Southeast

NAI Avant Brokers $11.3M Sale of Office Building in North Charleston

by Camren Skelton July 21, 2017

NORTH CHARLESTON, S.C. — NAI Avant has arranged the $11.3 million sale of 4221 Faber Place Drive, a 48,000-square-foot, Class A pharmaceutical manufacturing and testing facility located within the Faber Place Executive Park in North Charleston. Dexter Rumsey of NAI Avant represented the buyer, JEMA I LLC, in the transaction. CBRE’s Charlie Carmody represented the seller, The Medical University of South Carolina. At the time of sale, the building was leased long-term to a pharmaceutical testing company.

July 21, 2017

Southeast Tennessee

JE Dunn Construction to Break Ground on $120M Parking Garage at Nashville International Airport

by Camren Skelton July 20, 2017

NASHVILLE, TENN. — JE Dunn Construction has unveiled plans for a six-story, $120 million parking garage at Nashville International Airport, the first element of the airport’s $1.2 billion expansion plan. The project will replace an existing structure and provide 2,000 parking spaces, sensors to let drivers know what spaces are available and a passenger pick-up and drop-off hub for taxis, limos, shuttles and ride-sharing services. The garage will feature eco-friendly elements including an upper-level solar array, rainwater harvesting system and a green screen vegetation wall. Atkins is the architect of record for the project, which is slated for completion in fall 2018.

July 20, 2017

Office Southeast Virginia

Hogan Lovells to Relocate to New Office Tower in Northern Virginia

by Camren Skelton July 20, 2017

TYSONS, VA. — Hogan Lovells, an international law firm, will relocate its Northern Virginia office to Boro Tower, a new 20-story office tower under construction at The Boro, a planned 15-acre mixed-use development in Tysons. The first phase of The Boro will deliver 700 residential units, 260,000 square feet of retail space and Boro Tower. The Meridian Group and Rockefeller group are codeveloping the project, with the first phase slated for completion in 2019. Rob Faktorow and Terry Reiley of CBRE represented The Meridian Group in the lease transaction, and Rick Rome and Alexandra deVilliers of Savills Studley represented Hogan Lovells. The law firm will relocate from Park Place II in McLean, Va., and will occupy 44,500 square feet of office space at the new building beginning in June 2019. TEGNA, a digital media company, will lease approximately 46,000 square feet at Boro Tower as well.

July 20, 2017

Maryland Mixed-Use Southeast

Kimco Signs Cinépolis USA to Mixed-Use Development in Metro D.C.

by Camren Skelton July 20, 2017

GAITHERSBURG, MD. — Kimco Realty Corp. has signed a lease with Cinépolis USA, a Dallas-based movie theater chain, to bring its luxury theater concept to Kentlands Market Square in Gaithersburg, roughly 20 miles north of Washington, D.C. Kimco acquired the 250,000-square-foot, Whole Foods-anchored development in 2016 and has unveiled plans for redevelopment, including renovated facades, improved pedestrian access, upgraded lighting and landscaping and revitalization of the community’s main street. The 34,000-square-foot Cinépolis USA is the first step in the redevelopment process, and will feature 540 seats, fully reclining leather seat auditoriums, lounge-style lobby space, in-theater waiter service and a selection of beer, wine and liquor. Cinépolis Luxury Cinemas — Gaithersburg is slated to open in 2019 and will mark Cinépolis USA’s debut in the Maryland market. Cinépolis, the theater’s Mexico-based parent company, is the fourth largest movie theater exhibitor in the world.

July 20, 2017

Loans Louisiana Multifamily Southeast

KeyBank Arranges $33.9M Acquisition Loan for Multifamily Property in Baton Rouge

by Camren Skelton July 20, 2017

BATON ROUGE, LA. — KeyBank Real Estate Capital has provided a $33.9 million acquisition loan for Cypress Lake Apartments in Baton Rouge. Erik Storz of KeyBank arranged the 10-year loan with a 30-year amortization schedule and five years of interest-only payment through Fannie Mae Green Rewards. Constructed in 2003, the 314-unit, garden style property features two swimming pools, a lighted tennis court, clubhouse and an on-site car care center.

July 20, 2017

Loans Multifamily Seniors Housing Southeast Tennessee

Capital One Provides $27.2M in HUD Refinancing for Skilled Nursing Facilities in Tennessee

by Camren Skelton July 20, 2017

MCLEAN, VA. — Capital One has provided three loans totaling $27.2 million for the refinancing of three skilled nursing facilities in Tennessee. Joshua Rosen of Capital One originated the 35-year, fixed-rate loans through HUD 232/223(f) on behalf of the borrower, Strawberry Fields REIT. The portfolio includes the 109-bed Lakebridge, a Waters Community in Johnson City, Tenn., which received a $10.6 million loan; The Waters of Smyrna, a 91-bed facility that received an $8.4 million loan; and The Waters of Shelbyville, a 96-bed property that received an $8.2 million loan.

July 20, 2017

Multifamily North Carolina Southeast

ARA Newmark Closes $52.5M Sale of Multifamily Property in Metro Raleigh

by Camren Skelton July 19, 2017

CARY, N.C. — ARA Newmark has brokered the $52.5 million sale of Cary Greens at Preston, a 292-unit apartment community located in Cary, roughly 10 miles west of Raleigh. Dean Smith and Sean Wood of ARA Newmark arranged the sale on behalf of the seller, Dayton, Ohio-based The Connor Group. New York-based Rivendell Global Real Estate acquired the property. Constructed in 1996, Cary Greens at Preston includes a mix of one-, two- and three-bedroom units and features a resort style pool with a sundeck and cabana, 24-hour fitness center, business center and a playground area.

July 19, 2017

Georgia Mixed-Use Southeast

CGI Strategies Sells Mixed-Use Development in Atlanta’s Sweet Auburn District

by Camren Skelton July 19, 2017

ATLANTA — CGI Strategies has sold City Walk, a mixed-use development located at 171 Auburn Ave. N.E. in Atlanta’s Sweet Auburn Avenue Historic District. The six-story property includes 144 one- and two-bedroom units and approximately 30,500 square feet of street-level retail space. Property amenities include a rooftop tennis court, poolside resident lounge and a 24-hour fitness center. CGI sold the apartment portion of the property to San-Francisco-based FPA Multifamily and the retail portion to a joint venture between Franklin Road Amoco Inc. and Southern Gas Partners LLC. Mike Kemether, Josh Goldfarb and Travis Presnell of Cushman & Wakefield represented both parties in the transaction. The sales price was not disclosed. At the time of sale, the retail portion was leased to Pizza Hut, Sweet Auburn Seafood and Moe’s Southwest Grill.

July 19, 2017

North Carolina Office Southeast

Oberlin Capital Sells Office Building in Raleigh for $9.9M

by Camren Skelton July 19, 2017

RALEIGH, N.C. — Oberlin Capital Acquisition has sold the Occidental Building, a 56,043-square-foot office building located at 1001 Wade Ave. in Raleigh, for $9.9 million. Marcus Jackson of TradeMark Properties represented Oberlin Capital in the sale to Empire Properties. Constructed in 1956, the building is registered and certified with the National Register of Historic Places. At the time of sale, the property was fully leased to tenants including Coldwell Banker Howard Perry and Walston, TradeMark Properties, Wall Templeton and Louis Berger.

July 19, 2017

Maryland Retail Southeast

Marcus & Millichap Brokers $9M Sale of Harris Teeter-Occupied Property in Suburban Maryland

by Camren Skelton July 19, 2017

GERMANTOWN, MD. —Marcus & Millichap has arranged the $9 million sale of a 43,245-square-foot retail property leased to Harris Teeter in Germantown, about 27 miles northwest of Washington, D.C. Josh Ein and Dean Zang of Marcus & Millichap facilitated the transaction on behalf of the seller, a private local investor. The buyer, a local private family office, procured an 11-year, non-recourse CMBS loan for the acquisition. Constructed in 1997, the grocery store sits on a 10.6-acre parcel of land on Darnestown Road. Harris Teeter is a wholly owned subsidiary of The Kroger Co.

July 19, 2017

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