POMPANO BEACH, FLA. — Developer Rosemurgy Properties has broken ground on The 23Hundred, a two-building, 13,485-square-foot retail center in Pompano Beach. The property will be located at 2350 and 2390 N. Federal Highway. The project team includes architect RLC Architects and general contractor Rosemurgy Properties General Contracting. Schmier & Feurring Realty Inc. is providing leasing services for The 23Hundred, which is set for a early 2015 completion. Chipotle Mexican Grill has pre-leased 2,440 square feet at the development, and Jersey Mike’s Subs has pre-leased 1,703 square feet.
Southeast
COLUMBIA, S.C. — Harbert Realty Services, a Birmingham, Ala.-based commercial real estate services firm, has brokered the $3.8 million sale of a 129,000-square-foot office building in downtown Columbia. The property, the former AgFirst Farm Credit headquarters, will be redeveloped into a mixed-use property featuring upscale apartment residences. James Proctor and Dean Nix of Harbert Realty Services represented the buyer, Heritage Land & Development, in the transaction. Tripp Bradley of Colliers International represented the seller.
NEWBERN, TENN. — Hart Corp. has arranged a 252,000-square-foot industrial lease in Newbern, a city in west Tennessee. The landlord, Embee Associates Inc., inked the lease with Rough Country, an automotive suspension systems manufacturer. Bob Blackman and Bart Hardison of Hart Corp. represented the landlord in the lease transaction.
The Charlotte market is emerging from the sluggish economy of the last several years and is booming with economic and commercial activity. In fact, Forbes recently recognized Charlotte as the fourth fastest growing city since the recession. The retail market is no exception and is continuing to improve with tenant activity increasing and vacancy rates dropping. From desirable South Charlotte to Independence Boulevard, new projects are coming out of the ground in an effort to meet the needs of the tenants in the market that are struggling to find locations. The suburban markets are seeing increased growth as people continue to move to Charlotte. South Charlotte continues to be the most desirable market for tenants, but limited availability has been a problem. The new Waverly project, a joint venture between Crosland Southeast and Childress Klein, will help to provide some options for tenants looking to expand into South Charlotte. Waverly will be located at the intersection of Providence Road and I-485 and is a 90-acre, master-planned development anchored by Whole Foods. The project will deliver in 2016 and consists of more than 230,000 square feet of retail space in addition to 330,000 square feet of office and medical space, a …
ATLANTA — IDI Gazeley plans to begin developing more than 1 million of square feet of speculative industrial space in metro Atlanta. The properties include Hamilton Mill Business Center Building C in Gwinnett County and Jefferson Distribution Center Building B in Jefferson County. IDI Gazeley plans to deliver the 196,000-square-foot Hamilton Mill property in the first quarter of 2015. The Hamilton Mill Business Center is 97 percent leased to tenants such as Office Depot, FedEx Freight, Daimler Trucks North America and Lund International. The 840,000-square-foot Jefferson Distribution Center facility is slated for a second quarter 2015 delivery. IDI Gazeley is part of Brookfield Logistics Properties following Brookfield’s acquisition of Atlanta-based IDI in 2013.
ORLANDO, FLA. — HFF has brokered the sale of the Holiday Inn Resort Lake Buena Vista, a 503-room hotel located at 13351 S. Apopka Vineland Road in Orlando. The transaction is the largest hotel sale brokered in Orlando this year, according to Real Capital Analytics. The hotel is a Walt Disney Good Neighbor Hotel, with 7,000 square feet of meeting space, a resort-style outdoor swimming pool, a new Applebee’s Neighborhood Grill & Bar, a fitness center, basketball court, children’s club, gift shop and business center. ROCH Capital purchased the asset from Vista Hospitality Co. free and clear of debt. Michael Weinberg and Max Comess of HFF represented Vista in the transaction. The hotel is part of a three-property portfolio that HFF is marketing on behalf of Vista; the other properties include Crowne Plaza Orlando Downtown and the Holiday Inn Express & Suites Fort Lauderdale. Portfolio Hotels will manage the asset on behalf of ROCH Capital.
VILLAGE OF PINECREST, FLA. — Franklin Street Real Estate Services has brokered the $7.4 million sale of a single-tenant office building at 9480 S. Dixie Highway in the Village of Pinecrest, a suburb of Miami. The property is fully leased to Intermex Wire Transfer, which recently signed a seven-year lease extension. Deme Mekras, Elliot Shainberg and David Reinke of Franklin Street represented the buyer, Miami Har LLC, in the transaction. The seller, ATS Intermex LLC, owned the property for a little less than a decade.
WILMINGTON, N.C. — Mount Pleasant, S.C.-based Ziff Properties (ZPI) has sold the Murchison Building, a 60,000-square-foot mixed-use property in downtown Wilmington, for approximately $3.4 million. The 10-story property was built in 1914. John Hinnant of Maus, Warwick, Matthews & Co. represented the California-based buyer in the transaction. Patrick Gildea of CBRE represented ZPI.
FORT LAUDERDALE, FLA. — Stiles Realty has arranged more than 47,000 square feet of new leases, expansions and renewals at Commercial Place I & II, a 175,432-square-foot office campus in Fort Lauderdale. Madelayne Garcia of Stiles Realty represented the landlord, Western National Life Insurance Co., in the lease transactions. New leases totaling 15,271 square feet include: HDR Engineering Inc., an architectural and engineering firm, signed leases totaling 10,540 square feet. Keith Edelman and Scott Goldstein of JLL represented HDR in the transaction. International Tourism Management Services LLC signed a new lease for 3,218 square feet. Zachary Wendelin of Cresa represented the tenant. H5 Group, a wholesale importer of watches and jewelry, signed a new lease for 1,513 square feet. Barry Brizel of Raintree Properties & Investments represented H5. Renewed leases totaling 31,808 square feet include: Progressive Casualty Insurance has renewed for 21,576 square feet and expanded for another 5,417 square feet. The national insurance provider signed a 64-month lease. Zachary Wendelin of Cresa represented Progressive. Network solutions provider Presidio Networked Solutions Inc. renewed its lease for 4,815 square feet. Mary Catherine Washo of DTZ Americas represented Presidio.
JUPITER, FLA. — Rendina Healthcare Real Estate has begun construction on a two-story, freestanding healthcare facility for Jupiter Medical Center in Jupiter. The medical office building will be located approximately two miles south of Jupiter Medical Center. The 26,000-square-foot Margaret W. Niedland Breast Center will be a LEED Silver-certified facility offering 3D mammography, breast ultrasound, Positron Emission Mammography (PEM), stereotactic breast biopsy, bone density, and breast and general MRI services. The second floor of the facility will also house the high-risk and genetics program and be available for physician office and educational space. The project team includes general contractor Anderson-Moore Construction, architect Davis Stokes Collaborative, landscape architect Cotleur & Hearing and engineer Jeff H. Iravani Inc. The facility is slated to open in the first quarter of 2015.