Property Type

KITA Begins $200M Redevelopment of Midtown Manhattan Office Building

by Taylor Williams July 27, 2026

NEW YORK CITY — The Korea International Trade Association (KITA) has begun the $200 million redevelopment of 460 Park Avenue, a 22-story office building at the thoroughfare’s intersection with East 57th Street in Midtown Manhattan. Upon completion, the building will offer 350,000 square feet of Class A office space. According to the development team, the building, which was originally constructed in the mid-20th century, is “being returned to its original steel structure and rebuilt with state-of-the-art infrastructure.” Within this framework, plans call for upgrades to the lobby, elevators, façade and utility systems. More specifically, the revamped lobby will feature hospitality-driven amenities that are “centered on activating terraces and outdoor space, creating a seamless connection to the outdoors for tenants.” The project will also introduce a formal amenity suite with conference and event spaces, as well as lounge, dining and wellness areas. The project team is also targeting certain designations — LEED Gold, WELL certification and WiredScore Platinum — for its utility systems and infrastructure. KITA has also tapped JLL to lease 460 Park Avenue upon completion of the redevelopment, which is scheduled for mid-2028. “We are reimagining 460 Park Avenue with a focus on quality, performance and experience, delivering a …

July 27, 2026

Market Reports North Carolina Restaurant Retail Southeast Southeast Market Reports

The Institutionalization of Charlotte’s Retail Sector

by John Nelson July 27, 2026

Years of nation-leading population growth, a robust job market and rising household incomes have propelled Charlotte retail onto the national stage as a major target for institutional and private investors alike. The market is now operating at a premium, with average asking rents surpassing the national average for the first time on record in late 2025 after rising more than 30 percent over the past five years, according to data from CoStar Group Inc. That milestone says a lot about how far the market has come, but it also points to where it is headed.The next phase of Charlotte retail will not be defined by growth alone. It will be defined by having the right tenant in the right format serving the right trade area. The strongest corridors continue to command attention from retailers and investors alike, while rising occupancy costs are forcing every deal to stand on stronger fundamentals. For owners, tenants and capital sources, that dynamic makes Charlotte one of the Southeast’s most compelling retail markets, but also one of its most nuanced. The new retail map Charlotte gained 20,731 residents between 2024 and 2025, ranking among the fastest-growing major cities in the country, according to the U.S. …

July 27, 2026

Acquisitions Industrial Texas

National Property Holdings Unveils Plans for 1.1 MSF Industrial Park in Katy, Texas

by Taylor Williams July 24, 2026

KATY, TEXAS — Regional developer National Property Holdings has unveiled plans for a roughly 1.1 million-square-foot industrial park in the western Houston suburb of Katy. Katy Prairie Business Park will be developed in two phases, each of which will comprise a single building that will be able to support manufacturing and logistics users. The Phase I building will total 402,480 square feet, and the Phase II building will total 680,940 square feet. Building features will include 36- and 40- foot clear heights, ESFR sprinkler systems, onsite trailer parking and “flexible” configurations. CBRE has been tapped as the leasing agent for Katy Prairie Business Park. A construction timeline was not announced.

July 24, 2026

Acquisitions Retail Texas

JLL Negotiates Sale of 441,620 SF Retail Power Center in Cedar Park, Texas

by Taylor Williams July 24, 2026

CEDAR PARK, TEXAS — JLL has negotiated the sale of 1890 Ranch, a 441,620-square-foot retail power center in Cedar Park, a northern suburb of Austin. The center was 99 percent leased at the time of sale to tenants such as Academy Sports + Outdoors, Ross Dress for Less, Burlington, PetSmart, Natural Grocers, Cinemark, Crunch Fitness, Office Depot and Dollar Tree. Barry Brown, Chris Gerard and Shea Petrick of JLL represented the seller, Austin-based Endeavor Real Estate Group, in the transaction. Chris Drew, Michael DiCosimo and Aaliyah St. Louis, also with JLL, arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, a joint venture between Sterling Organization and Cohen & Steers.

July 24, 2026

JACP-Center-Point-Business-Park-Aerial-22

Acquisitions Florida Industrial Southeast

Merritt Properties Acquires 11-Building Industrial Park in Jacksonville

by Abby Cox July 24, 2026

JACKSONVILLE, FLA. — Merritt Properties has acquired Center Point Business Park, an 11-building, 537,800-square-foot light industrial park located in Jacksonville’s Butler corridor near the Florida East Coast Railway. According to the Jacksonville Business Journal, Merritt Properties purchased the campus for $89.8 million. This latest office park acquisition marks Merritt’s first major transaction after receiving a $750 million investment led by Centerbridge Partners to boost its long-term growth strategy. Royce Rose and Justin Rabin of CBRE represented the seller, Plymouth REIT, in the transaction. Spencer Cummings and Cassidy Bergstrom led Gunster’s legal team in representing Merritt Properties. Situated at 4801-6631 Executive Park Court, Center Point Business Park was 99 percent leased at the time of sale to 35 tenants. The property features 18- to 22-foot clear heights, rear-load configurations, dock-high loading, concrete tilt-wall construction, 107 dock doors and 1,005 parking spaces. On average, tenant spaces are approximately 15,100 square feet. In addition to its existing portfolio, Merritt owns land at Imeson Landing Business Park and Oakleaf Commerce Center in Jacksonville, where future light industrial development is planned.

July 24, 2026

Development Office Texas

Gillett Commercial to Develop Spec Office, Flex Building in Allen, Texas

by Taylor Williams July 24, 2026

ALLEN, TEXAS — Local developer Gillett Commercial will build a speculative office and flex building in Allen, a northeastern suburb of Dallas. Known as Allen Place, the building is initially planned to be 89,032 square feet, comprising a 71,032-square-foot footprint plus an 18,000-square-foot mezzanine level that can be expanded by 20,000 square feet, offering up to 109,032 total square feet. Meinhardt & Associates is the project architect, and Raymond Construction will be the general contractor. Citadel Partners will market the space for lease. Gillett is developing the project, construction of which is set to start later this year and last about year, in partnership with the Allen Economic Development Corp.

July 24, 2026

Industrial Loans Texas

IPA Arranges $15.4M in Financing for Dallas Industrial Property

by Taylor Williams July 24, 2026

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $15.4 million in financing for a 60,159-square-foot industrial property in Dallas. The address was not disclosed, but the property is leased to PREP, an operator of shared commercial kitchen spaces. Frank Montalto and Ethan Splan of IPA arranged the five-year loan, which carried a 75 percent loan-to-value ratio, through an undisclosed local credit union. The borrower was also not disclosed.

July 24, 2026

Development Georgia Multifamily Southeast

Thompson Thrift to Begin Construction on 300-Unit Luxury Multifamily Community Near Savannah

by Abby Cox July 24, 2026

POOLER, GA. — Thompson Thrift plans to soon break ground on The Foundry at Mosaic, a 300-unit luxury multifamily community located in Pooler, a western suburb of Savannah. The development will be capitalized with equity from the Thompson Thrift 2025 Multifamily Development investment fund. Construction is expected to begin this month, with resident move-ins anticipated for November 2027. Situated within the Mosaic Town Center mixed-use development, The Foundry will feature a mix of one-, two- and three-bedroom apartments spanning up to 1,475 square feet in size. Amenities will include a resort-style swimming pool, 24/7 fitness center, courtyards, an outdoor entertainment kitchen, grilling areas, a pickleball court, dog park, resident conference room, billiards, shuffleboard, a golf simulator and a variety of indoor/outdoor gathering spaces. The Foundry at Mosaic marks Thompson Thrift’s second multifamily development near the Savannah Quarters master-planned community. In addition, the firm recently completed construction on The Liliana, a 360-unit luxury apartment community currently leasing nearby.

July 24, 2026

Development Industrial South Carolina Southeast

Chesterfield Breaks Ground on Industrial Development in Blythewood, South Carolina

by Abby Cox July 24, 2026

BLYTHEWOOD, S.C. — Chesterfield has broken ground on Carolina Pines International Commerce Center, a planned industrial development located about 18 miles north of Columbia. Carolina Pines International Commerce Center is designed for industrial, manufacturing and logistics use, specifically marketed to attract suppliers and operations supporting the nearby Scout Motors’ $2 billion Blythewood electric vehicle manufacturing facility. Building 1, which will total approximately 162,176 square feet, will include 32-foot clear heights, 35 dock doors, 49 trailer parking spaces, 107 car parking spaces, 7-inch concrete floor slabs and a 3,000-amp power supply. Building 1 is expected to be delivered in the first quarter of 2027. Building 2 is planned as a 212,420-square-foot speculative building. Further details of the project were not disclosed.

July 24, 2026

Development Mixed-Use Southeast Virginia

Monday Properties Receives Approval for Mixed-Use Development in Arlington, Virginia

by Abby Cox July 24, 2026

ARLINGTON, VA. — Monday Properties has received approval from the Arlington County Board for a major site plan amendment for the redevelopment two contiguous 12-story office buildings in Arlington’s Rosslyn district: 1401 Wilson Boulevard and 1400 Key Boulevard. The two office buildings, which were constructed in 1964, will be transformed into two 27-story multifamily towers dubbed The 1400s that will total 831 apartments, along with 28,959 square feet of ground-floor retail space anchored by a grocery store and a split-level parking garage. In addition, roughly 52 percent of the site will be allocated for publicly accessible open space. The project team includes Shalom Baranes Associates (architect of record), ParkerRodriguez (landscape architect) and VIKA Capitol (civil engineering and site design firm). A timeline for construction was not disclosed.

July 24, 2026

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