WASHINGTON, D.C. — In the midst of the COVID-19 pandemic, Peterson Cos. has unveiled its plans for welcoming back tenants and customers, once permitted to do so. Peterson owns and operates open-air, mixed-use and power center properties. The company will implement the plan across several of its properties, including at National Harbor, Downtown Silver Spring, Rio in Gaithersburg, Fairfax Corner and Fair Lakes. Virginia Gov. Ralph Northam says he wants to slowly begin reopening retail businesses in the state, but he will allow northern Virginia to move at its own pace given the elevated number of COVID-19 cases in the region. Maryland Gov. Larry Hogan allowed the reopenings of parks and public spaces last week, but has not yet released guidelines on retail businesses. Washington, D.C. Mayor Muriel Bowser also released guidelines for residents to participate in outdoor activities but not retail-specific guidelines. Some of the new operations that the shopping centers will implement include hand sanitizing stations located throughout centers, especially in high-traffic, high-touch areas such as elevator lobbies, breezeways, restrooms, outdoor plazas and gathering areas; social distancing signage will remind customers and employees to stay six feet apart; curbside pickup areas will remain throughout the properties and will …
HARRISBURG, N.C. — JLL has negotiated the sale-leaseback of a 126,363-square-foot industrial building in Harrisburg fully leased to Wilbert Plastic Services. The single-story building is situated on 16 acres at 7301 Caldwell Road, 13 miles northeast of downtown Charlotte. The buyer, AIC Ventures, executed a new long-term lease with Wilbert Plastic Services upon completion of the sale. Wilbert Plastic Services is headquartered in Belmont on the other side of Charlotte and specializes in thermoforming and injection molding. Pete Pittroff, Patrick Nally, Val Derrick and Dave Andrews of JLL represented the seller in the transaction. The sales price was not disclosed.
FAYETTEVILLE, GA. — Pinewood Forest and Pace Lynch Corp. have signed Edwin Jarvis, an independent mail center and concierge service, to a lease at a 235-acre mixed-use development in south Atlanta. The project, dubbed Pinewood Forest, comprises single-family homes, multifamily units, a town green, retail space and office space. It is situated near Pinewood Atlanta Studios, which has filmed movies such as “Avengers: Endgame,” “Ant-Man,” “Passengers” and “Guardians of the Galaxy: Vol. 2.” In addition to mail services, Edwin Jarvis will offer residents what it calls “second-mile” concierge services, which include securing a dog walker, setting up appointments for home repairs and booking music lessons. The center’s storefront within Pinewood Forest’s Town Center will connect to the Pinewood Forest community mail room. Other tenants that have signed leases at Pinewood Forest’s Town Center include Leyland Blue Home Décor, Premiere Hair Studio, Sugarcoat Nails, Native Beauty Bar salon and boutique, The Skin Society, Apple Butter Bakery, Honeysuckle Gelato, Hop City + Barleygarden and Braise. Bill Lynch of Pace Lynch Realty and Todd Semrau of Oakhurst Realty Partners represented the developers in the transaction.
MIAMI — JLL has arranged the sale of 21st Century Self Storage, a 636-unit facility in Miami. The 37,242-square-foot asset features climate-controlled units and 26 parking spaces. The building was originally constructed in the 1950s and was converted to self-storage in 2003. The building is located at 200 NW 79th St., eight miles north of downtown Miami. Steve Mellon, Brian Somoza and Manny de Zárraga of JLL represented the seller, 21st Century Self Storage, in the transaction. Amsdell Cos. and Compass Self Storage purchased the facility for an undisclosed price.
DURHAM, N.C. — Newmark Knight Frank (NKF) has negotiated the sale of Southpoint Crossing, a 288-unit multifamily community in Durham. The property offers one-, two- and three-bedroom floor plans ranging from 635 to 1,301 square feet. The asset was 96 percent occupied at the time of sale. Communal amenities include a 24-hour fitness center, pool with lounge, a 24-hour business center, grilling area with picnic tables, playground, dog park and Amazon Hub package lockers. The seller, New York City-based Duck Pond Realty, upgraded several unit interiors with new appliances, resurfaced counters and faux-wood flooring in kitchens and bathrooms. The community is located at 1800 Southpoint Crossing Drive, seven miles south of downtown Durham. Toronto-based Starlight Investments purchased the property for an undisclosed amount. Sean Wood, John Heimburger, Dean Smith, Alex Okulski, John Munroe and Jason Kon of NKF represented the seller in the transaction.
STUART, FLA. — Cushman & Wakefield Senior Housing Capital Markets has brokered the $22.2 million sale of The Pointe at Ocean Boulevard, an independent living community in Stuart. Sentio Investments sold the seniors housing asset to an affiliate of Waypoint Real Estate Investments. Arrow Senior Living has been retained to operate the community. The Pointe at Ocean Boulevard features 150 units and is located at 2750 SE Ocean Blvd., a mile west of the Atlantic Ocean and three miles east of downtown Stuart. The property was built in 1986 and was recently renovated. Richard Swartz, Jay Wagner, Tim Hosmer, Chris Remeika and Jack Griffin of Cushman & Wakefield brokered the sale.
DAVENPORT, FLA. — Tailwinds Development LLC will develop a Publix-anchored shopping center within Champions Crossing in Davenport. The grocery store is slated to open in summer 2021. The new Publix will be located at 1200 Champions Drive, 30 miles southwest of downtown Orlando. Ali Mushtaq of SVN Florida represented the property owner, Savi Tri-County LLC, in the lease negotiations. According to Mushtaq, there is 7,121 square feet available for in-line leasing and 5,415 square feet available at an outparcel at the shopping center development. Champions Crossing is a master-planned development, which upon completion will feature retail, restaurant and office space. The 110-room WoodSpring Suites hotel opened in 2019, as well as the 326-unit Champions Vue Apartments.
KNOXVILLE, TENN. AND SOMERSET, KY. — Hanley Investment Group has arranged the sale of two multi-tenant retail outparcels situated on Walmart Supercenter-anchored properties in Tennessee and Kentucky. An undisclosed private investor based in Kentucky acquired both properties in all-cash deals. The first sale was of a two-tenant building leased to Aspen Dental and Visionworks in Knoxville. The outparcel was built in 2015 and spans 7,500 square feet. The property is situated at 2960 and 2964 Miller Place Way, seven miles north of downtown Knoxville. The undisclosed seller, a private investor based in New York City, sold the asset for $4.3 million. Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller in the transaction. The other property is a three-tenant, 6,847-square-foot property located at 2007 S. U.S. Highway 27 in Somerset. The property was built in 2015 and is triple-net-leased to Visionworks, Kay Jewelers and GNC. Indianapolis-based Thompson Thrift Retail sold the property for $2.6 million. The outparcel is situated three miles south of downtown Somerset. Dylan Mallory of Hanley represented the seller in the transaction.
On May 8, Southeast Real Estate Business and Shopping Center Business magazines hosted “Atlanta Retail Reboot,” a webinar where experts from the Atlanta investment, retail and brokerage communities were invited to discuss what they are seeing in the retail market, the impact of the coronavirus on existing properties and on new developments, as well as what retail and restaurants will look like in the near and long term. Many retailers have been closed for weeks due to COVID-19, and the retail industry is facing a tough comeback. Listen to learn what leaders in the metro Atlanta retail real estate community are expecting for the rest of 2020. Shopping Center Business editor Randall Shearin moderates a candid discussion on what to look forward to in terms of recovery for the Atlanta’s retail owners and tenants. Webinar sponsor: Retail Specialists, a full-service, retail-centric real estate company with a focus on the Southeast and beyond. Their services include leasing and brokerage, retailer representation, property management and development. Panelists: Emil Gullia, Retail Specialists Kyle Stonis, SRS Tom McCarty, Jim ‘N Nick’s Jeff Garrison, S.J. Collins Enterprises Bill Brown of Halpern Enterprises Click here to access the complimentary webinar recording. Hear what experts in the …
As many as 150,000 to 200,000 restaurants nationwide may never fully reopen again after the COVID-19 pandemic subsides, according to estimates from the National Restaurant Association. This represents 15 to 20 percent of all U.S. restaurants. Though the metro Atlanta area’s restaurants have been allowed to reopen their dining rooms for a full two weeks following Georgia Gov. Brian Kemp’s directives in late April, early indications are that a large swath of operators are choosing to keep them closed and focus on takeout, delivery and catering. Others are making the hard choice to close their eateries permanently. As a result, there will be a wave of second-generation restaurant space that will need to be absorbed before new restaurants are built en masse in metro Atlanta, said Tom McCarty of barbecue restaurant chain Jim ’N Nick’s during a webinar hosted by France Media’s Shopping Center Business and sponsored by Retail Specialists. “From our standpoint, our developments are on hold for now,” said McCarty about the chain, which opened a location in metro Atlanta’s East Cobb district late last year. “The focus of the company is on getting our existing restaurants back up and running profitably. Once that happens, then we’ll start …