TUCKER, GA. — Sugar Bowl Bakery will open a manufacturing facility in Tucker. The family-owned bakery expects to create 400 jobs and invest $37 million over the next five years. The property is situated at 3301 Montreal Industrial Way, 15 miles northeast of downtown Atlanta. The new positions available will include bakery management, production, quality assurance, maintenance, warehousing and sanitation. Further details about the facility were not disclosed. The Ly family founded Sugar Bowl Bakery in 1984 in San Francisco. The Tucker facility is the company’s first location on the East Coast.
JACKSONVILLE, FLA. — Colliers International has brokered the sale of Mandarin Central, a 63,346-square-foot shopping center in Jacksonville. The center was constructed in 1985 on seven acres at 11018 Old Saint Augustine Road, 17 miles south of downtown Jacksonville. The property was 94 percent leased at the time of sale to tenants including Dollar General, Pizza Hut and Salento Steakhouse. Milestone Properties Inc. sold the asset to Mandarin Central Plaza LLC for an undisclosed price. Joe Montgomery, Tony D’Ambrosio and Ernie Saltmarsh IV of Colliers represented the seller in the transaction.
MANASSAS, VA. — Merritt Properties has signed an undisclosed e-retailer to a full-building, 137,350-square-foot lease within I-66 Business Park, a six-building property in Manassas. Merritt expects to deliver the property in April and the tenant expects to move in this summer. Tony Russo and Diane Drobia of CBRE represented the developer and the full-building user in the lease transaction. When complete, the six buildings on the property will range in size from 30,600 to 137,350 square feet. Michael Larkin of Merritt says the company will begin construction on the sixth and final building in April and expect to deliver it in the third quarter of this year. The building will span 97,200 square feet. At full build-out, I-66 Business Park will comprise 596,900 square feet. To date, the property is 83 percent leased to 11 tenants. The buildings offer 18- to 32-foot clear heights. Each property is rear loaded and provides dock and drive-in capabilities. Situated along Interstate 66, I-66 Business Park is located 28 miles west of Washington, D.C.
HUNTSVILLE, ALA. — SRS Investment Properties Group has arranged the $3.5 million sale of The Fountain, a 38,338-square-foot retail property in Huntsville. Costco and The Home Depot shadow anchor the multi-tenant retail strip, which spans 3.9 acres. The Fountain was fully leased at the time of sale to tenants including Staples, Citi Trends and Shoe Show. The property is situated at 1201 N. Memorial Parkway, just north of downtown Huntsville. Boris Shilkrot and Pierce Mayson of SRS represented the seller, Somera — 1201 North Memorial Parkway LLC, in the transaction. T.J. Lee of Bill Pool Realty represented the buyer, TA Sharp Properties.
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WASHINGTON, D.C. — Novel Coworking has opened Novel Coworking Dupont Circle, a 12-story, 190,385-square-foot office building in northwest Washington, D.C. The company acquired the building, situated at 1201 Connecticut Ave. NW, in July 2019. The space can accommodate one- to 200-person teams. Situated two blocks from Dupont Circle, the building was originally developed in 1940. Memberships start at $199 per month, private offices start at $575 per month and office suites start at $399 per employee a month. Chicago-based Novel Coworking operates 37 locations nationwide.
LOUISVILLE, KY. — Hilton Hotels has broken ground on Tempo by Hilton Louisville NuLu, a 130-room, six-story hotel in Louisville’s NuLu neighborhood. The property is situated at 710 E. Jefferson St., two miles east of downtown Louisville and six miles north of Churchill Downs, site of the annual Kentucky Derby. Hilton, and co-owners First Hospitality and Weyland Ventures, expect the hotel to open in time for the 2021 Kentucky Derby. Tempo by Hilton will offer a rooftop bar, fitness center, meeting space, complimentary coffee service and public greenspaces. Hilton has more than 30 confirmed deals for the Tempo brand in cities including New York City, Maui, Boston and Washington, D.C.
ORLANDO, FLA. — Cushman & Wakefield has arranged the sale of a 713,585-square-foot distribution center fully leased to CVS/pharmacy in Orlando. CVS services 500 stores in Florida and Puerto Rico from the facility. The property is situated at 8201 Chancellor Drive, eight miles south of downtown Orlando and nine miles west of Orlando International Airport. The building was originally developed in 1975 and offers 24- to 35-foot clear heights, 97 dock positions, approximately 500 car parking spaces and 429 trailer parking spaces. The seller was a closed-ended fund owned by a Spanish family office and managed by Exan Capital, an independent real estate fund manager. The buyer was PBV Logistics Center LLC, an affiliate of Phoenix-based logistics investor and developer Tratt Properties. Mike Davis, Wayne Ramoski, Rick Brugge, Rick Colon, Jared Bonshire and David Perez of Cushman & Wakefield represented the seller in the transaction.
SANFORD, FLA. — Wendover Housing Partners has unveiled plans for Norton Commons, an affordable seniors housing community in Sanford, a suburb of Orlando. Wendover recently acquired a 4.3-acre site for the new community, with plans to break ground as early as mid-March. The three-story building will offer 68 apartments. Rental rates for Norton Commons apartments are expected to start at $708 per month for one-bedroom units and $837 per month for two-bedroom units. Norton Commons will cost an estimated $15.9 million to develop. Financing includes $1.4 million in LIHTC (Low-Income Housing Tax Credits) from Florida Housing Finance Corp. Slocum Platts Architects is designing the complex, and Roger B. Kennedy is the general contractor. Wendover expects construction to take 10 months.
WEST MEMPHIS, ARK. — AKA Partners LLC has acquired Storage Depot, a climate-controlled self-storage facility in West Memphis, for $8.9 million. The Murray, Utah-based buyer plans to expand the property on the adjacent three acres. Storage Depot is situated at 701 Ark. Highway 77, nine miles west of downtown Memphis. AKA Partners has hired Argus Management to manage the property. Barclays provided acquisition financing. The seller was West Memphis-based DSB, a partnership between David Reagler, Scott Ferguson and LaRand Thomas. Larry Goldman of RE/Max represented the seller in the transaction.