Southeast

Honeywell to Move Global Headquarters from New Jersey to Charlotte

by Alex Tostado December 5, 2018

CHARLOTTE, N.C. — Honeywell is set to relocate its global headquarters from Morris Plains, N.J., to Charlotte. The company will also move its Safety and Productivity Solutions headquarters from Fort Mill, S.C., to Charlotte. The Fortune 100 technology company plans to move 150 to 200 jobs from New Jersey to Charlotte and about 100 from South Carolina between now and September. The company also plans to add 500 corporate jobs before 2024. The move comes as part of the recently passed North Carolina Job Development Investment Grant that awards state and local incentives to companies. The News & Observer reports that the State of North Carolina will give Honeywell an incentive package of $42.5 million for the relocation. Honeywell specializes in industry specific solutions that include aerospace products and services, control technologies for buildings and industry and performance materials globally.

December 5, 2018

Acquisitions Georgia Retail Southeast

Ackerman Retail Brokers Sale of Two Atlanta Buildings for $23M

by Alex Tostado December 5, 2018

ATLANTA — Ackerman Retail, the retail division of Atlanta-based Ackerman & Co., has brokered the sale of two retail buildings in the Atlanta’s Buckhead district. The sold portfolio includes a 27,000-square-foot property fully leased to Maggiano’s Little Italy that sold for $12.7 million and a 3,796-square-foot property fully leased to Wells Fargo Bank that sold for $10.3 million. Level 33 Capital, a private investment company bought both properties. Kevin Hermetz and Jimmy Stevens of Ackerman & Co. represented the undisclosed seller in the Maggiano’s transaction, and Sean Patrick and Stephen Lapierre, also of Ackerman & Co., represented the same undisclosed seller in the Wells Fargo transaction.

December 5, 2018

Development Industrial Maryland Southeast

St. John Properties Breaks Ground on Three Buildings in Maryland Industrial Park

by Alex Tostado December 5, 2018

FREDERICK, MD. — St. John Properties has broken ground on three buildings within Arcadia Business Park in Frederick, about 50 miles west of Baltimore. The buildings will total 200,000 square feet when complete and represent Phase I of construction at the 61-acre industrial campus. Arcadia Business Park will total 600,000 square feet across eight buildings at full buildout. Phase I is expected to deliver in the summer.

December 5, 2018

Georgia Leasing Activity Office Southeast

S.J. Collins Inks WeWork to Anchor Mixed-Use Project in Atlanta’s West Midtown District

by Alex Tostado December 5, 2018

ATLANTA — S.J. Collins Enterprises, developer of The Interlock mixed-use project, has signed WeWork as the newest tenant of the $450 million development. This will be WeWork’s sixth Atlanta location with anticipated occupancy in fall 2020. The office, dubbed WeWork Interlock, will be situated at the corner of Howell Mill Road and 14th Street in West Midtown, spanning three stories and 118,000 square feet. WeWork provides more than 320,000 members around the world with office space, community and services through both physical and digital offerings. When complete, The Interlock will offer 200,000 square feet of loft office space, 105,000 square feet of retail space, 350 apartment units, 70 single-family homes and a 145-key Marriott Tribute Portfolio hotel. Tenants previously announced include Slater Hospitality, St. Germain French Bakery and Georgia Technology Ventures. The Interlock is slated to open summer 2020.

December 5, 2018

Development Multifamily Southeast Tennessee

Middleburg Opens 328-Unit Apartment Community in Nashville’s Cool Springs District

by Alex Tostado December 5, 2018

FRANKLIN, TENN. — Mosby Cool Springs, a 328-unit apartment community in Franklin, is now open. The developer, Middleburg, manages the property. The development team includes architect of record and interior designer Humphreys & Partners, landscape architect Gamble Design Collaborative and civil engineer Kimley-Horn. Situated about 20 miles south of Nashville in the metro’s Cool Springs district, Mosby Cool Springs’ floor plans include studio, one- and two-bedroom options. Amenities include a fitness center; clubhouse with game room, event space, study and conference rooms, and a coffee bar; swimming pool and plunge pool; on-call massage therapist; dog park and spa; car care center; and package acceptance with locker system.

December 5, 2018

Acquisitions Multifamily Southeast Top Stories Virginia

Harbor Group International Sells Three Apartment Portfolios for $700M

by David Cohen December 5, 2018

NORFOLK, VA. — Harbor Group International (HGI) has sold three apartment portfolios in Florida, Connecticut and Texas for a total of $700 million. The portfolios included seven properties totaling 2,284 units in Central Florida; two properties totaling 568 units in Connecticut; and 12 properties in Dallas and Houston totaling 3,100 units. The specific names and locations were not released. “These transactions are great examples of HGI’s ‘buy wholesale, sell retail’ investment strategy,” says T. Richard Litton Jr., president of HGI. “For all three of these portfolios, we developed individual business plans on a property-by-property basis and then sold the properties to a wide variety of buyers as each property’s investment goals were achieved.” The 21 properties were sold to a total of 15 different buyers. HGI claims the combined sales prices were $140 million higher than the company’s original acquisition price. Based in Norfolk, Harbor Group International is a private real estate investment and management firm that controls a portfolio of worldwide assets valued at $8.2 billion. The company’s real estate holdings include 3.7 million square feet of commercial properties and 30,400 apartment units. — David Cohen

December 5, 2018

Acquisitions District of Columbia Office Southeast

Meridian Group, WeWork Acquire Office Building in D.C. for $136.5M

by Alex Tostado December 4, 2018

WASHINGTON, D.C. — Meridian Group and affiliates of WeWork Property Advisors, an investment fund established by coworking firm WeWork, have created a joint venture to buy 1333 New Hampshire Ave. N.W., a 350,000-square-foot office building in Washington, D.C. Washington Business Journal reported the sales price was $136.5 million. Affiliates of WeWork Property Advisors are contributing 50 percent of the equity, and WeWork Cos. Inc. will lease more than 100,000 square feet of the building. Meridian plans to renovate the building, which is 84 percent leased to Akin Gump Strauss Hauer & Field, a law firm that has been in the space for 25 years. The firm is set to leave by August. Renovations are slated to begin next year and be completed in summer 2020. Collins Ege at Eastdil Secured represented the seller, Boston Properties, in this transaction, and Nicholas Seidenberg at Eastdil Secured represented the Meridian Group in its acquisition financing.

December 4, 2018

Development Georgia Industrial Southeast

Georgia Ports Authority to Build Inland Port in Gainesville, Auto Supplier to Build 318,000 SF Distribution Center Nearby

by Alex Tostado December 4, 2018

GAINESVILLE, GA. — Georgia Ports Authority will develop a new 104-acre inland port in Gainesville. Currently, containers moving by truck travel 600 miles roundtrip to and from the Port of Savannah. When the new rail yard opens, drivers will be able to make shorter trips from area manufacturers and distribution facilities to the northeast Georgia site. The port is slated to be complete in 2021. Gainesville is located along Interstate 985, about 55 miles northeast of Atlanta. In conjunction with the port announcement, Auto Metal Direct, a distributor of auto body panels and trim for classic cars and trucks, announced it will open a 318,000 square-foot distribution and fulfillment center near the port. Construction will begin soon, and upon completion, the $15 million development will bring 40 jobs to Hall County.

December 4, 2018

Florida Loans Multifamily Southeast

Allen Morris, Ustler Development Receive $66M Construction Loan for Apartment Complex in Downtown Orlando

by Alex Tostado December 4, 2018

ORLANDO, FLA. — The Allen Morris Co. and Ustler Development Inc. have secured a $66 million construction loan for the Creative Village Parcel M Apartments in downtown Orlando, a $108 million development. Financing was provided by SunTrust Bank and Santander Bank. Affiliates of the developers provided equity, and Walker & Dunlop arranged an additional equity partner. The community is set to consist of a Class A, 14-story, 409-unit building across the street from the University of Central Florida (UCF) Downtown campus and Valencia College Downtown Campus that are set to open in August. Creative Village Parcel M Apartments is slated to be complete in mid-2020. The project team includes architect Baker Barrios and general contractor Brasfield & Gorrie. Creative Village Parcel M Apartments is part of the $1 billion Creative Village, a 68-acre mixed-use and transit-oriented community that will serve as the home to high-tech and digital corporations, as well as UCF and Valencia College students, employees and residents.

December 4, 2018

Development North Carolina Retail Southeast

Halpern Enterprises Completes 62,880 SF Retail Development in Raleigh

by Alex Tostado December 4, 2018

RALEIGH, N.C. — Halpern Enterprises Inc. has completed Leesville Market Place, a 62,880-square-foot retail development in Raleigh. Publix anchors the property, located inside Interstate 540 at the intersection of Leesville and Strickland roads. Situated adjacent to CVS, Walgreens, a medical office building and Leesville Towne Centre, Leesville Market Place will add tenants Hollywood Feed, Sport Clips and Noire the Nail Bar early next year.

December 4, 2018

Newer Posts

Older Posts