Wednesday, April 22, 2026
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DevelopmentIndustrialSoutheastTennesseeTop Stories

Hamilton Development Breaks Ground on 2.1 MSF Spec Industrial Park in Clarksville, Tennessee

by Kristin Harlow

CLARKSVILLE, TENN. — Hamilton Development has broken ground on NorthPark Logistics, a 2.1 million-square-foot industrial park in Clarksville, a city in northern Tennessee. The project marks the first Class A speculative industrial park in Clarksville, according to the Nashville-based developer. The 200-acre site at 4175 Guthrie Highway will feature 14 buildings at full build-out. Located within 50 miles of Nashville, the NorthPark Logistics site is directly served by R.J. Corman rail, offers immediate access to I-24, is within an hour’s drive from both Clarksville Regional Airport and Nashville International Airport and is adjacent to the $3.2 billion LG Chem plant. In addition to LG Electronics, Clarksville is home to industrial tenants such as Hankook Tire, Google, Bridgestone and Amazon. “As industrial employers continue to invest billions of dollars in the area, we believe there will be increasing demand for institutional-quality industrial space,” says Whitfield Hamilton, CEO of Hamilton Development. NorthPark Logistics will feature opportunities for flexible build-to-suit or speculative space, with the ability to accommodate tenants ranging from 18,200 to 1.2 million square feet. Hamilton Development has begun construction on the first phase of the development, which encompasses four buildings totaling nearly 550,000 square feet. Building 1, a 206,752-square-foot property, …

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Company NewsGeorgiaMixed-UseMultifamilySoutheast

Hunt Cos. Acquires Majority Interest in Carter

by John Nelson

EL PASO, TEXAS AND ATLANTA — Hunts Cos. Inc. has acquired a controlling interest in Carter, a mixed-use and residential real estate investment and development firm based in Atlanta. The El Paso-based firm is acquiring the majority stake in Carter and buying out longtime CEO and chairman Bob Peterson, who has subsequently announced his retirement. Current CEO and president Scott Taylor will continue to oversee the day-to-day operations at Carter post-acquisition. Terms of the transaction were not released. The partnership aims to grow Carter’s banking relationships, expand the company’s mixed-use development platform and secure additional investment opportunities in key markets. Hunt Cos. and Carter have previously collaborated on Prospect Lake Wire, a 22-acre mixed-use development underway in Lakeland, Fla., and for The DeSOTA, a luxury apartment development in Sarasota, Fla.

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AcquisitionsFloridaIndustrialSoutheast

Phoenix Investors Purchases 628,000 SF Industrial Facility in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — An affiliate of Milwaukee-based Phoenix Investors has purchased a 628,000-square-foot industrial facility located at 2121 Huron St. in Jacksonville. The property was previously home to Anchor Glass Container Corp. The seller and sales price were not disclosed. The property features 26 dock doors and clear heights up to 32 feet. Phoenix plans to renovate the facility with a new roof, fire suppression enhancements, exterior and interior paint, new dock equipment and site work improvements. The Jacksonville facility represents the ninth former glass factory that Phoenix Investors has acquired with plans to update for modern industrial use, according to Anthony Crivello, executive vice president and managing director at Phoenix. The construction timeline for the redevelopment was not announced.

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DevelopmentMarylandMultifamilySeniors HousingSoutheast

Greystar to Develop 175-Unit Active Adult Project at Annapolis Town Center in Maryland

by John Nelson

ANNAPOLIS, MD. — Greystar has announced plans to develop a new active adult project in Annapolis. Upon completion, the unnamed community will total 175 units, with a mix of one-, two- and three-bedroom residences. Amenities at the five-story development will include a library, club room, kitchen, fitness studio, pet spa, swimming pool and an exterior courtyard. Greystar recently acquired a 2.2-acre development site within Annapolis Town Center for the project. Construction is currently underway, and leasing is scheduled to begin in spring 2026. Annapolis Town Center features more than 50 retail stores and restaurants. The new community’s location will provide access to more than 557,000 square feet of retail, as well as connectivity to Washington, D.C., downtown Baltimore and Bethesda, Md.

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DevelopmentMultifamilyOfficeSoutheastVirginia

Penzance Receives Approval for Office-to-Residential Conversion Project in Northern Virginia

by John Nelson

ARLINGTON, VA. — Penzance has received approval from Arlington County for the proposed redevelopment of Ballston One, an office building located at 4601 N. Fairfax Drive in Arlington’s Ballston neighborhood. The approved plan will convert the existing seven-story office building into a new residential community totaling 328 multifamily units comprising studio, one- and two-bedroom apartments, as well as 13 two-story loft homes. The project will include the adaptive reuse of Ballston One’s underground parking garage. Penzance is targeting LEED Gold certification for the redevelopment, which will include new bird-friendly glass, dark-sky compliant lighting and a green roof, as well as 130 bicycle parking spaces and 65 electric vehicle-ready parking spaces. Planned amenities will include a landscaped courtyard with a pool, outdoor kitchen and lounge areas, as well as a rooftop terrace with grills and social spaces. Indoor amenities will include a fitness center, yoga studio, golf simulator, coworking lounge, makerspace, club room, playroom and 24/7 concierge service. As part of the agreement with Arlington County, Penzance is contributing approximately $3.2 million toward the county’s affordable housing program.

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AcquisitionsRetailSoutheastTennessee

Cushman & Wakefield Commercial Brokers Sale of 12,000 SF Retail Center Near Memphis

by John Nelson

GERMANTOWN, TENN. — Cushman & Wakefield Commercial Advisors has arranged the sale of Germantown Station, a 12,000-square-foot retail center located at 1217-1227 S. Germantown Road. Built in 2002, the property is situated on 1.3 acres and was fully leased to tenants including State Farm, Simmons Bank, Alliance Animal Health, Breakaway Running, A&A Nail Spa and Las Tortugas Deli Mexicana at the time of sale. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial represented the seller, an entity doing business as Germantown Station LLC, in the transaction. The buyer was Ranjit Komeravelli.

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Kennedy-Greens-Distribution-Center
AcquisitionsIndustrialTexas

CapRock Partners Buys 524,199 SF Distribution Center in North Houston

by Taylor Williams

HOUSTON — California-based investment firm CapRock Partners has purchased a 524,199-square-foot distribution building in North Houston. Built on 29 acres in 2020, Kennedy Greens Distribution Center is a cross-dock facility that features 36-foot clear heights, 185-foot truck court depths, 103 dock-high doors, four grade-level doors, an ESFR sprinkler system and parking for 128 trailers and 276 cars. The property was fully leased at the time of sale. Cushman & Wakefield represented the undisclosed seller in the transaction.

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AcquisitionsRetailTexas

NewQuest Arranges Sale of 82,073 SF Ella Plaza Shopping Center in North Houston

by Taylor Williams

HOUSTON — Locally based brokerage and investment firm NewQuest has arranged the sale of Ella Plaza, an 82,073-square-foot shopping center in North Houston. Anchored by Advance Auto Parts’ 15,371-square-foot space, the three-building center was constructed on 7.1 acres in 2003 and is also home to multiple government tenants. Dakota Workman of NewQuest represented the seller, an entity doing business as True Saga LLC, in the transaction. Northmarq represented the buyer, Sega Development LLC.

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AcquisitionsIndustrialTexas

Alterra Acquires Industrial Outdoor Storage Facility in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Philadelphia-based investment firm Alterra IOS has acquired an industrial outdoor storage facility located at 25 miles southwest of Houston at 15646 Ennis Road in Sugar Land. The facility features a 30,000-square-foot warehouse and was fully leased at the time of sale of a national building materials distributor. Alex Harrold of Matthews Real Estate Investment Services represented Alterra in the transaction. The seller and sales price were not disclosed.

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Leasing ActivityOfficeTexas

Wounded Warrior Project Signs 18,559 SF Office Lease in San Antonio

by Taylor Williams

SAN ANTONIO — Nonprofit organization Wounded Warrior Project has signed an 18,559-square-foot office lease in San Antonio. The space is located within Building 3 at University Heights Tech Center on the city’s northwest side and will be able to support about 70 employees. Brian Kates of JLL represented Wounded Warrior Project in the lease negotiations. Rob Gish represented the landlord, locally based owner-operator Worth & Associates, on an internal basis.

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