Southeast

CJ Logistics America Signs 1 MSF Lease at Distribution Facility in Locust Grove, Georgia

by Julia Sanders October 6, 2021

LOCUST GROVE, GA. — CJ Logistics America, a Des Plaines, Ill.-based supply chain company, has signed a 1 million-square-foot lease at Locust Grove Distribution Center in Locust Grove, about 37 miles south of downtown Atlanta. CJ Logistics signed a full-building, 10-year lease at 700 Price Drive with the landlord, Manulife Investment Management. Part of a 311-acre business park, Locust Grove Distribution Center is a recently constructed, Class A industrial facility that features dedicated ingress and egress, 36-foot clear heights, trailer parking and 146 dock doors. Tyler Fann and Adam Richards of Reliant Real Estate Partners oversee industrial leasing at Locust Grove Distribution Center. Lynn Reich, Suzanne Serino, Sean Boswell and Scott Plomgren of Colliers International represented CJ Logistics in the lease transaction.

October 6, 2021

Development Georgia Multifamily Southeast

Sentral Completes 409-Unit Multifamily Community at Star Metals Development in Atlanta

by Julia Sanders October 6, 2021

ATLANTA — Sentral has completed Sentral West Midtown at Star Metals in Atlanta’s West Midtown neighborhood. Located at 1050 Howell Mill Road, Sentral West Midtown at Star Metals is a 409-unit community that offers a flexible living model in which residents and guests can live at the property for any period of time from one month to several years. Paces Properties and Allen Morris Co. are co-developers of Star Metals. The property offers studio, one- and two-bedroom floor plans that come either unfurnished or furnished. Community amenities include a curated year-round events calendar, rooftop pool and grilling area, fitness center, dog spa, networking café and various indoor and outdoor coworking spaces. Sentral West Midtown at Star Metals features food and beverage offerings including Prevail Coffee; Savi Provisions, a specialty grocer; Wagamama, a UK- based pan-Asian restaurant chain; and Sweetgreen, the fast-casual salad chain. Starting in 2022, qualifying residents at Sentral West Midtown will be able to use Sentral’s homesharing service, which will allow residents to rent out their apartments with short-term stays with a two-night minimum. Sentral will handle all homesharing logistics, including housekeeping, photography, insurance and 24-hour service. The homesharing program will enable residents to offset 25 percent or …

October 6, 2021

Acquisitions Office South Carolina Southeast

CBRE Arranges $31.3M Sale of Office Campus in Charleston

by Julia Sanders October 5, 2021

CHARLESTON, S.C. — CBRE has arranged the sale of South Park Plaza, a three-building office park in Charleston. Boyd Watterson purchased the property from an entity doing business as JEMA II LLC for $31.3 million. Charles Carmody, Patrick Gildea, Matt Smith, Grayson Hawkins and Ryan Carmody of CBRE represented the seller in the transaction. Located at 1-3 South Park Circle, South Park Plaza is a 139,060-square-foot property situated close to Interstate 526 and Citadel Mall, a shopping center anchored by Belk, Dillard’s, Target, Bath & Body Works and Loft. Since 2018, South Park Plaza has been 90.6 percent leased to tenants including The Medical University of South Carolina Hospital Authority.

October 5, 2021

Florida Leasing Activity Retail Southeast

Three Retailers Sign Leases at $4B Miami Worldcenter Development in Downtown Miami

by Julia Sanders October 5, 2021

MIAMI — Three retailers have signed leases to join the tenant lineup at Miami Worldcenter, a $4 billion, 27-acre mixed-use development underway in downtown Miami. The three retailers are Sephora, a beauty and make-up retailer; Lucid Motors, an electric car company; and Bowlero, an entertainment retailer that offers bowling, interactive arcades and dining. The retailers, which are taking a combined 60,000 square feet, will open at Miami Worldcenter in 2022. CIM Group and Miami-based The Comras Co. are leading retail leasing on behalf of Miami Worldcenter Associates, the master developer of Miami Worldcenter. Sephora will occupy more than 6,000 square feet at the World Square Plaza, a 20,000-square-foot public plaza and park that will run along Miami Worldcenter’s 7th Street Promenade. Lucid Motors plans on taking about 23,000 square feet and developing a multi-use facility. The retailer will have a Lucid Studio, which will allow customers to experience the brand and its lineup of luxury electric vehicles. The location will also serve as a service facility and a delivery center. The facility will be located along 1st Avenue and 10th Street. Bowlero will occupy more than 31,000 square feet within Miami Worldcenter’s 78,000-square-foot “Jewel Box” retail building. The venue will …

October 5, 2021

Development Georgia Multifamily Southeast

McShane Construction Breaks Ground on 240-Unit Apartment Development in Metro Atlanta

by Julia Sanders October 5, 2021

CARTERSVILLE, GA. — McShane Construction Co. has broken ground on Authentix Cartersville, a 240-unit multifamily development located in the northwest Atlanta suburb of Cartersville. McShane is building the property on behalf of the developer, Continental Properties. Authentix Cartersville is McShane’s 23rd project for Continental. Completion is slated for February 2023. Designed by Excel Engineering, Authentix Carterville will feature two-story, garden-style buildings with townhome-style studio, one-, two- and three-bedroom units and private, ground-floor entrances. Each unit will include modern kitchen appliances, washer/dryers and natural light. Community amenities will include a clubhouse with a coffee bar, 24-hour fitness center, swimming pool, outdoor barbeque area and a dog park with a pet spa. Situated on a 25-acre site at 5000 Canton Highway, Authentix Cartersville will be located adjacent to Georgia Highlands Cartersville Campus, about 25.5 miles from Lake Allatoona and 45.4 miles from downtown Atlanta.

October 5, 2021

Acquisitions Georgia Retail Southeast

Stan Johnson Co. Brokers $3.3M Sale of Thomson Plaza Shopping Center Near Augusta, Georgia

by Julia Sanders October 5, 2021

THOMSON, GA. — Stan Johnson Co. has brokered the sale of Thomson Plaza, a 96,495-square-foot retail center located at 308-324 W. Hill St. in Thomson, about 33 miles west of Augusta. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the seller, an entity doing business as Thomson Plaza LLLP, which had owned the grocery-anchored property for over 49 years. A private 1031 exchange buyer from Statham, Ga., purchased the shopping center for approximately $3.3 million. Thomson Plaza is a KJ’s Market-anchored community center situated on more than 10.5 acres. The retail center was 98 percent leased at the time of sale to 13 tenants including Bealls Outlet, Family Dollar, Aaron’s and Subway. Built in 1972, the property had renovations done in 1990.

October 5, 2021

Acquisitions Office Retail Southeast Virginia

Kroger Sells Former Regional Headquarters Office in Roanoke for $3.1M

by Julia Sanders October 5, 2021

ROANOKE, VA. — Kroger LP I has sold its former regional headquarters located at 3631 Peters Creek Road in Roanoke. Fenton Childers and Austin Newman of S.L. Nusbaum Realty Co. represented Kroger in the transaction. The buyer, Roanoke-based The Branch Group Inc., purchased the property for $3.1 million. Steve Zegarski and Jason Fountain of Waldvogel Commercial Properties Inc. represented the buyer. Built in 1983, the 58,690-square-foot, two-story office building sits on 9.5 acres and functioned as Krogers regional headquarters for the Mid-Atlantic division. Kroger occupied the property until 2020.

October 5, 2021

Affordable Housing Development District of Columbia Multifamily Southeast

Enterprise Community Development Reopens $51M Affordable Housing Community in D.C.

by Julia Sanders October 4, 2021

WASHINGTON, D.C. — Enterprise Community Development (ECD) has reopened Randle Hill Apartments, a $51 million affordable housing property in Washington, D.C.’s Congress Heights neighborhood that was recently renovated. The property includes 195 apartments, including 20 set aside for formerly homeless individuals and families. Located at 3300 6th St. SE, Randle Hill is a nine-building complex with one-, two- and three-bedroom units. The renovations on the property include updated kitchens and bathrooms, new HVAC units, enhanced light fixtures and energy-efficient features. In addition, the property includes onsite resident services such as workforce development, case management, educational and financial literacy programs. ECD made sure no residents of Randle Hill were displaced during renovations. District of Columbia Housing Finance Agency provided $25 million in bonds of construction financing and Bank of America provided a $26.5 million loan. Additional financing included $17.3 million from DCHFA’s HUD Risk Share program, $13 million from District’s Housing Production Trust Fund program, a $650,000 predevelopment loan from Neighborworks Capital and $15.3 million in low-income housing tax credit equity from Enterprise Housing Credit Investments LLC to support the development on behalf of Bank of America. Community Housing Capital provided an initial acquisition loan of nearly $17.8 million. Associates Architects …

October 4, 2021

Development Maryland Office Southeast

Cushman & Wakefield Announces $10M Redevelopment Project for Office Property in Bethesda

by Julia Sanders October 4, 2021

BETHESDA, MD. — Cushman & Wakefield has announced an over $10 million capital improvement program for 4800 Hampden Lane, a Class A, 185,000-square-foot office building located in Bethesda. New York-based Anne and Bernard Spitzer Charitable Trust owns the office property. 4800 Hampden Lane is a 12-story building that features terraces exclusive to tenants, six elevators, 24/7 security, onsite garage parking and onsite property management. The property is located close to the Capital Crescent Trail, an off-road trail that runs from Georgetown in Washington, D.C. to Bethesda. The property is currently 95 percent leased to tenants including Boston Consulting Group, Paley Rothman, Salamandra, EYA and Declaration Partners. The redevelopment of 4800 Hampden Lane will include the addition of a new conference center; new fitness center, including private/dedicated workout kiosks and separate locker rooms with towel service; a new bike storage facility; upgraded lobby and enhancements to the façade. Renovations at the property will begin within the next two months and are slated to be complete by fall 2022. Michael Katcher and Katie Datin of Cushman & Wakefield are the exclusive leasing brokers for the property.

October 4, 2021

Acquisitions Georgia Retail Southeast

JLL Arranges $16 Million Sale of Kroger-Anchored Retail Center in Metro Atlanta

by Julia Sanders October 4, 2021

ATLANTA — JLL Capital Markets has arranged the $16 million sale of Main Street South Fulton, a 129,449-square-foot, Kroger-anchored shopping center in the Atlanta neighborhood of South Fulton. Main Street South Fulton is fully leased to retailers including Dollar Tree, Rainbow USA, Pizza Hut and Subway. Located at 6055 Old National Highway, the shopping center is approximately three miles south of Hartsfield-Jackson Atlanta International Airport. Brad Buchanan, Jim Hamilton and Andrew Kahn of JLL represented the seller, Atlanta-based M&P Shopping Centers, in the transaction. Benjamin Bruner of the Bruner Group represented the buyer, New York City-based Irgang Group Inc.

October 4, 2021

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