Southeast

Partnership Breaks Ground on 5.6-Acre FAT Village Mixed-Use Development in Fort Lauderdale

by John Nelson March 22, 2024

FORT LAUDERDALE, FLA. — A partnership comprising Hines, Urban Street Development, Cresset Real Estate, Las Americas, Hudson Capital and Halmos Holdings has broken ground on FAT Village, a 5.6-acre mixed-use project in Fort Lauderdale. FAT stands for “Food Art Technology.” The first phase, which is scheduled for completion in 2027, will feature 74,000 square feet of retail space, in addition to 601 apartments and 180,000 square feet of mass-timber office space dubbed T3 (Timber, Transit and Technology). FAT Village’s second phase will be developed upon completion of the first. In total, the project will comprise 850 residential units and more than 80,000 square feet of retail space, as well as a 1,200-space commercial parking structure. Hines received a $220 million construction loan for the development in December 2023.

March 22, 2024

Affordable Housing Development Georgia Mixed-Use Multifamily Southeast

Culdesac, Urban Oasis to Develop 20-Acre Murphy Crossing Project in Atlanta

by John Nelson March 22, 2024

ATLANTA — Culdesac Inc. and Urban Oasis Development will develop the Murphy Crossing mixed-use redevelopment in Atlanta’s Oakland City neighborhood, following approval by Atlanta BeltLine Inc. (ABI) and Invest Atlanta, the City of Atlanta’s economic development arm. Located at 1050 Murphy Ave., the project will span 20 acres and feature 1,100 residential units, as well as commercial space, light industrial space and amenities. Of the residential units, 30 percent will be designated as affordable housing for residents earning 60 to 80 percent of the area median income (AMI). Additionally, a portion of the commercial and industrial space will be offered at an affordable rate to small businesses, with small business retail tenants eligible for one-time business grants. Upon completion, the development, which is situated adjacent to the BeltLine’s Westside Trail and near the Oakland City and West End MARTA stations, will feature plazas, courtyards, green space, paths, bike lanes and a community garden. A development timeline was not disclosed.

March 22, 2024

Acquisitions Georgia Southeast Student Housing

Cushman & Wakefield Arranges Sale of Student Housing Community Near Kennesaw State University in Metro Atlanta

by John Nelson March 22, 2024

KENNESAW, GA. — Cushman & Wakefield has arranged the sale of The Haven at Kennesaw, a cottage-style student housing community located near the Kennesaw State University (KSU) campus in Kennesaw, roughly 30 miles northwest of Atlanta. Developed in 2018, the property features 148 beds across 32 units in one-, four- and five-bedroom configurations. Amenities include a swimming pool, sundeck and green space. Travis Prince, Victoria Marks, Travis Presnell and Shawn Lubic of Cushman & Wakefield represented the seller, Henssler Capital LLC, in the transaction. The Preiss Co. acquired the community, which was fully occupied at the time of sale. Terms of the transaction were not disclosed.

March 22, 2024

Development Georgia Healthcare Southeast

Hoar Begins Construction on $18.3M Hospital Expansion, Renovation in Cordele, Georgia

by John Nelson March 22, 2024

CORDELE, GA. — Hoar Construction has broken ground on the expansion and renovation of Crisp Regional Hospital in Cordele, about 66 miles south of Macon via I-75. Completion of the $18.3 million project is scheduled for August 2025. Plans include the addition of 15,000 square feet across two stories, including 7,500 square feet of operating suite space. Renovations will also include updates to the hospital’s existing administration, post-operation and entrance and waiting room spaces. The project team includes architect CDH Partners, program manager Impact Development Management, structural engineer Walter P. Moore, civil engineer Columbia Engineering and MEP engineer NBP Engineers.

March 22, 2024

Acquisitions Office South Carolina Southeast

Marcus & Millichap Brokers $4.3M Sale of Office Property in Aiken, South Carolina

by John Nelson March 22, 2024

AIKEN, S.C. — Marcus & Millichap has brokered the $4.3 million sale of a single-tenant office building located in Aiken, about 20 miles east of Augusta, Ga. UPS Supply Chain Solutions occupies the 51,250-square-foot property, which is located at 2031 S. Centennial Ave. Ani Paulson of Marcus & Millichap’s Atlanta office represented the undisclosed seller in the transaction. Ben Yelm, the firm’s broker of record in the state, assisted in closing the sale.

March 22, 2024

Development Southeast Student Housing Tennessee

RISE, University of Tennessee Break Ground on Two Residence Halls Totaling 1,950 Beds

by John Nelson March 21, 2024

KNOXVILLE, TENN. — A public-private partnership between the University of Tennessee and RISE: A Real Estate Co. has broken ground on two residence halls expected to open on the university’s Knoxville campus in fall 2025. The two communities will add approximately 1,950 beds to the university’s housing inventory, which currently totals 8,500 beds. The first development, a seven-story building offering 788 beds, will be located at the intersection of Andy Holt Avenue and 20th Street. The second, two-building residence hall will offer 1,166 beds between Caledonia and Terrace avenues. Construction of the two communities represent Phase I of a larger project, which will include the development of a third 1,028-bed residence hall. The project is being delivered through a ground lease structure, with the university retaining ownership of the land. An entity doing business as Provident Group–UTK Properties will own the facilities for the term of the project-based bond financing. At the end of the debt, the ownership of the buildings will revert to the university. RISE — alongside undisclosed partner firms — is developing, financing and constructing the facilities and will maintain them in partnership with the university through a long-term shared services partnership. The development team includes Niles …

March 21, 2024

Development Leasing Activity Mixed-Use Restaurant Retail South Carolina Southeast

Branch, Crosland Southeast Add Retailers to One Nexton Development in Metro Charleston

by John Nelson March 21, 2024

SUMMERVILLE, S.C. — Branch Properties and Crosland Southeast have added new retailers to join the tenant roster at One Nexton, a mixed-use development underway in the Charleston suburb of Summerville. The property is a component of Nexton, a master-planned community owned by a subsidiary of North America Sekisui House LLC (NASH) and managed by Brookfield Properties. Situated on 23.7 acres at the northeast corner of Brighton Park Boulevard and Nexton Parkway, the first phase of One Nexton features a Publix grocery store, 32,000 square feet of retail space, two corner outparcels, green space and 351 Class A apartments. Phase I’s retail space is fully preleased to tenants including Catrina’s Cantina, Jersey Mike’s Subs, Swamp Fox Agency, The Packie Wine and Spirits, Roper St. Francis, Dulce Churros, Ice Cream and Cocktails, Heartland Dental, Woodhaven Pizza, Ruby’s Bagels, Noire Nails, Basecamp Fitness, Naan Appetit and Fifth Third Bank. The design team includes master architect Shook Kelley, multifamily architect SGA Narmour Wright Design and retail architect Hiscutt & Associates Inc. Jeff Yurfest of TSCG is handling One Nexton’s outparcel and retail leasing activity, and Greystar is managing the project’s multifamily component. At full build-out, One Nexton will feature 150,000 square feet of retail and …

March 21, 2024

Development Florida Industrial Southeast

Miller Construction Delivers 143,571 SF Industrial Facility in Medley, Florida

by John Nelson March 21, 2024

MEDLEY, FLA. — Miller Construction Co. has delivered a 143,571-square-foot warehouse located at 7290 N.W. 77th Court in Medley, a town in Miami-Dade County. Woods Grove Capital is the developer of the Class A industrial facility, which features 36-foot clear heights, 42 columns with 54-foot spacing, 37 dock doors and two drive-in ramps. The project team includes IBI Group’s RLC Architects, Puga & Associates Inc. (MEP engineer), DDA Engineers (structural engineer) and Langan (civil engineer).

March 21, 2024

Acquisitions Georgia Retail Southeast

Marcus & Millichap Brokers $2.7M Sale of Retail Center in Tifton, Georgia

by John Nelson March 21, 2024

TIFTON, GA. — Marcus & Millichap has brokered the $2.7 million sale of a 16,324-square-foot retail center located at 1898 W. U.S. Highway 82 in Tifton, a city situated along I-75 in South Georgia. Zach Taylor and Philip Levy of Marcus & Millichap represented the seller and procured the private buyer. Both parties requested anonymity. The property’s tenant roster includes Little Caesar’s, Sally Beauty and Cricket Wireless. Walmart Supercenter, Rent-A-Center and Lowe’s Home Improvement shadow-anchor the property.

March 21, 2024

District of Columbia Retail Southeast

NRF Projects US Retail Sales to Exceed $5.2T in 2024

by John Nelson March 21, 2024

WASHINGTON, D.C. — The National Retail Federation (NRF) has projected that U.S. retail sales will reach between $5.2 trillion and $5.3 trillion this year, which would mark an annual increase of 2.5 to 3.5 percent. The projection was announced today during the organization’s “State of Retail and the Consumer” webinar. The calculation excludes transactions at automobile dealers, gas stations and restaurants, focusing on core retail. Non-store and online sales are included in the figure and expected to account for roughly $1.5 trillion of spending. “The resiliency of consumers continues to power the American economy, and we are confident there will be moderate but steady growth through the end of the year,” says Matthew Shay, president and CEO of the NRF. Sales reached $5.1 trillion in 2023, marking an annual growth of 3.6 percent from 2022.

March 21, 2024

Newer Posts

Older Posts