Regions Southeast
Highwoods, USAA Partner to Build FBI Office
Jul 28, 2009
Highwoods Properties Inc. and USAA Real Estate Co. were awarded a build-to-suit lease by the U.S. General Services Administration to develop an approximately $45 million field office for the Federal Bureau of Investigation in Charlotte, N.C. The joint venture is scheduled to begin building the 171,000-square-foot, five-story Class A office building and annex in the first quarter of 2010 and complete it in the second quarter of 2011, with certification sought under the U.S. Green Building Council's Leadership in Energy and Environmental Design program. The project is Highwoods' third for the FBI, which is a repeat client of investor USAA's as well, and both have worked extensively with the GSA overall. Highwoods will retain a 10 percent ownership interest in the joint venture, as well as receiving development fees.
Post Sells Atlanta, Fairfax Properties for $100 Million
Jul 24, 2009
Post Properties Inc. sold Post Ridge in Atlanta to a locally based entity affiliated with Centennial Holding Company L.L.C. for $44.8 million following Monday's sale of Post Forest in Fairfax, Va., to an entity affiliated with Pantzer Properties Inc. for $57.5 million. CB Richard Ellis Inc. brokered the most recent transaction, while the Post Forest deal was brokered by Holliday Fenoglio Fowler L.P. The REIT expects to report net gains of approximately $54 million relating to the sales.
IDI Leases 171,800 SF of Georgia Industrial Space
Jul 22, 2009
Real estate firm IDI has executed a 171,800-square-foot, five-year
lease in Lithia Springs, Ga., with Sensormatic Electronics Corp., a
provider of security and fire safety products and services for the
commercial and residential sectors.
Crossman to Handle Leasing for 10.4MSF Publix Portfolio
Jul 20, 2009
Third-party leasing and management firm Crossman & Co. has been
named the exclusive leasing representatives for all Publix-owned retail
properties in Florida, Georgia, Alabama, Tennessee and South Carolina.
Grubb & Ellis Healthcare REIT to Buy South Carolina Portfolio
Jul 16, 2009
Grubb & Ellis Healthcare REIT Inc. agreed to purchase a 16-building portfolio from Greenville Hospital System of Greenville, S.C., including approximately 855,000 square feet of medical office and related space, for $161.7 million. The hospital system is among the largest healthcare service providers in the state and will continue to occupy 83 percent of the portfolio, most of which is on or adjacent to its hospital campuses, under a long-term lease agreement arrangement.
$325M Florida Mixed-Use Gets OK
Jun 17, 2009
CDS International Holdings Inc. has received approvals for its Atlantic Plaza II, a planned $325 million mixed-use community that will transform two city blocks in Delray Beach, Fla.
Orinda, Octagon Eye Strong Area Fundamentals for Atlanta Conversion Project
Jun 03, 2009
The nationwide downturn in employment is chipping away at demand in the apartment market, but there are still those communities here and there where the call for more rental accommodations remains relatively strong. To that end, Orinda Corp. and Octagon Capital Partners, having found just such a community, have acquired a 350,000-square-foot office building in a college-laden district of Atlanta for a $35 million apartment conversion project.
Blanca’s New Firm Gets Off to Fast Start with 1450 Brickell Assignment
Apr 22, 2009
Miami commercial property veteran Tere Blanca’s new services firm looks to be coming out of the gate quickly, despite the industry’s current slump. Just weeks after she launched Blanca Commercial Real Estate, the company landed the exclusive leasing duties for 1450 Brickell, a Class A office tower currently under construction in Miami’s Brickell financial district.
Atlanta
Post Sells Atlanta, Fairfax Properties for $100 Million
Jul 24, 2009
Post Properties Inc. sold Post Ridge in Atlanta to a locally based entity affiliated with Centennial Holding Company L.L.C. for $44.8 million following Monday's sale of Post Forest in Fairfax, Va., to an entity affiliated with Pantzer Properties Inc. for $57.5 million. CB Richard Ellis Inc. brokered the most recent transaction, while the Post Forest deal was brokered by Holliday Fenoglio Fowler L.P. The REIT expects to report net gains of approximately $54 million relating to the sales.
Turner to Build $93M Atlanta Office for CDC
Jul 20, 2009
Turner Construction Co. has been selected by the Centers for Disease
Control and Prevention to provide design/build services for a $93
million, 311,000-square-foot office complex.
Harrah's Cherokee Kicks Off Next Phase of $633M Expansion Despite Lackluster Gaming Market
Jul 13, 2009
With the recession in full swing, fewer people are taking chances at
the gaming tables, but that is not stopping the Eastern Band of the
Cherokee Nation from moving forward with its $633 million expansion of
the Cherokee Casino & Hotel in Cherokee, N.C. Tribal leaders just
broke ground on the 532-room hotel segment of the property's massive
upgrade.
Orinda, Octagon Eye Strong Area Fundamentals for Atlanta Conversion Project
Jun 03, 2009
The nationwide downturn in employment is chipping away at demand in the apartment market, but there are still those communities here and there where the call for more rental accommodations remains relatively strong. To that end, Orinda Corp. and Octagon Capital Partners, having found just such a community, have acquired a 350,000-square-foot office building in a college-laden district of Atlanta for a $35 million apartment conversion project.
Miami
Perez Asked to Join Dolphins Management Team
Jul 02, 2009
New Miami Dolphins owner Stephen Ross, chairman & CEO of The Related Cos., has asked Related Group chairman Jorge Perez to become vice chairman of the team, according to the Miami Herald.
Downtown Miami Condo Market Showing Signs of Life--Contrary to Popular Opinion
Jun 29, 2009
Rumors of the Downtown Miami condominium market's death have beengreatly exaggerated. The Miami Downtown Development Authority recentlycommissioned the Residential Closings & Occupancy Study, whichindicates that industry talk about the area's stock of new condos beingcovered in cobwebs--or predominantly empty--may not be totallyaccurate.
Blanca’s New Firm Gets Off to Fast Start with 1450 Brickell Assignment
Apr 22, 2009
Miami commercial property veteran Tere Blanca’s new services firm looks to be coming out of the gate quickly, despite the industry’s current slump. Just weeks after she launched Blanca Commercial Real Estate, the company landed the exclusive leasing duties for 1450 Brickell, a Class A office tower currently under construction in Miami’s Brickell financial district.
Orlando
Latest Southeast Commercial Mortgage Trends
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