Sunday, December 7, 2025
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AcquisitionsIndianaIndustrialMidwest

Greenstone Partners Arranges $10.3M Sale of Indianapolis Industrial Property

by Kristin Harlow

INDIANAPOLIS — Greenstone Partners has arranged the $10.3 million sale of a multi-tenant, shallow bay industrial property totaling 120,886 square feet in Indianapolis. The building is located at 2402 Shadeland Ave. within the Warren Park submarket. Jason St. John of Greenstone represented the seller, a Chicago-based family office, and procured the buyer, a Florida-based real estate investment group. The transaction represents the second highest price per square foot for a multi-tenant industrial investment over 100,000 square feet in Indianapolis, according to CoStar. The property is home to seven tenants, and suite sizes average just over 17,000 square feet. Ownership has invested more than $1 million in capital improvements over the past four years. Major projects include a $726,000 full roof replacement backed by a 20-year warranty, as well as $133,000 in parking lot milling, repaving and restriping. Additional upgrades include HVAC repairs and replacements.

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Sprouts Farmers Market
DevelopmentRetailSoutheastTennessee

GBT Realty to Develop Sprouts Farmers Market at Port Royal Marketplace in Metro Nashville

by Abby Cox

SPRING HILL, TENN. — GBT Realty has submitted plans to develop a Sprouts Farmers Market grocery store to anchor Port Royal Marketplace, a planned retail center in Spring Hill, approximately 35 miles south of Nashville. Following city approvals, GBT anticipates construction to commence in early 2026, with completion planned for early 2027. Situated on the southwest corner of Duplex and Port Royal roads, Port Royal Marketplace is expected to total 46,000 square feet and will feature a 23,000-square-foot Sprouts and 16,000 square feet of inline shops, as well as a 6,800-square-foot shop building. In addition, three outparcels will front Duplex Road. A range of possible tenants could include medical services, restaurants, ice cream or coffee shops, apparel and fitness retailers.

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Leasing ActivityMidwestMinnesotaOffice

Regus to Open 30,000 SF Coworking Space at SPS Tower in Downtown Minneapolis

by Kristin Harlow

MINNEAPOLIS — Regus, part of International Workplace Group (IWG), will open a new 30,000-square-foot coworking space on the 21st and 22nd floors of SPS Tower in downtown Minneapolis. Patrick Braswell of Record Real Estate Partners and Teresa Borgen of Newmark represented Regus. The new facility will include private offices, meeting rooms, coworking and creative spaces. IWG operates five other locations in the Twin Cities. SPS Tower, a 655,070-square-foot office building, received 66,000 square feet of new and renewed leases in the third quarter. Three businesses signed new leases. Schechter Dokken Kanter, a Twin Cities-based CFO, accounting and tax firm, leased 14,000 square feet and is moving from Washington Square. Steve and Andrew Chirhart of Tatonka Real Estate represented the tenant. Emergent Software is moving into a 6,700-square-foot spec suite. Matt Elder and Amanda Frelita of Newmark represented the tenant. Heritage Wealth Advisors leased a 4,200-square-foot spec suite and is moving from 60 S. 6th St. Additionally, three existing tenants renewed their leases in the building. These include Skolnick, Bardwell and Johnson Law Firm (4,700 square feet), Ryan Garry Law Firm (3,100 square feet) and Stewart Title (4,200 square feet). Josh Johnson of CBRE represented Stewart Title. Owned by Sumitomo Corp., …

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industrial-portfolio-south-carolina
IndustrialLoansSouth CarolinaSoutheast

Patterson Real Estate Arranges Recapitalization of 400,000 SF Warehouse Portfolio in Coastal South Carolina

by Abby Cox

CHARLESTON AND BEAUFORT, S.C. — Patterson Real Estate Advisory Group has arranged the recapitalization of a 400,000-square-foot, six-property warehouse portfolio located in coastal South Carolina. The portfolio includes five properties in Charleston and one in Beaufort that were acquired by the borrower, RCB Development, between 2017 and 2023. In March, RCB Development recapitalized the portfolio’s equity with SilverCap Partners and completed the refinancing in November with a new senior loan provided by Ameris Bank. Patterson served as capital advisor to RCB for both transactions. All properties in the portfolio have undergone significant capital improvements, such as addressing deferred maintenance, upgrading landscaping, signage and building exteriors, as well as property-specific renovations. The portfolio was 99 percent leased at the time of the financing.

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GeorgiaLeasing ActivityOfficeSoutheast

Atlantic Cos. Inks Three Leases at 1075 Big Shanty Office Building in Kennesaw, Georgia Totaling 65,000 SF

by Abby Cox

KENNESAW, GA. — The Atlantic Cos. has announced that 1075 Big Shanty, a 72,633-square-foot office building in the northwest Atlanta suburb of Kennesaw, is now fully leased following three long-term lease executions totaling nearly 65,000 square feet. FEI Group, a national network of interior finishing contractors specializing in floors and cabinetry, has signed a new lease for 14,700 square feet. The Emory Clinic has also signed a new 19,840-square-foot lease at 1075 Big Shanty. Additionally, WSP, a global engineering and professional services firm, has renewed its 30,255-square-foot lease at the property. Michael Howell, Hunter Henritze and Maia Perri of Lincoln Property Co. represented the landlord in the lease negotiations. Situated near I-75 and Kennesaw State University, 1075 Big Shanty is a one-story office building that features a modern design, full-height glass, abundant natural light and outdoor seating.

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Affordable HousingConference CoverageFeaturesGeorgiaMultifamilySoutheastSoutheast Feature Archive

Multifamily Sellers Continue to Hold Out for Peak Pricing, Says InterFace Panel

by John Nelson

ATLANTA — For many multifamily professionals, 2025 is a year to forget. Paul Berry, president and chief operating officer of Mesa Capital Partners, said that U.S. multifamily investment sales are on track to close out the year at $125 billion, which represents a 25 percent decline from an average pre-COVID year and a little more than a third of 2021’s total (a torrid $354 billion). Andrew Zelman, senior vice president of Southeast investments at Boston-based GID Multifamily, said that owners are doing “everything they can to hold out for a profit.” Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. “As simplistic as this is, sellers will avoid transacting at less than peak values at any cost,” said Zelman, who added that owners are essentially kicking the can down the road by recapitalizing their assets or stopping and starting the marketing process if their pricing expectations aren’t being met. Zelman’s comments came during the opening panel on Tuesday, Dec. 2, at the 2025 InterFace Multifamily Southeast conference, which was held at the InterContinental Buckhead in Atlanta. Co-hosted …

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industrial-portfolio-cbre
AcquisitionsGeorgiaIndustrialKentuckyNew YorkNorth CarolinaPennsylvaniaTop StoriesVirginia

CBRE Arranges Sale of 3 MSF Industrial Portfolio Across Eight States for ACRE

by Abby Cox

NEW YORK CITY — CBRE has arranged the sale of a 20-property last-mile distribution and light-manufacturing industrial portfolio across eight states. New York City-based Ares Commercial Real Estate Corp. (NYSE: ACRE) acquired the portfolio, which spans more than 3 million square feet. Brian Fiumara led CBRE’s National Partners team in marketing the portfolio and representing the undisclosed seller in the transaction. The CBRE team also procured the buyer. The properties include: The industrial portfolio consists of well-maintained industrial buildings ranging in size from 16,000 to 500,000 square feet, while average occupancy across the properties currently sits at 95 percent. “The acquisition by Ares allows the company to expand its existing portfolio with a critical mass of light industrial and well-located last-mile assets in major population centers with access to key distribution infrastructure,” says Fiumara. ACRE is a real estate investment trust (REIT) managed by Ares Commercial Real Estate Management LLC, a subsidiary of Ares Management Corp., which manages approximately $596 billion of assets.   ACRE’s stock price closed on Thursday, Dec. 4 at $5.15 per share, down from $6.98 a year ago, a nearly 26 percent decline. — Abby Cox

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Data CentersIndustrialMarket ReportsSoutheastSoutheast Market ReportsVirginia

Richmond’s Industrial Market Is an Institutional Capital Darling

by John Nelson

The Richmond industrial market has been undergoing a dramatic transformation that reads like a case study in strategic positioning and timing. Over the past decade, this “regional market” has become a U.S. powerhouse, boasting all the ingredients to attract, maintain and organically grow supply-chain focused global occupiers and institutional capital investment. Richmond’s strategic advantages include its prime location on I-95 — equidistant to both metropolitan D.C. and the Port of Virginia — attractive labor demographics, disciplined development and strong demand from Fortune 100 occupiers. Additionally, the surging data center hyperscalers and their suppliers have further catalyzed growth in the market. The result? Richmond now features one of the lowest U.S. vacancy rates, sustained year-over-year rent growth, a feeding frenzy of institutional capital routinely producing 10 to 15 bids and lender quotes per property that have fundamentally reshaped who owns, develops and finances industrial real estate in the market. From regional player to national stage Over the past decade, Richmond experienced a 68 percent increase in institutional investors and lenders, growing from 47 participants in 2015 to nearly 80 unique institutions that have invested in and loaned on Richmond industrial assets, with 50 cents of every dollar invested in Richmond coming from …

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1-Riva-Row-The-Woodlands
DevelopmentMultifamilyTexas

Howard Hughes Corp. Completes 268-Unit Multifamily Project in The Woodlands, Texas

by Taylor Williams

THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHH) has completed 1 Riva Row, a 268-unit multifamily project located about 30 miles north of Houston in The Woodlands. The development features a 13-story tower and a four-story residential living building with two-story townhomes on the ground level, as well as traditional studio, one-, two- and three-bedroom floor plans. Amenities include a pool with cabanas, outdoor grilling and dining areas, a 24/7 fitness center, sports lounge and a rooftop terrace. Residents will also have access to roughly two miles of walking and jogging trails along The Woodlands Waterway. Construction began in September 2023.

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AcquisitionsHospitalityTexas

Hunter Hotel Advisors Arranges Sale of 100-Room Hotel in Bryan, Texas

by Taylor Williams

BRYAN, TEXAS — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 100-room Best Western Premier Bryan hotel in Central Texas. Built in 2009, the hotel offers 4,000 square feet of meeting and event space, an outdoor pool, fitness center and a business center. Kami Burnette of Hunter Hotel Advisors brokered the deal. The names of the buyer and the California-based seller were not disclosed. The new ownership plans to implement a value-add program.

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