Southeast

First Solar Breaks Ground on $1.1B Manufacturing Facility in Iberia Parish, Louisiana

by Taylor Williams September 25, 2023

NEW IBERIA, LA. — First Solar Inc. (NASDAQ: FSLR), an Arizona-based provider of solar panels, has broken ground on a $1.1 billion manufacturing facility in New Iberia, located just southeast of Lafayette in the south-central part of Louisiana. The facility will be located on the grounds of Acadiana Regional Airport and will ultimately encompass more than 2 million square feet. The project, which local community leaders and members of the development team believe is the biggest in the history of the parish, is expected to generate about 700 new permanent manufacturing jobs within the local economy. First Solar anticipates that the plant will be fully operational and able to begin shipping products by the first half of 2026. When that scenario materializes, the company’s total manufacturing capacity will increase from 3.5 gigawatts to approximately 14 gigawatts in the United States and 25 gigawatts globally. At full capacity, the plant will be capable of churning out more than a dozen panels per minute. To secure the project in Iberia Parish, the State of Louisiana offered First Solar an incentives package that includes the workforce solutions of LED FastStart, a Louisiana Economic Development program for training and onboarding workers. Additional incentives include …

September 25, 2023

Florida Market Reports Retail Southeast Southeast Market Reports

Supply-Demand for Central Florida’s Retail Market Is Well-Balanced

by John Nelson September 25, 2023

The demand for retail space throughout Central Florida has been extremely high as new concepts are moving into the marketplace due to the mass exoduses from New York City and California. With the major population shift, we are running into the issue of limited supply to lease. Vacancy rates are currently projected at 3.8 percent, which is approximately 100 basis points below the 10-year historical average. Vacancy rates are projected to meet the mid-4 percent range by the end of 2023 due to the expected completion of more than 700,000 square feet of retail space during the fourth quarter, according to research from CoStar Group. Some developers are backing out of ground-up development deals due to the heightened labor and construction costs that every firm is experiencing. However, there are still some notable developments occurring in certain trade areas such as Minneola, Lake Nona, Apopka (Kelly Park) and Davenport, which are just some of the areas with projects expected to deliver in the fourth quarter of this year. These new ground-up projects require lessees to pay a higher rent to make these deals pencil out. The current average asking rate in Orlando is $27.77 per square foot, well ahead of …

September 25, 2023

Development Florida Multifamily Southeast

KABR Group, Klotz Open 456-Unit Reef Apartments in Jacksonville

by John Nelson September 22, 2023

JACKSONVILLE, FLA. — The KABR Group and The Klotz Group of Cos. have opened The Reef, a multifamily development in Jacksonville comprising 456 apartments and 30,000 square feet of dining and retail space. The property is located at 2753 Mayport Road, near Atlantic Beach, the Mayport Naval Station and Kathryn Abbey Hanna Park. The Reef comprises one-, two- and three-bedroom apartments that range in size from 690 to 1,242 square feet. Rental rates start at $1,575 per month for one-bedroom units, and the property is more than 50 percent leased. The Reef features a 13,000-square-foot, two-story glass and steel clubhouse that has a rooftop terrace, resort-style pool, espresso bar and lounge, bike parking station and a fitness center with a rock climbing wall and Peloton bikes. Other amenities include electric vehicle charging stations and a large dog park.

September 22, 2023

Development Georgia Industrial Southeast

LPC Southeast to Break Ground on 482,755 SF Distribution Center Near Savannah

by John Nelson September 22, 2023

BLOOMINGDALE, GA. — Lincoln Property Co. Southeast (LPC Southeast) is set to break ground this month on Bloomingdale Trade Center, a 482,755-square-foot distribution center near the Port of Savannah. Denton Shamburger, Turner Fortin and Colin Beecham of LPC Southeast are overseeing construction, marketing and leasing of the facility, which is expected to deliver in the fourth quarter of 2024. Located along Bloomingdale Road and two miles from I-16, Bloomingdale Trade Center will feature 36-foot clear heights, 80 dock-high doors, 121 trailer parking spaces, 266 auto parking spaces and dedicated tenant amenity areas. The project represents the first development in the Savannah market for LPC Southeast.

September 22, 2023

Development Multifamily North Carolina Southeast

Embrey to Develop 403-Unit North Tryon Apartment Community in Charlotte

by John Nelson September 22, 2023

CHARLOTTE, N.C. — Embrey plans to develop North Tryon, a 403-unit apartment community in Charlotte. The San Antonio-based developer recently acquired a seven-acre site in the city’s NoDa district for the development, its fourth in the Charlotte market. Embrey expects the clubhouse and first units at North Tryon to be available for occupancy in third-quarter 2025, with full completion slated for 2026. Amenities will include a clubhouse, game room, business center, micro-offices, conference room, fitness studio, outdoor grilling areas, outdoor gas fireplace, landscaped courtyard and a resort-style pool.

September 22, 2023

Acquisitions Hospitality North Carolina Southeast

Hunter Brokers Sale of 150-Room Canopy by Hilton Charlotte Hotel

by John Nelson September 22, 2023

CHARLOTTE, N.C. — Hunter Hotel Advisors has brokered the sale of Canopy by Hilton Charlotte, a 150-room hotel in Charlotte’s SouthPark submarket. Located at 4905 Barclay Downs Drive, the pet-friendly hotel features an onsite restaurant, fitness center and meeting rooms. The seller, Tara Investments, delivered the hotel in 2020. MCR Hotels acquired Canopy by Hilton Charlotte for an undisclosed price. Mayank Patel of Hunter represented the seller in the transaction.

September 22, 2023

Acquisitions Alabama Retail Southeast

JLL Arranges Sale of 280 Station Shopping Center in Birmingham

by John Nelson September 22, 2023

BIRMINGHAM, ALA. — JLL has arranged the sale of 280 Station, a 24,760-square-foot shopping center located in Birmingham. Tenants at the property, which was 91 percent leased at the time of sale, include Oasis Nails & Spa, Eyemart Express, Subway, Bedzzz Express, Isbell’s Jewelry, Budget Car Rental, Tint World, State Farm Insurance, Dunkin’ and Tao Massage. Jim Hamilton, Brad Buchanan and Anton Serafini of JLL represented the seller and procured the buyer, a real estate fund advised by Crow Holdings Capital. The seller and sales price were not disclosed.

September 22, 2023

Development Industrial South Carolina Southeast

Rockefeller Group Breaks Ground on 1 MSF Industrial Building in Spartanburg, South Carolina

by John Nelson September 21, 2023

SPARTANBURG, S.C. — Rockefeller Group has broken ground on Spartanburg 221, a 1 million-square-foot speculative industrial facility located in Spartanburg. The 87.7-acre project will be situated off Highway 221 and approximately one mile northwest of the I-85 Exit 78 interchange. Spartanburg 221 will include 40-foot clear heights, 56- by 53-foot column spacing, up to 530 parking spaces and up to 237 trailer stalls. The design-build team includes architect Atlas Collaborative and general contractor Pattillo Construction. Campbell Lewis and Marcus Cornelius of CBRE are handling the leasing assignment. The duo is also leasing Rockefeller Group’s Duncan Logistics Center, a nearby 827,000-square-foot development that is nearing completion. The developer acquired the Spartanburg site last year and plans to deliver the facility in fourth-quarter 2024.

September 21, 2023

Development Georgia Southeast Student Housing

PeakMade Real Estate, Blue Vista Open Theory Interlock Student Housing Property in Atlanta

by John Nelson September 21, 2023

ATLANTA — A partnership between PeakMade Real Estate and Blue Vista Capital Management has opened Theory Interlock, a 674-bed student housing community located near the Georgia Tech campus in Atlanta’s West Midtown neighborhood. The property offers fully furnished apartments and townhomes in studio through five-bedroom configurations. Shared amenities include a rooftop swimming pool and fitness center with an outdoor jumbotron theater; an academic lounge with group and individual study spaces; podcast rooms; a large club room; two outdoor courtyards; and structured parking. Theory Interlock is part of the second phase of development at Interlock Tower, a larger mixed-use project. The development is also home to 200,000 square feet of office space, 100,000 square feet of retail and restaurants, 349 traditional multifamily units, 70 townhomes and a 161-room hotel. Atlanta-based SJC Ventures is the master developer of The Interlock.

September 21, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

First Round of Retail Tenants Sign Leases at Nora Development in Downtown West Palm Beach

by John Nelson September 21, 2023

WEST PALM BEACH, FLA. — The first round of retail and restaurant tenants have signed leases to join the commercial district at Nora, a mixed-use development underway in downtown West Palm Beach. A partnership between West Palm Beach-based NDT Development, Miami-based Place Projects and Greenwich, Conn.-based Wheelock Street Capital is developing Nora. The lineup of new tenants includes three food-and-beverage concepts: Loco Taqueria & Oyster Bar, H&H Bagels and Van Leeuwen Ice Cream. The roster will also include two fitness concepts: [solidcore] and Rumble Boxing. The first phase of Nora will comprise 25 eateries and several shops and wellness concepts along North Railroad Avenue. Nora will also include boutique and creative offices and a 201-room hotel that will be developed by a partnership between BD Hotels and Sean MacPherson.

September 21, 2023

Newer Posts

Older Posts