Southeast

Tempus Realty Completes 530,000 SF Westrock Coffee Distribution Center in Conway, Arkansas

by John Nelson January 19, 2024

CONWAY, ARK. — Tempus Realty Partners has completed a 530,000-square-foot distribution center in Conway, which will be occupied by project partner Westrock Coffee. Tempus and Westrock acquired the 30-acre site, which is located roughly 30 miles outside Little Rock, in early 2023. Building features include 36-foot clear heights, a 13,000-square-foot mezzanine office, 100,000 square feet of air-conditioned production space, extensive power distribution and an exterior enclosed machine room. The property will support Westrock Coffee’s product and packaging operation at a nearby facility, as well as handle additional distribution needs. The development team included Clark Contractors, Lewis Architects, Engineering Consultants and Build Nimble/Colliers Arkansas. Ted Dickey of Lighthouse Asset Advisors advised Westrock Coffee in the project.

January 19, 2024

Development Industrial South Carolina Southeast

Tesla to Open 251,100 SF Logistics Center Near Greenville

by John Nelson January 19, 2024

FOUNTAIN INN, S.C. — Electric vehicle giant Tesla will open a 251,100-square-foot logistics center within Fox Hill Business Park in Fountain Inn, roughly 20 miles outside Greenville. The facility, the first in the state for Tesla, will distribute vehicle parts regionally and will not include manufacturing operations. Tesla will fully occupy Building 3 within Fox Hill Business Park, which is being developed by The Sudler Cos. Tesla and the developer announced a similar partnership in Tampa in 2023. A timeline for the auto company’s occupancy at Fox Hill was not disclosed. Other tenants at the park, which will feature up to 2.5 million square feet of manufacturing, distribution and warehousing space at full build-out, include Sage Parts Plus, a supplier of replacement parts for aviation ground support equipment.

January 19, 2024

Development District of Columbia Multifamily Southeast

JAG, FORTIS Deliver 12-Story Multifamily Development in D.C.

by John Nelson January 19, 2024

WASHINGTON, D.C. — Jefferson Apartment Group (JAG) and The Fortis Cos. have delivered J. Coopers Row, a 312-unit multifamily development located in the Capitol Riverfront submarket of Washington, D.C. Situated at 1319 S. Capitol St. SW, the building stands at 110 feet across 12 stories. Apartments at the property range from 444 to 1,850 square feet in one-, two- and three-bedroom layouts. Amenities at the development include a rooftop swimming pool, outdoor lounge areas, penthouse-level sky lounge, fitness center, coworking area, maker space, dog run, pet spa and 24-hour concierge service. The community is located one block from the Navy Yard-Ballpark Metro station and is proximate to Audi Field, The Yards, The Boilermaker Shops, the Navy Yard, the Southwest Waterfront and The Wharf.

January 19, 2024

Arkansas Development Multifamily Southeast

ERC, Tradewind to Develop 272-Unit Multifamily Community in Springdale, Arkansas

by John Nelson January 19, 2024

SPRINGDALE, ARK. — Arkansas-based ERC Holdings and Houston-based Tradewind Properties will develop a 272-unit multifamily community at Elm Springs Road and N. 48th Street in Springdale. Dubbed The Ramsay, the property will comprise 18 three-story buildings housing 143 one-bedroom apartments and 129 two-bedroom apartments. Amenities will include a café and lounge, 1,900-square-foot wellness center, pocket park, meditation room, dog park and a clubhouse. Pick-It Construction is the general contractor, and the architect is Rob Sharp. Completion of the first units is scheduled for fall of this year.

January 19, 2024

Acquisitions Florida Multifamily Southeast

JBM Brokers $66M Sale of Pearce at Pavilion Apartment Community in Tampa

by John Nelson January 19, 2024

TAMPA, FLA. — JBM Institutional Multifamily Advisors has brokered the $66 million sale of Pearce at Pavilion, an apartment community located along U.S. Road 301 in Tampa. California-based Passco Cos. was the seller. Situated on 13.7 acres, the community features 250 units averaging 949 square feet in one-, two- and three-bedroom layouts. Amenities at the community include a pool and hot tub with private cabanas, grilling stations, a 24-hour fitness center with a yoga studio, a clubhouse with a coffee bar, Wi-Fi café, business center, multimedia game room, Luxer One package room, fenced dog park with a pet wash and a lakeside walking trail. The buyer was not disclosed.

January 19, 2024

Development Florida Hospitality Mixed-Use Multifamily Retail Southeast Top Stories

LD&D Plans $200M Cass Square Mixed-Use Project in Tampa, Florida

by Jeff Shaw January 19, 2024

TAMPA, FLA. — LD&D, an investment, development and design firm headquartered in Miami, has unveiled plans for its $200 million Cass Square mixed-use project in downtown Tampa. LD&D plans to break ground on Phase I of the project, a luxury multifamily tower, this summer. The 28-story multifamily building will be called DoMo at Cass Square. The high-rise community will offer 360 units, as well as more than 45,000 square feet of amenities, a 586-space parking podium and 32,500 square feet of ground-floor retail. Planned amenities include a wellness area, 10,000 square feet of co-working space, a pickleball court and a sky lounge on the 26th floor. Future phases of Cass Square will include various retail offerings and a 10-story hotel. The development will also feature a pedestrian paseo connecting the residential and hotel sections with restaurants and other retail experiences. LD&D has partnered with Dynamic Group and Marriott to develop the hotel portion, which will be a 178-key Element by Westin property. Amenities will include a fitness center with food and beverage programs and a pool. Rooms will feature double-height ceilings and windows. The developers expect to break ground on the hotel by the end of the year. LD&D acquired …

January 19, 2024

Acquisitions Development Florida Industrial Southeast

Avison Young Negotiates Sale of 3,400-Acre Industrial Development Site in Central Florida

by John Nelson January 18, 2024

SUMTER COUNTY, FLA. — Avison Young has brokered the $40 million sale of Monarch Ranch, a 3,400-acre industrial development site in Central Florida’s Sumter County. University Park, Fla.-based Benderson Development purchased the land in partnership with The Villages, a census-designated place (CDP) situated at the north end of Sumter County and Marion County. The site is located near the convergence of I-75 and the Florida Turnpike within an hour’s drive of both Orlando and Tampa. Situated between Sumter County cities Wildwood and Coleman, the Monarch Ranch property use will continue as agriculture until possible large-scale industrial development plans are in place, according to Avison Young. Jay Ziv, Michael Fay, John Crotty, David Duckworth, Brian de la Fé and Greg Morrison of Avison Young marketed and brokered the sale of Monarch Ranch on behalf of the undisclosed seller as appointed by the court.

January 18, 2024

Acquisitions Georgia Retail Southeast

Nuveen Acquires 80,7480 SF Shopping Center in Metro Atlanta

by John Nelson January 18, 2024

PEACHTREE CITY, GA. — Nuveen Real Estate has acquired Peachtree Crossing, an 80,748-square-foot shopping center located in Peachtree City, roughly 30 miles outside Atlanta. Harbour Real Estate Partners sold the property for an undisclosed price. Brad Buchanan, Jim Hamilton and Andrew Michols of JLL represented the seller in the transaction. Built in 1978 and renovated in 2011, the center was fully leased at the time of sale to tenants including The Fresh Market, Peachtree City Eye Center, Bintelli Golf Carts, Heirloom Market, Mina’s Hallmark, Hollywood Feed, Campanile’s Home Inside & Out, Georgia Shrimp Co. and W. Daly Salon. Situated at 100 N. Peachtree Parkway, the center is located approximately 15 miles south of Hartsfield-Jackson Atlanta International Airport.

January 18, 2024

Development Industrial Loans South Carolina Southeast

IPA Arranges $23M Construction Loan for Industrial Project Near Charleston

by John Nelson January 18, 2024

SUMMERVILLE, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $23 million construction loan for the development of a 39-acre industrial park in the Charleston suburb of Summerville. Todd McNeill and Sunny Sajnani of IPA’s Dallas office arranged the three-year construction loan through Southern States Bank on behalf of the borrower, Atlanta-based Capital Development Partners. The loan was underwritten at a 65 percent loan-to-cost ratio. Boasso Global, a provider of cleaning, maintenance, storage and transportation services for the tank trailer and container industry, will occupy the park, which is located near I-26 and I-526 and a short drive to Port of Charleston’s North Charleston Terminal. The construction timeline was not disclosed.

January 18, 2024

Leasing Activity Maryland Office Southeast

Armada Hoffler Signs Law Firm to 10,000 SF Office Lease at Wills Wharf in Baltimore

by John Nelson January 18, 2024

BALTIMORE — Armada Hoffler has signed global law firm Duane Morris LLP to a nearly 10,000-square-foot office lease at Wills Wharf, a 325,000-square-foot mixed-use building in Baltimore’s Inner Harbor District. The office building is a component of Harbor Point, Armada Hoffler’s waterfront mixed-use campus. Peter Jackson, Tony Gross and Rob Freedman of JLL represented Armada Hoffler in the lease transaction, which brings Harbor Point’s office occupancy to 97.1 percent. David Fields of CBRE represented Duane Morris, which employs more than 900 attorneys in the United States and globally. Other tenants at Wills Wharf include Franklin Templeton, Transamerica, EY, Jellyfish and Bright Horizons. The building also houses a Canopy by Hilton hotel.

January 18, 2024

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