EVANS, GA. — Cushman & Wakefield has arranged the sale of Ansley at Town Center, a 358-unit apartment community in the Augusta suburb of Evans. The Shoptaw Group purchased the property from Spyglass Capital Partners for an undisclosed price. Taylor Bird, Nelson Abels, Laura Aylor and Jaime Slocumb of Cushman & Wakefield represented the seller in the transaction. Built in 2009 and 2012, Ansley at Town Center features a clubhouse with billiards and a coffee bar, business center, fitness center, saltwater pool and sundeck, pet play area, Luxer package locker room and grilling stations.
Southeast
Marcus & Millichap Brokers Sale of 200-Unit Olde Salem Village Apartments in Shreveport, Louisiana
by John Nelson
SHREVEPORT, LA. — Marcus & Millichap has brokered the sale of Olde Salem Village, a 200-unit apartment community located at 6725 Buncombe Road in Shreveport. John Hamilton, Bryan Sisk and David Dorris of Marcus & Millichap represented the seller, Continental Foundation Inc., in the transaction. An entity doing business as Thara Properties LLC purchased the community for an undisclosed price. Built in 1984 on 14.5 acres, Olde Salem Village features a clubhouse, pool and a basketball/tennis court.
STERLING, VA. — The Laramar Group has acquired Sterling Medical Plaza, a 35,406-square-foot medical office building located at 46440 Benedict Drive in Sterling, a suburb of Washington, D.C. The investment firm purchased the two-story property via Laramar Medical Properties Fund I for an undisclosed price. The seller was also not disclosed. Built in 1986 and renovated in 2021, Sterling Medical Plaza was 85 percent leased at the time of sale to tenants including Loudoun Medical Group, INOVA Health and Concentra.
Content PartnerDevelopmentFeaturesLeasing ActivityMidwestMultifamilyNortheastPavlov MediaSoutheastTexasWestern
Multifamily Operators Adopt Property-Wide Internet Access as New Standard Amenity
Multifamily residents want to take their internet connections with them beyond their unit’s four walls and throughout the complex. The National Multifamily Housing Council has found for years that 90 percent of renters say good internet access is a necessity. But the meaning of good connectivity has changed. “Ten, fifteen or twenty years ago, the most popular trend was cocooning — where people would go to work, come home and run into their apartment. They’d close the door, and you wouldn’t hear or see from them again until the next day,” says Bryan Rader, president of MDU at internet service provider Pavlov Media. “Today, multifamily renters spend more time around the community,” he continues. “Developers are playing to that lifestyle change by building amenities and encouraging residents to spend time together. Having a really strong managed Wi-Fi network that is safe, secure and authenticates the user is very valuable.” Put more simply, Wi-Fi within amenities is important to renters. Take fitness centers, for example. When was the last time you saw anyone on a treadmill without headphones relaying music from the internet through a phone or tablet? The move toward property-wide internet demand started in universities as students needed internet …
Woodfield Development Begins Leasing 426-Unit Cordelia Apartments in Wilmington, North Carolina
by John Nelson
WILMINGTON, N.C. — Woodfield Development has begun leasing The Cordelia, a new 426-unit apartment community underway in the coastal North Carolina city of Wilmington. Situated between Wrightsville and Carolina Beach at 4711 Azalea Landing Drive, the development will feature a mix of studio, one-, two- and three-bedroom apartments designed by Shelton Taylor. Amenities will include a resort-style pool with poolside cabanas and lap lanes, an indoor-outdoor fitness center, dog park and dog spa, coworking space, game room, pickleball courts, local coffee and cold brew on tap, community walking trail, resident lounge, gas grills and outdoor dining spaces. Rental rates range from $1,515 to $2,514 per month, according to the property website.
Coro Realty Acquires 153,486 SF Noonday Creek Crossing Shopping Center in Kennesaw, Georgia
by John Nelson
KENNESAW, GA. — Coro Realty has acquired Noonday Creek Crossing, a 153,486-square-foot shopping center located at 2911 George Busbee Parkway in Kennesaw, a northern suburb of Atlanta. An affiliate of Fletcher Bright Co. sold the retail center to Coro Realty for an undisclosed price. Situated on 15 acres adjacent to Kennesaw State University’s sports and entertainment complex, Noonday Creek Crossing was fully leased at the time of sale to tenants including Burlington, PGA Tour Superstore and Medici Medical Arts Center. The shopping center was built in 1996 and renovated in 2005. Zach Taylor of Institutional Property Advisors brokered the sale. Richard Henry, Mike Ryan, Brian Linnihan and J.P. Cordeiro of CBRE arranged an $8.6 million acquisition loan through Affinity Bank on behalf of Coro Realty.
TAMPA, FLA. — Berkadia has brokered the sale of Berkshires at Citrus Park, a 264-unit apartment community located at 6201 Gunn Highway in Tampa’s Citrus Park submarket. Boston-based Berkshire Residential sold the property to Nuveen Real Estate for an undisclosed price. Matt Mitchell, Jason Stanton and Bailey Smith of Berkadia represented the seller in the transaction. Built in 2000, amenities at the garden-style property include a resort-style swimming pool with a sun deck, fitness and cardio center, clubhouse with business center, gated access, lake with fountain and fishing pier, two dog parks and a picnic area.
MIAMI — The Container Store and Sweet Paris Creperie & Café have signed leases to join the tenant roster at Miami Worldcenter. The Container Store will occupy 15,681 square feet and Sweet Paris will occupy 2,330 square feet at the $6 billion, 27-acre mixed-use development underway in downtown Miami. Both retailers are set to open by the end of 2024. Miami Worldcenter Associates, led by developers Art Falcone and Nitin Motwani, is the master developer of Miami Worldcenter in partnership with CIM Group. More than 90 percent of the development’s 300,000 square feet of planned retail, dining and entertainment space has been leased, according to the developers. CIM Group and The Comras Co. are leading retail leasing.
WASHINGTON, D.C. — Newmark has arranged a 27,581-square-foot office lease at 11 Dupont, a six-story, 153,228-square-foot office building in Washington, D.C.’s Dupont Circle district. The tenant is American Enterprise Institute (AEI), a public policy think tank. Brendan Owen, Ed Clark and Max Planning of Newmark represented the landlord, The RMR Group, in the lease transaction. Mark Wooters and Aaron Pomerantz of Cushman & Wakefield represented AEI. The RMR Group recently completed a multimillion-dollar renovation to 11 Dupont.
ORLANDO, FLA. — Toll Brothers Campus Living and The Davis Cos. have unveiled plans to develop Aperture, a 680-bed student housing community situated adjacent to the University of Central Florida (UCF) in Orlando. The project will encompass two buildings and rise five stories. Located at 12727 E. Colonial Drive, Aperture will feature a fitness center, e-sports gaming center, computer lounge, content creation studio, LuxerOne package locker system, courtyard and resort-style pool. Residents will have access to a private shuttle to campus, as well as a parking garage with electric vehicle charging stations. Completion is slated for fall 2025. TD Bank provided a $50 million construction loan for the project. Toll Brothers’ in-house finance department arranged the equity and debt. According to the developers, UCF has the second largest on-campus enrollment of any public university in the U.S. with almost 70,000 students enrolled in the 2022-2023 academic year. “Demand for elevated student housing continues to rise across the country as highly amenitized offerings gain prevalence in the market, especially in the Sun Belt region,” says Jerry Murphy, managing director of investments at Davis. Toll Brothers Campus Living will manage the property’s development, construction and asset management, as well as handle marketing …