CHARLOTTE, N.C. — Franklin Street has arranged the sale of Riverbend Village, a 31,721-square-foot retail property in northwest Charlotte. Bryan Belk and John Tennant of Franklin Street represented the sellers, Simpson Commercial and Landmark Development, in the transaction. CenterSquare Investment Management, a Philadelphia-based real estate investment manager, was the buyer. The sales price was not disclosed. Built in 2019, Riverbend Village features tenants including AT&T, Chicken Salad Chick, Great Clips, Heartland Dental, Jersey Mike’s Subs and Red Wing Shoes. The property has eight end caps that provide patio seating for the restaurant tenants. Located at 9515 Riverbend Village, the property shares a site with several outparcels, including Chick-fil-A, Freddy’s Frozen Custard & Steakburgers, Taco Bell and Dunkin’. The property is also situated adjacent to a Walmart Supercenter. The Riverbend Village shopping center is part of a large-scale mixed-use development that includes 200,000 square feet of retail and is anchored by a Harris Teeter grocery store. Upon completion, the Riverbend project will include 105 townhomes, 266 apartments and a 120-room Courtyard Marriott, along with office, medical and additional retail space.
PLANT CITY, FLA. — BayCare Health System has broken ground on South Florida Baptist Replacement Hospital, a $326 million expansion project of South Florida Baptist Hospital in Plant City. Built in 1953, the hospital has undergone 12 major expansions and renovations since opening, including the expansion of the Heart and Vascular Center in 2017. The new project includes 150 private patient rooms with the capacity to expand by an additional 30 rooms, two inpatient bed towers, an 85,000-square-foot medical office building, central energy plant and 1,073 parking spaces. There will be no disruptions with the patients, doctors or staff at the current hospital, according to BayCare Health. Barton Malow is the general contractor for the project and is anticipating a construction timeline of 26 months.
NORTH BETHESDA, MD. — Choice Hotels International Inc. has signed a long-term lease to occupy 105,000 square feet in 915 Meeting St., a 276,000-square-foot office building to be constructed in North Bethesda. The office tower will be situated within Pike & Rose, a mixed-use development owned and developed by Federal Realty Investment Trust. Expected to break ground later this year, 915 Meeting St. will serve as Choice Hotels International’s new headquarters. Bernie McCarthy and Danny Sheridan of JLL represented Federal Realty in the lease negotiations, and Steve London of Savills represented Choice Hotels. The 16-story office building will feature amenities such as a rooftop conference center with collaborative common areas and a fitness center, as well as 9,600 square feet of ground floor retail space, approximately 25,000-square-foot flexible floor plates and 700 dedicated parking spaces. Gensler designed the building to achieve LEED Gold certification. Pike & Rose is a transit-oriented mixed-use development with more than 400,000 square feet of retail, services, dining and entertainment offerings. The development includes 300,000 square feet of existing office product as well, which includes tenants such as Bank of America, JLL, Industrious, OneDigital and Federal Realty’s corporate headquarters. The building is 40 percent preleased to …
SOUTH DAYTONA, FLA. — Marcus & Millichap has brokered the $15.9 million sale of Sunshine Plaza, a shopping center in South Daytona. Built in 1970 and renovated in 2002, the 280,000-square-foot shopping center is anchored by Publix and All Aboard Storage. The fully occupied property has about 52 tenants. The center includes both open-air and indoor mall space on approximately 25 acres. Tim Giambrone and Al Taf of Marcus & Millichap represented the seller, 2400 Ridgewood LLC based in Port Orange. The buyer was ORF VII Sunshine Plaza LLC based in Atlanta. Located at 2400 S. Ridgewood Ave., Sunshine Plaza is situated close to Interstate 95 within an Opportunity Zone.
SOUTHAVEN, MISS. — JLL Capital Markets has arranged the sale of Southaven Distribution Center I, a fully leased, 156,825-square-foot, Class A distribution facility in Southaven, a Memphis suburb situated on the Tennessee-Mississippi border. Completed in 2020, Southaven Distribution Center I features tilt-wall construction, 32-foot clear heights, 28 loading positions, ESFR fire protection and office space. The property was fully leased to three tenants at the time of sale. Dennis Mitchell, Matt Wirth, Britton Burdette, Mitchell Townsend and Jack Wohrman of JLL represented the seller, Distribution Realty Group, which has offices in Chicago and Nashville. Newport Beach, Calif.-based Bixby Land Co. acquired the property for an undisclosed price. Located on 8.7 acres at 8921 Airways Blvd., Southaven Distribution Center I is situated just off Interstate 55 near Memphis International Airport.
PETERSBURG, VA. — Eastern Union has secured an $8.2 million loan for the acquisition of South Crater Square and Pinehill Plaza, two single-story retail centers in Petersburg. Marc Tropp of Eastern Union arranged financing for the acquisition, which had a sales price of $10.3 million in total, on behalf of the buyer, Pikesville, Md.-based America’s Realty. The retail centers, which total 192,510 rentable square feet, are situated opposite from each other along South Crater Road. Located at 3330 S. Crater Road, South Crater Square is a 107,028-square-foot center and was 83 percent leased at the time of sale to retailers such as Dollar Tree, Hibbett Sports, GameStop and Sun Nails. Located at 3333 S. Crater Road, Pinehill Plaza is a 85,482-square-foot center and was 29 percent occupied at the time of sale with tenants such as Crater Vision Center, Salon 22, Community Cardiology and Clay Home Medical. The acquisition component of the loan, which equals about $7.7 million, represents a 75-percent loan-to-value ratio. The undisclosed bank provided an additional $500,000 loan toward tenant improvements and leasing commissions, but this part of the loan was held back for future use once the properties are stabilized. The interest rate on the full-recourse …
CHARLOTTE, N.C. — The City of Charlotte and the Charlotte Regional Visitors Authority (CRVA) have opened the Charlotte Convention Center in Uptown Charlotte. The $126.9 million expansion project broke ground in December 2019 and added approximately 50,000 square feet of meeting room and pre-function space, taking the venue’s total leasable space to 600,000 square feet. The number of meeting rooms increased from 41 to 55 and now includes two 10,000-square-foot spaces. New to the convention center is an exterior over street pedestrian walkway, which connects the property to the adjacent 700-room Westin Charlotte hotel and a LYNX Blue Line light rail stop. The newly expanded convention center is the anchors of Uptown Charlotte, an urban submarket that features 200-plus restaurants and more than 6,000 hotel rooms. Atlanta-based TVS, the original designer of the Charlotte Convention Center, served as the architect for the expansion project. Holder-Edison Foard-Leeper JV was the construction manager.
FORT WALTON BEACH, FLA. — Cushman & Wakefield has arranged the sale of Elevate at 604 West and Greens on 5th, two apartment communities totaling 195 units in Fort Walton Beach. Parker Caldwell and Craig Hey of Cushman & Wakefield represented the seller, Lurin Capital, in the transaction. Pedcor acquired both properties for $30.6 million. Elevate at 604 West includes 99 units and offers one- and two-bedroom floorplans that average 678 to 958 square feet. Built in 1971, the units feature walk-in closets, hardwood floors, tub and shower and Wi-Fi. Community amenities include a swimming pool, greenspace, laundry facility and courtyards. Elevate at 604 West was 97 percent occupied at the time of sale. Located at 604 Colonial Drive, the property is situated 8.5 miles from Destin-Fort Walton Beach Airport and 10.7 miles from Destin. The Greens on 5th totals 96 units and offers two- and three-bedroom floorplans that average approximately 830 to 1,200 square feet. Built in 1983, units include washer/dryer hookups, linen closets, carpet and Wi-Fi. Community amenities include a swimming pool, clubhouse, elevator and laundry facilities. The Greens on 5th was 98 percent occupied at the time of sale. Located at 5 Mooney Road NE, the apartment …
WINTER HAVEN, FLA. — Tampa-based Coca-Cola Beverages Florida LLC (Coke Florida) has purchased a 407,000-square-foot warehouse within Central Intermodal Logistics Center, an industrial park in Winter Haven. The sales price was $19.6 million, according to the Tampa Bay Business Journal. The seller was not disclosed. The purchase includes 37 acres of land. Coke Florida’s new warehouse is still under construction. The more than $30 million buildout of the new location is expected to conclude in the spring of 2022. The location is home to more than 200 associates, and the company expects to add over 100 additional jobs in the next 12 months. Coke Florida offers jobs in sales, merchandising, warehousing and distribution, and the company currently has openings for drivers, warehouse associates and sales merchandisers.
MIAMI GARDENS, FLA. — MMG Equity Partners has received $16.8 million to refinance Miami Gardens Shopping Center, located at 18350 NW 7th Ave. in Miami Gardens. Chris Drew, Brian Gaswirth and Reid Carleton of JLL Capital Markets arranged the debt package through Guardian Life Insurance Co. of America. Miami Gardens Shopping Center is a 117,829-square-foot, grocery-anchored development located on the northwest corner of Miami Gardens Drive and NW 7th Avenue. The shopping center was 97 percent occupied at closing and is anchored by Presidente Supermarket. Other tenants include Family Dollar, Humana Health, Subway and Amscot.