Southeast

INSIGHT BREAKS GROUND ON $25M APT. BUILDING

by admin March 16, 2012

ARLINGTON, VA. — Insight Property Group has broken ground on the $25 million, 67-unit Grayson Flats Arlington, a 67-unit luxury apartment building located at 1200 N. Rolfe St. in Arlington. Amenities will include a courtyard with open cabanas, a fire pit, bocce lawn, fitness center, lounge with a kitchen and bar, a cyber cafe, Wi-Fi, and a billiards area. Completion is slated for October 2012. Bethesda, Md.-based Buevermo Investments is the equity partner for the project, Clark Builders Group is the general contractor, and Lessard Design and Preston Partnership designed it. Cardinal Bank provided a $19 million construction loan. Bozzuto Management will lease and manage the property upon completion.

March 16, 2012

BOARD APPROVES SITE PLAN FOR MIXED-USE DEVELOPMENT

by admin March 16, 2012

ARLINGTON, VA. — The Arlington County Board has approved the site plan for a 200,000-square-foot mixed-use development, located at 3901 N. Fairfax Dr. in Arlington. The property will include retail and office space, as well as a 13,000-square-foot performing arts theater and a conference center. Avison Young has been selected to lease the property, which is slated for completion in early 2014.

March 16, 2012

Retail Southeast

AUTO DEALERSHIP SELLS FOR $2.17M

by admin March 16, 2012

LONGWOOD, FLA. — A 62,198-square-foot auto dealership, located at 2925 N. Hwy. 17-92 in Longwood, has sold for $2.17 million. Bill Parke of Colliers International's Orlando, Fla., office represented the seller, FLTVT Dealership Property, in the transaction, and Sher Tolan of Orlando-based Southern Commercial Real Estate represented the buyer, Ramy Properties.

March 16, 2012

Market Reports Southeast Market Reports Tennessee

Strong improvement projected for 2012.

by admin March 16, 2012

Memphis, home of the Blues and Elvis Presley’s “Graceland”, is the largest city in the state of Tennessee with a population of 676,646. Tourists are drawn to the downtown Memphis entertainment district, anchored by the world famous Beale Street, NBA basketball with the Memphis Grizzlies, and AAA baseball’s finest ballpark, home of the Memphis Redbirds, the St Louis Cardinals farm team. Coming soon is Bass Pro Shop’s gaming retail store and museum, which will attract outdoors enthusiasts. With more than 50,000 people working in the medical industry, Memphis is internationally recognized for its contribution to the medical field. Located in the Medical District, is St. Jude Children’s Hospital, ranked the No. 3 children’s cancer hospital in the country by U.S. News, Le Bonheur Children’s Hospital nationally ranked in many different specialties, the Regional Medical Center of Memphis, one of the top trauma centers in the country and the University of Tennessee Center for Health Science. With its centralized location in the middle of the country, Memphis is the home of many distribution facilities and hubs, most notably FedEx as well as other Fortune 500 companies. The Memphis Chamber of Commerce expects to add more than 7,000 new jobs in 2012. …

March 16, 2012

Kentucky Market Reports Southeast Market Reports

Regional and national players look to expand.

by admin March 16, 2012

As 2012 begins the Louisville retail market continues to positively move forward. The energy and optimism in the national markets is well reflected in the city with new tenants entering the area for the first time and a variety of locals, regional and national players looking to expand. The greatest challenge currently in the market is the scarce availability of quality space which is hindering some retailers’ entry into the market today and could seriously affect future growth. Fall 2011 saw Guitar Center, Nike Factory Store and Trader Joe’s all opened in Shelbyville Road Plaza in the city’s main retail core, St. Matthews. While the influx of new tenants is positive, the ownership still must re-tenant vacant boxes left by Circuit City, Wild Oats and Border’s Books. Most recently, Anthropologie announced that it would join Macy’s, Sear’s and Von Maur at Oxmoor Mall further solidifying Oxmoor as the city’s premier upscale shopping destination. Mall St. Matthews continues to be well occupied while appealing to a slightly younger clientele. Other new additions to St. Matthews trade area include Mellow Mushroom Pizza, Tin Roof and Bruegger’s Bagels. The biggest news in the northeast segment of the trade area was the $78 million …

March 16, 2012

Multifamily Southeast

VENTURE TO BUILD $26.5M STUDENT HOUSING

by admin March 15, 2012

CARROLLTON, GA. — A public-private venture between the University System of Georgia Board of Regents and the University of West Georgia Foundation has plans to build a $26.5 million housing and dining complex at the University of West Georgia. RA-LIN and Associates has been selected to provide construction management services. The architect is Atlanta-based HADP. Two existing residence halls, Downs Hall and Boykin Hall, will be razed as well as the Art Annex building. These structures will be replaced with two new residence halls totaling 460 beds and a 30,000-square-foot dining facility with seating for 320. Plans also call for construction of office space for university housing and residence life staff within the dining facility. In addition, Bowdon Hall, a 290-bed residence hall, will be renovated to include ADA accessibility, updated bathrooms, wireless Internet and other improvements. Construction is scheduled to begin in July with a completion target of August 2013.

March 15, 2012

Multifamily Southeast

M&M BROKERS $2M APT. SALE

by admin March 15, 2012

TAMPA, FLA. — Marcus & Millichap has arranged the $2 million sale of the 40-unit Dale Mabry Palms Apartments, a Class B garden-style apartment complex located at 5901 S. Dale Mabry Hwy. in Tampa. Casey Babb and Luis Baez of Marcus & Millichap's Tampa office represented the seller, a developer, in the transaction and procured the buyer, a private investor.

March 15, 2012

Office Southeast

OFFICE CONDO SELLS FOR $1.03M

by admin March 15, 2012

NAPLES, FLA. — A 5,900-square-foot office condo, located at 1865 Veterans Park Dr., Unit 1, has sold for $1.03 million. Dave Wallace of CRE Consultants' Naples office represented the seller, MKK Holdings, in the transaction and procured the buyer, Jaffe Sports Medicine & Rehab.

March 15, 2012

Multifamily Southeast

CENTERLINE SECURES $23M IN MULTIFAMILY LOANS

by admin March 15, 2012

NEW YORK CITY — New York City-based Centerline Capital Group has arranged $23 million in affordable MBS loans for the refinance and acquisition of nine multifamily properties, four of which are located in the Southeast in Memphis and Cleveland, Tenn.; Gastonia, N.C.; and Birmingham, Ala. Additional properties are located in Temple, Texas; Kansas City, Mo.; Cincinnati, Dayton and Franklin, Ohio. The borrower is a commercial real estate owner and management company that specializes in Section 8 housing. The loans all have a 10-year term with a 30-year amortization schedule.

March 15, 2012

Office Southeast

LINCOLN TO LEASE FOUR OFFICE BUILDINGS

by admin March 15, 2012

ALPHARETTA, NORCROSS AND SMYRNA, GA. — Atlanta-based OA Development has awarded Lincoln Property Co. Southeast the leasing assignment for four office properties in metro Atlanta. The properties include the 135,000-square-foot Lakeview 400 and 99,000-square-foot Bluegrass Promenade in Alpharetta; the 111,000-square-foot Northwoods Business Center in Norcross; and the 104,000-square-foot 2400 Lake Park Drive in Smyrna. Michael Howell and Hunter Henritze of Lincoln will handle the leasing for the four office properties.

March 15, 2012

Newer Posts

Older Posts