NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $7 million sale of a mixed-use development site in the East New York area of Brooklyn. The site at 749 Van Sinderen Ave. currently houses multiple single-story warehouses and can support 103,500 square feet of buildable product. Sean Kelly, Stephen Vorvolakos and Gabriel Elyaszadeh of Ariel represented the seller in the transaction. Josh Malekan of Venture Capital Partners represented the buyer. Both parties requested anonymity.
HOUSTON — Transwestern has broken ground on a mixed-use project in Houston’s River Oaks district that represents the next phase of The Ro, a 17-acre development located at the intersection of West Alabama Street and Buffalo Speedway. The ensuring phase of The Ro will feature The Birdsall, Auberge Collection, which will consist of 44 residences and 105 boutique hotel rooms; The Clayton, a 317-unit apartment community; 80,000 square feet of retail and restaurant space; and office space. The previous phase of The Ro featured a 145,000-square-foot office building that is nearing completion and scheduled for tenant occupancy in June 2026. The Birdsall and The Clayton, as well as the retail component of the next phase, are expected to be delivered in late 2027.
SANDY SPRINGS, GA. — Los Angeles-based Westwood Financial has purchased the retail component of Glenridge Square, a mixed-use development located at 5610 Glenridge Drive in Sandy Springs. The live-work-play property is situated adjacent to I-285 in Atlanta’s Central Perimeter submarket. The seller and sales price were not disclosed. Glenridge Square features 20,001 square feet of ground-level retail space that was 91 percent leased at the time of sale to tenants including Qdoba, Firehouse Subs, Blue Moon Pizza, Sushi Nami, Taziki’s Mediterranean, DaVinci’s Donuts, Venus Nail Lounge and Beauty Enhanced. The property also includes 168 apartments and 80,000 square feet of office space leased to tenants including Go2Foods’ headquarters (roughly 800 employees) and Haverty’s (about 3,000 employees). The offices and apartments were not included in the sale.
ATLANTA — New York City-based developer Rockefeller Group has topped out 1072 West Peachtree, a 60-story mixed-use building in Midtown Atlanta. According to the development team, upon completion, which is set for next spring, 1072 West Peachtree will be the tallest building constructed in Atlanta in the past three decades. Plans for the building currently call for 224,000 square feet of office space across eight floors, 357 multifamily units and 6,300 square feet of ground-floor retail and restaurant space. In addition to its office and residential components, the building will offer roughly 43,000 square feet of indoor and outdoor amenities. Specific amenities will include a resort-style athletic club with strength and cardio training areas and full-service locker rooms, as well as wellness-focused offerings such as private spa treatment rooms, sauna rooms, frost lockers and recovery spaces. In addition, the club will also include an indoor Pilates studio, a private training studio and a pickleball court. Lastly, 1072 West Peachtree will feature the Sky Garden. According to the developer, The Sky Garden will be Midtown Atlanta’s largest outdoor deck, designed with seating areas for collaboration or relaxation, as well as a lawn FOR gathering, gaming and hosting events. Turner Construction is …
TERRELL, TEXAS — Main Square Development has announced that the company has received approval from the Terrell City Council for the development of Terra Nova, a new $3 billion master-planned community. Situated roughly 30 miles east of Dallas, the development will feature 1,200 multifamily units and a 48-acre mixed-use district, as well as 3,600 single-family homes. The mixed-use component of the development will include 200,000 square feet of shops, restaurants and offices anchored by a main square. Terra Nova will also feature 145 acres of parks and trails, including 27 neighborhood parks connected by 30 miles of biking and hiking trails, with an additional 220 acres of open natural space. The first phase will include a neighborhood pool and amenity center, and a regional amenity center will be added in a future phase. Project plans include 15 phases over the next 20 years. Plano, Texas-based Main Square is working with the Terrell Independent School District to identify locations for future elementary and middle schools that will ensure Terra Nova’s future residents have access to public education. The developer is also dedicating six acres for new police station and fire department facilities, in addition to one acre reserved for a new …
NASHVILLE, TENN. — Simon Property Group (NYSE: SPG) plans to develop Sagefield, a 100-acre mixed-use destination that will be located on the south side of Nashville. The construction timeline for the project was not released. Situated in the hills of Williamson County, the planned project will feature lifestyle shops, restaurants and service retail spaces, as well as a landmark hotel by Author & Edit Hospitality, a hotel brand helmed by restaurateur and hotelier Sam Fox of Fox Restaurant Concepts. “This exciting new development will set a new standard for quiet luxury in metro Nashville and beyond,” says Eric Sadi, co-president of Simon’s North American real estate division. Simon is collaborating on Sagefield with Adventurous Journeys Capital Partners (AJ Capital), a Nashville-based firm that specializes in mixed-use and adaptive reuse development. Simon and AJ Capital are currently collaborating on Nashville Premium Outlets, a 325,000-square-foot outlet mall that will break ground next year in Thompson’s Station, Tenn. Plans for Sagefield also call for first-to-market boutique retailers, household-name operators, farm-to-table restaurants and cafés, an organic market, entertainment venues and health and wellness concepts. The development’s planned hotel will offer signature restaurants, a high-end spa, sports and a social members club. Simon says that …
BALTIMORE — MAG Partners has announced its exit from the master development team of Baltimore Peninsula, a $5.5 billion mixed-use development underway in south Baltimore. The multi-phase, 235-acre development, formerly branded as Port Covington, is led by Sagamore Ventures, a developer founded by Under Armour’s CEO Kevin Plank, as well as Goldman Sachs Urban Investment Group and the City of Baltimore. MacFarlane Partners has also been a member of the development team since joining alongside MAG Partners in 2022, but the San Francisco-based firm has also left the project, according to the Baltimore Business Journal. The news outlet also reported that MAG Partners will stay involved in several office leases in the works alongside leasing agent Courtenay Jenkins of Cushman & Wakefield. In its departure statement, MAG Partners says the firm was involved in opening 1.1 million square feet of commercial space at Baltimore Peninsula and stabilizing 450 apartments since joining the development team in May 2022. The Baltimore Business Journal reports that Sagamore Ventures is seeking out development partners for the remaining phases of Baltimore Peninsula.
HARDEEVILLE, S.C. — HIC Land has begun construction on Carolina Station, a $300 million master-planned development in Hardeeville, about 17 miles north of Savannah, Ga. Situated along U.S. Highway 278, the project will span 2,600 acres in the state’s Lowcountry region. HIC Land, which originally acquired the historic Morgan tract for $36 million, has partnered with homebuilder D.R. Horton for the development of an undisclosed number of single-family homes within the campus. Carolina Station will also feature more than 650 multifamily units and 95 acres of commercial space, including shops, restaurants and service retailers. D.R. Horton has committed to invest $8 million to improve the intersection at U.S. Highway 278 and John Smith Road as part of the Carolina Station master plan. The construction timeline of the multi-phase development was not released.
ATLANTA — A partnership between locally based real estate company Third & Urban and HighBrook Investors has acquired Corporate Square, a 30-acre office park in the Brookhaven area of Atlanta, with plans to redevelop the property into a $605 million mixed-use district. Patterson Real Estate Advisory Group arranged the financing for the acquisition. The project, dubbed Northbend, is moving forward after the partnership received approval to rezone the site as a master-planned development. Third & Urban is currently in the process of securing partnerships for the initial phases of vertical construction. Construction of Northbend, which is situated between Buford Highway and I-85 near the newly opened Children’s Healthcare of Atlanta Arthur M. Blank Hospital, is scheduled to commence in summer 2026. Eight obsolete office buildings will be demolished to allow for new infrastructure and improved road networks. According to the development team, Northbend is expected to generate $8.2 million in annual tax revenue for the city upon completion, while creating more than 400 construction jobs and over 300 permanent jobs. “Northbend will transform an outdated, underutilized office park into a vibrant gathering place for the Brookhaven community and beyond,” says Hank Farmer, partner at Third & Urban. “This redevelopment is a catalyst for …
LEANDER, TEXAS — Baltimore-based developer St. John Properties has broken ground on Phase I of Leander Tech Park, a 110,000-square-foot mixed-use project on the northern outskirts of Austin. The project is being developed on a speculative basis on a 50-acre site and will consist of two industrial/research-and-development (R&D) buildings that will total roughly 90,000 square feet and two inline retail buildings that will total about 20,000 square feet. Completion of the industrial/R&D building is slated for next summer. Delivery of retail space is scheduled for next fall.
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