Southeast

BHI Provides $50M Construction Loan for Residential Tower in Atlanta’s Buckhead District

by John Nelson March 28, 2024

ATLANTA — BHI has provided a $50 million construction loan for The Dillon, an 18-story condominium tower underway at 2395 Peachtree St. NE in Atlanta’s Buckhead district. The borrower, an affiliate of The Kolter Group LLC, plans to deliver the property by January 2025. The loan is part of the development’s $133 million credit facility, which is overseen by BHI. The Dillon will offer for-sale residences configured in one-, two- and three-bedroom layouts ranging in size between 1,470 and 3,754 square feet. Amenities will include an amenity deck with a resort-style pool with cabanas and a spa, event lawn, pickleball court, dog park, clubroom with a catering kitchen, golf simulator, coworking spaces and a fitness center. In 2022, Kolter delivered The Graydon, a 45-unit condominium development located a quarter-mile from The Dillon.

March 28, 2024

Florida Loans Multifamily Southeast

Walker & Dunlop Arranges $49.5M Agency Refinancing for Palmilla Apartments in Pensacola, Florida

by John Nelson March 28, 2024

PENSACOLA, FLA. — Walker & Dunlop has arranged a $49.5 million Fannie Mae loan for the refinancing of Palmilla Apartments, a 240-unit multifamily community located at 51 S. Coyle St. in Pensacola, a city on the Florida-Alabama border. Will Baker and Doug McDaniel of Walker & Dunlop’s Birmingham office arranged the five-year, fixed-rate loan on behalf of the borrower, Kore LLC. The borrower will use the proceeds to reach stabilization at Palmilla and pay off construction debt. Kore used Fannie Mae’s green platform for better pricing, according to Walker & Dunlop. Palmilla features studio, one-, two- and three-bedroom units ranging in size from 588 to 1,618 square feet, according to Apartments.com. Amenities include a pool, fitness center, clubhouse, putting green and electric vehicle charging stations.

March 28, 2024

Development Industrial North Carolina Southeast

Opus Group Breaks Ground on 131,000 SF Speculative Industrial Facility in Huntersville, North Carolina

by John Nelson March 28, 2024

HUNTERSVILLE, N.C. — The Opus Group has broken ground on Huntersville Commerce Center, a 131,000-square-foot speculative industrial facility located at 13601 Reese Blvd. in Huntersville, about 12 miles north of Charlotte via I-77. The 11-acre project is situated within the Park at Huntersville, a master-planned development that houses tenants including Daumar, Atom Power, NSI Industries and Oelikon. Slated for delivery in the fourth quarter, Huntersville Commerce Center will feature 13 dock doors (expandable to 26), two drive-in doors, 32-foot clear heights, 11 trailer parking stalls and 130 auto parking stalls. The Opus Group is the developer, general contractor, architect and structural engineer of record on the project. Orsborn Engineering Group PA is serving as civil engineer. Justin Smith and Rob Speir of Colliers’ Charlotte office are marketing Huntersville Commerce Center for lease.

March 28, 2024

Development Florida Leasing Activity Mixed-Use Office Southeast

DigitalBridge Signs 79,141 SF Corporate Headquarters Lease at Sundy Village in Delray Beach, Florida

by John Nelson March 28, 2024

DELRAY BEACH, FLA. — DigitalBridge, a digital infrastructure investment firm active in data centers and cell towers, has signed a 79,141-square-foot office lease at Sundy Village, a mixed-use development located at 100 S.E. 1st Ave. in Delray Beach. The South Florida property will serve as the new corporate headquarters for DigitalBridge, which is relocating from nearby Boca Raton. The company plans to move its 300 employees to Sundy Village in the third quarter. The development’s other office tenants will include the developer, Pebb Capital, as well as Vertical Bridge. Joe Freitas and John Criddle of CBRE oversee office leasing at Sundy Village, which also features retail space, structured and subterranean parking and green spaces.

March 28, 2024

Development Florida Leasing Activity Mixed-Use Retail Southeast

Bowlero Opens 30,000 SF Lucky Strike Bowling Alley at Miami Worldcenter

by John Nelson March 28, 2024

MIAMI — Bowlero Corp. has opened Lucky Strike Miami, a 30,000-square-foot entertainment venue within the $6 billion Miami Worldcenter development. The venue is the second new build for Bowlero using the Lucky Strike brand since it was acquired in September. Lucky Strike Miami features 28 bowling lanes, an arcade, craft cocktail bar, food service and a VIP room with six private bowling lanes. The venue is situated adjacent to Kaseya Center, home arena of the NBA’s Miami Heat. Miami Worldcenter Associates is the master developer of the 27-acre district, which comprises 10 city blocks and features three residential towers and the newly opened citizenM hotel, among other uses.

March 28, 2024

Development Georgia Hospitality Mixed-Use Restaurant Retail Southeast

Centennial Yards Co. Unveils Plans for New Entertainment District in Downtown Atlanta

by John Nelson March 27, 2024

ATLANTA — Centennial Yards Co., a development entity owned by Los Angeles-based CIM Group, has unveiled plans for the next phase of its $5 billion mixed-use destination in downtown Atlanta. Spanning eight acres adjacent to Mercedes-Benz Stadium and State Farm Arena, the new phase of Centennial Yards will create a mixed-use entertainment district spanning 480,000 square feet across four buildings, as well as a fan gathering area that the developer says will be heavily utilized during the games held in Atlanta during the 2026 FIFA World Cup. Designed by Gensler, the new phase will comprise a three-story, 70,000-square-foot building housing an unspecified “eatertainment” concept; a four-story, 160,000-square-foot building hosting a single-tenant entertainment venue; a two-story, 50,000-square-foot building with restaurants and shops; and a 14-story, 233-room hotel. Centennial Yards represents the transformation of the city’s Gulch district, a 50-acre site that has primarily served as subterranean parking for Atlanta Falcons games in years past. Including the new entertainment district, Centennial Yards at full build-out will span 8 million square feet of new and converted offices, apartments, hotels, shops, entertainment venues and restaurants, including Wild Leap Brewery. Centennial Yards Co. plans to deliver two-thirds of the overall development by summer 2026.

March 27, 2024

Development Florida Kentucky Leasing Activity Retail South Carolina Southeast Tennessee

BJ’s Wholesale Club to Open Five New Stores in the Southeast and Indiana

by John Nelson March 27, 2024

MARLBOROUGH, MASS. — BJ’s Wholesale Club, an operator of member retail warehouse locations, plans to open five new clubs in the Southeast and Indiana this fiscal year, which ends Feb. 1, 2025. The new clubs will be located in Maryville, Tenn., a suburb of Knoxville; Myrtle Beach, S.C.; Palm Coast and West Palm Beach in South Florida; and Carmel, Ind., a suburb of Indianapolis. Earlier this month, the Marlborough-based company announced its plans to open a new store near Jefferson Mall in Louisville, Ky. BJ’s Wholesale expects each new club to create roughly 150 new jobs. The company first opened its warehouse club model in New England in 1984. Today, BJ’s Wholesale operates 244 clubs and 175 BJ’s Gas stations in 20 states.

March 27, 2024

Acquisitions Florida Retail Southeast

CTO Realty Growth Acquires Metro Orlando Power Retail Center for $68.7M

by John Nelson March 27, 2024

SANFORD, FLA. — CTO Realty Growth has acquired Marketplace at Seminole Towne Center, a 318,000-square-foot power retail center located in Sanford, approximately 25 miles north of Orlando. An undisclosed seller sold the center for $68.7 million. Situated on 41 acres along I-4, the property was 98 percent leased at the time of sale. Burlington, Marshalls, World Market, Petco, Ross Dress for Less, Old Navy, Ulta Beauty and Five Below anchor the center. The Orlando-based REIT purchased Marketplace at Seminole Towne Center through a 1031 exchange.

March 27, 2024

Georgia Industrial Leasing Activity Southeast

MDH Partners Inks Two Leases at Georgia Warehouses Totaling 1.5 MSF

by John Nelson March 27, 2024

CARTERSVILLE AND BLOOMINGDALE, GA. — MDH Partners has signed two tenants to leases totaling nearly 1.5 million square feet combined at warehouses in Georgia. In Cartersville, the Atlanta-based landlord signed an unnamed solar panel manufacturer to an 843,000-square-foot lease at Busch Commerce Center. The 1.2 million-square-foot facility was completed last fall by MDH and CF Real Estate Investments. Nathan Anderson and Darren Butler of NAI Brannen Goddard represented MDH in the lease transaction. The company also signed a third-party logistics firm to a full-building lease at Beltway Logistics Center, a 655,000-square-foot facility in the Bloomingdale suburb of Savannah. Butler also represented the landlord in this lease deal.

March 27, 2024

Acquisitions Multifamily South Carolina Southeast

CBRE Arranges Sale of 284-Unit Apartment Community in Charleston

by John Nelson March 27, 2024

CHARLESTON, S.C. — CBRE has arranged the sale of Preserve at Essex Farms, a 284-unit apartment community located at 3245 Glenn McConnell Parkway in Charleston’s West Ashley submarket. Jim Sewell, David Lansbury and Erika Maston of CBRE represented the unnamed seller in the transaction. The buyer and sales price were also not disclosed. Preserve at Essex Farms comprises studio, one-, two- and three-bedroom floor plans, as well as two-story townhomes. Amenities include a resort-style swimming pool, grill area, bike trail, 24-hour fitness center and a pet spa area. B&M Management Co. is the property manager.

March 27, 2024

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