Southeast

Metropica Development Completes 28-Story Residential Tower, First Phase of $1.5B Mixed-Use Project in South Florida

by John Nelson June 23, 2020

SUNRISE, FLA. — Metropica Development LLC, led by Joseph Kavana of K Group Holdings, has completed the first residential tower within Metropica, a $1.5 billion mixed-use project in the South Florida city of Sunrise. The 28-story ONE Metropica Residences comprises 263 condominiums. The City of Sunrise recently issued Metropica Development LLC a temporary certificate of occupancy (TCO) so that move-ins can begin. Metropica is situated adjacent to Simon’s Sawgrass Mills Mall and in close proximity to Interstates 75, 95 and 595, as well as the Florida Turnpike. As of this writing, 75 percent of the units at ONE Metropica Residences have been purchased by buyers hailing from the United States, Latin America, Europe and Asia. The condos range in size from 961 to 2,022 square feet, and the property’s remaining units are priced ranging from the $400,000s to the $700,000s. Buyers of the move-in-ready units can close on their purchase either in-person or virtually. “We are extremely proud to be delivering our first residential building to the market,” says Bernard Werner, president of Metropica Development LLC. Designed by architectural firms Oppenheim Architecture + Design and YOO Design Group, condominiums at ONE Metropica Residences include floor-to-ceiling glass windows, porcelain tile, smart …

June 23, 2020

Development Florida Multifamily Southeast

Roger B. Kennedy Construction Breaks Ground on 342-Unit Apartment Complex in Metro Orlando

by Alex Tostado June 22, 2020

OAKLAND, FLA. — Roger B. Kennedy Construction has broken ground on The Avenue on Oakland, a planned 342-unit apartment complex in Oakland. The community will be located at 17210 Oakland Ave., 18 miles west of downtown Orlando. The property will comprise four four-story buildings, a clubhouse and a pool. The developer, UNICORP National Developments Inc., expects to deliver The Avenue on Oakland in December 2021. Slocum Platts Architects designed the community. The cost of development was not disclosed, although Roger B. Kennedy Construction says it entered a $47 million contract with the developer.

June 22, 2020

Acquisitions Development Multifamily Southeast Tennessee

Capstone Negotiates Sale of Multifamily Community Made of Shipping Containers Under Construction in Nashville

by Alex Tostado June 22, 2020

NASHVILLE, TENN. — Capstone Apartment Partners has negotiated the sale of 83 Freight, a planned 83-unit multifamily community being built using shipping containers in Nashville. When complete, the community will offer rooftop balconies, as well as studio, one- and two-bedroom floor plans ranging in size from 320 to 1,280 square feet. The property is situated within Nashville’s Wedgewood-Houston neighborhood, which was historically an industrial district. Now the area is being reimagined and will include the 27,500-seat soccer stadium for the MLS’ Nashville SC. The seller, FMBC Investments, expects to deliver 83 Freight this summer. Adam Klenk, Jonathan Hawks, Tyler Mayo and Austin Heithcock of Capstone represented the seller in the transaction. The undisclosed buyer acquired the property for more than $11 million.

June 22, 2020

Industrial Leasing Activity South Carolina Southeast

Colliers Arranges 54,312 SF Industrial Lease for Electronics Company in West Columbia, South Carolina

by Alex Tostado June 22, 2020

WEST COLUMBIA, S.C. — Colliers International has arranged a 54,312-square-foot industrial lease for Shiyu Electronics USA in West Columbia. The property is located at 128 McQueen St., seven miles southwest of downtown Columbia. China-based Shiyu Electronics supplies parts for washing machines that are produced in Samsung’s plant in Newberry, S.C., about 50 miles from 128 McQueen St. The building at 128 McQueen spans 170,195 square feet and is now fully leased to Shiyu Electronics, Morrisette Paper Co. and plastic fabrication company Carolina Container. Chuck Salley, Dave Mathews, Thomas Beard and John Peebles of Colliers represented the tenant in the transaction. The landlord was not disclosed.

June 22, 2020

Development District of Columbia Multifamily Southeast

Jefferson Apartment Group, Stars REI Deliver 132-Unit Multifamily Community in D.C.

by Alex Tostado June 22, 2020

WASHINGTON, D.C. — Jefferson Apartment Group and Stars REI have delivered J Linea, a 132-unit apartment community in Washington, D.C.’s Shaw neighborhood. The property is situated at 2009 8th St., less than two miles from downtown D.C. J Linea offers studio, one- and two-bedroom floor plans, each featuring stainless steel appliances, quartz countertops and backsplashes, kitchen islands, plank flooring and floor-to-ceiling windows. Communal amenities include a fitness center, rooftop terrace, coworking booths, 24/7 Amazon Hub package system and 16,000 square feet of ground-floor retail space. The joint venture acquired the site in 2016.

June 22, 2020

Acquisitions Florida Retail Southeast

SRS Brokers $4.7M Sale of New Retail Property Leased to 7-Eleven in Southwest Florida

by Alex Tostado June 22, 2020

FORT MYERS, FLA. — SRS National Net Lease Group has arranged the $4.7 million sale of a retail property leased to 7-Eleven in Fort Myers. The property comprises a 2,961-square-foot convenience store and a gas station. A 15-year lease is in place with 7-Eleven Inc. for the property, which was completed in late 2019. The asset is situated at 6715 Winkler Road, seven miles south of downtown Fort Myers. Parker Walter of SRS represented the buyer, a California-based private investor that was in a 1031 exchange, in the transaction. Frank Rogers and Michael Carter of SRS represented the seller, an undisclosed Florida-based developer.

June 22, 2020

Development Mixed-Use Southeast Tennessee

GBT Realty Breaks Ground on Parke West Mixed-Use Project in West Nashville

by John Nelson June 19, 2020

NASHVILLE, TENN. — GBT Realty has broken ground on Parke West, a mixed-use development near Nashville’s West End that will feature a dual-branded hotel, 210 residential units and 11,000 square feet of retail space. Chartwell Hospitality will develop and manage the hotel, which will feature 110 Hilton Garden Inn rooms and 69 Home2 Suites rooms. The hotel will also feature a fitness center, amenity deck and 4,000 square feet of meeting space. This is the 13th hotel that Brentwood, Tenn.-based GBT Realty has built in the Nashville market. The apartment community will feature two outdoor amenity spaces. Hoar Construction is serving as the general contractor for Parke West, and First Horizon Bank provided construction financing. GBT Realty expects to deliver the project in 2022.

June 19, 2020

GreenWise Market Preserve Marketplace Odessa

Development Florida Leasing Activity Retail Southeast

Publix Opens 25,147 SF GreenWise Organic Grocery Store Near Tampa

by John Nelson June 19, 2020

ODESSA, FLA. — Publix Super Markets Inc. has opened a 25,147-square-foot GreenWise Market in Odessa, its fourth Florida location for the grocer. The organic grocery store is situated within Preserve Marketplace, a shopping center located along State Road 54 about 25 miles north of Tampa. The Sembler Co. is the owner of the newly built, 56,331-square-foot shopping center. The new GreenWise includes five “experience zones” labeled Cares (vitamins and soaps), Cuts (meats), Eats (prepared meals including sandwiches and pizza), Finds (wine and cheese) and Pours (a bar serving wine, coffee and beer that patrons can drink while shopping). The store also features a mural by artist Candace Knapp. There are currently eight open GreenWise locations in the Southeast, and another is set to open on Saturday, June 20 in Ponte Vedra, Fla. Publix also plans to open a GreenWise at Channelside in downtown Tampa next year.

June 19, 2020

Acquisitions Kentucky Self-Storage Southeast

SkyView Advisors Negotiates Sale of 421-Unit Self-Storage Facility on Louisville’s East Side

by John Nelson June 19, 2020

LOUISVILLE, KY. — SkyView Advisors has negotiated the sale of Aladdin Self Storage, a 421-unit facility in Louisville. The property spans 3.5 acres and comprises 46,465 square feet. Aladdin Self Storage is situated at 3413 Collins Lane, 16 miles east of downtown Louisville. Zack Urow or SkyView Advisors represented the undisclosed, private seller in the transaction. The buyer was an undisclosed REIT. The sales price was also not disclosed.

June 19, 2020

Loans Seniors Housing South Carolina Southeast

Cushman & Wakefield Arranges $19.8M Refinancing Loan for New Seniors Housing Community in Metro Charlotte

by John Nelson June 19, 2020

ROCK HILL, S.C. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged a $19.8 million loan for HarborChase of Riverwalk, a recently opened assisted living and memory care community in Rock Hill. The borrower, private equity firm BridgeForth Capital, will use the funds to refinance the construction loan. Operated by Harbor Retirement Associates, HarborChase of Riverwalk is an 88-unit property located within the Riverwalk master-planned development. The community, which opened February, is located 25 miles south of Charlotte. Richard Swartz, Jay Wagner and Tim Hosmer of Cushman & Wakefield arranged the loan through Saperean Capital.

June 19, 2020

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