DURHAM, N.C. — Choate Construction Co., on behalf of White Point, has broken ground on a 160,000-square-foot mixed-use project located within Durham’s Research Triangle Park (RTP). Dubbed Horseshoe, the development will feature two single-story pavilions flanking a five-story office tower with ground-floor retail space. The property will also include a 315,000-square-foot precast parking deck with 1,000 parking spaces. Duda|Paine Architects is the designer on Horseshoe, which will anchor the HUB RTP campus. A construction timeline was not disclosed.
ATLANTA — C3 (Creating Culinary Communities), a food technology platform, and Legends have announced plans for Citizens Market, a 25,000-square-foot food hall set to open at Phipps Plaza in Atlanta in April. Featured eateries at the food hall will include Umami Burger, Krispy Rice, Sam’s Crispy Chicken, Kumi, Sa’Moto, EllaMia, Cicci di Carne, Plant Nation, El Pollo Verde, Stonie Bowls, Frankly by Snap-O-Razzo, Tastemade Me Tacos and Citizens Pizza. The joint venture also has culinary markets planned for this year in Chicago and Miami, as well as a food hall set to open in London next year.
CHARLOTTE, N.C. — Crescent Communities and Nuveen Real Estate are underway on the construction of Monarch Market, an 18,000-square-foot food hall located within One Independence Center in Charlotte. Hospitality HQ will operate the space, which is scheduled to open later this year and will feature 12 food stalls, one full-service restaurant, three bars and a private event space. The event space will include a cocktail lounge with outdoor space, semi-private space available for reservations and an indoor/outdoor bar. Food delivery and access to the tenant lounge will also be available to those who work at One Independence Center. Elmer Design is the architect and interior designer on the project, with JE Dunn serving as the general contractor. Cushman & Wakefield is providing consulting services, and PNC Bank, U.S. Bank and First National Bank of Pennsylvania have provided financing.
HUNTERSVILLE, N.C. — Trinity Capital Advisors has leased Interchange Logistics Center, a 224,797-square-foot industrial building located in Huntersville, roughly 15 miles north of Charlotte. Orbus Holdings, a lightbox and display manufacturer operating as SEG Systems, will occupy the entire building on a 10-year lease. Construction of the center is scheduled for completion in May, with the tenant upfit to be completed in the fourth quarter of this year. Adam Green of Stream Realty Partners represented Orbus Holdings in the lease negotiations. Spencer Yorke and Brad Cherry of JLL represented ownership.
SPRING HILL, FLA. — Associated Bank has provided an $8.6 million loan to an affiliate of Metro Storage LLC for the construction of a self-storage facility located in Spring Hill. Upon completion, the development will comprise 62,856 square feet across 543 units, 504 of which will be climate-controlled. The property will also feature 83 covered and 31 uncovered RV and boat parking spaces. Edward Notz of Associated Bank’s Commercial Real Estate Division originated the loan.
NASHVILLE, TENN. — Convexity Properties has broken ground on 5 City Blvd, a 15-story office tower within the ONEC1TY master-planned development in Nashville. The 300,000-square-foot building will be situated at the intersection of City and Charlotte avenues, roughly two miles outside of Nashville’s Central Business District and near I-40 and I-440. In addition to upscale offices, 5 City Blvd will feature 17,000 square feet of ground-level retail space, 900 parking spaces, electric vehicle charging stations and fiber optic connectivity. The design-build team includes architect Goettsch Partners and general contractor JE Dunn. Goldman Sachs provided an undisclosed amount of construction for the project. Convexity has tapped Frank Thomasson and Byran Fort of CBRE to lease 5 City Blvd, which is set for a fourth-quarter 2024 delivery.
MIAMI — Berkadia has arranged a $113 million loan to refinance Gateway at Wynwood, a 220,000-square-foot office building located at 2616 N. Miami Ave. in Miami that opened last year. Charles Foschini, Christopher Apone and Robert Iudice of Berkadia’s South Florida office arranged the loan through A10 Capital on behalf of the borrower and developer, New York-based Rose & Berg Realty Group LP. The three-year loan features two one-year extension options. Berkadia also secured the original construction loan for the project in early 2020 through lender 3650 REIT. Designed by Kobi Karp, Gateway at Wynwood features a private rooftop terrace, 512 onsite parking spaces and 24,000 square feet of ground-level retail space. Existing office tenants include BoConcept, OpenStore and Veru, among others.
ANNAPOLIS, MD. — SJC Ventures has announced 11 new tenants joining Beacon Square, a mixed-use development underway in Annapolis. New tenants signing leases include Arhaus, Circa Lighting, Firebirds Wood Fired Grill, Mighty Quinn’s BBQ, Meg Fox Aesthetics, GNC, Aspen Dental, Inspire Nails, Cold Stone Creamery, Eggspectation and Jersey Mikes. The first openings are projected for late 2024. Additionally, Beacon Square will be anchored by a 43,000-square-foot grocery tenant that has not yet been announced. Atlanta-based SJC Ventures has tapped Ray Schupp, Suzanne Katz and Bryan Davis of H&R Retail to lease Beacon Square. In addition to the 52,000 square feet of shops and restaurants, Beacon Square will feature office space and 508 multifamily units. SJC Ventures and partner AvalonBay Communities purchased the land in early 2022 and began construction last August.
CLEMSON, S.C. — Eric Newton Real Estate has sold Cambridge Creek Clemson, a 380-bed student housing community located near Clemson University in South Carolina. The property offers 132 townhome units in three- and four-bedroom configurations. Shared amenities include a resort-style swimming pool and tanning deck with cabanas; bathhouse; outdoor pavilion with TVs; and a clubhouse with study lounges, a coffee bar and fitness center. The buyer and terms of the off-market transaction were not disclosed.
GONZALES, LA. — J.W. Logistics LLC, a last-mile delivery firm based in Texas, has signed a 30,120-square-foot lease at Pelican Point Commerce Center, a 32-acre industrial park in Gonzales. The tenant will occupy space at 8200 Highway 44, which fronts I-10 adjacent to the Louisiana Regional Airport. The facility features 16-foot clear heights, rear dock doors and surface parking spaces. The Gonzales site marks the third location for J.W. Logistics in Louisiana as the firm has existing locations in Baton Rouge and Shreveport. Kent McCoy of Centric Commercial represented the tenant in the lease negotiations. Todd Pevey represented the landlord, Baltimore-based St. John Properties, on an internal basis. St. John Properties is underway on the buildout of Pelican Point Commerce Center, which will span 265,000 square feet of flex industrial space upon completion. The developer has delivered approximately 100,000 square feet at the park to-date and is currently developing an 83,000-square-foot high-bay warehouse.