Southeast

Campus Advantage, Pinecrest Partners to Develop Student Housing in Knoxville

by John Nelson April 3, 2015

KNOXVILLE, TENN. — Campus Advantage is currently developing its newest project, The Knox, which will serve students attending the University of Tennessee beginning in fall 2016. Pinecrest Partners is providing equity financing for the 101-unit, 382-bed community. Located at 1505 Clinch Ave., the location puts residents less than 100 feet from the University of Tennessee campus. The Knox will feature three-, four- and five-bedroom apartments. The community consists of two buildings, a five-level building and a six‐level building, and features two levels of gated garage parking and nine floors of residential space. Amenities will include a cyber cafe, computer bar, lounge room with fireplace and large-screen televisions and a fitness center, as well as an outdoor green roof with grills, water features, hammocks and a theater area. Each fully furnished apartment features a 42-inch television in its living room, wood-style flooring in the common areas, an in-unit washer and dryer, high-end finishes, stainless steel appliances and cable and high-speed Internet. Campus Advantage worked closely with the Historic Preservation Office at the city of Knoxville, as well as the Historic Fort Sanders Neighborhood Association, to design The Knox. Ronnie Macejewski, senior vice president of development of Campus Advantage, is leading the …

April 3, 2015

Florida Industrial Southeast

Bristol Group, Butters Acquire 74 Acres in Broward County for 925,000 SF Business Park

by John Nelson April 3, 2015

DEERSFIELD BEACH, FLA. — Bristol Group Inc. and Butters Construction and Development have acquired the former Deerfield Country Club in Deersfield Beach from Gator Development Group LLC. Bristol and Butters will be co-developing a 925,000-square-foot business park at the site known as Hillsboro Technology Center. Plans for the 74-acre campus include a Class A warehouse/distribution center, office space and a limited service hotel. The park will be located adjacent to the four-way interchange of I-95 and Hillsboro Boulevard. Phase I of the park will also include a developer-donated recreation building for the city of Deerfield Beach and a public park with jogging and walking trails. Construction on the development will begin in the second quarter of 2015, and the developers plan to deliver the first two speculative industrial buildings in the first half of 2016. Upon completion in three to five years, Hillsboro Technology Center is expected to host roughly 1,500 permanent jobs, and the project is expected to create roughly 3,500 construction jobs. Tom Viscount and Tom Hotz of Butters Realty & Management have been selected to lease the project.

April 3, 2015

Georgia Seniors Housing Southeast

Seniors Housing Community in Metro Atlanta Breaks Ground

by John Nelson April 3, 2015

ACWORTH, GA. — Construction has begun on Celebration Village Acworth with plans to open the 16.5-acre seniors housing community in May 2016. The community includes 114 independent living apartments, 44 apartment homes, 55 assisted living units and 31 memory care apartments. Active Senior Concepts and AgeWell Living developed the Celebration concept. Active Senior Concepts’s developments are located throughout metro Atlanta. AgeWell, located in Palm Beach Gardens, Fla., will operate the community.

April 3, 2015

Industrial Southeast Virginia

Huntington Ingalls Industries Leases 515,486 SF in Hampton Roads Area

by John Nelson April 3, 2015

HAMPTON, VA. — Huntington Ingalls Industries, a publicly traded shipbuilding company, has leased 515,486 square feet of warehouse space in West Park, a business park located at 300 and 500 W. Park Lane in Hampton. Worth Remick, Ashton Williamson and Chamie Burroughs of CBRE|Hampton Roads represented the owner, Boston-based High Street Equity, in the transaction. Clay Culbreth of Cushman & Wakefield | Thalhimer represented the tenant.

April 3, 2015

Academy Sports + Outdoors and Shops at Turtle Creek

Mississippi Retail Southeast

Marcus & Millichap Brokers $16.8M Sale of Shopping Center in Mississippi

by John Nelson April 3, 2015

HATTIESBURG, MISS. — Marcus & Millichap has brokered the $16.8 million sale of Academy Sports + Outdoors and Shops at Turtle Creek, a 98,673-square-foot shopping center located at 6173-6175 U.S. Highway 98 in Hattiesburg. The shopping center is within the 504,000-square-foot Turtle Creek Crossing power center. Built between 2011 and 2012, the shopping center comprises a 75,760-square-foot Academy Sports + Outdoors and two shopping spaces leased to Mattress Express, Massage Envy Spa, Keesler Federal Credit Union, Papa Murphy’s and J. Allan’s. Alvin Mansour and Ryan Gomez of Marcus & Millichap’s San Diego office, along with Anne Williams of the firm’s Memphis office, represented the seller, a private developer based in Texas. The team also represented the buyer, an institutional net lease investor.

April 3, 2015

District of Columbia Office Southeast

HFF Brokers $109M Sale of Downtown D.C. Office Building

by John Nelson April 2, 2015

WASHINGTON, D.C. — HFF has brokered the $109 million sale of a 195,624-square-foot office building located at 2025 M St. N.W. in downtown Washington, D.C.’s Golden Triangle area. James Meisel, Dek Potts, Andrew Weir, Stephen Conley, Matthew Nicholson and Jessica Diorio of HFF represented the seller, a partnership between The Oliver Carr Co. and Clark Enterprises Inc. Mikeone EK purchased the asset, which was fully leased at the time of sale to tenants such as Kaplan, Radio Free Asia and Smith Bucklin. CBRE arranged acquisition financing for the transaction.

April 2, 2015

Florida Multifamily Southeast

CBRE Brokers $40.2M Sale of Multifamily Community in Central Florida

by John Nelson April 2, 2015

PORT ORANGE, FLA. — CBRE has brokered the $40.2 million sale of Whitepalm Apartment Homes, a new 306-unit luxury apartment community located at 5400 S. Williamson Blvd. in Port Orange, roughly 45 minutes outside of Orlando. Built in 2014, the gated Class A community features a large clubhouse, resort-style pool with cabanas, serenity beach with hammocks and a fitness center. Nashville-based Carter-Haston Holdings purchased the community from Birmingham-based LIV Development. Shelton Granade, Luke Wickham and Justin Basquill of CBRE represented the seller in the transaction.

April 2, 2015

Loans Office Southeast Virginia

PCCP Provides $34.6M Refinance Loan for Office Building in Arlington

by John Nelson April 2, 2015

ARLINGTON, VA. — PCCP LLC has provided a $34.6 million senior loan to refinance a nine-story, 114,766-square-foot office building in Arlington. The asset is located in the Courthouse submarket of Arlington’s Rosslyn-Ballston Corridor. The borrower, Washington, D.C.-based Penzance, will use the loan to refinance maturing debt on the asset, as well as finance tenant improvements, leasing efforts and renovations. Built in 1987, the office building is currently occupied by 14 tenants, 11 of which use the office building as their corporate headquarters.

April 2, 2015

Florida Multifamily Southeast

Blue Rock Partners, Konover South Purchase Metro Orlando Apartments for $22.5M

by John Nelson April 2, 2015

WINTER PARK, FLA. — Tampa-based Blue Rock Partners LLC and partner Konover South have purchased Hunter’s Ridge Apartments in Winter Park for $22.5 million. The 238-unit apartment community is located at 3733 N. Goldenrod Road. Hunter’s Ridge is the partnership’s fourth Orlando-area multifamily acquisition in the past eight months. The new ownership plans to invest $2 million in exterior and interior upgrades and rebrand the community as The Park at Napoli. Michael Donaldson of Marcus & Millichap’s Tampa office represented the seller, Toronto-based Ebenezer Holdings Corp., in the transaction. Wells Fargo provided acquisition financing on behalf of Blue Rock Partners and Konover South. Hunter’s Ridge was 95 percent occupied at the time of sale.

April 2, 2015

Florida Retail Southeast

Marcus & Millichap Brokers $19.5M Sale of The George Buildings

by John Nelson April 2, 2015

DELRAY BEACH, FLA. — Marcus & Millichap has brokered the $19.5 million sale of The George Buildings, two adjacent corner retail assets totaling nearly 20,000 square feet in Delray Beach. The buildings are located on the southeast and southwest corners of Atlantic Avenue and S.E. 4th Street. Howard Bregman of Marcus & Millichap’s Fort Lauderdale office represented the seller, a family corporation based in South Florida, and the buyer, a developer based in Palm Beach, Fla.

April 2, 2015

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