Southeast

INVEST ATLANTA APPROVES $200M IN PUBLIC FUNDS FOR NEW FALCONS STADIUM

by admin April 5, 2013

ATLANTA — Invest Atlanta, the city's economic development arm, has approved public funding to help build the proposed $1 billion Atlanta Falcons stadium. The board of directors approved issuing $200 million in bond funding, backed by the city's hotel and motel tax, to finance the public contribution for the new retractable-roof stadium. The Falcons, along with private entities, will pay the remaining cost. The vote marks the final steps in lining up financing for the stadium. The Georgia World Congress Center, which will own the stadium, and Atlanta City Council, have already approved the project. However, the project team is still negotiating with two churches to acquire the necessary land to build the project, which would be located just south of the Georgia Dome, according to local reports. The churches would have to be moved for the project to move forward. The goal is to complete the stadium by 2017.

April 5, 2013

NEW TENANTS JOIN HARRIS CORNERS CORPORATE PARK IN CHARLOTTE

by admin April 5, 2013

CHARLOTTE, N.C. — New Boston Fund has secured four new leases and renewed two existing tenant leases, totaling 74,180 square feet, at Harris Corners Corporate Park in Charlotte. The leases bring the occupancy rate at Harris Corners to 90 percent. Monumental Life, North American Transmission Forum, Wood Forest National Bank and THR Property Management will each be moving to Harris Corners this spring. In addition, Bank of America renewed its lease for three years. Polymer Group also renewed its lease and expanded by an additional 10,065 square feet. New Boston acquired Harris Corners in 2011, and the park consists of two five-story buildings and one four-story building. Charlie Swanson of Beacon Partners represented New Boston in each of the transactions. Amy Fleming Powell of Lincoln Harris LLC represented Bank of America; Chase Monroe and Bryan White of Jones Lang LaSalle represented Polymer Group; Allan Schwender of SA Commercial represented Monumental Life; and Christy Nine of Cresa represented THR.

April 5, 2013

Office Southeast

CABI ACQUIRES HSBC BUILDING IN MIAMI

by admin April 5, 2013

MIAMI BEACH, FLA. — Cabi 301 Commercial has acquired 301 Arthur Godfrey Road, a six-story office building anchored by HSBC Bank in Miami Beach, for $15.1 million. The property is located along Miami Beach's “Banker's Row” and is fully occupied by a mix of diverse tenants. The one-acre site also includes a parking lot. Hermen Rodriguez, Ike Ojala, Manuel de Zarraga and Jorge Portela led the HFF team that represented the seller in the transaction. The buyer was a private investment firm.

April 5, 2013

Retail Southeast

PRESTIGE ACQUIRES $30.2M SHOPPING CENTER IN LUTZ

by admin April 4, 2013

LUTZ, FLA. — Prestige Properties & Development has closed on its purchase of Van Dyke Commons, a 139,347-square-foot community center in Lutz for $30.2 million. Tenants include LA Fitness, Home Goods and Golfsmith. iStar Financial was the seller.

April 4, 2013

Industrial Southeast

CEVA SIGNS 102,381 SF LEASE AT GLOBE CENTER

by admin April 4, 2013

MORRISVILLE, N.C. — CEVA, a logistics company, has signed a lease for 102,381-square-foot of space at Globe Center, a Class A industrial park in Morrisville. Globe Center is a master-planned park composed of eight uniformly designed buildings, located adjacent to the Raleigh-Durham International Airport and I-540. Ann Stewart Patterson and Butch Miller of CBRE|Raleigh and Deborah Royale and Daniela Neukam of CBRE represented the tenant in the transaction. Craig Davis Properties represented the landlord.

April 4, 2013

Office Southeast

BLANCA COMMERCIAL TO LEASE THE BUILDING ON PONCE CIRCLE IN MIAMI

by admin April 4, 2013

MIAMI — Blanca Commercial Real Estate has been named the exclusive leasing agent for The Building on Ponce Circle, a 58,000-square-foot, Class A office building at 2990 Ponce de Leon Blvd. in Miami's Coral Gables business district. AJP Ventures developed the building in 2012 on behalf of a joint venture between Mas Group of Cos. and TAZ Partners LLC. The property is 62 percent occupied and tenants include Zubi Advertising, Mas Group of Cos., FirstBank Florida and LBI Media. The property includes floor-to-ceiling windows, an on-site bank and drive-thru teller and a rooftop terrace. Tere Blanca and Alison Pages of Blanca Commercial Real Estate will lead the marketing and leasing of the property.

April 4, 2013

Mixed-Use Southeast

COMMONWEALTH BUYS 50 ACRES IN VIRGINIA FOR MIXED-USE PROJECT

by admin April 4, 2013

YORK COUNTY, VA. — Commonwealth Green has acquired 50 acres near the Kiln Creek subdivision on Commonwealth Green Boulevard in York County for $6.4 million. The buyer plans to develop a mixed-use project on the site named Commonwealth Green, which will include 334 upscale apartments, 94 townhomes and 40,000 square feet of retail. Chris Rouzie and Ken Penrose of Cushman & Wakefield |Thalhimer represented the seller, JLK Family LLC, in the transaction.

April 4, 2013

Retail Southeast

BLUE RIDGE ACQUIRES TWO VALUE-ADD RETAIL CENTERS IN METRO ATLANTA

by admin April 4, 2013

BUFORD, GA. — Blue Ridge Capital LLC has acquired two value-add retail centers in Buford, approximately a half-mile from I-985 along Lanier Islands Parkway, for $2.5 million. The sale included the 23,750-square-foot Friendship Village, a neighborhood center that includes tenants such as All Eyes Vision, Lanier Dental and La Cazuela, a Mexican restaurant. The second property is the 23,450-square-foot Shoppes at Friendship, with tenants such as Subway, Vinny's New York Pizza and Ark Veterinary Hospital. State Farm also finalized a 1,050-square-foot lease at the property at the close of the deal. Blue Ridge plans to renovate the properties, which were approximately 60 percent vacant at the time of sale.

April 4, 2013

Multifamily Southeast

WALKER & DUNLOP ARRANGES $98M FOR APT. COMMUNITIES IN SOUTHEAST

by admin April 3, 2013

BETHESDA, MD. — Walker & Dunlop has arranged $98 million in financing for six multifamily properties in the Southeast, consisting of 1,708 units. The firm arranged a 10-year acquisition loan for Polo Glenn Apartments in Rockledge, Fla., through Freddie Mac on behalf of the borrower, Pollack Shores Real Estate Group. In Georgia, Walker & Dunlop arranged refinancing loans through Freddie Mac for Sinclair Apartment Homes and Springdale Glen Apartments on behalf of the borrower, Cortland Partners. Priderock Capital Partners secured a 10-year acquisition loan through Walker & Dunlop, which arranged the loan through Fannie Mae. The borrower used the funds to acquire Park Place Apartments in Louisville, Ky. In the last deal, the firm arranged two, 10-year loans for multifamily properties in Louisiana — Palmetto Creek Apartments and Regency Club Apartments — on behalf of the borrower, Favrot & Shane Cos.

April 3, 2013

Industrial Southeast

BERLIN PACKAGING TO OCCUPY NEW FLORIDA SPEC BUILDING

by admin April 3, 2013

FORT LAUDERDALE, FLA. — Berlin Packaging, a North American packaging supplier, has signed a 40,000-square-foot lease at a new spec distribution building located at 9682-9689 Premier Parkway in Fort Lauderdale. The new lease at the 87,540-square-foot property brings the building to full occupancy, just one month after Sunbeam Properties brought the spec building to market. The remainder of the building is occupied by a manufacturing company. Steven Medwin, Chris Watts and Nick Wigoda of Jones Lang LaSalle represented the tenant in the transaction.

April 3, 2013

Newer Posts

Older Posts