Southeast

MCLAUGHLIN ACQUIRES FORMER SANTENS FACILITY FOR $7M

by admin May 17, 2013

ANDERSON, S.C. — Moline, Ill.-based McLaughlin Body Co. has acquired the 427,337-square-foot Santens of America facility at 5121 Old Pearman Dairy Road in Anderson for $7 million. The industrial property is situated on 93 acres and will serve as McLaughlin Body Co.'s new subsidiary location to serve their clients in the region. The company manufactures operator protection systems, including cab enclosures and metal components for construction, military, agriculture and other heavy-duty vehicles. Charles Whitmire Jr. and Elliott Fayssoux of Cushman & Wakefield | Thalhimer represented the seller, KBC Anderson Associates, in the transaction.

May 17, 2013

TECH COMPANY SIGNS 11,604 SF LEASE IN RALEIGH

by admin May 17, 2013

RALEIGH, N.C. — ICF Technology, a technology, management and policy consulting firm based in Fairfax, Va., has signed a new lease for 11,604 square feet of office space in Raleigh. The company plans to consolidate its two Raleigh-Durham offices into the Meridian Corporate Center, located at 2635 Meridian Parkway. Ryan Lawrence of Jones Lang LaSalle represented the tenant in the transaction.

May 17, 2013

Industrial Southeast

VITAL RECORDS RENEWS 79,972 SF INDUSTRIAL LEASE

by admin May 17, 2013

CHARLESTON, S.C. — Memphis, Tenn.-based Vital Records Control has renewed its lease for 79,972 square feet of warehouse and distribution space at North Rhett III, part of a four-building industrial park in Charleston. The park is located just off I-26, a short distance from the Port of Charleston. Vital Records Control provides information management and document storage solutions for businesses. Chambers Street Properties is the property landlord.

May 17, 2013

Hospitality Southeast

ASHFORD CLOSES $90M PURCHASE OF PIER HOUSE RESORT AND CARIBBEAN SPA

by admin May 16, 2013

KEY WEST, FLA. — Ashford Hospitality Trust Inc. has completed its previously announced acquisition of the 142-room Pier House Resort and Caribbean Spa in Key West for $90 million. The hotel includes 40 waterfront facing rooms and suites and standard guest rooms that average 325 square feet. The hotel also features 2,600 square feet of meeting space, a 10,000-square-foot spa, three food and beverage outlets and a fitness facility. The property is located at the northern end of Duval Street on a six-acre compound with a private beach and immediate access to the Gulf of Mexico. In 2012, the hotel achieved RevPAR of $275, 83 percent occupancy and and average daily rate of $333.

May 16, 2013

Multifamily Southeast

CONTINENTAL TO BUY ORLANDO APT. COMMUNITY FOR $25.2M

by admin May 16, 2013

ORLANDO — Continental Realty Advisors has acquired Bonita Fountains Apartment Homes, a 560-unit community in Orlando for $25.2 million. The property was built in two phases in 1988 and 2000 and units average 826 square feet. The new owner is planning more than $3.5 million in upgrades to the community in the next 12 to 24 months. “We intend to create a sizeable southeastern portfolio with significant holdings in Florida markets,” according to Warren Horvarth, director of acquisitions at CRA. “Bonita's location is focused on affordability but in close proximity to many tourism, service and manufacturing jobs, which should sustain the viability of the area for the long term.”

May 16, 2013

Industrial Southeast

MATTEX TO CREATE 200 JOBS, INVEST $60M IN MURRAY COUNTY

by admin May 16, 2013

DALTON, GA. — Mattex Group, a Dubai-based carpet backings producer, will establish its U.S. headquarters by building an extrusion manufacturing plant in Murray County, which is part of the Dalton metropolitan statistical area in North Georgia. The company will invest $60 million in the facility and create 200 jobs during the next three years. The company currently has a warehouse in Calhoun, Ga., but the Murray County facility will be Mattex Group's first manufacturing plant outside the Middle East. The property will include between 275,000 and 375,000 square feet. The company, which is building the facility to serve its North American markets, plans to begin construction on the plant this summer and for the facility to become operational in 2014. The Georgia Department of Economic Development (GDEcD) partnered with Murray County and Murray County Industrial Development Authority to manage the expansion. Carl Campbell, regional project manager at GDEcD, led the project on behalf of the state. Georgia Quick Start, a workforce training program, will provide assistance to the company.

May 16, 2013

Hospitality Southeast

L'AUBERGE CASINO RESORT COMPLETES $20M RENOVATION

by admin May 16, 2013

LAKE CHARLES, LA. — L'Auberge Casino Resort and Pinnacle Entertainment Inc. held a ribbon-cutting ceremony for the completion of a $20 million hotel room renovation project in Lake Charles. Phase II of the renovation will begin in September to complete renovation of the remaining hotel tower rooms and suites in the first half of 2014. The renovation included the addition of two new room categories: Royale and Marquis Suites. Upgraded amenities include refrigerators, Keurig brand coffee machines, make-up mirrors and new furnishings. KAP Construction served as the contractor for the project.

May 16, 2013

Retail Southeast

JOINT VENTURE TO DEVELOP THE OUTLET SHOPPES AT LOUISVILLE

by admin May 16, 2013

SIMPSONVILLE, KY. — Horizon Group Properties Inc. and CBL & Associates Properties Inc. have formed a joint venture to develop The Outlet Shoppes at Louisville in Simpsonville. Located along I-64, the 370,000-square-foot project will serve residents of Louisville, Lexington and Frankfort. It will be the only outlet center located in the state of Kentucky, according to a statement by the joint venture. Construction will begin in June with completion set for late summer 2014. The property is currently more than 75 percent leased and retailers include Coach, Banana Republic, Brooks Brothers, Chicos, Nike and Saks Fifth Avenue OFF 5TH.

May 16, 2013

Multifamily Southeast

TRINITAS BREAKS GROUND NEAR UNC-CHAPEL HILL

by admin May 15, 2013

CHAPEL HILL, N.C. — Trinitas Ventures held a groundbreaking ceremony May 8 for the Bicycle Apartments in Chapel Hill, N.C., near the University of North Carolina. The 608-bed, 194-unit community will be available to students in August 2014. As the name implies, biking will be encouraged, and the community will feature storage for up to 400 bicycles. According to The Daily Tar Heel, a student newspaper for the university, the development costs approximately $20 million.

May 15, 2013

Multifamily Southeast

THE COLUMNS APARTMENT COMMUNITY TRADES FOR $7.5M

by admin May 15, 2013

JACKSONVILLE, FLA. — Marcus & Millichap has arranged the $7.5 million sale of The Columns, a 244-unit apartment complex in Jacksonville, for $7.5 million. The gated community features a clubhouse with leasing office, fitness center, three resort-style swimming pools, 24-hour clothes care center, recreation areas and 24-hour emergency maintenance. Tal Frydman, Daniel Cunningham, Derek Gibbs and Allan Holbrook of Marcus & Millichap represented the seller, a limited liability company. Frydman, Cunningham, Gibbs and Holbrook, also represented the buyer, a limited liability company.

May 15, 2013

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