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

Development Florida Hospitality Multifamily Southeast Top Stories

Miami Beach’s Historic Preservation Board Approves $750M Mixed-Use Redevelopment Project

by Kristin Harlow September 9, 2020

MIAMI BEACH, FLA. — The Historic Preservation Board (HPB) of the City of Miami Beach has approved the three-acre master plan for the redevelopment of the historic Raleigh, South Seas and Richmond hotels. Real estate owner and developer Michael Shvo plans to fully restore the three properties and unify them as one site to be operated as a luxury hotel and condominium building. Project costs are estimated at $750 million. The approved plan also includes construction of a new 175-foot oceanfront residential tower behind the Richmond and South Seas. The developer agreed to trim the height from 200 feet, according to the Miami Herald. No further approvals are needed and construction is expected to begin within the year. Shvo will restore the Raleigh Hotel and its iconic pool as well as the historic frontage of the Richmond and South Seas to their original 1941 grandeur. Legendary architect L. Murray Dixon was the original designer. The pool was used in several movies, including The Birdcage, Bad Boys and Up Close and Personal. Shvo and his team worked with HPB and Miami Beach stakeholders to ensure that the proposed plans would maintain the buildings’ original facades. This includes the removal of the penthouse floor that …

September 9, 2020

Development Florida Multifamily Southeast

Estate Cos., Merrimac to Construct 340-Unit Apartment Complex in South Florida

by Alex Tostado September 8, 2020

DANIA BEACH, FLA. — The Estate Cos. and Merrimac Ventures will develop Soleste Cityline, a planned 340-unit apartment complex that will also feature 12,800 square feet of retail space in Dania Beach. The Broward County asset will be situated at 4 N. Federal Highway, 26 miles north of downtown Miami. The property will offer studio to three-bedroom units ranging from 600 to 1,200 square feet. Communal amenities will include a pool, pool deck, fitness center, grilling area, clubroom and private event spaces. The eight-story building will also feature 545 parking spaces. Merrimac will retain the retail space while Estate Cos. will manage the multifamily portion of the property. Merrimac sold the 2.5-acre plot to 4 North Federal Holdings LLC, an affiliate of Estate Cos. and Merrimac, for $8 million. Synovus Financial Corp. provided the partners with $4.7 million in acquisition financing. The developers expect to break ground in the fourth quarter of this year. The design team and timeline for completion were not disclosed.

September 8, 2020

Development Georgia Industrial Southeast

CenterPoint Properties to Develop 650,000 SF Industrial Facility Near Port of Savannah

by Alex Tostado September 8, 2020

SAVANNAH, GA. — CenterPoint Properties plans to develop a 650,000-square-foot industrial facility near the Port of Savannah. The Oak Brook, Ill.-based company recently acquired 73 acres on the 2100-2200 block of Ga. Highway 307, which is three miles from the port and five miles from Savannah/Hilton Head International Airport. A timeline for construction was not disclosed.

September 8, 2020

Acquisitions Multifamily Southeast West Virginia

Marcus & Millichap Arranges $10M Sale of Multifamily Property in Martinsburg, West Virginia

by Alex Tostado September 8, 2020

MARTINSBURG, W.VA. — Marcus & Millichap has arranged the $10 million sale of Elmtree Townhouse Apartments, a 97-unit multifamily community in Martinsburg. The property, which is two stories tall and was built in 2006, offers two- and three-bedroom floor plans. The asset is situated at 125 Winslow Drive, four miles north of downtown Martinsburg and five miles from the West Virginia-Maryland border. Marcus & Millichap’s Dana Newton and Mike Maxwell, along with the firm’s broker of record Francis McGuire, represented both the buyer and seller, undisclosed private investors, in the transaction.

September 8, 2020

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