Southeast

MAB American Management Signs Planet Fitness, Petsense at $80M Shopping Center in Monroe, Georgia

by John Nelson September 11, 2020

MONROE, GA. — MAB American Management has signed retailers Planet Fitness and Petsense to leases at Monroe Pavilion, a 350,000-square-foot shopping center underway in Monroe. Retail Specialists is handling the leasing assignment of the $80 million development. Located in Walton County about 45 miles east of Atlanta, Monroe Pavilion’s tenant roster will include Publix, Ross Dress for Less, Ulta Beauty, Marshalls, Rack Room Shoes and Five Below. Planet Fitness is set to lease 16,120 square feet, and Petsense will occupy 6,000 square feet. MAB plans to deliver the shopping center in summer 2021.

September 11, 2020

Acquisitions Multifamily South Carolina Southeast Top Stories

Passco Acquires 330-Unit Multifamily Community in Coastal South Carolina for $78M

by Katie Sloan September 11, 2020

BLUFFTON, S.C. — Passco Cos. has acquired One Hampton Lake, a 330-unit multifamily community located seven miles outside Hilton Head Island in Bluffton, for $78 million. Southeastern Co. sold the property in an off-market transaction. One Hampton Lake was developed in two phases, with the first phase of construction completed in 2018 and the second phase completed earlier this year. The garden-style property offers one-, two- and three-bedroom units with quartz countertops, stainless steel appliances, in-unit washers and dryers, patios and balconies. Shared amenities at the community include a resort-style infinity pool and deck; kayak launch site and storage on Hampton Lake, located adjacent to the property; pet park and wash station; state-of-the-art fitness center; screened-in outdoor lounge with a fireplace; an outdoor kitchen; and grilling areas. Greystar will continue to manage the property under the new ownership. Chris Black and Caleb Marten of KeyBank Real Estate Capital arranged acquisition financing on behalf of Passco. Headquartered in Augusta, Georgia, Southeastern Co. offers development, property management, construction management and brokerage services for commercial real estate properties across the Southeast. Irvine, California-based Passco Cos. acquires, develops and manages multifamily and commercial real estate throughout the United States. The company currently has a …

September 11, 2020

Development Florida Mixed-Use Restaurant Retail Southeast

H&R REIT, Urban-X Open First Wave of Tenants at $452M River Landing Development in Miami

by John Nelson September 10, 2020

MIAMI — Toronto-based H&R REIT and Coral Gables, Fla.-based Urban-X Group have welcomed the first tenants to open at River Landing Shops & Residences in Miami, the first phase of the $452 million River Landing mixed-use development. The first tenants opening beginning this week include Hobby Lobby, Burlington, Publix, Five Below, Chase Bank and AT&T. Ross Dress for Less and Planet Fitness will open later this fall, and in the coming months T.J. Maxx, Old Navy, Ficelles Bakery, Chick-fil-A and others will open their doors. According to Urban-X, 70 percent of River Landing’s retail space is committed. The developer plans to announce new tenants coming to River Landing in the near future. Situated on 8.1 acres along the Miami River, River Landing will span 2.2 million square feet upon completion and feature a 135,000-square-foot office tower, 528 upscale apartments, a riverwalk, green spaces, boat docks and more retail and restaurant space. Lantower Residential, a subsidiary of H&R REIT, will operate and lease the apartments. The operator will welcome move-ins beginning next month. Urban-X is currently negotiating with several restaurants looking to open a waterfront location in 2021 and is implementing curbside pick-up spaces for River Landing’s retail tenants to meet customer …

September 10, 2020

District of Columbia Southeast

First-Time Unemployment Claims Reach 884,000, Surpassing Economists’ Expectations

by Alex Tostado September 10, 2020

WASHINGTON, D.C. — First-time unemployment claims for the week ending Sept. 5 reached 884,000, the U.S. Department of Labor reported Thursday morning. For the week ending Aug. 29, unemployment claims totaled 881,000. Economists surveyed by Dow Jones expected the weekly total to come in at 850,000, reflecting a downward trend from the previous week. The two previous weeks mark the first time since mid-March that unemployment claims have been fewer than 1 million in back-to-back weeks. Continuing claims — for which data is a week behind — ticked up to 13.8 million for the week ending Sept. 3, 93,000 higher than the week ending Aug. 29.

September 10, 2020

Development Florida Multifamily Southeast Student Housing

Landmark, W5 Group Break Ground on 602-Bed Student Housing Community Near University of Central Florida

by Alex Tostado September 10, 2020

ORLANDO, FLA. — A partnership between Landmark Properties and W5 Group LLC has broken ground on The Retreat East, a 602-bed student housing community that will serve student at the University of Central Florida (UCF) in Orlando. The cottage-style community will comprise 138 units that are expected to open in August 2021. Communal amenities will include a pool, poolside jumbotron, golf simulator, clubhouse, study lounge and a fitness center. Athens, Ga.-based Landmark will manage the property upon completion. The Retreat at Orlando will be situated at 12151 E. Colonial Drive, two miles south of UCF’s campus and 13 miles east of downtown Orlando. Miami Beach, Fla.-based W5 Group entered into the partnership through its new student housing investment initiative.

September 10, 2020

Development Georgia Multifamily Southeast

Cushman & Wakefield Arranges $46.9M Construction Financing for Multifamily Complex in Metro Atlanta

by Alex Tostado September 10, 2020

DOUGLASVILLE, GA. — Cushman & Wakefield has arranged $46.9 million in construction financing for Sweetwater Vista, a planned 300-unit multifamily complex in Douglasville. The borrower, Vista Realty Partners, is developing the property to include nine three- and four-story buildings. The asset will be situated on Riverside Parkway, 15 miles west of downtown Atlanta. Communal amenities will include a fitness center, pool, clubhouse, grilling area and a resident lounge. Michael Ryan, Brian Linnihan, Richard Henry and Blake Cohen of Cushman & Wakefield arranged preferred equity through Nationwide Insurance Co. and senior financing through Synovus Bank. Flournoy Construction is the general contractor, and Niles Bolton Associates is the architect. Vista Realty Partners expects to open the community in late 2021.

September 10, 2020

District of Columbia Leasing Activity Office Southeast

CommonGrounds Workplace Opens Two New Coworking Spaces in D.C. Totaling 73,692 SF

by Alex Tostado September 10, 2020

WASHINGTON, D.C. — CommonGrounds Workplace has opened two new coworking spaces in Washington, D.C., totaling 73,692 square feet. The first office location spans 29,509 square feet and occupies the entire second floor of 1500 K St. NW. The office building is one block north of The White House and less than one block from McPherson Station. The other location spans 44,183 square feet within a newly built, 11-story office building at 99 M St. E. CommonGrounds occupies the entirety of the eighth and ninth floors of the asset, which is located in D.C.’s Navy Yards district. The property is located four miles southeast of downtown D.C. and less than one mile from Nationals Park, home of MLB’s Washington Nationals. BBGM was the architect for both locations.

September 10, 2020

Development Georgia Industrial Southeast

Seefried Delivers Four-Story Distribution Center for Amazon in Metro Atlanta

by Alex Tostado September 9, 2020

STONE MOUNTAIN, GA. — Atlanta-based Seefried Industrial Properties has delivered a 640,000-square-foot industrial facility in Stone Mountain. Developed on a build-to-suit basis for Amazon, the four-story distribution center stands 70 feet tall and features Amazon Robotics technology. The property is situated at 2255 W. Park Place Blvd., 19 miles northeast of downtown Atlanta. The Seattle-based e-commerce giant expects to house 1,000 employees at the site. The Conlan Co. was the general contractor, Eberly & Associates was the civil engineer and Macgregor Associates was the architect. Seefried has now built more than 35 industrial facilities for Amazon, including Georgia facilities in Macon and near Augusta.

September 9, 2020

Development Multifamily Southeast Virginia

EYA Breaks Ground on Mixed-Use Project in Northern Virginia

by Alex Tostado September 9, 2020

RESTON, VA. — EYA Development LLC has broken ground on The Townhomes at Reston Station in Reston. The project will comprise 300 apartment units, 20,000 square feet of retail space and 115 townhomes available for purchase. The development spans nine acres and will be delivered in two phases, with Phase I scheduled to deliver in early 2021. The site is located at 1860 Michael Faraday Drive, two blocks from the Wiehle-Reston East Metro Station on the Silver Line and 21 miles west of downtown Washington, D.C. Scott Kasprowicz sold the land to the Bethesda, Md.-based developer.

September 9, 2020

Development Kentucky Retail Southeast

Clermont Distilling to Open New Bourbon Distillery Near Louisville

by Alex Tostado September 9, 2020

SHEPHERDSVILLE, KY. — Clermont Distillery Inc. will open a new bourbon distillery in Shepherdsville. The property will span 55 acres on both sides of Interstate 65, though the distillery will only occupy about 15 acres. The developers, cousins Lee Wilburn and William “Bill” LaRue Weller, are exploring joint venture opportunities to develop hotels and other attractions on the remaining 40 acres. The developers expect to break ground in spring 2021. Kentucky Business Investment (KBI) and Kentucky Enterprise Initiative Act (KEIA) approved tax incentives for the project, which is expected to house 22 full-time employees earning an average wage of $56 per hour. The site is situated near the Clermont/Bardstown exit off I-65, 25 miles south of downtown Louisville. The project will also feature a gift shop and tasting room.

September 9, 2020

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