Southeast

HFF SECURES $46M IN FINANCING FOR PLAZA AT DELRAY

by admin September 20, 2013

DELRAY BEACH, FLA. — HFF has arranged $46 million in financing for The Plaza at Delray, a 328,989-square-foot, grocery-anchored shopping center in Delray Beach. Eric Tupler, Chris Drew, Kristian Lichtenfels and Leon McBroom of HFF arranged the 10-year loan through Allianz Real Estate Of Americas on behalf of the borrower, Heitman and Ramco-Gershenson Properties Trust. The center is nearly 98 percent leased to tenants such as Publix, Marshalls, Ross Dress for Less, T.J. Maxx, CVS/pharmacy, Michaels, Anna's Linens and Ulta Salon.

September 20, 2013

CROSSMAN & CO. CLOSES SALE OF NORTHSHORE TOWN CENTER

by admin September 20, 2013

KNOXVILLE, TENN. — Crossman & Co., an Orlando-based real estate services firm, has arranged the sale of Northshore Town Center, a 78,306-square-foot, grocery-anchored retail development in Knoxville. Publix anchors the development, which was built in 2012. A private group purchased the property from the original developer, Knoxville-based CHM LLC. John Zielinski and Brian Carolan of Crossman & Co. handled the transaction.

September 20, 2013

Retail Southeast

WHOLE FOODS TO OPEN SECOND STORE IN METRO CHARLOTTE

by admin September 20, 2013

HUNTERSVILLE, N.C. — Whole Foods Market has signed a lease at Northcross Commons, a 56,120-square-foot shopping center in Huntersville, about 14 miles north of Charlotte. The shopping center is located on the northwest corner of the Interstate 77 and Sam Furr Road intersection. This will be Whole Foods' second store in the Charlotte MSA. Ryan Preston of Hawthorne Retail Partners Inc. represented the owner, Hawthorne Northcross LLC, in the lease deal. Bill Moseley of Moseley Retail Advisors represented Whole Foods. The Austin-based specialty grocer will occupy the space formerly housing Food Lion.

September 20, 2013

Multifamily Southeast

CBRE BROKERS SALE OF WOODMERE TRACE APARTMENTS IN NORFOLK

by admin September 20, 2013

NORFOLK, VA. — CBRE | Hampton Roads has arranged the sale of Woodmere Trace Apartments, located at 6741 E. Tanners Creek Drive in Norfolk. An affiliate of Harbor Group International LLC sold the 300-unit, garden-style multifamily community to Washington, D.C.-based CPDC. Woodmere Trace is the buyer's first multifamily investment in the Hampton Roads area. The buyer plans to renovate the interiors of the apartment community, which was built in 1975. Dan Johnson and Hank Hankins of CBRE | Hampton Roads represented the seller in the transaction.

September 20, 2013

Healthcare Southeast

NORTHSIDE HOSPITAL'S NEW MEDICAL OFFICE BUILDING OPENS IN NORTH GEORGIA

by admin September 19, 2013

WOODSTOCK, GA. — Duke Realty has completed the development of Northside Hospital's new 100,797-square-foot, four-story medical office building (MOB), located at 900 Towne Lake Parkway in Woodstock, about 25 miles north of Atlanta. Northside-Cherokee Towne Lake Medical Office Building is fully leased to Northside Hospital and features a variety of outpatient health services and physician practices. Duke Realty Towne Lake Development LLC owns the new facility, which has been submitted for consideration of LEED certification. The MOB's design team includes architect Lyman Davidson Dooley Inc. and general contractor Brasfield & Gorrie.

September 19, 2013

Office Southeast

CBRE ARRANGES $21.5M SALE, FINANCING FOR LAKESIDE OFFICE CENTER

by admin September 19, 2013

PLANTATION, FLA. — CBRE has arranged the $21.5 million sale of the five-story, 134,443-square-foot Lakeside Office Center, a Class A office building located at 600 N. Pine Island Road in Plantation. Beverly, Mass.-based Brookwood Financial Partners purchased the property from Invesco Real Estate. CBRE represented the seller in the transaction and secured a $14.7 million acquisition loan on behalf of the buyer. The office building was 75 percent leased at the time of sale. The CBRE team involved in the transaction includes Christian Lee, Charles Foschini, Christopher Apone and Marcos Minaya, all in CBRE's Miami office. Sandra Anderson of Jones Lang LaSalle also assisted in the transaction and now handles leasing for the new owner.

September 19, 2013

Hospitality Southeast

HOME2 SUITES BY HILTON OPENS NEW HOTEL IN MISSISSIPPI

by admin September 19, 2013

SOUTHAVEN, MISS. — Home2 Suites by Hilton has opened its 22nd U.S. hotel at 6750 Southcrest Parkway in Southaven, about 14 miles outside of Memphis, Tenn. The four-story, 105-room Home2 Suites by Hilton Memphis/Southaven is the brand's third hotel in Mississippi. Cohen Realty Inc. owns the hotel and Vista Host Inc. manages the property. The new hotel features a Home2 MKT for convenience items, a Spin2 Cycle fitness/laundry facility, continental breakfast room, complimentary shuttle to and from the airport, an indoor pool, patio with grills, a dog park and a walking trail.

September 19, 2013

Retail Southeast

RETAIL BUILDING IN CHESAPEAKE SOLD FOR REDEVELOPMENT

by admin September 19, 2013

CHESAPEAKE, VA. — Cushman & Wakefield | Thalhimer has arranged the $1.6 million sale of a 6,500-square-foot retail property located at 2400 Chesapeake Square Road in Chesapeake. The buyer, Parker Realty Group, purchased the center from Kelly's at Chesapeake Square LLC for redevelopment. Renovations are underway and should wrap up in January 2014. Starbucks Coffee, Hair Cuttery and Jersey Mikes have signed leases for space at the center. Eric Stanley of Cushman & Wakefield | Thalhimer represented the buyer in the transaction.

September 19, 2013

Multifamily Southeast

NORTHMARQ ARRANGES $10M LOAN FOR SOMERSTONE APARTMENTS IN CHARLOTTE

by admin September 19, 2013

CHARLOTTE, N.C. — NorthMarq Capital has arranged $10 million in first mortgage refinancing for Somerstone Apartments, a 360-unit, market-rate multifamily community located in Charlotte. Kevin Jenkins of NorthMarq Capital's Charlotte office arranged the 10-year loan with a 30-year amortization schedule through Freddie Mac on behalf of the borrower, Somerstone LLC.

September 19, 2013

Multifamily Southeast

$75M APARTMENT COMMUNITY IN ALEXANDRIA BREAKS GROUND

by admin September 18, 2013

ALEXANDRIA, VA. — The Bozzuto Group, a Greenbelt, Md.-based real estate services company, and MGL Partners, a Denver-based development firm, have broken ground on The Frasier, a $75 million apartment community in Alexandria. The 249-unit development will be located across the Potomac River from Washington, D.C. Bank of America and RBS Citizens provided construction financing, and The Bozzuto Group and MGL Partners provided equity. Bozzuto Construction Co. commenced construction on the development, which is slated for completion in spring 2015. The transit-oriented community will be located within walking distance of the Potomac Yard Metro Station, which is expected to open in 2016 or 2017. The Frasier's amenities will include an outdoor kitchen, lounge area with a fire pit and waterfall, a swimming pool, 2,200-square-foot fitness center, game room and library.

September 18, 2013

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