Monday, February 9, 2026
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DevelopmentLoansMultifamilySoutheastTennessee

Albion Residential Secures Funding, Breaks Ground on 29-Story Apartment Tower in Nashville

by John Nelson

NASHVILLE, TENN. — Albion Residential has secured a construction loan for the first of two residential towers at Albion Music Row, the company’s previously announced multifamily development in Nashville. The Chicago-based developer and Clark Construction recently broke ground on the first tower, a 29-story high-rise comprising 458 units. Matthew Schoenfeldt, Mary Dooley and Brian Dawson led the JLL team that secured the undisclosed amount of financing for the first tower through Pacific Life Insurance Co. The first high-rise will include micro, studio, one-, two- and three-bedroom apartments, as well as 4,000 square feet of ground-level restaurant/brewery space. Amenities will include indoor and outdoor fitness studios, a rooftop pool and library, coworking space and a music lounge with a recording studio and podcast room. Albion Residential expects to deliver the first units in fall 2026. Upon completion, Albion Music Row will span two acres and comprise 850 apartments, as well as restaurants, shops and a public plaza on the ground level. The design-build team includes Chicago-based Hartshorne Plunkard Architecture and several Nashville-based companies: Barge Cauthen & Associates (civil engineer), Hodgson Douglas (landscape architect), SDL (structural engineer) and I.C. Thomasson (MEP engineer).

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AcquisitionsIndustrialSoutheastVirginia

JLL Arranges $85.4M Sale of Cold Storage Facility in Glen Allen, Virginia

by John Nelson

GLEN ALLEN, VA. — JLL has arranged the $85.4 million sale of Performance Food Group @ Cardinal North, a 328,335-square-foot cold storage facility in Glen Allen, a suburb of Richmond. Bill Prutting, Pete Pittroff, Craig Childs, Dave Andrews, Josh McArdle and Christopher Dale of JLL represented the seller, Scannell Properties, in the transaction. The team also secured the undisclosed buyer. Situated within one mile from I-95, the property was delivered last year and is fully leased to Richmond-based Performance Food Group. The facility includes 160,000 square feet of refrigerated space, a standalone vehicle maintenance and fueling facility, 32-foot clear heights, 52 dock-high doors and 138 trailer spaces. The 59.3-acre site offers room for two expansions that could potentially increase the square footage of the property by 40 percent, according to JLL.

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AcquisitionsIndustrialSoutheastVirginia

Terreno Realty Acquires Industrial Portfolio in Alexandria, Virginia for $84.3M

by John Nelson

ALEXANDRIA, VA. — Terreno Realty Corp. has purchased a four-building industrial portfolio located at 6584-6674 Fleet Drive in Alexandria for $84.3 million. Situated on 19.1 acres near the intersection of I-95/395 and I-495 (Capital Beltway), the portfolio spans 357,000 square feet across four separate distribution centers. The buildings were fully leased to 21 tenants at the time of sale, with all leases expiring by 2031. The property features 67 dock-high doors, 38 grade-level loading positions and parking for 580 vehicles. The seller was not disclosed.

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Leasing ActivityNorth CarolinaOfficeSoutheast

CP Group Executes 70,000 SF of Leases at Harris Corners Office Campus in North Charlotte

by John Nelson

CHARLOTTE, N.C. — CP Group has executed nearly 70,000 square feet of lease deals this year at Harris Corners, a three-building office campus situated off I-77 on the north end of Charlotte. Five new tenants are joining the office campus, including Alight Solutions (4,011 square feet); Southern National Roofing (9,676 square feet); Fidelity National Title Insurance Co. (2,602 square feet); Adams Outdoor Advertising (4,490 square feet); and Well Care Home Health (3,744 square feet). The lease deals also comprise three renewals, which include Sunstate Security (2,373 square feet); Dewberry (13,917 square feet); and Quint Events (28,278 square feet). Jennifer Kurz and Tim Arnold of Trinity Partners represented CP Group in all eight lease transactions. The Florida-based landlord has owned Harris Corners since summer 2021.

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AcquisitionsDevelopmentIndustrialNew JerseyNortheast

CBRE Arranges Sale of Industrial Development Site in Wharton, New Jersey

by Taylor Williams

WHARTON, N.J. — CBRE has arranged the sale of an industrial development site at 100 E. Dewey Ave. in the Northern New Jersey community of Wharton. Thomas Mallaney and Denise Kokulak of CBRE represented the buyer, a partnership between Commercial Realty Group and North Jersey Development Group, in the transaction. NAI Hanson represented the seller, Air Products and Chemicals Inc. The new ownership plans to construct a 95,000-square-foot building with a clear height of 28 feet, with construction beginning in the coming weeks.

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Leasing ActivityNew YorkNortheastOffice

Everest Group Signs 66,444 SF Office Lease at 1155 Avenue of the Americas in Manhattan

by Taylor Williams

NEW YORK CITY — Everest Group (NYSE: EG), a provider of property and specialty insurance products, has signed a 66,444-square-foot office lease at 1155 Avenue of the Americas in Midtown Manhattan. The lease term is 15 years, and the deal brings the 42-story building to 93 percent occupancy. Eric Deutsch and Jared Freede of CBRE represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban internally represented the landlord, The Durst Organization, which recently completed a $130 million renovation of the property.

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DevelopmentMultifamilyNew JerseyNortheast

Vida Capital Nears Completion of 44-Unit Multifamily Project in Bayonne, New Jersey

by Taylor Williams

BAYONNE, N.J. — Locally based developer Vida Capital is nearing completion of Prospect Crossing, a 44-unit multifamily project in the Northern New Jersey community of Bayonne. The five-story building houses studio, one- and two-bedroom units that range in size from 459 to 1,210 square feet and are furnished with stainless steel appliances, granite countertops and tile backsplashes. Amenities include a fitness center, lounge, clubrooms and coworking office space. Leasing will begin later this month.

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Leasing ActivityNortheastPennsylvaniaRestaurantRetail

Five Guys to Open 2,407 SF Restaurant in Center Valley, Pennsylvania

by Taylor Williams

CENTER VALLEY, PA. — Five Guys Burgers & Fries will open a 2,407-square-foot restaurant at Promenade Saucon Valley in Center Valley, an unincorporated area located about 50 miles north of Philadelphia. The center was formerly known as The Promenade Shops at Saucon Valley. Scheduled to open this fall, the restaurant will be situated between the stores of European Wax Center and uBreakiFix. Five Guys’ portfolio currently includes more than 1,700 restaurants globally.

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AcquisitionsIllinoisMidwestMultifamily

Wingspan Development Sells Sixteen30 Luxury Multifamily Property in Plainfield, Illinois

by Kristin Harlow

PLAINFIELD, ILL. — Wingspan Development Group has sold Sixteen30, a 284-unit luxury multifamily property in Plainfield, about 40 miles southwest of Chicago. Continental Properties was the buyer. The sales price was roughly $78 million, according to CoStar. Located at 14750 Wallin Drive and opened in August 2021, Sixteen30 features eight garden-style buildings surrounding a 7,500-square-foot clubhouse and pool. Designed by Eleni Interiors, the clubhouse features a great room, coffee bar, fitness center, yoga studio, coworking space, demonstration kitchen, pet spa and package room. Units range from 600 to 1,500 square feet. Sixteen30 was 95 percent occupied at the time of sale. The acquisition marks the 10th community in Illinois for Continental Properties.

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AcquisitionsMidwestMinnesotaMultifamily

CBRE Brokers Sale of 191-Unit Berkshire Central Apartment Complex in Blaine, Minnesota

by Kristin Harlow

BLAINE, MINN. — CBRE has brokered the sale of Berkshire Central, a 191-unit apartment complex in Blaine, a northern suburb of Minneapolis. The sales price was undisclosed. Built in 2017, the property features a range of studio, one- and two-bedroom units averaging 889 square feet. Amenities include a lounge, kitchen, garden, fitness center, yoga studio and pool. Keith Collins, Ted Abramson and Abe Appert of CBRE represented the seller, BMIRF Central LLC. Sentinel Management Co. was the buyer.

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