Southeast

NASHVILLE, TENN. — Serendipity Labs, a flexible and coworking operator based in New York, plans to open and operate customizable office suites and supporting services at L&C Tower, an office building located at 159 4th Ave. N in downtown Nashville. The firm will bring two team speculative suites on the second floor spanning 4,800 and 5,800 square feet, which can house 24 and 29 employees, respectively. Additionally, Serendipity Labs will open a traditional office space spanning 10,500 square feet on the third floor that will offer a dedicated café space, several meeting rooms and work-lounge areas that can accommodate 100-plus employees. These spaces can support entrepreneurs looking for a single office or companies and teams looking for flexible and collaborative spaces. Tenants will also be able to access L&C Tower’s existing amenities, including concierge services, a fitness center, conference facilities and a private room with a Main Distribution Frame for secure Wi-Fi connectivity. Additionally, Serendipity Labs has selected Stream Realty Partners as its exclusive brokerage partner to help lease these spaces. Multiple spaces are available with month-to-month terms for up to 24 months.

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PLANTATION, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $22.3 million sale of Plantation Crossings, a 70,369-square-foot shopping center located in the South Florida city of Plantation. Kirk Olson and Drew Kristol of IPA, along with Barry Wolfe of Marcus & Millichap, represented the seller, an entity doing business as Plantation Crossings LLC, and procured the buyer, Azora Exan – USA, in the transaction. The property was developed in 1999 and is home to tenants including Aldi, My Salon Suite, Sherwin-Williams, Concentra Health, Fitness System and Family Eye Center.

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CHARLOTTE, N.C. — Equus Capital Partners Ltd. has sold The Rotunda, a four-story, 234,670-square-foot office building located in Charlotte’s SouthPark submarket. An institutional real estate investment fund manager based in Atlanta purchased the property for an undisclosed price. Ryan Clutter and Chris Lingerfelt of JLL represented the metro Philadelphia-based seller, which sold the property via its Equus Investment Partnership X LP investment vehicle. Equus purchased The Rotunda in 2017 and completed a $4.5 million renovation in 2019 that comprised upgrades to the restrooms, main building lobby, upper floor elevator lobbies, elevator cab interiors, lighting in the portico, cooling tower replacement, creating a new amenity space and activating a 4,500 square-foot outdoor patio on the building’s south side that overlooks Symphony Park. Built in 1998, The Rotunda features a two-level parking deck, conference center, outdoor seating areas, onsite property management and a restaurant, Village Tavern.

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LIBERTY, N.C. — Automotive giant Toyota Motor Corp. has announced an additional investment of $2.5 billion in its newest North American facility, Toyota Battery Manufacturing North Carolina (TBMNC) in Liberty. This investment adds capacity to support battery electric vehicle (BEV) battery production and will add 350 jobs, bringing the total employment at the campus to approximately 2,100 and the total investment to $3.8 billion. Scheduled to begin production in 2025, the new facility will produce batteries for hybrid electric vehicles (HEV) and BEVs.

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CARY, N.C. — An affiliate of Walton Street Capital LLC has originated a $69.8 million acquisition loan for Aventura Crossroads, a 344-unit apartment community located at 1010 Legacy Village Drive in Cary, a suburb of Raleigh. The borrower is a partnership between The Bainbridge Cos. and Virtus Real Estate Capital. Built in 2009, Aventura Crossroads was 98 percent occupied at the time of sale. The garden-style community features one-, two- and three-bedroom units averaging 1,154 square feet. Amenities include a recently renovated clubhouse, upgraded fitness center, pet spa and an outdoor pool. The seller and sales price were not disclosed.

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MIAMI — Berkadia has arranged a $57.5 million construction loan for Fourteen Residences Allapattah, a 237-unit apartment community located within an opportunity zone at 1470 N.W. 36th St. in downtown Miami’s Allapattah neighborhood. Charles Foschini, Chris Apone and Shannon Wilson of Berkadia’s Miami office secured the financing on behalf of the borrower, Neology Life Development Group, a residential and commercial real estate firm led by Lissette Calderon. Jeff Rosenfeld and Sean Robertson originated the 24-month loan, which features two extension options, internally for the lender, Churchill Real Estate. Upon completion in early 2024, Fourteen Allapattah Residences will consist of a 14-story building with 180 apartment units connected via a pool deck to a five-story building with 57 apartments. The property will be situated within walking distance from the Allapattah Miami Metrorail Station, Rubell Museum and SuperBlue, an immersive art museum. The community will offer studio, one- and two-bedroom units ranging from 450 to 900 square feet. Amenities will include original artwork, a multipurpose lobby, media lounges and living rooms, rooftop pool and clubhouse, poolside cabanas, coworking spaces, conference rooms, outdoor movie screen, an indoor and outdoor fitness and wellness center, dog park with dog wash area, bike storage, virtual concierge …

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NEWPORT, KY. — BC Wood Properties, a value-add shopping center investment firm based in Lexington, Ky., has purchased two retail centers in Newport, a suburb of Cincinnati. The adjacent assets, Newport Shopping Center and Newport Plaza, total 429,399 square feet. Newport Shopping Center’s tenant roster includes Newport Racing & Gaming, Crunch Fitness, Family Dollar, Dollar General, Cricket Wireless, H&R Block and GNC. Newport Plaza’s tenants include Fresh Thyme, Planet Fitness, Ace Hardware and Dollar Tree. Both centers also house several locally based stores and restaurants. BC Wood acquired the centers via its investment vehicle BC Wood Real Estate Fund III. The seller and sales price were not disclosed. With this acquisition, BC Wood now owns and operates 10 shopping centers in Kentucky.

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ALPHARETTA, GA. — Lincoln Property Co. Southeast (LPC Southeast) has negotiated several new leases, lease expansions and extensions at NorthWinds Office Park in Alpharetta totaling more than 90,000 square feet. Hunter Henritze, Michael Howell, Caroline Fisher and Robert deGolian of LPC Southeast represented the landlord, The Brookdale Group, in the lease negotiations. The tenants for these lease deals at the 1 million-square-foot, seven-building office park include: • Deposco (extending by 11,025 square feet); • Campbell & Brannon (extending by 17,425 square feet); • US Orthopedic Partners (new 10,445-square-foot lease); • Goldman Sachs (expansion/extension of 7,579 square feet); • Hanover Insurance Co. (new 7,119-square-foot lease); • Homrich Berg (new 6,992-square-foot lease); • Weissman P.C. (6,991-square-foot lease extension); • REP Perimeter Holdings (extended by 6,803 square feet); • CBIZ (6,514-square-foot lease extension); • Instant Financial (4,151 lease extension/expansion); • Adair & Baker (2,896-square-foot extension); and • H Clay Moore & Associates Inc. (new 2,762-square-foot lease) NorthWinds is located about 26 miles north of Atlanta and within one mile from Avalon and Ga. Highway 400. In addition to offices, the campus includes two hotels, two banks, nine restaurants, two complimentary fitness facilities, a daycare and learning facility and six free conference and training …

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CHARLOTTE, N.C. — Blackfin Real Estate Investors has sold Pressley South End, a 504-unit apartment community located at 1210 Pressley Road in Charlotte’s South End submarket. The undisclosed buyer purchased the community for $78 million. Built in 1969, the property comprises one-, two- and three-bedroom units and features onsite management and maintenance teams, a basketball court, playground, pet park and a walking trail. Deaton Investment Real Estate represented Blackfin in the transaction, which is the firm’s third sale in 2022. Blackfin purchased Pressley South End in June 2017 for $19 million.

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ORLANDO, FLA. — Trinitas Ventures, a multifamily and mixed-use developer based in Lafayette, Ind., has received $67.3 million in construction financing for a 286-unit, 750-bed student housing development located near the University of Central Florida campus in Orlando. Citizens Financial Group’s commercial real estate finance team is acting as the sole lead arranger, book runner and administrative agent for the financing. Further details of the project were not disclosed. Citizens has also financed Trinitas student housing projects at Miami University in Ohio, Washington State University and University of Nebraska.

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