Southeast

C&W NEGOTIATES $21.25M SALE OF DISTRIBUTION CENTER

by admin August 10, 2011

OLIVE BRANCH, MISS. — Cushman & Wakefield has arranged the $21.25 million sale of the 600,000-square-foot Diamond Comics Distribution Center, located at 7485 Polk Ln. in Olive Branch, to New York City-based AREA Property Partners. Stewart Calhoun, David Meline, Kirk Billings and Samir Idris of Cushman & Wakefield's Atlanta office along with Wyatt Aiken and Dave Curran of Memphis, Tenn.-based Commercial Advisors represented American Fund US Investments and Real Estate Capital Partners, the sellers, in the transaction.

August 10, 2011

SUNSET LAKE COMMONS SELLS FOR $12.82M

by admin August 10, 2011

HOLLY SPRINGS, N.C. — Marcus & Millichap has completed the sale of Sunset Lake Commons, an approximately 88,000-square-foot shopping center located in Holly Springs, for $12.82 million. Constructed in 2005 and located at 5277 Sunset Lake Road, the center is anchored by a 48,000-square-foot Harris Teeter, which has 14.5 years remaining on its ground lease. Additional tenants include Anytime Fitness, Click Computers, Great Clips, Rudino's Pizzeria, Ship On Site, The Paper Company and Wachovia. The center was 98 percent occupied at the time of closing. Sonny Molloy of Marcus & Millichap's Atlanta office and Brad Nathanson of the firm's Philadelphia office represented both undisclosed parties in the transaction.

August 10, 2011

Multifamily Southeast

DBBM PROVIDES $26.5M REFINANCING FOR THE PARK AT SALISBURY

by admin August 10, 2011

MIDLOTHIAN, VA. — Deutsche Bank Berkshire Mortgage has provided a $26.5 million loan under the Federal Housing Administration 223 (a)(7) program for the refinancing of the 320-unit The Park at Salisbury in Midlothian. The financing has a 40-year term.

August 10, 2011

Multifamily Southeast

BLUE RIDGE COS. SELLS RESERVE AT BRADBURY PLACE FOR $25.3M

by admin August 9, 2011

GOLDSBORO, N.C. — High Point, N.C.-based Blue Ridge Cos. has sold the 288-unit Reserve at Bradbury Place in Goldsboro to Greensboro, N.C.-based Brantley Properties for $25.3 million. Jordan McCarley of Southeast Apartment Partner's Charlotte, N.C., office and Daniel Eller of the firm's Raleigh/Durham, N.C., office represented both parties.

August 9, 2011

Office Southeast

SABEY TO DEVELOP 490,000-SQUARE-FOOT DATA CENTER IN VA.

by admin August 9, 2011

ASHBURN, VA. — Seattle-based Sabey Data Center Properties has acquired a 38-acre land parcel within the 84-acre Ashburn Technology Park in Ashburn from Baltimore-based St. John Properties for $17 million. Sabey will begin construction in late summer on a three-building, 490,000-square-foot data center, which will be leased to a variety of tenants upon completion. John Ryan of CB Richard Ellis' McLean, Va., office and Kesh Tayal of Keller Willams' McLean office represented the buyer in the transaction.

August 9, 2011

Retail Southeast

CARTER ARRANGES SALE OF S.C. SHOPPING CENTER

by admin August 9, 2011

ROCK HILL, S.C. — Carter has negotiated the sale of a 132,929-square-foot shopping center, located on Dave Lyle Boulevard in Rock Hill. The property contains Kohl's and Hobby Lobby. Terms of the sale were undisclosed, but the asking price was $12.5 million. Drew Fleming and Mark Joines of the firm's Atlanta office represented the undisclosed seller in the transaction. Los Angeles-based The Royston Group represented the undisclosed buyer.

August 9, 2011

Multifamily Southeast

ARA NEGOTIATES FLA. MULTIFAMILY SALE

by admin August 9, 2011

BOCA RATON, FLA. — ARA has arranged the sale of the 180-unit Boca Colony, located in the 2,000-acre Boca Del Mar PUD, a master planned community in Boca Raton, for an undisclosed price. Avery Klann, Hampton Beebe and Richard Donnellan of the firm's Boca Raton office represented Invesco Real Estate, the seller, in the transaction. The buyer was Bay Harbor Island, Fla.-based Atlantic | Pacific Cos.

August 9, 2011

Office Southeast

PERFORMANCE TEAM LEASES 185,570 SQUARE FEET OF OFFICE SPACE

by admin August 9, 2011

HUNTERSVILLE, N.C. — Performance Team has signed a 185,570-square-foot lease for office space at 13201 Reese Blvd. in Huntersville. Terry Brennan of Trinity Partner's Charlotte, N.C., office represented the tenant in the transaction and Brad Cherry of Jones Lang LaSalle's Charlotte office and Rob Speir, formerly of Jones Lang LaSalle, represented Panattoni Development Co., the landlord.

August 9, 2011

Georgia Market Reports Southeast Market Reports

Redevelopment and increased A leasing highlight improvements.

by admin August 9, 2011

The Atlanta retail market took a slight hit in the second quarter of 2011, but is still seeing improvement. Although available space in areas is starting to fill up, absorption in the second quarter of 2011 fell from positive absorption of 648,692 square feet in the first quarter to negative absorption of 726,174 square feet, according to CoStar Group’s Mid-Year 2011 Atlanta Retail Report. However, the vacancy rate only rose slightly, from 10.1 percent to 10.4 percent. Greg Eisenman, associate with Colliers International’s Atlanta office and a member of the Retail Services Group, says many tenants are looking to do deals. While speculative development is on hold, he expects the available amount of space to drop. Tony Cerniglia, vice president of retail services with CB Richard Ellis’ Atlanta office, says recovery has been spotty, although there are pocketed areas of the city that are doing well. Buckhead, Midtown and Cobb County have seen the most traffic, which Cerniglia says is not surprising because of the solid demographics and good locations. Some retailers have even been competing for space in these markets. Cobb County has seen some leasing traffic. In fact, according to Colliers International’s Atlanta Retail Market Report, the two …

August 9, 2011

Retail Southeast

DDR SELLS 134,701-SQUARE-FOOT CARRIAGE GATE SHOPPING CENTER

by admin August 8, 2011

RICHMOND, KY. — Developers Diversified Realty Group has sold the 134,701-square-foot Carriage Gate Shopping Center, located at 833-847 Eastern Bypass in Richmond, to The Rouse Cos. for an undisclosed amount. Hobby Lobby, Dunham's Sports, The Office Depot, Dollar Tree and Cato anchor the recently renovated center, which it currently 92.5 percent leased. Rebecca Wells of Cassidy Turley's Indianapolis office and Robert Taylor, Jr., of the firm's Cincinnati office represented the seller and Steve Pewitt of Commercial Real Estate Advisors represented the buyer.

August 8, 2011

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