Southeast

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.

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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.

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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.

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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.

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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.

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ATLANTA — Ackerman Retail, the retail division of Atlanta-based Ackerman & Co., has brokered the sale of two retail buildings in the Atlanta’s Buckhead district. The sold portfolio includes a 27,000-square-foot property fully leased to Maggiano’s Little Italy that sold for $12.7 million and a 3,796-square-foot property fully leased to Wells Fargo Bank that sold for $10.3 million. Level 33 Capital, a private investment company bought both properties. Kevin Hermetz and Jimmy Stevens of Ackerman & Co. represented the undisclosed seller in the Maggiano’s transaction, and Sean Patrick and Stephen Lapierre, also of Ackerman & Co., represented the same undisclosed seller in the Wells Fargo transaction.

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FREDERICK, MD. — St. John Properties has broken ground on three buildings within Arcadia Business Park in Frederick, about 50 miles west of Baltimore. The buildings will total 200,000 square feet when complete and represent Phase I of construction at the 61-acre industrial campus. Arcadia Business Park will total 600,000 square feet across eight buildings at full buildout. Phase I is expected to deliver in the summer.

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ATLANTA — S.J. Collins Enterprises, developer of The Interlock mixed-use project, has signed WeWork as the newest tenant of the $450 million development. This will be WeWork’s sixth Atlanta location with anticipated occupancy in fall 2020. The office, dubbed WeWork Interlock, will be situated at the corner of Howell Mill Road and 14th Street in West Midtown, spanning three stories and 118,000 square feet. WeWork provides more than 320,000 members around the world with office space, community and services through both physical and digital offerings. When complete, The Interlock will offer 200,000 square feet of loft office space, 105,000 square feet of retail space, 350 apartment units, 70 single-family homes and a 145-key Marriott Tribute Portfolio hotel. Tenants previously announced include Slater Hospitality, St. Germain French Bakery and Georgia Technology Ventures. The Interlock is slated to open summer 2020.

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FRANKLIN, TENN. — Mosby Cool Springs, a 328-unit apartment community in Franklin, is now open. The developer, Middleburg, manages the property. The development team includes architect of record and interior designer Humphreys & Partners, landscape architect Gamble Design Collaborative and civil engineer Kimley-Horn. Situated about 20 miles south of Nashville in the metro’s Cool Springs district, Mosby Cool Springs’ floor plans include studio, one- and two-bedroom options. Amenities include a fitness center; clubhouse with game room, event space, study and conference rooms, and a coffee bar; swimming pool and plunge pool; on-call massage therapist; dog park and spa; car care center; and package acceptance with locker system.

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