WEST PALM BEACH, FLA. — Arden Logistics Parks (ALP), a subsidiary of Arden Group, has purchased a three-building, 195,532-square-foot portfolio of shallow-bay industrial assets in West Palm Beach. The portfolio was more than 98 percent leased to more than 40 tenants at the time of sale. The acquisition marks ALP’s entry into the West Palm Beach market. The seller and sales price were not disclosed.
CHARLOTTE, N.C. — Northwood Investors, along with affiliate firm Northwood Retail, has signed two new restaurant brands from Fox Restaurant Concepts to join the tenant roster at Bowl at Ballantyne, a mixed-use development on the south side of Charlotte. The concepts include North Italia, an Italian restaurant that will occupy 6,480 square feet, and Flower Child, a healthy restaurant chain that will occupy 3,555 square feet. The restaurants will be situated across Bowl Street from each other and will open in 2024. Other committed tenants include Olde Mecklenburg Brewery, Fly Kid Fly, Honeysuckle Gelato, Roosters, drybar and solidcore, among others. Situated within the 2,000-acre Ballantyne master-planned community, the Bowl will also include two residential towers and a concert venue called The Amp Ballantyne.
BYRON, GA. — Halpern Enterprises Inc. has delivered a 2,600-square-foot build-to-suit Starbucks location at 321 N. Highway 49 N in Byron. The Seattle-based coffeehouse chain signed a 10-year net lease at the freestanding property, which is located near I-75 and Robins Air Force Base. Brad Oppenheimer, Caleb Adams and Cary Halpern of Halpern Enterprises teamed up to complete the project. In addition to Starbucks, the Atlanta-based developer has recently delivered three build-to-suit properties in the Southeast for The Learning Experience.
PALM BEACH GARDENS, FLA. — TMRW Sports Group has announced plans for a 250,000-square-foot arena development in Palm Beach Gardens. The project, dubbed SoFi Center, will be the home base for TGL, a new virtual team golf league led by a partnership between golfers Tiger Woods and Rory Mcllroy and sports executive Mike McCarley. The 1,500-seat complex will occupy 11 acres on the Palm Beach Gardens campus of Palm Beach State College. The arena will include a 75-foot high air-supported dome; a football-field sized playing surface with three sand bunkers; a 46-foot by 64-foot simulator screen; a short-game complex; and two plazas outside the venue for hosting pre-match activities. The TGL season, which commercial partner SoFi Technologies will present, is set to begin with a series of matches on primetime television in January 2024. To date, 12 PGA players have committed to playing in the TGL: Tiger Woods, Rory McIlroy, Jon Rahm, Collin Morikawa, Justin Thomas, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Rickie Fowler and Billy Horschel. Six teams of three players will compete in 15 head-to-head matches, followed by semifinals and finals matches. Team names, brands, front office staff and assigned players will be unveiled …
HILTON HEAD ISLAND, S.C. — The Town of Hilton Head Island has awarded its request for proposal (RFP) for the island’s first ever workforce housing community to Atlanta-based OneStreet Residential. The project, preliminarily named Northpoint, will feature 150 to 170 workforce housing units and will be located on an 11-acre tract of town-owned land. The project is envisioned to house the caregivers, teachers, medical professionals and first responders who work on Hilton Head Island. At least half of the units will be reserved for households earning between 60 to 80 percent of the area median income (AMI). OneStreet Residential was selected as the town’s preferred development partner after months of deliberation by town staff and an advisory committee, which included tours of the developer’s projects in Atlanta. OneStreet will begin site due diligence, site planning, engineering and architectural renderings. The development agreement is expected to go before Hilton Head Town Council for a vote in early 2024, with the commitment to maintain the Northpoint community as workforce housing forever.
OAKLAND PARK, FLA. — Newrock Partners has completed Oaklyn, an 11-story mixed-use tower located at 3333 N. Federal Highway in Oakland Park, a city in South Florida’s Broward County. The project comprises 274 apartments and 19,000 square feet of ground-level retail space. Managed by Bozzuto, Oaklyn’s residences comprise studio, one- and two-bedroom apartments spanning from 451 to 1,172 square feet. Rental rates begin at $1,850, according to the property website. Amenities include Oak Three, a rooftop experience with an indoor/outdoor lounge, entertainment kitchen, communal games, art activations, resort-style pool deck, hot tub, outdoor dining and kitchen areas with grilling stations and oversized day beds. Other amenities include podcast studios, maker spaces, an indoor/outdoor fitness center, dog spa and a dog park. The design-build team includes general contractor First Florida and architect Kobi Karp Architecture & Interior Design Inc.
SNELLVILLE, GA. — Northside Hospital and Realty Trust Group (RTG) have opened a new 45,000-square-foot healthcare clinic in downtown Snellville, a suburb of Atlanta in Gwinnett County. RTG partnered with the Atlanta-based hospital system through the planning and development process, including land acquisition, zoning, design and construction phases. Northside is the operator of the two-story medical office, which features imaging, surgery and orthopedics services. Adjacent to the new medical center is a 7,500-squrae-foot sister building that houses an urgent care. The medical buildings are situated on a 4.6-acre site along Wisteria Drive within The Grove at Towne Center development.
SARASOTA, FLA. — Berkadia has brokered the sale of Reserve at Palmer Ranch, a 320-unit apartment community located at 4100 Winners Circle in Sarasota. Jason Stanton, Cole Whitaker and David Etchison of Berkadia represented the seller, California-based Strategic Holdings, in the transaction. John Koeijmans of Berkadia’s Dallas office arranged acquisition financing on behalf of the buyer, Wisconsin-based MLG Capital. The 10-year loan featured a fixed interest rate and full-term interest only payments. The loan amount and sales price were not disclosed. Built in 1990, Reserve at Palmer Ranch features primarily two- and three-bedroom apartments, as well as a fitness studio, two resort-inspired pools, bark park, car care center and a courtyard with communal games.
ACWORTH, GA. — Tobin Real Estate has arranged the $15 million sale of Acworth Crossing Shopping Center, a 120,829-square-foot retail center located on a 15.3-acre site along Cobb Parkway in Acworth, a northwest suburb of Atlanta. Built in 2006, the property’s tenant roster includes Crunch Fitness, PetSmart, popshelf and Dollar Tree. Louie Granteed of Tobin represented the seller, an entity doing business as Monarch at Acworth Crossing LLC, in the transaction. Collin Cambas and Johnny Craig of Matthews Real Estate Investment Services represented the buyer, an entity doing business as Acworth Properties LLC.
Internet connectivity is the digital equivalent of a foundation for any multifamily property. Residents want access for communications, entertainment, business and personal needs. Property operators need connections for management and reporting software resources. Good and reliable connections to the Internet, and a dependable Wi-Fi network as a way of distributing that access, are essential. Looking three to five years into the future, these connectivity needs become even more demanding and complex. The Internet of Things (IoT) creates a layer of interesting application and use cases for property owners. IoT defines the collective network of connected technology that enables communication between devices (“things”) and the cloud and/or among the devices themselves. IoT devices are the technology that creates smart home and buildings. IoT devices also support and simplify functions such as rental property management, energy usage reduction, maintenance cost reduction and more. “Looking into the future, IoT applications can make the property more efficient in surprising ways,” says Eran Dor, vice president of technology products at Pavlov Media. Leak detectors can provide early warning of flooding and appropriately shut off water before any significant damage occurs. Trash cans can be equipped with sensors that indicate when to collect, rather than requiring …
