Southeast

Slate Retail REIT Buys Shopping Center in Metro Charlotte for $16.7M

by John Nelson October 18, 2016

MOORESVILLE, N.C. — Slate Retail REIT, a Toronto-based owner and operator of U.S. grocery-anchored properties, has acquired Mooresville Town Square, a Lowes Foods-anchored retail center in Mooresville, a northern suburb of Charlotte. The publicly traded REIT purchased the asset for $16.7 million, or $186 per square foot. The shopping center was 88 percent leased at the time of sale to tenants such as Famous Toastery, Jimmy Johns, Firestorm Pizza and Fusion Bowl. Mooresville Town Square is the sixth property in North Carolina for Slate Retail REIT.

October 18, 2016

Georgia Hospitality Mixed-Use Southeast

Hay Creek to Build First Metro Atlanta Hotel in Pinewood Forrest Development

by John Nelson October 17, 2016

FAYETTEVILLE, GA. — Hay Creek Hotels, an Exeter, N.H.-based developer and manager of boutique hotels, plans to build its first hotel in the metro Atlanta area in Pinewood Forrest, a 234-acre master-planned development situated adjacent to Pinewood Atlanta Studios in Fayetteville. Scheduled to open in 2018, the 95-room hotel will feature meeting and function space, an upscale restaurant, bar, spa, pool and special suites for celebrity guests of Pinewood Atlanta Studios. HCH Pinewood Forrest LLC will develop the hotel, and Hay Creek will operate the property upon completion. Led by Chick-fil-A CEO Dan Cathy, the development team behind Pinewood Forrest has also selected the metro Atlanta real estate brokerage firm Ansley Atlanta to provide residential sales and marketing for the development’s single-family homes. The first home sites will be available for reservation in the coming months.

October 17, 2016

Georgia Office Southeast

Skanska to Build $56M Office Building in Atlanta

by John Nelson October 17, 2016

ATLANTA — Skanska has signed a $56 million contract to construct a build-to-suit corporate office building in Atlanta for an undisclosed company. The office building will span roughly 200,000 square feet and feature a 210,000-square-foot parking deck. Skanska expects to deliver the building in 2018.

October 17, 2016

Industrial Southeast Virginia

Devon USA to Construct 320,853 SF Spec Distribution Center in Metro Richmond

by John Nelson October 17, 2016

ASHLAND, VA. — Devon USA plans to develop a 320,853-square-foot distribution center at 11600 N. Lakeride Parkway in Ashland, roughly 18 miles north of Richmond. Known as Building D, the spec project will be situated within Enterchange at Northlake Industrial Park. Set for completion in summer 2017, the property will feature 32-foot clear heights, an ESFR sprinkler system, cross-dock loading, dock-high doors and drive-in doors. The property’s sustainable features will include a white reflective roof, skylights, LED lighting and a R30 insulated roof. Richmond-based Devon USA has selected Evan Magrill and N. Dean Meyer of Cushman & Wakefield | Thalhimer to handle Building D’s leasing responsibilities.

October 17, 2016

Georgia Office Southeast

PGi Renews, Expands Office Leases in Metro Atlanta

by John Nelson October 17, 2016

ATLANTA — PGi, an Atlanta-based software provider, has renewed its lease at the company’s corporate headquarters at the Terminus 100 office tower in Atlanta’s Buckhead district. The company also renewed and expanded its lease at the GA 400 Center office building in Alpharetta. The two 12-year lease deals total roughly 70,000 square feet. PGi signed its lease renewal at Terminus 100 with Cousins Properties and signed its lease renewal and expansion at GA 400 Center with TPA Group. PGi has also selected architect Gensler to redesign the company’s office space at the two locations. Patrick Duffy and Taylor Senter of Newmark Grubb Knight Frank advised PGi on the lease deals and the redesign project.

October 17, 2016

Alabama Loans Retail Southeast

Wool Finance Arranges $7.9M Construction Loan for Publix-Anchored Center in Mobile

by John Nelson October 17, 2016

MOBILE, ALA. — Wool Finance Partners has arranged a $7.9 million construction loan for the development of a 101,000-square-foot Publix-anchored shopping center in Mobile. The shopping center is a joint venture between Charlotte-based MAB American Retail Partners LLC and Oak Brook, Ill.-based Inland Retail Centers LLC. Publix will occupy a freestanding, 39,000-square-foot store within the development. Matt Lebenson of Wool Finance arranged the two-year construction loan through an unnamed regional bank. The loan features a 55 percent loan-to-cost ratio and an extension option for the joint venture.

October 17, 2016

Industrial Market Reports Maryland Southeast Southeast Market Reports

Baltimore Industrial Revolution Fueled by Consumer Products Sector

by John Nelson October 17, 2016

Bigger — and strategically located — continues to be better in the Baltimore metropolitan region when it comes to the industrial real estate product sector. Blink your eye these days in Charm City, and you might miss the latest 100,000- to 500,000-square-foot transaction that transpired, fueled by the seemingly insatiable appetite among retailers to warehouse consumer products near large population areas and maintain same-day or next-day delivery models. Companies involved with the production and distribution of food products and home goods are the next most prolific users of warehouse and industrial space. The avalanche of large-scale logistics-related leases first started in 2014 when Amazon.com leased a 1 million-square-foot fulfillment center with Duke Realty in Baltimore City. Recent notable activity includes RPM Warehouse (435,000 square feet at Baltimore Crossroads in White Marsh); Pier 1 Imports (644,000 square feet in Harford County); Ikea (300,000 square feet with Federal Capital Partners in Halethorpe); Canusa Corp. Fiber Group (320,000 square feet in Dundalk); Sephora Americas (320,000 square feet of renewal space in Harford County, plus an additional 620,000 feet of new space); FedEx Ground (300,000 square feet at TradePoint Atlantic); US Lumber (260,000 square feet with MCB Real Estate and One Liberty Properties); Capital …

October 17, 2016

Florida Mixed-Use Southeast

JLL to Market Parcels at $1B Creative Village Development in Downtown Orlando

by John Nelson October 14, 2016

ORLANDO, FLA. — Creative Village Development LLC (CVD) has selected JLL to oversee the marketing of select sites available for sale at Creative Village, a $1 billion, 68-acre master-planned development in downtown Orlando. The Creative Village project is a public-private partnership between the city of Orlando and CVD, the project’s master developer. CVD is a joint venture between a local entity led by Ustler Development Inc. and Bank of America Community Development Corp. (BACDC). JLL will market select parcels of Creative Village in multiple phases, with Phase I comprising three parcels. The three parcels are programmed for at least 250 multifamily residences, an office building of at least 120,000 square feet and commercial, multifamily or hotel space spanning at least several hundred thousand square feet. Aaron Gray and Bret Felberg of JLL are leading the marketing efforts. Creative Village will transform the former Amway Arena into a mixed-use, transit-oriented development comprising University of Central Florida’s downtown campus, which is set to open in August 2019; office space; a $90 million, 600-bed student housing community developed by Ustler and KUD International LLC; a $62.5 million, 250-unit multifamily community developed by Ustler and a joint venture partner; and a 116-unit, $29 million …

October 14, 2016

Florida Retail Southeast

IKEA to Open Fifth Florida Location in Jacksonville

by John Nelson October 14, 2016

JACKSONVILLE, FLA. — IKEA plans to break ground in November on its fifth Florida location in Jacksonville. Set to open in the fall of 2017, the new 290,000-square-foot IKEA store will join existing Florida locations in Orlando, Tampa, Sunrise and Sweetwater. IKEA Jacksonville will be situated on a 25-acre site along the northwestern corner of I-295 and Gate Parkway, roughly 10 miles southeast of downtown Jacksonville. The project team includes Lakeland, Fla.-based Marcobay Construction Inc.; CBRE; Driver McAfee, Peek & Hawthorne; Prosser Inc.; Bushra Tsai Inc.; RPM Engineers Inc.; Universal Engineering Sciences; Environmental Services Inc.; Gemini Engineering; and Ware Malcomb. IKEA Jacksonville is expected to create 500 construction jobs and 250 permanent jobs.

October 14, 2016

Georgia Southeast

Atlanta United to Build World’s First Soccer Field Inside Major Transit Station

by John Nelson October 14, 2016

ATLANTA — Atlanta United, the new MLS franchise in Atlanta, has teamed up with Soccer in the Streets and MARTA to develop a soccer field within MARTA’s Five Points Station in downtown Atlanta. Dubbed Station Soccer-Five Points MARTA Station, the project will be the world’s first soccer field to be located within a major urban transit station. Soccer in the Streets will lead the programming efforts for the new project, including mentoring programs, promoting employability among young people and creating adult soccer leagues. The project will be funded through a grant by Atlanta United. Station Soccer-Five Points MARTA Station will feature turf and lighting infrastructure provided by GreenFields USA, Musco/Cree Lighting and the U.S. Soccer Foundation. The timeline for the project’s construction and opening were undisclosed.

October 14, 2016

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