Cushman & Wakefield Arranges Charlotte Investment Sale for Bridge Investment Group

Office Buildings are 93% Leased to 20 Tenants Cushman & Wakefield has arranged the sale of Fairview Center, a two-building office property totaling 182,758 square feet in Charlotte’s SouthPark submarket across from SouthPark Mall. Rob Cochran, Jared Londry, Nolan Ashton, David Meline, and Samir Idris of Cushman & Wakefield represented the seller, Bridge Investment Group, in the transaction. CapRidge Partners, a value-add office investment and management firm located in Austin, Texas, acquired the properties. “Given its location in the heart of SouthPark with the associated walkable amenities and the beautiful renovations executed by Bridge, Fairview Center has enjoyed consistently high occupancy levels and rental rates,” Cochran said. “This stability and potential for strong income growth was especially attractive to CapRidge and other investors considering this offering.” Located at 6302 and 6230 Fairview Road, Fairview Center is 93% leased to 20 tenants. Fairview Center’s parking ratio of 5.0 spaces per 1,000 [...]

2019-07-16T11:57:35-04:00July 16th, 2019|In the News|

Cushman & Wakefield Arranges Sales of Two Multifamily Properties $49.5M

The Madison and Southgate are Primed for Organic Rent Growth   Cushman & Wakefield has arranged the sale of The Madison and Southgate, two apartment communities in Greenville, South Carolina, totaling 645 units for $49.5 million. Watson Bryant, Jordan McCarley and Paul Marley of Cushman & Wakefield represented the seller, SYNCO Properties, in the transaction. Monarch Investment & Management acquired the property.   “We were completely satisfied with the entire sales process and outcome for the two assets, including the large number of high caliber buyers involved in the final negotiations leading to the PSA for the 645 units,” said Timothy Hose, President & CEO of SYNCO Properties.  Surrounded by retail, employment, and a top-notch demographic base, The Madison and Southgate are primed for organic rent growth in addition to opportunities for ancillary income through various value-add and additional revenue initiatives. Strong performance for the Greenville market is expected to continue with effective rents forecasted to maintain sustainable long-term growth, as absorption [...]

2019-07-15T09:40:25-04:00July 16th, 2019|In the News|

Cushman & Wakefield Arranges $22.3M Sale for Upstate Property Rentals

Southern Pines Poised for Continued Rent Growth Cushman & Wakefield has arranged the $22.3 million sale of Southern Pines, a 352-unit apartment community located in Spartanburg, South Carolina. Tai Cohen, Jordan McCarley and Watson Bryant of Cushman & Wakefield represented the seller, Upstate Property Rentals, in the transaction. Represented by SVN Blackstream, Nakash Family Land Trust and Mendel Fischer acquired the property. Funding was provided through Eastern Union and Bancorp. “Southern Pines is located along the commerce-rich I-85 corridor in the East-Spartanburg submarket, surrounded by global employers like BMW, making it a prime investment for new ownership to capitalize on the region’s tremendous growth,” Cohen said. Perfectly located in East Spartanburg with very little supply, Southern Pines, built in 1976, is positioned for continued rent growth. Amenities include two swimming pools, a fenced dog park, fitness center and picnic and grilling areas. Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked [...]

2019-07-15T09:29:25-04:00July 15th, 2019|In the News|

Cushman & Wakefield Selected by Artesia for Property Management and Project Development Services for Arrowood Station

Former Walmart to be Converted to Creative Office Space Cushman & Wakefield has been retained by Artesia for Property Management and Project Development Services for Arrowood Station, located at 801 E. Arrowood Road in Charlotte’s Airport submarket. Josh Hammer will lead Property Management and Andrew Laing will oversee Project Development Services. David Dorsch and Jessica Brown of Cushman & Wakefield are the leasing agents for the property. “We’re honored to partner with such an innovative and forward-thinking group like Artesia,” said Wendy Monroe, Operations Director, Asset Services at Cushman & Wakefield. “Infusing spirit and creating new opportunities for the massive influx of companies to Charlotte is what adaptive reuse is all about. Each submarket and the land beneath it has a patchwork of history, stories and experiences. Playing a role in the ‘future component’ and evolution of Charlotte real estate is something our team is passionate about.” The 115,000-square-foot redevelopment [...]

2019-07-12T14:22:56-04:00July 11th, 2019|In the News|

Cushman & Wakefield Arranges $23.35M Sale for MAS Broken Arrow

Apartment Community Sells for $108,127 Per Unit Cushman & Wakefield has arranged the $23.35 million sale of Heron Lake, an apartment community located in Columbia, South Carolina. Tai Cohen, Jordan McCarley and Marc Robinson of Cushman & Wakefield represented seller, MAS Broken Arrow, in the transaction. Collins Group acquired the property. “We are excited by our first South Carolina purchase and appreciate the support from Cushman & Wakefield,” said David Parnes, Senior Vice President at Collins Group. “We look forward to yet another successful value-add implementation on Heron Lake.” With attractive, low-maintenance brick and Cementitious fiberboard exteriors, Heron Lake is a high-quality asset in the booming Columbia MSA. Amenities include bike storage, car care center, fitness center, pool, sand volleyball courts and a pet park. “Heron Lake residents enjoy seamless access to premier retail and employment centers,” Cohen said. “Sitting in the heart of northern Richland County’s path of growth [...]

2019-06-19T09:23:16-04:00June 19th, 2019|In the News|

Cushman & Wakefield Arranges 10,900-Square-Foot Lease for Garfinkel Immigration Law Firm

SouthPark Towers I Law Firm to Expand Lease in SouthPark Towers Cushman & Wakefield has arranged a 10,900-square-foot lease renewal and expansion for Garfinkel Immigration Law Firm at SouthPark Towers I in Charlotte’s SouthPark submarket. Tenant Representative Specialist Keith Bell CCIM, SIOR, of Cushman & Wakefield represented the tenant in the lease negotiations and Anne Vulcano and Stephanie Spivey of CBRE represented the landlord, CSHV SouthPark, LLC. “We pull talent from a wide geographic radius, so the central location and accessibility are key, as is the diversity of retail and restaurant options all around us,” said Steve Garfinkel, Managing Partner of Garfinkel Immigration Law Firm. “We appreciate that we have room to grow here. Our staff will grow to more than 50 professionals this year, and we anticipate additional growth in the future.” Garfinkel Immigration Law Firm is leveraging the opportunity in the lease renewal to expand and modernize the [...]

2019-06-12T10:30:02-04:00June 12th, 2019|In the News|

Cushman & Wakefield Arranges Sale of Quail Plaza for TriGate Capital

Five-Story Office Building is Currently 89% Leased Cushman & Wakefield has arranged the sale of Quail Plaza, a five-story, 89,760-square-foot office building located in Charlotte, North Carolina. Jared Londry, Rob Cochran, and Nolan Ashton of Cushman & Wakefield represented the seller, TriGate Capital, in the transaction. Adler Real Estate Partners acquired the property. “TriGate Capital invested significant capital into Quail Plaza to make it a competitive option for office tenants seeking Class A office space in an in-town location,” Londry said. “Office tenants have become more fluid between South Charlotte, Ballantyne, and SouthPark as rates have increased across the city, positioning newly renovated assets like Quail Plaza as a compelling option if and when space becomes available.” During the last five years, the South Charlotte submarket has experienced strong rent growth with office rates jumping as much as 50% for renovated assets as the market continues to tighten and options [...]

2019-06-03T16:40:34-04:00June 3rd, 2019|In the News|

Cushman & Wakefield Arranges $41M Multifamily Sale for McCall Capital

Enclave Blythewood Sells for $106,771 Per Unit Cushman & Wakefield has arranged the $41 million sale of Enclave Blythewood, a 384-unit apartment community located In Blythewood, South Carolina. Tai Cohen, Watson Bryant and Jordan McCarley of Cushman & Wakefield represented the seller, McCall Capital, in the transaction. Southwood Realty/Triangle Real Estate acquired the property, which has been renamed The Palisades of Blythewood. “Offering a high-quality asset at an attractive basis in one of Columbia’s most rapidly expanding submarkets, Enclave Blythewood presents new ownership with strong operational momentum and a multi-layer value-add program to immediately boost revenue,” Cohen said. Enclave Blythewood, built in two phases in 2008 and 2015, is ideally positioned in north Richland County's expanding economic core, with 2,600 jobs within two miles and 1,825 additional jobs announced in the same region since April 2017. Cushman & Wakefield’s Southeast Multifamily Advisory Group ranked No. 1 in market share in [...]

2019-05-29T10:44:57-04:00May 30th, 2019|In the News|

Cushman & Wakefield Arranges $19.28M Multifamily Sale

Commons at Fort Mill Sells for $133,888 Per Unit Cushman & Wakefield has arranged the $19.28 million sale of Commons at Fort Mill, a 144-unit apartment community located in Fort Mill, South Carolina. Watson Bryant, Jordan McCarley and Brooks Colquitt of Cushman & Wakefield represented the seller, Cedar Grove SC III, LLC, in the transaction. Rincon Partners acquired the property. Commons at Fort Mill represents the first entry into the Southeast for Rincon Partners. “Rincon targets properties that are undermanaged or in need of significant capital expenditures to maximize their value,” said Carson Hammer of Rincon Partners. “The Fort Mill area is one of the top-performing economies of the Charlotte MSA and has experienced rapid and broad-based population growth and job creation for the past several years. It is expected to continue to outperform.” Delivered in 2009, Commons at Fort Mill is located in the heart of the thriving Rock [...]

2019-05-08T14:54:46-04:00May 10th, 2019|In the News|

Cushman & Wakefield Arranges $12.6M Sale for Stream Realty Partners

69,831-Square-Foot Forest Park VI Fully Leased to Four Tenants   Cushman & Wakefield has arranged the $12.6 million sale of Forest Park IV, a 69,831-square-foot, fully leased office building located in Charlotte, North Carolina. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield represented the seller, Stream Realty Partners, in the transaction. Highland Ventures acquired the property.  Forest Park VI is a Class A, single-story office building featuring high-density parking and work areas. The building is located at 8215 Forest Point Boulevard, near the interchange of Interstate 77 and Interstate 485, within the highly regarded Forest Park development. Forest Park is comprised of eight attractively designed office buildings as well as several hotels and restaurants.   “Forest Park has historically been dominated by high-density, single-tenant office users,” Ashton said. “Stream did a fantastic job repositioning Forest Park VI into a multi-tenant office building to accommodate mid-size office users who previously had limited options in Forest Park. The stable rent roll, extensive base-building capital improvements [...]

2019-04-15T10:19:44-04:00April 15th, 2019|In the News|