Southeast

Home Depot Sells Land to Ferber Development in Metro Atlanta

by John Nelson June 14, 2016

CANTON, GA. — The Home Depot has sold a 1.9-acre tract of land located at the intersection of Sixes Road and Holly Springs Parkway in Canton, a northern suburb of Atlanta in Cherokee County. Keith Valentine of Atlanta-based Corporate Property Dispositions represented The Home Depot in the sale. The buyer, Ferber Development, plans to build a retail strip center at the site that is pre-leased to AT&T and Starbucks Coffee, as well as an outparcel pre-leased to Taco Bell. The new project will be located near The Home Depot and Northside Hospital’s offices.

June 14, 2016

North Carolina Office Southeast

Lincoln Harris’ Capitol Towers in Charlotte Receives LEED Gold Certification

by John Nelson June 14, 2016

CHARLOTTE, N.C. — The U.S. Green Building Council has awarded Capitol Towers, a Class A office campus in Charlotte’s SouthPark submarket, LEED Gold certification. The office park is owned by Lincoln Harris, an affiliate of Lincoln Property Co. Phase I of Capitol Towers, which features the 236,250-square-foot South Office Tower, a parking deck and 25,000 square feet of retail and restaurant space, was opened recently. Phase II, which will feature the 236,250-square-foot North Office Tower, is scheduled for completion in the first quarter of 2017. Sustainability and energy efficient features at Capitol Towers range from an on-site parking deck that provides preferred parking for low emission vehicles to an HVAC system designed to measure and filter air before entering the building.

June 14, 2016

Georgia Hospitality Southeast

Peachtree Hotel Group Acquires 10 Hotels for $183M

by John Nelson June 13, 2016

ATLANTA — Atlanta-based Peachtree Hotel Group has purchased 10 hotels in the Southeast and Midwest for a combined $183 million. Four hotels are under contract for acquisition and the other six properties are in various stages of development. PHG’s management arm will operate all 10 hotels upon closing, which is expected within the next 60 days. The four properties under contract for acquisition span nearly 600 rooms and include two Hampton Inns, an Aloft and a DoubleTree conversion. The six hotels under development represent nearly 700 rooms across four states and include Marriott, Hilton, IHG and Starwood brand affiliations. Peachtree’s current portfolio comprises 65 hotel assets totaling 6,672 rooms.

June 13, 2016

Loans Louisiana Retail Southeast

Wells Fargo Provides $73M Loan for Fremaux Town Center in Louisiana

by John Nelson June 13, 2016

SLIDELL, LA. — Wells Fargo has provided a $73 million, 10-year loan for Fremaux Town Center, a roughly 635,000-square-foot open-air retail shopping center located at the southwest corner of I-10 and Fremaux Avenue in Slidell. Fremaux Town Center is currently 95 percent leased and jointly owned by affiliates of CBL & Associates Properties Inc. and Stirling Properties LLC. The borrowers used proceeds from the loan to retire two existing construction loans.

June 13, 2016

SLS Atlanta Hotel & Residences Midtown Atlanta

Georgia Hospitality Mixed-Use Multifamily Southeast

SBE, Trillist to Develop Hotel, Condo Tower in Midtown Atlanta

by John Nelson June 13, 2016

ATLANTA — Los Angeles-based sbe and Atlanta-based Trillist Cos. Inc. have partnered to develop the SLS Atlanta Hotel & Residences in Midtown Atlanta. The mixed-use tower will feature 213 hotel room and suites, 56 condominium residences, dining options and meeting spaces. Ranging in size from 1,600 to 4,000 square feet, the residences will feature a mix of two-, three- and four-bedroom units. Trillist and sbe plan to break ground on the tower in early 2017 with completion slated for early 2019. Dakota Development, a subsidiary of sbe, will collaborate with Trillist on the property’s design and concept. SLS Atlanta Hotel & Residences will be situated near the Woodruff Arts Center, High Museum of Art, Midtown Mile and Piedmont Park.

June 13, 2016

Georgia Industrial Southeast

CenterPoint Inks 315,810 SF Industrial Lease with Port Logistics Group in Savannah

by John Nelson June 13, 2016

SAVANNAH, GA. — CenterPoint Properties has signed Port Logistics Group Inc. to a long-term, 315,810-square-foot lease at 47 Sonny Perdue Drive in Savannah. The building is located within CenterPoint Intermodal Center near the Georgia Port Authority and the Norfolk Southern Dillard Yard. Situated on 26 acres, the property features 4,785 square feet of office space, 113 trailer parking positions, 50 exterior dock doors, 110 car parking spots, two drive-in doors and reinforced floor slabs. Port Logistics Group is a third-party logistics company that specializes in high-touch distribution for retailers and retail manufacturers through coastal gateway markets. John Simons of NAI Partners and Rex Benton of NAI Mopper Benton represented Port Logistics Group in the lease deal. John Neely and Danny Chase of Colliers International represented CenterPoint.

June 13, 2016

Georgia Office Southeast

GE Digital to Launch $3M Digital Operations Center in Midtown Atlanta

by John Nelson June 13, 2016

ATLANTA — GE Digital, a division of Boston-based General Electric, plans to establish its first global Digital Operations Center in Midtown Atlanta. The $3 million project is expected to create 250 jobs, including positions in system administration and engineering, full-stack operations and engineering and service desk operations. Ashley Morris of the Georgia Department of Economic Development represented the Global Commerce division in partnership with InvestAtlanta, the Metro Atlanta Chamber and Georgia Power. GE plans to open similar hubs in Miami and Providence, R.I., that will support the company’s global infrastructure operations.

June 13, 2016

Market Reports Retail Southeast Southeast Market Reports Tennessee

Memphis Retail Market is a Hotbed for Leasing, Sales Activity and Redevelopments

by John Nelson June 13, 2016

The retail market in Memphis has continued to improve over the past year with new developments now open for business and redevelopment projects popping up across the metro area. Memphis, most commonly known for its blues and barbecue, has recently become the dreamland for those looking to lease, buy or redevelop assets. Vacancy rates are falling, new tenants and stakeholders are entering the market and retail investment sales continue to be in high demand. With several new development projects in the pipeline, the metro area is looking to capitalize on the new infrastructure. Memphis, located in the southwest corner of Tennessee within Shelby County, boasts a large metropolitan statistical area comprising Crittenden County in Arkansas; Benton, DeSoto, Marshall, Tate and Tunica counties in Mississippi; and Fayette and Tipton counties in Tennessee. One of the most attractive features of life in Memphis is the area’s remarkably low cost of living, which has allowed Memphis to become the city where one eats and stays instead of eats and plays, adding increasing demand on the commercial real estate market. According to a variety of real estate professionals doing business in the area, national and international investors and developers are looking to Memphis because …

June 13, 2016

Corporate Oaks Tampa New York Life Insurance Co.

Florida Office Southeast

Cushman & Wakefield Brokers $32M Sale of New York Life Insurance’s Office Campus in Tampa

by John Nelson June 10, 2016

TAMPA, FLA. — Cushman & Wakefield has brokered the $32 million sale of Corporate Oaks, a 186,854-square-foot office campus in Tampa’s Westshore District. New York Life Insurance Co. fully occupies Corporate Oaks and houses its AARP program at the campus, which houses about 920 employees. New York Life Insurance’s lease runs through 2024. Built in 1983, Corporate Oaks is situated on an 11.4-acre site at 5405, 5445 and 5505 W. Cypress St. Connecticut-based Next Generation Net Lease Management LLC purchased the asset, which features an on-site deli, fitness center, three-story parking garage and surface parking. New York Life Insurance has invested $2.7 million in interior upgrades, while the previous owner invested $1.5 million for upgrades to the interior finishes, elevators, HVAC systems and the parking garage. Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield represented the seller in the transaction.

June 10, 2016

Georgia Retail Southeast

Publix Super Markets Buys Shopping Center in Metro Atlanta

by John Nelson June 10, 2016

SNELLVILLE, GA. — Publix Super Markets Inc. has purchased Publix at Centerville, a 68,752-square-foot shopping center located at the southeast corner of Centerville Highway and Centerville-Rosebud Road in Snellville, a Gwinnett County suburb of Atlanta. CBRE’s national retail investment group represented the seller, GDC Properties Inc., in the transaction. Publix at Centerville was 94 percent leased at the time of sale to tenants such as Publix, Subway and GNC.

June 10, 2016

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