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

Industrial Leasing Activity North Carolina Southeast

CBRE|Raleigh Arranges 103,920 SF Industrial Lease for Highland Cabinetry in Metro Raleigh

by Alex Tostado September 9, 2020

KNIGHTDALE, N.C. — CBRE|Raleigh has arranged a 103,920-square-foot industrial lease for Highland Cabinetry Inc. within Eastgate 540 industrial park in Knightdale. The cabinet supplier will occupy space within Building 2, situated at 365 Spectrum Drive, nine miles east of downtown Raleigh. Other tenants at the 968,000-square-foot park include All American Relocation, CHEP USA, Eby-Brown, Francini Inc. and Trade Venture Stones. Austin Nagy of CBRE|Raleigh represented the tenant in the transaction. Foundry Commercial represented the landlord, Trinity Capital Advisors.

September 9, 2020

Company News Georgia Southeast

Architect Jack Portman III Dies at Age 71

by Alex Tostado September 9, 2020

ATLANTA — John Calvin “Jack” Portman III, chairman and CEO of Atlanta-based Portman Architects, has died at age 71 due to natural causes. Portman is the son of famous Atlanta architect John Calvin Portman Jr. Portman III started at then-John Portman & Associates in 1973. Portman III took over leadership of Portman Architects following the death of his father in 2017. Portman III earned a Bachelor of Architecture from Georgia Tech and a Master of Architecture from Harvard University’s Graduate School of Design. He is survived by his five children; his mother, Jan Portman; four siblings; and five grandchildren. Currently, Portman Architects has six ongoing projects in Midtown Atlanta, Near Hartsfield-Jackson Atlanta International Airport and in Salt Lake City.

September 9, 2020

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