Southeast

NAI Columbia Sells 40,883 SF Retail Center in Columbia, South Carolina

by John Nelson February 10, 2023

COLUMBIA, S.C. — NAI Columbia has sold a 40,883-square-foot retail center located at 3900 N. Main St. in Columbia’s NOMA District for an undisclosed price. Dubbed the “Ultra Hub,” a 30,000-square-foot O’Reilly Auto Parts store, warehouse and distribution center anchors the property. North Main Kidney Center and TitleMax are also tenants at the shopping center. NAI Columbia’s development team purchased the property, formerly home to a BI-LO grocery store, in December 2021 before making extensive renovations. Ben Kelly and Patrick Chambers of NAI Columbia brokered the sale to the undisclosed buyer.

February 10, 2023

Development Industrial South Carolina Southeast

Pomega Energy Storage Breaks Ground on $300M Lithium Battery Plant Near Charleston

by John Nelson February 9, 2023

WALTERBORO, S.C. — Pomega Energy Storage Technologies, a subsidiary of Kontrolmatik Technologies, has broken ground on its first U.S. lithium-ion battery manufacturing plant in South Carolina. The company will invest $300 million in upfront capital expenditures in the new facility in Walterboro, a suburb of Charleston in Colleton County. Pomega Energy Storage expects to begin production at the 500,000-square-foot facility in mid-2024, create about 575 new jobs and have an initial production capacity of 3 gigawatt-hours (GWh) — with plans to later increase capacity to 6 GWh with future development on the site. In addition to manufacturing the battery cells at the South Carolina plant, Pomega Energy Storage will also manufacture and assemble turnkey battery energy storage systems, including modules, cabinets and final containerized energy storage solutions. JLL led the site selection process for Pomega Energy Storage, which considered more than 200 locations before selecting the Colleton County site.

February 9, 2023

Alabama Florida Industrial Loans Maryland North Carolina Southeast

JLL Arranges $193M Refinancing for Industrial Portfolio in Sun Belt, Mid-Atlantic

by John Nelson February 9, 2023

MIAMI — JLL has arranged a $193 million permanent loan for the refinancing of a nine-property industrial portfolio totaling 1.7 million square feet. The properties are located on infill sites in South Florida, Texas, North Carolina, Alabama and Maryland. Chris Drew, Melissa Rose and Christopher Gathman of JLL arranged the five-year, fixed-rate, non-recourse loan through TIAA Bank on behalf of the borrower, Adler Real Estate Partners. The assets were constructed between 1981 and 2001 and were leased to 145 separate tenants at the time of financing. The properties included: • Riverchase Center in Hoover, Ala. • 1001 Broken Sound Parkway in Boca Raton, Fla. • Prospect Park I & II in Fort Lauderdale, Fla. • Delray North Business Center in Delray Beach, Fla. • Rivers Business Park I & II in Columbia, Md. • South Point Business Park in Charlotte, N.C. • Parkwest I & II in Raleigh, N.C. • Addison Tech Center in Addison, Texas • Kramer 1-5 at Braker Center in Austin, Texas

February 9, 2023

Development Florida Leasing Activity Mixed-Use Office Southeast

Terra, Blanca Begin Leasing Offices at Mixed-Use Development in Miami’s Bay Harbor Islands District

by John Nelson February 9, 2023

MIAMI — Locally based developer Terra and brokerage firm Blanca Commercial Real Estate have launched leasing at The Offices at THE WELL, the office component of THE WELL Bay Harbor Islands mixed-use project located at 1177 Kane Concourse in Miami. Tere Blanca, Danet Linares, Christina Jolley and Nicole Kaiser of Blanca Commercial Real Estate have begun leasing the building’s 98,420 square feet of office space, which is spread across four floors. In addition to offices, THE WELL Bay Harbor Islands will also feature 54 luxury residences and 11,000 square feet of wellness space operated by New York-based THE WELL that includes a fitness center, concierge services, indoor and outdoor classes and onsite sessions with a health coach. Other amenities include a 6,500-square-foot food-and-beverage outlet, elevated plaza, rooftop and a parking garage. Terra plans to break ground on the mixed-use development in the first quarter with completion anticipated for late 2024. The design team includes architect Arquitectonica and interior designer Meyer Davis.

February 9, 2023

Acquisitions Hospitality Mississippi Southeast

Hodges Ward Elliott Brokers Sale of 80-Room Hampton Inn Hotel in Canton, Mississippi

by John Nelson February 9, 2023

CANTON, MISS. — Hodges Ward Elliott has brokered the sale of an 80-room Hampton Inn hotel located in Canton, about 30 miles north of Jackson, Miss. B.J. Patel, Clint Hodges and Michael Brandes of Hodges Ward Elliott represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed. Built in 2004 along I-55, the Hampton Inn Canton hotel features a business center, outdoor pool, fitness center, complimentary breakfast and connecting rooms.

February 9, 2023

Acquisitions Georgia Retail Southeast

Northmarq Arranges $3.3M Sale of Governor’s Walk Shopping Center in Peachtree City, Georgia

by John Nelson February 9, 2023

PEACHTREE CITY, GA. — Northmarq has arranged the $3.3 million sale of Governor’s Walk, a 21,280-square-foot shopping center located at 1980 GA Highway 54 in Peachtree City. The property was fully leased at the time of sale to Car Wash, Donut Shop, Peachtree Pawn, Fresh Smoothie Café, Mary Nails, Curves, Carolina Hemp Co., Southern Crescent Spa, Peachtree Wax Studio, La Plaza R&R Inc., Flooring Store, Men’s World Barber, Rene’e Paige Salon and M&R Alterations. Jeff Enck of Northmarq represented the Florida-based seller in the transaction, as well as the California-based 1031 exchange buyer.

February 9, 2023

Development Mixed-Use Southeast Tennessee Top Stories

Chartwell Hospitality, Southstar Break Ground on $500M Aureum Mixed-Use Development Near Nashville

by John Nelson February 9, 2023

FRANKLIN, TENN. — A joint venture between locally based developers Chartwell Hospitality and Southstar has broken ground on Aureum, a $500 million mixed-use development located in the Nashville suburb of Franklin. Situated in the city’s Cool Springs district, the 22-acre development will feature residences, shops, restaurants, entertainment venues, offices and two hotels, as well as five acres of open space featuring parks and trails. “We are the first to market with an all-in-one entertainment, hospitality and residential community that hasn’t been seen before in this area,” says Rob Schaedle, president of Chartwell Cos. “Studies done by the city predict Cool Springs will be the gateway to a popular and highly accessible submarket of Franklin, and we expect Aureum to be a popular choice for residents.” Aureum, which is Latin for “golden,” was originally announced in summer 2019. No construction timeline was given for the development, which will be completed in phases. Aureum will be situated at the southwest corner of Carothers Parkway and McEwen Drive, a site the co-developers are calling the “golden corner” of Cool Springs. The vertically integrated mixed-use project will reach 12 stories and contain housing, commercial office space and entertainment venues. Phase I will feature 355 …

February 9, 2023

Features Georgia Self-Storage Southeast Southeast Feature Archive

Demand for Self-Storage Remains Intact, but Threats of Oversupply Loom

by John Nelson February 9, 2023

The self-storage sector has historically been considered resilient and recession-resistant. This year, key trends are already emerging that will contribute to the health and performance of this $80 billion industry. Despite risks of oversaturation in some urban markets, 2023 promises to be a strong year for self-storage investments. Shined-up facilities What started in early 2000s continues to today. Where decrepit, one-story metal buildings with chain-link fences were the standard, now high-caliber, well-designed and polished facilities dot the landscape. Today, new development is almost exclusively Class A product. Intown and suburban communities demand it. And customers now expect professional lobbies with music and complimentary snacks and beverages, staffed by knowledgeable and skilled managers selling space that is clean, bright and secure. The once red-headed stepchild of commercial real estate is now the belle of the ball. The proof can be seen in the fervent attention from public REITs and private equity firms. Blackstone Real Estate Income Trust grabbed headlines in 2020 with its acquisition of Simply Self Storage for $1.2 billion. Smaller, yet just as notable, transactions also support increased valuation. In 2022, Space Shop Self Storage, one of the top 20 self-storage operators in the United State, sold two portfolios …

February 9, 2023

Development Mixed-Use North Carolina Southeast

Trammell Crow Co. Tops Out 400H Mixed-Use Project in Downtown Raleigh

by John Nelson February 8, 2023

RALEIGH, N.C. — Trammell Crow Co. (TCC) has topped out 400H, a 365,000-square-foot mixed-use development located at 400 Hillsborough St. in downtown Raleigh. Set to open this summer, the project will include 150,000 square feet of Class A office space, 242 residential units and 16,000 square feet of ground-floor retail space. Amenities will include conference space and an outdoor terrace for office tenants, a shared fitness center and an outdoor swimming pool for residents. The development team includes TCC affiliate High Street Residential, AECOM-Canyon Partners and HM Partners. The design-build team includes architect Gensler and general contractor Barnhill Contracting Co. CBRE will oversee property management for 400H. John MacDonell and Mimi Portratz of JLL are handling office leasing, and John Koonce of York Properties is handling the retail leasing assignment.

February 8, 2023

Acquisitions Development Florida Mixed-Use Southeast

Berkadia Arranges $39.5M Land Sale in Miami, Buyer Plans Mixed-Use Tower

by John Nelson February 8, 2023

MIAMI — Berkadia has arranged the $39.5 million sale of a one-acre, opportunity zone-designated site at 533 N.W. 2nd Ave in Miami, across from the Miami Central Brightline station. The buyer, Chicago-based The John Buck Co., is making its entry into the South Florida market with this land acquisition. The company is leading a joint venture partnership with Florida Value Partners, BH Group and PEBB Enterprises for the development of Miami Station, a mixed-use development that is currently entitled for 301 residential units, 244,000 square feet of office space and more than 7,000 square feet of retail space. The development is zoned for 36 stories with the potential for an additional 24 stories pending Federal Aviation Administration and Miami-Dade Aviation Department approval. Jaret Turkell, Roberto Pesant, Scott Wadler, Yoav Yuhjtman, Omar Morales and Jose Mota of Berkadia South Florida marketed the land on behalf of the sellers, BH 18 Investments LLC and Meyers Group.

February 8, 2023

Newer Posts

Older Posts