Sunday, May 18, 2025
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DevelopmentMultifamilySoutheastVirginia

Breeden Completes 198-Unit Multifamily Community in Norfolk, Virginia

by John Nelson

NORFOLK, VA. — The Breeden Co. has completed Lake Taylor Pointe Apartments, a 198-unit multifamily community located at 1060 Kempsville Road near Norfolk International Airport. Breedon Construction served as the general contractor for the $43 million development. The apartment complex features carriage house and garden-style buildings, with one to three-bedroom floorplans ranging in size from 723 square feet to 1,425, according to Apartments.com. Amenities at the complex include a resort-style swimming pool, poolside fitness center, outdoor gathering areas, arcade room, electric vehicle charging stations and a bark park. Rental rates for the property begin at $1,750.

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DevelopmentRetailTexas

Walmart to Open 200,000 SF Supercenter Store in Celina, Texas

by Taylor Williams

CELINA, TEXAS — Walmart will open an 200,000-square-foot store in the North Texas city of Celina that will be operated under the Arkansas-based retail giant’s Supercenter brand. The store will be located at the northwest corner of Preston Road and the West Outer Loop and will house a full-service grocery store and pharmacy, as well as electronics, apparel and home goods departments. Walmart is developing the store in partnership with the Celina Economic Development Corp. Construction is underway, and the opening is slated for next spring.

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AcquisitionsMixed-UseTexas

P4 Capital, Elevate Equity Buy 112,678 SF Mixed-Use Property in Dallas Design District

by Taylor Williams

DALLAS — A partnership between P4 Capital and Elevate Equity Partners has purchased a 112,678-square-foot mixed-use property in the Dallas Design District. The property, which comprises three sites totaling 4.4 acres at 1800 Irving Blvd., 1715 Market Center Blvd. and 1805 Market Center Blvd, was originally built to house industrial and office uses. The new ownership plans to redevelop the property into a retail, restaurant and entertainment destination. Jonathan Carrier of JLL represented the seller, a partnership between Quadrant Investment Partners and Maryland-based FCP, in the transaction.

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Affordable HousingDevelopmentFloridaLoansSeniors HousingSoutheast

Green Mills Breaks Ground on $26M Affordable Seniors Housing Community in Central Florida

by John Nelson

OSCEOLA COUNTY, FLA. — Green Mills Group has broken ground on a $26 million affordable seniors housing community in unincorporated Osceola County. Dubbed Poinciana Parc, the midrise property will comprise 86 units and amenities including a fitness center, business center, club/game room, laundry room and a swimming pool. The Florida Housing Finance Corp. awarded the project a 9 percent tax credit allocation in May 2023. Additional capital partners on Poinciana Parc include TD Bank, Raymond James Affordable Housing Investments and Neighborhood Lending Partners.

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IndustrialLeasing ActivityTexas

SportzBlitz Signs 27,000 SF Lease at Industrial Flex Building in Lewisville, Texas

by Taylor Williams

LEWISVILLE, TEXAS — SportzBlitz LLC has signed a 27,000-square-foot lease in the North Texas city of Lewisville. The provider of athletic media content is taking space at the industrial flex building located at 1000 Spinks Road, which according to LoopNet Inc. was completed last year. Adam Curran and Harrison Davis of Holt Lunsford Commercial represented the owner, Leila Real Estate LLC, in the lease negotiations. Tomas Wilson of Lee & Associates represented the tenant.

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AcquisitionsFloridaMultifamilySoutheast

Berkadia Arranges Sale of 268-Unit Apartment Community in Ocala, Florida

by John Nelson

OCALA, FLA. — Berkadia has arranged the sale of Retreat at 42nd, a 268-unit, pet-friendly apartment community located in Ocala, approximately 35 miles southeast of Gainesville. The community is situated on 13 acres and comprises 16 three-story apartment buildings housing 24 one-bedroom units, 156 two-bedroom units, 84 three-bedroom units and four three-bedroom duplexes.  Amenities at the property include a 7,500-square-foot clubhouse with a 24-hour fitness facility, business center, event space, TV lounge, walk-in swimming pool and sundeck, bark park and an outdoor ramada/grilling area, as well as a maintenance area and detached garages. Cole Whitaker, David Etchison and Mary Beale of Berkadia’s Central and North Florida offices represented the seller, an entity doing business as Retreat at 42nd LLC, in the transaction. The buyer, Old Lyme, Conn.-based Hamilton Point Investments, acquired the property for an undisclosed price. Jeremy Lynch of Berkadia’s Philadelphia office arranged an undisclosed amount of acquisition financing through Berkadia’s Proprietary Lending Group (PLG) on behalf of the buyer.

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AcquisitionsIndustrialMarylandSoutheast

Marcus & Millichap, Lee & Associates Broker $7.8M Sale of Industrial Property in Columbia, Maryland

by John Nelson

COLUMBIA, MD. — A partnership between Marcus & Millichap and Lee & Associates has brokered the $7.8 million sale of 6822 Oak Hall Lane, a 39,096-square-foot flex industrial property located in Columbia, roughly 20 miles southwest of Baltimore. Built in 1984, the facility was fully leased at the time of sale and offers a mix of office and warehouse space with 18-foot ceilings, as well as dock and drive-in loading. Bob Filley and Arvin Gholamrezae of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer, both private investors. Lee & Associates had fully leased the property and partnered with Marcus & Millichap in the sale.

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CivicDevelopmentIndustrialNew YorkNortheast

Partnership Completes $270M Cargo Handling Facility at JFK Airport in Queens

by Taylor Williams

NEW YORK CITY — A partnership between The Port Authority of New York and New Jersey, Worldwide Flight Services (WFS) and Annapolis-based transportation real estate investment and management firm Realterm has completed a $270 million consolidated cargo handling facility at John F. Kennedy International Airport in Queens. WFS, the airport’s main cargo handling agency, will operate the 350,000-square-foot facility, which spans 26 acres, replaces two older facilities and brings together operations from four separate cargo zones into a single modernized location. Realterm, which developed the facility via ground lease, specializes in owning and operating airport logistics facilities via a 17 million-square-foot portfolio of such assets across 37 airports. The project was first announced in summer 2021. The new cargo facility features several innovations designed to reduce wait times for truck drivers and minimize queuing outside the facility. These include an advanced truck dock management system that optimizes the flow of goods in and out of the facility, leveraging real-time scheduling, automated check-ins and digital communication between drivers and dock operators. The system automatically allocates the most efficient doors based on the size, type and contents of each delivery and also ensures that trucks arrive only when a dock is available, …

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AcquisitionsIndustrialNevadaWestern

Panattoni Buys Two Industrial Buildings in Southwest Las Vegas

by Amy Works

LAS VEGAS — Panattoni Development Co. has purchased two industrial buildings situated on 7.2 acres in southwest Las Vegas. Terms of the transaction were not disclosed. Located at 3300, 3564 and 3515 Birtcher Drive, Southwest Vegas Innovation Center consists of the 138,817-square-foot Building 1, which includes 83,127 square feet of warehouse space and 55,690 square feet of office space, and Building 2, a 9,100-square-foot industrial building with a fenced yard. The property is currently leased to Aristocrat Technologies Inc., a global, publicly traded gaming and tech company based in Las Vegas.

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The-Meadows-Lake-Forest-CA
Affordable HousingCaliforniaDevelopmentMultifamilySeniors HousingWestern

C&C Development, Riverside Charitable Corp. Open Affordable Seniors Housing Community in Lake Forest, California

by Amy Works

LAKE FOREST, CALIF. — C&C Development and Riverside Charitable Corp. have opened The Meadows Senior Apartments in Lake Forest, an affordable housing community for residents 62 years and older. Located within Toll Brothers’ Meadows master-planned community, The Meadows Senior Apartments offers 65 units designed for seniors earning 30 percent to 60 percent of the area median income (AMI). The two-story building offers units ranging in size from 600 square feet to 800 square feet, all of which are ADA-accessible and adaptable. The property offers community space with grassy areas, verandas and pickleball courts and a common amenity space with a kitchen, laundry room, leasing office, supportive services manager office and outdoor verandas with a barbecue pavilion. The property is also located adjacent to a community park and dog park. Residents will receive onsite supportive services from LifeSTEPS. Services will consist of educational classes and health-and-wellness programs. Financing for The Meadows consists of LIHTC (low-income housing tax credit) funding through the California Tax Credit Allocation Committee, California Debt Limit Committee and California Statewide Communities Development Authority. Bank of America also provided a construction and permanent loan. Additional financing was provided by the City of Lake Forest, The County of Orange, Calif., OC …

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