Friday, August 1, 2025
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FloridaLoansMultifamilySoutheast

JLL Arranges $115M Refinancing for Metro Edgewater Apartments in Miami

by John Nelson

MIAMI — JLL has arranged a $115 million loan for the refinancing of Metro Edgewater, a new 32-story apartment tower in Miami’s Edgewater neighborhood. Jesse Wright, Elliott Throne, Kenny Cutler, Joshua Odessky and J.J. Hovenden of JLL arranged the financing through MF1 Capital on behalf of the borrower, a consortium between Lujeni Corp., Camino Capital Management and Building Block Realty. MF1’s team working on the deal included Michael Squires, Phil Pesant and Connor Pensabene. The 279-unit property comprises one-, two- and three-bedroom units averaging 955 square feet in size. Amenities include a hotel-style pool with cabanas and day beds, fitness center, live-work club room, sky lounge, private dining room and a coffee bar.

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AcquisitionsFloridaSoutheastStudent Housing

Cushman & Wakefield Brokers $35M Sale of Student Housing Community Near University of Florida

by John Nelson

GAINESVILLE, FLA. — Cushman & Wakefield has brokered the $35 million sale of The Pavilion on 62nd, a 312-unit student housing community located at 1000 S.W. 62nd Blvd. in Gainesville. A joint venture between Coastline Management Group and an entity doing business as RWW Gainesville LLC purchased the property from an undisclosed Delaware limited liability company. Mike Donaldson, Nick Meoli, Travis Prince and Victoria Marks Vagnier of Cushman & Wakefield represented the seller in the transaction. Situated about three miles from the University of Florida campus, The Pavilion on 62nd offers a unit mix consisting of mostly large four-bedroom floorplans. The property also includes two large clubhouses, two swimming pools, an indoor and outdoor basketball court, volleyball courts, movie theater, study lounge, separate cardio and weight training fitness rooms, a dog park and a computer lounge.

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AcquisitionsIndustrialLeasing ActivityMississippiSoutheast

AIC Industrial Acquires 135,000 SF Manufacturing Facility in Metro Memphis in Sale-Leaseback Deal

by John Nelson

OLIVE BRANCH, MISS. — AIC Industrial has acquired a 135,000-square-foot light manufacturing facility located at 11085 Airport Road in Olive Branch, a Mississippi suburb of Memphis near the Olive Branch Airport. Natureplex Properties LLC, a pharmaceutical manufacturer, sold the facility to AIC Industrial in a sale-leaseback deal. Landon Williams and Katie Hargett of Cushman & Wakefield | Commercial Advisors represented the seller in the transaction. As part of the transaction, Austin, Texas-based AIC Industrial signed Natureplex to a long-term lease at the facility. The sales price and lease terms were not disclosed.

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DevelopmentFloridaLeasing ActivityMixed-UseMultifamilyRetailSoutheast

Newrock Signs Three New Retailers to Join Oaklyn Multifamily Development in South Florida

by John Nelson

OAKLAND PARK, FLA. — Newrock Partners has signed three new retailers to join the tenant mix at Oaklyn, a multifamily development underway in South Florida’s Broward County. The new tenants include fitness brand Pure Barre, fashion boutique Monkees and wellness spa Pause Studio. Pure Barre and Monkees plan to open on the ground level at Oaklyn in the first half of 2024, and Pause Studio plans to debut next summer. Situated at 3333 N. Federal Highway in Oakland Park, Oaklyn features 274 luxury apartments and more than 19,000 square feet of retail space. Newrock delivered the property in October.

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AcquisitionsAlabamaRetailSoutheast

SRS Negotiates $6M Portfolio Sale of Two Gas Stations in Alabama Leased to Circle-K

by John Nelson

MADISON AND HUNTSVILLE, ALA. — SRS Real Estate Partners has negotiated the $6 million portfolio sale of two newly developed gas station/convenience stores in Alabama. The assets are located at 8464 Madison Blvd. in Madison and 11010 Highway 231-431 N in Huntsville. Both properties span 5,200 square feet and have 15-year triple-net ground leases with Circle-K in place. Patrick Nutt and William Wamble of SRS represented the seller, a developer based in the Southeast, in the transaction. The California-based private buyer purchased the assets in a 1031 exchange. The unnamed investor purchased the fee-simple ownership of the land, which span about 2 acres for both locations, in both deals.

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2811-Kirby-Drive-Houston
DevelopmentMixed-UseTexas

Southern Land Co. to Develop Mixed-Use Project in Houston’s Upper Kirby Area

by Taylor Williams

HOUSTON — Nashville-based Southern Land Co. will develop a mixed-use project in Houston’s Upper Kirby area that will consist of a 330-unit apartment tower and an 83,322-square-foot office building. The 38-story multifamily building will house 312 apartments, 18 penthouses and amenities such as a pool, fitness center, spa and a rooftop garden. The office building will be situated over a podium-style garage, and tenants will have access to a fitness center and a private outdoor elevated park space. The project also includes 16,500 square feet of restaurant space. Construction is scheduled to begin next summer and to be complete in spring 2027. Stream Realty Partners is the leasing agent for the office space.

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Oncor-Midlothian
DevelopmentIndustrialTexas

KDC Breaks Ground on 422,000 SF Distribution Center for Oncor in Midlothian, Texas

by Taylor Williams

MIDLOTHIAN, TEXAS — Dallas-based developer KDC has broken ground on a 422,000-square-foot, build-to-suit distribution center for energy services provider Oncor in Midlothian, a southern suburb of Dallas. The site spans 60.7 acres, and the facility will feature a cross-dock configuration, 36-foot clear heights, interior offices, a break room and training rooms. Alliance Architects designed the project, and Peinado Construction is serving as the general contractor. Delivery is slated for next fall.

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IndustrialLeasing ActivityTexas

Newmark Negotiates 41,202 SF Industrial Lease in Flower Mound, Texas

by Taylor Williams

FLOWER MOUND, TEXAS — Newmark has negotiated a 41,202-square-foot industrial lease at Prologis Flower Mound 5, a 140,500-square-foot warehouse located in the northern-central part of the metroplex. Reggie Beavan, Chris Mason and Jack Brewer of Newmark represented the tenant, Dallas-based tool kit and test equipment provider Specialty Products Co., in the lease negotiations. The deal brings Prologis Flower Mound 5, which is one of six buildings within the larger development, to full occupancy.

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Pullman-Market-San-Antonio
Leasing ActivityRestaurantRetailTexas

Emmer & Rye Hospitality Group to Open 40,000 SF Food Hall at San Antonio’s Pearl District

by Taylor Williams

SAN ANTONIO — Texas-based restaurant operator Emmer & Rye Hospitality Group will open Pullman Market, a 40,000-square-foot food hall that will be located within San Antonio’s Pearl District. Set to debut next spring, the culinary destination will feature four full-service restaurants, fast-casual concepts, an artisan butcher and fishmonger program, various wine and beer selections, Texas-based produce and specialty foods, a seasonal bakery and a fresh pasta program. The four restaurants include Italian concept Fife & Farro, Mexican eatery Mezquite, fine-dining establishment Isidore and dessert bar Nicosi.

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HealthcareLeasing ActivityTexas

Four Healthcare Users Sign Leases Totaling 35,877 SF in San Antonio

by Taylor Williams

SAN ANTONIO — Four healthcare users have signed leases totaling 35,877 square feet at Sunset at Treeline, a 64,644-square-foot medical office building in San Antonio’s Alamo Heights area. The tenants include FCC MSO (12,646 square feet), Sports Medicine Associates of San Antonio (11,036 square feet), Katherine Cornforth, MD, OBGYN (6,135 square feet) and Northeast OB/GYN (6,060 square feet). Chad Gunter of Transwestern represented the landlord, Casey Development, in all of the lease negotiations.

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