BUCKNER, MO. — Fun Town RV has secured its second Kansas City-area location at 29906 US 24 Highway in Buckner. The company is the official RV dealer of the Dallas Cowboys. Fun Town RV will occupy a 13,037-square-foot building comprising a 3,000-square-foot office and 10,037-square-foot warehouse. The lease marks the company’s 33rd location, joining properties in Texas, Illinois, Michigan, Oklahoma and Arkansas. Bill Maas of Block & Co. Inc. Realtors represented the seller of the Buckner property.
MIAMI — Miami-Dade County has approved the development of The HueHub, an $880 million mixed-use development in Miami’s West Little River district. Spanish-based developer Pablo Castro is teaming up with locally based Laura Tauber to lead the development. Situated on 12 acres at 8395 N.W. 27th Ave., The HueHub is slated to add more than 4,000 “attainably priced” apartments across seven 35-story towers. Residences will be fully furnished, with monthly rents starting at approximately $1,300 for a studio, $1,600 for a one-bedroom unit and $1,900 for two-bedroom units. The project will also feature nearly 200,000 square feet of interior amenities such as a learning center, communal areas, dedicated workspaces, laundry services and an urgent care facility, as well as a two-acre park. The design-build team includes Arquitectonica, Coastal Construction, Bilzin, Greenberg Traurig LLP and Franyie Engineers. The development team plans to break ground on The HueHub by the end of the year. According to multiple media outlets, the development is one of the largest to utilize Florida’s Live Local Act, which is legislation passed in 2023 to support the development of affordable and workforce housing.
OXFORD, MISS. — Development Ventures Group (Deven Group) and Kayne Anderson Real Estate have broken ground on a 755-bed student housing community located within a half-mile of the University of Mississippi’s (Ole Miss) campus. Situated on Anderson Road, the 243-unit property represents the first large-scale student housing project to be built within a mile of the Ole Miss campus since 2018. The design-build team includes BirdDog/Christa Development, Baker Barrios Architects and Montgomery Martin Contractors. BMO Bank is providing an undisclosed amount of construction financing. Set for completion in summer 2027, the unnamed community will span 370,000 square feet and offer one-, two-, three- and four-bedroom units. Amenities will include a resort-style pool with cabanas, jumbotron, beach volleyball court, pickleball court, indoor/outdoor fitness center, sauna, cold plunge, private study areas, sport simulator, a yoga/spin studio, food truck court and a 3,000-square-foot events venue.
NASHVILLE, TENN. — McShane Construction Co.’s Nashville office has begun construction on Declan Hermitage, a 315-unit apartment development located in Nashville ’s Hermitage neighborhood. Flournoy Development Group is developing the community, which will comprise six garden-style apartment buildings on a 15-acre site. Units at Declan Hermitage will be offered in one- to three-bedroom layouts. Designed by Dynamik Design, Declan Hermitage’s amenities will include a clubhouse, pool and sun deck, grill stations, fire pits, a dog park and a car wash. Flournoy and McShane expect to complete the community by June 2027. The duo are developing three other properties in the Southeast: Ellison Cool Springs in Franklin, Tenn., and District Eastside and District South in Greenville, S.C.
OVIEDO, FLA. — LRC Properties has purchased Central Florida Resource Center, a three-building shallow-bay industrial property located at 5700, 5707 and 5712 Dot Com Court in Oviedo, a suburb of Orlando. The New York-based buyer purchased the property from an undisclosed seller in partnership with an unnamed institutional investor. The sales price was also not released. Central Florida Resource Center was 80 percent leased at the time of sale. LRC Properties is planning to repair the roofs, demolish excess space and complete several other cosmetic upgrades at the property, including landscaping and signage. With this purchase, LRC Properties owns approximately 6.2 million square feet of commercial real estate in the Southeast, with assets under management approaching $550 million.
ATLANTA — Marcus & Millichap has brokered the sale of Central Park Apartments, a 280-unit community located at 2900 Camp Creek Parkway in southwest Atlanta. Built in 1969, Central Park sits on a 23-acre lot near Hartsfield-Jackson Atlanta International Airport in the city’s Camp Creek neighborhood. The property comprises 143 one-bedroom and 137 two-bedroom apartments. Scott Spalding of Marcus & Millichap’s Atlanta office represented the seller in the transaction. Marco Welch, also with Marcus & Millichap, procured the value-add buyer. Both parties requested anonymity. Marcus & Millichap’s Joe Mitchell helped facilitate the transaction.
HOFFMAN ESTATES, ILL. — Claire’s U.S., the operator of Claire’s and Icing stores across the United States, has filed for Chapter 11 bankruptcy protection in Delaware. The jewelry retailer listed both its liabilities and assets between $1 billion to $10 billion. Hoffman Estates-based Claire’s previously filed for Chapter 11 bankruptcy in 2018. Claire’s says that the proceedings will enable the company to immediately commence the monetization process for its assets to maximize value for the business. The retailer is continuing a comprehensive review of strategic alternatives, including discussions with potential partners that began prior to the filings. “This decision is difficult, but a necessary one. Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders,” says Chris Cramer, CEO of Claire’s. Claire’s retail stores in North America will remain open and continue to serve customers. However, in its bankruptcy filings the retailer noted 18 Claire’s and Icing stores that “should be exited” and is requesting the approval of store closing sales. These include: Claire’s U.S. intends to seek approval for a consensual use of cash collateral to …
— By Brett Meinzer of MMG Real Estate Advisors — Despite ongoing challenges, Phoenix’s multifamily market is showing signs of stabilization and strength in key areas. Record Demand, Even in a Cooling Market In first-quarter 2025, net absorption reached 5,149 units, more than double the 10-year quarterly average and the second-highest quarterly total on record. On a 12-month basis, the market absorbed 18,413 units, setting a new high. “We’re seeing demand return to peak levels,” said Brett Meinzer, advisor at MMG Real Estate. “The number of units leased in the last year shows Phoenix’s long-term story remains intact.” Supply Is Slowing, Signaling Potential Stabilization While new supply remains elevated, the pace is shifting. First-quarter deliveries declined 36 percent from the prior quarter, and the development pipeline is now nearly 50 percent below its recent peak. “After years of heavy deliveries, the pipeline is thinning,” Meinzer said. “This pullback could help stabilize rent and occupancy rates as we head into 2025.” Rent Trends Still Negative But Improving Phoenix’s effective rent currently stands at $1,560, down 2.3 percent year over year, with average occupancy at 91.9 percent. Rent softness is largely driven by concessions and intense lease-up competition from new construction. However, …
SOCORRO, TEXAS — A partnership between Trammell Crow Co. and Barings has broken ground on Speedway Logistics, an 804,283-square-foot industrial project in Socorro, a border city located just southeast of El Paso. The two-building development will sit on a 60-acre site and will be constructed on a speculative basis. The buildings will total 426,868 and 377,415 square feet and will both feature cross-dock configurations and 36-foot clear heights. Powers Brown Architecture designed Speedway Logistics, and Catamount Constructors is serving as the general contractor. CBRE is the leasing agent. Bank OZK is financing construction of the project, which is expected to be complete next summer.
SAN MARCOS, TEXAS — Southern California-based Thorofare Capital has provided $36 million in financing for a three-building, 343,728-square-foot industrial project in the Central Texas city of San Marcos. The loan carries a floating interest rate, and the project is expected to be complete in September. The Thorofare team behind the transaction included Scott Sumida, Andrew Kim, Paul Hachigian, Paul Kim and Jason Campbell. The names of the direct lender and borrower were not disclosed.