Southeast

Shoma Group Sells Sanctuary Doral Apartments in South Florida for $102.5M

by Julia Sanders October 13, 2021

DORAL, FLA. — Shoma Group has sold Sanctuary Doral Apartments, a 226-unit, six-story apartment building in Doral. The buyer, Avanti Group, purchased the property for $102.5 million, or $453,539 per unit. Still Hunter of Walker & Dunlop represented the seller in the transaction. Built in 2020, Sanctuary Doral includes one-, two- and three-bedroom floorplans. Rental rates average $2,210 to $3,660 for a 12-month lease and $2,410 to $3,860 with a seven-month lease. Other community amenities include a gym with steam room and sauna, pet spa, pool, bike path, mini soccer field, yoga lawn and a two-story clubhouse. The apartment property was fully occupied at the time of sale. Located at 9400 NW 41st St., Sanctuary Doral is situated close to retailers and restaurants such as McDonald’s, Walgreens, Starbucks and Publix. The apartment community is also about 13.3 miles from downtown Miami and 17.7 miles from Miami Beach.

October 13, 2021

Development Georgia Loans Mixed-Use Southeast

JLL Secures Construction Financing for $2B High Street Project in Atlanta’s Central Perimeter

by Julia Sanders October 13, 2021

ATLANTA — JLL Capital Markets has arranged a construction loan for the development of Phase I of High Street, a $2 billion, 36-acre mixed-use development along Perimeter Center Parkway in Atlanta’s Central Perimeter submarket. Ed Coco and Matt Casey of JLL arranged the loan through Bank OZK on behalf of the developer, owner and operator of the project, GID Development Group. The loan amount was not disclosed. High Street will feature approximately 150,000 square feet of retail and restaurants, 600 luxury apartments, 90,000 square feet of loft offices and 222,000 square feet of existing office space. In September, Puttshack, an entertainment-driven mini golf retailer, signed a 26,000-square-foot lease at High Street to be the first anchor tenant at the development. High Street is situated across from the Dunwoody MARTA station and is close to Ga. Highway 400 and the Interstate 285 perimeter loop. GID will break ground on the first phase of High Street this year, with completion slated for 2024. Molly Morgan, Allie Spangler, Jeff Bellamy and Claire Ross of JLL represents GID in the retail and office leasing at High Street.

October 13, 2021

Acquisitions Arkansas Retail Southeast

Global Net Lease Acquires Walmart Learning Center in Bentonville, Arkansas for $40.6M

by Julia Sanders October 13, 2021

BENTONVILLE, ARK. — Global Net Lease Inc. (GNL) has acquired the Walmart Learning Center, a 90,000-square-foot training and development center in Bentonville that is leased to Walmart Inc. The sales price was $40.6 million. The Walmart Learning Center serves as the primary digital and onsite training and development facility for Walmart associates. The retail giant has seven years of remaining lease term at the facility.

October 13, 2021

Leasing Activity Office Southeast Virginia

Software Firm Signs 49,257 SF Office Lease at 3TWENTY3 in Charlottesville, Virginia

by Julia Sanders October 13, 2021

CHARLOTTESVILLE, VA. — General Atomics Commonwealth Computer Research Inc., a locally based advanced analytics and software solutions firm, has signed a 49,257-square-foot office lease within the 3TWENTY3 building in Charlottesville. Totaling 120,000 square feet, 3TWENTY3 is a five-floor office building that was built on top of a four-story, 200-space parking structure. Building amenities include a pedestrian plaza/walkway, common lobby gathering space, LEVEL10 rooftop area with event and conference space, catering kitchen, patio, electric car charging stations and covered bike racks. Located at 323 2nd St. SE, the property will be located near downtown Charlottesville and is about 1 mile from the University of Virginia. Built in late 2020, the property is about 80 percent leased out to tenants including McGuireWoods, Williams Mullen and Manchester Capital. John Pritzlaff of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord and developer, Charlotte-based Insite Properties. Robin Amato of REIII Commercial Properties represented the tenant.

October 13, 2021

Acquisitions Multifamily Southeast Tennessee

Embrey Disposes of 322-Unit Multifamily Community in Nashville

by Julia Sanders October 13, 2021

NASHVILLE, TENN. — Embrey Partners LLC, a San Antonio-based real estate investment and development firm, has disposed of Knox at MetroCenter, a 322-unit multifamily community in Nashville. Newmark brokered the sale. The sales price and buyer were not disclosed. Located at 101 Athens Way, Knox at Metrocenter is located about three miles north of downtown Nashville and overlooks Amulet Lake. The apartment property has one- and two-bedroom floorplans with units featuring 9-foot ceilings, wood-style flooring, kitchens with granite countertops and stainless steel appliances, bathrooms with a garden tub and a built-in computer desk and bookshelves. Community amenities include a clubhouse with games and a media center, fitness center, spin and yoga room, swimming pool, outdoor grilling and dining areas, dog park and a pet spa.

October 13, 2021

Leasing Activity Office Southeast Tennessee

Law Firm Signs 180,000 SF Headquarters Lease at Office Tower in Downtown Nashville

by Julia Sanders October 12, 2021

NASHVILLE, TENN. — Bass, Berry & Sims PLC, a law firm with offices in Tennessee and Washington, D.C., has signed a lease for a 180,000-square-foot space within Nashville Yards, an 18-acre mixed-use project in downtown Nashville. The office space will serve as the law firm’s new corporate headquarters. Bass, Berry & Sims will occupy space in the top eight floors in the Nashville Yards’ first multi-tenant office building, a 35-story tower with 650,000 square feet of office space and an additional 28,000 square feet of retail space. The tower’s building amenities will include a dog-friendly campus, dog park, ample parking, office valet, executive car services and an enhanced HVAC system. The tower will also serve as the new headquarters for Pinnacle Financial Partners, a financial services company. Located at 201 Platform South, the tower will be situated adjacent to the 591-room Grand Hyatt Nashville and Amazon’s two office towers at Nashville Yards. The developer, Southwest Value Partners, broke ground on the office tower in September. Bert Mathews and Shane Douglas of Colliers International represented Bass, Berry & Sims in the lease transaction.

October 12, 2021

Florida Loans Multifamily Southeast

JLL Secures $53M in Acquisition Financing for Apartment Community in Metro Tampa

by Julia Sanders October 12, 2021

LITHIA, FLA. — JLL Capital Markets has secured $53 million in acquisition financing for Circa at FishHawk Ranch, a 260-unit, garden-style multifamily community in Lithia, about 24.9 miles from Tampa. Elliott Throne, Brian Gaswirth, Jesse Wright and Kenny Cutler of JLL represented the New York-based borrower, GMF Capital, to secure the three-year, floating-rate loan through New York-based Sound Point Capital Management LP. Circa at FishHawk Ranch includes studio, one-, two- and three-bedroom units averaging 1,045 square feet. Built in 2015, the property spans four stories with the units featuring dishwashers, fireplaces and electronic thermostats. Community amenities include a fitness center, pool with cabanas, clubhouse, courtyard, pet play area, picnic area, business center, bike storage and conference rooms. The property also offers trash pickup services and onsite maintenance. Located at 13930 Spector Road, the property is close to several retailers such as Publix at Alafia Commons, Fishhawk Bagels, FishHawk Sporting Goods and Payaathai Cuisine. Circa at FishHawk Ranch offers connectivity near Fishhawk Boulevard, Lithia Pinecrest Road, Highway 301 and Interstate 75. Jared Frydman and Alejandro Ramirez led the GMF Capital team internally. Jordan Heller of South Point originated the loan.

October 12, 2021

Acquisitions Florida Industrial Southeast

Stan Johnson Co. Brokers $20.7M Sale of Industrial Property in Ocala, Florida

by Julia Sanders October 12, 2021

OCALA, FLA. — Stan Johnson Co. has brokered the $20.7 million sale of a single-tenant industrial property in Ocala. A Florida-based developer sold the 193,750-square-foot build-to-suit property to LBA Logistics, an Irvine, Calif.-based developer and institutional fund manager. Craig Tomlinson of Stan Johnson Co. represented the undisclosed seller. Signature Brands, a specialty and seasonal decorations maker, has a long-term lease at the property. The company’s brands include Betty Crocker, PAAS and Cake Mate. Built in August 2021, the high-bay distribution warehouse will service Signature Brands’ adjacent production facility. Located at 1921 Southwest 44th Ave., the property is about 1.5 miles from the College of Central Florida Ocala Campus and 36.9 miles from Gainesville.

October 12, 2021

Development Multifamily North Carolina Southeast

Joint Venture Breaks Ground on 261-Unit Multifamily Community in Charlotte’s South End

by Julia Sanders October 12, 2021

CHARLOTTE, N.C. — Developer RangeWater Real Estate and equity partner ParkProperty Capital have broken ground on The Raven at Tremont, a 261-unit multifamily community in Charlotte’s South End neighborhood. The first apartments are slated for completion by the spring of 2023. The Raven at Tremont will include one- and two-bedroom apartments. The property’s units will feature 9-foot ceilings, subway tiles, stainless steel appliances, granite countertops and Whirlpool washers and dryers. Community amenities will include a top-floor sky lounge, fitness center, pool, 10,000 square feet of open green space and a dog park. Located at 536 W. Tremont Ave., the property will be situated close to several retailers such as Callie’s Hot Little Biscuit, Zeppelin, Krispy Kreme, Yamazaru Sushi & Sake and Jeni’s Splendid Ice Creams. The multifamily development will also be situated about 1.9 miles from downtown Charlotte. Both RangeWater and ParkProperty Capital are based in Atlanta. RangeWater currently has 10 active projects in North Carolina totaling more than 2,500 units.

October 12, 2021

Acquisitions Florida Retail Southeast

PMAT Sells Grocery-Anchored Center in Metro Orlando for $12.7M

by Julia Sanders October 12, 2021

KISSIMMEE, FLA. — PMAT Cos. has sold Columbia Promenade, a 65,853-square-foot, Publix-anchored shopping center in Kissimmee, for $12.7 million. Danny Finkle, Brad Peterson, Eric Williams, Whitaker Leonhardt and Kim Flores of JLL represented the seller in the transaction. The buyer was not disclosed. Built in 2000, Columbia Promenade was 98.6 percent leased at the time of sale to tenants including H&R Block and MetroPCS. Situated on 9.7 acres at 1251 W. Columbia Ave., the property has frontage along John Young Parkway and is located about 24.1 miles from downtown Orlando and 11.9 miles from Walt Disney World Resort.

October 12, 2021

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