Saturday, February 7, 2026
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DevelopmentFloridaRetailSoutheast

Jacksonville City Council Approves $1.4B Renovation of EverBank Stadium, Home of NFL’s Jaguars

by John Nelson

JACKSONVILLE, FLA. — The Jacksonville City Council voted 14-1 Tuesday night to approve an agreement between the city and the NFL’s Jacksonville Jaguars for the $1.4 billion renovation of EverBank Stadium. ESPN reports that the agreement needs to be ratified by 24 of the 32 NFL owners, who will review the agreement when they convene in Atlanta in October for their annual meeting. If passed, the anticipated construction timeline of the renovation would begin at the conclusion of the Jaguars’ 2025 season and deliver before kickoff of the team’s 2028 season. The Jaguars, along with Jacksonville Mayor Donna Deegan and lead negotiator Mike Weinstein, presented the renovation agreement in mid-May. “This day has been a long time coming,” says Deegan. “I am truly grateful for the partnership with the Jaguars throughout the negotiation process, and to the City Council for passing this historic deal. Together, we are turning renderings into reality for the betterment of Jacksonville.” The Jaguars released conceptual designs for the renovated EverBank Stadium last summer. The team estimates that the economic impact of the project throughout the Jaguars’ 30-year lease will total $26 billion, with an estimated $2.4 billion in one-time economic impact during construction. The deal …

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Affordable HousingDevelopmentDistrict of ColumbiaMultifamilySoutheast

AHC, Hoffman & Associates Open 449-Unit Mixed-Income Apartments in Southwest DC

by John Nelson

WASHINGTON, D.C. — Affordable Homes & Communities (AHC) and Hoffman & Associates have opened The Westerly, a 449-unit apartment community in southwest Washington, D.C. The mixed-income property features apartments in studio, one- and two-bedroom layouts, including 136 units that are evenly split with income restrictions set at 30 and 50 percent of the area median income (AMI). The property is situated less than one block from the Waterfront Station Green Line Metro station and three blocks from The Wharf, a multibillion-dollar mixed-use development co-developed by Hoffman & Associates. Designed by Torti Gallas + Partners, The Westerly features a façade with cascading balconies and landscapes by Michael Vergason. The property also includes 20,000 square feet of amenities, including a rooftop pool deck, outdoor courtyard with a fire pit, entertainment lounges, fitness center, coworking and meeting spaces and a lobby lounge. The Westerly also houses 29,000 square feet of retail space leased to Good Company Doughnut Café, GoodVets and AppleTree Public Charter School. AHC and Hoffman funded the project using a market-rate equity investment with both 4 percent and 9 percent Low-Income Housing Tax Credits (LIHTC). Partners in the development included development partners CityPartners and Paramount Development; capital partners Grosvenor Americas, Merchants …

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AcquisitionsAlabamaRetailSoutheast

JLL Negotiates Sale of 432,158 SF Shopping Center in Spanish Fort, Alabama

by John Nelson

SPANISH FORT, ALA. — JLL has negotiated the $33.2 million sale of Eastern Shore Centre, a 432,158-square-foot power shopping center located at 30500 Highway 181 in Spanish Fort, a suburb of Mobile, Ala. Jim Hamilton, Brad Buchanan and Andrew Nichols of JLL represented the seller, Allied Development, in the transaction. Chip Sykes, Hunter Goldberg, Hamp Gibbs and Mikey Minihan, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, Wicker Park Capital Management. Situated on 42.7 acres and shadow-anchored by Dillard’s, Eastern Shore Centre’s tenant mix includes Belk, Shoe Station, Barnes & Noble, Stock & Trade, California Dreaming, Half Shell Oyster House and Mountain High Outfitters. Wicker Park, along with property manager affiliate Crawford Square Real Estate Advisors, has plans to continue to elevate the tenant profile and activate the place-making opportunities within Eastern Shore Centre.

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AcquisitionsOfficeSoutheastTennessee

Cushman & Wakefield | Commercial Brokers Sale of 100,943 SF Poplar Towers Office Building in Memphis

by John Nelson

MEMPHIS, TENN. — Cushman & Wakefield | Commercial Advisors has brokered the sale of Poplar Towers, a 100,943-square-foot office building located at 6263 Poplar Ave. in Memphis. Landon Williams and Katie Hargett of Cushman & Wakefield | Commercial represented the sellers, an entity doing business as Poplar Towers Office Center LLC and private investor Brett Kaye, in the transaction. Brian Califf of NAI Saig represented the buyer, Gregory Realty GP. The sales price was not disclosed. The Class B office building is situated in the East Memphis submarket. According to LoopNet Inc., Poplar Towers spans 11 stories, features 258 surface parking spots and was built in 1973.

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340-Nevins-St.-Brooklyn
DevelopmentLoansMultifamilyNew YorkNortheast

Affinius Capital, Kennedy Wilson Provide $160M Construction Loan for Brooklyn Multifamily Project

by Taylor Williams

NEW YORK CITY — Affinius Capital, which is a joint venture between San Antonio-based USAA Real Estate and New York-based Square Mile Capital Management, and global investment firm Kennedy Wilson have provided a $160 million construction loan for a multifamily project in Brooklyn. The site at 340 Nevins St. is located in the Gowanus neighborhood. The project will be a 22-story building that will house 320 units, 25 percent of which will be set aside as affordable housing, as well as 29,000 square feet of retail space. Units will come in studio, one-, two- and three-bedroom floor plans, and amenities will include a pool, fitness center, coworking spaces and indoor and outdoor lounges. Dustin Stolly and Jordan Roeschlaub of Newmark arranged the debt on behalf of the borrower, a partnership between Tavros Holdings and Charney Cos. Completion is slated for mid-2027.

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DevelopmentFloridaLoansSelf-StorageSoutheast

Eastern Union Arranges $10.1M Construction Financing for Self-Storage Development in Davenport, Florida

by John Nelson

DAVENPORT, FLA. — Eastern Union has arranged a $10.1 million loan for the ground-up construction of a self-storage facility in Davenport, roughly 65 miles east of Tampa. Marc Tropp of Eastern Union secured the four-year loan on behalf of the undisclosed borrower. The lender was also not disclosed. Upon completion, the development will comprise 690 units across five stories, with a gross square footage of 103,020 square feet and 76,431 square feet of rentable space. Malvern, Pa.-based CubeSmart will operate the facility.

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DevelopmentIndustrialLeasing ActivityNew JerseyNortheast

Seagis Completes Renovation of 202,490 SF Northern New Jersey Industrial Building, Signs New Tenant

by Taylor Williams

EAST RUTHERFORD, N.J. —Seagis Property Group has completed the renovation of a 202,490-square-foot industrial building located at 13 Manor Road in the Northern New Jersey community of East Rutherford. The metro Philadelphia-based development and investment firm has also signed an undisclosed tenant to a full-building lease at the property, which features a clear height of 22 feet, 16 docks and 84 car parking spaces. Seagis purchased the building, which previously functioned as a manufacturing facility, in 2006.

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Affordable HousingDevelopmentKansasLoansMidwestMultifamilyWalker & Dunlop

Walker & Dunlop Arranges $29.6M in LIHTC Equity for Affordable Housing Project in Lenexa, Kansas

by Kristin Harlow

LENEXA, KAN. — Walker & Dunlop Inc. has arranged $29.6 million in federal Low-Income Housing Tax Credit (LIHTC) equity for the financing of Canyon Creek East, an affordable housing project in Lenexa. The development will include 212 units across five buildings. Jennifer Erixon led the Walker & Dunlop team that arranged the LIHTC equity, which will finance approximately 40 percent of the total development costs, on behalf of MRE Capital. Canyon Creek East is part of the larger Cedar Canyon West development plan, which encompasses a mix of residential, commercial and recreational facilities. MRE’s development will provide units for households earning between 30 and 80 percent of the area median income.  

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Leasing ActivityNew YorkNortheastOffice

Cushman & Wakefield Negotiates 15,158 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has negotiated a 15,158-square-foot office lease in Midtown Manhattan. The tenant, deal-sourcing platform Grata Inc., will occupy the entire second floor at 1410 Broadway, which recently underwent a $20 million capital improvement program. David Hoffman and Sam Hoffman of Cushman & Wakefield represented Grata Inc. in the lease negotiations. Richard Doolittle, Michael Joseph, John Howard and Taylor Bell of Colliers represented the landlord, L.H. Charney Associates.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $5M Sale of Multifamily Property in Chicago’s Uptown Neighborhood

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sale of a 30-unit multifamily property in Chicago’s Uptown neighborhood for $5 million. Built in 1927 and renovated in 2014, the asset at 5051 N. Kenmore Ave. was fully leased at the time of sale. Joe Smazal of Interra represented the buyer, East Superior Real Estate Partners, and the seller, an East Coast-based investment company. The buyer assumed the property’s existing mortgage, which carries an interest rate below current market levels.

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