Southeast

CBRE Arranges Sale of 1.1 MSF Industrial Park in Metro Miami

by John Nelson November 22, 2022

MEDLEY, FLA. — CBRE has arranged the sale of a 12-building industrial park in the Miami suburb of Medley totaling nearly 1.1 million square feet. Boston-based TA Realty purchased the portfolio from an unnamed global investment advisor for an undisclosed price. José Lobón, Trey Barry, Frank Fallon, Royce Rose and Devin White of CBRE represented the seller in the transaction. Situated off Okeechobee Road, the park was fully leased at the time of sale to 46 tenants in the aviation, home design and improvement, third party logistics and food distribution industries.

November 22, 2022

Georgia Industrial Leasing Activity Southeast

Cushman & Wakefield Negotiates 401,242 SF Industrial Lease at Gillem Logistics Center in Metro Atlanta

by John Nelson November 22, 2022

FOREST PARK, GA. — Cushman & Wakefield has negotiated a 401,242-square-foot industrial lease at Gillem Logistics Center, a 1,168-acre master-planned industrial park in the south Atlanta suburb of Forest Park. Pat Murphy, Tara Healy, Andrew Thurman, Ray Stache, Lisa Pittman and Ryan Bellows of Cushman & Wakefield represented the landlord, Boston-based TA Realty, in the lease negotiations. The tenant, a subsidiary of Chattanooga, Tenn.-based Covenant Logistics Group, will occupy a portion of Building 1100, which spans 909,590 square feet and was delivered in September.

November 22, 2022

Acquisitions Office South Carolina Southeast

Highland Ventures Purchases Boutique Office Building in Downtown Charleston for $16.8M

by John Nelson November 22, 2022

CHARLESTON, S.C. — Highland Ventures has purchased 174 Meeting, a 47,113-square-foot boutique office building in historic downtown Charleston. Cobalt Property Group sold the property to Highland for $16.8 million. Matt Smith, Patrick Gildea, Grayson Hawkins, Robert Hardaway, Charles Carmody and Ryan Carmody of CBRE represented the seller in the transaction. Insite Properties advised Highland Ventures. Built in 2014 near the intersection of Meeting and Market streets, 174 Meeting was fully leased at the time of sale to tenants including Truist Bank, Thrive Co-Working, Stifel Financial Corp. and Evening Post Industries. The property features three levels of office space above a ground-level bank, lobby and parking.

November 22, 2022

Acquisitions District of Columbia Retail Southeast

Northmarq Brokers $7.6M Sale of Retail Condominium in Downtown D.C. Leased to TD Bank

by John Nelson November 22, 2022

WASHINGTON, D.C. — Northmarq has brokered the sale of a 4,403-square-foot retail condo on the ground floor of the Metropole Condominiums located at 1515 15th St. NW in downtown Washington, D.C. Built in 2008 in the city’s Logan Circle neighborhood, the property was fully leased at the time of sale to TD Bank. Isaiah Harf of Northmarq represented the seller, a private investor based in Maryland, in the transaction. The California-based, 1031 exchange buyer acquired the asset for approximately $7.6 million.

November 22, 2022

Development Healthcare Loans North Carolina Southeast Top Stories

Gantry Arranges $180M in Construction Financing for VA Medical Clinic Near Raleigh

by Jeff Shaw November 22, 2022

GARNER, N.C. — Gantry has arranged $180 million in construction financing for the development of a 250,000-square-foot medical office facility in Garner, a suburb just south of Raleigh. The U.S. Department of Veterans Affairs (VA) has fully pre-leased the property as a community-based outpatient clinic (CBOC) in a long-term agreement. Construction at the 17-acre site is scheduled to begin early next year. Gantry’s George Mitsanas, Peter Hillakas and Austin Ridge secured the construction-to-permanent loan on behalf of a private real estate investment company. One of Gantry’s correspondent life company lenders provided the 22-year loan, which features a fixed rate for the entirety of the loan. The rate was locked earlier this year at time of application. Gantry will act as the loan servicer throughout the loan term. The loan is the fifth in a series of financings this year that Gantry secured on behalf of a sponsor specializing in the construction of VA medical centers, with new loans totaling nearly $500 million in 2022. During the past three years, Gantry has completed over $1.1 billion of project financings for VA medical facilities with various borrowers. “The VA facilities program is part of a strategic effort to expand access to and …

November 22, 2022

Development Florida Industrial Southeast

Onicx, Aries Capital to Build 1 MSF Industrial Park in Edgewater, Florida

by John Nelson November 21, 2022

EDGEWATER, FLA. — Tampa-based Onicx Group has acquired 83 acres of industrial land in Edgewater in a joint venture with Aries Capital. The companies, which acquired the site for $4.2 million, will develop a 1 million-square-foot industrial park called Space Coast Industrial Park at Parktowne. Groundbreaking for the development is expected in January 2023. Phase I will include the construction of two buildings comprising 133,500 and 176,000 square feet, for a total 309,500 square feet. Completion of the first phase is anticipated for the first quarter of 2025. Orlando-based C4 Architecture will serve as the project’s architect. Scott Claiborne of Onicx led the site identification and development approval process, with Neil Freeman, Matt Carney and Brandon Perdeck of Aries overseeing the land acquisition and transaction structure and financing.

November 21, 2022

Development Georgia Multifamily Southeast

Kaplan, Dune Begin Construction on Avondale East Townhome Project in Metro Atlanta

by John Nelson November 21, 2022

STONE MOUNTAIN, GA. — A joint venture between Kaplan Residential and Dune Real Estate Partners has broken ground on Avondale East, a multifamily development that will comprise 239 townhomes in Stone Mountain, roughly 10 miles east of Atlanta. Situated on 20 acres at 3940 Redan Road, the community will feature townhomes with one-, two- and three-bedroom floorplans. Amenities will include an 8,000-square-foot clubhouse, a fitness center, coworking space, lounge, pool, walking trails, pocket parks and fire pits. Locally based Brock Built Homes is the general contractor for the project, with Niles Bolton Associates serving as the architect. Focus Design Interiors and J Lancaster Associates Inc. are providing interior design and civil engineering, respectively. Kaplan acquired the land from The Paideia School in 2021 for $6.5 million.

November 21, 2022

Development Georgia Multifamily Southeast

Vista Residential, BCDC Break Ground on 300-Unit Multifamily Development in Savannah

by John Nelson November 21, 2022

SAVANNAH, GA. — Vista Residential Partners and Batson-Cook Development Co. (BCDC) have broken ground on Riverchase Vista, a 300-unit apartment development located on 15 acres in Savannah. The community, which marks the third joint development project between the two companies, will feature homes in one-, two- and three-bedroom layouts, with an average size of almost 1,000 square feet. Amenities will include a clubhouse, pool, fitness center, pet park and 24/7 package concierge services. First tenants are expected to move in by early 2023, according to the developers.

November 21, 2022

Acquisitions North Carolina Office Southeast

Ram Realty Acquires 377,000 SF South End Business Park in Charlotte

by John Nelson November 21, 2022

CHARLOTTE, N.C. — Ram Realty Advisors has purchased South End Business Park, a 377,000-sqaure-foot office park located in Charlotte’s South End district. Patrick Nally, Hunter Barron and Alexis Kaiser of JLL arranged the transaction on behalf of the seller, Stockbridge. Built in phases from 1979 to 1984, the property was expanded in 2017 with the addition of a new, 50,000-square-foot building. Ram Realty plans to redevelop the business park but did not disclose a timeline.

November 21, 2022

Acquisitions Florida Restaurant Retail Southeast

SRS Brokers $2.7M Sale of Restaurant in Lutz, Florida Ground Leased to Chick-fil-A

by John Nelson November 21, 2022

LUTZ, FLA. — SRS Real Estate Partners has arranged the sale of a 4,854-square-foot, single-tenant retail building in Lutz, approximately 15 miles north of Tampa. Chick-fil-A occupies the property via a ground lease and plans to open next month. Patrick Nutt and William Wamble of SRS represented the seller, Ferber Development, in the $2.7 million transaction. A private Florida-based investor acquired the property, which is located at 17693 Harpers Run and is an outparcel to Cypress Ranch, a 164-acre mixed-use development project.

November 21, 2022

Newer Posts

Older Posts