Southeast

Toyota Announces $2.5B Expansion, 350 New Jobs at North Carolina Battery Manufacturing Plant

by John Nelson August 31, 2022

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.

August 31, 2022

Acquisitions Loans Multifamily North Carolina Southeast

Walton Street Capital Originates $69.8M Acquisition Loan for Metro Raleigh Apartment Community

by John Nelson August 31, 2022

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.

August 31, 2022

Development Florida Loans Multifamily Southeast

Berkadia Arranges $57.5M Construction Loan for Multifamily Project in Miami’s Allapattah Neighborhood

by John Nelson August 31, 2022

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 …

August 31, 2022

Acquisitions Kentucky Retail Southeast

BC Wood Acquires Two Shopping Centers in Newport, Kentucky Totaling 429,399 SF

by John Nelson August 31, 2022

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.

August 31, 2022

Georgia Leasing Activity Office Southeast

LPC Southeast Negotiates 90,000 SF of Leases at NorthWinds Office Park in Alpharetta, Georgia

by John Nelson August 31, 2022

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 …

August 31, 2022

Acquisitions Multifamily North Carolina Southeast

Blackfin Sells Pressley South End Apartments in Charlotte for $78M

by John Nelson August 30, 2022

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.

August 30, 2022

Development Florida Loans Southeast Student Housing

Trinitas Receives $67.3M Construction Financing for Student Housing Development Near UCF in Orlando

by John Nelson August 30, 2022

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.

August 30, 2022

Acquisitions Healthcare Mixed-Use Retail Southeast Tennessee

PEBB Enterprises Sells Mixed-Use Shopping Center in Suburban Memphis for $35.5M

by John Nelson August 30, 2022

GERMANTOWN, TENN. — PEBB Enterprises has sold Germantown Village Square, a 199,142-square-foot mixed-use property located at 7670 Poplar Ave. in the Memphis suburb of Germantown. Evan Halkias and Margaret Jones of Cushman & Wakefield represented PEBB in its $35.5 million sale of the property to Hendon Properties LLC. Germantown Village Square includes 138,995 square feet of ground-floor retail space and 60,147 square feet of second-floor office space occupied primarily by West Clinic, a subsidiary of Baptist Memorial Health Services. Built in 1975 and renovated in 2000, the center was 90 percent leased at the time of sale to tenants including T.J. Maxx, DSW, Ulta Beauty, Old Navy and Five Below.

August 30, 2022

Acquisitions Florida Industrial Southeast

Westmount Realty Capital Sells 246,818 SF Refrigerated Warehouse in St. Augustine, Florida

by John Nelson August 30, 2022

ST. AUGUSTINE, FLA. — Westmount Realty Capital has sold a 246,818-square-foot refrigerated warehouse located at 4055 Deer Park Blvd. in St. Augustine. Built on 25 acres in 1994, the property was fully leased at the time of sale to KeHE Distributors, a national wholesale food distributor. The firm has been a tenant at the Deer Park facility since 2008. The buyer and sales price were not disclosed.

August 30, 2022

Acquisitions Industrial Maryland Southeast

Cushman & Wakefield Arranges Sale of 200,000 SF Industrial Property in Baltimore

by John Nelson August 30, 2022

BALTIMORE — Cushman & Wakefield has arranged the sale of a 200,000-square-foot warehouse at 3501 E. Biddle St. in Baltimore. The 36-acre site is situated near the Port of Baltimore, I-95 and I-895 and includes two acres of available land for leasing. Metro Chicago-based Industrial Outdoor Ventures (IOV) purchased the property from SK Realty for an undisclosed price. Jonathan Carpenter, Graham Savage and McLane Fisher of Cushman & Wakefield represented IOV in the transaction. The warehouse was fully leased to three tenants at the time of sale.

August 30, 2022

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