Southeast

CapRocq Sells Retail, Multifamily Space in Downtown Greenville for $9.4M

by Alex Tostado December 21, 2018

GREENVILLE, S.C. — An affiliate of Arkansas-based CapRocq has sold 14,414 square feet of retail space and 22 multifamily units within the Wells Fargo Center in downtown Greenville for $9.4 million to an undisclosed buyer. The retail and multifamily space is situated on the second and third floors. The Wells Fargo Center is a mixed-use development leased to Charles Schwab, Sully’s Steamers, Sticky Fingers and Port City Java. The selling entity, CapRocq Greenville LLC, still owns the remainder of Wells Fargo Center. Scott Burgess and Lance Byars of Colliers International represented the seller in the transaction. Furthermore, Colliers retains the leasing and property management of the portion of the center still owned by CapRocq Greenville.

December 21, 2018

Leasing Activity Office Southeast Virginia

WeWork Signs 83,294 SF Lease in Metro D.C. Mixed-Use Tower

by Alex Tostado December 21, 2018

ROSSLYN, VA. — WeWork has signed an 83,294-square-foot lease for office space at CEB Tower at Central Place in Rosslyn. WeWork will occupy the 25th through 28th floors. The 31-story mixed-use tower was delivered earlier this year and is now 93 percent leased to tenants including Gartner and Accenture. CEB Tower is located about three miles east of downtown Washington, D.C., and includes 45,000 square feet of dining and retail space along with an outdoor public plaza. Greg Lubar, Andy O’Brien and Zach Boroson of JLL represented WeWork in the lease transaction. Jill Goubeaux, Terry Reiley, Caroline Bour and Anna Faktorow of CBRE represented the landlord, JBG Smith. WeWork plans to open its space in the second quarter of 2019.

December 21, 2018

Acquisitions Multifamily Southeast Tennessee

Crescent Communities, Pearl Street Partners Sell Two Multifamily Complexes in Nashville

by Alex Tostado December 20, 2018

NASHVILLE, TENN. — Crescent Communities and Pearl Street Partners have sold Novel Bellevue Place, a 337-unit multifamily community in Nashville’s Bellevue neighborhood, to The Praedium Group for an undisclosed price. The partnership also sold Novel Music Row in downtown Nashville to The Dinerstein Cos. for an undisclosed price, but media reports have the price tag at $79.2 million. Bellevue Place is located within One Bellevue Place, a mixed-use redevelopment of Bellevue Mall that is situated on 87 acres about 14 miles southwest of downtown Nashville. When complete, the site will also house the Nashville Predators’ practice facility. Amenities include a fitness center, pool and clubroom. Music Row is situated in Nashville’s Gulch neighborhood. Amenities include an outdoor kitchen area, dog park, pool, fitness center, clubroom and a performance stage. Both communities opened in summer 2017. Fifth Third Bank provided the construction financing for Bellevue Place, and RBS Citizens Bank provided construction financing for Music Row. Russ Oldham, Brett Kingman and Steve Massey of CBRE represented Crescent Communities in both sales transactions. Crescent Communities is currently developing two additional Nashville-area Novel communities with Pearl Street Partners. Lockwood Glen in Franklin is currently leasing, and Crescent recently announced plans for Nashville West, a 436-unit community set to deliver in spring …

December 20, 2018

Acquisitions Arkansas Industrial Southeast

Investment Grade Loans Sells 554,416 SF Industrial Building in Little Rock

by Alex Tostado December 20, 2018

LITTLE ROCK, ARK. — Investment Grade Loans has sold a 554,416-square-foot industrial building in Little Rock. The property sits on 27.6 acres and sold to New York City-based Eliken Property Management for an undisclosed price. The single-story facility has 29-foot, 9-inch ceiling heights, 5-inch reinforced concrete floors, 40 dock doors and 5,616 square feet of office space. Holmes Davis of Binswanger’s Dallas office represented the seller in the transaction.

December 20, 2018

Acquisitions North Carolina Office Southeast

RealOp Investments Acquires Charlotte Office Portfolio Totaling 163,687 SF

by Alex Tostado December 20, 2018

CHARLOTTE, N.C. — RealOp Investments has purchased Arrowpoint II and III in Charlotte. The portfolio consists of two four-story buildings spanning 163,687 square feet. The properties are located about nine miles south of Charlotte Douglas International Airport. Greenville, S.C.-based RealOp Investments specializes in value-add acquisitions. The sales price and seller were not disclosed.

December 20, 2018

Development North Carolina Retail Southeast

Hutton Breaks Ground on Two Retail Projects Near Raleigh

by Alex Tostado December 20, 2018

SANFORD, N.C. — Chattanooga, Tenn.-based Hutton has broken ground on two adjacent retail development projects in Sanford. One project is a 10,400-square-foot, multi-tenant building that will include retail and restaurant space. The other project is a 3,200-square-foot standalone Zips Car Wash. Hutton has already signed Jersey Mike’s, Mattress Warehouse and Sport Clips to leases at the multi-tenant building, which currently has 1,500 square feet available for lease. Sanford is located about 40 miles southwest of Raleigh.

December 20, 2018

Alabama Leasing Activity Office Southeast

Leidos Signs 61,358 SF Office Lease in Huntsville

by Alex Tostado December 20, 2018

HUNTSVILLE, ALA. — Leidos Inc., a defense, aviation and biomedical research company, has signed a 61,358-square-foot lease at 915 Explorer Blvd. in Huntsville. The company occupies multiple locations in the city but plans to consolidate much of its operations to the single-story flex building. The property is located within Cummings Research Park, the second-largest research park in the United States, trailing only Research Triangle Park in Raleigh. Carter Burwell of JLL’s Birmingham office, and Doug Seale and Mateo Diachok of JLL’s Washington, D.C., office, represented Leidos in the transaction.

December 20, 2018

Acquisitions Multifamily North Carolina Southeast

FCP, Terwilliger Pappas Sell Two Multifamily Communities in Charlotte Totaling $128.6M

by Alex Tostado December 19, 2018

CHARLOTTE, N.C. — FCP and Terwilliger Pappas Multi Family Partners (TPMP) have sold two multifamily communities in Charlotte. The partners sold Solis Waverly for $84.4 million to Dallas-based Lan Properties/Lantower Residential and Solis Ballantyne for $44.2 million to Baltimore-based Continental Realty Corp. Solis Waverly is a 375-unit community located about 14 miles south of downtown Charlotte. Completed in 2016, the property features a pool with a sundeck, 24-hour fitness center, conference room, electric car charging station and an outdoor terrace. It is part of Waverly, a master-planned development with office space, retail space, single-family homes and a hotel. Solis Ballantyne was also completed in 2016 and is located about 14 miles south of downtown Charlotte. The community includes 194 units and features a pet washing station, pool, fitness center, bike storage and package service. Phil Brosseau Jr., Howard Jenkins, Kevin Kempf and David Lansbury of CBRE represented the sellers in the transaction for Solis Waverly. Andrea Howard, Jim Sewell, David Gutting and Derrick Bloom of JLL represented the sellers in the transaction for Solis Ballantyne. Fortune Johnson was the general contractor for both developments.

December 19, 2018

Acquisitions Maryland Multifamily Southeast

JLB, Crow Holdings Sell Multifamily Complex in Annapolis for $75.6M

by Alex Tostado December 19, 2018

ANNAPOLIS, MD. — A joint venture between JLB Partners and Crow Holdings has sold The James, a 236-unit multifamily community in Annapolis, for $75.6 million to an undisclosed buyer. The James was delivered in 2016 and features a pool, entertainment lounge and a wellness center. The property is located about four miles west of the United States Naval Academy. Al Cissel and Ryan Ogden of Newmark Knight Frank represented the seller in the transaction.

December 19, 2018

Georgia Leasing Activity Retail Southeast

Pellerin Announces Wave of Retail Tenants Coming to The Beacon in Atlanta’s Grant Park

by Alex Tostado December 19, 2018

ATLANTA — Pellerin Real Estate has announced new tenants coming to The Beacon, a redevelopment project in Atlanta’s Grant Park neighborhood. Scheduled to open in 2019 are Bailey Room Wine Cellar, a wine bar concept created by Cynthia Bailey of “The Real Housewives of Atlanta”; Adara Clothing; Cultural Accents, a shop offering West African fashion; Squishieland, an art gallery by Ray Geier; Marguerites Bistro, a Jamaican fusion restaurant; and Third Street Market Deli & Bar. Existing tenants include A Haute Cookie; Nica Life, an artisan jewelry company; Kickstart Martial Arts; and Divine Dermatology. According to Curbed Atlanta, the $30 million development spans nine acres and 110,000 square feet. The Beacon is situated about one mile south of Zoo Atlanta and will have about 600 feet of frontage along the Atlanta BeltLine’s forthcoming Southside Trail.

December 19, 2018

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