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Morocco Shrine
DevelopmentFloridaMixed-UseSoutheast

Klotz, KABR Plan $200M Redevelopment of Morocco Shrine Center in Jacksonville

by Julia Sanders

JACKSONVILLE, FLA. — Klotz Group of Cos. and KABR Group plan to redevelop Morocco Shrine Center, a former convention center in Jacksonville. The project, which is expected to cost more than $200 million, will be named The Village at Town Center. The 100,000-square-foot main temple building will be redeveloped to include 1,025 units that will be a mix of market-rate apartments, student housing and hotel rooms. Additionally, the property will include the new development of shops, restaurants and offices totaling 115,000 square feet, as well as public green space. Located at 3800 St. Johns Bluff Road S, the property is situated adjacent to the University of North Florida and St. Johns Town Center. Klotz and KABR Group are set to close on the property in early November, with construction of Phase I slated to begin in 2022. The construction timeline is predicted to take about five to seven years for completion.

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AcquisitionsFloridaLife SciencesOfficeSoutheast

Cousins Properties Acquires Heights Union Office Property in Downtown Tampa for $144.8M

by Julia Sanders

TAMPA, FLA. — Atlanta-based Cousins Properties has acquired Heights Union, a 294,000-square-foot office property in downtown Tampa, for $144.8 million. Atlanta-based TPA Group and Heights master developer SoHo Capital were the sellers, according to the Tampa Business Journal. Built in 2020, Heights Union features two six-story buildings with parking provided. The office property is currently 93.4 percent leased with life sciences users representing 66 percent of the rent roll. Pfizer leases 106,000 square feet for a Global Capability Hub, and Axogen leases 75,000 square feet for its second headquarters and lab space. Additionally, White & Case leases 40,000 square feet for a mission critical global operations center. The office property is located within The Heights neighborhood, which is a live-work-play district located near the 2.6-mile Tampa Riverwalk that runs alongside the Hillsborough River. The district is also anchored by Armature Works, an adaptive reuse project of the former Tampa streetcar facility that includes 73,000 square feet of mixed-use space and over 20 restaurants and bars.

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Locust Grove
GeorgiaIndustrialLeasing ActivitySoutheast

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

by Julia Sanders

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.

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Sentral West Midtown
DevelopmentGeorgiaMultifamilySoutheast

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

by Julia Sanders

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 …

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South Park Plaza
AcquisitionsOfficeSouth CarolinaSoutheast

CBRE Arranges $31.3M Sale of Office Campus in Charleston

by Julia Sanders

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.

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Lucid Motors
FloridaLeasing ActivityRetailSoutheast

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

by Julia Sanders

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 …

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Authentix Cartersville
DevelopmentGeorgiaMultifamilySoutheast

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

by Julia Sanders

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.

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Thomson Plaza
AcquisitionsGeorgiaRetailSoutheast

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

by Julia Sanders

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.

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Kroger HQ
AcquisitionsOfficeRetailSoutheastVirginia

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

by Julia Sanders

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.

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Randle Hill
Affordable HousingDevelopmentDistrict of ColumbiaMultifamilySoutheast

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

by Julia Sanders

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 …

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