UNION CITY, GA. — King Industrial Realty/CORFAC International has brokered the sale of Shannon Mall, a vacant 90-acre shopping mall in Union City. The buyer, Atlanta-based Rooker, plans to demolish the mall and build up to 1.2 million square feet of warehouse, distribution and logistics facilities that will target e-commerce occupiers. Rooker purchased the property, which features 10 acres of outparcels, from Lee Group USA, MB-REO Retail, MB-REO Land and Sears, Roebuck & Co. Inc. Sim Doughtie of King Industrial Realty/CORFAC worked with Union City Mayor Vince Williams to rezone the retail site to industrial.
Southeast
ATLANTA — Cortland Partners has acquired the 271-unit Pointe at Lenox Park, an apartment community located in Atlanta’s Druid Hills neighborhood. The property features a business center, clubhouse, fitness center, wood-burning fireplaces and private balconies. Cortland will implement renovations to the apartment units and updates to the common areas. Cortland purchased the asset, which was built in 1988, from a local private owner.
FORT MYERS, FLA. — The Ferber Co. has developed Chipotle Mexican Grill and a drive-thru Starbucks Coffee in the Shops at University, located at 10010 University Plaza Drive in Fort Myers. The new property spans 4,327 square feet and is the first Chipotle Mexican Grill in the Fort Myers area.
ATLANTA — OliverMcMillan has confirmed the names of 28 tenants that will join Buckhead Atlanta, the new 1.5 million-square-foot mixed-use development under construction in Atlanta’s Buckhead district. The first retailers and restaurants will open their doors in September, and the remaining tenants will open through the holiday season and early 2015. The tenants include: Akris (2,164 square feet) Bella Bag (1,178 square feet) Brunello Cucinelli (2,491 square feet) Canali (2,111 square feet) Christian Louboutin (1,787 square feet) diptyque (496 square feet) Etro (2,214 square feet) Helmut Lang (2,116 square feet) Hermès (4,100 square feet) Jimmy Choo (2,162 square feet) L’Occitane (2,784 square feet) Moncler (1,899 square feet) Scoop NYC (2,461 square feet) Spanx (2,999 square feet) Theory (2,580 square feet) Tod’s (2,101 square feet) American Cut (10,000 square feet) American F+B (6,370 square feet) Corso Coffee (1,596 square feet) Doraku Sushi (2,725 square feet) Georgetown Cupcake (2,700 square feet) Gypsy Kitchen (3,750 square feet) Le Bilboquet (3,686 square feet) Lugo Caffé (6,050 square feet) Shake Shack (2,500 square feet) The Southern Gentleman (3,750 square feet) Thirteen Pies (4,300 square feet) Qing Mu (2,725 square feet)
CINCINNATI, OHIO — Phillips Edison-ARC Shopping Center REIT Inc. has purchased four grocery-anchored shopping centers in Illinois, Tennessee and Virginia for approximately $73 million. The properties include the Jewel-Osco-anchored Burbank Plaza in Burbank, Ill.; the Walmart Supercenter-anchored Hamilton Village in Chattanooga, Tenn., which is the REIT’s first property in Tennessee; the Kroger-anchored Statler Square in Staunton, Va.; and the Martin’s-anchored Waynesboro Plaza in Waynesboro, Va. The shopping centers total approximately 736,000 square feet. The REIT’s portfolio now includes 102 properties in 24 states.
MIAMI BEACH, FLA. — CBRE has arranged the sale of eight multifamily properties in the South Beach section of Miami Beach totaling approximately $22.2 million. Boardwalk Properties FL LLC purchased the 113-unit, 69,583-square-foot portfolio from Pepis Corp., Erogol Corp. and Nanshar Corp. The properties are located at 705 Lenox Ave.; 762 Lenox Ave.; 710 Meridian Ave.; 825 Alton Road; 1501-1521 Michigan Ave.; 1600 West Ave.; and 1606 West Ave. Calum Weaver led the CBRE team in representing the sellers in the transaction. Neil Rollnick of Hinshaw & Culbertson LLP provided legal representation for the sellers, and Marc Kleiner of Kleiner Law Group provided legal representation for Boardwalk Properties FL LLC.
GOLDSBORO, N.C. — Charlotte-based Faison Enterprises Inc. plans to develop Berkeley Corner, a 57,000-square-foot shopping center anchored by a 45,000-square-foot Dick’s Sporting Goods store. The property will be located in Goldsboro adjacent to Berkely Mall. Capitol Funds Inc. owns both Berkeley Corner and Berkeley Mall. Justin Schad of Faison & Associates LLC coordinated the development of the shopping center with the city of Goldsboro.
LOUISVILLE, KY. — Quantum Real Estate Advisors Inc. has brokered the $7.8 million sale of a 14,820-square-foot, freestanding Walgreens in Louisville. Walgreens has more than 24 years remaining on its lease. The buyer, a private individual from New York, purchased the asset from an unnamed Louisville-based developer. Jordan Kaufman and Dan Waszak of Quantum Real Estate represented the buyer in the transaction.
CONCORD, N.C. — Franklin Street Real Estate Services has arranged the sale of a freestanding 9,200-square-foot property housing AT&T and Denny’s for $5.6 million, or $603 per square foot. The asset is located at 8031 Concord Mill Blvd. in Concord, a northern suburb of Charlotte. Bryan Belk of Franklin Street represented the seller, a private investor based in California. The buyer is a private investor based in North Carolina who plans to hold the asset long-term.
BAL HARBOUR, FLA. — A group of banks led by HSBC Holdings PLC has provided a $332 million loan to Consultatio, an Argentine development firm led by Eduardo Costantini. The loan will be used to finance the construction of Oceana Bal Harbour, a 28-story, 240-unit luxury residential tower at 10201 Collins Ave. in Bal Harbour, a village community 12 miles northeast of Miami. The tower is slated for a 2016 completion. Units at Oceana Bal Harbour are selling at an average price of $1,875 per square foot with prices ranging from $3 million to $30 million. Total sales are projected to be in the $1.2 billion to $1.3 billion range. Amenities of the new community will include underground parking, a private poolside restaurant, lap pool and leisure pool with cabanas, movie theater, children’s playroom, fitness center, 24-hour concierge, two tennis courts and a wine cellar.