Hines-Led Team Inks Refi for Cary Mixed-Use Project
Hines-Led Team Inks Refi for Cary Mixed-Use Project
Hines, Affinius Capital and Columbia Development have secured a $191 million senior mortgage for Fenton, a 92-acre mixed-use district in the Cary submarket of Raleigh/Durham, North Carolina. Fenton is Cary’s first vertically integrated, mixed-use destination.
Fenton, created in 2021, includes 246,000 square feet of retail space, 357 multifamily units as part of The Allison and 183,000 square feet of office space.
JLL Capital Markets worked on behalf of the borrowers to arrange the loan from New York Life Real Estate Investors. JLL’S Chip Sykes and Kelsey Bawcombe led JLL’s debt advisory team.
Commercial Search reports, near Cary Town Boulevard, Fenton provides easy access to the Raleigh-Durham-Chapel Hill area and I-40. It is 15 minutes from downtown Raleigh and has robust employment hubs, such as the Research Triangle Park. The region has a population of 2 million.
The post Hines-Led Team Inks Refi for Cary Mixed-Use Project appeared first on Connect CRE.
Hines, Affinius Capital and Columbia Development have secured a $191 million senior mortgage for Fenton, a 92-acre mixed-use district in the Cary submarket of Raleigh/Durham, North Carolina. Fenton is Cary’s first vertically integrated, mixed-use destination. Fenton, created in 2021, includes 246,000 square feet of retail space, 357 multifamily units as part of The Allison and 183,000 …
The post Hines-Led Team Inks Refi for Cary Mixed-Use Project appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
Hines, Affinius Capital and Columbia Development have secured a $191 million senior mortgage for Fenton, a 92-acre mixed-use district in the Cary submarket of Raleigh/Durham, North Carolina. Fenton is Cary’s first vertically integrated, mixed-use destination. Fenton, created in 2021, includes 246,000 square feet of retail space, 357 multifamily units as part of The Allison and 183,000 …
The post Hines-Led Team Inks Refi for Cary Mixed-Use Project appeared first on Connect CRE.
Land Sales Trio Joins Atlanta Partners Office
Land Sales Trio Joins Atlanta Partners Office
Partners Real Estate has brought on Atlanta Land Sales brokers Matt Hawkins, Pierce Owings, and Sarah Morgan. Their role is to grow the firm’s land sales practice in Atlanta.
Since opening in June 2024, the company’s newest office is now more than 20 brokers strong and boasts expertise across the gamut of commercial real estate offerings, including Office Tenant Representation, Office Agency Leasing, Industrial Services, Development, and now Land.
Hawkins , who came from Cushman & Wakefield, arranged over $2 billion in transactions, and facilitated the land sales for projects that shaped the region such as Truist Park, The Battery, and Rowen to name a few.
Pierce Owings, who also came from Cushman & Wakefield, joins as an Equity Partner. Owings delivered sites now home to Madison Yards and 99 West Paces.
Sarah Morgan will serve as Senior Associate. Sarah joined the land team in 2023 after working as a Senior Consultant at Deloitte.
The post Land Sales Trio Joins Atlanta Partners Office appeared first on Connect CRE.
Partners Real Estate has brought on Atlanta Land Sales brokers Matt Hawkins, Pierce Owings, and Sarah Morgan. Their role is to grow the firm’s land sales practice in Atlanta. Since opening in June 2024, the company’s newest office is now more than 20 brokers strong and boasts expertise across the gamut of commercial real estate …
The post Land Sales Trio Joins Atlanta Partners Office appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
Partners Real Estate has brought on Atlanta Land Sales brokers Matt Hawkins, Pierce Owings, and Sarah Morgan. Their role is to grow the firm’s land sales practice in Atlanta. Since opening in June 2024, the company’s newest office is now more than 20 brokers strong and boasts expertise across the gamut of commercial real estate …
The post Land Sales Trio Joins Atlanta Partners Office appeared first on Connect CRE.
Proposed Rock Hill Chip Plant for Sale
Proposed Rock Hill Chip Plant for Sale
Not long ago Pallidus had plans to build a a $443 million semiconductor plant in Rock Hill. The company was eyeing two buildings at 1786 and 1800 Overview Drive for not only the new plant, but offices as well. They were also looking to hire over 400 workers.
The Charlotte Business Journal reports the company pulled the plug on the project in October of last year and laid off 44% of its workforce and now the complex is back on the market. Avison Young’s Chris Loyd, Tom Tropeano and Henry Lobb are leading marketing efforts for the buildings, which are owned by Calare Properties.
Called Overview Center, the larger building is a 212,263-square-foot former manufacturing facility. It includes over 50,000 square feet of office space. The smaller building is a 74,934-square-foot building — which was constructed in 2021 — and includes 1,500 square feet of office space. The buildings are in Waterford Business Park near Waterford Golf Club.
The post Proposed Rock Hill Chip Plant for Sale appeared first on Connect CRE.
Not long ago Pallidus had plans to build a a $443 million semiconductor plant in Rock Hill. The company was eyeing two buildings at 1786 and 1800 Overview Drive for not only the new plant, but offices as well. They were also looking to hire over 400 workers. The Charlotte Business Journal reports the company …
The post Proposed Rock Hill Chip Plant for Sale appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
Not long ago Pallidus had plans to build a a $443 million semiconductor plant in Rock Hill. The company was eyeing two buildings at 1786 and 1800 Overview Drive for not only the new plant, but offices as well. They were also looking to hire over 400 workers. The Charlotte Business Journal reports the company …
The post Proposed Rock Hill Chip Plant for Sale appeared first on Connect CRE.
Nashville-Area Offices Sell for Steep Discount
Nashville-Area Offices Sell for Steep Discount
The Westpark Building, a five-story office building in Brentwood’s Maryland Farms, sold at auction for $6.3 million to a local investor. The Nashville Business Journal reports the office building was owned by First National Bank of Tennessee, which acquired the property from Crestview Funds through foreclosure. Crestview paid $24.81 million for the building in December 2013.
The latest auction, which was held live on January 16, attracted 29 bidders.
The Westpark Building, located at 111 Westwood Place, was built in 1982 and offers nearly 100,000 square feet of office space on a 5.14-acre lot. The building was last appraised in 2023 for $17.253 million, and it has been vacant since late 2024.
The buyer plans to renovate the property and return it to the leasing market.
Two downtown towers went down in value in recent sales. Last month, East Coast investment firm Wheelock Street Capital sold downtown’s Philips Plaza at a $94.5 million loss and Parkway Towers at a $21 million loss.
The post Nashville-Area Offices Sell for Steep Discount appeared first on Connect CRE.
The Westpark Building, a five-story office building in Brentwood’s Maryland Farms, sold at auction for $6.3 million to a local investor. The Nashville Business Journal reports the office building was owned by First National Bank of Tennessee, which acquired the property from Crestview Funds through foreclosure. Crestview paid $24.81 million for the building in December 2013. The …
The post Nashville-Area Offices Sell for Steep Discount appeared first on Connect CRE. Read MoreAtlanta & Southeast Commercial Real Estate News
The Westpark Building, a five-story office building in Brentwood’s Maryland Farms, sold at auction for $6.3 million to a local investor. The Nashville Business Journal reports the office building was owned by First National Bank of Tennessee, which acquired the property from Crestview Funds through foreclosure. Crestview paid $24.81 million for the building in December 2013. The …
The post Nashville-Area Offices Sell for Steep Discount appeared first on Connect CRE.
Atlanta developer pitches $5 billion data center in Newton County
Atlanta developer pitches $5 billion data center in Newton County
The proposed Newton County project follows a string of data centers that are planned in the outer parts of metro Atlanta.
The proposed Newton County project follows a string of data centers that are planned in the outer parts of metro Atlanta. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
The proposed Newton County project follows a string of data centers that are planned in the outer parts of metro Atlanta.
Atlanta developer pitches $5 billion data center in Newton County
Atlanta developer pitches $5 billion data center in Newton County
The proposed Newton County project follows a string of data centers that are planned in the outer parts of metro Atlanta.
The proposed Newton County project follows a string of data centers that are planned in the outer parts of metro Atlanta. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
The proposed Newton County project follows a string of data centers that are planned in the outer parts of metro Atlanta.
For Mall West End, beginning of the end has begun
For Mall West End, beginning of the end has begun
For Mall West End, beginning of the end has begun
Josh Green
Fri, 01/17/2025 – 14:25
After a run that spanned more than 50 years, West End’s shopping mall is slated to close by the end of January.
According to developers The Prusik Group and BRP Companies, the demolition and construction phase is on the horizon for Mall West End, a suburban-style shopping enclave and longtime community cornerstone that’s struggled in recent years with vacancies like many traditional malls.
The mall is set to be replaced in coming years with a multifaceted project called One West End, which will include some 1.7 million square feet of development and cost in the ballpark of $450 million.
The initial phase is scheduled to debut in about three years.
Before the mall locks up for good this month, developers say four longtime tenants are being relocated to a temporary onsite location at 850 Oak St. that will allow them to continue operating throughout the entirety of One West End’s development.
Those businesses—apparel store The Burning Sands, Dendera Cosmetics, True Hair, and American Deli—will be allowed to open in fresh, permanent retail spaces once development is complete, according to project officials.
Meanwhile, a Planet Fitness location situated near the middle of the 12-acre site will continue operating where it stands during phase one of construction, per officials.
The most recent proposed redevelopment of parking lots at Oak and Dunn streets.
Prusik Group/BRP Companies; One West End
Broader look at proposed mid-rise construction and a new through-street where Mall West End currently stands. Prusik Group/BRP Companies; One West End
BRP Companies and The Prusik Group, both New York City-based real estate companies, closed on Mall West End’s property in October for an undisclosed price.
Those firms are redeveloping the retail center in partnership with the City of Atlanta, Atlanta Beltline Inc., and Atlanta Urban Development Corporation, a local nonprofit entity that aims to develop underused public land into mixed-income housing.
The mall originally opened in 1973, replacing a commercial district and numerous West End houses.
One West End’s first components are scheduled to open in 2028, leveraging the site’s proximity to downtown, MARTA, the Beltline, and Atlanta University Center, among other attractions. Developers have said upcoming rounds of community input will help shape what the project becomes.
Key facets of the redevelopment are set to include roughly 125,000 square feet of retail with a grocery store, local boutiques, a fitness center, and food-and-beverage options. At least 10,000 square feet of commercial space that leases at affordable rates will also be in the mix for qualified local small businesses, along with 12,000 square feet of medical office space, per the city.
Other sections would see a 150-room hotel built, plus roughly 900 units of mixed-income rental housing.
According to city officials, 70 percent of those rentals would be reserved as workforce housing, while 20 percent would rent at 50 percent of the area median income or less, and 10 percent at 80 percent AMI.
Elsewhere would be student housing and communal perks that include bike parking, a public greenspace, resident lounges, and activated streetscapes, per the city.
General scope of the 1970s mall property and its 12 acres, with MARTA rail shown at right. Google Maps
Three earlier visions for a mall site revival in West End fell apart, including a slightly smaller proposal (1.5 million square feet of total development) from The Prusik Group and BRP.
The development team has vowed to contribute at least $500,000 to a fund that will help qualifying commercial tenants with rent credits and tenant improvement allowances.
Funding for the deal includes $19 million in acquisition financing provided by Merchants Capital, plus a $5 million acquisition loan from Atlanta Urban Development and another $5 million from Beltline coffers, city officials have said.
…
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Twitter / Facebook/and now: Instagram
• West End news, discussion (Urbanize Atlanta)
General scope of the 1970s mall property and its 12 acres, with MARTA rail shown at right. Google Maps
The Prusik Group and BRP Companies’ vision for Ralph David Abernathy Boulevard (fist revealed in 2022) is included with new marketing materials.
Prusik Group/BRP Companies; One West End
How residential would be stacked over neighborhood amenities at One West End. Prusik Group/BRP Companies; One West End
The most recent proposed redevelopment of parking lots at Oak and Dunn streets.
Prusik Group/BRP Companies; One West End
Broader look at proposed mid-rise construction and a new through-street where Mall West End currently stands. Prusik Group/BRP Companies; One West End
For Mall West End, beginning of the end has begun
Josh Green
Fri, 01/17/2025 – 14:25
After a run that spanned more than 50 years, West End’s shopping mall is slated to close by the end of January.
According to developers The Prusik Group and BRP Companies, the demolition and construction phase is on the horizon for Mall West End, a suburban-style shopping enclave and longtime community cornerstone that’s struggled in recent years with vacancies like many traditional malls.
The mall is set to be replaced in coming years with a multifaceted project called One West End, which will include some 1.7 million square feet of development and cost in the ballpark of $450 million.
The initial phase is scheduled to debut in about three years.
Before the mall locks up for good this month, developers say four longtime tenants are being relocated to a temporary onsite location at 850 Oak St. that will allow them to continue operating throughout the entirety of One West End’s development.
Those businesses—apparel store The Burning Sands, Dendera Cosmetics, True Hair, and American Deli—will be allowed to open in fresh, permanent retail spaces once development is complete, according to project officials.
Meanwhile, a Planet Fitness location situated near the middle of the 12-acre site will continue operating where it stands during phase one of construction, per officials.
The most recent proposed redevelopment of parking lots at Oak and Dunn streets.
Prusik Group/BRP Companies; One West End
Broader look at proposed mid-rise construction and a new through-street where Mall West End currently stands. Prusik Group/BRP Companies; One West End
BRP Companies and The Prusik Group, both New York City-based real estate companies, closed on Mall West End’s property in October for an undisclosed price.
Those firms are redeveloping the retail center in partnership with the City of Atlanta, Atlanta Beltline Inc., and Atlanta Urban Development Corporation, a local nonprofit entity that aims to develop underused public land into mixed-income housing.
The mall originally opened in 1973, replacing a commercial district and numerous West End houses.
One West End’s first components are scheduled to open in 2028, leveraging the site’s proximity to downtown, MARTA, the Beltline, and Atlanta University Center, among other attractions. Developers have said upcoming rounds of community input will help shape what the project becomes.
Key facets of the redevelopment are set to include roughly 125,000 square feet of retail with a grocery store, local boutiques, a fitness center, and food-and-beverage options. At least 10,000 square feet of commercial space that leases at affordable rates will also be in the mix for qualified local small businesses, along with 12,000 square feet of medical office space, per the city.
Other sections would see a 150-room hotel built, plus roughly 900 units of mixed-income rental housing.
According to city officials, 70 percent of those rentals would be reserved as workforce housing, while 20 percent would rent at 50 percent of the area median income or less, and 10 percent at 80 percent AMI.
Elsewhere would be student housing and communal perks that include bike parking, a public greenspace, resident lounges, and activated streetscapes, per the city.
General scope of the 1970s mall property and its 12 acres, with MARTA rail shown at right. Google Maps
Three earlier visions for a mall site revival in West End fell apart, including a slightly smaller proposal (1.5 million square feet of total development) from The Prusik Group and BRP.
The development team has vowed to contribute at least $500,000 to a fund that will help qualifying commercial tenants with rent credits and tenant improvement allowances.
Funding for the deal includes $19 million in acquisition financing provided by Merchants Capital, plus a $5 million acquisition loan from Atlanta Urban Development and another $5 million from Beltline coffers, city officials have said.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• West End news, discussion (Urbanize Atlanta)
Tags
850 Oak Street SW
One West End
The Mall West End
West End Mall
Prusik Group
Harlem
South Bronx
Tishman Speyer
Ackerman and Co.
Southwest Atlanta
Dabar Development Partners
Elevator City Partners
Ryan Gravel
Donray Von
Gentrification
Atlanta University Center
Lee + White
Gensler
Atlanta Development
Atlanta Malls
food desert
BRP Companies
Atlanta Urban Development Corporation
Atlanta Urban Development
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affordable housing
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Images
General scope of the 1970s mall property and its 12 acres, with MARTA rail shown at right. Google Maps
The Prusik Group and BRP Companies’ vision for Ralph David Abernathy Boulevard (fist revealed in 2022) is included with new marketing materials.
Prusik Group/BRP Companies; One West End
How residential would be stacked over neighborhood amenities at One West End. Prusik Group/BRP Companies; One West End
The most recent proposed redevelopment of parking lots at Oak and Dunn streets.
Prusik Group/BRP Companies; One West End
Broader look at proposed mid-rise construction and a new through-street where Mall West End currently stands. Prusik Group/BRP Companies; One West End
Subtitle
1970s community cornerstone set to close this month, be replaced with $450M “One West End”
Neighborhood
West End
Background Image
Image
Associated Project
Mall West End redevelopment
Before/After Images
Sponsored Post
Off Read More
For Mall West End, beginning of the end has begun
Josh Green
Fri, 01/17/2025 – 14:25
After a run that spanned more than 50 years, West End’s shopping mall is slated to close by the end of January.
According to developers The Prusik Group and BRP Companies, the demolition and construction phase is on the horizon for Mall West End, a suburban-style shopping enclave and longtime community cornerstone that’s struggled in recent years with vacancies like many traditional malls.
The mall is set to be replaced in coming years with a multifaceted project called One West End, which will include some 1.7 million square feet of development and cost in the ballpark of $450 million.
The initial phase is scheduled to debut in about three years.
Before the mall locks up for good this month, developers say four longtime tenants are being relocated to a temporary onsite location at 850 Oak St. that will allow them to continue operating throughout the entirety of One West End’s development.
Those businesses—apparel store The Burning Sands, Dendera Cosmetics, True Hair, and American Deli—will be allowed to open in fresh, permanent retail spaces once development is complete, according to project officials.
Meanwhile, a Planet Fitness location situated near the middle of the 12-acre site will continue operating where it stands during phase one of construction, per officials.
The most recent proposed redevelopment of parking lots at Oak and Dunn streets.
Prusik Group/BRP Companies; One West End
Broader look at proposed mid-rise construction and a new through-street where Mall West End currently stands. Prusik Group/BRP Companies; One West End
BRP Companies and The Prusik Group, both New York City-based real estate companies, closed on Mall West End’s property in October for an undisclosed price.
Those firms are redeveloping the retail center in partnership with the City of Atlanta, Atlanta Beltline Inc., and Atlanta Urban Development Corporation, a local nonprofit entity that aims to develop underused public land into mixed-income housing.
The mall originally opened in 1973, replacing a commercial district and numerous West End houses.
One West End’s first components are scheduled to open in 2028, leveraging the site’s proximity to downtown, MARTA, the Beltline, and Atlanta University Center, among other attractions. Developers have said upcoming rounds of community input will help shape what the project becomes.
Key facets of the redevelopment are set to include roughly 125,000 square feet of retail with a grocery store, local boutiques, a fitness center, and food-and-beverage options. At least 10,000 square feet of commercial space that leases at affordable rates will also be in the mix for qualified local small businesses, along with 12,000 square feet of medical office space, per the city.
Other sections would see a 150-room hotel built, plus roughly 900 units of mixed-income rental housing.
According to city officials, 70 percent of those rentals would be reserved as workforce housing, while 20 percent would rent at 50 percent of the area median income or less, and 10 percent at 80 percent AMI.
Elsewhere would be student housing and communal perks that include bike parking, a public greenspace, resident lounges, and activated streetscapes, per the city.
General scope of the 1970s mall property and its 12 acres, with MARTA rail shown at right. Google Maps
Three earlier visions for a mall site revival in West End fell apart, including a slightly smaller proposal (1.5 million square feet of total development) from The Prusik Group and BRP.
The development team has vowed to contribute at least $500,000 to a fund that will help qualifying commercial tenants with rent credits and tenant improvement allowances.
Funding for the deal includes $19 million in acquisition financing provided by Merchants Capital, plus a $5 million acquisition loan from Atlanta Urban Development and another $5 million from Beltline coffers, city officials have said.
…
Follow us on social media:
Twitter / Facebook/and now: Instagram
• West End news, discussion (Urbanize Atlanta)
Tags
850 Oak Street SW
One West End
The Mall West End
West End Mall
Prusik Group
Harlem
South Bronx
Tishman Speyer
Ackerman and Co.
Southwest Atlanta
Dabar Development Partners
Elevator City Partners
Ryan Gravel
Donray Von
Gentrification
Atlanta University Center
Lee + White
Gensler
Atlanta Development
Atlanta Malls
food desert
BRP Companies
Atlanta Urban Development Corporation
Atlanta Urban Development
Affordable Housing
affordable housing
Merchants Capital
Images
General scope of the 1970s mall property and its 12 acres, with MARTA rail shown at right. Google Maps
The Prusik Group and BRP Companies’ vision for Ralph David Abernathy Boulevard (fist revealed in 2022) is included with new marketing materials.
Prusik Group/BRP Companies; One West End
How residential would be stacked over neighborhood amenities at One West End. Prusik Group/BRP Companies; One West End
The most recent proposed redevelopment of parking lots at Oak and Dunn streets.
Prusik Group/BRP Companies; One West End
Broader look at proposed mid-rise construction and a new through-street where Mall West End currently stands. Prusik Group/BRP Companies; One West End
Subtitle
1970s community cornerstone set to close this month, be replaced with $450M “One West End”
Neighborhood
West End
Background Image
Image
Associated Project
Mall West End redevelopment
Before/After Images
Sponsored Post
Off
From Minnesota to Midtown: Cargill unveils Atlanta tech hub
From Minnesota to Midtown: Cargill unveils Atlanta tech hub
It joins the innovation district at Midtown’s Technology Square.
It joins the innovation district at Midtown’s Technology Square. Read MoreBizjournals.com Feed (2022-04-02 21:43:57)
It joins the innovation district at Midtown’s Technology Square.
From Minnesota to Midtown: Cargill unveils Atlanta tech hub
From Minnesota to Midtown: Cargill unveils Atlanta tech hub
It joins the innovation district at Midtown’s Technology Square.
It joins the innovation district at Midtown’s Technology Square. Read MoreBizjournals.com Feed (2019-09-06 17:16:48)
It joins the innovation district at Midtown’s Technology Square.
Insignia Snags Distressed Atlanta Office Asset
Insignia Snags Distressed Atlanta Office Asset
Insignia has acquired Parkside Terraces, a 20-acre Alpharetta office campus that sold for much less than the previous owner paid for it.
The Atlanta Business Chronicle reports Insignia took title to the property for $15 million through a deed in lieu of foreclosure. That was almost 70% less than the previous owner paid for the property about six years ago. Insignia secured a $10 million loan from White Oak Assets LLC for the transaction.
Parkside Terraces’ previous owner, Ravinia Capital Group, bought the property for $48.1 million in April 2019. Ravinia had secured a $39.2 million loan from Citizens Bank National Association, which matured in May 2024.
Parkside Terraces is on Mansell Road, not far from North Point Mall. It includes 127,000-square-foot and 156,000-square-foot buildings and is about 80% leased.
Similarly, Insignia acquired the Embassy Row in Sandy Springs for $34 million in late 2023 through a deed in lieu of foreclosure. A bank loan attached to the property at time of sale was for $60 million.
The post Insignia Snags Distressed Atlanta Office Asset appeared first on Connect CRE.
Insignia has acquired Parkside Terraces, a 20-acre Alpharetta office campus that sold for much less than the previous owner paid for it. The Atlanta Business Chronicle reports Insignia took title to the property for $15 million through a deed in lieu of foreclosure. That was almost 70% less than the previous owner paid for the …
The post Insignia Snags Distressed Atlanta Office Asset appeared first on Connect CRE. Read MoreAtlanta Metro Commercial Real Estate News
Insignia has acquired Parkside Terraces, a 20-acre Alpharetta office campus that sold for much less than the previous owner paid for it. The Atlanta Business Chronicle reports Insignia took title to the property for $15 million through a deed in lieu of foreclosure. That was almost 70% less than the previous owner paid for the …
The post Insignia Snags Distressed Atlanta Office Asset appeared first on Connect CRE.