Tennessee

Regal Entertainment Group Knoxville One Riverwalk

Southeastern Development Relocates Regal’s Headquarters to Knoxville

by John Nelson November 11, 2015

KNOXVILLE, TENN. — Southeastern Development Associates has signed Regal Entertainment Group to a lease that relocates its world corporate headquarters to downtown Knoxville. The company is the world’s largest theater chain with nearly 7,500 screens. Regal will occupy a nine-story, 178,000-square-foot office building located on the Tennessee River in Southeastern Development’s One Riverwalk mixed-use development. Upon completion, One Riverwalk will feature 300 luxury apartment communities, student housing, office space, a hotel, retail shopping, restaurants, a riverwalk esplanade, parks and an entertainment plaza. Regal is expected to bring approximately 400 employees with the relocation. Southeastern Development Associates, formerly known as Blanchard & Calhoun Commercial, partnered with Tennessee Governor Bill Haslam, the city of Knoxville, Knoxville Mayor Tim Burchett and the Tennessee Valley Authority. Tommy Saul, Rhodes Seeger and Chris Senn represented Southeastern Development Associates internally in the transaction.

November 11, 2015

Retail Southeast Tennessee

Matthews Retail Advisors Brokers Sale of Walmart in Knoxville

by John Nelson November 11, 2015

KNOXVILLE, TENN. — Matthews Retail Advisors has brokered the sale of a newly constructed, 119,378-square-foot Walmart in Knoxville. The trophy asset is located across the street from the University of Tennessee campus. The seller, CHM LLC, sold the asset for an undisclosed price in an off-market transaction. Aron Cline of Matthews Retail Advisors sourced the buyer and represented CHM in the transaction.

November 11, 2015

Affordable Housing Loans Multifamily Southeast Tennessee

Greystone Closes $88.6M Affordable Housing Financing in Tennessee

by John Nelson November 10, 2015

NEW YORK — Greystone has closed an $88.6 million multifamily transaction for the acquisition and rehabilitation of 20 aged apartment communities totaling 793 residences in Tennessee. Greystone arranged the transaction on behalf of the owner and operator, The Hallmark Cos. Inc. Greystone worked closely with the Tennessee Housing Development Agency, as well as the USDA’s Rural Housing Service National Office and Tennessee State Office. The financing, which combined both public and private funding, included $28 million in tax-exempt bonds issued by The Health, Educational and Housing Facilities Board of Sevier County, Tennessee. Stifel, Nicolaus & Co. Inc. facilitated the bond issuance. Other capital sources included more than $16 million of Low Income Housing Tax Credits, the assumption of $21.8 million of original USDA Section 515 debt, $21.9 million of senior debt and $830,000 in additional funds.

November 10, 2015

Industrial Southeast Tennessee

Cushman & Wakefield Arranges 800,000 SF Industrial Lease in Memphis

by John Nelson November 10, 2015

MEMPHIS, TENN. — Cushman & Wakefield arranges 800,000-square-foot industrial lease at Memphis Oaks 3 located at 3860 E. Holmes Road in Memphis. The new lease brings the property to 100 percent occupancy. Patrick Walton and Kemp Conrad of Cushman & Wakefield/Commercial Advisors represented the landlord, Panattoni Development Co., in the lease transaction. Michael Reid and Tim O’Callaghan of Binswanger represented the tenant, an unnamed Fortune 500 retail company. The new tenant will occupy 500,000 square feet that Sharp Electronics will vacate at the end of the year. The remaining 300,000 square feet is currently vacant. In addition to the new tenant, General Electric leases 225,000 square feet at Memphis Oaks 3.

November 10, 2015

Multifamily Southeast Tennessee

Berkshire Group Acquires 153-Unit Apartment Complex in Nashville

by Christina Cannon November 6, 2015

NASHVILLE, TENN. — An affiliate of Berkshire Group has acquired a 153-unit apartment complex in Nashville. Artisan on 18th is a Class A community that was purchased for an undisclosed price. The complex is located in the Music Row neighborhood and is close to Vanderbilt University, the Medical District, the Tennessee State Museum, Bridgestone Arena and Honkey Tonk Row. The asset is a five-story, wood-frame building. Community amenities include two outdoor courtyards, grills, fire pits, a resident lounge, business center, television room, fitness center and bike storage. Stonehenge Real Estate Group developed and sold the property. Berkshire Communities will manage the property.

November 6, 2015

Industrial Southeast Tennessee

C&W Brokers 316,666 SF Distribution Lease for DYK Automotive in Memphis

by Haisten Willis November 2, 2015

MEMPHIS, TENN. — Cushman & Wakefield has brokered a lease renewal and expansion for DYK Automotive’s distribution operations at 4500 Malone Road in Memphis. The 316,666-square-foot transaction represents an increase in Class A industrial activity in the regional market. DYK Automotive, a national aftermarket automobile parts and accessories distributor, initially leased 150,000 square feet at 4500 Malone Road. An operating unit of Dobbs Management Service, the company provides branded and private label packaged oil, chemicals, parts and accessories to various customer channels and markets. Its divisions include AP Auto, Keltner Enterprises and Superior Automotive, each with more than 50 years of operating history. Kemp Conrad of Cushman & Wakefield orchestrated DYK Automotive’s renewal/expansion. Tim Mashburn of Colliers International represented the property owner.

November 2, 2015

Industrial Southeast Tennessee

NAI Knoxville Brokers $10M Sale of 334,024 SF Industrial Property in Tennessee

by John Nelson October 23, 2015

LOUDON, TENN. — NAI Knoxville has arranged the sale of a 334,024-square-foot industrial property situated on a 108-acre lot at 9600 Corporate Park Drive in Loudon. Morgan Olson LLC, a walk-in van body manufacturer, purchased the asset from Astec Underground Inc. for $10 million, according to media outlets. Morgan Olson plans to bring more than 400 jobs to the facility. James Roberson of NAI Knoxville, along with Bryan Rudisill of NAI Charter, brokered the transaction.

October 23, 2015

Mixed-Use Southeast Tennessee

Doster Construction Completes Mixed-Use Development in Metro Nashville

by John Nelson October 21, 2015

BRENTWOOD, TENN. — Birmingham, Ala.-based Doster Construction Co. has completed construction on Tapestry at Brentwood Town Center, a mixed-use development located in the Nashville suburb of Brentwood. The property comprises two four-story buildings spanning 393 units. In addition to the property’s retail space, the project’s amenities include two courtyards with a pool, a zen garden space with four outdoor kitchens, sports lounge, demonstration kitchen, billiard table, large clubhouse with terrace deck, conference room, leasing office area, retail space and a “fitness bridge” that features a yoga room and gym with workout equipment. The fitness bridge spans the two buildings and the paved entrance to the property that accesses the two parking decks wrapped by each building. The retail space at Tapestry is soon to be filled with a restaurant, and the areas surrounding Tapestry include Brentwood Place Shopping Center that features a Nordstrom Rack and Kroger. Northwestern Mutual Life Insurance Co. is the project’s owner, Bristol Development is the developer and Fugleberg Koch Architects is the architect.

October 21, 2015

Loans Multifamily Southeast Tennessee

Walker & Dunlop Closes $17.7M Loan for Apartment Community in Tennessee

by John Nelson October 20, 2015

LENOIR CITY, TENN. — Walker & Dunlop Inc. has closed a $17.7 million loan for The Cove at Creekwood Park, a 208-unit apartment complex located in Lenoir, roughly 30 minutes outside of Knoxville. Built in 2011, the apartment property comprises one-, two- and three-bedroom units that feature keyless door entry systems, fully equipped kitchens with stainless steel appliances, plank flooring, walk-in closets and full-sized washers and dryers. Common area amenities include gated access, a picnic/play area, walking trail, pavilion, business center with a cyber café, fitness center, saltwater swimming pool and an outdoor cooking station. Keith Melton and David Strange of Walker & Dunlop arranged the 39-year, fixed-rate loan using HUD’s Interest Rate Reduction program.

October 20, 2015

Industrial Southeast Tennessee

Marcus & Millichap Brokers $21.2M Sale of Coca-Cola Warehouse Portfolio in Chattanooga

by John Nelson October 19, 2015

CHATTANOOGA, TENN. — Marcus & Millichap has brokered the $21.2 million sale of a Coca-Cola industrial warehouse portfolio comprising three properties in Chattanooga. The three buildings span roughly 645,000 square feet and are leased by Coca-Cola Refreshments, a wholly owned subsidiary of The Coca-Cola Co. Coca-Cola Refreshments recently leased the properties for five-year terms with the option to renew for additional five-year terms. Sam Hanna of Marcus & Millichap’s San Diego office, along with Anne Williams of the firm’s Memphis office, brokered the transaction. Williams is Marcus & Millichap’s broker of record in Tennessee. The unnamed buyer is a publicly traded REIT.

October 19, 2015

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