Property Type

Highland Resources Breaks Ground on 192-Acre Magnolia Landing Mixed-Use Project in Charleston

by Kristin Harlow March 5, 2025

CHARLESTON, S.C. — Highland Resources Inc. has broken ground on Magnolia Landing, a planned mixed-use community located along the Ashley River in Charleston. Spanning 192 acres, the project will offer a blend of parks, residences, hospitality options, offices, shops, restaurants, waterfront docks, a marina and entertainment options. Full build-out of the multi-phase project is anticipated by 2040. The first residents are expected to take occupancy in 2027. Plans for the first phase include a high-rise waterfront residential community and a mid-rise property both developed by Charleston-based Woodfield Development, offering a total of 600 rental residences, including affordable housing. The first phase will also feature 158 luxury townhomes developed by an undisclosed national developer. Plans also call for multiple office and retail buildings. The first phase will include a waterfront, Class A office building totaling 100,000 square feet in addition to 75,000 square feet of street-level retail, gourmet restaurants and commercial space. Magnolia Landing will also offer a range of hospitality options designed to cater to both short-term visitors and extended stays. The first phase will include a 125-room boutique hotel. The project will incorporate a marina featuring day-dock options, four waterfront restaurants with direct day-dock access, a boat club, monthly …

March 5, 2025

Acquisitions Multifamily Texas

AvalonBay Agrees to Acquire Dallas-Fort Worth Multifamily Portfolio for $431.5M

by Taylor Williams March 4, 2025

DALLAS — Virginia-based multifamily REIT AvalonBay Communities (NYSE: AVB) has agreed to acquire a portfolio of six multifamily properties totaling 1,844 units in the Dallas-Fort Worth (DFW) metroplex for $431.5 million. The seller is BSR REIT, and the deal is expected to close in the second quarter. The properties — Auberry at Twin Creeks, Satori Frisco, Vale Frisco, Aura Benbrook, Lakeway Castle Hills and Wimberly — were all built between 1995 and 2021 and range in size from 216 to 349 units. AvalonBay acquired the portfolio in conjunction with two Austin-area communities that sold for $187 million.

March 4, 2025

Acquisitions Industrial Office Texas

BH Properties Buys 374,085 SF Legacy R&D Business Park in Plano, Plans Industrial Conversion

by Taylor Williams March 4, 2025

PLANO, TEXAS — California-based investment firm BH Properties, which also has two offices in Texas, has purchased Legacy R&D, a 374,085-square-foot business park in Plano that the company plans to convert to industrial use. The 40-acre property consists of seven buildings that were 58 percent leased at the time of sale. Elizabeth Malone and K.C. Scheipe of Eastdil Secured represented the undisclosed seller in the transaction. The new ownership has tapped Stream Realty Partners to lease the park, including to prospective life sciences users.

March 4, 2025

Development Industrial Texas

Alliance Industrial Breaks Ground on 201,221 SF Distribution Center in Irving

by Taylor Williams March 4, 2025

IRVING, TEXAS — Houston-based developer Alliance Industrial has broken ground on Airport Bend Commerce Center, a 201,221-square-foot distribution building in Irving. The 13.2-acre site formerly housed the office operations of retailer Michaels. The development will feature two rear-load buildings totaling 171,608 and 29,613 square feet with 32-foot clear heights. Project partners include Seeberger Architecture, Langan Engineering, Alliance Industrial Builders and Stream Realty Partners. Completion of Airport Bend Commerce Center is slated for the first quarter of 2026.

March 4, 2025

Development Retail Texas

Weitzman Completes Renovation of 78,914 SF Shopping Center in Irving

by Taylor Williams March 4, 2025

IRVING, TEXAS — Weitzman has completed the renovation of Grande Center, a 78,914-square-foot shopping center in Irving. The project involved resurfacing the center’s stucco façade and updating tenant and pylon signage with new lighting and color schemes. The renovation also revamped Grande Center’s signature building and created additional tenant visibility. Weitzman acted as the project manager, with Hodges & Associates and Preston Pierce Construction acting as architect and general contractor, respectively.

March 4, 2025

Development Industrial Texas

Welcome Group Delivers Two Industrial Buildings Totaling 40,080 SF in Baytown, Texas

by Taylor Williams March 4, 2025

BAYTOWN, TEXAS — Locally based developer Welcome Group had delivered two industrial buildings totaling 40,080 square feet in Baytown, an eastern suburb of Houston. The twin buildings are situated on a 4.3-acre site within the TGS Cedar Port Industrial Park master-planned development. Project partners include Tomorrow Planning (architect), KDW (general contractor) and Simmons Bank (construction lender). Welcome Group is also leasing the buildings, each of which also houses 2,200 square feet of office space.

March 4, 2025

Acquisitions North Carolina Office Southeast

Highwoods Agrees to Purchase 20-Story Advance Auto Parts Tower in Raleigh

by John Nelson March 4, 2025

RALEIGH, N.C. — Highwoods Properties Inc. has agreed to purchase Advance Auto Parts Tower, a 20-story office building located in Raleigh’s North Hills district. The seller and sales price were not disclosed, but Triangle Business Journal reported that the 346,000-square-foot property was sold by Lionstone Investments, which delivered the tower in 2020 along with current property manager Kane Realty Corp. The deal is expected to close in the next 30 days, and Highwoods has contributed $20 million in earnest money deposits in advance of the closing. Advance Auto Parts Tower was fully leased as of year-end 2024, with retailer Advance Auto Parts anchoring the office building. The office tower is situated adjacent to Highwoods’ 16-story CAPTRUST Tower.

March 4, 2025

Alabama Development Multifamily Southeast

Rockefeller, T2 Capital Begin Leasing 332-Unit Multifamily Property in Downtown Huntsville

by John Nelson March 4, 2025

HUNTSVILLE, ALA. — Rockefeller Group and T2 Capital Management have begun leasing Vista at Councill Square, a 332-unit apartment development in downtown Huntsville. Designed by Matheny Goldmon Architecture + Interiors and OKW Architects, the six-story property will feature a mix of studio, one-, two- and three-bedroom apartments, including a few two-level townhomes. Monthly rental rates at Vista at Councill Square will begin at $1,403. Amenities will include two dedicated coworking spaces on the first and sixth floors, a fitness center with a yoga and meditation room, hospitality unit available for residents’ guests to rent nightly, EV charging stations in the garage, a game room and lounge, bike storage, pet spa and a rooftop pool deck.

March 4, 2025

Development Georgia Multifamily Southeast

RangeWater, Partners to Develop 269-Unit Apartment Community in Lilburn, Georgia

by John Nelson March 4, 2025

LILBURN, GA. — Locally based multifamily development and management firm RangeWater Real Estate has partnered with the City of Lilburn and Dallas-based The Meridian Group to develop a 269-unit apartment community in Lilburn, a northeast suburb of Atlanta in Gwinnett County. RangeWater acquired the four-acre site at 45 Railroad Ave. in Old Town Lilburn near Lilburn City Park. RangeWater and its partners worked closely with the Downtown Development Authority on the project, which will include a public-private parking garage. The unnamed property will offer studio, one-, two- and three-bedroom apartments, spanning in size from 537 to 1,578 square feet. Amenities will include a boutique gym and wellness facility, coworking space, dog spa, resident bar, lounge with vaulted ceilings, swimming pool, outdoor grills, gardens for resident al-fresco dining, a public/private amphitheater-style courtyard and a trailhead for Camp Creek Greenway Trail. The development team plans to break ground this spring and wrap up construction in late 2026.

March 4, 2025

Development South Carolina Southeast Student Housing

Stratus Development Breaks Ground on Student Housing Community Near University of South Carolina

by John Nelson March 4, 2025

COLUMBIA, S.C. — Stratus Development Group has broken ground on Pickens Corner, a 60-bed student housing development located at 480 S. Pickens St. near the University of South Carolina campus in Columbia. Located in the city’s Rosewood neighborhood, Pickens Corner will offer townhomes featuring three bedrooms and three-and-a-half bathrooms. Completion on the project is scheduled for August 2025.

March 4, 2025

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