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.
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.
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.
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.
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.
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.
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.
LEXINGTON, KY. — An affiliate of Kimco Realty Corp. has sold South Park Shopping Center, a 216,235-square-foot retail center in Lexington, to Kaden T LLC, an affiliate of Louisville, Ky.-based Kaden Cos. South Park Shopping Center is anchored by Best Buy, Office Depot and Bed Bath & Beyond. Other tenants include Ulta Beauty and Value City Furniture. Bruce Isaac and Jamie Adams of NAI Isaac assisted Kevin James of Black Gate Partners in representing the seller, Kimco Lexington 140 LLC, in the transaction. The sales price was not disclosed.
ATLANTA — North American Properties has unveiled plans for Building 300, an 87,500-square-foot mixed-use building in Colony Square in Midtown Atlanta. Whole Foods Market’s South regional office is set to occupy 30,000 square feet of the six-story building that is expected to deliver in 2020. The office relocation will bring about 90 employees of Whole Foods to Midtown. Building 300 will feature 11-foot ceilings, floor-to-ceiling windows and street-level retail space and restaurants. NAP recently closed a $278.4 million loan to finance the redevelopment of the 1 million-square-foot Colony Square project.
ATLANTA — CT Realty, Port Logistics Realty and River Oaks Capital Partners have completed Phase I at Palmetto Logistics Park in Atlanta. The joint venture also signed Drive DeVilbiss Healthcare to a 1.1 million-square-foot lease. DeVilbiss, a global manufacturer of respiratory and ambulatory medical products, plans to move in before the end of the year. Phase II is expected to commence in January and wrap up construction by the end of 2019. Phase II will consist of a 1 million-square-foot distribution facility. The 213-acre industrial park is located about 16 miles southwest of Hartsfield-Jackson Atlanta International Airport. The joint venture bought the land in 2017.
