Property Type

Rising Demand for Speed, Efficiency Drives Growth in Logistics Automation

by Taylor Williams April 3, 2025

By Justin Spafford, construction executive at Caddell Construction In today’s fast-paced e-commerce landscape, consumer expectations for rapid, accurate delivery are reshaping supply chains. To stay competitive, retailers and logistics providers must embrace automation to enhance efficiency and meet growing demand. This transformation is happening amid broader shifts within the commercial real estate industry, including reshoring and increased reliance on automation tech. Rather than investing in costly new construction, many companies are opting to retrofit existing facilities with modern automation. This approach maximizes value and allows businesses to adapt quickly to market shifts without significant downtime. Caddell Construction has played a role in this transformation, having completed over 25 automation projects nationwide. Our current work includes nine automation projects across the United States, with another five in preconstruction and scheduled to start in the second quarter. The numbers highlight the urgency of this shift. U.S. retail e-commerce sales for 2024 are projected to reach $1.37 trillion, representing a more than 10 percent increase from the previous year, according to CapitalOne. Meanwhile, the warehouse automation market, currently valued at $19.2 billion, is expected to grow to $22.8 billion by 2030. The broader industrial automation sector is also expanding rapidly, with projections increasing …

April 3, 2025

Duke Health Acquires Lake Norman Regional Medical Center in Metro Charlotte for $284M

by John Nelson April 3, 2025

MOORESVILLE, N.C. — Duke University Health System (Duke Health), a Durham, N.C.-based healthcare affiliate of Duke University, has acquired Lake Norman Regional Medical Center, an acute-care hospital in the Charlotte suburb of Mooresville, for $284 million. Formerly owned by subsidiaries of Tennessee-based Community Health Systems Inc., the 123-bed facility will now operate as Duke Health Lake Norman Hospital. “We have a bright future ahead and look forward to bringing the excellence and innovation of Duke Health to enhance the care offered at Duke Health Lake Norman Hospital and clinics,” says Craig Albanese, CEO of Duke Health. Duke Health Lake Norman Hospital offers 24-hour emergency care, labor and delivery services, cardiology, surgical and orthopedic care and an outpatient imaging center. The hospital has been operating since 1926 when it opened as Lowrance Hospital. The property comprises a main 171,000-square-foot hospital building and a separate 6,200-square-foot outpatient facility. Over the next several months, the hospital’s electronic medical records will be integrated into Duke Health’s system for patients to receive full access to the provider’s specialty care. Employees and providers at the hospital were also offered jobs with Duke Health to “enable a seamless transition for patients to have continued access to the providers, …

April 3, 2025

Development Mixed-Use Texas

Lincoln, Kairoi Complete 66-Story Mixed-Use Tower in Downtown Austin

by Taylor Williams April 2, 2025

AUSTIN, TEXAS — A partnership between Dallas-based Lincoln Property Co. and San Antonio-based Kairoi Residential has completed Sixth & Guadalupe, a 66-story mixed-use tower in downtown Austin. Begun in 2018 and designed by Gensler, Sixth & Guadalupe features 349 apartments and 589,000 square feet of office space, a 33,900-square-foot rooftop park and ground-floor retail space for a total footprint of roughly 2.3 million square feet. Residences come in studio, one-, two- and three-bedroom floor plans, with rents starting at approximately $2,400 per month. Residential amenities include multiple pools, a fitness center, clubroom, conference facilities, media room, golf simulator, indoor theater, dog run and a rooftop lounge. Office users also have access to private terraces on each floor.

April 2, 2025

Industrial Leasing Activity Texas

Lotte Global Logistics Signs 227,420 SF Industrial Lease in Denton, Texas

by Taylor Williams April 2, 2025

DENTON, TEXAS — Lotte Global Logistics has signed a 227,420-square-foot, full-building industrial lease at I-35 Convergence Park in the North Texas city of Denton. The speculative facility is located within Westpark Industrial Park. Joe Yoon of Realty Bank Group represented the tenant in the lease negotiations. Chris Teesdale, Tom Pearson and Ben Wallace of Colliers represented the landlord, Dallas-based Hunt Southwest. The other building at I-35 Convergence Park totals 250,080 square feet and was leased in 2021.

April 2, 2025

Affordable Housing Development Multifamily Texas

Overland Property Group Completes 94-Unit Affordable Housing Project in Fort Worth

by Taylor Williams April 2, 2025

FORT WORTH, TEXAS — Kansas-based developer Overland Property Group has completed Clifton Riverside, a four-story, 94-unit affordable housing project in the River East neighborhood of Fort Worth. The site spans 2.3 acres at 2406 E. Belknap St. According to Apartments.com, units come in studio, one- and two-bedroom units. Residences are reserved for households earning between 30 and 60 percent of the area median income. Amenities include outdoor courtyards, a fitness center, media center and a clubroom.

April 2, 2025

Leasing Activity Retail Texas

EōS Fitness to Open 43,801 SF Gym in Murphy, Texas

by Taylor Williams April 2, 2025

MURPHY, TEXAS — Dallas-based EōS Fitness will open a 43,801-square-foot gym in Murphy, a northeastern suburb of Dallas. EōS Fitness is backfilling a space previously occupied by 24 Hour Fitness at 229 E. FM 544, which according to LoopNet Inc. was originally constructed on a 6.8-acre site in 2008. Segovia Partners, a brokerage firm with offices in Dallas, Chicago and Jupiter, Fla., negotiated the lease. The opening is slated for some time in 2026.

April 2, 2025

Acquisitions Industrial Texas

Oxford Partners Arranges Sale of 12,813 SF Industrial Building in North Houston

by Taylor Williams April 2, 2025

HOUSTON — Locally based brokerage firm Oxford Partners has arranged the sale of a 12,813-square-foot industrial building in North Houston. According to LoopNet Inc., the building at 15458 W. Hardy Road was constructed in 1981 and features three drive-in bays and 16-foot clear heights. Perry Mazzone and Matt Rogers of Oxford Partners represented the buyer in the transaction. Wyatt Huff of Partners Real Estate represented the seller. Both parties requested anonymity.

April 2, 2025

Acquisitions Georgia Office Southeast

Atlanta Braves Holdings Acquires 763,465 SF Pennant Park Office Complex Adjacent to Truist Park

by John Nelson April 2, 2025

ATLANTA — Atlanta Braves Holdings Inc., owner and operator of the Atlanta Braves MLB team, The Battery Atlanta mixed-use development and Truist Park in Cobb County, has purchased an adjacent 763,465-square-foot office complex. The property, called Pennant Park, is situated on approximately 34 acres and comprises six office buildings and more than 2,700 parking spaces. The seller, Rubenstein Partners, has owned Pennant Park since 2017, the year that the Braves began playing at nearby Truist Park (formerly SunTrust Park). The sales price was not disclosed. The campus was more than 80 percent leased at the time of sale to 24 tenants, including The Home Depot, Juneau Construction Co. and TK Elevator. The acquisition expands the Atlanta Braves Holdings’ real estate portfolio by 30 percent. Pennant Park comprises two components: Pennant Commons (four buildings and a communal plaza known as The Quad) and Pennant View (two buildings). Amenities at the office park include 24-hour security, onsite engineering, a 48-person conference center, two fitness centers, onsite car detailing services, two cafés, Social Kitchen tenant lounge and cafe, a bocce ball court, putting green, multi-sport game court, helipad, lake with jogging trail and a Cobb Community Transit System bus stop.

April 2, 2025

Development Massachusetts Northeast Restaurant Retail

Simon Completes Redevelopment of Northshore Mall in Peabody, Massachusetts

by Taylor Williams April 2, 2025

PEABODY, MASS. — Simon Property Group has completed the redevelopment of Northshore Mall, a shopping, dining and entertainment destination located north of Boston in Peabody. Among the new tenants that have either recently been announced or opened new stores/facilities at Northshore Mall are Life Time Fitness, which opened a 116,000-square-foot athletic resort with multiple pools and spa facilities, as well as Arhaus and L.L. Bean. Interactive gaming experience Immersive Gamebox is also now part of Northshore Mall’s lineup of entertainment users, as is Golf Lounge 18 and Gametime Lanes & Entertainment, which offers bowling and other games in addition to food and drink. Dick’s Sporting Goods will open a new store at the property in 2026 under its “House of Sport” brand, and construction is now underway on a 142-room hotel that will be operated under the Residence Inn by Marriott brand. Conventional retailers that have also recently joined the tenant roster include Lululemon, Hollister, It’Sugar and Sandmagination, while the food-and-beverage component now features the likes of Sweetgreen, Big Chicken and Honeygrow, with Vermont-based Skinny Pancake and ice cream chain Van Leeuwen scheduled to open in the coming weeks. Lastly, electric vehicle maker Tesla recently debuted a new showroom at …

April 2, 2025

Acquisitions Florida Retail Southeast

Gazit Horizons Buys Galt Ocean Marketplace Shopping Center in Fort Lauderdale for $35.4M

by John Nelson April 2, 2025

FORT LAUDERDALE, FLA. — Miami-based Gazit Horizons Inc. has purchased Galt Ocean Marketplace, a 105,589-square-foot shopping center situated on a linear 8.6-acre site along A1A in Fort Lauderdale. The seller, an affiliate of a joint venture between Evergreen Investment Advisors and Kitson & Partners, sold the grocery-anchored property for $35.4 million. Casey Rosen, Dennis Carson, Sriram Rajan and Michael Etemad of CBRE represented the seller in the transaction. Galt Ocean Marketplace was 96 percent leased at the time of sale to tenants including Winn-Dixie, CVS, Holy Cross Hospital, McDonald’s, Flagstar Bank and Sherwin-Williams, among others.

April 2, 2025

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