Southeast

TWO PUBLIX-ANCHORED CENTERS IN MIAMI SELL FOR $35.9M

by admin June 26, 2013

MIAMI — Equity One Inc. has sold Plaza Alegre and Meadows, two Publix-anchored centers totaling 163,935 square feet in the Miami submarket of West Kendall, for an aggregate purchase price of $35.9 million. A fund managed by the Goldman Sachs Real Estate Investment Group purchased the assets free and clear of existing debt. Completed in 2003, the 88,411-square-foot Plaza Alegre is situated on nearly eight acres. The center is 94.6 percent leased to tenants including Publix, Goodwill and Wells Fargo. Meadows features 75,534 square feet of retail space that is 95.5 percent leased. Tenants include Publix, Supercuts and GNC. Danny Finkle, Luis Castillo and Rob Saracco with HFF represented the seller.

June 26, 2013

OPUS GROUP COMPLETES CONSTRUCTION OF GANDER MOUNTAIN

by admin June 26, 2013

TUSCALOOSA, ALA. — The Opus Group has completed the construction of a 42,300-square-foot retail building for Gander Mountain, an outdoor specialty retailer offering hunting, fishing, camping and marine lifestyle products. The store is located at the former site of Bear Bryant Motors in Tuscaloosa. Opus Development Co. LLC provided development services, Opus Design Build LLC was the design-builder for the project and Opus AE Group LLC provided architecture and engineering services. In addition to the Tuscaloosa location, Opus also built the new Gander Mountain store in Valdosta, Ga., and provided construction management services for the location in Opelika, Ala. Opus was also recently awarded a contract from the company for a 45,600-square-foot store in Albany, Ga., which is scheduled to open in October.

June 26, 2013

Mixed-Use Southeast

PARK WEST VILLAGE SECURES PHASE III TENANTS

by admin June 26, 2013

MORRISVILLE, N.C. — Four new tenants have signed on to Phase III of Park West Village, located at the southwest corner of Cary Parkway and NC-54/Chapel Hill Road in Morrisville. ULTA Beauty, Chico's, White House | Black Market and Soma Intimates will all open in spring 2014. Park West Village is a 100-acre mixed-use development that includes a town center district, community center, restaurants and a movie theater. The development will also feature a residential, office and hospitality component.

June 26, 2013

Industrial Southeast

INALFA ROOF SYSTEMS TO OPEN $17.1M PLANT IN NORTH GEORGIA

by admin June 25, 2013

ACWORTH, GA. — Inalfa Roof Systems, a global supplier of vehicle roofing systems, will open a manufacturing plant in Acworth, investing $17.1 million in the facility and creating 300 jobs. The facility will be located at Cherokee 75 Corporate Park in Cherokee County. The plant is expected to initially open in January 2014 and become fully operational during the second quarter of 2015. The plant will be the fourth in the United States and the first in the Southeast for Inalfa, which is based in Veray, The Netherlands. Wylly Harrison is the project manager for the Georgia Department of Economic Development, which partnered with the Cherokee Office of Economic Development in the project location.

June 25, 2013

Industrial Southeast

TRANSWESTERN BROKERS SALE OF FORD DISTRIBUTION CENTER FOR $10.3M

by admin June 25, 2013

MEBANE, N.C. — Exeter Property Group has acquired the Ford Motor Co. High-Velocity Center (HVC), a Class A distribution facility located at 1099 Corporate Park Drive in Mebane, for approximately $10.3 million. The purchase price for the 252,000-square-foot distribution center equates to $40.83 per square foot. The property is 100 percent leased to Ford Motor Co., which extended its lease in June for another five years. Built for Ford in 2003, the Ford HVC is part of the North Carolina Industrial Center, a 600-acre mixed-use development that includes office, manufacturing and distribution space. Kevin Markwordt, Julian Brown and Walter Byrd of Transwestern’s Southeast investment services group represented the seller, LNR, in the transaction.

June 25, 2013

Office Southeast

ONE TOWN CENTER SECURES FIRST TENANT

by admin June 25, 2013

BOCA RATON, FLA. — Kayne Anderson Real Estate Advisors, the real estate arm of Los Angeles-based Kayne Anderson Capital Advisors, has signed a lease for 12,637 square feet of office space at One Town Center in Boca Raton. Formerly known as the Tyco Building, One Town Center was converted from a single-use, Class A office building to a multi-tenant office building earlier this year. In addition to amenity upgrades and renovations to the lobby and common areas, the third floor was renovated as a multi-tenant office floor. Kayne Anderson, which is the first tenant signed on to the renovated property, will be occupying half of the third floor. Michael Erickson with CBRE represented the owner, MetLife, in the lease transaction. Jeff Kelly, along with John Jaspet, represented the tenant.

June 25, 2013

Industrial Southeast

PURE DEVELOPMENT COMPLETES $56 MILLION GE MANUFACTURING FACILITY

by admin June 24, 2013

ELLISVILLE, MISS. — Pure Development has completed construction for a $56 million manufacturing plant for GE Aviation in Ellisville. The 340,000-square-foot facility manufactures advanced composite components for aircraft engines and systems. GE Aviation will employ 250 people at the plant by 2017. It marks the second project Pure Development has completed for GE Aviation in Mississippi. Pure developed another facility in Batesville that opened in 2008.

June 24, 2013

Industrial Southeast

CBRE ARRANGES 705,379 SF INDUSTRIAL PORTFOLIO SALE

by admin June 24, 2013

JESSUP, HALETHORPE AND COLUMBIA, MD. — CB Richard Ellis (CBRE) has arranged the sale of a 705,379-square-foot industrial portfolio in the I-95 corridor between Baltimore and Washington, D.C. The portfolio contains three Maryland properties situated at 8210 Wellmoor Court in Jessup, 4615 Hollins Ferry Road in Halethorpe and 9325 Snowden River Pkwy. in Columbia. The portfolio was 95 percent leased at the time of closing. The CBRE team of Jonathan Beard, Bo Cashman and John Boote represented the undisclosed seller. The buyer was MIM-Hayden Real Estate Funds.

June 24, 2013

Mixed-Use Southeast

MAC ASSEMBLES JV FOR MIXED-USE REDEVELOPMENT

by admin June 24, 2013

SILVER SPRING, MD. — MAC Realty Advisors has arranged a development joint venture for the redevelopment of the First Baptist Church located at 8415 Fenton St. in Silver Spring. Lead developer Grosvenor Americas is partnering with Lakritz Adler Real Estate Investments to replace the existing church with a more efficient building. The joint venture will also build a 259-unit apartment building with 19,000 square feet of street-level retail space and a two-story parking garage. The construction timetable was not released.

June 24, 2013

Office Southeast

NET-LEASED DIALYSIS CLINIC TRADES FOR $2.49 MILLION

by admin June 24, 2013

KNOXVILLE, TENN. — Marcus & Millichap has completed the sale of a medical office building in Knoxville net-leased to dialysis provider Fresenius Medical Care for $2.49 million. The 10,440-square-foot building was constructed in 2001 and is located at 1740 Western Ave. Tim Giambrone of Marcus & Millichap’s Atlanta office represented the seller, a Tennessee-based limited liability company, and procured the buyer, a California-based private investor.

June 24, 2013

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