Southeast

Up Campus Student Living to Break Ground on 641-Bed Student Housing Development Near University of Virginia

by John Nelson February 20, 2025

CHARLOTTESVILLE, VA. — Up Campus Student Living is set to break ground on Blume on Ivy, a 641-bed student housing development located near the University of Virginia campus in Charlottesville. The community will offer one-, two-, three- and four-bedroom, fully furnished units. Shared amenities will include a resort-style pool; rooftop entertainment deck with a jumbotron, cabanas, grills and fire pits; a game day lounge; golf simulator; and a boutique health-and-wellness center with private cross-training studios and a sauna. The project is scheduled for completion in fall 2027. TSB Capital Advisors arranged construction financing for the development, which was provided by Fifth Third Bank with additional participation from First Citizens Bank.

February 20, 2025

Build-to-Rent Development Multifamily Single-Family Rental South Carolina Southeast

Center Park Delivers First Build-to-Rent Townhomes at Sanderling Project in Johns Island, South Carolina

by John Nelson February 20, 2025

JOHNS ISLAND, S.C. — General contractor Center Park Group has delivered the first tranche of townhomes at Sanderling, a 56-unit build-to-rent (BTR) residential community located at 3021 Maybank Highway in Johns Island, about 13 miles south of Charleston. Atlanta-based RangeWater Real Estate is providing property management services at Sanderling on behalf of the owners, Equus Development Partners and Circle Squared Alternative Investments. Center Park expects to deliver all BTR homes at Sanderling by March. Units span up to 1,443 square feet and come in two- and three-bedroom configurations with one-car garages and front porches. Community amenities include a dog park and three acres of forested land with walking trails throughout.

February 20, 2025

Acquisitions Industrial South Carolina Southeast

Trinity Partners Brokers Sale of 28,000 SF Industrial Facility in West Columbia, South Carolina

by John Nelson February 20, 2025

WEST COLUMBIA, S.C. — Trinity Partners has brokered the sale of a 28,000-square-foot industrial facility located at 971 Harbor Drive in West Columbia. Nick Stomski, Jake Nidiffer and Ryan Causey of Trinity Partners represented the undisclosed buyer in the transaction. The seller and sales price were not disclosed. The Class B facility has been fully occupied by publicly traded HVAC firm Trane Technologies since 2019. The property includes frontage along I-26.

February 20, 2025

Georgia Leasing Activity Life Sciences Office Southeast

Duracell Selects Science Square in Midtown Atlanta for New R&D Headquarters

by John Nelson February 19, 2025

ATLANTA — Battery manufacturer Duracell has selected Science Square in Midtown Atlanta for its new global headquarters for research-and-development (R&D). Trammell Crow Co. and Georgia Institute of Technology (Georgia Tech) jointly own the 18-acre Science Square development, which sits adjacent to Georgia Tech’s campus. Duracell plans to invest approximately $56 million into its new space at 101 Nerem St. NW and create 110 jobs. Civic and utility partners that helped Duracell in its site selection include the Georgia Department of Economic Development’s Global Commerce team, Invest Atlanta, Select Fulton, Metro Atlanta Chamber, Georgia Power and the University System of Georgia. Duracell has had a footprint in Georgia for years. The company currently has a manufacturing facility in LaGrange that has been in operation since 1980 and a logistics and distribution plant in Fairburn that began operations in 2020.

February 19, 2025

Acquisitions Multifamily South Carolina Southeast

JLL Negotiates $45.4M Sale of Water Tower Apartments in Greenville, South Carolina

by John Nelson February 19, 2025

GREENVILLE, S.C. — JLL has negotiated the $45.4 million sale of Water Tower Apartments, a luxury multifamily community located at 1000 Water Tower Circle in Greenville. Built in 2024, the 233-unit property is situated with direct access to the 28-mile Swamp Rabbit Trail. Hathaway Cos. purchased Water Tower Apartments from Urban Realty Partners. John Gavigan, John Mikels and Chase Monroe of JLL represented the seller in the transaction. Additionally, Brad Woolard and Taylor Allison of JLL arranged an undisclosed amount of acquisition financing for the buyer. Water Tower Apartments features a mix of studio, one-, two- and three-bedroom residences averaging 741 square feet in size. The property was 10 percent occupied at the time of sale as the previous owner received its certificate of occupancy (CO) in December 2024.

February 19, 2025

Acquisitions Florida Industrial Leasing Activity Southeast

Digiacomo Group, JLL Arrange $25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport

by John Nelson February 19, 2025

MIAMI — Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Ave. in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial development. Built in 1978 and renovated in 2019, the cold storage facility sits on a 3.3-acre lot near Milam Dairy Road on the outskirts of the Miami International Airport campus. The property features 30.5-foot clear heights in the warehouse space, 24-foot clear heights in the cooler space, 11 dock-high doors and one grade-level door. Roger Zuniga of Digiacomo Group, along with Cody Brais, Luis Castillo and Taylor Osborne of JLL, represented Sun Belle in the sale-leaseback transaction. Additionally, Christopher Drew, Michael DiCosimo and Jovi Rodriguez of JLL arranged an undisclosed amount of acquisition financing for Iconic Equities.

February 19, 2025

Acquisitions Kentucky Multifamily Southeast

Kirkland Brokers Sale of 84-Unit Crown Pointe Apartments in Georgetown, Kentucky

by John Nelson February 19, 2025

GEORGETOWN, KY. — The Kirkland Co. has brokered the sale of Crown Pointe, an 84-unit apartment community located at 1100 W. Main St. in Georgetown, about 15 miles north of Lexington, Ky. Brandon Wilson, Brian Devlin and John Seale of Kirkland brokered the transaction. The seller, buyer and sales price were not disclosed. Built in 1994, Crown Pointe features two-bedroom apartments averaging 1,035 in size, with units recently renovated with updated flooring, kitchen backsplashes, appliances, painted cabinets, washer/dryer connections and bathroom vanities.

February 19, 2025

Acquisitions Development Office Self-Storage Southeast Virginia

Cresa Secures Sale of 30,000 SF Vacant Office Building in Arlington, Virginia

by John Nelson February 19, 2025

ARLINGTON, VA. — Cresa has secured the sale of the Portsmouth Building, a vacant 30,000-square-foot office building located at 3138 10th St. N in Arlington. BRB Development Group paid approximately $200 per square foot for the property, with plans to demolish the building to make way for a new self-storage development. Gene Sachs, Jonathan Harms and Natalie Gosnell of Cresa represented the seller, America’s Credit Unions (ACU), in the transaction. ACU is a merger of the Credit Union National Association (CUNA) with National Association of Federally-Insured Credit Unions (NAFCU). ACU consolidated the two companies into new office space at 99 M St. SE in the metro’s Navy Yard submarket.

February 19, 2025

Acquisitions Multifamily North Carolina Southeast

Crescent Communities Sells 285-Unit Novel Ballantyne Apartments in South Charlotte

by John Nelson February 18, 2025

CHARLOTTE, N.C. — Crescent Communities has sold its interest at Novel Ballantyne, a 285-unit upscale apartment community located at 14011 Bespoke Road in south Charlotte’s Ballantyne district. The buyer and sales price were not disclosed, but Charlotte Business Journal reports that Crescent Communities netted roughly $95 million in the sale. The Class A property is a component of a master-planned residential community that includes an active adult property (The Balmore at Ballantyne by Laurel Street) and an upcoming townhome community. Built in 2023, Novel Ballantyne features a mix of studio, one- and two-bedroom apartments, as well as an amenity package that includes a resort-style saltwater pool area, fitness center, dog park, coworking library and an outdoor lawn with a putting green. The design-build team for Novel Ballantyne included Cooper Carry (architect), Ellinwood + Machado (structural engineer), IMEG Corp. (MEP engineer), LandDesign (landscape architect and civil engineer) and Vignette (interior designer).

February 18, 2025

Acquisitions Florida Industrial Southeast

CBRE Arranges $20M Sale of Chancellor Square Industrial Complex in Orlando

by John Nelson February 18, 2025

ORLANDO, FLA. — CBRE has arranged the $20 million sale of Chancellor Square, an industrial complex spanning 142,069 square feet in Orlando. Boca Raton, Fla.-based Basis Industrial purchased the property from Miami-based B Group Capital Management. Ronald Rogg of CBRE represented the seller in the transaction, along with Sebastian Barbagallo and Franco Barbagallo of B Group Capital. Anthony Scavo and Ahmad Elayyan represented Basis Industrial internally. Situated on 23 acres in Orlando’s Central Park area, Chancellor Square comprises three single-story freestanding buildings that feature light industrial, flex and showroom space. The property was fully leased at the time of sale to government and publicly traded companies, according to CBRE.

February 18, 2025

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