Southeast

Texas A&M Expands Lease to 70,500 SF at 1620 L Street Office Building in D.C.

by John Nelson July 12, 2023

WASHINGTON, D.C. — Texas A&M University has signed a 23,000-square-foot office lease expansion at 1620 L Street, a 171,000-square-foot office building in Washington, D.C. The university, which first signed on at the building in 2020, now occupies approximately 70,500 square feet. Doug Mueller, Evan Behr, Nathan Beach and Thomas Myers of JLL represented the landlord, DivcoWest, in the lease negotiations. Doug Damron and Chris Lucey of Newmark represented Texas A&M. Texas A&M uses 1620 L Street as a “beachhead” location for students in the D.C. area. The building houses the university’s Bush School of Government and Public Service and includes classrooms, conference rooms, study lounges, collaborative/huddle rooms, an admissions center, catering kitchen, snack and beverage stations and a 150-seat theater/lecture hall.

July 12, 2023

Acquisitions Hospitality South Carolina Southeast

Hunter Hotel Advisors Arranges Sale of 179-Room Holiday Inn Hotel in Charleston

by John Nelson July 12, 2023

CHARLESTON, S.C. — Hunter Hotel Advisors has arranged the sale of Holiday Inn-Charleston Riverview, a 179-room hotel situated along the Ashley River in Charleston. The seller, Charlotte-based Park Place Hospitality Group, recently completed a full renovation to the hotel prior to the sale. A partnership led by Rick Patton of Rio Partners purchased the hotel for an undisclosed price. Robert Taylor and Sophia Pittaluga of Hunter’s Miami office represented Park Place Hospitality in the transaction.

July 12, 2023

Acquisitions Florida Retail Southeast

Ian Black Real Estate Brokers $8.2M Sale of Retail Center in Sarasota, Florida

by John Nelson July 12, 2023

SARASOTA, FLA. — Ian Black Real Estate has brokered the $8.2 million sale of Crowder Plaza, a 25,000-square-foot retail center located at 2507 Lakewood Ranch Blvd. in Sarasota. Shadow-anchored by Ace Hardware, the center was fully leased at the time of sale to tenants including Big Top Brewery, Goodwill, The Granary, Blossom Nails, The Boutique Out East, Premier Tackle and Domino’s Pizza. George Brusco of Ian Black Real Estate represented the seller, an entity doing business as Crowder Enterprises LLC, in the transaction. Marny Lewis of Berkshire Hathaway HomeServices, Florida Realty represented the buyer, an entity doing business as Crowder Village LLC. Brusco has managed the leasing for Crowder Plaza since 2014.

July 12, 2023

Leasing Activity Maryland Mixed-Use Retail Southeast

Chasen Cos. Adds Puttshack to The Whitney Mixed-Use Building in Baltimore’s Harbor East District

by John Nelson July 12, 2023

BALTIMORE — Chasen Cos. has signed interactive mini-golf retail concept Puttshack to join the tenant roster at The Whitney, a five-story mixed-use building in Baltimore’s Harbor East neighborhood. The historic property was originally the home of the Meyer Seed Co. Set to open in late 2024, the Baltimore Puttshack will be the brand’s first location in Maryland. The almost 25,000 square-foot space will feature three nine-hole mini-golf courses, as well as private event space, two full-service bars and an outdoor patio space with seating for almost 50 patrons. Since opening its first location in 2018, Chicago-based Puttshack now has nine locations in the United States: Atlanta, Boston, Chicago, Miami, Denver, Houston, Pittsburgh, Scottsdale and St. Louis, as well as four in the United Kingdom. Puttshack plans to open Dallas and Nashville venues by the end of the year.

July 12, 2023

Development Florida Mixed-Use Restaurant Retail Self-Storage Southeast

PEBB, Banyan Underway on 10-Acre Mixed-Use Project in Delray Beach, Florida

by John Nelson July 11, 2023

DELRAY BEACH, FLA. — PEBB Enterprises and Banyan Development have started construction on Atlantic II, a 10-acre mixed-use project located at 8778 W. Atlantic Ave. in Delray Beach. Upon completion, which is scheduled for mid-2024, the development will feature a 10,000-square-foot, multi-tenant retail building, 100,000 square feet of self-storage space and a car wash outparcel. The outparcel is currently under contract for sale, and Paradise Grills has signed a lease to occupy 6,000 square feet in the retail building. Liberty Investment Properties, which develops self-storage properties, is partnering with the joint venture on the development.

July 11, 2023

Development Florida Multifamily Southeast

Thompson Thrift to Develop 257-Unit Apartment Community in Sarasota, Florida

by John Nelson July 11, 2023

SARASOTA, FLA. — Thompson Thrift has announced plans for the development of The Concord, a 257-unit apartment community to be constructed on 8.5 acres in Sarasota. Upon completion, the property will feature units in one-, two- and three-bedroom layouts. Amenities at the community will include a fitness center, heated swimming pool, outdoor entertainment and grilling areas, a dog run and pet spa, social hub and work-from-home suites. Completion of the development is scheduled for fall 2024.

July 11, 2023

Acquisitions Florida Office Southeast

Ashkenaz Purchases 61,702 SF Beachway Professional Center Office Building in Bonita Springs, Florida

by John Nelson July 11, 2023

BONITA SPRINGS, FLA. — Ashkenaz USA has purchased Beachway Professional Center, a 61,702-square-foot office building located on Bonita Beach Road Southwest in Bonita Springs. Rainer Filthaut of International Realty Corp. represented Ashkenaz in the $14.4 million transaction. Dave Wallace and David Wallace of CRE Consultants represented the undisclosed seller and will continue to manage leasing at the property, which was fully occupied at the time of sale.

July 11, 2023

Alabama Loans Multifamily Southeast

Berkadia Arranges $13M Refinancing for Multifamily Community in Riverside, Alabama

by John Nelson July 11, 2023

RIVERSIDE, ALA. — Berkadia has arranged a $13 million loan for the refinancing of RiverHouse Apartments, a multifamily community located in Riverside. Located at 300 Riverhouse Loop, the property comprises 144 units and was recently renovated. Tom Genetti of Berkadia secured the financing through Fannie Mae on behalf of the borrower, Birmingham-based The Oakley Group.

July 11, 2023

Acquisitions Hospitality Louisiana Southeast

Marcus & Millichap Brokers $4.5M Sale of Travelodge Hotel in Metro New Orleans

by John Nelson July 11, 2023

HARVEY, LA. — Marcus & Millichap has brokered the $4.5 million sale of Travelodge by Wyndham – New Orleans, a 212-room hotel located in Harvey, roughly seven miles outside downtown New Orleans. Constructed in 1971 on 3.8 acres at 2200 Westbank Expressway, the hotel comprises 125,539 square feet. David Altman, Adam Sklaver and Philip Kates of Marcus & Millichap marketed the property, which sold in auction, on behalf of the seller, New York-based Hong Park.

July 11, 2023

Acquisitions Florida Hospitality Southeast

CBRE Secures Sale of Two Hotels Within Dania Pointe Development in South Florida

by John Nelson July 10, 2023

DANIA BEACH, FLA. — CBRE has secured the sale of two adjacent hotels within the 102-acre Dania Pointe mixed-use development in Dania Beach, an oceanfront city in Broward County. The properties, Hyatt House and Hyatt Place, total 292 rooms and are surrounded by more than 1 million square feet of office and retail space, as well as 1,000 apartments within Dania Pointe. Florida-based Kolter Hospitality purchased the hotels for an undisclosed price. Christian Charre, Paul Weimer and Jennifer Jin of CBRE represented the undisclosed seller in the transaction.

July 10, 2023

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