Property Type

Johnson & Johnson Breaks Ground on $2B Pharmaceutical Manufacturing Facility in Wilson, North Carolina, As Part of $55B Investment

by John Nelson March 24, 2025

WILSON, N.C. AND NEW BRUNSWICK, N.J. — Johnson & Johnson (NYSE: JNJ), has broken ground on a $2 billion pharmaceutical manufacturing facility in Wilson, about 50 miles east of Raleigh. The project is part of a larger, $55 billion investment in U.S. manufacturing, research-and-development (R&D) and technology initiatives that the global pharmaceutical, medical devices and consumer health products provider is planning over the next four years. “Today’s announcements accelerate our nearly 140-year legacy as an American innovation engine tackling the world’s toughest healthcare challenges,” says Joaquin Duato, chairman and CEO of Johnson & Johnson. “Our increased U.S. investment begins with the ground-breaking of a high-tech facility in North Carolina that will not only add U.S.-based jobs but manufacture cutting-edge medicines to treat patients in America and around the world.” The new manufacturing facility will span approximately 500,000 square feet and will create 5,000 construction jobs, as well as 500 specialized positions for employees and contractors, including process technicians, laboratory analysts, engineers and microbiologists. Upon completion, Johnson & Johnson plans to produce medicines for people with cancer, immune-mediated and neurological diseases at the Wilson plant. The company estimates that the facility will have an economic impact of $3 billion in North …

March 24, 2025

Alabama Market Reports Multifamily Southeast Southeast Market Reports

Limited Construction Starts Should Help Birmingham Absorb Available Apartments in 2025

by John Nelson March 24, 2025

Southeast Real Estate Business recently caught up with John McCrary, director of investment sales in Berkadia’s Birmingham office, to discuss trends in the local apartment market. McCrary, who specializes in investment sales in Alabama, east Tennessee and southern Mississippi, says that Birmingham’s occupancy will likely take a hit as new deliveries hit the market in the first half of the year, but there’s optimism that renters will be able to absorb those availabilities in short order. “With approximately 800 units expected to be delivered at the beginning of 2025, vacancy rates are likely to rise throughout the year,” says McCrary. “However, the slowdown in construction starts should help absorb existing units and eventually reduce the elevated vacancy rate.” The following is an edited interview: Southeast Real Estate Business: What major local or macro-economic trends are affecting the multifamily market in Birmingham? John McCrary: The interest rate environment is a key factor influencing multifamily dispositions, both in the Southeast and nationwide. Fluctuations in interest rates impact borrowing costs for developers and investors, thereby affecting the supply and demand for multifamily properties. Over the past year, Birmingham has seen strong multifamily demand, but it hasn’t kept pace with the influx of new …

March 24, 2025

Acquisitions Multifamily Texas

RangeWater, CenterSquare Buy 352-Unit Apartment Community in Frisco

by Taylor Williams March 21, 2025

FRISCO, TEXAS — A partnership between Atlanta-based RangeWater Real Estate and metro Philadelphia-based CenterSquare Investment Management has purchased Sorrel Phillips Creek Ranch, a 352-unit apartment community in Frisco. Built in 2015, the property offers one-, two- and three-bedroom units that range in size from 776 to 1,476 square feet. Amenities include a pool, clubhouse, bark park, media center and a fitness center. The new ownership plans to make capital improvements to unit interiors and building exteriors. The seller and sales price were not disclosed.

March 21, 2025

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Negotiates Sale of 7.6-Acre IOS Facility in North Houston

by Taylor Williams March 21, 2025

HOUSTON — Lee & Associates has negotiated the sale of a 7.6-acre IOS (industrial outdoor storage) facility in North Houston. The property at 15550 Export Plaza Drive, which was fully leased at the time of sale, functions as a cross-dock truck terminal. Trey Erwin, Josh Carl and Jason Dannatt of Lee & Associates represented the undisclosed seller in the transaction. The buyer was a fund backed by New York City-based Clarion Partners.

March 21, 2025

Affordable Housing Development Seniors Housing Southeast Virginia

True Ground Housing Breaks Ground on $64M Affordable Seniors Housing Community in Metro DC

by John Nelson March 21, 2025

CHANTILLY, VA. — True Ground Housing Partners has broken ground on a $64 million affordable seniors housing community in Chantilly, roughly 30 miles outside Washington, D.C. Dubbed Avonlea Senior, the development will be situated within the Avonlea Town Center master-planned community developed by Peterson Cos. The project team includes general contractor Bozzuto Construction, Advanced Project Management (APM), Grimm + Parker Architects, Moya Design Partners, Allen + Shariff Corp. and civil engineer Urban Ltd. Upon completion, the community will comprise 137 units for residents age 55 and older. The property will also feature a wellness suite, business center and two community rooms. Completion of the project is slated for summer 2026. Financing for the development includes low-income housing tax credits (LIHTC) from Virginia Housing; more than $6 million from Loudoun County’s affordable multifamily housing loan program; $7.5 million from Amazon REACH; $1.4 million in Virginia Housing Trust Fund financing; and $4 million from Virginia’s Housing Innovations in Energy Efficiency (HIEE) program. Additionally, Truist has purchased approximately $29 million in tax credit equity. Formerly Arlington Partnership for Affordable Housing, True Ground Housing Partners is a nonprofit affordable housing developer.

March 21, 2025

Leasing Activity Retail Texas

Whitestone REIT Welcomes Four New Tenants to Davenport Village in Northwest Austin

by Taylor Williams March 21, 2025

AUSTIN, TEXAS — Houston-based Whitestone REIT has welcomed four new tenants to Davenport Village, an open-air shopping center in northwest Austin. The tenants are Starbucks Reserve (3,274 square feet), exercise concepts Pvolve (3,126 square feet) and RVE Fitness (7,815 square feet) and flexible workspace provider CUBExec (undisclosed). The first three stores will open later this year, and CUBExec will open next spring.

March 21, 2025

Acquisitions Florida Retail Southeast

Principal Asset Management Sells 204,000 SF Pinewood Square Shopping Center in Lake Worth, Florida

by John Nelson March 21, 2025

LAKE WORTH, FLA. — Principal Asset Management has sold Pinewood Square Shopping Center, a 204,000-square-foot retail center in Lake Worth, roughly 35 miles north of Fort Lauderdale. Situated on the southeast corner of Lantana and Jog roads, the property was 99 percent leased at the time of sale to 42 tenants including T.J. Maxx/HomeGoods, Ross Dress For Less, Five Below, Goodwill and Delray Medical Center. There are also six additional outparcel buildings that are leased to Chase Bank, PNC Bank, AutoZone, Outback Steakhouse, La Granja and Jiffy Lube. Mark Gilbert, Adam Feinstein and Mitch Halpern of Cushman & Wakefield’s Miami office represented Principal Asset Management in the transaction. The buyer and sales price were not disclosed.

March 21, 2025

Development Florida Industrial Loans Southeast

CBRE Arranges $45M Construction Loan for Industrial Development in Fort Myers, Florida

by John Nelson March 21, 2025

FORT MEYERS, FLA. — CBRE has arranged a $45 million construction loan for the development of Oriole Logistics, a 442,000-square-foot industrial project in Fort Myers. Billy Mork, Joel Torborg and Mike Vannelli of CBRE Capital Markets’ Debt & Structured Finance team in Minneapolis secured the loan on behalf of the owner and developer, Capital Partners. Situated at 16815 Oriole Road, the property is near Southwest Florida International Airport, which in its second phase of a three-year, $1 billion terminal expansion. The Oriole Logistics project will comprise one 136,000-square-foot building and two buildings spanning 153,000 square feet each, according to the Business Observer. Upon completion, the three-building portfolio will feature 84 dock doors, 28 to 32-foot clear heights and a 580-space parking lot. Construction for the project is slated to break ground in April. Oriole Logistics marks the third industrial development for Capital Partners in South Florida since 2023.

March 21, 2025

Industrial Leasing Activity South Carolina Southeast

SkyREM Signs 129,600 SF Industrial Lease in Fort Lawn, South Carolina

by John Nelson March 21, 2025

FORT LAWN, S.C. — SkyREM has signed a 129,600-square-foot industrial lease at 2251 Catawba River Road in Fort Lawn, about 43 miles south of Charlotte via I-77. The tenant, a global advanced engineering and construction solutions firm, brings the 236,210-square-foot building to full occupancy. The facility offers warehouse and manufacturing space, access to major transportation networks and 77 acres of development-ready land. SkyREM has planned a multimillion-dollar capital improvement program to further modernize the property. Tommy Turner and Zack Daltorio of Newmark represented SkyREM in the lease transaction along with Clifford Blanquicet Jr. of Blanq Real Estate.

March 21, 2025

Industrial Leasing Activity Texas

Aircraft Custom Interiors Renews 19,237 SF Lease at Industrial Flex Building in Northwest Dallas

by Taylor Williams March 21, 2025

DALLAS — Aircraft Custom Interiors LLC has renewed its 19,237-square-foot lease at Quebec Business Center in Dallas. The industrial flex building is located on the city’s northwest side. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as GKI Industrial Dallas LLC, in the lease negotiations. Michael Haggar of JLL represented the tenant.

March 21, 2025

Newer Posts

Older Posts