Southeast

Miller-Valentine Breaks Ground on 200,000 SF Spec Industrial Facility in South Carolina

by John Nelson April 12, 2017

WEST COLUMBIA, S.C. — Miller-Valentine Group has begun construction on Midway Logistics II, a 200,000-square-foot speculative industrial facility located at 825 Bistline Drive in West Columbia. The property will be situated within Lexington County Industrial Park, a 350-acre master-planned industrial development located at the intersection of Interstates 77 and 26. Miller-Valentine Group has awarded Colliers International the leasing assignment for Midway Logistics II, which is the first speculative industrial facility built by a private developer in South Carolina’s Midlands region since 2009.

April 12, 2017

Georgia Multifamily Southeast

Pollack Shores Opens Apartment Community in West Midtown Atlanta

by John Nelson April 12, 2017

ATLANTA — Pollack Shores Real Estate Group has opened Millworks at Howell Mill, a 345-unit apartment community located on Emery Street in Atlanta’s West Midtown district. The property, which has 80 residences under lease, is situated near the intersection of Collier and Howell Mill roads. Millworks features one- and two-bedroom apartments ranging from 727 to 1,581 square feet. Matrix Residential, a Pollack Shores subsidiary, is managing Millworks. Community amenities at Millworks at Howell Mill include a conference room, Google Fiber connectivity, resort-style saline pool, bocce ball court and an outdoor lounge.

April 12, 2017

Retail Southeast Tennessee

Branch, DeFoor to Build Publix-Anchored Shopping Center in Chattanooga

by John Nelson April 12, 2017

CHATTANOOGA, TENN. — Atlanta-based Branch Properties and DeFoor Development plan to develop The Village of Waterside, a 162,000-square-foot shopping center in Chattanooga’s Hamilton Mill neighborhood. The property, which will be anchored by Publix and REI, will be situated on 22.8 acres at the intersection of Shallowford and Gunbarrel roads. This will be the first Chattanooga store for REI, an outdoor gear and apparel retailer. Branch and DeFoor expect to deliver The Village of Waterside in late summer 2018.

April 12, 2017

Florida Industrial Southeast

Foundry Commercial, PGIM to Develop 510,000 SF Industrial Park in Orlando

by John Nelson April 12, 2017

ORLANDO, FLA. — Foundry Commercial has formed a joint venture with PGIM Real Estate to develop Princeton Oaks, a 510,000-square-foot, Class A industrial project in Orlando. The property, which is expected to add 300 new jobs to the area, will be situated on 60 acres near the intersection of John Young Parkway and Princeton Street. Foundry Commercial and PGIM expect to deliver Princeton Oaks in December.

April 12, 2017

District of Columbia Loans Multifamily Southeast

Walker & Dunlop Originates $183.1M in Financing for Two Multifamily Properties in D.C.

by John Nelson April 11, 2017

WASHINGTON, D.C. — Walker & Dunlop has arranged two loans totaling $183.1 million for Park Chelsea and 2M, two LEED-certified multifamily properties in Washington, D.C. Brendan Coleman, Keith Melton and David Strange led the Walker & Dunlop origination team, which arranged the transactions through Fannie Mae’s Green certification execution for Park Chelsea and the U.S. Department of Housing and Urban Development’s (HUD) refinance program for 2M on behalf of WC Smith, a developer and owner of affordable housing in the Mid-Atlantic region. Situated in Washington, D.C.’s NoMa district, 2M is a LEED Gold-certified property with 93 percent of its units reserved for low-income tenants, including renters using Section 8 vouchers. Community amenities include a rooftop pool, grilling area, indoor fitness center and basketball court and 24-hour concierge services. The property was 99 percent occupied at closing. WC Smith, which closed a HUD development loan for 2M two years ago, will use the $63.8 million loan to refinance existing debt. Park Chelsea is the first of three properties that will be known as The Collective, a rental community located in Washington, D.C.’s Capitol Riverfront. As a LEED Silver-certified building, the property qualified for Fannie Mae’s Green Building Certification financing, which totaled …

April 11, 2017

Multifamily North Carolina Southeast

TriBridge Residential Purchases Multifamily Community in Charlotte for $31.5M

by John Nelson April 11, 2017

CHARLOTTE, N.C. — Atlanta-based TriBridge Residential LLC has purchased Morehead West, a 211-unit apartment community located at 1932 W. Morehead St. in Charlotte’s FreeMoreWest neighborhood, for $31.5 million. The asset also includes 5,600 square feet of commercial space. The property is TriBridge’s fourth acquisition in Charlotte area. TriBridge will manage the property, and Ligon Commercial Real Estate will lease the asset on behalf of TriBridge.

April 11, 2017

Office Southeast Tennessee

Dilweg Acquires Five-Story Office Building in Nashville for $17.7M

by John Nelson April 11, 2017

NASHVILLE, TENN. — The Dilweg Cos. has purchased Vantage Place, a five-story, Class B office building in Nashville’s MetroCenter submarket. The seller and sales price were not disclosed, but The Tennessean reports the sales price as $17.7 million. Built in 1981, the 167,818-square-foot property was 92 percent leased to tenants such as Centerstone Research Institute, CGS and Young Williams. The purchase of Vantage Place brings Dilweg’s Southeast holdings to nearly 6 million square feet.

April 11, 2017

Florida Retail Southeast

Regency Centers to Develop $16.4M Retail Center in Miami

by John Nelson April 11, 2017

MIAMI — Regency Centers Corp. plans to develop Pinecrest Place, a $16.4 million retail center situated off U.S. Highway 1 (South Dixie Highway) in Miami. Whole Foods Market will anchor the 70,000-square-foot center with a 46,000-square-foot store. The shopping center will be located adjacent to a 173,000-square-foot Target. Regency Centers plans to deliver Pinecrest Place in the second quarter of 2018. Regency has developed 225 shopping centers since 2000, representing an investment at completion of more than $3.5 billion.

April 11, 2017

North Carolina Retail Southeast

Aston Properties Signs Up New Retailers at Shopping Center Underway in Charlotte

by John Nelson April 11, 2017

CHARLOTTE, N.C. — Aston Properties has announced retailers and restaurants joining City Park Village, an 11,600-square-foot shopping center under construction in Charlotte. Situated on a 2.6-acre site at the corner of West Tyvola Road and Potomac River Parkway, the property is nearly 90 percent pre-leased to tenants including Panera Bread, Chipotle Mexican Grill, Starbucks Coffee and Firehouse Subs. The $6 million property will serve as the entrance to City Park, a 170-acre mixed-use development that Pope & Land Enterprises is developing on the former site of the Charlotte Coliseum. The Shopping Center Group is leasing City Park Village, which has 1,575 square feet available, as well as retail pads fronting West Tyvola Road.

April 11, 2017

District of Columbia Office Southeast

Pearlmark, Lincoln Property to Develop Trophy Office Building in D.C.

by John Nelson April 10, 2017

WASHINGTON, D.C. — Chicago-based Pearlmark Real Estate and Lincoln Property Co. are teaming up to develop an 11-story trophy office building at 699 14th St. N.W. in Washington, D.C.’s East End, less than two blocks from the White House. Situated at the corner of 14th and G streets, the development will connect to the existing historic banking hall, which was last occupied by the National Bank of Washington. Designed by Shalom Baranes Associates, the 160,000-square-foot property will feature 135,000 square feet of office space and 25,000 square feet of ground-floor retail space. The office space will feature 9-foot ceilings, floor-to-ceiling glass, multiple common rooms and private outdoor terraces. As part of the joint venture agreement, Lincoln Property Co. will develop, lease and manage the office building. Matt Haley and Ryan Kruzel were the lead executives on the transaction for Pearlmark. Stephen Conley, Susan Carras and Andrew Weir of HFF arranged the joint venture between Pearlmark and Lincoln.

April 10, 2017

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