Southeast

JLL Arranges Sale of 636-Unit Self-Storage Property in Miami

by Alex Tostado May 11, 2020

MIAMI — JLL has arranged the sale of 21st Century Self Storage, a 636-unit facility in Miami. The 37,242-square-foot asset features climate-controlled units and 26 parking spaces. The building was originally constructed in the 1950s and was converted to self-storage in 2003. The building is located at 200 NW 79th St., eight miles north of downtown Miami. Steve Mellon, Brian Somoza and Manny de Zárraga of JLL represented the seller, 21st Century Self Storage, in the transaction. Amsdell Cos. and Compass Self Storage purchased the facility for an undisclosed price.

May 11, 2020

Acquisitions Multifamily North Carolina Southeast

Newmark Knight Frank Negotiates Sale of 288-Unit Multifamily Community in Durham

by Alex Tostado May 11, 2020

DURHAM, N.C. — Newmark Knight Frank (NKF) has negotiated the sale of Southpoint Crossing, a 288-unit multifamily community in Durham. The property offers one-, two- and three-bedroom floor plans ranging from 635 to 1,301 square feet. The asset was 96 percent occupied at the time of sale. Communal amenities include a 24-hour fitness center, pool with lounge, a 24-hour business center, grilling area with picnic tables, playground, dog park and Amazon Hub package lockers. The seller, New York City-based Duck Pond Realty, upgraded several unit interiors with new appliances, resurfaced counters and faux-wood flooring in kitchens and bathrooms. The community is located at 1800 Southpoint Crossing Drive, seven miles south of downtown Durham. Toronto-based Starlight Investments purchased the property for an undisclosed amount. Sean Wood, John Heimburger, Dean Smith, Alex Okulski, John Munroe and Jason Kon of NKF represented the seller in the transaction.

May 11, 2020

Acquisitions Florida Multifamily Seniors Housing Southeast

Cushman & Wakefield Brokers $22.2M Sale of Seniors Housing Community in Stuart, Florida

by Alex Tostado May 11, 2020

STUART, FLA. — Cushman & Wakefield Senior Housing Capital Markets has brokered the $22.2 million sale of The Pointe at Ocean Boulevard, an independent living community in Stuart. Sentio Investments sold the seniors housing asset to an affiliate of Waypoint Real Estate Investments. Arrow Senior Living has been retained to operate the community. The Pointe at Ocean Boulevard features 150 units and is located at 2750 SE Ocean Blvd., a mile west of the Atlantic Ocean and three miles east of downtown Stuart. The property was built in 1986 and was recently renovated. Richard Swartz, Jay Wagner, Tim Hosmer, Chris Remeika and Jack Griffin of Cushman & Wakefield brokered the sale.

May 11, 2020

Development Florida Retail Southeast

Tailwinds Development to Build Publix Grocery Store Near Orlando

by Alex Tostado May 11, 2020

DAVENPORT, FLA. — Tailwinds Development LLC will develop a Publix-anchored shopping center within Champions Crossing in Davenport. The grocery store is slated to open in summer 2021. The new Publix will be located at 1200 Champions Drive, 30 miles southwest of downtown Orlando. Ali Mushtaq of SVN Florida represented the property owner, Savi Tri-County LLC, in the lease negotiations. According to Mushtaq, there is 7,121 square feet available for in-line leasing and 5,415 square feet available at an outparcel at the shopping center development. Champions Crossing is a master-planned development, which upon completion will feature retail, restaurant and office space. The 110-room WoodSpring Suites hotel opened in 2019, as well as the 326-unit Champions Vue Apartments.

May 11, 2020

Acquisitions Kentucky Retail Southeast Tennessee

Hanley Investment Group Arranges Sales of Two Retail Outparcels in Tennessee, Kentucky Totaling $6.9M

by Alex Tostado May 11, 2020

KNOXVILLE, TENN. AND SOMERSET, KY. — Hanley Investment Group has arranged the sale of two multi-tenant retail outparcels situated on Walmart Supercenter-anchored properties in Tennessee and Kentucky. An undisclosed private investor based in Kentucky acquired both properties in all-cash deals. The first sale was of a two-tenant building leased to Aspen Dental and Visionworks in Knoxville. The outparcel was built in 2015 and spans 7,500 square feet. The property is situated at 2960 and 2964 Miller Place Way, seven miles north of downtown Knoxville. The undisclosed seller, a private investor based in New York City, sold the asset for $4.3 million. Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller in the transaction. The other property is a three-tenant, 6,847-square-foot property located at 2007 S. U.S. Highway 27 in Somerset. The property was built in 2015 and is triple-net-leased to Visionworks, Kay Jewelers and GNC. Indianapolis-based Thompson Thrift Retail sold the property for $2.6 million. The outparcel is situated three miles south of downtown Somerset. Dylan Mallory of Hanley represented the seller in the transaction.

May 11, 2020

Georgia Leasing Activity Restaurant Retail Southeast Video Webinar

Webinar: Atlanta Retail Reboot

by Sarah Daniels May 11, 2020

On May 8, Southeast Real Estate Business and Shopping Center Business magazines hosted “Atlanta Retail Reboot,” a webinar where experts from the Atlanta investment, retail and brokerage communities were invited to discuss what they are seeing in the retail market, the impact of the coronavirus on existing properties and on new developments, as well as what retail and restaurants will look like in the near and long term. Many retailers have been closed for weeks due to COVID-19, and the retail industry is facing a tough comeback. Listen to learn what leaders in the metro Atlanta retail real estate community are expecting for the rest of 2020. Shopping Center Business editor Randall Shearin moderates a candid discussion on what to look forward to in terms of recovery for the Atlanta’s retail owners and tenants. Webinar sponsor: Retail Specialists, a full-service, retail-centric real estate company with a focus on the Southeast and beyond. Their services include leasing and brokerage, retailer representation, property management and development. Panelists: Emil Gullia, Retail Specialists Kyle Stonis, SRS Tom McCarty, Jim ‘N Nick’s Jeff Garrison, S.J. Collins Enterprises Bill Brown of Halpern Enterprises Click here to access the complimentary webinar recording. Hear what experts in the …

May 11, 2020

Features Georgia Restaurant Retail Southeast Southeast Feature Archive Video Webinar

Retail Reboot Webinar: Wave of Second-Generation Restaurant Space to Hit Atlanta Market

by John Nelson May 11, 2020

As many as 150,000 to 200,000 restaurants nationwide may never fully reopen again after the COVID-19 pandemic subsides, according to estimates from the National Restaurant Association. This represents 15 to 20 percent of all U.S. restaurants. Though the metro Atlanta area’s restaurants have been allowed to reopen their dining rooms for a full two weeks following Georgia Gov. Brian Kemp’s directives in late April, early indications are that a large swath of operators are choosing to keep them closed and focus on takeout, delivery and catering. Others are making the hard choice to close their eateries permanently. As a result, there will be a wave of second-generation restaurant space that will need to be absorbed before new restaurants are built en masse in metro Atlanta, said Tom McCarty of barbecue restaurant chain Jim ’N Nick’s during a webinar hosted by France Media’s Shopping Center Business and sponsored by Retail Specialists. “From our standpoint, our developments are on hold for now,” said McCarty about the chain, which opened a location in metro Atlanta’s East Cobb district late last year. “The focus of the company is on getting our existing restaurants back up and running profitably. Once that happens, then we’ll start …

May 11, 2020

District of Columbia Southeast

COVID-19 Continues to Hammer US Economy as 20.5M Americans Lose Jobs in April

by Alex Tostado May 8, 2020

WASHINGTON, D.C. — The U.S. economy lost 20.5 million jobs in April, according to the Bureau of Labor Statistics (BLS), as the COVID-19 outbreak continued to wreak havoc. The leisure and hospitality sector was particularly hard hit, losing 47 percent of its workforce in April. The BLS also reports the unemployment rate jumped from 4.4 percent in March to 14.7 percent in April, the highest since February 2011. The total number of jobs lost is the highest since records began in 1939. The leisure and hospitality sector lost 7.7 million jobs in April compared with a loss of 2.5 million jobs for the education and health services sector, the next hardest hit segment. Retail trade lost 2.1 million jobs with the heaviest losses coming in the clothing and clothing accessories stores (minus 740,000). Similarly, the professional and business services segment lost 2.1 million jobs. The BLS also noted that the number of people out of work but seeking employment in April was 9.9 million, nearly double the prior month. As alarming as the labor numbers were for April, they were better than expected. Economists from the Wall Street Journal had collectively forecast a loss of 22 million jobs. The BLS …

May 8, 2020

Loans Multifamily North Carolina Southeast

Newmark Knight Frank Arranges $43M Refinancing Loan for New Apartment Complex in Charlotte

by Alex Tostado May 8, 2020

CHARLOTTE, N.C. — Newmark Knight Frank (NKF) has arranged a $43 million refinancing loan for Arlo Apartment Homes, a 286-unit community in Charlotte. The property, which was built in 2018, offers studio through three-bedroom floor plans. Communal amenities include a pool, outdoor kitchen, rooftop lounge, fitness center, club room with a gaming lounge, courtyard, pet spa and grooming lounge and a bike storage and repair station. The community is situated at 1331 W. Morehead St., two miles west of downtown Charlotte. Chris Caison and Josh Davis of NKF arranged the loan through an undisclosed insurance company on behalf of the borrower, Bluerock Residential Growth REIT Inc.

May 8, 2020

Company News Retail Southeast

Sprouts Farmers Market Expands Grocery Pick-Up Service to 46 Stores Across Southeast

by Alex Tostado May 8, 2020

PHOENIX — Sprouts Farmers Market has expanded its grocery pick-up service to 46 stores in Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee as the grocer faces heightened demand amid the COVID-19 outbreak. The service allows customers to plan grocery pick-up for the same day or to schedule several days in advance. Their personal shopper will bring the groceries to a designated pickup parking spot when the customer arrives and checks in. A list of specific stores offering the service was not disclosed. The Phoenix-based grocer recently expanded this service to 30 of its stores across Texas. Sprouts also partners with Instacart for same-day delivery services.

May 8, 2020

Newer Posts

Older Posts