Southeast

Hillwood Purchases 1 MSF Distribution Center in Northeast Georgia for $44.9M

by Alex Tostado March 26, 2019

PENDERGRASS, GA. — Hillwood, a Dallas-based industrial owner and developer founded by Ross Perot Jr., has purchased Valentine 85 Logistics Center, a 1 million-square-foot distribution building in Pendergrass. Atlanta Business Chronicle reports the sales price was $44.9 million. The asset was recently delivered by a joint venture between San Antonio-based USAA Real Estate and Atlanta-based Seefried Industrial Partners. Valentine 85 features 40-foot clear heights, 50-foot-by-56-foot bays with 60-foot speed bays, 446 car parking spaces and 267 trailer parking spaces. The property is located at 117 Valentine Industrial Parkway near Interstate 85, about 28 miles north of Athens.

March 26, 2019

Acquisitions Florida Industrial Self-Storage Southeast

SkyView Advisors Arranges Sale of 65,224 SF Self-Storage Facility in Tampa

by Alex Tostado March 26, 2019

TAMPA, FLA. — SkyView Advisors has arranged the sale of Seminole & Heights Self Storage, a 65,224-square-foot facility in Tampa. Located on a 2.1-acre site at 1011 E. Dr. Martin Luther King Jr. Blvd., the property offers nine non-climate-controlled units and 625 climate-controlled units. The buyer and sales price were not disclosed. Ryan Clark of SkyView Advisors represented the undisclosed seller.

March 26, 2019

Acquisitions Georgia Healthcare Southeast

Anchor Health Properties Acquires Two Medical Office Buildings in Metro Atlanta Totaling 45,000 SF

by Alex Tostado March 26, 2019

NEWNAN AND LAWRENCEVILLE, GA. — Anchor Health Properties has acquired two fully leased medical office buildings (MOBs) in metro Atlanta on behalf of the Chestnut Healthcare Fund, a discretionary equity fund focused on the acquisition and development of medical office assets across the United States. The first property, 721 Wellness Way in Lawrenceville, is occupied by Northeast Endoscopy, which provides services including gastroenterology, imaging and family medicine. The asset is adjacent to Gwinnett Medical Center, which recently announced a merger to become Northside Hospital, and about 30 miles northeast of downtown Atlanta. The second property is situated at 7110 Newnan Crossing Bypass in Newnan, about 35 miles southwest of downtown Atlanta. The Newnan property is adjacent to Piedmont Newnan Hospital and is occupied by Avail Dermatology. Colliers International represented the seller, an affiliate of Pace Lynch Realty, in the transaction. Synovus Bank provided acquisition financing on behalf of the buyer. The sales prices were not disclosed.

March 26, 2019

Florida Loans Retail Southeast

Ready Capital Provides $8M Acquisition Loan for Vacant Retail Property in Miami

by Alex Tostado March 26, 2019

MIAMI — Ready Capital has provided an $8 million acquisition, renovation and lease-up loan for an 8,000-square-foot, vacant building in the Miami neighborhood of Wynwood. Ready Capital provided the nonrecourse, interest-only, floating-rate loan that features a 36-month term with two extension options, flexible prepayment and is inclusive of a facility to provide future funding for capital expenditures and tenant leasing costs. The undisclosed borrower will use the funds to redevelop the property into high-street storefronts with a food and beverage concept in the back.

March 26, 2019

Acquisitions California Florida Illinois Industrial Minnesota Top Stories Wisconsin

WPT Industrial REIT Acquires U.S. Logistics Portfolio for $226M

by John Nelson March 26, 2019

TORONTO — WPT Industrial Real Estate Investment Trust, a publicly traded company based in Toronto, has increased its U.S. holdings by agreeing to acquire a 13-property logistics portfolio for approximately US$226 million. The industrial buildings total 2.2 million square feet and are situated in infill submarkets across the United States. The property names and addresses were not disclosed, but WPT says the portfolio will increase its scale in Chicago, Milwaukee and Minneapolis. The portfolio also includes assets in three new markets for the REIT, including Los Angeles and Miami. Additionally, WPT has confirmed that eight of the assets are leased to a single tenant and the other five are leased to multiple tenants. “We are very pleased to source a high-quality portfolio acquisition that advances the REIT’s strategic priorities to add scale and diversification with a focus on markets and properties that have the greatest potential to drive long-term growth,” says Scott Frederiksen, CEO of WPT. WPT plans to fund the acquisition with cash on hand and proceeds from its senior unsecured credit facility. In anticipation of the purchase, WPT has received lender commitments to amend and extend the credit facility from US$300 million to $450 million. The REIT expects …

March 26, 2019

Acquisitions Industrial Mississippi Southeast

Sealy & Co. Acquires 1 MSF Distribution Building in Metro Memphis

by Alex Tostado March 25, 2019

OLIVE BRANCH, MISS. — Sealy & Co. has acquired a 1 million-square-foot distribution facility located at 7755 Polk Lane in Olive Branch, about 27 miles south of downtown Memphis and about 18 miles south of Memphis International Airport. The building is leased to Williams-Sonoma Inc. and is equipped with 66 loading docks, 36-foot clear heights and surface parking. Jason Gandy and Scott Sealy Jr. represented Sealy & Co. internally. Hank Martin of NAI Saig represented the seller, Tratt Properties, in the transaction. The sales price was not disclosed.

March 25, 2019

Acquisitions Florida Loans Multifamily Southeast

Berkadia Arranges $43.2M Sale of Apartment Complex in Tampa, Provides Freddie Mac Loan to Buyer

by Alex Tostado March 25, 2019

TAMPA, FLA. — Berkadia has arranged the $43.2 million sale of Allister Place, a 384-unit multifamily community in Tampa. Located at 4939 E. Busch Blvd., Allister Place was built in 1986 and offers amenities such as a clubhouse, business center, storage space, 24-hour fitness center, swimming pool and poolside cabanas. Cole Whitaker and Jason Stanton of Berkadia represented the seller, Aspen Square, in the transaction. The buyer is a joint venture between GMF Capital and The Michaelson Group. Berkadia’s South Florida team provided a 10-year, Freddie Mac acquisition loan to the buyer. The $34.6 million loan features a fixed interest rate and five years of interest-only payments followed by a 30-year amortization schedule.

March 25, 2019

Industrial Leasing Activity Southeast Virginia

Software Firm Leases 40,000 SF of Office Space for Headquarters in Downtown Charlottesville

by Alex Tostado March 25, 2019

CHARLOTTESVILLE, VA. — CoConstruct LLC, a construction software provider, has leased 40,000 square feet of office space at 3Twenty3 in downtown Charlottesville. CoConstruct will consolidate its two locations to form one headquarters. Insite Properties is developing 3Twenty3, a five-story, 120,000-square-foot office building located at 323 2nd St. SE that will be situated atop a four-story parking structure. Amenities will include a pedestrian plaza and walkway, common lobby gathering space, rooftop event and conference space, catering kitchen, patio, electric car charging stations and bike racks. A timeline for completion was not disclosed. John Pritzlaff of Cushman & Wakefield | Thalhimer represented the landlord in the lease transaction. Robin Amato of REIII Commercial Properties represented the tenant.

March 25, 2019

Acquisitions North Carolina Office Southeast

CBRE Brokers $17M Sale of Office Building in Charlotte

by Alex Tostado March 25, 2019

CHARLOTTE, N.C. — CBRE has brokered the $17 million sale of 4100 South Stream Blvd., a 125,265-square-foot, four-story office building that has housed AT&T’s Charlotte headquarters since 2015. The property is located about six miles from Charlotte-Douglas International Airport and downtown Charlotte. Patrick Gildea, Matt Smith and Grayson Hawkins of CBRE represented the seller, Inland Real Estate Group, in the transaction. Praelium Acquisitions bought the asset.

March 25, 2019

Acquisitions Multifamily South Carolina Southeast

Cushman & Wakefield Negotiates $15M Sale of Multifamily Community in Upstate South Carolina

by Alex Tostado March 25, 2019

TAYLORS, S.C. — Cushman & Wakefield has arranged the $15 million sale of The Chimneys of Greenville, a 168-unit multifamily community in Taylors. The buyer, Cohen Investment Group, is planning renovations to unit interiors, however, details of the renovations were not disclosed. Community amenities include a dog park, business center, fitness center, playground, swimming pool and a clubhouse. Jordan McCarley, Tai Cohen and Watson Bryant of Cushman & Wakefield represented the seller, Highgate Capital Group, in the transaction.

March 25, 2019

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