Southeast

Atlas Completes First Phase of 310-Unit Standard Assembly Apartments in Nashville

by John Nelson January 23, 2023

NASHVILLE, TENN. — Atlas Real Estate Partners has completed construction on the first phase of Standard Assembly, a mixed-use multifamily development in the Nashville neighborhood of Wedgewood-Houston. In addition to the property’s 310 units in studio, one- and two-bedroom layouts, the community features 13,000 square feet of retail space, a two-story clubhouse and onsite coworking space. Retail tenants at the development will include Mota Moda, a motorcycle-themed food-and-beverage concept. The development team included locally based EOA Architects, Hardaway Construction, Manuel Zeitlin Architects and Peck Design Associates. Atlas acquired the 3.3-acre site for the project in July 2019. The second phase is scheduled for completion in spring of this year.

January 23, 2023

Development Industrial South Carolina Southeast

Hunt Midwest Delivers 476,280 SF Industrial Development in Lyman, South Carolina

by John Nelson January 23, 2023

LYMAN, S.C. — Kansas City-based Hunt Midwest has completed construction on Fort Prince Logistics Center, an industrial project comprising 476,280 square feet in Lyman, roughly 20 miles northeast of Greenville. Located within Fort Prince Industrial Park at 1090 Fort Prince Blvd., the cross-dock development features 48 dock positions with 36-foot clear heights, mechanical dock equipment, 7-inch concrete slab flooring, speculative office space, 189 surface parking stalls (expandable to 385), up to 125 tractor trailer parking stalls and a 135-foot-deep truck court. Seamon Whiteside provided civil engineering services; LS3P designed the building; and Evans General Contractors oversaw construction. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will handle leasing at the development.

January 23, 2023

Acquisitions Kentucky Multifamily Southeast

Kirkland Brokers Sale of 216-Unit Shillito Park Apartments in Lexington, Kentucky

by John Nelson January 23, 2023

LEXINGTON, KY. — The Kirkland Co. has brokered the sale of Shillito Park Apartments, a 216-unit multifamily development located in Lexington. Built in 1990, the community features floorplans in one- and two-bedroom layouts and amenities including a saltwater pool, clubhouse with a movie theater, recreation room, fitness center and a laundry room. An entity doing business as Shillito HT LLC purchased the property from a seller doing business as Shillito Park LLC for an undisclosed price. Brandon Wilson, Brian Devlin and John Seale of Kirkland arranged the sale.

January 23, 2023

Florida Leasing Activity Retail Southeast

Guitar Center Opens 300th Store with 15,000 SF Location in Naples, Florida

by John Nelson January 23, 2023

NAPLES, FLA. — Guitar Center has opened a 15,000-square-foot store at the Gateway Shoppes in Naples, marking the 300th location for the brand. The location will feature Guitar Center’s latest design, including a lessons facility, rental department and hands-on DJ experience. Owned by Benderson Development, Gateway Shoppes is located at 13585 Tamiami Trail N. Bruce Shepard of TSCG arranged the lease on behalf of Guitar Center.

January 23, 2023

Development District of Columbia Multifamily Southeast

Crescent Communities Breaks Ground on 197-Unit Apartment Community in D.C.

by John Nelson January 20, 2023

WASHINGTON, D.C. — Crescent Communities has broken ground on NOVEL 14th Street, a multifamily development located at 2601 14th Street NW in Washington, D.C. Upon completion, the project will feature 197 units in studio, one- and two-bedroom layouts. Amenities at the property will include a Land of a Thousand Hills Coffee & Social location, rooftop pool and clubhouse, ground-level courtyard, fitness center, coworking space and a library. The first residences are scheduled for completion in early 2025. Hord Coplan Macht is serving as architect on the project, with Streetsense providing interior design. Vika Capitol is delivering civil engineering services, Lee and Associates Inc. is providing landscape architecture and J. Moriarty & Associates is acting as general contractor.

January 20, 2023

Acquisitions Florida Retail Southeast

Fairway Purchases 64,441 SF Shopping Center in Tampa Suburb

by John Nelson January 20, 2023

LUTZ, FLA. — Birmingham, Ala.-based Fairway Investments has acquired Livingston Market Place, a 64,441-square-foot shopping center located in the northern Tampa suburb of Lutz. Situated on 32.8 acres at 2701-2801 E. County Line Road, the property is anchored by Publix. Other tenants at the center, which was completed in 2022 and fully leased at the time of sale, include Heartland Dental, Papa John’s, Prime Barber and 40 Thieves Irish Pub. Bryan Belk and John Tennant of Franklin Street arranged the sale on behalf of the seller/developer, a partnership between Tampa-based Dunphy Development and Atlanta-based Batson-Cook Development Co. The sales price was not disclosed.

January 20, 2023

Acquisitions Development Georgia Industrial Southeast

CBRE Arranges Land Acquisition for 585,900 SF Industrial Park in Gainesville, Georgia

by John Nelson January 20, 2023

GAINESVILLE, GA. — CBRE has arranged the purchase of 56.8 acres of land in Gainesville, roughly 55 miles northeast of Atlanta, on behalf of the buyer, Logistics Property Co. The Gainesville and Hall County Development Authority sold the property to the developer for an undisclosed price. Logistics Properrty will develop a two-building, 585,900-square-foot industrial park at the site that will be called Gainesville 85 Business Center. Upon completion, the development will feature 32-foot clear heights, 128 trailer spaces and 422 auto parking spaces. Todd Barton, Mark Hawks, Joanna Blaesing and Matt Higgins of CBRE’s Industrial Properties Group in Atlanta represented the buyer in the land transaction and will handle leasing of the project.

January 20, 2023

Acquisitions Industrial Maryland Office Southeast

St. John Properties Acquires 120,000 SF Aviation Business Park in Metro Baltimore

by John Nelson January 20, 2023

GLEN BURNIE, MD. — Locally based St. John Properties has acquired Aviation Business Park, a three-building commercial portfolio comprising 120,000 square feet in Glen Burnie, approximately 10 miles south of Baltimore. St. John acquired the properties — located at 6956, 6958 and 6960 Aviation Blvd. — from Miami-based Adler Real Estate Partners for $13.3 million. The buildings were roughly 63 percent leased at the time of sale. St. John plans to invest $1.5 million to reposition one of the properties to flex/R&D space. Graham Savage, Jonathan Carpenter and Dawes Milchling of Cushman & Wakefield represented the seller in the transaction. St. John was self-represented. This marks the second significant acquisition for the company in recent months, following the purchase in November of Triangle Business Park, a 95 percent occupied, four-building portfolio in metro Baltimore comprising 74,000 square feet.

January 20, 2023

Acquisitions Hospitality Mississippi Southeast

Marcus & Millichap Brokers $4.4M Sale of Super 8 Motel in Gulfport, Mississippi

by John Nelson January 20, 2023

GULFPORT, MISS. — Marcus & Millichap has brokered the $4.4 million sale of a Super 8 Motel located in Gulfport along the Gulf of Mexico. Comprising 95 rooms, the property underwent a $1 million renovation in 2021, including installation of a new roof and air conditioning units in 75 rooms, interior and exterior painting and new signage. Ahmed Kabani, Lucas Mondino and Suraj Dalal of Marcus & Millichap represented the seller, an entity doing business as NH Hotel LLC, in the transaction. The team also secured and represented the buyer, Shreeji Hotels LLC, an individual trust. William Davis, Marcus & Millichap’s broker of record in Mississippi, assisted in closing the transaction.

January 20, 2023

Affordable Housing Development Loans Multifamily North Carolina Southeast

Urban Atlantic, Inlivian Secure $84M in Debt and Public Financing for Mixed-Income Project in Uptown Charlotte

by John Nelson January 19, 2023

CHARLOTTE, N.C. — Urban Atlantic, in partnership with Inlivian and its nonprofit development subsidiary, Horizon Development Properties (HDP), has secured $84 million in debt and public financing for the construction of Trella Uptown, a mixed-income apartment community to be built at 426 North Tryon Street in uptown Charlotte. Inlivian is the City of Charlotte’s housing authority. Totaling 353 units and 330,000 square feet, the community will feature 106 affordable housing units. Of these, 35 will be reserved for residents earning 80 percent of area median income (AMI); two will be for residents earning 60 percent of AMI; 37 will be for residents earning 50 percent of AMI; and 32 will be for residents earning 30 percent or less of AMI. C.O.R.E. Programs Inc. will provide supportive services to residents in the latter category. Chase Bank provided two separate loans, including $50.6 million for the construction of Trella Uptown’s market-rate units and $16.3 million for the construction of the property’s affordable units. HDP will also provide a $7.8 million construction loan. The City of Charlotte is providing $3.2 million from its Housing Trust Fund, and Mecklenburg County is providing $6 million in the form of an affordable housing grant. Other capital …

January 19, 2023

Newer Posts

Older Posts