ARLINGTON, VA. — Lincoln Equities Group (LEG) and JM Zell Partners have submitted an application to convert the former headquarters of the Transportation Security Administration (TSA) in Arlington’s Pentagon City neighborhood into apartments. The project would reposition the two vacant office buildings, which the TSA vacated in 2020, into a property with 637 apartments and 31,000 square feet of retail space. In addition to converting 571,564 square feet of obsolete office space, plans for the 4.9-acre site include developing 116,244 square feet of new residential floor area, two new retail areas and a half-acre public plaza that connects to the Metro, as well as maintaining the 900-space underground parking garage that serves both buildings. LEG and JM Zell’s plans were submitted to Arlington County earlier this month and are pending review and approval. The design-build team includes Arquitectonica (architect) and Oculus (landscape architect). The co-developers have selected Wire Gill LLP as their land use attorney.
BOSTON — Shaving products company P&G Gillette has unveiled plans to purchase 232 A Street in South Boston as the future home of its nearly $1 billion Grooming Headquarters and Technical Innovation Center. The company is also expanding its Andover, Mass., manufacturing facility and redeveloping its 31-acre South Boston campus. The new headquarters announcement marks the single-largest investment made by Gillette in Boston, according to the company. The site is currently owned by Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital. It is permitted for a 324,315-square-foot research-and-development facility with ground-floor retail space. Jonathan Varholak of CBRE led the brokerage team that facilitated the land sale. Gillette says the purchase of the site unlocks multiple project benefits agreed to when the site was permitted by Breakthrough Properties in 2024. Once complete, the project will contribute 1.5 acres of publicly accessible open space along the Fort Point Channel, including new sidewalks, bike lanes, a waterfront park and improvements to the South Boston Harborwalk. The parcel also includes monetary allocations for public art and shuttle services. “This new development will keep hundreds of high-tech research-and-development jobs in the city and serves as a testament to the strength of our …
CHARLESTON, S.C. — The Container Collective, a holistic wellness center and coworking community for practitioners, will relocate to Morris Square, a mixed-use redevelopment in downtown Charleston. Formerly situated at 210 Coming St., The Container Collective has purchased a ground-floor condominium to relocate its wellness and massage therapy practice to 21 Jasper St. Renovations are expected to begin soon, with the new location opening upon completion. GiGi Gilden and Jack Owens of NAI Charleston represented The Container Collective in the transaction. Shea Robbins of Carolina One Real Estate represented the undisclosed seller. The sales price was also not disclosed.
BONITA SPRINGS, FLA. — The Zuckerman Group has signed leases with two new national retailers at Midtown at Bonita, a 68-acre mixed-use development under construction in Bonita Springs, about 15 miles north of Naples. T.J. Maxx and Ulta Beauty will join the lineup at Midtown at Bonita, bringing the amount of leased retail space to 100,000 square feet. Other committed tenants include Chipotle Mexican Grill, Panera Bread, The Hangry Bison, Club Pilates, Good Vets, Jeff’s Bagel Run, Noire the Nail Bar, Bonita Beach Wine & Spirits, Gelato&Co., LowBrow Pizza & Beer, Mathnasium, a dental office operated by Pacific Dental Services, Cold Stone Creamery, The UPS Store, Mason’s Famous Lobster Rolls and Three Sixteen Cafe, among others. Construction of the development’s retail component broke ground in November, with the first tenants expected to move in this spring. Upon full build-out, Midtown at Bonita will feature a 165-room boutique hotel, a luxury apartment complex and 30 acres of preserved open space, in addition to the shops, restaurants and service retailers.
Atlantic Cos. Secures Construction Financing, Breaks Ground on Mixed-Use Project in Roswell, Georgia
ROSWELL, GA. — The Atlantic Cos. has secured construction financing and commenced construction on Hillrose Market, a seven-acre mixed-use development in downtown Roswell, a northern suburb of Atlanta. The financing included debt from SouthState Bank and a revenue bond issued by the Roswell Downtown Development Authority. Patterson Real Estate Advisory Group arranged the financing. Located adjacent to City Hall with a walking trail connection to the city’s Canton Street district, Hillrose Market will comprise a six-building, 75,000-square-foot retail village surrounding a central greenspace, as well as an office building dubbed 25 Hill along Atlanta Street and an adaptive reuse of the former Roswell Police Department dubbed Station 37 that will feature ground-floor retail space and a second-level workplace. The overall development will also include 143 luxury rental flats and 16 two-story brownstone townhomes. Atlantic Cos. plans to deliver the project in the second half of 2027. The design-build team includes ASD | SKY (architect), Westbridge (commercial consultant), New South Construction Co. (general contractor), Kimley-Horn (civil engineer) and Crosby Design Group (interior design for the multifamily component). Bridger Properties is handling the development’s retail leasing assignment, and Cushman & Wakefield is handling office leasing.
NEW YORK CITY — JLL has negotiated the $53 million sale of a mixed-use development site in Lower Manhattan’s Financial District. The site at 75–83 Nassau St. offers approximately 275,000 square feet of permitted zoning floor area, including 225,000 square feet of residential space that could yield as many as 265 units. Andrew Scandalios, Ethan Stanton, Jonathan Hageman and Michael Mazzara of JLL represented the seller, New York-based investment firm Lexin Capital, in the transaction. The buyer, a partnership between Fulltime Management and Montgomery Street Partners, plans to develop a residential building with ground-floor retail and second-floor commercial space.
SILVER SPRING, MD. — MCB Real Estate has signed Costco Wholesale to anchor Viva White Oak, a $2.8 billion mixed-use development in Maryland’s Montgomery County. Situated a little more than 12 miles northeast of Washington, D.C., Viva White Oak will span 280 acres near the headquarters of the U.S. Food and Drug Administration (FDA) and the Adventist HealthCare White Oak Medical Center in Silver Spring. The 162,000-square-foot store will be the fourth Costco within a 10-mile radius of Viva White Oak, according to MCB. Viva White Oak is approved for more than 12 million square feet of mixed-use development, including 5,000 new residences, both for-sale and rental, as well as new shops, restaurants, a hotel and medical office space. Last week, the Montgomery County Council unanimously approved its first-ever Tax Increment Financing (TIF) district to advance Viva White Oak. MCB says it will use the TIF to unlock about $320 million for infrastructure. According to MCB, Viva White Oak is expected to generate more than 17,000 construction jobs, 9,000 permanent jobs and an estimated $62 million in annual revenue for Montgomery County. Phase I is expected to generate $1.2 billion in value and $33 million in annual revenue.
ROUND ROCK, TEXAS — California-based Mark IV Capital has received an $86 million construction loan for Phase I of The District, a mixed-use project that will be located in the northern Austin suburb of Round Rock. The site is adjacent to the headquarters campus of Dell, and Phase I of The District will feature a 316-unit apartment complex that will be known as Origin at The District and that will include 23,042 square feet of ground-floor retail and restaurant space. Units will come in studio, one- and two-bedroom floor plans, and amenities will include a pool, fitness center, clubhouse lounge and outdoor entertainment spaces. Phase I will also include a 40,750-square-foot food-and-beverage plaza that will comprise six buildings with tenant spaces ranging in size from 1,500 to 11,750 square feet. Vertical construction of Origin is now underway, and completion of Phase I is slated for early 2028. George Smith Partners arranged the financing through BDT & MSD Partners and an affiliate of global private equity firm Apollo.
Marcus & Millichap Brokers Sale of 33,055 SF Mixed-Use Property in San Diego’s La Jolla Neighborhood
SAN DIEGO — Marcus & Millichap has arranged the sale of Prospect Square at La Jolla Village, a mixed-use property located in San Diego’s La Jolla submarket. 1025 Prospect LLC sold the asset to 1025 Associates LLC & Wedge 3.0 LLC for $10.3 million. Nick Totah of Marcus & Millichap represented the seller, while Ross Sanchez of Marcus & Millichap represented the buyers in the deal. Located at 1025 Prospect St., Prospect Square at La Jolla Village features 33,055 square feet of ground-floor and second-floor retail and restaurant space, third-floor office space and a three-story subterranean parking garage. Current tenants include Cody’s Restaurant, Beeside Balcony, The Agency, Arjang Fine Art, Blueprint Equity and Patient Partner. Originally built in 1984, the property was renovated in 2022 and 2024.
ALPHARETTA, GA. — New York Life Insurance Co. is underway on plans to redevelop North Point Mall in Alpharetta, a suburb roughly 30 miles north of Atlanta. Jamestown has been tapped by New York Life to pursue the redevelopment entitlements for the development. The Atlanta-based firm, which manages the nearby Avalon mixed-use development following its acquisition of the Atlanta-based holdings and listings of North American Properties in 2024, will also oversee property management for North Point Mall effective March 1. Plans for the project include transforming the mall into a sports-anchored, mixed-use entertainment district. The redevelopment will position the 100-acre property to potentially host a National Hockey League (NHL) franchise expansion into the Atlanta metro area. “We think this is a great location for an NHL team and, hopefully, our efforts will attract an owner who wants to acquire an expansion team and bring hockey back to Atlanta,” says Tim Perry, chief investment officer at Jamestown. “The site is well-positioned for redevelopment and to accommodate event and game day traffic associated with an NHL hockey arena.” Machete Group, a Houston-based advisory firm specializing in developing and operating sports venues, will partner with Jamestown to guide the redevelopment. “We’re looking forward to …
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