Friday, June 5, 2026
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North Dekalb Mall
AcquisitionsGeorgiaRetailSoutheast

CBRE Arranges Sale of North Dekalb Mall in Atlanta, Buyer Plans Mixed-Use Redevelopment

by Julia Sanders

DECATUR, GA. — CBRE has arranged the sale of North Dekalb Mall in Decatur, about 8.6 miles east from downtown Atlanta. West Palm Beach, Fla.-based Sterling Organization sold the property for an undisclosed price. The buyer, Edens, who has a headquarters office in Washington, D.C., plans to redevelop the mall into a mixed-use property, according to The Atlanta Journal-Constitution. Located at 2050 Lawrenceville Highway, North Dekalb Mall is located on 76.7 acres at the intersection of Lawrenceville Highway and North Druid Hills Road. The property is situated less than 1.5 miles west of Interstate 285. The enclosed mall’s tenants include AMC Theatres, Dollar Tree, Burlington and Marshalls. AMC Theatres has a maximum of six years left on its lease term at the location.

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AcquisitionsMultifamilyStudent HousingTexas

Ascott Acquires 1,005-Bed Student Housing Community Near Texas Tech University for $70M

by Taylor Williams

LUBBOCK, TEXAS — Ascott Residence Trust, a REIT based in Singapore, has acquired Wildwood Lubbock, a 1,005-bed student housing community located about two miles from Texas Tech University. Ascott purchased the community, which offers two- to four-bedroom units with bed-to-bath parity, from an undisclosed seller for $70 million. Shared amenities include a resort-style pool with hot tubs, a swim-up bar, outdoor cabanas and grills and fire pits. In addition, residents of Wildwood Lubbock have access to a fitness center, study rooms, theater, dog park and basketball and volleyball courts.

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Turnpike Logistics Center
AcquisitionsFloridaIndustrialSoutheast

Dalfen Industrial Acquires Turnpike Logistics Center in West Palm Beach for $60.6M

by Julia Sanders

WEST PALM BEACH, FLA. — Dalfen Industrial has acquired Turnpike Logistics Center, a 317,499-square-foot logistics facility in West Palm Beach. The sales price was $60.6 million. John Huguenard, Luis Castillo, Cody Brais, Sky Groden of JLL Capital Markets represented the developer and seller, Jeff Greene. Completed in 2020, Turnpike Logistics Center is a two-building facility comprising a 124,479-square-foot building at 1673 Meathe Drive and a 193,000-square-foot building at 1715 Meathe Drive. The rear-load buildings have features such as 32-foot clear heights, concrete tilt-wall construction, deep column spacing, a total of 94 dock-high doors, two drive-in doors, ESFR fire protection and vehicle parking. Formerly known as Greene Space Industrial, Turnpike Logistics Center has direct on-ramp access to the Florida Turnpike and is located about 5.9 miles from Palm Beach International Airport. The property is also about 6.8 miles from downtown West Palm Beach.

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Park at Netherley
AcquisitionsAffordable HousingGeorgiaMultifamilySoutheast

Crown Bay Group Purchases Workforce Housing Community in Atlanta for $31.1M

by Julia Sanders

UNION CITY, GA. — Crown Bay Group LLC, an Atlanta-based multifamily real estate investment firm, has purchased The Park at Netherley, a 294-unit workforce housing community in Union City. The sales price was $31.1 million, or nearly $106,000 per unit. The seller was Blue Magma. Built in 1988, The Park at Netherley offers one-, two- and three-bedroom apartments. Community amenities include a business center, clubhouse, playground, swimming pool and a fitness center. The property was 93 percent occupied at the time of sale. Located at 6770 Buffington Road, The Park at Netherley is located about 13.4 miles from the Atlanta Metropolitan State College and 15.2 miles from Clayton State University. Additionally, the property is about 7.8 miles from Hartsfield-Jackson Atlanta International Airport. Since 2019, more than $1 million of capital improvements have been completed at the apartment complex in order to enhance curb appeal, upgrade interiors, improve exteriors and common area amenities. As the new owner, Crown Bay plans to launch an interior renovation program to enhance unit interiors. Crown Bay Management, the firm’s property management division, will manage the residential community.

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The-Townhomes-Houston
LoansMultifamilyTexas

Berkadia Arranges Acquisition Financing for 1,275-Unit Multifamily Portfolio in Houston

by Taylor Williams

HOUSTON — Berkadia has arranged an undisclosed amount of acquisition financing for a portfolio of five multifamily properties totaling 1,275 units in the Westwood and Braeswood/Fondren submarkets in southwest Houston. The properties — Airport Crossing, The Townhomes, Terrace at West Sam Houston, Casa Grande and Plaza at Hobby Airport — were all built between 1976 and 1983. Mitch Sinberg, Matthew Robbins and Abigail Beauchamp of Berkadia arranged the financing through Voya Investment Management on behalf of the borrower, New York-based July Residential. The debt was structured with a four-year term, a 75 percent loan-to-value ratio and provisions for funding capital expenditures.

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Data CentersDevelopmentIllinoisIndustrialMidwest

Prime Data Centers to Invest up to $1B to Develop Industrial Campus in Metro Chicago

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Prime Data Centers has unveiled plans to build a 750,000-square-foot data center campus in the Chicago suburb of Elk Grove Village. The three-facility project will be one of the largest data center campuses in the O’Hare market, according to the company. Prime Data Centers plans to invest up to $1 billion for the project. A timeline for completion was not provided.

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West Market
AcquisitionsNorth CarolinaRetailSoutheast

Marcus & Millichap Brokers Sale of 152,030 SF Shopping Center in Greensboro, North Carolina

by Julia Sanders

GREENSBORO, N.C. — Marcus & Millichap has brokered the sale of West Market Shopping Center, a 152,030-square-foot, Food Lion-anchored retail property in Greensboro. The property sold for $9.1 million. David Gant and Lori Schneider of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Built in 1963, West Market Shopping Center is located at 4637-4653 W. Market St. The property’s tenant roster includes Cato, Strength & Body and Reconsidered Goods.

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AcquisitionsIndustrialMidwestMinnesota

Colliers Arranges Sale of 1.9 MSF Industrial Portfolio in Metro Minneapolis

by Kristin Harlow

MINNEAPOLIS — Colliers International has arranged the sale of a 22-building industrial portfolio spanning 1.9 million square feet in metro Minneapolis. The sales price was undisclosed. Half of the portfolio features a high office finish and is located in the southwest submarket of Minneapolis, while the other half is comprised of warehouse and distribution product. Mark Kolsrud, John McCarthy, Peter Carbonneau, Peter Loehrer, Kyle Delarosby and Lydia Paasch of Colliers represented the seller, a national industrial owner. The team also procured the buyer, Nicola Wealth Real Estate Acquisitions LTD. Mike Taylor, Brian Bonipart and Pat Taylor of Gantry secured a $130 million loan on behalf of the buyer. A life insurance company provided the seven-year loan, which featured a sub-3 percent rate and a 30-year amortization schedule.

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DevelopmentIndustrialMidwestOhio

CRG Breaks Ground on 1 MSF Spec Distribution Facility in Etna, Ohio

by Kristin Harlow

ETNA, OHIO — CRG and its capital partner Lexington Realty Trust have broken ground on Building E at The Cubes at Etna 70 in Etna, about 20 miles east of Columbus. The more than 1 million-square-foot speculative distribution facility will be located at 9800 Schuster Way. Completion is slated for spring 2022. The building will feature a clear height of 40 feet and 108 dock positions. Contegra Construction is the general contractor and Lamar Johnson Collaborative, a subsidiary of CRG’s parent company, Clayco, is the architect. Jeff Lyons of CBRE will market the project for lease. This is the second development at The Cubes at Etna 70, which encompasses 289 acres of former farmland that CRG and Lexington purchased in 2018. CRG completed development of a 1.2 million-square-foot build-to-suit for Kohl’s in 2020. Four sites remain available for development. All told, the site can accommodate up to 2 million square feet of additional construction.

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AcquisitionsIllinoisMidwestMultifamily

Albion Residential Purchases 719-Unit Apartment Community in Suburban Chicago, Plans $23M Revitalization

by Kristin Harlow

PALATINE, ILL. — Albion Residential has purchased Birchwood on Sterling, a 719-unit apartment community in Palatine, a northwest suburb of Chicago. Matt Schoenfeldt of JLL Capital Markets arranged a $94.2 million loan on behalf of Albion through Voya Investment Management. Pete Evans of Berkadia Chicago and Richard Evans of Berkadia Milwaukee, along with support from local Berkadia colleagues, represented the undisclosed seller. Albion plans to undertake a $23 million renovation project, completion of which is slated for early 2024. All units that have not been recently updated will be modernized. Additional plans call for an expanded and updated club room, a newly built fitness center, renovation of the pool and the addition of fire pits, bocce ball and dog runs. Birchwood on Sterling was originally built in the 1970s.

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