Southeast

MEMPHIS, TENN. — FedEx Logistics, a subsidiary of FedEx Corp., will move its global headquarters to the site of the former Gibson Guitar factory building, a 145,000-square-foot facility located at 145 George W. Lee Ave. near Beale Street in downtown Memphis. FedEx Logistics plans to consolidate multiple locations and more than 700 employees to the site over the next several years. The company will occupy the space beginning in April 2020. FedEx Logistics plans to add a mezzanine level that will bring the total square footage to nearly 200,000. LRK will be the architect for the expansion project.

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ST. PETERSBURG, FLA. — Bainbridge Cos. has delivered 930 Central Flats, a 218-unit multifamily complex in St. Petersburg’s Edge District. The Tampa Bay area project also includes underground parking, ground-floor amenities and five stories of apartments. The complex offers studio, one- and two-bedroom floor plans and amenities including a beach-style swimming pool, sun decks, barbecue grills and lounge seating, dog spa, rooftop garden and community dining tables. The site is situated less than a mile from downtown St. Petersburg and Tropicana Field, home of the Tampa Bay Rays.

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WELLINGTON, FLA. — HFF has arranged the $43 million sale of The Pointe at Wellington Green, a 107,368-square-foot shopping center in Wellington. HFF represented the seller, The Centre at Wellington Green Ltd., in the transaction. The asset was 96 percent leased at the time of the sale to tenants including LA Fitness, Saito’s Japanese Steak House, Sport Clips, Five Guys, Jamba Juice, Olive Garden, Don Ramon Cuban Cuisine and Franco’s Italian Restaurant. The property is situated on 21.3 acres, about 14 miles west of West Palm Beach. HFF also arranged a $13.5 million, 13-year, fixed-rate acquisition loan through Principal Real Estate Investors on behalf of the buyer, The Pointe at Wellington LLC.

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RALEIGH, N.C. — Cushman & Wakefield has arranged the sale of Legacy at Brier Creek, a four-story, 117,138-square-foot office building in Raleigh. Legacy at Brier Creek delivered in December 2017 and was fully leased at the time of the sale and anchored by Infosys, an Indian multinational corporation that provides business consulting, information technology and outsourcing services. The asset is situated about 13 miles northwest of Raleigh and about nine miles southeast of Durham. David Finger, Sara Owen, David Meline and Samir Idris of Cushman & Wakefield represented the undisclosed seller in the transaction. Zurich Alternative Asset Management LLC represented the buyer, a member company of Zurich North America, in the transaction. The sales price was not disclosed.

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NASHVILLE, TENN. — Tanger Outlets has announced plans to open a new outlet mall in downtown Nashville. This will be Tanger’s second location in Tennessee and 43rd in the United States. The site will comprise 300 acres off Interstate 24. At full build-out, it will offer 280,000 square feet of leasable space. The company said it will not break ground until the property is at least 60 percent leased.

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ASHEVILLE, N.C. — Asheville has long been a destination for visitors seeking finely crafted furniture and decorative arts, dating back to the city’s preeminence in the early 20th century international arts and crafts movement and extending to Asheville’s current prominence as one of the country’s most lauded destinations for travelers. Indeed, Travel + Leisure magazine recently named “artsy Asheville” to its list of the “Top 15 Cities in the United States.” Asheville Outlets has created a home furnishings niche that taps into the region’s love of furniture and crafts, featuring stores including Restoration Hardware Outlet, West Elm Outlet, Le Creuset and Kirkland’s, all of which opened between 2015 and 2016. The stores benefit from strong demographics and purchasing behavior as residents within the center’s trade area spend $1.02 billion annually on home furnishings.  The region’s 11.1 million visitors provide another strong base of consumers.  “There is a strong demand for beautiful and affordable home furnishings and decorative accessories in our market area and these stores offer the right mix for every style and budget,” says Sharon Morgan, general manager of Asheville Outlets. RH Outlet Restoration Hardware at Asheville Outlets carries a range of distinctive, high-quality items for the home, including …

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FLORENCE, S.C. — LDJ Global Strategies will develop a 200,200-square-foot speculative logistics center in Florence. The facility will feature 32-foot clear ceiling heights, 56 dock doors, 353 parking spaces and four drive-ins. The new building will be situated within the 28-acre Pee Dee Touchstone Energy Industrial Park, which is located 70 miles from the Georgetown Port and 110 miles from the Charleston and Wilmington ports. CBRE will handle leasing efforts for the building.

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CHARLOTTE, N.C. — Midas Hospitality has opened its third Residence Inn by Marriott hotel in Charlotte. The four-story, 119-room The Residence Inn Charlotte Steele Creek is located at 5110 Trojan Drive, about 10 miles south of downtown Charlotte and seven miles south of Charlotte Douglas International Airport. The 82,000-square-foot hotel offers studio, one- and two-bedroom suites. Henry Schmidlin and Sue Wing of Midas will serve as general manager and director of sales, respectively. Midas’ sister company, MC Hotel Construction, served as the general contractor.

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AUSTELL, GA. — FCP has acquired Chroma Park, a 210-unit, garden-style apartment complex in Austell, for $29.5 million. The property is situated at 2105 Mesa Valley Way, about 20 miles west of downtown Atlanta. Amenities at Chroma Park include a fitness center, lighted tennis courts, resort-style swimming pool, dog park and playground. FCP plans on investing in capital improvements across the property, including upgrades to the buildings, amenities and interiors. Travis Presnell of Cushman & Wakefield represented the undisclosed seller in the transaction.

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ORLANDO, FLA. — HFF has arranged $28.9 million in equity financing for the development of Radius Apartments in Orlando. The 13-story, 389-unit community will be situated two blocks north of Lake Eola and less than a mile north of downtown Orlando. HFF worked on behalf of an affiliate of Banner Real Estate Group to arrange $14.9 million in joint venture equity from Westminster Capital LLC and $14 million in preferred equity through a blue-chip life company. The building is slated for completion in 2020 and will feature 12 stories of residential space situated above street-facing retail space on the first floor, an adjacent six-story parking garage and a public courtyard. The roof of the parking garage will be utilized as an amenity deck that will include a pool, cabanas, outdoor kitchen, dining and grilling area, bar and sun shelf.

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