development1

Fantini & Gorga Arranges $13.4M Construction Loan for Boston Multifamily Development

by Amy Works August 10, 2015

BOSTON — Fantini & Gorga has arranged a $13.4 million construction loan for the development of a multifamily property located at 900 Beacon St. in Boston’s Audubon Circle neighborhood. Upon completion, the property will feature 28 market-rate apartments and four affordable units, as well as 4,340 square feet of ground-floor retail space. Additional on-site amenities include underground parking for 30 vehicles and an outdoor patio area to be used by the commercial tenants. Casmir Groblewski, Tim O’Donnell and Despina Hatzipetrou of Fantini & Gorga arranged the financing for the undisclosed developer. The lender is a Massachusetts-based financial institution.

August 10, 2015

North Carolina Office Southeast

Portman Holdings Closes Financing for $122M Office Tower in Uptown Charlotte

by John Nelson August 10, 2015

CHARLOTTE, N.C. — Portman Holdings has secured financing for its $122 million office building located at 615 S. College Ave. in Uptown Charlotte. The financing included equity from China Orient Summit Capital and debt from PCCP LLC. The 371,000-square-foot office building will be constructed atop an existing parking garage, and upon completion in February 2017, the office tower will have an outdoor green space and direct access to the Lynx Blue Line. John Portman & Associates is providing architectural services, and Travis Garland of Portman Holdings is managing the leasing process, in conjunction with Trinity Partners. Portman Holdings will officially break ground on the office tower on Friday, Aug. 14.

August 10, 2015

Industrial South Carolina Southeast

Rockefeller Group, WestRock Break Ground on Distribution Center for Gerber Childrenswear in Charleston

by John Nelson August 10, 2015

CHARLESTON, S.C. — The Rockefeller Group and WestRock Land and Development (formerly MWV Community Development and Land Management) have broken ground on a 477,000-square-foot distribution center in Charleston. The companies are developing the center on behalf of Gerber Childrenswear LLC, a children’s apparel company whose licensed brand portfolio includes Gerber, Jockey, New Balance and NFL. The company’s proprietary brands include Onesies Brand and Always Baby. The new distribution center will double Gerber’s footprint in the Charleston metropolitan area. The new facility will be located in the 400-acre Rockefeller Group – MeadWestvaco Foreign Trade Zone/Charleston industrial campus in Berkeley County. Peter Fennelly and Simons Johnson of Colliers International’s Charleston office represented Gerber Childrenswear in the transaction. Evans General Contractors is the general contractor for the project. The new distribution center is slated for a January 2016 completion.

August 10, 2015

Alabama Multifamily Southeast Student Housing

CA Student Living to Build Student Housing Community in Auburn

by John Nelson August 10, 2015

AUBURN, ALA. — CA Student Living will begin development soon on a six-story mixed-use development named The Jackson near Auburn University. The development will include approximately 7,500 square feet of first-floor retail with student housing on the five upper floors. The Jackson will feature 126 units, or 456 beds, with two-, three-, four- and five-bedroom floor plans. Amenities at The Jackson will include a pool, bike parking and a parking deck that includes two subterranean levels and two levels of above-ground parking. The property is currently owned by Badger Downtown LLC and occupied by Center Court Apartments, which will be demolished to make way for The Jackson.

August 10, 2015

Retail Texas

New Tenants Sign on at Castle Hills Village Shops in Metro Dallas

by Haisten Willis August 7, 2015

LEWISVILLE, TEXAS — New tenants have signed on at Castle Hills Village Shops, part of the master-planned Castle Hills community in Lewisville. FroYo Smoo-licious recently opened a 1,026-square-foot store in the Village Shops. Long-time tenant Umi Umi sushi restaurant has moved to a larger space within the shops, adding a hibachi grill to the menu. Re-opening as Kanzi Sushi & Hibachi, the new 2,561-square-foot space added 1,200 square feet to the restaurant, plus a porch for outdoor dining that overlooks Lake Avalon. Kerry Assa of Bright Realty represented the landlord, Bright Realty, in both transactions. Kevin Park, of Coldwell Banker, represented Kanzi Sushi & Hibachi in its upgrade. Sean Conner, who opened PI.E 3.14 Everyday Eatery pizza kitchen in Castle Hills, is opening a second restaurant in the Village Shops. T.B.D. Kitchen is a chef-driven taco concept with craft cocktails that will occupy 1,779 square feet. Conner’s PI.E 3.14, with local chef Brent Hammer, also added more than 200 square feet to its space at the shops. Hammer will also oversee the menu at T.B.D. Kitchen. Assa represented the landlord in these transactions. Al Panigua with Swearingen Realty Group represented the tenant.

August 7, 2015

District of Columbia Office Southeast

Akridge, Brandywine to Develop Office Building Adjacent to Nationals Park in D.C.

by John Nelson August 7, 2015

WASHINGTON, D.C. — Akridge and Brandywine Realty Trust have partnered to develop 25M Street, a 275,000-square-foot trophy office asset in Washington, D.C.’s Capitol Riverfront district. The asset will be located at the corner of Half and M streets adjacent to Nationals Park, the ballpark for the Washington Nationals. Upon completion, the property will have a large modern lobby, 3,000-square-foot fitness center, rooftop terrace with views of the ballpark and 25,000 square feet of street-level retail, dining and entertainment space. HOK is the architect for the project, which will be located across from the Navy Yard Metro Station. Randy Harrell, Kevin Howard, Joe Coleman and Melissa Byrd of CBRE will be marketing the building on behalf of the partnership. Also underway adjacent to Nationals Park is F1RST, a multifamily and retail asset being developed by Grosvenor Americas.

August 7, 2015

District of Columbia Hospitality Southeast

Hilton, Hyatt to Bring Dual-Branded Hotel to The Wharf in D.C.

by John Nelson August 7, 2015

WASHINGTON, D.C. — Hilton Worldwide and Hyatt Hotels Corp. plan to open a dual-branded, 413-room hotel at The Wharf, a mile-long waterfront mixed-use development in Washington, D.C. The brands include a 175-room Canopy by Hilton and a 238-room Hyatt House. The hotel site includes more than 30,000 square feet of street-level retail and restaurant space and two levels of below-grade parking. The asset will be located between Maine Avenue and Wharf Street, adjacent to 7th Street Park. Upon completion in the fall of 2017, the dual hotel will span 300,000 square feet and will include a cafe/bar and other dining options; 1,100-square-foot fitness center; 2,500 square feet of meeting room space; courtyard with outdoor terraces and water features; outdoor pool; and a rooftop bar with views of the Washington Channel. The penthouse will include an additional 10,000-square-foot lounge area with views of the Potomac River. Hoffman-Madison Waterfront is the master developer of The Wharf, and SmithGroup JJR is the architect of the dual-branded hotel property.

August 7, 2015

Multifamily North Carolina Southeast

Terwilliger Pappas, Federal Capital Partners to Build Apartment Community in Charlotte

by John Nelson August 7, 2015

CHARLOTTE, N.C. — Terwilliger Pappas Multifamily Partners and Federal Capital Partners have teamed up to develop Solis Waverly, a 375-unit apartment community located in the Waverly master-planned development in south Charlotte. The community’s amenity package includes attached and detached garages, a fitness center, conference room, pet park and resort-style pool with a bar. Solis Waverly’s first one-, two- and three-bedroom apartments are expected to be completed by spring 2016. The general contractor for the project is Fortune Johnson. Waverly’s 90-acre plan includes a mix of retail, office, medical office and residential offerings. Novant Healthcare will open a facility at Waverly in the fall. Other tenants at Waverly will include Whole Foods Market, Modern Salon, Dresslers, Bad Daddy’s and Novanta Pizzeria Napoletana.

August 7, 2015

Georgia Retail Southeast

Chick-fil-A, Villa Savannah to Open Locations in Atlanta’s West Midtown District

by John Nelson August 7, 2015

ATLANTA — Chick-fil-A and Villa Savannah, a boutique fashion and home decor retailer based in Savannah, have signed on to open new locations in Atlanta’s West Midtown district. Frank Buonanotte, founder of The Shopping Center Group, and Jeff Stein, founder of Stein Investment Group, are the landowners of the two sites in West Midtown. Chick-fil-A will open a 4,500-square-foot store with double drive-thru access at the intersection of Northside Drive and Ethel Street, just south of 14th Street. Buonanotte and Stein acquired the site in October 2014. Villa Savannah has signed a lease for a new 2,700-square-foot store at Westside Ironworks, bringing the mixed-use development to 92 percent occupancy before completion. Chick-fil-A plans to open its new restaurant in December, and Villa Savannah plans to open in October. Other Westside Ironworks retailers opening in the near future include Dixon Rye, Tom+Chee, O-Ku and Barcelona.

August 7, 2015

Mixed-Use Retail Texas

Trademark Property Co. Signs New Tenants for Waterside Mixed-Use Development

by Haisten Willis August 6, 2015

FORT WORTH, TEXAS — Eight new tenants are set to join Trademark Property Co.’s 63-acre Waterside mixed-use development, which is currently under construction at Bryant Irvin Road and Arborlawn Drive along the Trinity River in Fort Worth. More than 20,000 square feet of new retail and restaurants, along with anchor tenant Whole Foods Market, will open as part of the center’s first phase. The new tenants include Taco Diner, a Mexico City-style taqueria, which will open a 3,900-square-foot restaurant; Zoës Kitchen, a fast casual restaurant concept serving Mediterranean-inspired dishes, which will open a 2,800-square-foot restaurant; Blaze Pizza, a counter-serve pizzeria, which will open a 2,800-square-foot restaurant; Sleep Train, a top mattress retailer, which will open a 3,602-square-foot location. The lineup of new tenants also includes Massage Heights, Envy Nails, Amazing Lash Studio and Pretty Kitty. Construction on Waterside’s first phase began in 2014 and is slated for completion in late spring 2016. Phase I will also include 375 multifamily units built by Transwestern Development Co.. At full build out, Waterside will include 200,000 square feet of retail space and riverside restaurants, 800 multifamily units and two or three hotels.

August 6, 2015

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