Southeast

$100M MIXED-USE PROJECT MOVES FORWARD IN CLAYTON COUNTY

by admin February 21, 2013

ATLANTA — The Development Authority of Clayton County and the Clayton County office of Economic Development will move forward with plans to develop the $100 million University Station Town Center, a live-work-play community four miles south of Hartsfield-Jackson Atlanta International airport. The 165,000-square-foot development will be located near the National and State Archives facilities. The project will include 100,000 square feet of retail, a hotel with up to 100 beds, a maximum of 50,000 square feet of office space, and up to 20,000 square feet of senior living space. The project is already home to a soundstage where several recent projects have been filmed, including the upcoming Scary Movie 5.

February 21, 2013

JV ACQUIRES 312-UNIT JACKSONVILLE COMMUNITY

by admin February 21, 2013

JACKSONVILLE, FLA. — A joint venture between Behringer Harvard Opportunity REIT II and ApexOne Investment Partners has acquired Wimberly at Deerwood, a 312-unit apartment community located at 9727 Touchton Road in Jacksonville. The apartments include one, two or three bedrooms, nine-foot ceilings, wood flooring in the kitchens and entryways and full-size washers and dryers. The units average 914 square feet. Community amenities include a swimming pool, fitness center, business center and 60-person theater room. Behringer Harvard Opportunity REIT II is the controlling partner.

February 21, 2013

Retail Southeast

PUBLIX-ANCHORED MAHAN VILLAGE OPENS IN FLORIDA

by admin February 21, 2013

TALLAHASSEE, FLA. — Cousins Properties Inc., with Watkins Retail Group and New Horizon Retail, has completed the development of the 147,000-square-foot Mahan Village in Tallahassee. The $26 million project is located at Capital Circle and Mahan Drive. A 67,664-square-foot Academy Sports + Outdoors, along with a 45,600-square-foot Publix anchor the property. The Publix relocated to Mahan Village from a smaller store across the street from the project. The Academy Sports + Outdoors is the only location for the company in Tallahassee. Other tenants include Uncle Maddio's Pizza Joint, Bruegger's Bagels, Moe's Southwest Grill and H&R Block.

February 21, 2013

Multifamily Southeast

CONSTRUCTION UNDER WAY ON HINES' @1377 RESIDENCES

by admin February 21, 2013

ATLANTA — Hines has started construction of @1377, a 215-unit multifamily complex on Dresden Drive in Atlanta. The development represents the company's first for-rent residential project in the region. The four-story building will have an attached multi-level parking garage. Amenities will include a swimming pool, fitness center, Internet cafe and sports lounge. The project will also feature studios, and one- and two-bedroom units ranging in size from 468 to 1,537 square feet. General Contractor Urban Oaks Builders expects occupancy of the first units this October with final completion in December 2013. The Preston Partnership of Atlanta designed the project.

February 21, 2013

Industrial Southeast

BINSWANGER TO MARKET 350,000 SF INDUSTRIAL FACILITY IN S.C.

by admin February 21, 2013

BLYTHEWOOD, S.C. — Pinchal & Co. LLC has named Binswanger the exclusive agent for the sale of a 350,000-square-foot industrial building on 23.5 acres at 1091 Carolina Pines Drive in Blythewood. Constructed in 1999, the building includes reinforced concrete floors, 31- to 35-foot clear ceiling heights, 70 dock doors and 8,280 square feet of office space. The property overlooks I-77 and is located eight miles from I-20.

February 21, 2013

Office Southeast

CROCKER BUYS $33.2M FLORIDA OFFICE BUILDING VIA AUCTION.COM

by admin February 20, 2013

ORLANDO — Crocker Partners has completed its purchase of Orlando University Center, a 386,521-square-foot office complex near the University of Central Florida, for $33.2 million. The property, sold via Auction.com, represents the second largest office sale of 2012. The five-building complex is 70 percent occupied with 56 tenants. Colliers International represented the seller, LNR, in the transaction. The buyer was self-represented. Archetype Mortgage Capital provided the auction financing.

February 20, 2013

Office Southeast

PARTNERSHIP BUYS 125,000 SF DECATUR COURT

by admin February 20, 2013

DECATUR, GA. — A partnership between Redstone Investments and Weaver & Woodberry has acquired Decatur Court, a 125,000-square-foot office building in downtown Decatur. Capmark Bank, which took ownership of the property through foreclosure in early 2012, was the seller. The building is 70 percent leased and sits on five acres. Tony Swann of CBRE represented the seller in the transaction. Redstone was self-represented.

February 20, 2013

Multifamily Southeast

DECATUR APARTMENT COMMUNITIES FETCH $13M

by admin February 20, 2013

DECATUR, GA. — Audubon Communities has acquired Birch Grove and Sycamore Chase, two apartment communities totaling 332 units in Decatur, for $13 million. The properties are situated on a combined 28.3 acres, less than one mile apart at 3073 Cedar Creek Parkway and 3117 Cedar Brook Drive. The combined occupancy is 94 percent. Units are primarily two- and three-bedrooms with an average unit size of 1,142 square feet. Jason Nettles and David Wagner led the HFF team that represented the seller, an affiliate of Resource Real Estate, in the transaction.

February 20, 2013

Multifamily Southeast

FLORIDA CRYSTALS CORP. BUYS 33 ACRES IN DELRAY BEACH FOR APT. DEVELOPMENT

by admin February 20, 2013

DELRAY BEACH, FLA. — Florida Crystals Corp. has acquired 33.1 acres in western Delray Beach for the development of 395 multifamily units for $8.5 million. The buyer plans to develop the property as rental apartments in two phases. The site is one mile from the Delray Marketplace, a 258,000-square-foot shopping center and entertainment destination, which includes a 12-screen movie theater and a Publix grocery store. The Boca Raton office of ARA represented the seller, Atlantic Commons Associates, in the transaction. ARA also secured the buyer.

February 20, 2013

Office Southeast

DEERWOOD ARRANGES $9M LOAN FOR GEORGIA OFFICE PORTFOLIO

by admin February 20, 2013

ATLANTA — Deerwood Real Estate Capital has arranged a $9 million non-recourse loan for a three-building office portfolio in suburban Atlanta. The 100,000-square-foot portfolio consists of three buildings, two of which were fully occupied and were refinanced. The third building, which had 30 percent occupancy, was purchased as a distressed acquisition. The borrower signed a lease at closing that brought the occupancy in the third building to 60 percent. Joe Hercenberg and David Rosenberg of Deerwood arranged the 10-year loan, which contains a 30-year amortization schedule.

February 20, 2013

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