Southeast

Quest Workspaces Expands to 25,947 SF in Downtown West Palm Beach

by John Nelson February 21, 2023

WEST PALM BEACH, FLA. — Quest Workspaces, a female-owned developer and operator of flexible office spaces, has expanded to occupy 25,947 square feet in downtown West Palm Beach, doubling its previous footprint. The company has been a tenant within the 21-story tower at 515 N. Flagler Drive for nearly 10 years. Vanderbilt Office Properties is the landlord of the building, which features an 11,000-square-foot rooftop garden, gym, two restaurants, a coffee shop, security desk, concierge, shoe-shining station, car wash and a salon. Quest’s amenities include treadmill desks, phone booths, chat rooms, a touchdown space, networking area and a garden wall.

February 21, 2023

Development Market Reports Southeast Southeast Market Reports Tennessee

Tennessee’s Appeal Process Allows Nashville Taxpayers to Challenge Assessments for New Construction

by John Nelson February 21, 2023

Over the past decade, Nashville has enjoyed a baffling explosion of growth that sent cranes shooting up all over the city, festooned with developer names like Bell, Clark and Giarratana. Highrise towers of glass and steel rose out of the old rail yards like the emerging monolith in the opening scene of “2001: A Space Odyssey” multiplied in a funhouse mirror. The Metropolitan Government is eager to add new projects to its tax rolls, and its Assessor of Property decides when and how that happens. The assumptions made by the assessor’s office about a project’s cost and timing dictate how quickly and how much a new building is taxed. So, as always, taxpayers need to keep an eye on what the assessor is doing. The assessor’s difficult job has become even more complicated in the post-COVID quagmire of supply chain failures. Twelve-month projects have stretched into 24-month projects, and the assessor’s assumptions about completion times have been thrown out of whack. To make matters worse, Tennessee’s property tax statutes were not designed to give relief for construction delays or lengthy projects, and now the clock is ticking. Assessing new construction The last Davidson County reappraisal was in 2021, and the …

February 21, 2023

Development Florida Multifamily Southeast

Estate Cos. Breaks Ground on Eight-Story Apartment Community in South Florida

by John Nelson February 20, 2023

POMPANO BEACH, FLA. — The Estate Cos. (EIG) has broken ground on Soleste Pompano Beach, an eight-story multifamily project located at 208 N. Federal Highway in South Florida’s Broward County. Upon completion, the community will feature 253 apartments in one- and two-bedroom configurations and 4,000 square feet of commercial space. Amenities will include a pool and sun deck, fitness center and a picnic area. The property will also include a parking garage with 367 spaces and an additional 11 spaces at ground level.

February 20, 2023

Acquisitions Georgia Multifamily Southeast

Crown Bay Group Purchases Cameron Run Apartment Community Near Atlanta for $35M

by John Nelson February 20, 2023

EAST POINT, GA. — Crown Bay Group LLC has purchased Cameron Run, a workforce housing community in East Point, for $35 million. Located at 4395 Washington Road, the property comprises 284 units in one-, two- and three-bedroom layouts. Originally built in 1972, the community recently underwent $1 million in capital improvements and features a gym, playground, artificial turf sports field and a dog park. Cameron Run was 93 percent occupied at the time of sale. Crown Bay Group plans to hold the property for three to five years and make capital improvements. The seller and sales price were not disclosed.

February 20, 2023

Acquisitions Georgia Retail Southeast

Colliers Arranges Sale of 65,785 SF Shopping Center in Metro Atlanta

by John Nelson February 20, 2023

DECATUR, GA. — Colliers has arranged the sale of Sam’s Crossing, a 65,785-square-foot shopping center located in Decatur, a suburb northeast of Atlanta. Publix Super Markets anchors the center and was the buyer in the transaction. In addition to the new, 53,785-square-foot grocery store, tenants at the property include DECA Dental, Planet Smoothie, Jersey Mike’s and Jeremiah’s Italian Ice. Joe Montgomery, Scott Israel and Henry Kushner of Colliers’ Retail Investment Sales team represented the seller, Alliance Realty Services, in the transaction. The sales price was not disclosed.

February 20, 2023

Development Florida Leasing Activity Restaurant Retail Southeast

Asana Partners Adds Five New Tenants to Sunset Harbour Retail Center in Miami Beach

by John Nelson February 20, 2023

MIAMI BEACH, FLA. — Asana Partners has announced the addition of five new tenants to Sunset Harbour, a 21,000-square-foot retail center in Miami Beach. Restaurants Casa Bufala, Sacro and Nautical Bowls will occupy 2,500, 2,813 and 950 square feet, respectively. Chip City Cookies will also join the food-and-beverage lineup, leasing 980 square feet. Additionally, fitness and wellness club The Outsider will open a 2,006-square-foot location.

February 20, 2023

Industrial Leasing Activity Office Southeast Virginia

Sapporo USA Signs 149,030 SF Flex Office Lease in Richmond

by John Nelson February 20, 2023

RICHMOND, VA. — Sapporo USA Inc. has signed an office/warehouse lease at Sauer Industrial Center, an industrial park located at 943 S. Airport Drive in Richmond. The beer manufacturer will occupy 149,030 square feet at the property. Cliff Porter of Porter Realty represented the landlord, Becknell Industrial, in the lease negotiations.

February 20, 2023

Development Mixed-Use North Carolina Southeast

Choate Construction Breaks Ground on 160,000 SF Mixed-Use Project in Durham

by John Nelson February 17, 2023

DURHAM, N.C. — Choate Construction Co., on behalf of White Point, has broken ground on a 160,000-square-foot mixed-use project located within Durham’s Research Triangle Park (RTP). Dubbed Horseshoe, the development will feature two single-story pavilions flanking a five-story office tower with ground-floor retail space. The property will also include a 315,000-square-foot precast parking deck with 1,000 parking spaces. Duda|Paine Architects is the designer on Horseshoe, which will anchor the HUB RTP campus. A construction timeline was not disclosed.

February 17, 2023

Development Georgia Restaurant Retail Southeast

C3, Legends to Open 25,000 SF Citizens Market Food Hall at Phipps Plaza in Atlanta

by John Nelson February 17, 2023

ATLANTA — C3 (Creating Culinary Communities), a food technology platform, and Legends have announced plans for Citizens Market, a 25,000-square-foot food hall set to open at Phipps Plaza in Atlanta in April. Featured eateries at the food hall will include Umami Burger, Krispy Rice, Sam’s Crispy Chicken, Kumi, Sa’Moto, EllaMia, Cicci di Carne, Plant Nation, El Pollo Verde, Stonie Bowls, Frankly by Snap-O-Razzo, Tastemade Me Tacos and Citizens Pizza. The joint venture also has culinary markets planned for this year in Chicago and Miami, as well as a food hall set to open in London next year.

February 17, 2023

Development North Carolina Restaurant Retail Southeast

Crescent, Nuveen Underway on 18,000 SF Monarch Market Food Hall in Charlotte

by John Nelson February 17, 2023

CHARLOTTE, N.C. — Crescent Communities and Nuveen Real Estate are underway on the construction of Monarch Market, an 18,000-square-foot food hall located within One Independence Center in Charlotte. Hospitality HQ will operate the space, which is scheduled to open later this year and will feature 12 food stalls, one full-service restaurant, three bars and a private event space. The event space will include a cocktail lounge with outdoor space, semi-private space available for reservations and an indoor/outdoor bar. Food delivery and access to the tenant lounge will also be available to those who work at One Independence Center. Elmer Design is the architect and interior designer on the project, with JE Dunn serving as the general contractor. Cushman & Wakefield is providing consulting services, and PNC Bank, U.S. Bank and First National Bank of Pennsylvania have provided financing.

February 17, 2023

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