SAN ANTONIO — Andover Properties has acquired Rail Drive Commerce Center, a 134,500-square-foot industrial flex building in northeast San Antonio. Completed in April and acquired by Andover in May, Rail Drive Commerce Center offers small-bay and flex spaces that are configured as move-in ready suites and feature 25-foot clear heights. Andover has tapped Cushman & Wakefield as the property’s leasing agent. The seller and sales price were not disclosed.
SHENANDOAH AND RICHMOND, TEXAS — Pinecroft Realty has refinanced two medical office buildings totaling approximately 70,000 square feet in metro Houston. The loan amount(s) was not disclosed. The buildings include the 57,000-square-foot Vision Park Medical Office Building in Shenandoah, located north of Houston, and the 13,000-square-foot Memorial Hermann Surgery Center of Richmond, located southwest of Houston. Noth Carolina-based Live Oak Bank provided the loan(s).
MCDONOUGH, GA. — Highline Warren, a distributor of cleaners and other fluids for the automotive and industrial sectors, has announced plans to invest $170 million in a new logistics hub in metro Atlanta. The Memphis-based company will build-out and occupy the former Zinus building, a 1.1 million-square-foot distribution center located at 830 Highway 42 S in McDonough. Highline Warren plans to begin operations at the facility by the end of the year and create 160 new jobs in the area. Civic partners involved in Highline Warren’s site selection include the Metro Atlanta Chamber, the City of McDonough, Georgia Department of Economic Development, the Henry County Development Authority and Georgia EMC. According to the company’s website, Highline Warren has more than 1,700 employees and operates 12 distribution centers and nine manufacturing plants.
JACKSONVILLE BEACH, FLA. — JLL has arranged a $76.8 million construction loan for a 415-unit multifamily development in Jacksonville Beach. Mark West led the JLL team in arranging the four-year, floating-rate loan through Ameris Bank on behalf of the borrower, Trevato Development Group. Located along Beach Boulevard, the community will feature a mix of one-, two- and three-bedroom apartments averaging 989 square feet in size, as well as 1,800 square feet of retail space. Amenities will include multiple courtyards, a pool complex with cabanas and a sun shelf, fitness centers, coworking spaces, outdoor summer kitchens, bocce ball courts, hammock islands and a dog park with a washing station. Trevato broke ground on the property on July 1 and plans to deliver the first units by fourth-quarter 2028.
ATHENS, GA. — CCI Real Estate has begun construction on 290 Lumpkin, a 353-bed student housing development located near the University of Georgia campus in Athens. The community is being developed in partnership with the Georgia Baptist Mission Board and will include ministry space for Baptist Collegiate Ministries. The development team for the project, which is scheduled for completion in summer 2027, includes New South Construction. The eight-story community will offer 243 fully furnished units in studio, one- and two-bedroom configurations. The property will also feature a Three Tree Coffee location on the ground floor and a 356-space parking deck. Shared amenities are set to include a fitness and wellness center; landscaped courtyards; study and lounge spaces; a rooftop deck with a living garden and pool; pickleball and basketball courts; and grilling stations. Preleasing for the property will begin this fall.
CHARLOTTE, N.C. — Trinity Capital Advisors and Town Lane have begun renovations on 440 South Church, a 15-story, 388,657-square-foot office building in Uptown Charlotte. Current tenants at the Class A property include Driven Brands and HDR Engineering. Updates to 440 South Church will include a redesigned lobby, new lounges, upgraded building systems and renovations to the street-level arrival points, amenities and common areas. Trinity Capital originally developed 440 South Church in 2009 and acquired the property last October in a joint venture with Town Lane. The design-build team for the renovation includes architectural firm Redline Design Group and general contractor Choate Construction. The team plans to finalize the renovation work by early second-quarter 2027.
NEW YORK CITY — San Francisco-based Airbnb has purchased 281 Park Avenue South, an office building in Midtown Manhattan, for $81.5 million, according to reports from multiple news outlets, including The Wall Street Journal (WSJ) and the New York Post. The landmarked, six-story building is known locally as Church Missions House. According to WSJ, which was first to report Airbnb as the buyer, the purchase comes “as the company continues to lobby local and state officials for loosening of the city’s strict restrictions on short-term rentals.” The Post reports that the 42,500-square-foot building will serve as “a dedicated hub for Airbnb’s New York workforce, which numbers more than 600 employees in the region.”
ROCKY RIVER, OHIO — JLL Capital Markets has arranged the $28.2 million sale of Westwood Town Center, a shopping center in Rocky River near Cleveland. Built in 1988, the property totals 226,155 square feet. Anchor tenants include Home Depot, which accounts for 30 percent of income and recently extended its lease, and Marc’s, a regional grocer that accounts for 25 percent of income. Additional tenants include AMC Theatres, which operates the only six-screen theater within a five-mile radius, Dollar Tree, FedEx and Third Federal Savings & Loan. The center is currently 95 percent occupied. Michael Nieder and Brian Page of JLL represented the seller, Zeisler Morgan Properties. The buyer was KPR Centers.
CHICAGO — Marcus & Millichap has brokered the sale of a 916-unit Public Storage property in Chicago. Completed in 2024, the self-storage facility consists of climate-controlled units totaling 72,899 rentable square feet. Jeffrey Herrmann and Sean Delaney of Marcus & Millichap represented the seller, an Illinois-based limited liability company. Delaney procured the buyer, a Texas-based limited liability company.
NORTHBROOK, ILL. — Nonprofit developer Housing Opportunity Development Corp. (HODC) has opened Poupard Place, a permanent supportive housing community in Northbrook. The 48-unit, four-story community at 1593 Shermer Road provides affordable housing for individuals and families living with disabilities. The development was made possible through a collaborative partnership among HODC, Illinois Housing Development Authority, Cook County, National Equity Fund, Federal Home Loan Bank of Chicago, Village Bank & Trust and many other public and private partners. The Village of Northbrook unanimously approved the project and donated the land. The project team included architect Cordogan, Clark & Associates and general contractor Skender.