Southeast

Hunt Midwest Breaks Ground on 258,801 SF Industrial Facility in Upstate South Carolina

by John Nelson June 8, 2022

ANDERSON, S.C. — Kansas City-based Hunt Midwest has broken ground on a 258,801-square-foot industrial facility within the new Evergreen Logistics Park, an industrial campus spanning 200 acres in Upstate South Carolina. Located at 1105 Scotts Bridge Road in Anderson, the new facility will feature 36-foot clear heights, an ESFR sprinkler system, motion-sensor LED lighting, 26 dock doors, 60-foot speed bays, four drive-in doors, more than 200 parking stalls, up to 77 tractor-trailer parking spots and a 185-foot truck court. Hunt Midwest expects to deliver the building by the end of the year. At full capacity, Evergreen Logistics Park will span 2 million square feet and offer immediate access to I-85 and a major FedEx terminal. Hunt Midwest has selected Seamon Whiteside for civil engineering, LS3P for building design, CBRE for leasing and Evans General Contractors as the general contractor.

June 8, 2022

Florida Leasing Activity Office Southeast

CBRE Executes 99,015 SF in Office Leases at Mizner Office Tower & Plaza in Boca Raton

by John Nelson June 8, 2022

BOCA RATON, FLA. — The CBRE team of John Criddle, Joe Freitas and Allie Lancashire have executed 20 lease deals totaling 99,015 square feet at Mizner Office Tower & Plaza, two office buildings within Mizner Park in Boca Raton. The largest lease deals were a new 26,429-square-foot lease with San Diego-based Robbins Geller Rudman & Dowd at Mizner Park Office Tower and a lease renewal with coworking giant Regus for 16,624 square feet at Mizner Park Plaza Real. Other deals include new leases and renewals with law firms, medical tenants, real estate companies and financial services firms. All together the deals bring Mizner Park Office Tower to 96 percent occupied and Mizner Park Plaza Real to 93 percent occupied. In addition to offices, Mizner Park features retail, residential and cultural space, as well as a 5,000-person-capacity amphitheater. Notable tenants include iPic, a high-end movie theather that includes its Tanzy dining concept and bowling alley Strike 10, as well as restaurants Loch Bar, Yard House, KaPow!, Max’s Grille, Villaggio Restaurant and Ruth’s Chris Steak House.

June 8, 2022

Development Georgia Leasing Activity Mixed-Use Southeast

Gray Television Inks Deal with NBCUniversal for 43-Acre Studio Campus in Metro Atlanta

by John Nelson June 7, 2022

DORAVILLE, GA. — Gray Television Inc. has entered into an operations agreement with NBCUniversal Media LLC to lease and operate a new studio campus spanning 43 acres in metro Atlanta. The Assembly Studios facilities will be situated within Gray’s Assembly Atlanta project, a 135-acre mixed-use development in Doraville that once housed GM’s Assembly plant. NBCUniversal’s lease with Gray will include a suite of facilities needed to support TV and film production. The new facilities will include multiple soundstages, production office space, warehouses and mill space, as well as parking and other necessary amenities. Adjacent to the Assembly Studios complex is Third Rail Studios, a movie and TV production facility spanning seven acres that opened in 2016 and that Gray acquired in September 2021. NBCUniversal will manage all studios onsite, including Gray’s own studio facilities and Third Rail Studios. Construction began on roadways and infrastructure throughout Assembly Studios last summer, and construction began on studio buildings for Gray’s Swirl Films late last year. Construction on NBCUniversal’s facilities is expected to begin this summer. At that time, Gray expects over 1,200 individuals will be employed in construction jobs onsite and that the Assembly Studios complex will be completed in the second half …

June 7, 2022

Acquisitions Florida Multifamily Southeast

Trion Properties Acquires Art 88 Apartments in Miami for $87.3M

by John Nelson June 7, 2022

MIAMI — Trion Properties, a private equity investment firm with offices in West Hollywood and Miami, has purchased Art 88 Apartments in Miami for $87.3 million. The seller was not disclosed, but South Florida Business Journal reports that Grand Peak Properties was the previous owner. Built in 1971 within one mile of Miami International Airport, Art 88 comprises 294 one- and two-bedroom apartments averaging 787 square feet. The community is configured in eight two- to five-story elevator buildings and features two pools, a fitness center, laundry facilities and a dog park. Maurice Habif, Simon Banke and Ted Turner of JLL brokered the transaction, and Jesse Wright with JLL arranged acquisition financing. Art 88 was 97 percent occupied at the time of sale, and the new ownership plans to make capital improvements to the property in the near future.

June 7, 2022

Acquisitions North Carolina Office Southeast

CBRE Investment Management Purchases The Line Office Tower in Charlotte’s South End

by John Nelson June 7, 2022

CHARLOTTE, N.C. — A fund sponsored by CBRE Investment Management has purchased The Line, a newly built, 16-story office tower in Charlotte’s South End district. The 314,221-square-foot property is located at 2151 Hawkins St. and features shared workspaces, sky lobby, amenity terrace, open-air plaza, lawn, outdoor decks, bike rooms, lockers, showers, covered parking and 24,000 square feet of retail space. The CBRE Strategic Partners U.S. Value 9 fund acquired The Line in a joint venture with Atlanta-based Portman Holdings, which co-developed the property with Washington, D.C.-based National Real Estate Advisors LLC. Mike McDonald and Jonathan Napper of Cushman & Wakefield represented the seller in the transaction. The sales price was not disclosed.

June 7, 2022

Acquisitions Southeast Student Housing Virginia

TSB Realty Arranges Sale of 909-Bed Student Housing Property Near Old Dominion in Norfolk

by John Nelson June 7, 2022

NORFOLK, VA. — TSB Realty has arranged the sale of The Next at ODU, a 909-bed student housing property located near Old Dominion University in Norfolk. The Michaels Organization sold the community to Saxum Real Estate for an undisclosed price. Delivered in 2010, the property offers shared amenities including a resort-style swimming pool and spa, 24-hour fitness center, tanning, a clubroom, business center and shuttle service to campus. Units offer bed-to-bath parity alongside features including modern appliances and washers and dryers.

June 7, 2022

Acquisitions Retail South Carolina Southeast

IPA Brokers $18.2M Sale of Port Royal Plaza Shopping Center in Hilton Head, South Carolina

by John Nelson June 7, 2022

HILTON HEAD, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.2 million sale of Port Royal Plaza, a 90,860-square-foot shopping center in Hilton Head. The property’s anchor tenants include Planet Fitness and AutoZone. The seller, an entity doing business as GFB Associates LLC, sold the center to Ronicks LLC, a private investor based in Tennessee. Zach Taylor of IPA brokered the transaction. “Port Royal Plaza is a landmark center on the north end of Hilton Head Island,” says Taylor. “The real estate is irreplaceable. We saw strong demand for this center and closed right at our guidance.”

June 7, 2022

Development Industrial Kentucky Southeast Top Stories

Heaven Hill Breaks Ground on $135M Bourbon Distillery in Bardstown, Kentucky

by John Nelson June 7, 2022

BARDSTOWN, KY. — Heaven Hill, a family-owned spirits company overseeing brands such as Evan Williams and Deep Eddy Vodka, has broken ground on a $135 million distillery in Bardstown, approximately 40 miles south of Louisville. The project, known as Heaven Hill Springs Distillery, is located at 1015 Old Bloomfield Pike, which was the site of the former Old Heaven Hill Springs Distillery. The former distillery opened in 1935, but was destroyed in a fire in 1996 that engulfed the distillery, seven rickhouses for barrel aging and about 100,000 barrels of whiskey. After the fire, Heaven Hill moved its distillery operations to the historic Bernheim Distillery in downtown Louisville, where the company still operates today. “We’re honored to celebrate this homecoming with a return to distilling in Bardstown to augment our overall bourbon-making capacity, as well as continue to make an impact in the Bardstown community,” says Max Shapira, president of Heaven Hill. Heaven Hill Springs Distillery is scheduled to open by the end of 2024. Heaven Hill anticipates the distillery will handle 150,000 barrels of spirits annually at first and ramp up production to 450,000 barrels annually over time, which mirrors the production at its Louisville distillery. Bardstown, which has …

June 7, 2022

Development Florida Mixed-Use Multifamily Office Retail Southeast

PMG, Greybrook Realty Partners Break Ground on 31-Story Mixed-Use Development in Midtown Atlanta

by Amy Works June 6, 2022

ATLANTA — PMG and Toronto-based Greybrook Realty Partners have broken ground on Society Atlanta, a 31-story mixed-use development at 811 Peachtree St. in Midtown Atlanta. Designed by Cooper Carry, the mixed-use property will feature 460 residential units, 81,000 square feet of office space and 16,500 square feet of retail space. Juneau Construction Co. is serving as general contractor for project, which is slated to open in late 2024. Society Atlanta will offer traditional layouts alongside “rent-by-bedroom” (also known as co-living) options. Community amenities will include a rooftop pool and restaurant, a coworking lab with private conference rooms, a gym and a fitness studio. The property is the first of PMG’s Society Living multifamily platform to enter the Atlanta market.

June 6, 2022

Acquisitions Industrial Maryland Southeast

Link Logistics Sells Six-Property Industrial Portfolio in Mid-Atlantic for $67.5M

by Amy Works June 6, 2022

BALTIMORE — New York-based Link Logistics has completed the disposition of Beltway+ Industrial Portfolio, a six-property, 430,118-square-foot industrial portfolio located in the Mid-Atlantic region. Massachusetts-based High Street Logistics Properties acquired the portfolio for $67.5 million. Situated in the Baltimore-Washington Corridor, Beltway+ Industrial Portfolio was 92 percent leased at the time of sale to 26 tenants. The largest asset in the portfolio is a 114,980-square-foot, Class A property located at 6695 Business Parkway within Meadowridge Business Park in Elkridge, Md. The remaining properties are small-bay industrial assets with direct access to Interstate 695. Christopher Abramson, Ben McCarty and Nicholas Signor of Newmark represented the seller in the deal. Brian Kruger, Thomas Hinder and Erik Evans of Newmark will handle leasing of the property on behalf the new ownership.

June 6, 2022

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