Friday, November 6, 2015

Joint Venture Between Lincoln Harris and The CATO Corporation Files for Rezoning for York County Site in South Carolina

John W. Harris III
Charlotte, NC (Nov. 6, 2015) – A joint venture between Lincoln Harris and The Cato Corporation has filed for rezoning of a 360-acre site in York County, South Carolina. 

The plans for the site, which included the former Charlotte Knight’s baseball stadium, provide for 4 million square feet of Class A office space, 100,000 square feet of retail space, 300 residential units and a 150-room hotel.

Cato selected Lincoln Harris to be their joint venture partner earlier this year.  

“We are excited to partner with a company like The Cato Corporation to bring this much-needed development to the state,” said John Harris III, President of Lincoln Harris. 

“This site offers a fantastic location immediately adjacent to one of the first interchanges in South Carolina off I-77. Many companies have expressed a strong desire to locate to South Carolina, specifically to this growing region.”

John Cato
The Cato Corporation purchased 300 acres in the Gold Hill Road area in 2012, with plans to build a distribution center. And more recently, Cato purchased the former Charlotte Knight’s baseball stadium site and other adjacent parcels.

“Cato is excited about the development of the Gold Hill property,” said John Cato, CEO of The Cato Corporation.

 “Although our original intent for the property was development of a new Cato distribution center, we now feel the property has greater potential as a Class A mixed-use development. Cato has enjoyed a strong working relationship with York County, and has invested in additional property within York County for future distribution center development.”

The joint venture plans to finalize rezoning in the first quarter of 2016. Phase I is slated to include 500,000 square feet of office space, 100,000 square feet of retail space, 300 residential units and a 150-room hotel.

For a complete copy of the company's news release, please contact:

Savannah Duncan  The Wilbert Group 
1720 Peachtree St., Suite 350  Atlanta, Ga. 30309
O: 404-343-0870   M: 404-901-4433

Lincoln Brokers Office Leases Totaling More Than 100,000 Square Feet in North Fulton Atlanta, GA

Allison Bittel
ATLANTA, GA (Nov. 6, 2015) – Lincoln Property Company Southeast (Lincoln) has brokered office leases totaling more than 100,000 square feet in Atlanta’s North Fulton market totaling square feet.

 Michael Howell and Hunter Henritze of Lincoln represented the landlords in the transactions. Details are as follows:

·      SunTrust Mortgage signed a 6,992-square-foot lease renewal at One Northwinds Center, located at 2475 Northwinds Parkway in Alpharetta, Georgia.

·      Wells Fargo Advisors signed a 17,046-square-foot lease renewal at Two Northwinds Center, located at 2520 Northwinds Parkway in Alpharetta. Kirk Diamond and Dale Lewis of DTZ represented the tenant.

·      CenturyLink Communications signed a 20,197-square-foot lease renewal at Brookside One, located at 3625 Brookside Parkway in Alpharetta. Dave Kilborn of Newmark Grubb Knight Frank represented the tenant.

·      Guilford Insurance signed a new 12,180-square-foot lease at Preston Ridge IV, located at 3440 Preston Ridge Road in Alpharetta. Allison Bittell of Cushman & Wakefield represented the tenant.

Jennifer Ziegler
·      Biota Pharmaceuticals signed an 11,788-square-foot lease expansion at Three Northwinds Center, located at 2500 Northwinds Parkway in Alpharetta. Steve Farrar of Newburger Andes represented the tenant.

·      Thyssen Krupp signed a 19,745-square-foot lease expansion and renewal at 400 Northwinds Parkway in Alpharetta. Ed Riggins with Cresa Atlanta represented the tenant.

·      Auto Vin signed a new 8,656-square-foot lease at 800 North Point Parkway in Alpharetta. Jennifer Ziegler and Brannan Moss of JLL represented the tenant in the transaction.

·      Veeam Software signed a lease expansion for a total of 6,959 square feet at 2520 Northwinds Parkway in Alpharetta. Ellen Stern of CBRE represented the tenant.

·      McManamy McLeod Heller signed a new 4,590-square-foot lease at 11525 Haynes Bridge Road in Alpharetta. Jeff Taylor of Transwestern represented the tenant.
Ellen Stern
·      Windward Specialty Group signed a new 3,126-square-foot lease at 2500 Northwinds Parkway in Alpharetta. Tom Kubis of Studley represented the tenant.

·      Select Selling signed a 4,307-square-foot lease at 2520 Northwinds Parkway. Yancey Stribling of Lee & Associates represented the tenant.

For a complete copy of the company's news release, please contact:

Savannah Duncan
The Wilbert Group

HFF closes sale of The Crest at Princeton Meadows in Plainsboro, NJ

                                                                                                                   Photo by Christian Garibaldi

The Crest at Princeton Meadows, 3217 Ravens Crest Drive, Princeton submarket,
Plainsboro, NJ
Jose Cruz

FLORHAM PARK, NJ – Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of The Crest at Princeton Meadows, a 704-unit, garden-style apartment community in Plainsboro, New Jersey.

HFF marketed the property on behalf of the seller.  A joint venture between Harbor Group International and Azure Partners purchased the asset free and clear of existing debt.

The Crest at Princeton Meadows is 94 percent leased and has 37 two- and three-story residential buildings housing one- and two-bedroom units averaging approximately 830 square feet each.

 The community, which has undergone significant capital improvements since 2012, features amenities such as an outdoor swimming pool with sundeck, barbecue grills, tennis courts, volleyball court, putting green and playground.

 Situated on 40 acres at 3217 Ravens Crest Drive in the Princeton submarket of Middlesex County, the property is adjacent to the Meadows at Middlesex Golf Course and is approximately one mile from Route 1.  

Kevin O'Hearn
Additionally, the property is within six miles of Princeton University’s main campus and the Princeton Junction transit station.

The HFF investment sales team representing the seller was led by senior managing director Jose Cruz, managing director Kevin O’Hearn, associate directors Michael Oliver and Steve Simonelli and supported by senior managing director Andrew Scandalios.

“With this transaction, the seller successfully executed their business plan for this property that began in 2012.  The Crest was acquired as a repositioning play in Plainsboro and was sold as a premiere asset with future upside,” stated Cruz.  “Harbor Group and Azure performed flawlessly and closed as expected.”

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

Howard M. Heitner Joins WNC Advisory Board

Howard M. Heitner
IRVINE, CA  – WNC, a national investor in real estate and community development initiatives, announced Howard M. Heitner, a 35-year veteran of the affordable housing, legal and financial industries, has joined the company’s advisory board. 

“Howard is a consummate professional who brings a wealth of expertise and wisdom to WNC,” said Will Cooper Jr., president and chief executive officer of WNC. “His extensive knowledge and leadership experience will be a valuable addition to our company, our investor base and the communities we serve.”

Spanning more than three decades, Heitner began his career in 1976 with the Federal Reserve Board in Washington, D.C. He has also served as president and member of the investment committee of JRK Residential America; as chief operating officer of SunAmerica Affordable Housing Partners; and spent nearly two decades as a partner with O’Melveny & Myers LLP.

Heitner earned a bachelor’s degree from Bucknell University, as well as an M.B.A. and juris doctorate from the University of Chicago. He has served as chairman of the board of The Los Angeles Conservancy, and as a member of the: Hollywood Community Housing Board, Shelter Partnership Board, Menorah Housing Foundation Board, Curtis School Board and Adobe Community Board’s finance committee.

Will Cooper Jr.

Heitner joins other WNC advisory board members:

·         Jim Ashby, who has 20 years of experience as an entrepreneur and business leader and currently serves as chief executive officer of CareMeridian, a healthcare services company;

·         Denise Kiley, a 25-year veteran of the real estate industry, including 15 years specializing in low-income housing tax credits (LIHTC); and

·         Michael Novogradac, managing partner in the San Francisco office of Novogradac & Company LLP, with 25 years of experience in affordable housing, community development and renewable energy.

For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703