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Tuesday
Aug152017

Conn.-based investor pays $10.8M for South Street apartments 

An affiliate of Westport, Conn.-based real estate investment firm Dalzell Capital Partners LLC has paid $10.8 million for 1430 South St., a 34-unit apartment building with ground-floor retail space.

The acquisition is Dalzell’s first in Philadelphia, the company said in a news release Monday. It is teaming with Philadelphia real estate firm OCF Realty, owned by developer Ori Feibush, to manage the property and advise on future acquisitions in the city, it said.

The purchase, from an entity called New South Philly LP, closed on Thursday, Dalzell managing partner Christian Dalzell said in an email. New South Philly is an affiliate of Wendell Family Investments Ltd., which is incorporated in Delaware, according to state records.

>>Read Full Article Here

Wednesday
Apr192017

Tesla Charging Station at Courtyard in Charleston, WV

Construction has begun for a Tesla Supercharger station in Charleston, the second in West Virginia.

The station, exclusively for the Palo Alto-based company’s Model S and Model X cars, will be located in the parking lot of the Courtyard by Marriott hotel at 100 Kanawha Blvd. E.

Charlie Wendell of Mountain Shore Properties, which owns the property, said the station will occupy eight parking spaces bordering Virginia St. E. The station being classified as a “Supercharger” means it can replenish up to 170 miles of range for Tesla vehicles in 30 minutes.

Wendell said construction is likely to finish in May.

Tesla owners in the Charleston area currently have limited options for charging stations.

There are more than 800 Tesla Superchargers in the United States, but only one currently available in West Virginia. It’s located at the Hampton Inn in Triadelphia, off Interstate 70 in the Northern Panhandle.

The nearest Superchargers from Charleston all take two hours or more of driving time, being located in Wytheville, Virginia; Lexington, Virginia; and Lexington, Kentucky, according to the company’s website.

West Virginia also features four destination chargers, but three are only available for patrons of the hotel or resort they are connected to. The one open to the public is at the Hawks Nest State Park in Ansted. Destination chargers use less power and have a slower charge time.

Wendell said the station is much needed for Tesla owners in the area or those just passing through, as Interstates 64, 77 and 79 are all close to the city.

“There’s [a Supercharger] in the Northern Panhandle, but there isn’t one in the body of the state,” he said. “When you take that into account, there’s no question it could succeed.”

The proximity to the newly built Starbucks also benefits Tesla drivers, Wendell said.

“Most of those charges take about 30 minutes, so they could walk over to Starbucks, check their emails and get a cup of coffee while they wait,” he said.

>>Read Full Article Here 

Monday
Jul112016

Developer Signs Lease for Freestanding Starbucks on the Boulevard

Rendering courtesy of Williamson Shriver Architects Inc.A rendering of the proposed Starbucks, the first freestanding coffee house for the chain in Charleston, is shown.

By: Elaina Sauber
July 11, 2016
One of the nation’s most popular coffeehouse chains is planning to open a second location in Charleston.
 

Developer Charlie Wendell said he’s signed a lease with Starbucks to build a freestanding cafe — complete with outdoor seating and a drive-thru — on Kanawha Boulevard, just three blocks from the Civic Center.

The coffee shop will be built next to the Courtyard by Marriott hotel, which Wendell completed in 2014. 

He already owns the land in question, which is nestled between the hotel’s parking lot and Shoney’s. 

Wendell said he’ll complete the necessary underground utility work and build the “shell,” while Starbucks will be responsible for completing its interior. 

He had originally planned to build extra hotel parking on the site, but decided against it during the build out. 

“We determined we didn’t need the extra parking for the hotel, so we decided to hold the site for future development,” Wendell said. 

Eventually, he was approached by Starbucks. Over the last several months, the two parties have been negotiating a lease deal.

“I believe at the end of the day, this makes a very positive overall setting for that area,” he said. 

While there’s already a Starbucks on the first floor in the Charleston Town Center mall, it doesn’t offer free parking or a drive-thru.

>>Read Full Article Here

Wednesday
Jun292016

Major Hotel Chain Making Home in Tallahassee

By: Erin Lisch 
June 29, 2016

TALLAHASSEE, Fla. (WCTV) --A major hotel chain will make its home in Tallahassee
.
Right off of Railroad Avenue and Gaines Street will be a new Hampton Inn & Suites.

Developed by Mountain Shore Properties, the hotel will be 6 stories, with 124 rooms.

Work is expected to begin this year, and the hotel is expected to open in 2018.

One local gas station welcomes this new place for people to stay.

Running the gas station, Khalid Mahmood said, "I'm excited about that to see for my business. There will be more people in the area, so it's definitely going to bring more business. Only thing is my concern is we are losing that local community thing."

You can check out the rendering of the hotel here.

>>Read Full Article Here

Thursday
May052016

SoBro Hyatt House hotel Site Sold for $7.9 Million

Getahn Ward, gward@tennessean.com 11:12 a.m. CDT May 5, 2016, http://www.tennessean.com

A hospitality-focused developer has acquired 1.2 acres in the area south of Broadway to build a roughly 200-room, at least six-story Hyatt House hotel that would mark its Nashville debut.

MountainShore Properties LLC just paid $7.9 million, or roughly $157 a square foot, for the site at the northwest corner of Fifth Avenue South and Lea Avenue.

The firm with offices in Fayetteville, W. Va., and  Charleston, S.C., hopes to break ground early next year and open the extended stay hotel in late 2018. The more than $40 million project is also expected to include 2,500 to 3,000 square feet of ground-floor retail space.

MountainShore Principal Stephen Wendell said Nashville has been on the short list of cities where the developer wanted to develop a hotel.

"Very few markets today have the appeal Nashville does to the hospitality industry," he said. "In fact, the combination of factors here that generate demand for hotel rooms — tourism, music, colleges, state government, corporate headquarters, professional sports and a new convention center — is almost unparalleled."

Among appeals of the SoBro property, Wendell cited proximity to the Music City Center conventional hall, accessibility to downtown and SoBro plus other extended stay hotels and apartments being built nearby.

>>Read Full Article Here