Southeast

Chick-fil-A to Test Two New Restaurant Concepts in Metro Atlanta, New York City

by John Nelson July 31, 2023

ATLANTA AND NEW YORK CITY — Chick-fil-A has announced plans for two new restaurant concepts. Beginning in 2024, the brand will open an elevated drive-thru concept in metro Atlanta as well as a walk-up restaurant in New York City. Both concepts are designed to enhance efficiency and convenience, with plans for the drive-thru restaurant including a kitchen built above the drive-thru lanes and dedicated lanes for mobile orders. Targeted toward urban areas with heavy foot traffic, the walk-up concept will allow guests to order through the Chick-fil-A app and pick up items at the walk-up windows. “Digital orders make up more than half of total sales in some markets… so we know our customers have an appetite for convenience,” says Khalilah Cooper, Chick-fil-A’s executive director of restaurant design. “The locations for these tests were intentionally selected with the customers in mind, giving them more control over their desired experience and cutting down wait time.” The locations of the two new concepts were not disclosed. Chick-fil-A is a privately held, family-owned fast-casual restaurant chain based in Atlanta. The company employs more than 170,000 team members at more than 2,700 restaurants across 47 states, Washington, D.C., Puerto Rico and Canada.

July 31, 2023

Market Reports North Carolina Retail Southeast Southeast Market Reports

Charlotte Retail Turns to Infill Adaptive Reuse, Mixed-Use Projects Post-Pandemic

by John Nelson July 31, 2023

In the wake of the COVID-19 pandemic, Charlotte’s retail segment has experienced a remarkable revitalization, fueled by a convergence of factors that have reinvigorated the city’s economic landscape. With a thriving job market, affordable cost of living and a surge in adaptive reuse, mixed-use and infill projects, Charlotte has become a hotbed for retail activity. As the city emerges from the challenges of the pandemic, it has embraced innovative approaches to urban development, transforming once-vacant spaces into vibrant hubs of commerce. Several macro-economic trends have impacted retail growth in Charlotte. Population growth in the city has spurred an increase in consumer demand, leading to a vibrant retail market. In a May 18 article from the Charlotte Business Journal, it was noted Charlotte added more than 15,000 people to its population count between 2021 and 2022, the nation’s fifth-highest numeric increase during that span, according to the latest estimates from the U.S. Census Bureau. As more people choose to settle in Charlotte, the demand for goods and services has risen, prompting retailers and restaurants to expand their operations and invest in new locations. Additionally, the rise of e-commerce and the shift toward online shopping have compelled retailers in Charlotte to adapt …

July 31, 2023

Development Florida Multifamily Southeast

Terra Delivers 460-Unit Natura Gardens Apartments in Metro Miami

by John Nelson July 28, 2023

HIALEAH, FLA. — Terra has delivered Natura Gardens, a 460-unit, garden-style apartment community located on the west side of Hialeah, a suburb in northwest Miami-Dade County. The 23-acre property comprises 12 residential buildings with units ranging from one to three-bedrooms. Units range in size from 727 to 1,603 square feet and rental rates range from $2,000 to $3,350 per month. Natura Gardens is situated directly south of the planned American Dream mall in Miami Lakes and between I-75 and the Florida Turnpike. Amenities include a two-story clubhouse with a resort-style pool and spa; a covered kitchen prep area and grilling station, sink and refrigerator; outdoor tiki hut areas with hammocks, tables and umbrellas, and lounge chairs on beach sand; a media room, billiards and children’s playroom; a lounge with a bar and kitchen; modern fitness center with yoga, aerobics and spinning studios; a business center with coworking spaces and a coffee bar; a children’s “tot-lot: with recreational equipment and electronic charging stations; residents-only dog park and outdoor spaces including open lawns, lakes, preserves and mobile device charging stations throughout the entire community. The design team includes Pascual, Perez, Kiliddjian Architecture (PPK), with the development’s clubhouse and model units designed by …

July 28, 2023

Acquisitions Florida Southeast Student Housing

Balfour Beatty Acquires 592-Bed Student Housing Community Near Florida State University

by John Nelson July 28, 2023

TALLAHASSEE, FLA. — Balfour Beatty has acquired The Quarters at Tallahassee, a 592-bed student housing community located one mile from the Florida State University campus in Tallahassee. The property, which offers 168 units in a mix of six floor plans, has been rebranded Oktiv by the new ownership. Shared amenities at the community include a business center, clubhouse, fitness center, resort-style swimming pool, hot tub, sauna, study rooms and a yoga studio with on-demand classes. Berkadia secured acquisition financing for the transaction through an affiliate of Walton Street Capital. The seller and terms of the transaction were not disclosed. The community will be managed by Balfour Beatty’s internal residential management division, Balfour Beatty Communities.

July 28, 2023

Development Multifamily North Carolina Southeast

Wood Partners, GTIS Open 308-Unit Alta West Morehead Apartment Community in Uptown Charlotte

by John Nelson July 28, 2023

CHARLOTTE, N.C. — Wood Partners and GTIS Partners have completed the development of Alta West Morehead, a 308-unit apartment community located in Uptown Charlotte. The joint venture announced the project in September 2021. Located at 2020 W. Morehead St., the community features apartments in studio, one-, two- and three-bedroom layouts. Amenities at the property include a pool, pet spa and a clubhouse with a fitness center, coworking space, lounge and game room. Monthly rents begin at $1,560, according to the community website. Wood Residential, an affiliate of Wood Partners, manages the property.

July 28, 2023

Development Industrial South Carolina Southeast

Hunt Midwest Delivers 258,801 SF Industrial Building in Anderson, South Carolina

by John Nelson July 28, 2023

ANDERSON, S.C. — Kansas City-based Hunt Midwest has completed the construction of a speculative industrial building located within Evergreen Logistics Park at I-85 in Anderson. Located at 1105 Scotts Bridge Road, Evergreen Logistics I totals 258,801 square feet and features 32-foot clear heights, 26 dock positions, 32 additional knock outs with capacity for expansion to 48, 60-foot-deep staging bays, LED lighting, an ESFR sprinkler system and speculative office space. The property also includes a 185-foot-deep truck court with 77 trailer parking stalls and 200 vehicle parking spaces. This marks Hunt Midwest’s second industrial project in the Greenville-Spartanburg industrial corridor, following the development of Fort Prince Logistics Center in Lyman, S.C.

July 28, 2023

Georgia Leasing Activity Office Southeast

Morgan Stanley Signs 100,000 SF Office Lease Expansion in Alpharetta, Georgia

by John Nelson July 28, 2023

ALPHARETTA, GA. — Morgan Stanley has signed an office lease extension including an additional 100,000 square feet at The Edison Alpharetta, an office park roughly 30 miles north of downtown Atlanta. The New York City-based investment bank and financial services provider will now occupy a total 216,000 square feet across Buildings 1 and 3 at the property. Bryan Heller and Peter McGuone of Stream Realty Partners represented the landlord, Invesco Real Estate, in the leasing transaction. JLL represented the tenant.

July 28, 2023

Development District of Columbia Office Southeast Top Stories

Arctaris Impact Investors Opens $152M Northeast Heights Opportunity Zone Office Project in Washington, D.C.

by Jeff Shaw July 28, 2023

WASHINGTON, D.C. — Arctaris Impact Investors LLC has completed Phase I of Northeast Heights, a six-story, 281,000-square-foot office building in Ward 7 of Washington, D.C. The office building is located in a Qualified Opportunity Zone, which is an economically distressed area where new investments may be eligible for preferential tax treatment. The office building is the first phase of a three-phase, $600 million effort to revitalize Ward 7, according to Arctaris’ website. Future phases of Northeast Heights are expected to include a grocery store redevelopment, approximately 1,300 residential units and community spaces. According to Arctaris, the project was catalyzed by D.C. Mayor Muriel Bowser’s mandate for city agencies to use the leasing power of the D.C. government to encourage economic development in historically underserved communities. Northeast Heights was pre-leased to the city’s Department of General Services and will serve as the new headquarters for the agency, which employs approximately 700 people. The Department of General Services was the first city agency to sign a contract for office space east of the Anacostia River under this initiative. “Arctaris is proud to be part of the coalition led by Mayor Bowser, combining forces with like-minded, community-oriented investors to help bring new vitality …

July 28, 2023

Development Georgia Mixed-Use Multifamily Office Retail Southeast

Rockefeller Group Breaks Ground on 1072 West Peachtree Mixed-Use Tower in Midtown Atlanta

by John Nelson July 27, 2023

ATLANTA — Rockefeller Group has broken ground on 1072 West Peachtree, a mixed-use high-rise tower in Midtown Atlanta. At a planned height of 730 feet, the tower is slated to be the tallest building delivered in Atlanta in the past 30 years, according to Rockefeller. Situated at the corner of 12th and West Peachtree streets, the property will comprise more than 350 luxury apartments and amenities situated atop 224,000 square feet of flexible, Class A offices and 6,400 square feet of street-level retail space. Sumitomo Mitsui Trust Bank Ltd. is providing construction financing in the form of a senior loan to Rockefeller. A joint venture between Rockefeller, Japan-based Taisei USA LLC and Mitsubishi Estate New York is providing equity. Atlanta-based TVS was the lead architect for 1072 West Peachtree. A construction timeline was not disclosed.

July 27, 2023

Acquisitions Development Industrial South Carolina Southeast

Portman Acquires 40 Acres Near Charleston, Plans 536,000 SF Industrial Development

by John Nelson July 27, 2023

SUMMERVILLE, S.C. — Atlanta-based Portman has purchased 40 acres along US Highway 78 in Summerville, a suburb of Charleston. Situated near I-26 and the Port of Charleston, the site will be home to Summerville Logistics Center, a two-building industrial development totaling 536,000 square feet. Lee Allen and Kevin Coats of JLL represented Portman with the acquisition of the Summerville land. Ryan Welch and Clarke Attaway with Lee & Associates represented the seller and will lead the leasing efforts for the Summerville Logistics Center on behalf of Portman. Once complete in February 2025, the center will feature two single-load facilities with a 210-foot shared truck court. In addition to Summerville Logistics Center, Portman is finishing the next phase of its Campus 4 at Camp Hall project, which is situated nine miles north. The next phase comprises a 1.1 million-square-foot facility that will deliver in September. Portman is also co-developing Magnolia, a 189-acre mixed-use, waterfront destination in Charleston, with Highland Resources.

July 27, 2023

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