Southeast

SouthPoint-Industrial-Park-Mocksville-N.C

Hollingsworth Begins Construction of 282,733 SF Industrial Development in Mocksville, North Carolina

by Hayden Spiess May 31, 2023

MOCKSVILLE, N.C. — The Hollingsworth Cos. has begun the construction of two industrial buildings totaling 282,733 square feet in Mocksville, roughly 25 miles southwest of Winston-Salem. Situated within SouthPoint Industrial Park, the speculative buildings will total 130,492 square feet and 152,241 square feet, respectively, and will bring the property to a total of 12 single-tenant industrial buildings. Both facilities are being built for long-term lease by light manufacturing or distribution tenants.

May 31, 2023

Development Retail Southeast Tennessee

Buc-ee’s to Open 74,000 SF Travel Center in Servierville, Tennessee

by Hayden Spiess May 31, 2023

SERVIERVILLE, TENN. — Buc-ee’s is nearing completion of a 74,000-square-foot travel center in Servierville, roughly 30 miles southeast of Knoxville, marking the second location in the state for the brand and the largest travel center in the world. Scheduled to open at the end of June, the center will feature 120 fueling stations in addition to a store and car wash. Buc-ee’s, which currently operates 46 locations, is additionally underway on a 75,000-square-foot center in Texas and announced the first Virginia location in March of this year.

May 31, 2023

Development Georgia Leasing Activity Southeast

Scofflaw Plans 5,500 SF Brewery at Oxton Development in Atlanta

by Hayden Spiess May 31, 2023

ATLANTA — Scofflaw Brewing Co. has announced plans for a 5,500-square-foot brewery space at Oxton, a 35,000-square-foot food and retail project. Ardent Cos., Westbridge and Bridger Properties are developing Oxton at the Piedmont Center office campus in Atlanta, scheduled to open in 2024. Marking the first tenant at the development, the taproom and brewery will feature access to an adjoining courtyard. Square Feet Studio Architects is leading the design of Oxton, which was announced earlier this year. Bridger is handling retail leasing at the property.

May 31, 2023

Life Sciences Innovation Districts Danvers quote

Bohler Content Partner Development Features Life Sciences Midwest Multifamily Northeast Southeast Texas Western

Part 2: How to Promote Collaboration, Efficiency in Life Sciences Innovation Districts Via Design

by Sarah Daniels May 31, 2023

In the biotech and pharmaceutical sectors, life sciences innovation districts have become hubs not only for research and development but also for cooperation and inspiration between cohorts. These districts, often called innovation districts, collect together companies, research institutions, supporting entities, housing and more. Innovation districts necessitate meticulous planning and design strategies to promote scientific inquiry and efficiency. “Municipalities, schools, corporations and organizations that have close ties to their state are piloting life sciences innovation district development, allowing them to group otherwise separated uses — work, recreation, living areas and more — together. When you pair these institutions and include innovative site and building programming in a single location, you move beyond disconnected projects and amenities to a united innovation district that can magnify benefits across organizations,” explains Dan Danvers, a landscape architect project manager with Bohler, a land development consulting and site design company. This article is the design-focused component of our two-part series on life sciences innovation districts. If you would like to read about the planning component of these complex developments, please read our first article here. Moving Life Sciences Innovation Districts Forward Innovation districts must keep pace with evolving technologies and research. Life sciences industries are continually progressing, …

May 31, 2023

Development Florida Multifamily Southeast

Wood Partners Starts Construction of 324-Unit Alta Citron Apartment Community in Davenport, Florida

by Hayden Spiess May 30, 2023

DAVENPORT, FLA. — Wood Partners has broken ground on Alta Citron, a multifamily project in Davenport. Upon completion, the development will comprise 324 apartments in one-, two- and three-bedroom layouts. Amenities at the property will include a pool, clubhouse with a fitness center, grilling stations, outdoor fire pits, hammocks and a pet park with a washing station. Pre-leasing at the community is expected to begin this fall, with the opening scheduled for the fourth quarter of this year.

May 30, 2023

Acquisitions Retail Southeast Virginia

H.I.G. Realty Purchases $110M Shopping Center Portfolio in Metro Richmond, Virginia

by Hayden Spiess May 30, 2023

HENRICO AND MIDLOTHIAN, VA. — H.I.G. Realty Partners has purchased a shopping center portfolio for $110 million and formed a joint venture partnership with Rosenthal Properties and FarmViewVentures. Totaling 592,000 square feet, the portfolio includes Parham Plaza, Ridge Shopping Center and Staples Mill Square in Henrico, roughly 10 miles outside Richmond, and Stonehenge Village Center in Midlothian, roughly 15 miles outside Richmond. The portfolio was approximately 95 percent leased at the time of sale to tenants including Wegmans, Walmart, The Fresh Market and Aldi. Todd Soloway, Danielle Schechner, Ari Tran, Benjamin Teig, Kyle Miller, Nicholas Ratsep, David Saltzman and Michael Kumar of Pryor Cashman represented H.I.G in connection with the acquisition and financing of the shopping center portfolio. The seller and direct lender for the acquisition financing were not disclosed.

May 30, 2023

Georgia Loans Retail Southeast

Acadia Receives $36M Refinancing for Canton Marketplace in Metro Atlanta

by Hayden Spiess May 30, 2023

CANTON, GA. — Acadia Realty Trust has received a $36 million loan for the refinancing of Canton Marketplace, a 335,445-square-foot shopping center in Canton, roughly 40 miles north of Atlanta. Located at 1810 Cumming Highway, the property is 95 percent leased to tenants including Dick’s Sporting Goods, Best Buy, T.J. Maxx and pOpshelf. Mike Ryan, Brian Linnihan, Richard Henry and JP Cordeiro of CBRE secured the financing on behalf of Acadia through Voya Investment Management.

May 30, 2023

Acquisitions Florida Hospitality Southeast

CBRE Brokers $15M Sale of Greenview Hotel in Miami Beach, Florida

by Hayden Spiess May 30, 2023

MIAMI BEACH, FLA. — CBRE has brokered the $15 million sale of Greenview Hotel, a 45-room boutique hotel located at 1671 Washington Ave. in Miami Beach. Natalie Castillo and Austin LaPoten of CBRE Hotels represented the seller, an entity doing business as Greenview Hotel LLC, in the transaction. The buyer was a private investor with other South Florida hotels in its portfolio.

May 30, 2023

Acquisitions Florida Net Lease Retail Southeast

Marcus & Millichap Arranges $7.2M Sale of CVS-Occupied Building in Orlando

by Hayden Spiess May 30, 2023

ORLANDO, FLA. — Marcus & Millichap has arranged the $7.2 million sale of a single-tenant building located at 2701 South Orange Ave. in Orlando. CVS occupies the building, which comprises 13,616 square feet, on a net-lease basis. Ronnie Issenberg, Gabriel Britti and Ricardo Esteves of Marcus & Millichap represented the undisclosed seller in the transaction.

May 30, 2023

Georgia Industrial Market Reports Southeast Southeast Market Reports

Industrial Users are Pondering Where in Atlanta They’ll Set Up Shop

by John Nelson May 30, 2023

The Atlanta industrial market needs very little validation when it comes to answering the question “Why Atlanta?” More than a dozen companies started or based in Atlanta have grown over the past decade to valuations above $1 billion. Metro Atlanta had the second highest rate of job growth in the nation among large metro areas (6.7 percent), according to the U.S. Bureau of Labor Statistics. So rather than ask “Why Atlanta,” the better question is “Where in Atlanta?” As the Southeast’s population continues to grow, the metro Atlanta area continues in equal parts to add density to its thriving urban core as well as expand its suburban reach. With limited geographic barriers to development, outlying towns are quickly becoming absorbed into the definition of the Atlanta area. This persistent growth is placing demand on industrial space at an all-time high, requiring a nuanced view of site selection within the Atlanta MSA. The four corners of the Atlanta market reach nearly 60 miles from the urban center in each direction along highways I-75 and I-85, with new speculative projects under construction as far out as Adairsville, Commerce, Locust Grove and La Grange. Its breadth now includes Bremen and Rutledge in either …

May 30, 2023

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