AUBURNDALE, FLA. — San Francisco-based industrial developer Prologis plans to build a 1 million-square-foot fulfillment center in Auburndale for e-commerce giant Amazon. Situated in the Lakeland MSA about 50 miles east of Tampa, the new facility will house 500 full-time employees who will pick, pack and ship large customer items including sports equipment, patio furniture, fishing rods, pet food, kayaks, bicycles and large household goods. Amazon currently employs more than 13,500 full-time associates throughout Florida. Earlier this week, Amazon announced a similar sized fulfillment center that Hillwood will develop in the metro Memphis town of Olive Branch, Miss. A timeline for construction of the Auburndale facility was not disclosed. The Tampa Bay Business Journal reported in August that the new center will sit on a 146-acre site near the Interstate 4-State Road 559 interchange.
COLLEGE PARK, GA. — The City of College Park has opened Gateway Center, a multipurpose sports and entertainment venue that serves as home of the WNBA’s Atlanta Dream team and the College Park Skyhawks, the official NBA G League affiliate of the NBA’s Atlanta Hawks. Designed by Atlanta-based tvsdesign, Gateway Center is located at 2330 Convention Center Concourse in the south Atlanta city of College Park and contains a maximum of 5,000 seats. A partnership between Georgia International Convention Center (GICC) and The Fox Theatre will operate the arena. The 100,000-square-foot property, which has been in progress since February 2018, was funded by the City of College Park and is located next door to the GICC and near Hartsfield-Jackson Atlanta International Airport. In addition to home basketball games, the arena will also be used to host graduations, conferences and conventions. The Fox Theatre will also book a variety of entertainment events including comedy performances, family shows, concerts and lifestyle events at the arena.
RICHMOND, VA. — Thalhimer Realty Partners, the investment and development arm of Cushman & Wakefield | Thalhimer, plans to build the next phase of City View Landing, a residential development situated in Richmond’s Manchester neighborhood. Dubbed City View Marketplace, the $30 million project will include five buildings housing 161 apartments and 13,270 square feet of ground-level retail space. The project will join The Overlook at City View and City View Row within the master development. Thalhimer expects to deliver City View Marketplace in phases, with a full completion set for April 2020. The City View Landing development features a two-acre pad site on Hull Street that could house a 36,000-square-foot grocer or a future mixed-use building, according to Thalhimer.
STARKVILLE, MISS. — SRS Real Estate Partners has arranged the $8.4 million sale of a 62,916-square-foot store in Starkville fully leased to Academy Sports + Outdoors. The sporting goods retailer recently signed a 15-year lease at the store with scheduled rent increases and options to extend. A private investor based in Southern California purchased the asset in 1031 exchange from the seller, a merchant real estate developer based in the Southeast. The store was built in 2017 at 160 Hollywood Blvd., about five miles west of Mississippi State University. Britt Raymond, Kyle Fant, Matthew Mousavi and Patrick Luther of SRS represented both parties in the transaction.
BUFORD, GA. — Harbor Group International LLC (HGI) has sold Preserve at Mill Creek, a 400-unit multifamily property located in Buford, 32 miles northeast of Atlanta, for $75 million. The buyer was not disclosed. The asset is located 1400 Mall of Georgia Blvd. and features one-, two- and three-bedroom apartments, as well as a swimming pool, tennis courts and a fitness center. The property is near Interstate 85 and Ga. Highway 20 and the Mall of Georgia. First Communities manages the property. HGI recently completed a $3.9 million renovation to the community. The Norfolk-based investor also purchased The Cedars at Elm Hill in Nashville earlier this year with plans to make capital improvements.
NORCROSS, GA. — JLL has brokered the $71.3 million sale of Gwinnett Park, a 981,720-square-foot light industrial and business park portfolio composed of 18 buildings in the Atlanta suburb of Norcross. Dennis Mitchell, Matt Wirth and Britton Burdette of JLL marketed the property on behalf of the seller, California-based Sperry Equities. Dogwood Industrial Properties purchased the portfolio. Dogwood, owned by TPG Real Estate Partners, specializes in multi-tenant industrial assets. Gwinnett Park is located at 4405 International Blvd., near Interstate 85 and approximately 20 miles northeast of downtown Atlanta. The business park’s buildings were constructed between 1973 and 1997 and feature 18- to 22-foot clear heights, a combination of shallow bay suites, a mix of grade-level and dock-high doors, parking and office space. The property is approximately 87 percent leased to more than 55 tenants in various sectors, including manufacturing, healthcare, logistics, education, consumer goods, marketing, financial services, engineering and commercial and business services.
PANAMA CITY BEACH, FLA. — Mesa Capital Partners will break ground in December on The Tyde, a new $50 million multifamily project in Panama City Beach. The Tyde will feature 300 one-, two-, and three-bedroom apartments with varying construction layouts, including two-story carriage homes, three-story walk-ups and four-story, elevator-serviced buildings. The community will be situated at the intersection of Clara Avenue and U.S. Highway 98, less than a mile from the Gulf of Mexico and near retail and local employers Bay Medical Center and Tyndall Air Force Base. The Tyde will include a clubhouse, fitness center, community space, pool, outdoor fireplaces and grill stations. Atlanta-based Mesa Capital Partners plans to have the units available to lease in late 2020. The project team includes architect Gary B. Coursey & Associates Architects Inc. and engineer Robert Carroll, and Mesa Capital Partners is in the process of selecting a general contractor.
FREDERICK, MD. — M&T Realty Capital Corp. has provided an $11.6 million Fannie Mae acquisition loan for the 70-unit Vista View Apartments in Frederick. Washington D.C.-based real estate investment, development and management group The BurnBrae Cos. purchased the property at 2401 Highpoint View Court near Fort Detrick. Vista View offers two-bedroom units with five different floor plans for rent. Property amenities include three pools, two basketball courts, three parks and a barbeque/grilling area. M&T’s Matthew Hodson structured the loan, which carries a 10-year term and five years of interest-only payments, followed by a 30-year amortization schedule.
BLYTHEWOOD, S.C. — Jushi USA, a California-based supplier of fiberglass reinforcements and fabrics, has leased 280,000 square feet of industrial space at 10700 Farrow Road in Blythewood, a suburb of Columbia. The property is part of the Carolinas Industrial Properties portfolio, which consists of 39 buildings spanning 5.5 million square feet and housing 55 tenants. Built in 1971, 10700 Farrow Road is located 15 miles north of downtown Columbia and 20 miles north of one of Jushi’s existing distribution centers. The Blythewood facility was the largest available industrial space for lease in the Columbia market and previously housed KitchenAid, Little Tikes, Remington, Pure Power Technologies and Samsung. Colliers International’s Chuck Salley, Dave Mathews, Thomas Beard and John Peebles represented the landlord, Reger Holdings LLC, in the lease negotiations.
ATLANTA — The future of food and beverage retail is…sports? To hear from “The Future of Restaurants & Entertainment” panel at the ICSC Southeast Conference & Deal Making event, sports-centric concepts are a solid bet for retail real estate owners to pursue going forward. Produced by the International Council of Shopping Centers (ICSC), the event was held Nov. 13-15 at the newly renovated Georgia World Congress Center in downtown Atlanta. Justin Amick, president of Painted Hospitality, spoke during the panel about his two venues in Atlanta, The Painted Pin and The Painted Duck. Both locations have an industrial motif and offer an expanded dinner menu, craft beer and cocktails and classic parlor games such as shuffleboard and horseshoes. The differentiator, though, is the boutique bowling alley. Amick said the idea is to attract patrons with the games and provide an experience while making money via food and beverage. “Painted wasn’t the first to invent the high-end bowling concept — the first to do so was probably Lucky Strike — but with our model of gaming, food and beverage, dancing and sports all under one roof, we do it well,” said Amick. His company recently announced a second location of The Painted …