Charleston, S.C. – Frampton Construction Company, LLC, a regional full-service construction firm providing planning and design support, preconstruction, and construction services, is underway on demolition and construction at the site of The Shelmore, a Class-A mixed-use property located at 774 South Shelmore Blvd. in Mount Pleasant, S.C. The adaptive reuse project involves the redevelopment of a former BI-LO grocery store into nearly 50,000 square feet of office space.

The new space will feature a spacious lobby with a two-story “jewel box” entry, 18-foot ceilings, and the potential for a variety of floor plans suitable for both small and large office users. The existing retail surrounding the building will also receive exterior upgrades to match the new façade.

Chad Frampton, president and CEO of Frampton Construction, said, “We’re thrilled to have the opportunity to take an underutilized space like this and completely transform it for a new, creative use. With perks like walkable dining and its proximity to downtown, The Shelmore will be a strong addition to the Mount Pleasant office and retail market.”

Complete demolition of the interior is underway to make room for office space, and over 30 windows and 10 sky lights will be added to the building’s exterior to provide abundant natural lighting. Further improvements to the exterior include a new TPO roof, the addition of two new building entrances, and installation of curtainwall plus storefront around the entire building. Extensive landscaping and an outdoor dining patio are also in the scope of work.

Collett Capital partnered with Lions Gate Capital, LLC, and WECCO Development to develop the project. Construction started in February of 2020 and is expected to be complete by the Fall. LS3P Associates is the project architect.

Frampton Construction is a regional full-service construction firm offering planning and design support, preconstruction, and construction services. The dedicated team of professionals takes pride in building strong relationships with clients while providing the highest quality of service. They deliver executive leadership and personal oversight throughout the building process, while working diligently to exceed the expectations of every client. With offices in Charleston, S.C., and Charlotte, N.C., the company is positioned to manage projects in the Southeast and beyond. For more information, please visit http://frampton.construction/ or call 843-572-2400 (Charleston) or 704-900-0511 (Charlotte).

 By CRBJ Biz Wire

Collett Capital, LLC along with its partners Lions Gate Capital, LLC and WECCO Development, LLC have announced the start of construction on the redevelopment of 774 South Shelmore Blvd. in Mount Pleasant into The Shelmore, a Class-A mixed use property. The Shelmore adaptive reuse will offer almost 50,000 square feet of creative office space and feature an expansive lobby with a two-story jewel box entry, a comprehensive building amenity package, abundant green space and activated open outdoor gathering areas. In addition, The Shelmore will feature approximately 12,000 square feet of complimentary retail space anchored by local tenants Langdon’s, Second State Coffee and Top Shape.

Located in the heart of Mount Pleasant and only a few minutes from downtown Charleston and I-26 / I-526, The Shelmore will offer prospective tenants Class A amenities, ample free parking and creative office aesthetics including 18-foot ceilings, abundant natural light and potential for open floor plans and collaborative common areas. On-site amenities will include an outdoor covered seating area and dog park, gym, nature trails, lakeside seating and high end to casual dining options. The Shelmore will be able to accommodate small to large office users with delivery scheduled for Fall 2020.

Collett Capital and Lions Gate Capital have assembled an experienced local team to help execute on the redevelopment. WECCO Development, LLC, a Charleston-based development firm best known for its work on The Cigar Factory and GARCo Mill, is lead development partner on the project. LS3P Associates is the project architect and Frampton Construction is the general contractor. Richard Morse and Trad Dyches with Palmetto Commercial Properties are leading the office leasing.

Article by: The Moultrie News

Collett Capital and Long Warf Capital purchased the 321,000-square-foot retail asset. HFF arranged acquisition financing on behalf of the borrower, which plans to upgrade the property.

Collett Capital and Long Warf Capital have partnered again to the purchase Beaver Creek Crossing, a 321,000-square-foot power center in Apex, N.C. According to Wake County records, the joint venture paid $52.8 million for the retail property.

The retail center spans across 52 acres at 1479 Beaver Creek Commons Drive, near U.S. highways 64 and 540. Downtown Raleigh is 17.5 miles east, while Raleigh-Durham International Airport is 15 miles northeast from the property.

Built in 2005, Beaver Creek Crossing is currently 96 percent occupied by national and regional tenants, including T.J. Maxx/HomeGoods, Regal Beaver Creek, Dick’s Sporting Goods, Old Navy, Five Below and Ulta Beauty. The center is an important retail hub for the surrounding communities, serving more than 109,000 residents living within a 5-mile radius, with an average annual household income of $132,000 living.

Article By:
Adriana Marinescu, Associate Editor, Commercial Property Executive

ADRIANA.MARINESCU@CPE-MHN.COM

https://www.cpexecutive.com/post/jv-acquires-raleigh-area-power-center-for-53m/

CHARLOTTE, NC – HFF announces that it has arranged $37.5 million in acquisition and renovation financing for Beaver Creek Crossing, a 320,629-square-foot retail power center in the Raleigh-area community of Apex, North Carolina.

HFF worked on behalf of the borrower, a partnership between Collett Capital and Long Warf Capital, to place the five-year, floating-rate loan with MetLife Real Estate Investments.

Completed in 2005, Beaver Creek Crossing is 96.3% leased to a strong line-up of national and regional tenants, including T.J.Maxx/HomeGoods, Regal Beaver Creek, Dick’s Sporting Goods, Old Navy, Five Below, and Ulta Beauty. The center is situated on 51.6 acres at 1479 Beaver Creek Commons Drive proximate to Highway 64 and Highway 540 (Triangle Expressway) in Apex, a rapidly growing Wake County community located southwest of Raleigh and known for its favorable, affluent demographics and high levels of home ownership  The center serves as the premier retail hub for the surrounding residential communities and has a back entrance connecting the center to the dense residential population to the south.  More than 109,000 residents earning an average annual household income of $132,000 live within a five-mile radius of the center.

The HFF debt placemen team representing the borrower was led by senior managing director Travis Anderson and senior director Cory Fowler.

Apex, NC — Collett Capital has acquired Beaver Creek Crossings, a 320,629-square-foot power center anchored by Regal Beaver Creek 12, Dick’s, Five Below, and TJ Maxx.  David Webb, Will Walton and Laura Hensler of Berkeley Capital Advisors represented the seller.

ORLANDO, FL – November 20, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $26.156 million sale of and $18.915 million acquisition financing for International Drive Value Center, a 186,000-square-foot power center in Orlando, Florida.

The HFF team marketed the property on behalf of the seller, Retail Value Inc. (RVI).  A partnership between Collett Capital and Long Wharf Capital purchased the asset.  Additionally, working on behalf of the new owner, the HFF team placed the five-year, floating-rate acquisition loan with TD Bank.  Loan proceeds will be used for the acquisition and to fund future capital improvements.

International Drive Value Center is 95 percent leased and anchored by multiple national and regional tenants, including Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx, dd’s DISCOUNTS, Five Below and Dollar Tree.  The center spans 23 acres and is at 5295 International Drive.  Located at the epicenter of central Florida, International Drive Value Center is approximately six miles from downtown Orlando, 8.5 miles northeast of Walt Disney World® and less than one mile southeast from Universal Studios.  Additionally, the center is in the nation’s No. 1 retail submarket, the International Drive Retail submarket.

The HFF investment advisory team representing the seller included senior managing director Brad Peterson, senior director Whitaker Leonhardt and associate Michael Brewster.

The HFF debt placement team representing the new owner consisted of senior managing director Travis Anderson, senior director Cory Fowler and managing director Rebecca Van Reken.

“Orlando is one of the most highly sought-after retail investment markets in the U.S. in 2018,” Peterson said.  “We have the No. 4 fastest-growing population and No. 2 fastest-growing workforce in the U.S., which is squarely on the radar of investors.  So far in 2018, our team has priced 12 retail centers totaling more than $360 million in value in Orlando, and investor enthusiasm has been very robust.”

International Drive Value Center is one of the premier retail centers in central Florida, and, given its prime location in the heart Orlando’s dynamic and thriving tourist corridor, many of the tenants achieve sales volumes far in excess of chain averages,” Leonhardt added.  “The future of the asset looks even brighter given the continued success of the nearby Orlando International Premium Outlets combined with the new nearby mixed-use developments.”

Source: https://www.hfflp.com/media-center/press-releases/press-release-details.html?docID=198306

OrthoCarolina, a Charlotte-based orthopedic practice, will have some new digs in Pineville come 2019.

The practice is moving its location on Park Road to a new, 20,000-square-foot space in the former Terraces at Park Place shopping center, previously anchored by Bi-Lo, at the corner of Pineville-Matthews Road and Interstate 485.

Collett Capital acquired all 81,440 square feet of the shopping center for $12.35 million as of Aug. 8. Collett, along with partners Lions Gate Capital and OrthoCarolina, plans to transform the location into Terraces Medical Plaza. Starbucks and Sabor Latin Street Grill will also occupy space there.

“The new OrthoCarolina Pineville location will be both accessible and modern, and provide superior access for our patients near where they live,” says Dr. Bruce Cohen, chief executive of OrthoCarolina.

OrthoCarolina also opened a 16,000-square-foot, revamped office space in SouthPark in November of last year. That office includes a new, more modern design and 30 patient rooms. Employees there are also utilizing a technological system to get patients in and out faster.

Cathie McDonald, chief operating officer, told the Charlotte Business Journal the SouthPark office is part of a pilot to improve efficiency and access to care. Plans for the Terraces Medical Plaza project appear to fall under this model as well.

Flagship Healthcare Properties is leasing out the Pineville property. Spaces ranging from 5,000 square feet up to 25,000 square feet are available.

Flagship hopes to turn over the new space to OrthoCarolina in March, but the medical practice will continue to see patients at the office on Park Road until it moves into the new space next June.

OrthoCarolina employs about 1,700 people here. Its 32 orthopedic offices span from Boone to Kernersville, with nearly half of those concentrated in the Charlotte region. Other services include physical therapy, MRI and urgent care.

By: Caroline Hudson, Staff Writer
Charlotte Business Journal

Charlotte, NC — Collett Capital has acquired Terraces at Park Place, an 81,440-square-foot shopping center located at I-485 and Pineville- Matthews Road near Carolina Place Mall in Pineville, NC.  Alex Quarrier, Rob Carter, David Webb and Rad von Werssowetz of Berkeley Capital Advisors arranged the transaction on behalf of the seller. Collett Capital plans to convert this former grocery-anchored shopping center into a medical plaza, with lead tenant Ortho Carolina anchoring the redevelopment.

ATLANTA, GA – April 30, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of Cherokee Commons, a 103,711-square-foot, Kroger-anchored shopping center in the Atlanta suburb of Acworth, Georgia.

The HFF team marketed the property on behalf of the seller, PMAT Companies.  Collett Capital purchased the asset free and clear of existing debt.

The 89-percent-leased Cherokee Commons is anchored by Kroger, the No. 1 grocer in Georgia, and is home to a variety of shop tenants.  Situated at 6199 Highway 92 in Acworth, which is less than 30 miles north of downtown Atlanta, the center is in Cherokee County, the fastest-growing county in the Atlanta MSA.  More than 1,400 homes are planned or under construction in the area immediately surrounding the property, and more than 69,000 residents earning an average annual household income of $89,000 live within a three-mile radius of Cherokee Commons.

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Michael Allison and real estate analyst Ryan Stoffer.

About PMAT Companies
The PMAT Companies is a real estate development firm focused on value-add shopping center investments across the Southeast, Sunbelt, Mid-West, and Mid-Atlantic regions.  The PMAT Companies have acquired and renovated thirty-five primarily grocery anchored shopping centers with an aggregate value of approximately $700 Million dollars consisting of nearly five million square feet.  PMAT’s investment strategy is to acquire value-add shopping centers and create long term value through redevelopment and re-tenanting of the assets. For more information, visit pmat.net.

About Collett Capital
Collett Capital is a privately owned acquisition platform that focuses on acquiring undervalued community shopping centers in the southeast, southwest and Midwest, and southeastern real estate assets with existing cash flow and the potential for long-term capital appreciation.  For more information, visit collettcapital.com.

About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.  HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.  HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).  For more information, please visit hfflp.com or follow HFF on Twitter @HFF.

Source:  https://www.hfflp.com/media-center/press-releases/press-release-details.html?docID=181969

By Rhett Morgan Tulsa World
Posted: Friday, January 27, 2017

WinCo Foods’ decision to locate a new store in Tulsa is part of an expansion of its footprint in Oklahoma and north Texas.

“Clearly, there’s a need for WinCo Foods in Tulsa because we offer incredibly low prices and a really good shopping experience,” a spokesman said Thursday in a telephone interview. “The people of Oklahoma, as we’ve seen so far in the stores that we’re about to open, people are incredibly hungry for it and very, very receptive. That’s incredibly encouraging to us.”

WinCo Foods, a 24-hour store whose corporate headquarters are in Boise, Idaho, this month signed a lease with Crossing Oaks Shopping Center owner Crossing Oaks Investment LLC, for a seven-acre parcel at 7136 S. Memorial Drive, Tulsa County Clerk records indicate.

The roughly 85,000-square-foot store in Tulsa is scheduled to employ about 180 full- and part-time workers and could open sometime in 2018, the spokesman said. It will join WinCo facilities in Moore (set to open in May), Midwest City (August) and Oklahoma City (September), the company representative said.

Although WinCo is new to Tulsa, one company executive has ties to the city. Rich Charrier, executive vice president and chief operating officer, grew up in Tulsa and graduated from Memorial High School in the 1970s.

The chain has scheduled a grand opening for its $135 million distribution center in Denton, Texas, in late February. The Lone Star State has nine WinCo stores of the more than 100 company locations nationwide.

“It’s about our commitment to the area,” the WinCo rep said. “What that allows us to do is cut out the middleman. We’re able to deal directly with producers and vendors. We can buy in huge quantities because of the size of our warehouse. Then we can pass the savings on to the customers based on that.”

WinCo, which doesn’t accept credit cards and has no baggers, positions itself as a “low-price leader” that provides a “world-class customer experience,” the spokesman said. It also operates on an Employee Stock Ownership Plan, meaning employees are partial owners of the company.

“That’s a very big part of our perception of ourselves,” he said. “We want this experience to be good because we work for ourselves.”

WinCo is part of the redevelopment planned at Crossing Oaks Shopping Center, which counts Sunshine Furniture and Ross Dress for Less among its biggest retailers.