Southeast

Dermody Completes 154,440 SF Spec Industrial Property in Metro Atlanta

by Julia Sanders January 26, 2022

DECATUR, GA. — Reno, Nev.-based Dermody Properties has completed LogistiCenterSM at Miller Road, a 154,440-square-foot distribution facility in Decatur. Located at 2800 Miller Road, LogistiCenterSM is situated 16.7 miles east of downtown Atlanta. The property features 32-foot clear heights, 150 car parking stalls, 23 trailer stalls, 35 dock-high doors, an ESFR fire protection system and build-to-suit office space. LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply chain requirements for companies. Matt Bentley of NAI Brannen Goddard is the leasing broker for the project. The building is immediately available for lease.

January 26, 2022

Development Florida Multifamily Seniors Housing Southeast

RangeWater to Break Ground on Age-Restricted Multifamily Project in Jacksonville

by Julia Sanders January 26, 2022

JACKSONVILLE, FLA. — Atlanta-based RangeWater Real Estate has plans to break ground on Olea Beach Haven, a 175-unit, age-restricted housing community in Jacksonville. Construction will start in the first half of this year. Olea Beach Haven will offer one-, two- and three-bedroom floorplans. Community amenities will include a dog park, social green space, pool, a library and media rooms. Located on 6.4 acres at 4101 San Pablo Parkway, the property is situated 17.8 miles from downtown Jacksonville, 7.7 miles from the University of North Florida and 5.6 miles from Jacksonville Beach. RangeWater opened its first two Olea-branded properties in Florida in August 2020 and experienced high leasing velocity, leading to stabilization within a year.

January 26, 2022

Acquisitions Georgia Retail Southeast

SRS Brokers $11.6M Sale of Shopping Center in Metro Atlanta

by Julia Sanders January 26, 2022

DOUGLASVILLE, GA. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Douglasville Marketplace, an 86,166-square-foot shopping center located in Douglasville. The seller, a family office out of Dallas, sold the property for $11.6 million to Continental Property Group LLC. Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction, and the buyer was self-represented. Built in 2000 on 9.4 acres, Douglasville Marketplace was fully occupied at the time of sale to tenants including Kaiser Permanente, Ashley Homestore and Best Buy. The property is shadow-anchored by Lowe’s Home Improvement. Located at 775 Douglas Blvd., the property is situated 23.6 miles west from downtown Atlanta and 27.9 miles from the University of West Georgia. The property is also located close to Douglas County High School, Wellstar Douglas Hospital and the Douglas County Courthouse.

January 26, 2022

Alison Williams Walker Dunlop Small Balance Lending

Content Partner Features Loans Midwest Multifamily Northeast Southeast Texas Walker & Dunlop Western

Small Balance Lending Evolves with Technology

by Sarah Daniels January 25, 2022

The small balance multifamily lending industry is antiquated, leaving thousands of prospective borrowers behind in a booming market. Multifamily property owners need access to fast, reliable quotes and a streamlined approach to financing. The current industry practice of quoting from rate sheets does not present a holistic or dynamic picture for borrowers or lenders. Walker & Dunlop is offering an alternative approach with a new digital lending platform that utilizes machine learning to quickly provide customized quotes for small balance multifamily acquisition and refinance loans. The rapid pace of lending means that borrowers need strategic partnerships with small balance loan experts that provide personalized customer experience backed by the data science capabilities to pull comparables, as well as online tools that can both streamline and inform processes. Sponsored: As the #1 multifamily lender in the U.S., Walker & Dunlop is launching a digital lending platform that will deliver tailored quotes in minutes for acquisitions and refinances. The platform uses machine learning powered by millions of data points from Walker & Dunlop’s proprietary property database to offer clients accuracy, transparency and confidence from kickoff to closing. The State of Small Balance Lending Small multifamily properties account for roughly 85 percent of …

January 25, 2022

Acquisitions Affordable Housing Alabama Loans Maryland Multifamily Southeast Virginia

JLL Secures $318.5M Acquisition Financing for Multifamily Portfolio in Southeast US

by Julia Sanders January 25, 2022

ORLANDO, FLA. — JLL Capital Markets has secured a $318.5 million acquisition loan for a six-property multifamily portfolio located across Maryland, Virginia and Alabama. There were multiple sellers for the properties. The 1,494-unit workforce housing portfolio includes the following: Park at Kingsview Village (326 units) in Germantown, Md.; Stonecreek Club (240 units) in Germantown; Hunt Club (336 units) in Gaithersburg, Md.; Springwoods at Lake Ridge (180 units) in Woodbridge, Va.; Windsor Park (220 units) in Woodbridge; and Oaks of St. Clair (192 units) in Moody, Ala. Melissa Marcolini Quinn, Lee Weaver, Drew Jennewein, Rob Rothaug, Emily Moallem and Cody Mizelle of JLL arranged the loan through J.P. Morgan Chase Bank on behalf of the borrower, Carter Multifamily. The floating-rate, non-recourse bridge loan will facilitate a Single Asset Single Borrower (SASB) securitization, which is a single loan large enough to create its own pool for securitization. “This portfolio acquisition featured multiple sellers and a compressed timeframe, with less than 30 days from signed term sheet to closing,” says Quinn. “The team at JP Morgan was able to provide an attractive, short-term, balance sheet financing option, which is ideal for the planned SASB take out.”

January 25, 2022

Florida Loans Multifamily Southeast

Grover Corlew Receives $78.2M Construction Financing for Multifamily Project in Pompano Beach, Florida

by Julia Sanders January 25, 2022

POMPANO BEACH, FLA. — Grover Corlew has received $78.2 million in financing for the first property under the Mayla Residences’ brand called Mayla Pompano, a 355-unit multifamily property in Pompano Beach. PNC Bank provided the construction financing. The project is slated to break ground in February with completion expected by July 2023. Mayla Pompano will be a two-building project and offer studio, one-, two- and three-bedroom layouts, ranging from 548 to 1,383 square feet. Unit features will include bathrooms with soaking tubs, frameless shower enclosures, back-lit vanity mirrors, quartz countertops, stainless steel appliances, built-in microwaves, glass cooktops, walk-in closets, private balconies, hurricane impact windows and in-unit washers and dryers. Community amenities will include a two-story clubroom, coworking spaces, TV lounge, fitness center, pools with cabanas, outdoor kitchens with seating at both buildings, pedestrian bridge between buildings, dog spa, bicycle storage and repair station, garage parking and interior mailrooms and package rooms. The property will also feature 60,000 square feet of retail space on the ground floor. Mayla Pompano will be situated on nearly three acres of underutilized parking lots behind Grover Corlew’s 2401 Atlantic and 2335 Atlantic office buildings. Located at 2335 and 2401 E. Atlantic Blvd., the property is …

January 25, 2022

Acquisitions Office Southeast Tennessee

IPA Arranges Sale of 85,569 SF Office Property in Metro Nashville

by Julia Sanders January 25, 2022

MURFREESBORO, TENN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Stonegate Corporate Center, an 85,569-square-foot office building in Murfreesboro. Joe Massa, Anthony Lunceford and Michael Grenaway of IPA represented the undisclosed seller and procured the undisclosed buyer in the transaction. The sales price was not disclosed. Built in 2005, Stonegate Corporate Center was 94 percent leased at the time of sale to tenants including Regional Information Sharing Systems, Baird and Northwest Mutual. Additionally, the property is anchored by The Department of Veteran Affairs, which occupies about 35 percent of the property’s total rentable square footage. Located at 1639 Medical Center Parkway, Stonegate Corporate Center is situated across from Ascension Saint Thomas Rutherford Hospital. The property is also 34.3 miles south of downtown Nashville and 35.4 miles from Franklin.

January 25, 2022

Acquisitions Florida Retail Southeast

Marcus & Millichap Brokers $10.4M Sale of Three-Tenant Retail Property in Coconut Creek, Florida

by Julia Sanders January 25, 2022

COCONUT CREEK, FLA. — Marcus & Millichap has arranged the $10.4 million sale of a three-tenant retail property in Coconut Creek. Michael Salafia, Gabriel Britti, Ricardo Esteves and Ronnie Issenberg of Marcus & Millichap represented the seller, a publicly traded REIT, and procured the buyer, Boca Gas Co. The tenants at the two-building property include a Shell Station, Daily’s Convenience store and a Firestone Complete Auto Care Center. The property spans 94,090 square feet on 2.2 acres at 6350 N State Road 7 and 6330 US-331 South. Both properties are surrounded by retailers including BJs, Publix, Walmart Supercenter, Kohl’s, Starbucks and Chick-fil-A.

January 25, 2022

Acquisitions Industrial South Carolina Southeast

Alice Manufacturing Sells 343,686 SF Distribution Center in Metro Greenville

by Julia Sanders January 25, 2022

EASLEY, S.C. — Alice Manufacturing Co. Inc., a textile company, has sold Arial Mill, a 343,686-square-foot distribution center in Easley, about 12.6 miles west of Greenville. Farpoint Acquisitions LLC purchased the property for $2.6 million. Nick Hollstegge and Katherine Southard of CBRE represented the seller in the transaction. Located on 19.2 acres at 212 Rice Road, Arial Mill is situated within an Opportunity Zone on the Highway 8 corridor. The property is also within five miles of Pickens County Commerce Park and Pickens County Airport, and within 20 miles of downtown Greenville and Clemson University. Originally built as a textile mill in 1924, Arial Mill most recently served as a distribution center for textile products.

January 25, 2022

Georgia Leasing Activity Office Southeast

Airbnb to Open New Offices in West Midtown Atlanta

by Julia Sanders January 24, 2022

ATLANTA — Airbnb, a San Francisco-based lodging company, plans to open a new technical hub in the West Midtown neighborhood of Atlanta. Dubbed Atlanta Tech Hub, the new office will be situated within Encore, a 50,000-square-foot space inside SJC Ventures’ Interlock mixed-use project at the corner of 14th Street and Howell Mill Road. Situated about three miles from Georgia State University and one mile from Georgia Tech, Airbnb’s office space is scheduled to open later this year. Encore is a creative loft and mixed-use office space that is dedicated to technology startup growth and expansion. Airbnb’s initial office will be 5,000 square feet with eventual plans to move to a bigger space later on. Georgia Advanced Technology Ventures, an affiliate of the Georgia Tech, is managing Airbnb’s new offices. In the beginning of 2021, Airbnb first announced it was opening a new hub in Atlanta but did not disclose what part of the city. The lodging company says it hopes to add new high-skilled technical and non-technical jobs at the tech hub. According to research by Oxford Economics, in 2019, Airbnb guest spending in Atlanta supported 3,400 jobs, including 1,200 jobs in the restaurant business. The company also says it …

January 24, 2022

Newer Posts

Older Posts