Southeast

U.S. Postal Service Renews 115,747 SF Office Lease in Metro D.C.

by Alex Tostado December 7, 2018

ROSSLYN, VA. — The U.S. Postal Service has renewed its lease at International Place in Rosslyn, where it has housed its Office of the Inspector General for 20 years. USPS is the lead tenant in the 12-story office building, renting 115,747 square feet. Anna Gardiner of JLL represented USPS, and Dave Millard, Peter Berk, Nick Gregorios and Carline Guidera of Avison Young represented the landlord, The Meridian Group, in the lease. International Place is located about three miles west of downtown Washington, D.C.

December 7, 2018

Hospitality Loans Southeast West Virginia

NorthMarq Arranges $8.2M Refinancing for Hotel in Huntington, West Virginia

by Alex Tostado December 7, 2018

HUNTINGTON, W.VA. — NorthMarq Capital has arranged $8.2 million in refinancing for Fairfield Inn & Suites in Huntington. The fixed-rate, non-recourse loan was structured with a 10-year term and a 20-year amortization schedule. The 106-room hotel features a picnic area, valet dry-cleaning and car rental services. Randy Waddell of NorthMarq arranged the loan on behalf of the borrower, H&W Management.

December 7, 2018

Acquisitions Multifamily North Carolina Southeast Student Housing

FourPoint Brokers Sale of 328-Bed Student Housing Community Near Wake Forest University

by Alex Tostado December 7, 2018

WINSTON-SALEM, N.C. — FourPoint Student Housing Investments has arranged the sale of Deacon Place, a 328-bed student housing community located near Wake Forest University in Winston-Salem. The property opened in 2017 and offers suite- and townhome-style units. Community amenities include a resort-style swimming pool, fitness center, study lounge and a putting green. Chris Epp, Chris Bancroft, Meredith Wolff and Craig Miller of FourPoint arranged the sale on behalf of the seller, Signet Real Estate Group. The buyer and terms of the transaction were not disclosed.

December 7, 2018

Acquisitions Florida Hospitality Southeast Top Stories

Trinity Investments, Elliott Management Acquire Grande Lakes Orlando Resort for $900M

by Kristin Harlow December 7, 2018

ORLANDO, FLA. — A joint venture between funds managed by Trinity Real Estate Investments LLC and Elliott Management Corp. has acquired the Grande Lakes Orlando Resort. Blackstone Group sold the property for $900 million, according to local media reports. The 409-acre development includes two hotels, a 582-room Ritz-Carlton and a 998-room JW Marriott. The resort also features an 18-hole golf course designed by Greg Norman, an Australian professional golfer and entrepreneur. The Grande Lakes Orlando Resort includes 278,000 square feet of indoor and outdoor meeting space, 15 food and beverage outlets, swimming pools, sporting facilities and a 40,000-square-foot spa. Since 2015, both hotels have undergone multi-million-dollar renovation projects. Trinity and Elliott plan to implement a multi-year capital improvement plan to further enhance the resort’s offerings. In addition to guestroom renovations, plans call for upgrades to the resort’s ballroom, meeting spaces, water features and food offerings. The buyers are hoping to capitalize on Orlando’s booming tourism industry. In 2017, Orlando set a record and became the first ever U.S. destination to surpass 70 million visitors in a year, according to the city’s tourism association, Visit Orlando. Honolulu-based Trinity is a private real estate investment firm that has completed more than $4 …

December 7, 2018

Development Florida Industrial Southeast

Three Developers to Build 617,046 SF Spec Distribution Center in Central Florida

by Alex Tostado December 6, 2018

OCALA, FLA. — Red Rock Developments, Westport Capital Partners LLC and Wharton Industrial will build Florida Crossroads Logistics Center, a 617,046-square-foot speculative distribution center in Ocala. The 46-acre site is located about 35 miles south of Gainesville, and is situated approximately one hour from Tampa and Orlando, two hours from Jacksonville and four hours from Miami, allowing the facility to potentially service 14 million people with same-day deliveries. Deborah Mickler and David Wilson of Colliers International are listing the property, which is slated to open in the fourth quarter of 2019.

December 6, 2018

Acquisitions Florida Multifamily Southeast

Praedium Group Acquires Apartment Community in Jacksonville for $46.7M

by Alex Tostado December 6, 2018

JACKSONVILLE, FLA. — The Praedium Group has purchased The Point at Town Center, an apartment community in Jacksonville comprising eight three-story buildings offering one- and two-bedroom floor plans. The Praedium Group bought the property from Block One Ventures for $46.7 million, according to Jacksonville Business Journal. Block One delivered the property earlier this year. Amenities at The Point include a dog park with wash station, yoga lawn, pool and package concierge.

December 6, 2018

Arkansas Loans Multifamily Southeast

Berkadia Arranges $13M Loan to Refinance North Little Rock Apartment Complex

by Alex Tostado December 6, 2018

NORTH LITTLE ROCK, ARK. — Berkadia has arranged $13 million in refinancing to borrower Salter Properties for Argenta Flats, a 160-unit apartment community located at 123 W. 7th St. in North Little Rock. New York-based Benefit Street Partners provided the loan. Charles Foschini, Christopher Apone and Patrick Jordan of Berkadia arranged the loan on behalf of the borrower. The loan comprises a first mortgage and mezzanine debt and features a 10-year term with two years interest-only. Argenta Flats offers one- and two-bedroom apartments with amenities such as a fitness room, wine room, book exchange room, business center and a pool.

December 6, 2018

Georgia Industrial Leasing Activity Southeast

Ackerman & Co. Signs Logistics Firm to 100,800 SF Industrial Lease in Metro Atlanta

by Alex Tostado December 6, 2018

STONE MOUNTAIN, GA. — Ackerman & Co. has leased 100,800 square feet of space to Best Warehousing & Transportation Center Inc. (BWT) at Stone Mountain Industrial Park, located about 16 miles from downtown Atlanta. The industrial park is now 94 percent leased. Atlanta-based Ackerman & Co. was represented internally by Brett Buckner, Jimmy Stevens and Major Martin. The tenant also represented itself in the lease transaction. BWT specializes in inspecting, repairing and repackaging products that have been returned from retail reclaim centers.

December 6, 2018

Loans Louisiana Office Southeast

Money360 Arranges $5.1M Refinance Loan for Office Building in New Orleans

by Alex Tostado December 6, 2018

NEW ORLEANS — Money360 has arranged a $5.1 million refinance loan for Executive Plaza Office Building, located at 10001 Lake Forest Blvd. in New Orleans. The 36-month, non-recourse loan was arranged for an undisclosed borrower. The building spans 114,615 rentable square feet.

December 6, 2018

Development North Carolina Office Southeast

Honeywell to Move Global Headquarters from New Jersey to Charlotte

by Alex Tostado December 5, 2018

CHARLOTTE, N.C. — Honeywell is set to relocate its global headquarters from Morris Plains, N.J., to Charlotte. The company will also move its Safety and Productivity Solutions headquarters from Fort Mill, S.C., to Charlotte. The Fortune 100 technology company plans to move 150 to 200 jobs from New Jersey to Charlotte and about 100 from South Carolina between now and September. The company also plans to add 500 corporate jobs before 2024. The move comes as part of the recently passed North Carolina Job Development Investment Grant that awards state and local incentives to companies. The News & Observer reports that the State of North Carolina will give Honeywell an incentive package of $42.5 million for the relocation. Honeywell specializes in industry specific solutions that include aerospace products and services, control technologies for buildings and industry and performance materials globally.

December 5, 2018

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