PASADENA, CALIF. — JRW Realty, a Pasadena-based commercial real estate brokerage firm, has arranged the sale of six single-tenant retail stores in Louisiana net-leased to Walmart Neighborhood Market. Jennifer Rodriguez Ventura of JRW Realty represented the buyer, an unnamed institutional investor that purchased the portfolio for $84 million. Alex Sharrin of JLL represented the undisclosed seller. The six stores are located in the southern or coastal Louisiana towns of Meraux, Houma, Prairieville, New Iberia, Opelousas and Thibodaux. All purchases have single-tenant net leases in place, with individual prices ranging from $11.8 million to just under $16.5 million. The stores average approximately 43,000 square feet and the total square footage of the six stores is 257,427.
ATLANTA — Wendover Housing Partners has opened Hartland Station, a new affordable housing community in Atlanta. The 131-unit property is located at 2040 Fleet St., south of downtown Atlanta in the city’s Sylvan Hills neighborhood. The community aims to address the ongoing issue of available affordable housing in Atlanta, where there are approximately only 27 available affordable homes per 100 low-income renters, according to Wendover Housing. Hartland Station consists of one-, two- and three-bedroom units and features amenities such as a business center, fitness center, activity room with kitchen, splash pad and a playground. Rents start at $861 per month. The $28 million community was made possible with help from partners including the Georgia Department of Community Affairs with nearly $1 million in Low Income Housing Tax Credit (LIHTC) equity, $1.5 million in bonds from Invest Atlanta (the city’s economic development authority) and $1.3 million in grant funding from the Metropolitan Parkway tax allocation district. Financing also included $18.8 million in tax-exempt bonds.
HIRAM, GA. — Automann Inc., a global distributor of truck and trailer chassis and brake components, has signed a 367,000-square-foot industrial lease within Silver Comet Industrial Park in Hiram. The New Jersey-based firm is expected to bring 150 jobs to the Paulding County area, which sits west of Atlanta along U.S. Route 278 and State Route 92. Automann is occupying all of Building I, which is the first of six facilities planned at the 128-acre industrial complex. Silver Comet Industrial Park’s landlord is SK Commercial Realty, Goldenrod Cos. and Paulding County Economic Development. The ownership will break ground on the facility, which will feature 36-foot clear heights and 29 dock doors, in the coming months.
ATHENS, GA. — Hodges Ward Elliott (HWE) has arranged the sale of Hampton Inn Athens, a 112-room hotel located at 2220 W. Broad St. in Athens. Built in 1995, Hampton Inn Athens is situated about three miles west of the University of Georgia, downtown Athens and the Classic Center, the city’s premier convention center. The hotel features digital keys, pet-friendly rooms, an outdoor swimming pool, fitness center, business center and complimentary breakfast. Clint Hodges, B.J. Patel and Michael Brandes of HWE represented the seller, Germantown, Tenn.-based McNeill Hotel Co., in the negotiations. The undisclosed buyer purchased the hotel.
CHARLOTTE, N.C. — ZOM Living has sold Hazel SouthPark, a 203-unit mid-rise apartment community in Charlotte that the firm delivered last year. The property includes 14,000 square feet of retail space that was fully leased at the time of sale. An undisclosed buyer purchased the asset for $130.8 million, establishing a new record high price per unit for a multifamily community in North Carolina when adjusting for the value of the retail space. Eastdil Secured represented ZOM Living in the transaction. “This is a significant sale that reflects the level of design and construction quality of our newest development, the desirability of the SouthPark neighborhood and the strength of Charlotte’s multifamily market,” says Greg West, CEO of ZOM Living. “Since we delivered this property in 2021, we have seen tremendous leasing activity and achieved premium rents within a few months of its opening. The sale of this asset is in line with our plan to continue to invest in developing future multifamily properties in the Charlotte market and beyond,” adds West. Hazel SouthPark is situated within Charlotte’s SouthPark neighborhood, an office submarket about six miles south of the city’s central business district that is anchored by Simon’s SouthPark Mall, which …
CHARLOTTE, N.C. — Washington, D.C.-based multifamily developer Jefferson Apartment Group (JAG) has closed on its purchase of five acres at 200 Wadsworth Place in Charlotte. JAG, along with equity partner Cadre, will break ground on a planned 350-unit, mid-rise apartment community on the site this summer. United Bank is providing construction financing to JAG for the property, which is situated in Charlotte’s Optimist Park neighborhood near the city’s Uptown, NoDa and Belmont submarkets. This location will also offer easy access to both I-277 and I-74, as well as public transit and Optimist Hall, a mixed-use development featuring a food hall and creative office space. The exterior of the unnamed, six-story apartment building will feature red brick and ironwork, and units will be a configured in studio, one- and two-bedroom floor plans ranging from 585 square feet to 1,027 square feet. Units will feature modern finishes, including plank flooring, quartz countertops, stainless steel appliances and tile backsplashes, and some will feature private balconies and views of Uptown. Additionally, 355 parking spaces will be available to residents, consisting of both garage and surface parking. Amenities will include a lounge with double-sided fireplace, game room, fitness center, open coworking space, pet spa and …
MIAMI GARDENS, FLA. — Marcus & Millichap has negotiated the $16.8 million sale of Commons Plaza, a three-story office building located at 5901 Miami Gardens Drive in Miami Gardens. Situated on a three-acre lot at the intersection of 183rd Street and 57th Avenue, the 56,601-square-foot property was 99 percent leased at the time of sale. Alex Zylberglait of Marcus & Millichap’s Miami office represented the seller, an entity doing business as Commons Plaza LLC, and procured the buyer, an entity doing business as MG Office Plaza LLC.
CHARLOTTE AND MOORESVILLE, N.C. — Greensboro, N.C.-based Bell Partners Inc. has acquired two communities in metro Charlotte: Element Uptown, a 352-unit high-rise community in Uptown Charlotte, and Waypoint West, a 192-unit, garden-style apartment community in Mooresville. Both properties were purchased via investment vehicle Bell Apartment Fund VII. The seller and purchase price were not disclosed. Element Uptown will be renamed Bell Uptown Charlotte. Completed in 2015, the 21-story community offers walkable access to retail and recreation amenities including Bank of America Stadium and other professional sports arenas. The community features studio, one- and two-bedroom floor plans and plentiful off-street parking. Bell Partners currently manages four other properties in the Uptown and nearby South End submarkets. Waypoint West will be renamed Bell Mooresville West. Completed in 2021, the property is located in the Lake Norman submarket approximately 30 miles north of Charlotte. The property offers access to a large employment base, natural amenities and schools. The community features one-, two- and three-bedroom floor plans with amenities including a fitness center and yoga room, smart tech locks and thermostats, high-speed internet, a pool and grilling areas and a dog park and pet washing station.
GARDEN CITY, GA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $8.3 million sale of Garden Grove, a Food Lion-anchored shopping center located adjacent to the Port of Savannah in Garden City. The grocer, which has anchored the shopping center since 1990, recently extended its lease through 2031. Fletcher Bright Co. sold the 78,792-square-foot property to a private, North Carolina-based family office doing business as Berkshire-Hudson Capital XI. The seller recently replaced the shopping center’s roof and executed nine lease renewals in 2021, including Food Lion’s. Other tenants at Garden Grove include Concentra Health Urgent Care, Rent-a-Center, Hopxing Chinese Restaurant, X-Cell Communications, Suave House Barber, Jackson Hewitt Tax Service and RPM Coin Laundry. Zach Taylor of IPA represented Fletcher Bright in the transaction. “Garden Grove illustrated that demand for grocery centers in growing Southeast markets continues to drive record pricing despite recent interest rate increases,” says Taylor.
BIRMINGHAM, ALA. — Cushman & Wakefield | EGS Commercial Real Estate has arranged the $7.8 million sale of a 67,000-square-foot warehouse in Birmingham. Situated at 101 39th St. N., the property is a new build-to-suit facility for Ferguson Enterprises, a distributor of commercial and residential plumbing products. Cushman & Wakefield | EGS delivered the facility in March 2022. Boston-based Stag Holdings purchased the property. Adam Eason of Cushman & Wakefield | EGS led the development efforts and also brokered the lease and sale transactions. INCO Group and WatsonBruhn Builders were the general contractors for the project. Stag Holdings has retained Cushman & Wakefield | EGS to provide management services for the property