Southeast

Mitsui Fudosan America Reaches Deal With Industrious for 40,653 SF Space at Homer Building in D.C.

by John Nelson October 24, 2022

WASHINGTON, D.C. — Mitsui Fudosan America (MFA) has signed a partnership agreement with Industrious, a flexible workplace company, for the use of 40,653 square feet of space at The Homer Building, an office building located at 601 13th St. NW in Washington, D.C. Located on the 12th floor, the space will feature private offices and a total of over 500 seats. The Industrious space at The Homer is scheduled to open in early 2023. Located atop Metro Center Station in D.C.’s East End neighborhood, The Homer Building features a rooftop deck, modernized elevator mechanicals and cabs, a four-level parking garage, full-service fitness center and a Panera Bread and coffee shop on the ground level.

October 24, 2022

Acquisitions Development Multifamily North Carolina Southeast

Alchemy Properties South, New Valley Realty to Build Residential Tower in Downtown Raleigh

by John Nelson October 24, 2022

RALEIGH, N.C. — Alchemy Properties South, in partnership with New Valley Realty, has purchased two properties located in Raleigh for a combined $16 million. The site of the properties, which include a vacant lot at 303 S. Dawson St. and an adjacent retail building at 217 W. Martin St., will be redeveloped as a luxury residential building to feature up to 40 stories and 450 rental and condominium units. Morris Adjmi Architects and JDavis Architects will design the new building. Maxim Capital Group provided financing for the transaction. No construction timeline was disclosed.

October 24, 2022

Acquisitions Florida Restaurant Retail Southeast

Marcus & Millichap Brokers $9.4M Sale of Keystone Shoppes Retail Center in Miami

by John Nelson October 24, 2022

MIAMI — Marcus & Millichap has arranged the sale of Keystone Shoppes, a 9,566-square-foot retail center located at 190 NW 42nd Ave. in Miami. Ruben Gonzalez and John Obando, private investors, acquired the property for $9.4 million. Jonathan De La Rosa of Marcus & Millichap marketed the center on behalf of the seller, Keystone Holdings. Chipotle Mexican Grill anchors the center.

October 24, 2022

Florida Market Reports Retail Southeast Southeast Market Reports

The Story of Tampa’s Urban Renewal is Told Through Retail, Mixed-Use Hubs

by John Nelson October 24, 2022

What was once a vacant landscape has undergone a modern-day renaissance, transforming into a thriving, energetic hub infused with dynamic retail, local chef-driven eateries and desirable living and working environments. Tampa has evolved into a top “a place to see” and “place to be” for both out-of-state guests and residents alike. What is one the main driving forces behind this urban revitalization? The rise of high-density mixed-use developments and lifestyle centers that create central spaces for people to live, work, play, shop, dine and explore new experiences. Recently, Florida has benefited from a massive influx of residents and development activity as a result of the COVID-19 pandemic. Varying demographics and age groups flocked to the Sunshine State in search of more space, agreeable weather and an expedient reopening as far as retail, restaurant and entertainment. Along with the mass of new residents, Tampa quickly rose to become the second most popular city in the country for prospective homebuyers, reflecting a new interest to settle down in the area. The retail sector also boomed state-wide, but specifically in Tampa, with retail rents growing 7.8 percent over the last 12 months and ranking among the top 10 fastest growing markets, according to …

October 24, 2022

Development Mixed-Use Southeast Virginia

JBG Smith Files Plans to Develop Mixed-Use Project in Arlington

by Taylor Williams October 21, 2022

ARLINGTON, VA. — Chevy Chase, Md.-based developer JBG Smith has filed plans with the City of Arlington to develop a mixed-use project within the 36-acre Riverhouse district. The project would preserve three existing multifamily buildings while also adding three mid-rise apartment complexes with more than 1,000 units, as well as 185 seniors housing residences, 265 townhomes and 164 for-sale condos. In addition, the project would feature 30,000 square feet of retail and restaurant space and more than seven acres of public parks and green spaces that would be connected by trails and paths. Lastly, JBG Smith would invest in infrastructural improvements throughout the district and commission public art installations. The development team is engaging in the communal outreach phase of the project while it awaits the completion of the permitting and approvals process.

October 21, 2022

Acquisitions Florida Southeast Student Housing

Jacobson Co. Acquires 618-Bed Student Housing Property in Gainesville, Florida

by John Nelson October 21, 2022

GAINESVILLE, FLA. — The Jacobson Co. has completed the acquisition of Liv+ Gainesville, a 618-bed student housing community located near the University of Florida in Gainesville. The 235-unit, four-story property features one-, two-, three-, four-, five- and six-bedroom layouts and amenities such as covered parking, a fitness center, pool, dog park and pet spa, 24-hour market, resident lounge and study lounges. Located at 1900 S.W. 13th St., the property is walkable to the university. The seller and sales price were not disclosed.

October 21, 2022

Georgia Leasing Activity Office Southeast

Ardent Cos. Completes Five New Office Leases, 11 Renewals at Piedmont Center in Atlanta

by John Nelson October 21, 2022

ATLANTA — The Ardent Cos. has executed five new leases, 11 renewals and one expansion at Piedmont Center, a 2 million-square-foot office campus located in the Buckhead neighborhood of Atlanta. New tenants at Piedmont Center, which will absorb 35,650 square feet of space, include Emory Investment Management, Harry Norman, Maxis, Findling Law and Relatient. Chad Koenig and Katelyn Fabien of Cushman & Wakefield represented Emory Investment Management, John Winter of Cushman & Wakefield represented Harry Norman, Jill Goldberg of Goldberg O’Malley and Steve Barton of CBRE represented Maxis, and Relatient was represented by Joey Kline of JLL in the lease negotiations. Hudson Lambert Parrott Walker LLC added 4,426 square feet of space to its occupancy of Tower 15 at the campus. The lease renewals and expansion account for 42,359 square feet. JLL and Cushman & Wakefield handle leasing for Piedmont Center on behalf of Ardent Cos.

October 21, 2022

Acquisitions Florida Self-Storage Southeast

Marcus & Millichap Executes Sale of 89,250 SF Self-Storage Facility in Melbourne, Florida

by John Nelson October 21, 2022

MELBOURNE, FLA. — Marcus & Millichap has arranged the sale of Melbourne, Florida Storage Opportunity, an 89,250-square-foot self-storage facility located in Melbourne, roughly 70 miles southeast of Orlando on Florida’s Space Coast. The property, which features 66,547 square feet of rentable space and 662 climate-controlled units, was acquired by an undisclosed limited liability company. Meir Perlmuter, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the property on behalf of the seller, also an undisclosed limited liability company, and secured and represented the buyer in the transaction. Ryan Nee, the firm’s Florida broker of record, assisted in closing the sale. The sales price was not disclosed.

October 21, 2022

Acquisitions Mixed-Use Southeast Virginia

Feldman Ruel Arranges $5M Sale of Mixed-Use Property in Metro D.C.

by John Nelson October 21, 2022

ALEXANDRIA, VA. — Feldman Ruel Urban Property Advisors has facilitated the sale of 901-905 King Street, a four-level mixed-use property located in Alexandria’s Old Town district. The property, which is occupied by White House Black Market at the street level, sold for $5 million. Tanner Scales, Josh Feldman and Ian Ruel of Feldman Ruel marketed 901-905 King Street on behalf of the seller, an entity doing business as A & H LLC. Windmill Hill Homes acquired the property and has plans to convert its vacant office space into 14 residential units. Retail space at the building will remain as-is.

October 21, 2022

Acquisitions Georgia Office Southeast Top Stories

KDC Acquires Two Office Towers Totaling 1.6M SF in Metro Atlanta

by Jeff Shaw October 21, 2022

DUNWOODY, GA. — Dallas-based corporate development and investment firm KDC has acquired two office buildings totaling more than 1.6 million square feet in Park Center, a 17-acre master-planned, transit-oriented project in the northern Atlanta suburb of Dunwoody. Park Center Buildings 2 and 3 were acquired in a sale-leaseback deal with insurance giant State Farm, along with approximately 40,000 square feet of retail space, a parking structure with more than 4,000 parking spaces and a 2.6-acre parcel for future development. The price was not disclosed. Park Center Building 2 was completed in 2020 and comprises 621,000 square feet, including 39,000 square feet of retail space. Park Center Building 3 is a 440,000-square-foot office tower completed in 2021. KDC described the properties as “a state-of-the-arm, Class A office project.” KDC was the original developer of Park Center. The company purchased the property with its internal capitalization established with an investment by Cadillac Fairview in 2021, along with ongoing ownership and funding from KDC and Compatriot Capital. Northmarq’s Dallas debt and equity team, including Phillip Askew, Ronald Reese and Charlie Robinson, arranged financing for KDC’s acquisition through its life insurance company relationships. KDC has begun planning for future phases of Park Center. According …

October 21, 2022

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