Southeast

Ollie’s Bargain Outlet Celebrates Opening of 300th Store Near Baltimore

by John Nelson November 16, 2018

GLEN BURNIE, MD. — Ollie’s Bargain Outlet Holdings Inc. has opened a new store in Glen Burnie to mark its 300th location. The new store is located about 10 miles south of downtown Baltimore in a former Toys “R” Us. The Harrisburg, Pa.-based company opened its first store 36 years ago in Mechanicsburg, Pa., and now has stores in 23 states. The milestone location was opened on the same day as several other Ollie’s Bargain Outlet stores, bringing the company’s total to 303. Ollie’s Bargain Outlet is one of America’s largest retailers of closeout merchandise and excess inventory, including books, groceries and household items.

November 16, 2018

Civic Development Mixed-Use Southeast Student Housing Virginia

StonebridgeCarras to Develop Virginia Tech’s $1B Campus in Alexandria, Near Amazon Headquarters

by John Nelson November 15, 2018

ALEXANDRIA, VA. — StonebridgeCarras has been selected to build the Virginia Tech Innovation Campus, a $1 billion, 1 million-square-foot, technology-focused campus in Alexandria, less than two miles from Amazon’s HQ2 future site. Virginia Tech and the State of Virginia will each put forth $250 million to the new campus. Further funds are expected to come via private philanthropy, industry partnerships and other revenue streams. The new campus will be situated in River Landing, a newly branded neighborhood encompassing parts of Pentagon City and Crystal City in Arlington and Potomac Yard in nearby Alexandria. The land is owned by investment firm Blackstone Group LP. The campus will include 300,000 square feet of academic space and research and development facilities, 250,000 square feet of partner space dedicated to startups and corporate facilities, 350,000 square feet of housing space for students and faculty and 100,000 square feet of retail and support spaces. An expected date of completion was not disclosed, but Virginia Tech officials say the first 100 master’s program students will enroll next year in a temporary space. The school also announced Bethesda, Md.-based StonebridgeCarras and the City of Alexandria have agreed to expedite construction.

November 15, 2018

Development Georgia Mixed-Use Multifamily Retail Southeast

EDENS, Crescent Break Ground on Retail, Residential Development in Atlanta’s Upper Westside

by John Nelson November 15, 2018

ATLANTA — EDENS and Crescent Communities have broken ground on Phase II of Moores Mill, a mixed-use development in Atlanta’s Upper Westside neighborhood. Charlotte-based Crescent Communities, a multifamily developer, will build 345 units across three buildings over five acres called NOVEL Upper Westside. The complex will total 300,000 square feet and offer one- , two- and three-bedroom options. Amenities are set to include a fitness center, pool, courtyard, refined rooftop lounge and a dog park. EDENS, a national retail real estate owner, will develop 15,000 square feet of retail. The Columbia, S.C.-based developer built the 45,000-square-foot Publix in Phase I of Moores Mill and has invested in green space renovation at nearby Sara Gonzalez Park. Completion of Phase II is expected in 2020.

November 15, 2018

Development Florida Multifamily Southeast Student Housing

Bainbridge, Diamond Realty to Develop 492-Bed Student Housing Community Near University of Florida

by John Nelson November 15, 2018

GAINESVILLE, FLA. — The Bainbridge Cos. has acquired an 11-acre site in Gainesville located near the University of Florida for the development of a 492-bed student housing community. The property — to be named Campus Circle Gainesville — will be developed in a joint venture with Diamond Realty Investments Inc. The four-story, garden-style community will offer shared amenities including an outdoor lounge and study area; resort-style courtyards; swimming pool with private cabanas; 24-hour fitness center with a cardio theater and yoga studio; clubhouse featuring lounge space and a game room; 24-hour private study space with group study areas and a large conference room; and dog-walking trails. The property is set to open prior to the 2020-2021 academic year.

November 15, 2018

Development Retail South Carolina Southeast

Nexton, RealtyLink Announce 22 Restaurants, Stores Coming to Shopping Center Near Charleston

by John Nelson November 15, 2018

SUMMERVILLE, S.C. — Nexton and RealtyLink Commercial have announced a list of 22 tenants that will occupy Nexton Square, a shopping center in Summerville that is set to open this summer. The vendors include Tropical Smoothie Café, The Bicycle Shoppe and Fuji Sushi, as well as other restaurants, apparel, beauty, fitness, entertainment and finance tenants. The first buildings are scheduled to be available to tenants for up-fit later this year. Nexton Square will be located in Summerville’s Nexton master-planned community, which is located about 25 miles northwest of downtown Charleston. The design team includes architect McMilan Padzen Smith Architects, civil engineer and landscape architect Seamon Whiteside, construction manager Landmark Construction and general contractor Ordner Construction.

November 15, 2018

Company News Florida Southeast

Colliers International Acquires South Florida Brokerage Firm CREC

by John Nelson November 15, 2018

CORAL GABLES, FLA. — Colliers International has acquired Coral Gables-based Continental Real Estate Cos. Commercial Properties Corp. (CREC) and its portfolio of more than 12.6 million square feet of office, industrial and retail space; and more than 100 employees across three offices in Florida. Terms of the deal were not disclosed. Warren Weiser and Carol Greenberg Brooks founded CREC in 1989. “We are thrilled to join Colliers and be part of a team that is aligned with our entrepreneurial culture and focus on service excellence. We are now ideally positioned to accelerate our growth in the Florida market by leveraging the Colliers global brand, infrastructure and relationships,” says Greenberg Brooks. This is Colliers’ fifth acquisition in the U.S. this year, says Dylan Taylor, president and chief operating officer of Colliers.

November 15, 2018

Georgia Loans Mixed-Use Southeast

HFF Arranges $278.4M Loan for Colony Square Redevelopment in Atlanta

by Alex Tostado November 14, 2018

ATLANTA — HFF has arranged $278.4 million in financing for the redevelopment of Colony Square, an office/retail complex in Midtown Atlanta. The loan will go to Houston-based Lionstone Investments and Cincinnati-based North American Properties for the project, which is already underway. The loan will retire the existing financing and fund future redevelopment plans. Blackstone Mortgage Trust provided the capital. The new Colony Square will feature more 1 million square feet of office and retail space. It will also feature iPic, a movie theater with nine auditoriums and farm-to-glass cocktails. Anticipated completion is late 2020.

November 14, 2018

Alabama Office Southeast

VCP City Center Acquires 691,777 SF Office Building in Downtown Birmingham for $31M

by Alex Tostado November 14, 2018

BIRMINGHAM, ALA. — VCP City Center, which is managed by Varden Capital Properties and Tellus Multifamily, has acquired City Center, a 691,777-square-foot, vacant office building in downtown Birmingham. Cushman & Wakefield represented the undisclosed seller in the $31 million sale.

November 14, 2018

Development Georgia Industrial Southeast

Lincoln Property, Crow Holdings Break Ground on 251,466 SF Warehouse in Metro Atlanta

by Alex Tostado November 14, 2018

LITHIA SPRINGS, GA. — Lincoln Property Co. Southeast and Crow Holdings Capital Real Estate have broken ground on a 251,466-square-foot speculative warehouse/distribution center called Factory Shoals Distribution Center in Lithia Springs. The site is located on Interstate 20, 15 miles west of downtown Atlanta. The center will feature a 185-foot deep truck court, 40 spaces for excess truck storage, 32-foot clear heights and motion-sensor lighting. The project is slated to be finished in summer 2019.

November 14, 2018

Development Multifamily Southeast Virginia

CPDC Breaks Ground on Adjacent Multifamily Buildings in Richmond’s Jackson Ward

by Alex Tostado November 14, 2018

RICHMOND, VA. — Community Preservation and Development Corp. (CPDC) has broken ground on two adjacent apartment buildings in Jackson Ward district of Richmond. One of the apartment buildings will include 82 units, 46 of which will be at market price. The other will be a 72-unit affordable community for seniors moving in from Richmond’s Fay Towers. The Richmond Times-Dispatchreported in July that the project would cost $33 million. Amenities are set to include a fitness center, dog-grooming room, media room, and outdoor patio and grill area. S.L. Nusbaum realty will manage the property, which is expected to begin leasing in October 2019.

November 14, 2018

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