Southeast

Buckingham Cos. Tops Out 600,000 SF Aertson Midtown in Nashville

by John Nelson April 29, 2016

NASHVILLE, TENN. — Indianapolis-based Buckingham Cos. has topped out Aertson Midtown, a 17-story, 600,000-square-foot mixed-use development in Nashville. Upon opening in early 2017, Aertson Midtown will feature 35,000 square feet of ground-level retail, 350 upscale apartments, a 180-room Kimpton hotel with 6,500 square feet of meeting space and 630 parking spaces. Caviar & Bananas, a Charleston-based gourmet market and café, will occupy 6,600 square feet of retail space with a planned spring 2017 opening. Aertson Midtown’s amenities for residents and guests will include a 17th-floor roof terrace, eighth-floor pool deck and cabanas, bike garage, pet park and a fitness center.

April 29, 2016

Florida Multifamily Seniors Housing Southeast

Allegro Senior Living Breaks Ground on $45M Luxury Seniors Community in Central Florida

by John Nelson April 29, 2016

CASSELBERRY, FLA. — Allegro Senior Living has broken ground on an unnamed luxury seniors housing community in the northern Orlando suburb of Casselberry. Development costs are estimated at $45 million. Located on a 17.3-acre site, the new community will include 158 units of independent living, assisted living and memory care in 175,000 square feet of space. Allegro expects the first residents to move in sometime in summer 2017. Besselo Design Group provided architectural design services, and Welbro Building Corp. will provide construction services. Allegro is a developer and operator based in St. Louis with 10 communities in Florida and Kentucky.

April 29, 2016

Florida Multifamily Southeast

Marcus & Millichap Brokers $41M Sale of Multifamily Portfolio in Tampa Bay Area

by John Nelson April 29, 2016

TAMPA, FLA. — Marcus & Millichap has arranged the $41 million sale of a five-property, 735-unit apartment portfolio in the Tampa Bay area. The properties include the 176-unit Palms at Cedar Trace, 212-unit Palms at Sand Lake and the 130-unit Palms at Ashley Oak in Tampa; the 125-unit Palms at Palisades in Brandon; and the 92-unit Palms at Cortez in Bradenton. Frank Carriera and Michael Regan of Marcus & Millichap’s Tampa office represented the seller and procured the buyer.

April 29, 2016

Georgia Retail Southeast

Cabela’s to Open New 70,000 SF Store in Metro Atlanta

by John Nelson April 29, 2016

MCDONOUGH, GA. — Cabela’s Inc. plans to open a new 70,000-square-foot store off I-75 in the south Atlanta suburb of McDonough. The new store will anchor Jodeco | Atlanta South, a $300 million mixed-use development that RCP Cos. is developing in Henry County. Cabela’s is the first confirmed tenant in the project. The outdoor retailer plans to open the new location in the fall of 2017. The McDonough location will be Cabela’s fourth Georgia store, joining existing stores located in Augusta, Acworth and Fort Oglethorpe. Cabela’s expects to employ approximately 130 full-time, part-time and seasonal employees at the store. The McDonough Cabela’s will include an archery and firearm tech room, indoor archery range and a “Bargain Cave,” along with thousands of outdoor products displayed using a new floor plan that emphasizes hunting, fishing, camping and recreational shooting.

April 29, 2016

Loans Multifamily North Carolina Southeast

Financial Federal Bank Arranges $19M Acquisition Loan for Apartment Community in Wilmington

by John Nelson April 29, 2016

WILMINGTON, N.C. — Financial Federal Bank has arranged a $19 million acquisition loan for Abbotts Run Apartments, a 264-unit multifamily community in Wilmington. Built in 2001, the garden-style property was 94 percent occupied at the time of financing. Rick Wood and Jon Van Hoozer of Financial Federal arranged the seven-year, floating-rate loan with two years of interest-only payments and a 30-year amortization schedule through Freddie Mac.

April 29, 2016

Civic Florida Southeast

Williams Co. Building Division Breaks Ground on $60.7M School in Downtown Orlando

by John Nelson April 28, 2016

ORLANDO, FLA. — Orlando-based Williams Co. Building Division has broken ground on a new $60.7 million school located at 701 W. Livingston St. in downtown Orlando on behalf of Orange County Public Schools. The unnamed school will serve roughly 1,211 preschool to eighth grade students on its 14-acre campus. The preschool wing is being supported by the Harris Rosen Foundation and a branch of the Boys & Girls Club. Construction on the 190,526-square-foot facility is slated for completion in summer 2017 in time for the school’s fall 2017 opening. Orlando-based Baker Barrios Architects designed the project.

April 28, 2016

Industrial North Carolina Office Southeast

Cushman & Wakefield Arranges Largest Industrial/Office Sale in Triangle Year-to-Date

by John Nelson April 28, 2016

MORRISVILLE AND RALEIGH, N.C. — Cushman & Wakefield has arranged the largest industrial/office sale in the Triangle region year-to-date, according to Real Capital Analytics. The sale included EastRidge at Perimeter Park in Morrisville and Spring Forest Business Center in Raleigh. The properties span 11 single-story buildings totaling 634,617 square feet. The sales price was not disclosed. The portfolio was 83 percent leased at the time of sale to 24 tenants including IXIA, Adreima, LabCorp, Ascom North America and Allstate. David Finger and Sara Owen of Cushman & Wakefield represented the seller in the transaction. The buyer, Somerset Properties, will retain Hillman Duncan and Dennis Hurley of Cushman & Wakefield to lease the two properties.

April 28, 2016

Florida Loans Seniors Housing Southeast

SunTrust Provides $39M Loan for Seniors Housing Expansion in Orlando

by John Nelson April 28, 2016

ORLANDO, FLA. — SunTrust Bank has provided a $39 million loan to Orlando Senior Health Network, which the owner-operator will use to expand Orlando Lutheran Towers in Orlando. The project will add 33 skilled nursing beds to the continuing care retirement community, along with 45 new full-time employees to serve the new residents. The $39 million loan includes both funds for capital improvements and refinancing of existing debt. Renovations are scheduled to begin this summer with the project scheduled for completion in 2018.

April 28, 2016

Retail Southeast Tennessee

Marcus & Millichap Brokers Sale of Franklin Square in Johnson City

by John Nelson April 28, 2016

JOHNSON CITY, TENN. — Marcus & Millichap has arranged the sale of Franklin Square, an 85,000-square-foot, grocery-anchored shopping center located at 1805 W. State of Franklin Road in Johnson City. Anchored by a 55,000-square-foot Kroger, Franklin Square was 93 percent leased at the time of sale to tenants such as Citizens Bank, Cost Cutters, Giovanni’s, Iron Horse, Jersey Mike’s and Miso Teriyaki House. Brian Munn of Marcus & Millichap’s Atlanta office procured the buyer, a 1031 exchange investor. Farhan Kabani of Mark One Capital, a subsidiary of Marcus & Millichap, arranged acquisition financing. Jody McKibben of Marcus & Millichap’s Nashville office is the firm’s broker of record in Tennessee.

April 28, 2016

North Carolina Retail Southeast

Lincoln Harris Arranges Five Leases at the Arboretum at Weston in Cary

by John Nelson April 28, 2016

CARY, N.C. — Lincoln Harris’ Raleigh office has brokered five leases totaling nearly 14,000 square feet at The Arboretum at Weston, an 80,000-square-foot mixed-use development located at the intersection of Harrison Avenue and Weston Parkway in Cary. Kaler Walker and John Mikels of Lincoln Harris represented the landlord, The Arboretum at Weston Holdings LLC, on all five leases. The deals include M/I Homes leasing 4,739 square feet for a sales center; Moe’s Southwest Grill renewed its 3,812-square-foot lease; GolfTEC renewed its 2,420-square-foot lease; Le Coiffure Hair Studio signed a lease for 1,571 square feet; and Dream Home Design for a 1,272-square-foot sales center and showroom. Michael Deaton of Deaton Investment Real Estate represented Le Coiffure Hair Studio in its lease deal. With the recent signings, the retail space at The Arboretum is almost fully leased. The center has two spaces totaling approximately 3,800 square feet available.

April 28, 2016

Newer Posts

Older Posts