A asset for an undisclosed price with equity from ANDA Global and Fairlead’s investment fund, Mandalay-FCRE Fund I. Dale Peterson, Courtney Decker and Donald Jennewein of CBRE represented the undisclosed seller in the transaction. The asset was fully leased at the time of sale. ANDA Global is an affiliate of South Korea-based ANDA Asset Management Co. Ltd.
CHARLOTTE, N.C. — Crescent Communities has broken ground on Air Park West Three, a 209,000-square-foot industrial building in the AirPark West industrial facility in northwest Charlotte. Merriman Schmitt Architects designed the property to achieve LEED certification and feature 32-foot clear heights, an ESFR sprinkler system, 60 mil TPO roof, 46 insulated overhead doors and two drive-in doors. The Class A front-loading building will be 200 feet deep. General contractor Myers & Chapman expects to complete the facility in September. AirPark West is located at I-85 and Sam Wilson Road and offers close proximity to I-485, Charlotte Douglas International Airport and the Charlotte Regional Intermodal Facility. The park features two fully leased industrial buildings, also developed by Crescent, that total 276,000 square feet.