NEWS & NOTABLES

HUNTSVILLE, AL—Berkshire Hathaway HomeServices, part of the HSF Affiliates family of real estate brokerage franchise networks, announced that independent brokerage Rise Real Estate will join the network Feb. 8 and operate as Berkshire Hathaway HomeServices Rise Real Estate. Founded in 1983, the brokerage is among North Alabama's largest real estate companies serving greater Huntsville and all of Madison County.

NASHVILLE, TN—Marty Rothchild, general manager of Embassy Suites by Hilton Nashville SE – Murfreesboro in Tennessee, returned to the John Q. Hammons Hotels & Resorts' (JQH) hospitality family earlier this year. Under his direction, the 283-suite hotel recently achieved the highest brand inspection status of “outstanding” for quality and service. An award-winning hospitality veteran Rothchild oversees the contemporary hotel that features the largest convention space in Middle Tennessee outside of Davidson County. Springfield, Missouri-based JQH is a leading private, independent owner and manager of hotels in the United States, including operating more than 1 million square feet of superb meeting space.

DEAL TRACKER

ATLANTA—Alan Joel and Dan Granot, principals at Joel & Granot Real Estate/CORFAC International (JGRE) brokered a 7,800-square-foot office lease to Peachtree Capital, which for more than 25 years has provided personalized and integrated tax and investment advice to businesses in Atlanta and throughout the Southeast. The company signed a 91-month lease and plans to move in first quarter 2017. Dave Smith and Charles Ratcliff with Joel and Granot Real Estate/CORFAC International represented the ownership in the leases. “The property was vacant and in total disrepair three years ago when we bought it with our investors,” says Joel. “The strong lease-up not only demonstrates the strength of the Buckhead/Atlanta office market in general, but also creates a new level of value for Class B+ office buildings in the Buckhead area.”

ATLANTA—NAI Brannen Goddard represented Alex Brown Realty, a private equity fund, in the sale of two office buildings located in the Atlanta market. Casey Keitchen, senior vice president of Investment Sales at NAI Brannen Goddard, was the only broker involved in the disposition of both assets: Northside Tower located at 6065 Roswell Road in Sandy Springs, GA and Crossing Center located at 1000 Johnson Ferry Road in Marietta, GA. The assets sold in separate off-market transactions to a family office fund, Stein Investment Group.

ATLANTA—Castle Lanterra Properties marked its entry into the Atlanta marketplace with the acquisition of Alta Coventry Station, a 322-unit multifamily community in the South Fulton submarket. “As the economic and cultural hub of the Southeast, the Atlanta area continues to attract major investments, jobs and new residents,” says CLP founder and CEO Elie Rieder. “The city is home to leaders in healthcare, education, transportation, retail and manufacturing, and the population is now growing at a faster rate than at any point since the recession. This strong economic foundation has enabled an award-winning city to continue to experience robust development.” Built in 2008, Alta Coventry Station is minutes from both Atlanta's CBD and the Hartsfield-Jackson Atlanta International Airport, the world's busiest airport and the largest employer for both the city and the property. Delta Air Lines alone has over 31,000 direct employees and indirectly supports tens of thousands of other local jobs.

MOBILE, AL—Marcus & Millichap brokered the sale of Brookside Retirement Community, a 32,200-square foot seniors housing property located in Mobile. The asset sold for $9.65 million.

The campus has been one of the premier locations for independent, assisted living and memory care for area residents since its construction in 1998. The facility includes 84 independent living residences, including 22 single family homes, a 32 bed assisted living facility, and a 16-unit memory care facility. The 27-acre campus also features an onsite Chapel, Club House, and walking trails. Marcus & Millichap's Brooks Minford, associate in Miami, Rob Reis, vice president investments in San Francisco, and Douglas A. Danny, first vice president in San Diego, represented the seller and procured the buyer. Eddie Greenlight, broker, assisted in closing this transaction.

ATLANTA—Real estate investment firm Cabot Properties and industrial real estate developer Seefried Industrial Properties recently closed on 27.45 acres at the Cobb West Business Park in Austell, Georgia. The Cabot-Seefried joint venture plans to develop a 281,000-squre-foot speculative industrial building on the land that will be delivered in the third quarter of 2017. “This building can accommodate both front and rear loading tenants needing trailer storage in an attractive park environment,” says Greg Herren, senior vice president of Seefried. “The I-20 West submarket continues to be active with high-quality tenants.” NAI Brannen Goddard represented seller Jadow Realty Company in the transaction. The NAI Brannen Goddard team of Mike Chambers, Jack Haden and Brad Pope has been selected by Cabot-Seefried to market the new building for lease.

ATLANTA—The Atlanta office of Duke Realty Corporation brokered a lease with Armada Warehouse Solutions. Armada signed a long-term lease for a new 447,606-square-foot, build-to-suit facility at 3707 North Commerce Drive. Duke Realty had been designing its next speculative building on the site. The building is located in Camp Creek Business Center, its 400-acre, mixed-use business park in East Point, GA, south of Atlanta. Armada's new warehouse will be located near the north entrance of Camp Creek Business Center at the intersection of Camp Creek Parkway and North Commerce Drive just off Interstate285. The cross-dock building will feature 36' clear height and include 82 dock doors, 100 automobile parking spaces and 87 trailer spaces. Additionally, the space will contain approximately 107,700 square feet of freezer/cooler area inside the building. Construction is expected to start in December with delivery in July 2017.

BUILDING BLOCKS

ATLANTA—View will install more than 16,500 square feet of View Dynamic Glass at Coda at Tech Square, a mixed-use project developed by Portman Holdings. Scheduled to complete construction in Midtown Atlanta in 2019, Coda features View Dynamic Glass as one of the major technology showpieces of its 770,000-square-foot development. Unlike traditional windows that need blinds or shades, View Dynamic Glass automatically adjusts each window's tint to enable a comfortable environment with reduced heat and glare, and maximize natural light and unobstructed views for Coda's diverse set of occupants. View Dynamic Glass has already been installed in more than 250 projects across North America in workplace, education, hospitality, and healthcare segments, and more than 150 additional projects are in various stages of construction.

Real estate networks are growing. Awards are being given out. And new investors are still entering the Southeast multifamily market. Those are just a few of the highlights in the region's middle market this week.

BY THE NUMBERS

Led by the Nashville market, hotels in the South Central region consisting of Arkansas, Kentucky and Tennessee performed well in the first half of 2016 and prospects for additional growth during the entire year persist. More than 5,000 rooms are under construction in the region with delivery dates this year and afterward, but room demand will increase at a pace greater than the US rate of growth and lift annual occupancy. Increases in leisure travel and growth in business demand stemming from consistent payroll expansion raised key performance metrics in Arkansas and Kentucky in the first half of 2016. (Source: Marcus & Millichap)

Arkansas and Kentucky draw consistent interest from limited-service property investors, but Tennessee attracts most of the investment capital in the region. Nashville remains a market of intense interest due to its growing population and an expanding employment base. More than 3 million square feet of office space is under construction in the market, potentially providing new sources of room demand. Hotel owners in the market may increasingly elect to take advantage of minimal competitive listings and unfulfilled investor interest to test the transaction market. (Source: Marcus & Millichap)

NEWS & NOTABLES

HUNTSVILLE, AL—Berkshire Hathaway HomeServices, part of the HSF Affiliates family of real estate brokerage franchise networks, announced that independent brokerage Rise Real Estate will join the network Feb. 8 and operate as Berkshire Hathaway HomeServices Rise Real Estate. Founded in 1983, the brokerage is among North Alabama's largest real estate companies serving greater Huntsville and all of Madison County.

NASHVILLE, TN—Marty Rothchild, general manager of Embassy Suites by Hilton Nashville SE – Murfreesboro in Tennessee, returned to the John Q. Hammons Hotels & Resorts' (JQH) hospitality family earlier this year. Under his direction, the 283-suite hotel recently achieved the highest brand inspection status of “outstanding” for quality and service. An award-winning hospitality veteran Rothchild oversees the contemporary hotel that features the largest convention space in Middle Tennessee outside of Davidson County. Springfield, Missouri-based JQH is a leading private, independent owner and manager of hotels in the United States, including operating more than 1 million square feet of superb meeting space.

DEAL TRACKER

ATLANTA—Alan Joel and Dan Granot, principals at Joel & Granot Real Estate/CORFAC International (JGRE) brokered a 7,800-square-foot office lease to Peachtree Capital, which for more than 25 years has provided personalized and integrated tax and investment advice to businesses in Atlanta and throughout the Southeast. The company signed a 91-month lease and plans to move in first quarter 2017. Dave Smith and Charles Ratcliff with Joel and Granot Real Estate/CORFAC International represented the ownership in the leases. “The property was vacant and in total disrepair three years ago when we bought it with our investors,” says Joel. “The strong lease-up not only demonstrates the strength of the Buckhead/Atlanta office market in general, but also creates a new level of value for Class B+ office buildings in the Buckhead area.”

ATLANTA—NAI Brannen Goddard represented Alex Brown Realty, a private equity fund, in the sale of two office buildings located in the Atlanta market. Casey Keitchen, senior vice president of Investment Sales at NAI Brannen Goddard, was the only broker involved in the disposition of both assets: Northside Tower located at 6065 Roswell Road in Sandy Springs, GA and Crossing Center located at 1000 Johnson Ferry Road in Marietta, GA. The assets sold in separate off-market transactions to a family office fund, Stein Investment Group.

ATLANTA—Castle Lanterra Properties marked its entry into the Atlanta marketplace with the acquisition of Alta Coventry Station, a 322-unit multifamily community in the South Fulton submarket. “As the economic and cultural hub of the Southeast, the Atlanta area continues to attract major investments, jobs and new residents,” says CLP founder and CEO Elie Rieder. “The city is home to leaders in healthcare, education, transportation, retail and manufacturing, and the population is now growing at a faster rate than at any point since the recession. This strong economic foundation has enabled an award-winning city to continue to experience robust development.” Built in 2008, Alta Coventry Station is minutes from both Atlanta's CBD and the Hartsfield-Jackson Atlanta International Airport, the world's busiest airport and the largest employer for both the city and the property. Delta Air Lines alone has over 31,000 direct employees and indirectly supports tens of thousands of other local jobs.

MOBILE, AL—Marcus & Millichap brokered the sale of Brookside Retirement Community, a 32,200-square foot seniors housing property located in Mobile. The asset sold for $9.65 million.

The campus has been one of the premier locations for independent, assisted living and memory care for area residents since its construction in 1998. The facility includes 84 independent living residences, including 22 single family homes, a 32 bed assisted living facility, and a 16-unit memory care facility. The 27-acre campus also features an onsite Chapel, Club House, and walking trails. Marcus & Millichap's Brooks Minford, associate in Miami, Rob Reis, vice president investments in San Francisco, and Douglas A. Danny, first vice president in San Diego, represented the seller and procured the buyer. Eddie Greenlight, broker, assisted in closing this transaction.

ATLANTA—Real estate investment firm Cabot Properties and industrial real estate developer Seefried Industrial Properties recently closed on 27.45 acres at the Cobb West Business Park in Austell, Georgia. The Cabot-Seefried joint venture plans to develop a 281,000-squre-foot speculative industrial building on the land that will be delivered in the third quarter of 2017. “This building can accommodate both front and rear loading tenants needing trailer storage in an attractive park environment,” says Greg Herren, senior vice president of Seefried. “The I-20 West submarket continues to be active with high-quality tenants.” NAI Brannen Goddard represented seller Jadow Realty Company in the transaction. The NAI Brannen Goddard team of Mike Chambers, Jack Haden and Brad Pope has been selected by Cabot-Seefried to market the new building for lease.

ATLANTA—The Atlanta office of Duke Realty Corporation brokered a lease with Armada Warehouse Solutions. Armada signed a long-term lease for a new 447,606-square-foot, build-to-suit facility at 3707 North Commerce Drive. Duke Realty had been designing its next speculative building on the site. The building is located in Camp Creek Business Center, its 400-acre, mixed-use business park in East Point, GA, south of Atlanta. Armada's new warehouse will be located near the north entrance of Camp Creek Business Center at the intersection of Camp Creek Parkway and North Commerce Drive just off Interstate285. The cross-dock building will feature 36' clear height and include 82 dock doors, 100 automobile parking spaces and 87 trailer spaces. Additionally, the space will contain approximately 107,700 square feet of freezer/cooler area inside the building. Construction is expected to start in December with delivery in July 2017.

BUILDING BLOCKS

ATLANTA—View will install more than 16,500 square feet of View Dynamic Glass at Coda at Tech Square, a mixed-use project developed by Portman Holdings. Scheduled to complete construction in Midtown Atlanta in 2019, Coda features View Dynamic Glass as one of the major technology showpieces of its 770,000-square-foot development. Unlike traditional windows that need blinds or shades, View Dynamic Glass automatically adjusts each window's tint to enable a comfortable environment with reduced heat and glare, and maximize natural light and unobstructed views for Coda's diverse set of occupants. View Dynamic Glass has already been installed in more than 250 projects across North America in workplace, education, hospitality, and healthcare segments, and more than 150 additional projects are in various stages of construction.