ROCKWALL, TEXAS — Los Angeles-based investment firm Westwood Financial has acquired Shops at Stone Creek, an 80,599-square-foot retail center located in the northeastern Dallas suburb of Rockwall. A 59,313-square-foot Tom Thumb grocery store anchors the center, which was fully leased at the time of sale. Other tenants include Care Now, Great Clips, Subway, Salad and Go, McDonald’s, HTeaO and The UPS Store. The seller and sales price were not disclosed.
MCKINNEY, TEXAS — Whole Foods Market has opened a 47,918-square-foot grocery store at 8701 W. University Drive in the northern Dallas suburb of McKinney. The store offers more than 600 local items that are sourced from more than 120 suppliers in Texas and neighboring states. The store also features full-service meat and seafood counters, a prepared foods section, wellness and beauty section and a selection of more than 500 wines and 250 beers.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 10,318-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 3227 Commander Drive was built in 1984 and totals 33,750 square feet. Stephen Williamson and Corbin Blount of Lee & Associates represented the tenant, IT services provider RLS Interests, in the lease negotiations. Michael Haggar of JLL represented the landlord.
NEW YORK CITY — A partnership between two local owner-operators, Foxy Development and Selfhelp Realty Group, has broken ground on The Perennial, a $150 million affordable housing project that will be located in the Forest Hills neighborhood of Queens. The project is a conversion of the former Parkway Hospital building, which has been shuttered since 2008. Of the 145 total units, 124 will be senior units, 44 residences within which will be reserved for formerly homeless individuals. The remaining apartments will be family units. All residences will be reserved for households earning 50 percent or less of the area median income. Project partners include architect Newman Design, Cityscape Engineering, Suffolk Construction and MEP engineer Mottola Rini. TD Bank provided construction financing for the project, and The Community Preservation Corp. will provide permanent financing. Construction is expected to be complete in late 2027.
APEX, N.C. — JLL Income Property Trust has acquired West Raleigh Distribution Center, a five-building, 985,000-square-foot industrial park located in the Raleigh suburb of Apex. The seller was not disclosed. Situated near I-540, West Raleigh Distribution Center was 87 percent leased at the time of sale to a mix of eight tenants, the largest of whom is a major distributor to the biotech and healthcare sectors. The buildings were constructed in 2024 and 2025.
FAIRHOPE, ALA. — Birmingham, Ala.-based Oakley Group has acquired Flats at East Bay in Fairhope for $49.8 million. Stoa Group was the seller. Craig Hey of Cushman & Wakefield arranged the sale. Oakley has appointed Arlington Properties to manage the 240-unit community, which is located at 9376 Twin Beech Road on the eastern shoreline of Mobile Bay, about 26 miles south of Mobile. Flats at East Bay was completed in 2024 and features 10 three-story buildings with one-, two- and three-bedroom units and amenities such as a resort-style pool with cabanas, a fitness center, dog park, walking trails, grills, coworking space with conference rooms, fire pit and electric vehicle charging stations.
HANOVER, MASS. — Houston-based owner-operator The Hanover Co. has sold a 297-unit apartment complex in Hanover, located southeast of Boston. Hanover Crossing Residences was built in 2023 and comprises four four-story buildings that house one-, two- and three-bedroom units with an average size of 934 square feet. Amenities include a pool, entertainment kitchen and social lounge, fitness center, coworking space and outdoor grilling and dining areas. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller in the transaction. The buyer was an affiliate of AEW Capital Management. The sales price was not disclosed.
CUMMING, GA. — Atlantic Residential has made progress on Phase I of the retail plaza at The Crossing at Coal Mountain, a 140-acre mixed-use development underway in Cumming, a northern suburb of Atlanta. The project sits in the Coal Mountain region of north Forsyth County and will feature apartments, retail space and for-sale homes being developed in partnership with Toll Brothers. Atlantic Residential broke ground in July on the 47,000 square feet of shops, restaurants and entertainment space at the development, with plans to complete construction in summer 2026. Food-and-beverage concepts at The Crossing at Coal Mountain will make up 60 percent of the retail offerings, while the remaining 40 percent will include soft goods and services such as spas, salons, fitness concepts and a 20,000-square-foot pad ideal for a small-format grocery or market anchor, as well as other service-based businesses. Atlantic Residential has selected Jennifer Steffen and Matt Maloney of JLL to handle the retail leasing assignment at the development. Construction progress to date includes framing of the project’s mixed-use building up to its fifth level, two of the multifamily buildings and installation of roads and infrastructure.
Columbia Residential Completes $35M Redevelopment of Affordable Seniors Housing Community in Atlanta
ATLANTA — Locally based Columbia Residential, in partnership with Atlanta Housing and other public and private stakeholders, has completed a $35 million redevelopment at Legacy at East Lake in Atlanta. Originally built in the 1970s, the newly reopened property features 149 studio and one-bedroom apartments across eight stories. Units are reserved for residents age 55 and older and households earning at or below 30, 50 and 60 percent of the area median income (AMI). Rents are capped at 30 percent of household income through project-based vouchers. Financing for the redevelopment included $12.4 million in equity from Truist Community Capital via 9 percent low-income housing tax credits (LIHTC) allocated by the Georgia Department of Community Affairs; a $10.5 million construction-to-permanent loan from Atlanta Housing; an $8 million construction loan and $5.6 million permanent mortgage from Truist Bank; $4 million in National Housing Trust Funds from the Georgia Department of Community Affairs; $1 million in housing opportunity bond financing from Invest Atlanta, the City of Atlanta’s economic development agency; a $1 million seller note from Atlanta Housing; and $400,000 in deferred developer fees by Columbia Residential. Dash & Dwell coordinated resident relocations during construction, and a partnership with Matter Health now provides …
CLERMONT, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.9 million loan for the refinancing of a 15,520-square-foot retail strip center located at 9350 U.S. 192 in Clermont, 26 miles southwest of Orlando. Tenants at the property include several restaurants, a healthcare office and a tattoo parlor. Garrett Fierstein of MMCC’s Orlando office secured the financing through a national credit union on behalf of the privately based borrower. The loan features a 10-year term with a 25-year amortization period and a 65 percent loan-to-value ratio.