Tuesday, August 26, 2025
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AcquisitionsGeorgiaMultifamilySoutheast

Tishman Speyer Acquires 502-Unit Apartment Community in North Atlanta Suburb

by John Nelson

SANDY SPRINGS, GA. — An affiliate of Tishman Speyer has acquired Avia at North Springs, an apartment community located in the northern Atlanta suburb of Sandy Springs. The property, which will be renamed Randolph Perimeter, totals 502 units across 22 buildings. The seller and sales price were not disclosed, but Atlanta Business Chronicle reports that Harbor Group International LLC sold the asset for $107.5 million. CBRE represented the seller in the transaction, and Jay Wagley of CBRE’s Dallas office arranged acquisition financing on behalf of the borrower. Constructed in two phases between 1989 and 1996, the community features apartments in studio, one-, two- and three-bedroom layouts. Amenities include a clubhouse, two swimming pools, tennis courts, a playground and walking trails throughout the 18.6-acre property. Tishman Speyer purchased the community through its TS Communities platform and plans to implement renovations to the units and amenities, including the addition of a fitness center, pickleball court, poolside lounges and an outdoor TV lounge with entertainment and gaming space.

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DevelopmentFloridaMixed-UseOfficeSoutheast

L&L, Oak Row Top Out 12-Story Office Tower at Wynwood Plaza in Miami

by John Nelson

MIAMI — L&L Holding Co. and Oak Row Equities, with project partner Shorenstein Properties and co-investor Claure Group, have completed the vertical construction of a 12-story office tower situated within The Wynwood Plaza, a 1 million-square-foot mixed-use campus underway in the Wynwood Arts District of Miami. Upon completion, the office development will total 266,000 square feet and will feature touchless entry and elevator systems, a dedicated parking garage, fitness club, bar lounge, conference and collaboration spaces and an expansive rooftop. Tenants will include Claure Group and law firm Weitz & Luxenberg, which will occupy 25,400 and 18,000 square feet, respectively. Located at 95 N.W. 29th St., the Wynwood Plaza is scheduled for completion in the first quarter of 2025 and will feature 509 residential units, as well as 32,000 square feet of shops, cafes and restaurants.

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DevelopmentIndustrialLoansSouth CarolinaSoutheast

Glenstar Secures $38.2M Construction Financing for Phase I of Industrial Park in Gaffney, South Carolina

by John Nelson

GAFFNEY, S.C. — Glenstar has secured $38.2 million in construction financing for the development of the first phase of an industrial park in Gaffney. CrossHarbor Capital Partners provided the financing. Upon completion, the property, which is being developed by Glenstar and capital partner Creek Lane Capital, will total 3.6 million square feet across five buildings. The first phase of the park, which has been dubbed Cherokee Commerce Center 85 (CCC-85), will comprise a 555,520-square-foot building expandable to 1.3 million square feet. The building, known as 2A, will feature 232 dock doors, four drive-in doors, 540 parking spaces and 452 trailer spaces. Completion is scheduled for fall 2024. Subsequent phases of CCC-85 will include four additional warehouses totaling 1.7 million; 252,270; 278,200; and 211,640 square feet, respectively. The project team includes general contractor The Conlan Co., architect Ware Malcomb and civil engineer SeamonWhiteside. John Montgomery, Garrett Scott, Brockton Hall and Dillon Swayngim of Colliers will manage leasing at the property on behalf of ownership.

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DevelopmentFloridaIndustrialSoutheast

BBX, PCCP to Develop 672,533 SF Logistics Campus in Delray Beach, Florida

by John Nelson

DELRAY BEACH, FLA. — BBX Logistics Properties and PCCP have formed a joint venture to develop BBX Park at Delray, a 672,533-square-foot logistics campus in Delray Beach. The joint venture has acquired 40 acres along U.S. Highway 441 for the project. Upon completion, the property will feature three buildings, with the first phase comprising a 200,000-square-foot building. Construction is scheduled to begin in the first quarter of 2024. BBX has contributed $2.9 million to the joint venture and plans to expend an additional $2.5 million in development costs.

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DevelopmentIndustrialNorth CarolinaSoutheast

Halstatt, Tectonic to Construct 614,220 SF Industrial Development in Salisbury, North Carolina

by John Nelson

SALISBURY, N.C. — Halstatt Real Estate Partners and Tectonic Real Estate will develop a two-building industrial property totaling 614,220 square feet in Salisbury. Upon completion, the campus will feature 60-foot speed bays in both buildings, as well as 505 parking spaces and 165 trailer spaces. A construction timeline was not disclosed.

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DevelopmentMultifamilyTexas

Joint Venture Breaks Ground on 444-Unit Apartment Community in Metro Austin

by Taylor Williams

PFLUGERVILLE, TEXAS — A joint venture between High Street Residential and a fund managed by CBRE Investment Management has begun construction on The Merle at Howard, a 444-unit apartment community that will be located in the northern Austin suburb of Pflugerville. The garden-style property, which represents Phase I of a larger development, will consist of 15 apartment buildings and five townhome buildings on a 17-acre site. Amenities will include a pool, fitness center, pet park, coworking space and a golf simulator lounge. Delivery is scheduled for fall 2025. Project partners include Meeks + Partners (architect), HR Green (civil engineer) and Provident General Contractors. The larger development will ultimately comprise about 1,400 units across 60 acres that will be constructed over three phases. As part of the project, the joint venture will also construct a six-acre public park with pickleball courts, basketball courts, playgrounds and walking trails.

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DevelopmentOfficeTexas

Mapletree Begins Renovation of 215,394 SF Office Building in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Mapletree, a global investment firm based in Singapore, has begun renovations on the 215,394-square-foot Building C at Galatyn Commons, an office campus located in the northeastern Dallas suburb of Richardson. The development consists of four buildings totaling 800,000 square feet. Upgrades at Building C will cover the lobby, fitness center, tenant lounge, collaboration spaces and elevator landings and will mark the completion of a larger value-add program. Galatyn Commons also features a food hall with 300-seat dining area, coffee shop, grab-and-go food service and an outdoor kitchen with grill stations, as well as an amphitheater with a 1,000-seat capacity, 150-seat conference center and multiple collaboration areas. Cushman & Wakefield has been tapped to lease the renovated space.

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DevelopmentMultifamilyTexas

Rosewood Property Begins Leasing 326-Unit Ludlow Apartments in Plano

by Taylor Williams

PLANO, TEXAS — Dallas-based Rosewood Property Co. has begun leasing The Ludlow, a 326-unit apartment community that is located within the Heritage Creekside master-planned development in Plano. Designed by Hensley, Lamkin, Rachel Inc., The Ludlow offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and designer backsplashes, as well as private balconies and workspaces. The amenity package comprises a pool, fitness center, coworking spaces, a clubroom and a golf simulator. Full completion is slated for the end of the year. Rents start at $2,150 per month for a one-bedroom apartment.

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IndustrialLeasing ActivityTexas

Newmark Negotiates 44,680 SF Industrial Lease Extension in Metro Austin

by Taylor Williams

ROUND ROCK, TEXAS — Newmark has negotiated a 44,680-square-foot industrial lease extension at Corridor Park I in Round Rock, a northern suburb of Austin. The tenant, Benchmark Electronics, is also expanding its footprint at Building 6 of the development. Sherry Gubera and Joshua LaFico of Newmark represented the tenant in the lease negotiations. JLL represented the landlord.

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Leasing ActivityOfficeTexas

Brunswick Group Signs 15,099 SF Office Lease in Uptown Dallas

by Taylor Williams

DALLAS — Global investment advisory firm Brunswick Group has signed a 15,099-square-foot office lease at 3811 Turtle Creek Blvd. in Uptown Dallas. The 21-story, 300,961-square-foot building features a newly renovated lobby and corridors as well as new contemporary spec suites. Amenities include a fitness center, tenant wine bar and game room, outdoor patio, conference center and onsite car wash/detailing services. Kim Brooks, Justin Miller and Scott Walker of Transwestern represented the landlord, California-based investment firm KBS, in the transaction. Jihane Boury of Savills represented Brunswick Group.

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