ATLANTA — Kroger has sold Bouldercrest Distribution Center, a three-building, 528,000-square-foot cold storage/food distribution center in southeast Atlanta, for $14.5 million. Highridge Provender purchased the property, which features a 374,155-square-foot dry grocery warehouse, a 132,184-square-foot freezer warehouse and a 21,119-square-foot truck maintenance building. Kroger has owned the property since 1992, but is in the process of relocating to the 1.2 million-square-foot, build-to-suit Gillem Logistics Center in Forest Park, Ga. Kroger will lease Bouldercrest from Highridge Provender for one year during the transition. Chris Cummings and Turner Wisehart of Colliers International’s Atlanta office represented the buyer in the transaction and will market the project for lease going forward.
JOHNSON CITY, TENN. — Windsor Aughtry Co. Inc. has brokered the $6.3 million sale of Hampton Inn Johnson City, a 77-room hotel located at 508 N. State of Franklin Road in Johnson City. Pleasantburg Hospitality Inc. sold the hotel, which it has owned since the hotel was built in 1995. Jay Alexander and Bill Fayssoux of Windsor Aughtry represented Pleasantburg Hospitality in the transaction.
ATLANTA — Jamestown plans to open the final phase of Ponce City Market known as The Roof at Ponce City Market. Located on the roof of the mixed-use development, the project will feature boardwalk-style amusement games and rides, an 18-hole miniature golf course and a slide. On April 3, The Roof will host a miniature golf tournament organized by the Kyle Korver Foundation, Plywood People and the Jamestown Charitable Foundation. Proceeds from the event, called Putt! Putt! Putt!, will support 18 local charities in Atlanta. The Roof will open to the public in mid-2016. Jamestown hopes to pay homage to the Ponce de Leon amusement park, which was formerly situated at the site of Ponce City Market. Located along the Atlanta BeltLine in the Old Fourth Ward, Ponce City Market features 259 residential units, 550,000 square feet of Class A loft office space, 300,000 square feet of retail and restaurants and a pedestrian bridge linking the interior courtyard and public market to the BeltLine.
FUQUAY-VARINA, N.C. — Blue Heron Asset Management LLC has sold The Village at Marquee Station, a 265-unit, Class A apartment community located at 2110 Cinema Drive in Fuquay-Varina, a suburb of Raleigh-Durham. Chapel Hill, N.C.-based Blue Heron sold the property, which it developed in phases between 2013 and 2014, to Starlight U.S. Multi Family Core Fund for $41.5 million. Toronto-based Starlight Investments Ltd. manages the fund. Allan Lynch and Justin Good of HFF represented Blue Heron in the transaction. The Village at Marquee Station’s units average 996 square feet, and its community amenities include a saltwater swimming pool with cabanas, poolside grilling, fitness center, clubhouse, gaming lounge and media studio, resident lounge with billiards, pet grooming salon, car care center and detached garages. Clancy & Theys Construction was the general contractor for the apartment community, which has maintained an occupancy rate in the mid-90 percent range since early 2015, according to HFF.
HUNTSVILLE, ALA. — Hunter Hotel Advisors has brokered the $14 million sale of Homewood Suites Downtown Huntsville, a 101-room extended stay hotel in downtown Huntsville. The hotel was built in 2014 within the Twickenham Square urban center. Hunter Hotel Advisors represented the seller, PHD Hotels, in the transaction. A New York-based investment firm was the buyer.
KENNESAW, GA. — Preferred Apartment Communities Inc., through its wholly owned subsidiary New Market Properties LLC, has acquired Wade Green Village in Kennesaw, roughly 25 miles outside of Atlanta. The 75,000-square-foot shopping center is anchored by a 47,814-square-foot Publix grocery store. The transaction involved the contribution of Wade Green Village in exchange for Class A units of the company’s operating partnership.
FORT LAUDERDALE, FLA. — Pipeline Workspaces, a company providing shared workspace utilized by entrepreneurs and start-ups, has entered into a 20-year lease for an entire floor at One Financial Plaza, a 28-story office tower located at 100 S.E. Third Ave. in downtown Fort Lauderdale. Pipeline Lauderdale will become the company’s fourth location in South Florida, following the recent opening of Pipeline in Doral’s business district, as well as existing locations in Miami’s Brickell Financial District and Coral Gables’ Central Business District. Pipeline Workspaces will provide shared office space, conference rooms, phone booths, dedicated desks and private offices. The company will join One Financial Plaza’s existing tenants, including Regions Bank, AXA Advisors, Fowler White Burnett and Tower Club. Shay Pope of CBRE represented Pipeline Workspaces in the lease transaction. Jon Blunk, Laurel Oswald and Cristina Glaria of Cushman & Wakefield represented the owner, Crocker Partners. Robert Rausch of Hunton & Williams provided legal counsel to Pipeline.
MIAMI — Construction has begun on Miami Worldcenter, one of the largest urban mixed-use projects in the country, and its signature residential tower, Paramount Miami Worldcenter. This marks the start of the $1.7 billion, 27-acre development’s retail component. “You are literally going to see six blocks being developed all at the same time. This is basically step one of multiple steps in which you are going to see six buildings going vertical,” says Daniel Kodsi, developer and CEO of Paramount Miami Worldcenter. Miami Worldcenter will include Paramount and six other residential and office buildings, an 1,800-room Marriott Marquis and convention center, an intermodal hub and a retail and restaurant promenade. CoastalTishman, a joint venture between Miami-based Coastal Construction and New York-based Tishman Construction, is close to completing the installation of 400 pilings that will support the glass-clad tower designed by Elkus Manfredi Architects in collaboration with Paramount Miami Worldcenter’s in-house design team. Upon completion of the pilings, CoastalTishman will start building the tower’s foundation. The first phase of construction will focus on Paramount Miami Worldcenter, a 700-foot, 60-story residential skyscraper. The $500 million tower will feature one of the largest amenity decks in the country, spanning 90 feet above downtown …
NEW ORLEANS — O’Connor Capital Partners, a New York-based real estate investment and management firm, has acquired The Shops at Canal Place, a 260,000-square-foot shopping center located at the foot of Canal Street and the Mississippi River in New Orleans. O’Connor Capital purchased the property from an affiliate of two New Orleans-based companies, The Berger Co. and Ogden Development, for an undisclosed price. The Shops at Canal Place was 96 percent leased at the time of sale to tenants such as Saks Fifth Avenue, Tiffany’s, Armani Collezioni, L’Occitane, Michael Kors, lululemon athletica, Anthropologie, Brooks Brothers, J. Crew and Banana Republic. The shopping center also features the nine-screen Theatres at Canal Place, Chef Adolfo Garcia’s Gusto Cafe and Bar and a 1,600-space parking garage, which the seller will retain. Peter Bergner and Kate Gilbert of O’Connor Capital Partners’ Palm Beach office will be responsible for leasing the property.
ATLANTA — Hilton Worldwide has signed a franchise agreement to bring Candler Hotel Atlanta to its Curio – A Collection by Hilton brand. REM Associates LP owns the property, which will open as Candler Hotel Atlanta, Curio Collection by Hilton in late 2017 following extensive renovations. The hotel is situated in downtown Atlanta and neighbors Woodruff Park, Georgia State University’s Balzer Theatre and Rialto Center for the Arts. REM has selected Highgate Hotels to manage the hotel, which was formerly known as the Candler Building, a 110-year-old office building and Atlanta’s first steel skyscraper. Development Services Group is developing the hotel, and REM is partnering with The Beck Group for design-build architecture and construction services and NICOLEHOLLIS for interior design. Upon completion, the hotel will feature 265 guestrooms, an outdoor rooftop space and a grand lobby with a white marble staircase, original Tiffany windows and a restaurant and bar.