Original Southeast commercial real estate news & events for Atlanta, Carolinas, Memphis, Miami, Nashville, Orlando and Washington D.C. metro area; plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
Holliday Fenoglio Fowler, L.P. reports it arranged $20.30 million in financing for Tricera Capital's purchase of the 360,000-square-foot building at 2751 South Dixie Highway.
In addition to its corporate headquarters at 5332 Avion Park Drive in Tampa, the firm also shut the doors at its other three locations—8888 E. Raintree Drive in Scottsdale, AZ; 450 N. New Ballas Road in the St. Louis suburb of Creve Coeur, MO and 644 Eden Park Drive in Cincinnati, OH.
Piedmont Office's president C. Brent Smith says the REIT is pleased it sold the 334,000-square foot building because it reduces its exposure to the Southwest DC submarket.
The site is currently planned for the development of approximately 560,000 square feet of office space and is located along the pedestrian bridge to MARTA's Buckhead station adjacent to a number of dining, retail, high-rise residential and hotels properties.
The name Lakeside correlates to a high asset value but that doesn't mean changing the name of an apartment building to Lakeside will create more value.
Weaver, in his South Florida Multifamily 2019 Forecast report, stated that the near decade of strong performance is not setting up the multifamily sector in South Florida for another crash.