Southeast

Comstock Signs Puttshack to Lease at Reston Station Mixed-Use Project in Northern Virginia

by John Nelson October 19, 2022

RESTON, VA. — Comstock Holding Cos. Inc. has signed mini-golf retail concept Puttshack to anchor Phase II of Reston Station, an 80-acre mixed-use project underway in Northern Virginia. Located near the Wiehle-Reston East Metro Station at 1850 Reston Row Plaza in Reston, Puttshack will be the project’s first active entertainment venue when it opens in summer 2025. The more than 29,000-square-foot space will feature four nine-hole mini-golf courses equipped with Puttshack’s proprietary Trackaball technology that keeps track of patrons scores as they play. The venue will also have a full dining menu and hand-crafted cocktails, as well as multiple bars and private event spaces for parties and business outings. Chicago-based Puttshack recently completed a growth capital round of $150 million from funds managed by BlackRock and continued support from Promethean Investments to help fuel the operator’s expansion plans.

October 19, 2022

Leasing Activity Midwest Multifamily Northeast Southeast Texas Video Webinar Western

Webinar — The Future of Multifamily Advertising is Here: How Automation is Transforming Housing

by Sarah Daniels October 18, 2022

On Oct. 12, France Media hosted the “The Future of Multifamily Advertising is Here: How Automation is Transforming Housing” webinar, sponsored by Conversion Logix. A growing need for marketing automation in the industry means organizations are looking for improved tools and technology. Curious about how to mesh Google ads and social media video ads, retargeting campaigns, website experiences, virtual tours, emails and more into a coherent marketing approach for multifamily? Want to learn more about engagement personalization? Hear how to prepare your organization for marketing automation and make the most of the data you collect. Watch this brief webinar for tips, tricks and tech. “The multifamily marketing landscape continues to evolve,” says Crystal Banegas, new business development manager at Conversion Logix. She explains that as the world of marketing technology expands, marketers need to evolve as well to best take advantage of time-saving, personalizing technology that frees marketers to look at their advertising strategically — using real-time data to personalize (but not pester) leads. Click to listen. A copy of the webinar presentation may be downloaded here. See a list of major topics covered below: Integration of real-time data — sharing information useful to Teams Vendors Organizations Making the best use …

October 18, 2022

Development District of Columbia Mixed-Use Multifamily Retail Southeast

Standard Real Estate Investments to Develop $650M Mixed-Use Project in D.C.

by John Nelson October 18, 2022

WASHINGTON, D.C. — Standard Real Estate Investments LP, a minority-owned national real estate investment and development firm with offices in Washington, D.C., and Los Angeles, has purchased the Senator Square and East River Park shopping centers in northeast Washington D.C. The centers span 13 acres and are entitled and programmed for a $650 million mixed-use redevelopment that will bring 1,500 residential units, including approximately 300 affordable housing units, and 120,000 square feet of retail space to D.C.’s Northeast Heights district. National Housing Trust is developing 110 of the project’s 300 affordable housing units in a standalone building. The Black Economic Development Fund, which is managed by affiliates of the Local Initiatives Support Corp., and Forbright Bank provided construction financing for the development. The site is located within walking distance of the Minnesota Avenue Metro Station and near a build-to-suit office project that Trammell Crow Co. is developing for the District of Columbia’s Department of General Services. The construction timeline for the development was not disclosed.

October 18, 2022

Development Industrial Maryland Southeast

Joint Venture Breaks Ground on Two Spec Industrial Facilities in Hagerstown, Maryland Totaling 2 MSF

by John Nelson October 18, 2022

HAGERSTOWN, MD. — A joint venture led by an affiliate of Baltimore-based MCB Real Estate LLC has begun construction on Currwood Logistics Park, a 2 million-square-foot industrial park in Hagerstown. Set for delivery in late fall 2023, the 195-acre project will comprise two single-story buildings — one spanning nearly 1.7 million square feet and the other a 300,000-square-foot building that are being developed simultaneously on a speculative basis. Other members of the joint venture include Invesco Real Estate, Curated Development Group and Birchwood Capital Partners. The development is expected to generate nearly 1,500 new jobs for Washington County and the surrounding area. The development team is investing in the construction of a new signalized intersection at U.S. Route 40, as well as a new four-lane extension of Paul Smith Boulevard that extends to another new signalized intersection at Edgewood Drive that will serve as the project’s entrance. The concrete tilt-wall buildings will feature 36- to 40-foot clear ceiling heights, LED lighting, high-efficiency HVAC systems, 185-foot truck courts and segregated parking fields reserved for employee and visitor parking. The larger building will feature 196 dock doors and four drive-in doors, an alternate-energy-ready roof structure designed to accommodate a photovoltaic solar array …

October 18, 2022

Development Florida Mixed-Use Multifamily Southeast

Carter, Hunt Cos. to Build 22-Acre Mixed-Use Project in Lakeland, Florida

by John Nelson October 18, 2022

LAKELAND, FLA. — Atlanta-based Carter has partnered with El Paso, Texas-based Hunt Cos. Inc. to build a mixed-use development in Lakeland’s west downtown district. Carter recently closed on the purchase of the 22-acre site, which fronts Lake Wire and is proximate to the new 168-acre Bonnet Springs Park and RP Funding Center. Situated within an opportunity zone, the project will be built in two phases, the first phase of which will include 300 multifamily units and more than 15,000 square feet of street-level retail space. Patterson Real Estate Advisory Group assisted Carter in arranging the construction financing for the project through Citizens Bank. David Bunch and Lisa Parks Abberger of Hauger-Bunch Inc. represented the undisclosed seller in the land transaction.

October 18, 2022

Acquisitions Development Florida Industrial Southeast

Cushman & Wakefield Arranges $18M Land Sale in Daytona Beach, Buyer Plans 777,200 SF Industrial Project

by John Nelson October 18, 2022

DAYTONA BEACH, FLA. — Cushman & Wakefield has arranged the $18 million sale of a 67-acre industrial land site located at 1094 S. Williamson Blvd. in Daytona Beach. The buyer, Karis, expects to deliver three Class A buildings totaling 777,200 square feet on the site by late 2023. Jared Bonshire, David Perez, Taylor Zambito and Matthew Trone of Cushman & Wakefield represented the buyer in the transaction. The sellers, John Schnebly and Craig Wells, are successor co-trustees of the Berrien H Becks Sr Revocable Trust. Karis has retained the Cushman & Wakefield team to lease the development, which will be located at the intersection of I-4 and I-95. The buildings will feature cross-dock configurations, up to 100 dock doors, 40-foot clear heights, large truck courts and ample off-dock trailer parking.

October 18, 2022

Acquisitions Hospitality South Carolina Southeast

Montford, Opterra Capital Acquire 136-Room Aloft by Marriott Hotel in North Charleston

by John Nelson October 18, 2022

NORTH CHARLESTON, S.C. — A partnership between The Montford Group and Opterra Capital has acquired the 136-room Aloft Charleston Airport and Convention Center hotel by Marriott in North Charlesotn. The hotel is situated across I-526 from Charleston International Airport and near the Tanger Outlets Charleston. The new ownership plans to invest nearly $3 million to renovate the hotel and has hired Aimbridge Hospitality as a third-party operator. The seller and sales price were not disclosed. The hotel features a fitness center, business center, market, lounge, indoor pool and dry cleaning services. In addition to the Aloft hotel, Montford and Opterra Capital are currently developing four hotels in the Charleston market, including Moxy by Marriott, which is currently under construction and scheduled to open in early 2023.

October 18, 2022

Kentucky Market Reports Multifamily Southeast Southeast Market Reports

Louisville is a Stable and Growing Multifamily Market for Potential Investors

by John Nelson October 18, 2022

Following the trends of both regional and national multifamily statistics, the Louisville metro area has had a robust stretch of development, repositioning and innovation in the multifamily housing sector that has surpassed 10 years in duration. With a population of 1.32 million, there are 516,000 households in Louisville with an average household income of $69,000. Pursuant to a recent CoStar Group report, Louisville has a total inventory of just over 84,000 units. It is anticipated that there will be over 91,000 units by 2026, a 8.3 percent increase. CoStar also forecasts that the Derby City’s vacancy rate will hover around 5.5 percent in 2026. One of the projects under development includes The Reserve (the Stable) at English Station. The 172-unit, Class A community adjoins a patio home development that was developed by Sunshine Industries. The property is slated for completion in January 2023. As far as popular neighborhoods for development, there are several recently developed or under construction projects in the city’s East End district. The city’s economy has benefited from the accelerated adoption of e-commerce as a result of the pandemic. Retailers and logistics providers are leasing a record amount of space as they seek to expand their distribution …

October 18, 2022

Civic Development Retail Southeast Tennessee Top Stories

Tennessee Titans, Local Government Agree to Terms for New $2.1B Enclosed Stadium in Nashville

by John Nelson October 18, 2022

NASHVILLE, TENN. — The NFL’s Tennessee Titans and the Metropolitan Government of Nashville and Davidson County (Metro) have agreed to terms to bring a new $2.1 billion football stadium to Nashville’s East Bank district. The enclosed stadium will span 1.7 million square feet and will be situated near the Cumberland River to the east of the Titans’ current arena, Nissan Stadium. The site for the new stadium currently comprises surface parking lots. Once complete, the project will represent the largest building project in the Metro’s history and will attract marquee events such as the Super Bowl and CMA Fest country music festival, according to ESPN. “When my father brought this team to Tennessee 25 years ago, I don’t think he could have imagined a better home for our organization,” says Titans controlling owner Amy Adams Strunk. “The way the people of Tennessee have embraced this team as their own is truly something special, and I am thrilled that with this new agreement, we will cement our future here in Nashville for another generation.” Funding for the new stadium comprises four categories, with football-related sources (i.e. the Titans, the National Football League and personal seat license sales) representing the largest source …

October 18, 2022

Development Florida Mixed-Use Multifamily Southeast

Integra Investments to Build 338-Unit Mixed-Use Project in North Miami

by John Nelson October 17, 2022

NORTH MIAMI, FLA. — Integra Investments has received final approval from the City of North Miami to build a 338-unit mixed-use multifamily community located at 13855 N.W. 17th Ave. Called NoMi Square, the project will sit on 7.6 acres and take the form of a seven-story building comprising apartment homes in one-, two- and three-bedroom layouts, as well as four live/work units with commercial space. The property will also feature a 528-foot-long linear public park. Other amenities will include a courtyard with a pool deck and pavilion and a clubhouse with a coffee bar, clubroom, business center, fitness center and yoga and spin room. Designed by Anillo Toledo Lopez Architecture, the project is scheduled to begin construction in 2023, with an 18-month timeline. Integra Investments is investing over $100 million in the community, which will generate 500 jobs during its construction phase.

October 17, 2022

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