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DevelopmentNorth CarolinaRetailSoutheast

Topgolf Breaks Ground on Two-Level Venue in Greensboro, North Carolina

by John Nelson

GREENSBORO, N.C. — Topgolf has broken ground on a new, two-level venue in Greensboro. Situated along I-40 at Guilford College Road, the venue will comprise 72 outdoor climate-controlled hitting bays, with each bay featuring lounge furniture or high-top tables. Additionally, the new Topgolf will include a full-service restaurant, private event rooms and an outdoor area with yard games. The opening is scheduled for late 2024 and is expected to create 300 jobs. Dallas-based Topgolf operates more than 90 venues worldwide.

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AcquisitionsFloridaIndustrialSoutheast

CBRE Brokers Sale of 300,240 SF Industrial Building in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — CBRE has brokered the sale of a 300,240-square-foot industrial building located at 9909 Pritchard Blvd. in Jacksonville. Newly constructed and dubbed Building 200, the property is situated within the master-planned Florida Gateway Logistic Park. The building features 36-foot clear heights, cross-dock loading, 86 dock doors, four drive-in doors, ESFR sprinkler systems, 168 car parking spaces and 138 trailer parking spaces. IPEX USA, a PVC and thermoplastic piping system supplier, fully occupies the property. Clarion Partners acquired the building in a joint venture with Diamond Realty Investments on behalf of a separate account. CT Realty sold the property for an undisclosed price. Jose Lobón, Trey Barry, Frank Fallon, Chris Riley, Royce Rose, Alain Bonvecchio and Gabriel Braun of CBRE represented the seller in the transaction.

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DevelopmentMixed-UseNorth CarolinaSoutheast

Deep River Partners to Develop 27-Acre Mixed-Use Project in Mebane, North Carolina

by John Nelson

MEBANE, N.C. — Deep River Partners has acquired 27 acres off Mebane Oaks Road in Mebane, roughly 25 miles northwest of Durham, with plans to develop a mixed-use project. Deep River purchased the site from an undisclosed seller for $4.3 million. Upon completion, the site will feature five commercial outparcels and a 90-unit townhome comprising residences in three-bedroom layouts. Amenities at the townhome community will include picnic and playground areas, a dog park and an exercise area. Brian Craven and Matt King of CBRE|Triad represented Deep River in the land acquisition, and Ken Walker of RE/MAX Diamond Realty represented the seller.

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AcquisitionsGeorgiaRetailSoutheast

JLL Arranges $18.5M Sale of Reynolds Crossing Retail Center in Metro Atlanta

by John Nelson

DULUTH, GA. — JLL Capital Markets has brokered the $18.5 million sale of Reynolds Crossing, a 45,809-square-foot retail center located in Duluth, roughly 30 miles northeast of Atlanta. Built in 2004 and 2005, the property was fully leased at the time of sale to tenants including Little Caesar’s, The UPS Store, MetroPCS, Chase Bank and Cricket Wireless. Kroger shadow-anchors Reynolds Crossing. Brad Buchanan and Jim Hamilton of JLL represented the seller, Leaders Real Estate Group, in the transaction. Justin Miller of Marcus & Millichap procured the undisclosed buyer. Jamie Safier of Marcus & Millichap secured financing on behalf of the buyer.

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FloridaLeasing ActivityRetailSoutheast

Dollar Tree Opens Three New Stores in South Florida

by John Nelson

HIALEAH, MIAMI AND WEST PALM BEACH, FLA. — Dollar Tree has opened three new stores in South Florida. The retailer now occupies 13,500 and 14,000 square feet in Hialeah and Miami, respectively. Dollar Tree has also opened a 9,000-square-foot store in West Palm Beach. Additionally, the retailer is currently underway on the development of two stores in Sunny Isles Beach and Lauderhill, Fla. Steve Miller of The Rotella Group represented Dollar Tree in the lease negotiations.

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GeorgiaLoansSoutheast

Berkadia Secures $36.8M Refinancing for Pointe Grand Warner Robins Apartments in Central Georgia

by John Nelson

WARNER ROBINS, GA. — Berkadia has secured a $36.8 million loan for the refinancing of Pointe Grand Warner Robins, a recently completed, 288-unit apartment community located at 1601 Leverette Road in Warner Robins. Michael Weinberg and Wesley Moczul of Berkadia’s Orlando office arranged the two-year, floating-rate loan on behalf of the developer and borrower, Hillpointe. Situated about 20 miles south of Macon, Ga, the property comprises two-bedroom, 1,170-square-foot apartments across 10 three-story buildings. Amenities include a swimming pool, 24-hour fitness center and a business center. Hillpointe will use the financing to provide a return of equity to its fund and allow for more flexibility in placing permanent debt or selling the property.

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AcquisitionsGeorgiaRetailSoutheast

Publix Purchases Matt Town Center in Metro Atlanta for $30M

by John Nelson

CUMMING, GA — Publix Super Markets Inc. has purchased Matt Town Center, an 81,077-square-foot shopping center located at 5310 Matt Highway in Cumming, roughly 40 miles northeast of Atlanta. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the seller, Marietta, Ga.-based Retail Planning Corp., in the $30 million transaction. Publix anchors the property, which was built in 2020. Matt Town Center was 95 percent leased at the time of sale to tenants including Domino’s, Great Clips, North Shore Dry Cleaners, Grand Nails, Sage Dental, Reveille Café, The UPS Store, EasyVet, Dunkin’ and Zaxby’s. The sale also included roughly 3.9 acres of adjacent, undeveloped land that is zoned for retail and office space.

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AcquisitionsFloridaOfficeSoutheast

CBRE Facilitates Sale of 120,500 SF Sabal Pavilion Office Building in Tampa

by John Nelson

TAMPA, FLA. — CBRE has facilitated the sale of Sabal Pavilion, a 120,500-square-foot office property located at 3620 Queen Palm Drive in Tampa. Situated on 11.8 acres, the building is located at the entrance of Sabal Park, a master-planned business development. Amenities at the building include a cafeteria, fitness center and a tenant courtyard with an outdoor basketball court and grilling stations. Dale Peterson, Joe Chick, Courtney Snell and Nick Sharpe of CBRE Capital Markets represented the seller, CTO Realty Growth Inc., in the transaction. A Virginia-based private real estate company acquired the building for an undisclosed price. Ford Motor Credit has fully occupied the property since 2000. Recently, Ford Motor Credit executed a 91,401-square-foot sublease agreement with Cirkul Inc., a reusable water bottle manufacturer.

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AcquisitionsAffordable HousingMississippiSeniors HousingSoutheast

Hunt Capital Transfers Ownership of 76-Unit Affordable Seniors Housing Community in Biloxi, Mississippi

by John Nelson

BILOXI, MISS. — Hunt Capital Partners has transferred ownership of Cadet Point Senior Village, an affordable seniors housing community in Biloxi, back to Biloxi Community Development Corp., the nonprofit arm of the Biloxi Housing Authority. Developed in 2007, the property comprises 76 units. Hunt Capital transferred ownership back to the civic organization in late November following negotiations accounting for the operational expense challenges at the property. According to Hunt Capital, Cadet Point has experienced insurance premium increases totaling more than 65 percent over the past five years due to its exposure to hurricanes. Biloxi Community Development will have full control of development and operational decisions at Cadet Point.

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AcquisitionsFloridaRetailSoutheast

SRS Arranges $6.2M Sale of Retail Strip Center in Apollo Beach, Florida

by John Nelson

APOLLO BEACH, FLA. — SRS Real Estate Partners has arranged the sale of Apollo Beach Shoppes, a retail strip center situated on 1.9 acres at 6588 N. U.S. Highway 41 in Apollo Beach, a city in the Tampa Bay metro area. A Florida-based private investor acquired the 9,000-square-foot property for $6.2 million. Patrick Nutt, William Wamble and Daniel Becker of SRS represented the seller, a Florida-based investment and development group, in the transaction. Retailers at the three-tenant property include Trulieve, AT&T and Tijuana Flats.

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