Southeast

American Realty Advisors, Stonemar Buy Ballantyne Village in Charlotte for $43.2M

by John Nelson May 11, 2017

CHARLOTTE, N.C. — American Realty Advisors and Stonemar Properties have partnered to acquire Ballantyne Village, a 171,559-square-foot mixed-use development located at 14825 Ballantyne Village Way in Charlotte. The sales price was undisclosed, but the Charlotte Business Journal reports that the buyers purchased the asset from a limited liability corporation controlled by Vision Ventures and Mount Vernon Asset Management for $43.2 million. Situated near Ballantyne Corporate Park, which recently sold for more than $1 billion, the development features 13 dining options, two schools, personal services providers, office space and outdoor gathering areas. Rob Carter, David Webb, Rad von Werssowetz and Alex Quarrier of Berkeley Capital Advisors represented the seller in the transaction.

May 11, 2017

Georgia Industrial Southeast

Hillwood to Develop 797,580 SF Distribution Center in Metro Atlanta

by John Nelson May 11, 2017

ELLENWOOD, GA. — Hillwood plans to build Clayton Commerce Center, a 797,580-square-foot distribution center located near Interstate 675 in Ellenwood, about nine miles east of Hartsfield-Jackson Atlanta International Airport. The facility will be Hillwood’s first metro Atlanta project built on a speculative basis. The property will include 36-foot clear heights, an ESFR sprinkler system, cross-dock configuration, 231 trailer storage spaces and 442 parking spaces for automobiles. Clayton County is the only county in metro Atlanta to be designated Tier 1 by the Georgia Department of Community Affairs, and Hillwood’s development is expected to offer potential tenants job tax credits and property tax reductions. Hillwood has selected Reliant Real Estate Partners to lease Clayton Commerce Center, which is expected to come on line in December.

May 11, 2017

Multifamily North Carolina Southeast Student Housing

Vesper Buys Student Housing Community Near University of North Carolina at Greensboro for $36.5M

by John Nelson May 11, 2017

GREENSBORO, N.C. — Vesper Holdings has acquired Campus Crossing Sherwood Forest, a 790-bed student housing community located near the University of North Carolina at Greensboro, for $36.5 million. The property comprises one-, two-, three- and four-bedroom units. Community amenities include a 12,000-square-foot clubhouse, swimming pool, hot tub, fitness center, rock wall, spin and yoga studios, a computer lab, game room, movie theater, tanning beds and a volleyball court. The new ownership plans to rebrand the community and execute $1.8 million worth of renovations to units, shared amenities and the property’s exterior. Vesper acquired the asset from an undisclosed, local owner in the off-market transaction.

May 11, 2017

Industrial Southeast Tennessee

NAI Saig, Avison Young Broker $33.1M Sale of 1.1 MSF Industrial Portfolio in Memphis

by John Nelson May 11, 2017

MEMPHIS, TENN. — NAI Saig and Avison Young have arranged the $33.1 million sale of a nine-property, 1.1 million-square-foot industrial portfolio located within Memphis International Airport Center (MIAC). Faropoint Ventures purchased the portfolio from Connecticut-based Greenfield Partners LLC. The portfolio was 93.1 percent leased at the time of sale to tenants such as FedEx, Kohler, United States Postal Service and DHL. Brian Califf of NAI Saig represented Faropoint in the transaction, and Shane Soefker and Jacob Biddle of Avison Young represented Greenfield Partners. Faropoint has retained Califf and Elliot Embry of NAI Saig to handle the portfolio’s leasing assignment.

May 11, 2017

Florida Loans Southeast

KeyBank Secures $52M CMBS Loan for Self-Storage Portfolio in Florida

by John Nelson May 10, 2017

CLEVELAND — KeyBank Real Estate Capital has arranged a $52 million CMBS loan for a five-property self-storage portfolio in Florida. Built between 1979 and 2001, the portfolio, known as SST II Self Storage Portfolio, spans 586,849 square feet and 3,916 units. Randy Martin of KeyBank arranged the non-recourse, 10-year refinancing with a five-year interest-only period and a 30-year amortization schedule.

May 10, 2017

Industrial Southeast Virginia

Harvey Lindsay Arranges $8.5M Sale of 400,000 SF Industrial Facility in Virginia Beach

by John Nelson May 10, 2017

VIRGINIA BEACH, VA. — Harvey Lindsay Commercial Real Estate has brokered the $8.5 million sale of a 400,000-square-foot industrial development located at 1440 London Bridge Road in Virginia Beach. A local investment group purchased the facility from General Foam Plastics Corp. The property comprises two 200,000-square-foot warehouses on 33 acres, with 10 acres reserved for future development. Lindsay Himelright of Harvey Lindsay represented the seller in the transaction, and John Lee & Associates represented the buyer.

May 10, 2017

Georgia Multifamily Southeast

Berkadia Brokers $6.8M Sale of Apartment Community in Augusta

by John Nelson May 10, 2017

AUGUSTA, GA. — Berkadia has arranged the $6.8 million sale of Oak Hill, a 120-unit apartment community located at 817 Hickman Road in Augusta. Nashville, Tenn.-based Augusta Hickman Road Multifamily Partners LLC purchased the asset from Lakewood, N.J.-based Oak Hill 2008 LLC. Built in 1972, Oak Hill comprises all three-bedroom units with community amenities including two swimming pools, two laundry facilities, new windows and new roofs. The community was 94 percent occupied at the time of sale. Mark Boyce and Blake Coffey of Berkadia’s Charleston office and Jeremiah Jarmin of the firm’s Atlanta office represented the seller in the transaction.

May 10, 2017

District of Columbia Office Southeast

NGKF Arranges Three Office Leases in D.C.’s Capitol Riverfront District

by John Nelson May 10, 2017

WASHINGTON, D.C. — Newmark Grubb Knight Frank (NGKF) has arranged three lease deals totaling 26,332 square feet at a 10-story office building located at 1100 New Jersey Ave. S.E. in Washington, D.C.’s Capitol Riverfront district. The new tenants include The African Wildlife Foundation (AWF), law firm Watkinson & Miller and defense and government contractor Assett Inc. AWF has leased 15,024 square feet on the ninth floor, relocating from 1400 16th Street N.W.; Watkinson & Miller leased the remaining 8,630 square feet on the ninth floor, relocating from One Massachusetts Avenue N.W.; and Assett Inc. leased the remaining 2,678 square feet on the seventh floor. Owned by WC Smith, the newly renovated office building overlooks the Potomac River, U.S. Capitol, Canal Park and Nationals Park. WC Smith’s recent renovations at the Class A building include a new fitness center, bicycle storage and a new conference center. Brendan Owen, Rafael Notario and Morgan Monroe of NGKF represented WC Smith in the lease negotiations. Bill Zonghetti and David Hardcastle of NGKF represented AWF, Terry Amling of Lincoln Property Co. represented Watkinson & Miller and Neil Narcisenfeld and Sarah Frick of Ezra Co. represented Assett Inc.

May 10, 2017

Maryland Office Southeast

Marcus & Millichap Negotiates $4.2M Sale of Office Building in Downtown Baltimore

by John Nelson May 10, 2017

BALTIMORE — Marcus & Millichap has arranged the $4.2 million sale of The American Building, an 81,750-square-foot office building located at 231 E. Baltimore St. in downtown Baltimore. Built in 1905, the property served as the The Baltimore American newspaper’s headquarters until 1986. The office building was 51 percent leased at the time of sale to nonprofit organizations, government agencies, law firms and retailers. Robert Filley and Christian Beck of Marcus & Millichap represented the seller in the transaction.

May 10, 2017

Hospitality Southeast Tennessee

Songy Highroads to Develop Hyatt House Hotel in Nashville

by John Nelson May 9, 2017

NASHVILLE, TENN. — Atlanta-based Songy Highroads LLC plans to develop a new 15-story Hyatt House hotel in Nashville. The Hyatt House Nashville West End will be located at the intersection of Hayes Street and 21st Avenue, about a block from Vanderbilt University, Saint Thomas Medical and Centennial Medical Center. Wakefield Beasley & Associates designed the hotel, which will feature Hyatt’s signature H Bar concept and a pool and fitness center on the fifth floor. Songy Highroads and its joint venture partner, an affiliate of Hyatt, plan to deliver the 201-room hotel in early 2019.

May 9, 2017

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