Southeast

LPC Southeast Brokers Sale of 215,000 SF Office Building in Atlanta

by Camren Skelton March 9, 2018

ATLANTA — Lincoln Property Co. (LPC) Southeast has brokered the sale of Park Central, a 215,000-square-foot office building located at 2970 Clairmont Road in Atlanta’s North Druid Hills submarket. Florida-based TerraCap Management LLC acquired the asset for an undisclosed price with plans to invest $3.4 million to upgrade the building systems, common areas and amenities. Park Central features 24-hour security, a fitness center, conference center, on-site management and free covered parking. Michael Howell, Hunter Henritze and Caroline Cole of LPC Southeast will be retained to manage and lease the building. The trio recently completed leases at Park Central with tenants such as First Landmark Bank, Everest Campus Services Cos LLC, Delaplex Software LLC and Mallernee, Branch & Daffner LLP.

March 9, 2018

North Carolina Office Southeast

Fallon Co. Unveils Renovation Plans for 13-Story Office Building in Midtown Charlotte

by Camren Skelton March 9, 2018

CHARLOTTE, N.C. — The Fallon Co. has unveiled the renovation and rebranding plans for its 13-story office property located at 301 S. McDowell St. in Midtown Charlotte. The developer originally acquired the 184,144-square-foot tower in July 2017. The Fallon Co. will rename the building 301 Midtown and will implement interior and exterior enhancements. Plans for the exterior of the building include upgrades to the building’s ground floor and parking level entrances, canopies and expanded outdoor plaza space. The exterior lighting system will also be enhanced. Interior renovations will include a new fitness center with locker rooms, a grab-and-go café and added concierge and security services. The Fallon Co. will also modernize the conference center and add tenant storage space. 301 Midtown is situated within walking distance to public transportation, retailers, restaurants, parks and apartment communities. The Fallon Co. plans to begin renovations this spring and finish in the fall.

March 9, 2018

North Carolina Office Southeast

FNB Corp. to Anchor 31-Story Office Tower in Charlotte

by Camren Skelton March 8, 2018

CHARLOTTE, N.C. — FNB Corp., the parent company of First National Bank, has signed on as the anchor tenant for a planned 31-story office tower in Charlotte. Dominion Realty Partners (DRP) will develop FNB Tower–Charlotte, which will be located at 401 S. Graham St. Greg Broujos of Colliers International and David Thor of JLL represented FNB in the lease negotiations, and DRP was represented internally. The new building will serve as the headquarters for FNB’s Charlotte region. Upon opening, FNB will occupy more than 30,000 square feet of office space with additional options to to accommodate further growth. The new tower will create a central hub expand housing leadership, as well as the bank’s small business administration lending, commercial banking, mortgage banking and builder finance departments. The announcement comes on the heels of FNB’s previously announced plans to occupy a new regional headquarters building, FNB Tower-Raleigh, in Raleigh. DRP will manage FNB Tower-Charlotte upon completion in late 2020.

March 8, 2018

Hospitality Kentucky Mixed-Use Southeast

Omni Hotels & Resorts Opens Hotel Portion of $300M Mixed-Use Project in Downtown Louisville

by Camren Skelton March 8, 2018

LOUISVILLE, KY. — Omni Hotels & Resorts has opened the 612-room Omni Louisville Hotel in downtown Louisville. The project created roughly 400 permanent jobs and represents a $300 million investment by Omni Hotels & Resorts and the metro Louisville government. The hotel features dining concepts including the Library Bar, The Water Co. and Texas-based Bob’s Steak & Chop House. The hotel is also home to Falls City Market, an urban market and food hall that offers food, beverages and grocery staples; Pin + Proof, a speakeasy with four professional bowling lanes; and Lewis + Louis, a bourbon retail and tasting room. Hotel amenities include a rooftop pool, fitness center, spa, local art gallery and 70,000 square feet of meeting and event space. Atop the hotel, 225 one- and two-bedroom apartment units are available for preleasing and are expected to open in May.

March 8, 2018

Georgia Mixed-Use Retail Southeast

Dine-In Theater Concept to Anchor NAP’s Colony Square Redevelopment in Midtown Atlanta

by Camren Skelton March 8, 2018

ATLANTA — Dine-in theater concept iPic Theaters will open its first Georgia location at Midtown Atlanta’s Colony Square, a mixed-use destination under redevelopment by North American Properties. Located at the corner of Peachtree and 14th streets, Colony Square was originally built in 1968. Upon completion, the reimagined development will include 260,000 square feet of retail and restaurant space, 262 apartment units, 940,000 square feet of office space, a 466-room hotel and community gathering spaces. The new iPic Theater will operate nine auditoriums seating between 40 and 60, alongside a 6,700-square-foot restaurant/bar. In addition to traditional movies, the theater will feature live shows including magic, comedy and gaming competitions. iPic Theater is expected to open at Colony Square in 2020.

March 8, 2018

Florida Multifamily Southeast

Berkadia Brokers $28.5M Sale of Multifamily Community in South Florida

by Camren Skelton March 8, 2018

LAUDERHILL, FLA. — Berkadia has brokered the $28.5 million sale of Summit Palms, a 352-unit apartment community located at 4491 N.W. 19th St. in the South Florida town of Lauderhill. Tal Frydman, Yoav Yuhjtman and Nicholas Perrone of Berkadia arranged the transaction on behalf of the seller, Miami-based Summit Property Group, and the buyer, Chevy Chase, Md.-based Federal Capital Partners. Constructed in 1974, Summit Palms features a mix of one-, two- and three-bedroom units. Community amenities include on-site laundry facilities, a playground and on-site management.

March 8, 2018

Alabama Loans Multifamily Southeast

Colliers Secures Construction Financing, Equity for $38M Apartment Development Near Mobile

by Camren Skelton March 8, 2018

FAIRHOPE, ALA. — Colliers International has arranged both the equity and construction financing for The Retreat at Fairhope Village, a $38 million apartment development in Fairhope, roughly 20 miles southeast of Mobile. Forrest Speed and Ron Cameron of Colliers International placed the loan through a pair of banks on behalf of the developer, a partnership led by Leaf River Group LLC. The Retreat at Fairhope Village will include 240 units with an average size of 1,062 square feet. Units will feature quartz countertops, stainless steel appliances, plank flooring and bay windows. The property site is located adjacent to The Shoppes at Fairhope Village, a Publix-anchored shopping center located on U.S. Highway 98. The partnership will begin site work later this month, and expects to deliver the community in mid-2019.

March 8, 2018

Data Centers Georgia Southeast Top Stories

Facebook to Invest $750M in 970,000 SF Data Center Campus in Georgia

by Kristin Harlow March 8, 2018

ATLANTA — Georgia Gov. Nathan Deal announced yesterday that social media giant Facebook Inc. (NASDAQ: FB) will invest $750 million and create at least 100 full-time jobs with its new data center in Stanton Springs, a 1,620-acre industrial park located roughly 30 miles east of Atlanta in Newton County. The Newton Data Center will include two buildings totaling 970,000 square feet and will help Menlo Park, Calif.-based Facebook provide apps and services to more than 2 billion people around the world. The new facility will be Facebook’s ninth data center in the United States. New jobs will include positions in engineering and management, as well as opportunities for data center technicians. The Newton Data Center will be fully powered by clean and renewable energy, and cooled using outdoor air instead of air conditioners. The facility will also house Facebook’s specialized hardware that powers its apps and other services. The buildings are expected to be fully operational in 2020. EJane Caraway, director of life sciences and corporate solutions for the Georgia Department of Economic Development, represented the state’s Global Commerce Division in partnership with the Joint Development Authority of Jasper, Morgan, Newton and Walton counties, Walton EMC, the Metro Atlanta Chamber, Georgia …

March 8, 2018

North Carolina Office Southeast

90 North Sells Office Portfolio in Research Triangle Park to Sentinel for $135.3M

by Camren Skelton March 7, 2018

MORRISVILLE, N.C. — London-based 90 North Real Estate Partners has sold Lenovo Enterprise Campus, a three-building office campus in Morrisville, for $135.3 million. Seth Wiener of Capital One originated a three-year, $81.2 million acquisition loan on behalf of the buyer, a joint venture between New York-based Sentinel Real Estate and Bahrain Mumtalakat Holding Co. Capital One will hold $44.3 million of the loan and has syndicated the remainder to Regions Bank. The campus is located within Research Triangle Park and is fully leased by Lenovo, a computer manufacturing and technology company with headquarters in Beijing and North Carolina. The properties include 7001 Development Drive, a four-story, 193,353-square-foot building completed in 1995; 8001 Development Drive, a four-story, 252,232-square-foot building completed in 1998; and 7501 Development Drive, a two-story, 39,952-square-foot building completed in 2017. The site can accommodate an additional 100,000-square-foot building that could be used for further expansion by Lenovo or to accommodate a complementary user. The Lenovo Enterprise Campus features a cafeteria and food service operations, fitness center, outdoor patios, new conference facility and employee break rooms. A pedestrian bridge links the three buildings. Outdoor amenities include a sand volleyball court, basketball court, five-acre lake and a 16-acre nature preserve. The …

March 7, 2018

North Carolina Office Southeast

HFF Brokers $62.5M Sale of Office Portfolio in Metro Charlotte

by Camren Skelton March 7, 2018

HUNTERSVILLE, N.C. — HFF has brokered the $62.5 million sale of The Park-Huntersville, a five-building office portfolio totaling 395,586 square feet in Huntersville, roughly 15 miles north of Charlotte. The buildings are part of a master-planned mixed-use community with more than 3 million square feet of office, industrial, flex, retail, medical and hospitality space. Ryan Clutter, Scot Humphrey and Chris Lingerfelt of HFF arranged the transaction on behalf of the seller, U.S. Trust – Bank of America N.A., and procured the buyer, Atlanta-based OA Development. Patterson Real Estate Advisory Group arranged acquisition financing through Principal Real Estate Investors on behalf of OA. The portfolio includes The Alexander Building at 13620 Reese Blvd. E.; The Kemp Building at 13801 Reese Blvd. W.; The Latta Building at 9930 Kincey Ave.; The Reed Building at 9920 Kincey Ave.; and The Storrs Building at 10115 Kincey Ave. At the time of sale, the portfolio was 91 percent leased to tenants such as Stanley Black & Decker, Amerock, Apex Tool, Ensemble Health Partners and Kellogg’s. The Spectrum Cos. was retained to lease and manage the properties.

March 7, 2018

Newer Posts

Older Posts