Southeast

SRS Real Estate Negotiates $94M Sale of Seven EoS Fitness-Occupied Properties in Arizona, Florida

by Amy Works August 16, 2023

ARIZONA AND FLORIDA — SRS Real Estate Partners has arranged the sale of seven single-tenant EoS Fitness properties in Arizona and Florida for a combined purchase price of $94 million. Barclay Group sold the properties to a publicly traded REIT. Patrick Nutt and William Wamble of SRS Capital Markets represented the seller. Tyler McRae of SRS, along with Echelon Realty Advisors, were responsible for leasing the assets on behalf of EoS Fitness. The portfolio comprises three new-construction gyms that opened in 2023, as well as four formerly vacant grocery stores that are currently undergoing redevelopment. All of the properties have 15-year, corporate-guaranteed, triple-net leases in place with scheduled rental increases. The properties include:

August 16, 2023

Acquisitions Florida Illinois Midwest Retail Southeast Top Stories

Aldi to Acquire Winn-Dixie, Harveys Supermarket from Southeastern Grocers

by Kristin Harlow August 16, 2023

BATAVIA, ILL. AND JACKSONVILLE, FLA. — German discount grocer Aldi has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Jacksonville-based parent company Southeastern Grocers to various entities. Financial terms of the transaction were not disclosed. The Southeast-focused acquisition includes approximately 400 Winn-Dixie and Harveys locations across Alabama, Florida, Georgia, Louisiana and Mississippi. Aldi, which maintains its U.S. headquarters in Batavia, Ill., first established its presence in the Southeast in the mid-1990s and has since invested $2.5 billion in the region. Most recently, Aldi opened its 26th regional headquarters and distribution center in Loxley, Ala., to help support new stores in the region. The retailer plans to open 20 new locations in the area by the end of the year. Jason Hart, CEO of Aldi, says the acquisition supports Aldi’s long-term growth strategy across the country. The grocer plans to open 120 new stores this year to reach a total of more than 2,400 stores by year’s end. Aldi will evaluate which Winn-Dixie and Harveys locations will be converted into Aldi stores. The stores that are not converted will continue to operate under the Winn-Dixie and Harveys brands. Deutsche Bank served …

August 16, 2023

Build-to-Rent Development Loans Multifamily North Carolina Single-Family Rental Southeast

Cushman & Wakefield Arranges $62M Construction Financing for Multifamily Development in Leland, North Carolina

by John Nelson August 15, 2023

LELAND, N.C. — Cushman & Wakefield has arranged $62 million in construction financing for The Village at Compass Pointe, a 268-unit multifamily development coming to a 25-acre site in Leland, about 10 miles west of Wilmington, N.C. The property will feature 140 single-family rental townhomes and 128 traditional apartments in two four-story, elevator-serviced buildings. Gideon Gil, Zachary Kraft, Sebastian Sanchez and Dale Braverman of Cushman & Wakefield originated the loan through Dwight Mortgage Trust on behalf of the borrowers, SR Real Estate Partners and Circle Squared Alternative Investments. Upon completion, Village at Compass Pointe will feature two clubhouses, cabana pools and pickleball courts. The first units are expected to be delivered in January 2025.

August 15, 2023

Acquisitions Georgia Retail Southeast

Atlantic Capital Partners Brokers $17.5M Sale of Kroger-Anchored Shopping Center in Cumming, Georgia

by John Nelson August 15, 2023

CUMMING, GA. — Atlantic Capital Partners has brokered the $17.5 million sale of Sharon Greens, a Kroger-anchored shopping center located in Cumming, a northern suburb of Atlanta. Justin Smith, Fred Victor, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the institutional seller and secured the buyer, a joint venture between ShopOne Centers REIT Inc., Pantheon and an unnamed global institutional investment firm. Built in 2001, Sharon Greens spans 98,301 square feet and was 98 percent leased at the time of sale to 21 tenants, including Kroger, Chase Bank and Heartland Dental. The property is located at the intersection of Sharon Road and Peachtree Parkway.

August 15, 2023

Development Florida Industrial Southeast

Seagis Property Group Nears Completion of 118,000 SF Industrial Facility Near Miami International Airport

by John Nelson August 15, 2023

DORAL, FLA. — Pennsylvania-based Seagis Property Group is nearing completion of a 118,000-square-foot warehouse project near the cargo entrance of Miami International Airport. The speculative facility, which is estimated as being 75 percent complete, is located at 8315 N.W. 27th St. in Doral. Situated within Transal Park, the rear-load warehouse will feature 32-foot clear heights, 32 dock doors and 110 automobile parking spaces. Sebastian Juncadella and Jose Juncadella of Fairchild Partners are marketing the project for lease on behalf of Seagis, which expects to deliver the property by the end of the year.

August 15, 2023

Development Florida Restaurant Retail Southeast

Barron Colliers Breaks Ground on 21,000 SF Retail Strip Center in Southwest Florida

by John Nelson August 15, 2023

AVE MARIA, FLA. — Barron Collier Cos. has broken ground on a new 21,000-square-foot retail strip center in Ave Maria, a master-planned community in Southwest Florida. Located at the corner of Ave Maria Boulevard and Anthem Parkway, the property will house NCH Immediate Care Center, Ace Hardware, Dunkin’, Ledo Pizza and Cold Stone Creamery. Barron Colliers plans to open the retail center in summer 2024. According to the Naples, Fla.-based developer, about 430 homes have been sold in the Ave Maria community so far this year.

August 15, 2023

Georgia Leasing Activity Mixed-Use Office Southeast

Solar Energy Company Signs Office Lease at Brickworks in Atlanta for New Headquarters

by John Nelson August 15, 2023

ATLANTA — Cherry Street Energy, an Atlanta-based solar energy company, has signed a new office lease at Brickworks, a 194,000-square-foot mixed-use development in Atlanta’s West Midtown district. The landlord, Asana Partners, signed the tenant to a 13,600-square-foot lease. Cherry Street Energy is relocating its headquarters to the Brickworks location and will bring over 50 employees, as well as install solar panel and electric vehicle charging stations. The firm, which previously occupied 1,500 square feet, recently received a $40 million investment to expand its footprint and hire new staff. Cherry Street Energy will utilize the space at Brickworks for both office space and research-and-development. Joey Kline and Terry McGuirk of JLL represented Cherry Street Energy in the lease negotiations. Bennett Gottlieb of Capital Real Estate Group represented Asana Partners.

August 15, 2023

Development Georgia Multifamily Southeast Top Stories

CA Ventures Opens 33-Story 903 Peachtree Apartment Tower in Midtown Atlanta

by John Nelson August 15, 2023

ATLANTA — CA Ventures, a Chicago-based real estate investment and development firm, has opened 903 Peachtree, a 33-story apartment tower in Midtown Atlanta. The high-rise comprises 427 luxury apartments, high-end amenities and 9,000 square feet of retail space. “We are thrilled to celebrate the grand opening of 903 Peachtree, a landmark achievement for CA Ventures as our first residential building in Georgia,” says Jack Duncan, executive vice president of operations for CA Ventures. “This luxury building embodies our commitment to delivering exceptional living spaces and amenities that enhance the lives of our residents. We are excited to introduce this remarkable community to the vibrant neighborhood of Midtown Atlanta.” The development team includes Diamond Realty Investments Inc., a capital investor with offices in metro Dallas and Los Angeles, and Cartel Properties, an Atlanta-based urban development firm. Cartel is both a development partner and is leading the retail leasing assignment on behalf of the ownership group. Lincoln Property Co. is the property manager. 903 Peachtree features studios, one-, two- and three-bedroom apartments. According to the property website, units range in size from 300 to 1,884 square feet and monthly rental rates range from $1,410 to $8,192. The website also says renters can …

August 15, 2023

Roxann Campbell Pavlov Media Multifamily Wi-Fi

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

Pavlov Media Delivers, Manages Optimal Wi-Fi Service for Multifamily Residents

by Sarah Daniels August 15, 2023

Day-to day life as a property manager in both a conventional multifamily building and student housing can be unpredictable. Hiring and staffing issues can plague many operators, resulting in the need to wear many different hats. These different hats can make it difficult for staff to fully address all of the residents’ needs. Managing a Wi-Fi system — perhaps the most crucial technology platform at any community — is one duty that the onsite team can happily offload to a third-party provider. Reliable Managed Wi-Fi Systems Roxann Campbell, vice president of regional sales at Pavlov Media, says today’s Internet-connected culture has increased the need for residents to have an absolutely reliable managed Wi-Fi system. Pavlov Media (which provides Wi-Fi & fiber services to multifamily and student properties) is an Internet service provider (ISP) that can establish connectivity throughout entire buildings while managing Internet for all of a property’s residents. This managed Wi-Fi approach benefits the buildings’ owner-operators because it offers a planned strategy for wiring and Wi-Fi signals. Routers aren’t competing against each other, as they can in communities that give their residents the option to sign up with any number of competing Internet providers. “Bulk managed Wi-Fi provides residents …

August 15, 2023

Acquisitions Florida Seniors Housing Southeast

Grandbridge Arranges Sale of Three Seniors Housing Communities in Florida

by John Nelson August 14, 2023

BROOKSVILLE, LAKE PLACID AND SPRING HILL, FLA. — Grandbridge Real Estate Capital has arranged the sale of three seniors housing communities in Florida on behalf of a national REIT. Florida-based TJM Properties Inc. acquired two of the properties: The Grande, a 144-unit independent living, assisted living and memory care community in Brooksville, and Balmoral, a 125-unit assisted living and memory care community in Lake Placid. An undisclosed, Florida-based buyer purchased the third property — Forest Oaks, an 80-unit assisted living and memory care community in Spring Hill. This sale completes the disposition of a portfolio totaling eight properties that Grandbridge arranged for the seller. Dave Kliewer and Jay Jordan led the Grandbridge team in selling the communities.

August 14, 2023

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