Southeast

Faropoint Purchases Three-Property Industrial Portfolio in Charlotte for $33M

by John Nelson September 14, 2023

CHARLOTTE, N.C. — Faropoint has purchased a three-property industrial portfolio in Charlotte for $33 million. The infill assets include a 45,750-square-foot facility at 4112 Joe St., a 200,000-square-foot building at 2101 Westinghouse Blvd. and a 67,200-square-foot property at 9701 Brookford St. Patrick Gildea, Robert Hardaway, Matt Smith, Grayson Hawkins, Anne Johnson, Bryan Crutcher, Trey Barry and Frank Fallon of CBRE represented the seller, Beacon Partners, in the transaction. Hoboken, N.J.-based Faropoint entered the Charlotte market earlier this year with the acquisition of a 56,846-square-foot facility at 10000 Industrial Drive in Pineville, N.C. Last year, Faropoint entered the Baltimore and Long Island industrial markets. Next year, the company plans to expand its footprint to the West Coast.

September 14, 2023

Acquisitions Maryland Retail Southeast

KLNB Brokers $10.4M Sale of Edgewood Plaza Shopping Center in Metro Baltimore

by John Nelson September 14, 2023

EDGEWOOD, MD. — KLNB has brokered the $10.4 million sale of Edgewood Plaza, a 76,000-square-foot shopping center located at 2204-2250 Hanson Road in Edgewood, about 28 miles northeast of downtown Baltimore. Food Lion and Dollar General have anchored the center since 1999 and 2004, respectively. Edgewood Plaza was 96 percent leased at the time of sale. The seller, Sandmar Properties, recently resurfaced the center’s parking lot, replaced the roof and repainted the façade. Chris Burnham, Andy Stape, Vito Lupo and Jake Furnary of KLNB represented the seller in the transaction. The buyer was an unnamed local investor.

September 14, 2023

Development Industrial North Carolina Southeast

Poettker Construction Delivers 946,000 SF Second Phase of Gateway85 Industrial Park in Metro Charlotte

by John Nelson September 13, 2023

GASTONIA, N.C. — Poettker Construction has delivered the second phase of Gateway85, a 300-acre industrial park in the west Charlotte suburb of Gastonia. Developed by NorthPoint Development, the park is located near I-85 to the south and N.C. Highway 7 to the north. Phase II features Building 4, a 241,000-square-foot rear-load warehouse with 36-foot clear heights and 22 dock doors (expandable to 45), and Building 7, a 705,000-square-foot cross-dock warehouse with 40-foot clear heights and 70 dock doors (expandable to 140). The second phase spans 55 acres. At full build-out, Gateway85 will comprise 3.6 million square feet of industrial space.

September 13, 2023

Development Georgia Multifamily Southeast

Woodfield Development Begins Leasing 276-Unit Holden at Oak Grove Apartments in Athens, Georgia

by John Nelson September 13, 2023

ATHENS, GA. — Woodfield Development has begun leasing Holden at Oak Grove, a 276-unit apartment community located at 110 Addison Road in Athens’ Oak Grove neighborhood. Operated by Atlanta-based RangeWater Real Estate, the property will feature one-, two- and three-bedroom apartments, as well as a game room, coworking spaces, private workstations, fitness center, yoga room, dog spa, outdoor grills and a swimming pool. Shelton Taylor + Associates handled interior design at Holden at Oak Grove, with finishes including two-tone shaker cabinets, stainless steel appliances, two-panel doors and matte black accents. Floor plans range from 649 to 1,342 square feet and rental rates range from $1,445 to $2,182, according to the property website.

September 13, 2023

Acquisitions Georgia Retail Southeast

JLL Brokers Sale of Publix-Anchored Shopping Center in Sandy Springs, Georgia

by John Nelson September 13, 2023

SANDY SPRINGS, GA. — JLL has brokered the sale of Trowbridge Crossing, a 62,558-square-foot shopping center located in Sandy Springs, a northern suburb of Atlanta. Publix anchors the property, and other tenants include T-Mobile, North Springs Animal Clinic, Erawan Organic Thai, Domino’s, USPS, Luxy Nails, Hong Kong City and The UPS Store. Jim Hamilton, Brad Buchanan, Andrew Michols and Anton Serafini of JLL represented the seller, InvenTrust Properties Corp., in the transaction. West Palm Beach, Fla.-based FrostPoint Capital acquired the center for an undisclosed price.

September 13, 2023

Industrial Leasing Activity South Carolina Southeast

Dalfen Signs AERO Logistics to 80,914 SF Industrial Lease in Charleston

by John Nelson September 13, 2023

CHARLESTON, S.C. — Dallas-based Dalfen Industrial has signed AERO Logistics to an 80,814-square-foot lease at Eastport Distribution Center in Charleston. The tenant, which supports refrigerated supply chain efforts for third-party logistics, freight forwarding and airline cargo users, signed the five-year lease. Kevin Coats and Lee Allen of JLL represented Dalfen in the lease negotiations. Eastport Distribution Center is situated near I-26 and within 2.5 miles from Charleston International Airport.

September 13, 2023

Acquisitions Alabama Life Sciences Southeast

Stirling Arranges Sale of 30,000 SF Life Sciences Facility in Birmingham

by John Nelson September 13, 2023

BIRMINGHAM, ALA. — Stirling has arranged the sale of a 30,000-square-foot life sciences facility located at 100 Lucerne Lane in Birmingham. The property, which features office, wet lab and warehouse space, is situated on 5.7 acres within Oxmoor South Industrial Park. The buyer, Birmingham Water Works, is planning to make capital improvements at the property, which will be used for the organization’s new EnviroLab facility. The company oversees the water supply for more than 770,000 people in Birmingham and the surrounding counties. Juhmad Hollis and Melissa Warren of Stirling represented the buyer in the transaction. The seller and sales price were not disclosed.

September 13, 2023

Georgia Loans Seniors Housing Southeast

Grandbridge Provides $426.8M Agency Refinancing for Seniors Housing Portfolio

by John Nelson September 12, 2023

ATLANTA — Grandbridge Real Estate Capital’s Seniors Housing and Diversified Healthcare Finance Group has provided $426.8 million in financing for a seniors housing portfolio. The borrower is a publicly traded healthcare REIT. The portfolio comprises 19 seniors housing properties across 10 states and was financed by an agency lender. Further details on the borrower, properties and financing were not disclosed. Richard Thomas, Todd Paradis and Meredith Davis led the transaction for Atlanta-based Grandbridge.

September 12, 2023

Florida Hospitality Loans Southeast

Pebblebrook Completes $140M Refinancing for Margaritaville Hollywood Beach Resort in South Florida

by John Nelson September 12, 2023

HOLLYWOOD, FLA. — Pebblebrook Hotel Trust has refinanced the Margaritaville Hollywood Beach Resort, a 369-room lodging property located at 111 N. Ocean Drive in South Florida. The hotel REIT purchased Margaritaville Hollywood in 2019 for $270 million. The new $140 million loan features a three-year term with two one-year extension options and a fixed interest rate of 7 percent. Wells Fargo Securities LLC served as the sole lead arranger for a syndicate of lenders for the loan, and Wells Fargo Bank NA will serve as administrative agent for the new mortgage. Pebblebrook Hotel Trust is using cash to repay the remaining $21.5 million from the previous CMBS loan. Built in 2015, Margaritaville Hollywood features 450 linear feet of direct beach frontage, food-and-beverage options, a spa, outdoor pools, kids club and entertainment venues.

September 12, 2023

Development Industrial North Carolina Southeast

Beacon Partners to Expand Carolina Logistics Park in Pineville, North Carolina by 434,500 SF

by John Nelson September 12, 2023

PINEVILLE, N.C. — Beacon Partners has begun the expansion of Carolina Logistics Park, a 288-acre industrial park in Pineville that currently spans more than 3.5 million square feet. The expansion will add two new buildings totaling 434,500 square feet, with build-out options starting at 21,615 square feet. The buildings will feature 32-foot clear heights, build-to-suit offices, concrete truck courts, automobile and trailer parking and ESFR sprinkler systems. The project team includes general contractor The Conlan Co., Merriman Schmitt Architects and Orsborn Engineering Group. CIBC Bank USA is providing financing for the new buildings. Beacon Partners expects to deliver the expansion in mid-year 2024. Tim Robertson will handle the leasing assignment for the project on an internal basis. Beacon Partners recently completed a 900,000-square-foot expansion across three buildings within the park. W.W. Grainger Inc. occupies 525,624 square feet within that section. Other tenants at the overall Carolina Logistics Park include Amazon, Carolina Foods and Empire Distributors.

September 12, 2023

Newer Posts

Older Posts