Wednesday, June 25, 2025
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DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Seritage Growth Signs 17 New Tenants at Esplanade at Aventura in Metro Miami

by John Nelson

AVENTURA, FLA. — Seritage Growth Properties, a REIT created by Sears Holdings in 2015, has signed leases with 17 new tenants at Esplanade at Aventura, its 215,000-square-foot mixed-use development located in the northeastern Miami suburb of Aventura. Retail and restaurant concepts including The Salty Donut, If So, Chip City and The Shade Store recently opened at the property, while Tremble, Bank of America and Hästens will open this summer. Pura Vida Miami, Salt & Straw, Starbucks Coffee, Wairua Beauty and Next Health are expected to open this fall. Additional stores that will be arriving later in the year include 7th Avenue, Lola + The Boys, The Keys Co. and Anatomy Fitness. Lastly, Feulard Aesthetic Lab plans to open in spring 2026. The new tenants will occupy approximately 55,000 square feet at the development. Completed in 2023 and located adjacent to Aventura Mall, Esplanade at Aventura features more than 40 retail, dining and entertainment options, including Pinstripes and The LEGO Store. The project also includes healthcare tenants like One Medical and CCRM Fertility, as well as coworking operator Industrious.

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DevelopmentIndustrialKentuckySoutheast

CRG, STAG Industrial Break Ground on 500,240 SF Facility in Shepherdsville, Kentucky

by John Nelson

SHEPHERDSVILLE, KY. — CRG and STAG Industrial have broken ground on Park Loop @ I-65, a 500,240-square-foot speculative industrial facility located at 650 Park Loop Road in Shepherdsville. The project is situated on a 42.5-acre site one mile east of I-65 and 20 miles south of Louisville, Ky. Park Loop @ I-65 will feature 40-foot clear heights, 96 dock doors, four drive-in doors, 185-foot-deep truck courts, ESFR sprinklers, LED lighting, trailer storage and parking for 310 vehicles. CRG and STAG Industrial plan to deliver the facility in early 2026. The developers have tapped Alex Grove and Doug Butcher of CBRE to market and lease the project. The design-build team includes Clayco (CRG’s parent company) and Lamar Johnson Collaborative.

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DevelopmentFloridaLoansRetailSoutheast

Ocean Bank Provides $54M Construction Loan for Whole Foods-Anchored Retail Project in Miami Beach

by John Nelson

MIAMI BEACH, FLA. — Ocean Bank has provided a $54 million construction loan for a retail development in Miami Beach. The borrower, 1901 Alton Property LLC, an affiliate of veteran developer Russell Galbut and his daughter Marisa Galbut, is developing a commercial building that will house a 40,883-square-foot Whole Foods Market, 4,000-square-foot Wells Fargo bank branch and 271 parking spaces. Jorge Hernandez of Ocean Bank originated the financing on behalf of the borrower, which has been doing business with Ocean Bank for 35 years. Details of the loan and the development timeline were not released.

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AcquisitionsSouth CarolinaSoutheastStudent Housing

Core Spaces Acquires 486-Bed Student Housing Community Near University of South Carolina

by John Nelson

COLUMBIA, S.C. — Core Spaces has acquired The Nine at Columbia, a 486-bed student housing community located at 1400 Huger St., which is adjacent to the University of South Carolina campus. The property offers 141 units and townhomes in three- to five-bedroom configurations. Shared amenities include a resort-style pool, fitness center, outdoor fire pit, game area, dog park, clubhouse and private workspaces. The seller and terms of the transaction were not released. The Nine at Columbia was fully occupied at the time of sale.

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Affordable HousingDevelopmentGeorgiaMultifamilySoutheast

Partnership Opens Phase I, Begins Phase II of Affordable Housing Development in Decatur, Georgia

by John Nelson

DECATUR, GA. — A partnership between Decatur Housing and Preserving Affordable Housing Inc. (PAHI) has officially opened Phase I of Village at Legacy, an affordable housing development in the east Atlanta suburb of Decatur. The partnership also officially broke ground on Phase II. Leasing and move-in activity at Phase I of Village at Legacy is expected to begin in August, with construction on Phase II targeted for completion in spring 2026. Village at Legacy is situated on six acres within Legacy Park, a 77-acre site that once housed the United Methodist Children’s Home. The project represents the first ground-up affordable housing development in Decatur in decades. Phase I is a $27.9 million apartment community comprising 66 units, 40 of which Decatur Housing is supporting with project-based vouchers under its new Housing Assistance Payments (HAP) contract with HUD. The $21.5 million second phase will also comprise 66 units, 20 of which will have project-based vouchers. Decatur Housing was awarded Low Income Housing Tax Credits (LIHTC) by the Georgia Department of Community Affairs to support both phases of Village at Legacy. The City of Decatur and the Decatur Housing Authority are providing additional capital. Other capital partners include Hudson Housing Capital, Advantage …

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AcquisitionsRetailTexas

Partners Real Estate Brokers Sale of 43,060 SF Shopping Center in North Houston

by Taylor Williams

HOUSTON — Partners Real Estate has brokered the sale of Spring Park Village, a 43,060-square-foot shopping center in North Houston. According to LoopNet Inc., the center was built in 2015 and is home to tenants such as McAlister’s Deli, Adriatic Café, Spring Park Dentistry and J’s CBD + Vape Smoke Shop. Marc Peeler and Cobo Fajardo of Partners represented the buyer in the transaction. Additional terms of sale were not disclosed.

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DevelopmentHealthcareTexas

AP Construction Underway on 10,500 SF Healthcare Project in Marble Falls, Texas

by Taylor Williams

MARBLE FALLS, TEXAS — Adolfson & Peterson Construction is underway on a 10,500-square-foot healthcare project in the downtown area of Marble Falls, about 50 miles northwest of Austin. Designed by Seaux-Pierce Architecture, the two-building project is a build-to-suit for Heritage Oaks Dental Office and will include a 1,300-square-foot of oral surgery space. Completion is slated for the fall.

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DevelopmentLoansMultifamilyNew JerseyNortheastSeniors Housing

MRC, Pearlmark Provide $140M in Financing for Active Adult Project in Cherry Hill, New Jersey

by Taylor Williams

CHERRY HILL, N.J. — New York City-based Madison Realty Capital (MRC) and Chicago-based Pearlmark have provided $140 million in financing for the The Plaza Grande, a 507-unit active adult project located outside of Philadelphia in Cherry Hill. Units are reserved for renters age 55 and above. Amenities include an 18,500-square-foot clubhouse, golf simulator, indoor and outdoor pools, tennis and pickleball courts, a theater, sauna and massage rooms and lounge areas. The borrower, New Jersey-based Procida Funding & Advisors, will use the debt to complete construction and fund lease-up costs.

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105-Baker-Hollow-Road-Windsor-Connecticut
AcquisitionsConnecticutIndustrialNortheast

JLL Brokers $25.3M Sale of Warehouse in Windsor, Connecticut

by Taylor Williams

WINDSOR, CONN. — JLL has brokered the $25.3 million sale of a 165,625-square-foot warehouse in Windsor, located just outside of Hartford. The building at 105 Baker Hollow Road was completed in 2022 and features 32-foot clear height, 38 loading docks, one drive-in door and parking for 117 cars and 58 trailers. Michael Restivo, David Coffman and Tommy Hovey of JLL represented the seller, a joint venture between Condyne Capital Partners and an account managed by UBS Realty Investors, in the transaction. The buyer was Missouri-based NorthPoint Development.

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101-Station-Landing-Medford-Massachusetts
AcquisitionsMassachusettsNortheastOffice

Newmark Negotiates $11.7M Sale of Office Building in Medford, Massachusetts

by Taylor Williams

MEDFORD, MASS. — Newmark has negotiated the $11.7 million sale of 101 Station Landing, a 160,482-square-foot office building located north of downtown Boston in Medford. The five-story, transit-oriented building includes a café, outdoor plazas and garage parking. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, William Sleeper, Joseph Alvarado and Casey Valente of Newmark represented the seller, James Campbell Co., in the transaction. The team also procured the buyer, locally based investment firm RJK, which plans to implement capital improvements.

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