Southeast

Chesterfield Underway on $100M Industrial Project Near Port of Savannah

by Camren Skelton July 31, 2018

SAVANNAH, GA. — Jacksonville, Fla.-based Chesterfield is underway on a three-building, 1.8 million-square-foot industrial project at the Savannah River International Trade Park, located less than six miles from the Port of Savannah. The Georgia Ports Authority selected Chesterfield to develop the site in late 2017. The total development cost is valued at $100 million. The project includes Lot A, a 1.3 million-square-foot facility for JLA Home, a designer, manufacturer and supplier of home furnishings; Lot B, a warehouse under construction for Averitt Express, a supply chain management company; and Lot C, a 420,000-square-foot speculative, cross-dock facility. Stonemont Financial Group is Chesterfield’s capital partner for the project, which is scheduled for completion in March 2019. Thomas & Hutton is the civil engineer for the entire site. For Lots A and C, Wakefield Beasley Architects is the architect, and Omega Construction is the general contractor.

July 31, 2018

Loans Multifamily North Carolina Southeast

Canyon Provides $16.9M Equity Investment for New Multifamily Construction in Raleigh

by Camren Skelton July 31, 2018

RALEIGH, N.C. — Canyon Partners Real Estate LLC has provided a $16.9 million preferred equity investment to Kane Realty Corp. for the development of Vine North Hills, a 326-unit apartment community in Raleigh’s North Hills submarket. Located on four acres along St. Albans Drive, Vine North Hills is the first phase of the 33-acre, multi-phased North Hills East Expansion. The community will feature a mix of studio to three-bedroom apartment units with quartz countertops, stainless steel appliances, glass walk-in showers and private balconies. Community amenities will include a clubhouse with hospitality kitchen, lounge and game rooms, fitness center, saltwater pool, grills, fire pits, dog washing facility, a bike center and storage units. A construction timeline was not disclosed.

July 31, 2018

Acquisitions Florida Healthcare Southeast

Cushman & Wakefield Arranges $11.5M Sale of Medical Office Building in Broward County

by Camren Skelton July 31, 2018

HOLLYWOOD, FLA. — Cushman & Wakefield has arranged the $11.5 million sale of Hollywood Medical Office Building, a 57,815-square-foot facility located on the Memorial Regional Hospital South campus in Hollywood. Scott O’Donnell, Greg Miller, Dominic Montazemi, Miguel Alcivar, Jason Hochman and Donna Kom of Cushman & Wakefield arranged the transaction on behalf of the seller, Miami-based SF Partners. A private real estate investor acquired the asset. The five-story building was constructed in 1975 and was 84 percent leased at the time of sale to tenants such as Oncology Associates of South Florida, Pinnacle Healthcare System, Reyes & Reyes MD, Internal Medicine Specialty and HealthCare Support Administrators.

July 31, 2018

Acquisitions Georgia Office Southeast

Accesso Partners Sells 150,000 SF Office Building Leased to IBM in Metro Atlanta

by Camren Skelton July 31, 2018

SMYRNA, GA. — Accesso Partners LLC has sold 7100 Highlands Parkway, a 150,000-square-foot office building in Smyrna, roughly 14 miles northwest of downtown Atlanta. Exeter Property Group acquired the asset for an undisclosed price. Completed in 1997, the single-story building was designed for IBM Corp. as its Atlanta call center. The technology company still occupies the building as its sole tenant. Jay O’Meara of CBRE arranged the transaction on behalf of Accesso.

July 31, 2018

Development Georgia Loans Maryland Mixed-Use Southeast Top Stories

Armada Hoffler Announces Two Mixed-Use Developments in Baltimore, Atlanta

by John Nelson July 31, 2018

BALTIMORE AND ATLANTA — Armada Hoffler Properties Inc. (NYSE: AHH), a commercial real estate developer and investor based in Virginia Beach, is participating in two new mixed-use projects in Baltimore and Atlanta. The REIT’s wholly owned subsidiary, Armada Hoffler Construction Co., will serve as general contractor for both developments. In Baltimore’s Inner Harbor East district, Armada Hoffler is developing Wills Wharf, a 12-story mixed-use building that will anchor the 27-acre Harbor Point development. Armada Hoffler co-developed the other components of Harbor Point with Beatty Development Group, including the 500,000-square-foot Exelon mixed-use tower, the 260,000-square-foot Thames Street Wharf office building and Point Street Apartments. Situated on the waterfront of the Inner Harbor, the $117 million Wills Wharf project will span 325,000 square feet of office and retail space and will feature a 156-room Canopy by Hilton hotel on the top four floors. Armada Hoffler expects to deliver the building in the first quarter of 2020. “Wills Wharf represents the latest evolution of a relationship with the principals of Beatty Development Group that has spanned over two decades,” says Louis Haddad, president and CEO of Armada Hoffler Properties. “We are excited to continue our relationship with Beatty Development Group in leading Baltimore’s …

July 31, 2018

Acquisitions Florida Industrial Southeast

HFF Arranges $180M Sale of 1 MSF Industrial Portfolio Near Miami

by Camren Skelton July 30, 2018

HIALEAH, FLA. — HFF has arranged the sale of three industrial buildings totaling approximately 1 million square feet within Hialeah’s Countyline Corporate Park. Luis Castillo, Adam Herrin, Manny de Zárraga, Rusty Tamlyn, Coleman Benedict and Tracey Goo of HFF arranged the transaction on behalf of the seller and developer, Flagler Global Logistics, a wholly owned subsidiary of Florida East Coast Industries LLC. Duke Realty Corp. acquired the assets for $180 million, according to local media reports. At full build-out, Countyline Corporate Park will include 8 million square feet of space on approximately 500 acres. The three buildings were fully leased at the time of sale to KLX Aerospace, CGI Windows & Doors and Hyde Shipping, among others.

July 30, 2018

Development Georgia Loans Mixed-Use Multifamily Southeast

Allen Morris Receives $90M Loan for Residential Component of Mixed-Use Project in Atlanta’s West Midtown District

by Camren Skelton July 30, 2018

ATLANTA — The Allen Morris Co. has received a $90 million construction loan for Star Metals Residences, the residential component of Star Metals Atlanta, the company’s planned mixed-use community in Atlanta’s West Midtown district. Square Mile Capital Management LLC and Pacific Western Bank provided the loan for the 409-unit community, which will also feature 16,300 square feet of ground-floor retail. Located at 1050 Howell Mill Road, Star Metals Residences will feature a private outdoor dog run, interior dog wash area, Uber drop-off room for residents, package delivery to the resident’s door and a library with fireplace. The rooftop area will feature lounge/meeting rooms; a bar and lounge; game room area with a pool table; gaming systems and arcade games; outdoor ping-pong and bocce ball; a glass-box fitness center; swimming pool; grilling area; movie projection area and fire pits. At full build-out, Star Metals Atlanta will also include a 14-story office tower with 35,000 square feet of retail and restaurants. Construction has begun on the residential portion of the project, which is scheduled for a spring 2020 completion. Oppenheim Architecture, Dwell Design Studio and Square Feet Studio are designing the community, and Juneau Construction is the general contractor. Brasfield & Gorrie …

July 30, 2018

Acquisitions Multifamily North Carolina Southeast

Cushman & Wakefield Brokers $33.1M Sale of Multifamily Community in Metro Charlotte

by Camren Skelton July 30, 2018

MOORESVILLE, N.C. — Cushman & Wakefield has brokered the $33.1 million sale of Fountains at Mooresville Town Square, a 227-unit apartment community in Mooresville, a suburb roughly 33 miles north of Charlotte. Jordan McCarley, Marc Robinson and Watson Bryant of Cushman & Wakefield arranged the transaction on behalf of the undisclosed seller. RST Development acquired the property. Constructed in 2012, The Fountains at Mooresville Town Square is located within Mooresville Town Square, a 122,000-square-foot mixed-use development. The community features a saltwater pool, fitness center, demonstration kitchen, billiards room and a fenced-in dog park.

July 30, 2018

District of Columbia Leasing Activity Mixed-Use Office Southeast

Madison Marquette Relocates 26,000 SF Headquarters to The Wharf Mixed-Use Project in D.C.

by Camren Skelton July 30, 2018

WASHINGTON, D.C. — The recently merged operation of Madison Marquette and PMRG has moved its headquarters to 1000 Maine, the trophy office building of The Wharf. Madison Marquette, which is co-developing the 2.2 million-square-foot, waterfront mixed-use project, merged operations with PMRG in June. The combined company will occupy 26,000 square feet at 1000 Maine, which features a soaring lobby and waterside atrium, fitness facility overlooking the water and a 10,000-square-foot rooftop conference center and patio space with views of the Potomac River. Capital Guidance, parent company of Madison Marquette and PMRG, will share the new space for its global headquarters. Additional tenants at 1000 Maine include the D.C. office of Fish & Richardson, Washington Gas and its parent energy company WGL, Socially Determined and the law offices of Michael Best & Friedrich LLP. The office building is part of The Wharf’s first phase of development, which includes a concert hall, three hotels, two multifamily and condominium buildings and 210,000 square feet of restaurants, retail and entertainment space. Phase I of The Wharf opened last October, and Phase II of the project is scheduled to open in 2022.

July 30, 2018

Civic Loans Maryland Southeast

Alliant Provides $12.5M Refinancing for Parking Facility at Baltimore-Washington International Airport

by Camren Skelton July 30, 2018

LINTHICUM HEIGHTS, MD. — Alliant Credit Union has provided a 10-year, $12.5 million loan to refinance a remote airport parking facility at Baltimore-Washington International Airport. The 850,852-square-foot site includes 2,156 parking spaces and is located less than one mile from the main terminal building at the airport. The facility is privately owned and managed. The name of the borrower was not disclosed.

July 30, 2018

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