Southeast

Roam to Open Coworking Space at Town at Trilith Development in Fayetteville, Georgia

by Julia Sanders July 16, 2021

FAYETTEVILLE, GA. — Roam, a coworking operator, will open a new location in September inside the Two-Ten office building within Town at Trillith in Fayetteville. The mixed-use project is located adjacent to Trilith Studios, a 1,000-acre movie studio formerly known as Pinewood Atlanta Studios that has produced movies such as Avengers: Endgame and Ant-Man. The Town at Trilith space will be Roam’s seventh and newest location, and it will include offices and desks for rent, as well as meeting spaces designed to accommodate varying group sizes. The space will also include a boardroom with seating for up to 16 individuals, four large training rooms that can accommodate groups of up to 60, a screening room and a podcast room. Roam offers a variety of membership options, including two and three-month terms, flexible month-to-month agreements and daily passes. Tenants at Town at Trillith that have already opened include Amici Italian Café, The Piedmont Wellness Center, Honeysuckle Gelato, Green p.s., Amici Café, Barleygarden Kitchen and Craft Bar and Hop City. Trilith has announced other retailers including Leyland Blue, Trilith Food Hall, Native Collective, The Skin Society, Sugarcoat, Premiere Hair Studio, Woodstone Bakery & Café, Braise, Archer Paper Goods, The Funky Shack and …

July 16, 2021

Acquisitions Development Industrial North Carolina Southeast

Silverman Group Buys 198 Acres, Plans Spec Industrial Park in Metro Charlotte

by Julia Sanders July 16, 2021

CHINA GROVE, N.C. — The Silverman Group has purchased approximately 198 acres located in China Grove for a speculative industrial park known as 85 North Logistics Center. The land seller was not disclosed, but the sales price was approximately $10.4 million. The project is slated for delivery in the third quarter of 2022. The project has the potential for upwards of 1.8 million square feet of Class A industrial space across two buildings. Silverman Group could potentially deliver one building spanning 1.5 million square feet as well as a second 414,000-square-foot building. The project could include trailer and auto parking, as well as ceiling heights of 40 feet and greater should it be desired by a prospective tenant. The Silverman Group is a privately owned and operated private equity and real estate development firm based in Basking Ridge, N. J. Avison Young has been chosen to lease the property.

July 16, 2021

Development Georgia Industrial Southeast

Robinson Weeks Breaks Ground on 1.3 MSF Spec Industrial Development Near Atlanta

by Julia Sanders July 16, 2021

FOREST PARK, GA. — Robinson Weeks Partners has broken ground on Gillem 1100 and Gillem 1200, a pair of Class A speculative distribution centers in metro Atlanta totaling nearly 1.3 million square feet. The facilities sit within Gillem Logistics Center in Forest Park. Construction on Gillem 1100 is scheduled to finish in the beginning of 2022, while Gillem 1200 is slated for completion in the second quarter of 2022. The 909,509-square-foot Gillem 1100 will be a cross-dock facility featuring 40-foot clear heights, 300 auto parking spaces, 171 dock high doors and 318 trailer storage spaces. The 377,520-square-foot Gillem 1200 will feature 32-foot clear heights, 267 auto parking spaces, 70 dock high doors and 86 trailer storage spaces. Formerly the Fort Gillem Army Base, Gillem Logistics Center is a 1,168-acre master-planned industrial development featuring more than 8 million square feet of industrial space and 500,000 square feet of mixed-use facilities. The logistics center is approximately 11 miles from Hartsfield-Jackson Atlanta International Airport and houses tenants including Kroger, Cummins, HD Supply, XPO, Kuehne + Nagel and Kalera. Robinson Weeks Partners is an Atlanta-based development and acquisitions firm. The firm was selected to be the master developer for the project in 2007 and …

July 16, 2021

Acquisitions Development Florida Georgia Multifamily Southeast

Kaplan Buys Three Land Sites for a Total of $17.3M, Plans to Develop Build-to-Rent Townhomes

by Julia Sanders July 16, 2021

MIAMI AND ATLANTA — Kaplan Residential, a multifamily developer with offices in Miami and Atlanta, has acquired three land sites in Georgia and Florida for the development of three build-to-rent townhome communities. The firm acquired two sites in metro Atlanta totaling more than $11 million and a 30-acre parcel in Venice, Fla., for nearly $6 million for a total of approximately $17.3 million. The first metro Atlanta acquisition is located at 3960 Redan Road in Stone Mountain, about 15 miles east of downtown Atlanta. Paideia School sold the land to Kaplan for $6.5 million. Shea Meddin of Cushman & Wakefield facilitated the sale. Brock Built Homes will serve as Kaplan’s co-general partner and general contractor for the new development. The other metro Atlanta property is located at 9570 Dallas Acworth Highway in Dallas, 37 miles northwest of downtown Atlanta. An entity doing business as AHA-Paulding LLC sold the land to Kaplan for $4.8 million. Patrick Taylor of ACI Capital Partners Inc. arranged the sale. New Wave Loans provided an undisclosed amount of financing to Kaplan. Lastly, the Southwest Florida site is located at 2201 Knights Trail Road in Venice. Rowco Development Co. LLC sold the land for approximately $6 million. …

July 16, 2021

Acquisitions Alabama Multifamily Southeast

OG Capital Purchases Waterfront Multifamily Community Near Birmingham for $9.4M

by Julia Sanders July 16, 2021

RIVERSIDE, ALA. — An affiliate of OG Capital LLC, a Birmingham-based real estate investment firm, has purchased Riverbend Apartments, a 144-unit apartment community in Riverside. Built in 1980, the property sits about 40 miles east of Birmingham and overlooks the Coosa River and its Lake Logan Martin Reservoir. A Delaware-based entity doing business as OG Riverbend LLC purchased the property from a firm doing business as Riverbend Apartments Ltd. for $9.4 million. Located at 417 Riverbend Road, the community is 3.9 miles from Honda Manufacturing of Alabama, a $2 billion, 4.2 million-square-foot plant that directly employs nearly 6,000 workers. Riverbend, which will soon be rebranded as RiverHouse, includes one-, two- and three-bedroom apartment homes, a community pool and clubhouse. Additionally, the property has more than 4,000 feet of waterfront and offers residents a private boat launch, swimming and water sports. OG Capital plans to renovate the entire property and amenity package by improving and expanding the existing fitness center and adding new community docks, fire pits and grill stations. Arlington Properties Inc. will manage the community.

July 16, 2021

Acquisitions Florida Multifamily Southeast

Estate Cos. Sells Soleste Bay Village Apartments in Palmetto Bay, Florida for $58.3M

by Julia Sanders July 15, 2021

PALMETTO BAY, FLA. — The Estate Cos. has sold Soleste Bay Village, a five-story residential community located at 18301 S. Dixie Highway in Palmetto Bay. Dallas-based Westdale Real Estate Investment and Management acquired the 213-unit property for approximately $58.3 million. Built in 2020, Soleste Bay Village was approximately 98 percent occupied at the time of sale. The community includes a mix of studios, one-, two- and three-bedroom units ranging in size from 600 to 1,100 square feet. Units feature modern kitchens, custom cabinetry, quartz countertops, designer lighting and walk-in closets. Community amenities include a resort-style pool with a sundeck and private cabanas, a fitness center with spinning and yoga rooms, spa, children’s playground and dog park. Hampton Bebee and Avery Klann of Newmark represented the seller. Neyda Bravo and Luis Gonzalez of Bravo & Partners Realty represented the buyer. The Estate Cos. is a Miami-based developer, owner and operator of residential communities in South Florida. Soleste Bay Village is the third development the firm has sold to Westdale this year. Recent transactions also include Soleste Alameda for $83 million and Soleste Twenty2 for $97 million, both in West Miami. Led by Robert Suris and Jeffrey Ardizon, Estate Cos. is also …

July 15, 2021

Acquisitions Georgia Retail Southeast

North American Properties Acquires 230,000 SF Avenue East Cobb Retail Center in Metro Atlanta

by Julia Sanders July 15, 2021

MARIETTA, GA. — North American Properties (NAP) has acquired The Avenue East Cobb, a 230,000-square-foot retail development in Marietta. The seller and sales price were not disclosed. The property’s tenant roster features national brands such as lululemon atheltica, Sephora, Pottery Barn, Simply Mac, Bed Bath & Beyond and Williams Sonoma, as well as regional concepts such as High Country Outfitters, Stockyard Burgers & Bones and Tin Lizzy’s Cantina. NAP’s repositioning plan calls for the addition of a central event lawn surrounded by restaurants with patios. Built in 1999, Avenue East Cobb was the first to be developed as part of Cousins Properties’ portfolio of lifestyle centers branded “Avenue.” NAP is a real estate operator and development company based in Cincinnati. Since announcing its value-add acquisition strategy in December 2019, NAP’s Atlanta office has executed redevelopment and repositioning plans at Colony Square in Midtown Atlanta; Newport on the Levee in Newport, Ky.; and Birkdale Village in Huntersville, N.C.

July 15, 2021

Development Multifamily South Carolina Southeast Student Housing

CRG, Landmark Break Ground on 678-Bed Student Housing Tower Near USC in Columbia

by Julia Sanders July 15, 2021

COLUMBIA, S.C. — CRG and Landmark Properties have broken ground on The Standard at Columbia, a 17-story student housing tower in Columbia. The property will be located on the corner of Washington and Assembly streets close to the University of South Carolina (USC). Construction is slated to be complete in fall 2023. The Standard will include 247 fully furnished units totaling 678 beds. The student housing development will offer a mix of studio, one-, two-, three-, four- and five-bedroom apartments across nearly 443,000 square feet. Community amenities will include a rooftop pool, hot tub, grilling stations, jumbotron TV, fitness and wellness center, golf simulator, game-day lounge and group and private study lounge space. Preleasing will start in the fall of 2022. Citizens Bank provided construction financing for the project. Lamar Johnson Collaborative designed the project, while CRG’s parent company, Clayco, will serve as the general contractor. CRG is a privately held real estate development firm based in St. Louis.

July 15, 2021

Georgia Loans Multifamily Southeast

JLL Secures Acquisition Financing for 295-Unit Aventon Park West Apartments in Savannah

by Julia Sanders July 15, 2021

SAVANNAH, GA. — JLL Capital Markets has secured an undisclosed amount of acquisition financing for Aventon Park West, a newly constructed, 295-unit multifamily community in Savannah. Marc Schillinger, Jonah Aelyon and Eric Boucher of JLL represented the borrower, an undisclosed private individual, to secure the seven-year, fixed-rate Freddie Mac loan. Built in 2020, Aventon Park West includes one-, two- and three-bedroom units with an average unit size of 962 square feet. The garden-style apartments feature kitchen islands, keyless entry with mobile activation, smart thermostats, washers and dryers, walk-in showers, soaking tubs, walk-in closets, USB outlets, private balconies and patios and a choice of two highspeed internet/video providers. Community amenities include a saltwater pool with private cabanas, covered terrace, outdoor kitchen and pool bar with grilling stations, outdoor lounge with fire pit, hammock garden and gaming lawn, controlled access, electric vehicle charging stations, fitness center, yoga studio, coworking spaces, club lounge with game room with coffee bar, pet spa and two dog parks, children’s playground and walking trails. Located at 2080 Benton Blvd., the property offers access to Interstate 95 and is 13 miles from downtown Savannah. The property has nearby employers such as Gulfstream Aerospace Corp., Georgia-Pacific, St. Joseph’s/Candler health …

July 15, 2021

Acquisitions Florida Retail Southeast

SRS Brokers $4.8M Sale of Winn-Dixie-Anchored Property in High Springs, Florida

by Julia Sanders July 15, 2021

HIGH SPRINGS, FLA. — SRS Real Estate Partners has brokered the $4.8 million sale of a single-tenant grocery property located at 20303 N US Highway 441 in High Springs, a suburb of Gainesville. The tenant, Winn-Dixie, has more than 27 years of lease remaining at the location. The Winn-Dixie is part of a 57,850-square-foot shopping center. Built in 1985 on 5.2 acres, the tenant roster includes Bealls Outlet, Advance Auto Parts and Cricket Wireless. The seller, an entity doing business as H&R High Springs LLC, sold the property to Kamin Realty LLC. Kevin Yaryan, Kyle Stonis and Pierce Mayson of SRS represented the seller in the transaction. The buyer was self-represented.

July 15, 2021

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