FORT LAUDERDALE, FLA. — Wood Partners has opened Bask, an apartment community located near Port Everglades at 1919 S.E. 10th Ave. in Fort Lauderdale. Bask is an eight-story, 310-unit complex featuring one- and two-bedroom floor plans. Amenities include a community demonstration kitchen, office space, fitness room, yoga room, pet spa and outdoor TV lounge.
BIRMINGHAM, ALA. — Easterly Government Properties Inc., a real estate investment trust focused on the acquisition, development and management of Class A commercial properties leased to the U.S. government, has acquired the 83,676-square foot U.S. Department of the Treasury facility in Birmingham. Known as TREAS-Birmingham, the property is a three-story, Class A build-to-suit facility that was constructed in 2014. The building is 100 percent leased to the Treasury on an initial 15-year, non-cancelable term expiring in December 2029. The sales price and seller were not disclosed.
SANFORD, FLA. — Newmark Knight Frank Multifamily (NKF) has brokered the $45.7 million sale of Solara, a multifamily community in Sanford, about 20 miles north of Orlando. Scott Ramey, Kevin Judd and Patrick Dufour of NKF represented the seller, a multifamily investment company based in Montgomery, Ala. The buyer was Tampa- and Boston- based Robbins Property Associates. The 272-unit Solara was built in 2014 and features amenities such as a saltwater pool, lounge areas and a club lounge, featuring a billiards table and full bar with catering kitchen.
SARALAND, ALA. — Hampton Inn & Suites has opened a new 100-room, $15.5 million hotel in Saraland. Located about 12 miles north of Mobile, the hotel is Hampton’s first new prototype in a decade. Guestrooms have been redesigned to feature larger windows and bathrooms with improved lighting, décor and bath fixtures. Other amenities include 900 square feet of meeting space, a board room, complimentary breakfast, pool, fitness center and a business center. The business employs more than 18 full-time workers and will eventually employ 30 full- and part-time workers.
CHARLOTTE, N.C. — Dallas-based Lantower Residential has acquired Lantower Waverly, a 375-unit apartment community in Charlotte’s Ballantyne neighborhood. Charlotte Business Journal reports that the property sold for more than $84 million. The complex is located about 13 miles south of downtown Charlotte, and amenities include a saltwater pool, fitness center, dog park, electric car charging stations and a media center/movie theater. The seller was undisclosed.
MEMPHIS, TENN. — Money360 has provided a $4.7 million bridge loan to an undisclosed borrower for the Winbranch Apartments in Memphis. The 24-month, non-recourse refinance loan was structured with an 8.5 percent interest rate. Amenities at Winbranch include a swimming pool, tennis court, playground and a clubhouse.
BOCA RATON, FLA. — Crocker Partners has unveiled plans to develop Restaurant Row, a 22,500-square-foot property that would feature four 5,000-square-foot restaurants with patios and the potential for an additional 2,500-square-foot outpost. Aaron Gentry of tvsdesign is the architect of the only exclusive restaurant complex ever built in Boca Raton. Crocker Partners presented its vision to the City of Boca Raton’s Community Appearance Board on Nov. 27. The property would be located at the site of The Plaza office building, which Crocker Partners reacquired in 2014.
The question today for office tenants and investors is not why Raleigh-Durham, but why not. The Raleigh-Durham market is defined by continued job growth and a thriving technology sector. The Triangle is enjoying significant rent growth, strong absorption and major construction that now has a Downtown Raleigh and a Downtown Durham. Raleigh-Durham’s overall growth continues and was recently ranked No. 1 in the Southeast in projected population growth, posting a 10.3 percent growth rate from 2017 to 2022. This figure is nearly double the 5.5 percent average growth rate for Southeastern cities. Job growth is the primary driver of the region’s expanding presence with over 30,000 jobs added in 2018 through the first half of the year, already surpassing the 24,000 jobs added in all of 2017. Over the last year, we have seen Infosys (2,000), Credit Suisse (1,200), LabCorp (400) and Ipreo (250) announce major job additions to the area. Most recently, Amazon announced 1,500 jobs that will be required for its new fulfillment center. The tech sector is a major contributor to those jobs, and there is a lot of talk about a well-known e-commerce giant and a major technology giant bringing a significant presence to our market. …
CARY, N.C. — Hudson Capital Properties has acquired Cornerstone, a 302-unit apartment community in Cary, for $55 million. Hudson Capital plans to renovate all 302 studio- and townhome-style units and improve the property’s amenity offerings. Cornerstone is located about 17 miles west of Raleigh and about 16 miles south of Durham. The seller was undisclosed.
GARNER, N.C. — Artesia Real Estate has sold Greenbrier, a 223-unit apartment complex in Garner, to EBEX Holdings and FriedLam Partners for $19.6 million. Greenbrier, located about six miles south of Raleigh, offers studio, one- and two-bedroom floor plans. Amenities include a pool, playground and extra storage. Watson Bryant, Paul Marley and Brooks Colquitt of Cushman & Wakefield represented the seller.
