Southeast

Trillist Opens YOO on the Park Apartment Community in Midtown Atlanta

by John Nelson March 31, 2017

ATLANTA — The Trillist Cos. has opened YOO on the Park, a 25-story multifamily community near Piedmont Park in Midtown Atlanta. The first residents are moving into the property, which features one- and two-bedroom apartments, as well as studio and penthouse units. YOO on the Park is Trillist’s first YOO-designed property completed in the United States. The community features a pet spa, social programs for residents, bike storage, personal equipment lockers, 24-hour fitness center, outdoor exercise terrace, yoga studio, saline pool and lounge, outdoor kitchen, deck with life-sized chess set, library, conference room, juice bar, billiards lounge, golf simulator, gaming theater, on-site dry cleaning and laundry service and in-home package and dry cleaning delivery services.

March 31, 2017

Alabama Retail South Carolina Southeast

Cypress Equities Sells Eight Walmart Neighborhood Market Stores in Alabama, South Carolina

by John Nelson March 31, 2017

DALLAS — Cypress Equities has sold eight Walmart Neighborhood Market grocery stores in Alabama and South Carolina to an undisclosed REIT. Dallas-based Cypress Equities has served as a preferred developer in the Walmart Neighborhood Market build-to-suit program that was established in January 2014. In the past three years, Cypress has constructed and opened 20 Walmart Neighborhood Markets, and this sale represents the final disposition of the 20-store portfolio, which also includes stores in Texas. Listing brokers for the portfolio include Glen Kunofsky, Lauren Veres, Mike James and Don McMinn at Marcus & Millichap; Pat Luther, Matt Mousavi, Kyle Stonis and Ryan Hoff of SRS Real Estate’s National Net Lease Group; and Brad Moulder of Stan Johnson Co. The sales price and store locations were not disclosed.

March 31, 2017

Georgia Southeast

Digital Realty Opens $22M Data Center in Downtown Atlanta

by John Nelson March 31, 2017

ATLANTA — Digital Realty has opened a new 18,000-square-foot data center facility within the American Cancer Society building at 250 Williams St. in downtown Atlanta. The new $22 million facility will be connected via high-speed fiber to Digital Realty’s existing property at 56 Marietta St. Digital Realty is expanding its footprint in the Atlanta area as it is home to more than 13,000 technology companies across multiple industries, including financial services, transportation, healthcare, IT, telecommunications, internet security and more than 30 colleges and universities. Digital Realty owns and operates 145 data center properties around the world totaling roughly 23 million square feet.

March 31, 2017

Florida Retail Southeast

Steve Madden, Häagen-Dazs Sign Leases on Miami’s Lincoln Road

by John Nelson March 31, 2017

MIAMI — Thor Equities has inked leases with fashion footware retailer Steve Madden and international ice cream shop Häagen-Dazs along Lincoln Road, Miami’s high-street retail district. Steve Madden will occupy 2,300 square feet at 663 Lincoln Road, and Häagen-Dazs will occupy 1,000 square feet at 665 Lincoln Road. Thor Equities owns the 5,000 square feet of space at 663-667 Lincoln Road, which also features a 1,700-square-foot space leased to Pizza Rustica. Fiorella Perez of Rovira Realty represented Häagen-Dazs in the lease transaction, and Steve Madden was represented internally. George Stanchfield represented Thor Equities internally in both lease deals.

March 31, 2017

Florida Multifamily Southeast

Franklin Street Arranges Sale, Secures Financing for Apartment Complex in Broward County

by John Nelson March 31, 2017

SUNRISE, FLA. — Franklin Street has arranged the sale of and secured financing for Sunset Apartments, a 54-unit multifamily community located at 2340-2350 N.W. 72nd Ave. in Sunrise, a suburb of Fort Lauderdale. Tony Gannacone, Greg Matus and Dan Dratch of Franklin Street represented the Canada-based seller, RonJack Properties LP, in the transaction, and procured the unspecified buyer. The 10-year, nonrecourse acquisition loan features a fixed 3.5 percent interest rate. Franklin Street’s Evan Seacat and Ryan Cassidy provided insurance services for the asset.

March 31, 2017

Florida Hospitality Southeast

Hyatt to Open New Hotel Within Panorama Tower in Miami’s Brickell District

by John Nelson March 30, 2017

MIAMI— An affiliate of Hyatt Hotels Corp. has entered into a franchise agreement with Concord Aztec Brickell LLC for Hyatt Centric Brickell Miami, a 208-room hotel that will be situated within the 83-story Panorama Tower in Miami’s Brickell district. Located at 1101 Brickell Ave., Hyatt Centric Brickell Miami will feature a second-floor restaurant and bar, full-service spa, fitness center, swimming pool and 4,000 square feet of meeting and event space. Concord Aztec Brickell LLC is a joint venture between Aztec Group and Concord Hospitality, which will manage the hotel. Hyatt Centric Brickell Miami is expected to open in the third quarter of this year. When completed, the mixed-use Panorama Tower will be the tallest building in Miami and the largest residential building south of New York. The first two floors of Panorama Tower will include more than 50,000 square feet of retail and restaurant space.

March 30, 2017

District of Columbia Office Southeast

Washington REIT to Purchase Watergate 600 Office Building in D.C. for $135M

by John Nelson March 30, 2017

WASHINGTON, D.C. — Washington REIT has signed a contract to acquire Watergate 600, a 309,387-square-foot office building located at 600 New Hampshire Ave. N.W. in Washington, D.C. Katherine B. Bradley and David G. Bradley, owners of publishing firm Atlantic Media, have agreed to sell Watergate 600 to Washington REIT for $135 million. Atlantic Media occupies 140,000 square feet of space at the 12-story office building on a long-term lease. Built in 1972 along the Potomac River, Watergate 600 is part of the six-building Watergate complex and features direct access to Interstate 66 and the Metrorail’s Foggy Bottom rail station. The asset was 97 percent leased at the time of sale.

March 30, 2017

Florida Retail Southeast

The Shopping Center Group Negotiates $16M Sale of 64,500 SF Retail Center in Orlando

by John Nelson March 30, 2017

ORLANDO, FLA. — The Shopping Center Group has negotiated the $16 million sale of Town Center Shoppes, a 64,500-square-foot retail center located at the intersection of Mitchell Hammock Road and South Central Avenue in Orlando. An undisclosed entity purchased the property, which is anchored by a 44,000-square-foot LA Fitness. Anthony Blanco, Lenard Williams and Mallory Silva of The Shopping Center Group marketed the property on behalf of the seller, an affiliate of Gemini Real Estate Advisors, a North Carolina-based consulting firm.

March 30, 2017

Office Southeast Tennessee

Serendipity Labs Coworking to Open New Location in Downtown Nashville

by John Nelson March 30, 2017

NASHVILLE, TENN. — Serendipity Labs Coworking, a shared office space concept, has signed a lease for 15,000 square feet of space within the L & C Tower complex in downtown Nashville. Serendipity Labs will occupy the first two floors at 159 4th Ave. N., which will feature a work lounge, team rooms, private offices, a café and event space. Serendipity Labs’ development partner for Nashville, SLN Capital LLC, is an entity owned by Dan McEwan, CEO of Memphis-based Maximum Hospitality, a Starwood Preferred Management Company. SLN Capital LLC signed the lease with landlord CIM Group. McEwan expects to open the newest Serendipity Labs location in early August. New York-based Serendipity Labs has six current locations with approximately 100 locations under development across the country. McEwan expects to open additional Serendipity Labs locations in the Nashville area in the near future.

March 30, 2017

Georgia Multifamily Southeast

Greystone Brown Brokers $6.1M Sale of Multifamily Community in Dalton, Georgia

by John Nelson March 30, 2017

DALTON, GA. — Greystone Brown Real Estate Advisors has brokered the $6.1 million sale of Chalet Valley, a 140-unit, Class B multifamily community located at 1809 Shadow Lane in Dalton, a city about 90 miles northwest of Atlanta. Dalton Valley LLC acquired the property from Augsburg Investments LLC, a Georgia-based holding company. Taylor Brown, Walter Miller, Chandler Brown and Bo Brown of Greystone Brown represented the seller in the transaction. The property consists of one-, two- and three-bedroom apartments, and includes a pool, laundry services and a pet park.

March 30, 2017

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