Southeast

Divaris Arranges $18.4M Sale of Merchant’s Walk Shopping Center in Metro Richmond

by John Nelson September 19, 2023

HENRICO, VA. — Divaris Real Estate has arranged the $18.4 million sale of Merchant’s Walk Shopping Center, a 219,972-square-foot retail center located at 7580 W. Broad St. in Henrico. Situated about 10 miles northwest of Richmond, Merchant’s Walk was 97 percent leased at the time of sale to 38 retailers, including anchors Food Lion, AutoZone and JoAnn Fabric and Craft. Local investment firm Qi Lin purchased the 20-acre property from the undisclosed seller. John Madures of Divaris represented the buyer in the transaction. Qi Lin has retained Divaris to lease Merchant’s Walk, which has two retail availabilities, as well as affiliate Divaris Property Management Corp. to operate the center.

September 19, 2023

Georgia Leasing Activity Office Southeast

CP Group Signs Two New Tenants at 3225 Cumberland Office Building in Atlanta

by John Nelson September 19, 2023

ATLANTA — CP Group has signed leases with two new tenants at its 220,000-square-foot office building located at 3225 Cumberland Blvd. in Atlanta. Steam Logistics and National Endovascular Associates will occupy 10,900 and 6,144 square feet at the nine-story property, respectively. Amenities at the building, which is located roughly one mile from Cobb Galleria Centre and two miles from Truist Park, include a fitness center, shared conference rooms, transportation lounge and 24-hour security. Paul Hanna of JLL represented Steam Logistics in the lease negotiations, and Bill Langley of DT Spade represented National Endovascular Associates. Kevin Driver and Parker Welton of Stream Realty Partners represented the Boca Raton, Fla.-based landlord in both transactions.

September 19, 2023

Acquisitions Georgia Healthcare Southeast

Bull Realty Brokers $5.9M Sale of Two-Property Medical Office Building Portfolio in Metro Atlanta

by John Nelson September 19, 2023

DULUTH AND SUWANEE, GA. — Atlanta-based Bull Realty Inc. has brokered the $5.9 million sale of a two-property medical office building portfolio in metro Atlanta. The single-tenant assets, located at 3850 Pleasant Hill Drive in Duluth and 3770 Paddocks Parkway in Suwanee, were fully leased to Anne Arundel Dermatology at the time of sale. The buyer was a partnership between two entities doing business as GB Derm Medical LLC and Safe Harbour Exchange LLC. Paul Zeman of Bull Realty’s Healthcare Services Group represented the seller, an unnamed high-net-worth individual.

September 19, 2023

Content Partner Features Midwest Multifamily Northeast Pavlov Media Southeast Student Housing Texas Western

Multifamily Must Innovate, Adapt Now to Anticipate Resident Connectivity Demands

by Sarah Daniels September 19, 2023

“Traditional wired and wireless networks are becoming faster and more reliable with each new standard on the market,” says Pavlov Media CEO Cory Douglas. “We’re seeing multifamily consumers extend these data networks well beyond the need for just for voice and video. There are all kinds of new demands on multi-dwelling units (MDUs) for integrating Internet of Things (IoT), life safety and power and water management systems into traditional data networks.” For more than 30 years, Pavlov Media has been the leading national provider of residential Wi-Fi service, and now, with Douglas as the company’s newly named CEO, Pavlov Media has plans to build on its success through its unique technology and its eye on the innovation required by multifamily’s evolving needs. Douglas, promoted to replace retiring founder and CEO Mark Scifres, says what sets Pavlov Media apart is its ability to rapidly implement broadband Wi-Fi and video solutions for any style of community, located in any part of the country. “That capability is really driven by the investments in our back office, technology and engineering workflows that we’ve developed over time,” Douglas explains. “It’s our goal to make the purchasing and deployment experience easy for our customers. It’s done …

September 19, 2023

Company News Georgia Office Southeast

US Soccer to Relocate from Chicago to Atlanta, Build National Training Center

by John Nelson September 18, 2023

ATLANTA — The U.S. Soccer Federation has announced plans to develop a National Training Center in Atlanta, relocating the organization’s headquarters from Chicago. The center will be utilized by all of the 27 U.S. Soccer National Teams. Philanthropist and owner of the Atlanta Falcons and Atlanta United Arthur Blank has contributed $50 million to support the development of the center. Part of the contribution will be dedicated to the construction of facilities for U.S. Soccer’s nine Extended National Teams (ENTs), particularly the Cerebral Palsy, Deaf and Power Soccer teams. Support from the Arthur M. Blank Family Foundation will also provide community programming. Advised by Deloitte, J.T. Batson, CEO and secretary general of U.S. Soccer, is leading the search for a site in metro Atlanta. A final decision on the location for the development will be made in January.

September 18, 2023

Development Florida Industrial Southeast

Geis, Stonemont Financial Complete 500,000 SF Industrial Project in Fort Myers, Florida

by John Nelson September 18, 2023

FORT MYERS, FLA. — Geis Development has completed the construction of two identical industrial warehouses totaling 500,000 square feet at 16670 Oriole Road in Fort Myers. Dubbed Legacy 500K, the project was developed in partnership with Stonemont Financial Group. Each building totals 250,000 square feet and features 32-foot clear heights and ESFR sprinkler systems. The speculative warehouses can each accommodate tenant occupancies ranging from 37,000 square feet to 250,000 square feet. Clive Daniels, a furnishing and design company, will occupy 175,000 square feet of Building One, which features 21 dock doors and 39 trailer spaces.

September 18, 2023

Development Multifamily North Carolina Southeast

Canyon, NRP to Develop 392-Unit Multifamily Community in Charlotte

by John Nelson September 18, 2023

CHARLOTTE, N.C. — Canyon Partners Real Estate and The NRP Group have formed a joint venture for the development of Abernethy Lofts, a 392-unit multifamily community to be located in Charlotte’s NoDa neighborhood. Upon completion, which is scheduled for the second quarter of 2026, the property will feature structured parking with 509 spaces, as well as a pool, pizza and grilling stations, work pods, a garage with electric bikes, fitness center and a dog park. Canyon has provided $35.9 million of limited partner financing for the project and previously collaborated with NRP in February for the development of South Tryon, a residential community in Charlotte’s South End.

September 18, 2023

Development Georgia Multifamily Southeast

RangeWater to Break Ground on 304-Unit Apartment Community in Metro Atlanta

by John Nelson September 18, 2023

DORAVILLE, GA. — RangeWater Real Estate will break ground on Camino, a 304-unit apartment community to be located at 3712 Stewart Road in Doraville, roughly 15 miles northeast of Atlanta. Scheduled for completion in spring 2025, the development will feature micro, studio, one-, two- and three-bedroom apartments ranging from 474 to 1,411 square feet. Amenities at the property will include a dog park and spa, pool courtyard, coworking offices with a dedicated podcast recording space, an outdoor grilling station, fitness center, rooftop lounge and a private speakeasy. This marks the fourth project for RangeWater’s in-house construction firm.

September 18, 2023

Florida Leasing Activity Office Southeast

JLL Arranges Office Lease at 470,000 SF Riverplace Tower in Jacksonville

by John Nelson September 18, 2023

JACKSONVILLE, FLA. — JLL has arranged a new lease at Riverplace Tower, a 470,000-square-foot office property located at 1301 Riverplace Blvd. in Jacksonville. Rogers Towers, a law firm, will occupy two floors at the tower through 2037, with the possibility of an extension. Acram Group is the landlord at the property, which is currently undergoing a $10 million capital improvement plan. Michael Loftin and Jesse Shimp of JLL represented Acram in the leasing lease negotiations. Jim Sebesta of Newmark Phoenix Realty Group represented the tenant.

September 18, 2023

Florida Market Reports Office Southeast Southeast Market Reports

Orlando Tenants Are Attracted to Quality Office Space as Rental Rates Rise

by John Nelson September 18, 2023

The Orlando office market saw improved office activity in the second quarter after a somewhat slow start to the year. Quarter-over-quarter, the average deal size rose by 11.2 percent with Downtown, South Orlando and East Orlando as the three submarkets benefitting from an increase in office leasing activity. The majority of institutional landlords in downtown Orlando are some of the early adopters of flight-to-quality phenomenon, and as a result, tenants from other submarkets have shifted their focus to the city’s Central Business District (CBD). On the other hand, South Orlando enjoys a built-in advantage of having perhaps the greatest number of restaurant options in the greater Orlando area, with easy access to both Sand Lake Road and Millenia Mall areas offering various food options. The need to be co-located with some of the military branches located in Central Florida Research Park drives many simulation and military/defense sector tenants to seek office space in East Orlando, also providing nearby access to the University of Central Florida. Aside from geographical location, more and more tenants are seeking out higher-quality office space while rightsizing their footprint. This is predominantly fueled by flex/remote office schedules combined with the need for employers to provide an …

September 18, 2023

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