Tuesday, August 4, 2026
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MultifamilySoutheast

THE ABBEY AT FOREST LAKES TRADES FOR $33 MILLION

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OLDSMAR, FLA. — Pacifica Companies has acquired a 400-unit multifamily community in Oldsmar from Abbey Residential for $33 million. The Abbey Forest Lakes is situated on 42 acres at 100 Old Village Way. Constructed in 1984, the community comprises 136 three-bedroom units, 232 two-bedroom units and 32 one-bedroom units. Community amenities include two resort-style pools with sundecks, a tennis court, a putting green, four laundry centers, a fitness center, a car care center, a sand volleyball court, boat storage, and picnic and barbecue areas. Jamie May of Marcus & Millichap’s Institutional Property Advisors represented the seller.

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IndustrialSoutheast

IDI BEGINS CONSTRUCTION FOR TWO INDUSTRIAL PROJECTS

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MIRAMAR AND DAVIE, FLA. — IDI has commenced construction for industrial buildings at two of its South Florida business parks. In Miramar, IDI will construct a 300,428-square-foot building within its 77-acre Miramar Business Centre. This project marks the final building in the business park, which will contain 1.1 million square feet upon its completion. In nearby Davie, IDI will construct a 122,175-square-foot building within Davie Business Center. This project marks the first building constructed in the 42-acre business park, which will contain 705,000 square feet of industrial space at full build-out. Both buildings will be built to LEED-Silver standards. Completion for both projects is expected in December.

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OfficeSoutheast

TRINITY CAPITAL ADVISORS ACQUIRES DURHAM OFFICE BUILDING

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DURHAM, N.C. — Trinity Capital Advisors has acquired a 73,446-square-foot office building located within Meridian Business Park in Durham. Anchor tenants at the property include SRA International and Lockheed Martin Corp. Trinity plans to recapitalize and reposition the asset with the short-term goal of achieving full occupancy. The seller in the deal was Byrd Meridian LLC. The purchase price was not released.

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IndustrialSoutheast

NGP REALTY BROKERS 300,000SF DISTRIBUTION FACILITY

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JACKSONVILLE, FLA. — Newmark Grubb Phoenix Realty Group (NGP) has brokered the sale of a 300,000-square-foot distribution facility located at 5550 W. 5th St. in Jacksonville’s Westside submarket. NGP’s John Richardson and Bryan Bartlett represented the seller, Zell Enterprises. Bob Hillis of Hillis Properties represented the buyer, Dupuy Storage Florida. The sale price was undisclosed.

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HospitalitySoutheast

HERSHA HOSPITALITY EXPANDING COURTYARD MIAMI BEACH OCEANFRONT

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MIAMI BEACH, FLA. — Hersha Hospitality Trust is completing an expansion and renovation of the Courtyard Miami Beach Oceanfront, which is located at 3925 Collins Ave. in Miami Beach. The project includes a 93-room oceanfront tower, which will be complete in the fall. Additional improvements will include a new 32-foot lobby bar and lounge, a new fitness center, a redesigned main pool area, a new pool and a new tiki bar deck area.

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MidwestOffice

GLENSTAR BUYS CONTINENTAL TOWERS FOR $58.5M

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ROLLING MEADOWS, ILL. — GlenStar Properties LLC has acquired Continental Towers, a 910,796-square-foot office complex in Rolling Meadows, located about 28 miles northwest of Chicago. Glenstar reportedly purchased the property with Walton Street Capital LLC for $58.5 million. The three-tower office complex was acquired from CW Capital on behalf of the owner, 1701 West Golf Road Holdings LLC. Glenstar plans to invest $8 million in capital improvements, which will include an overhaul of the driveways, entranceways, parking lot and landscaping. Signage, restrooms, tenant corridors and lobbies will also be upgraded. Tenants at the property include Komatsu America Corp., the Lincoln National Life Insurance Co., Advocate Health Partners, Fifth Third Bank and Chicago Title Insurance Co.

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IndustrialMidwest

MILWAUKEE BROACH CO. SIGNS 28,000 SF LEASE IN NEW BERLIN

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NEW BERLIN, WIS.— Milwaukee Broach Co. has signed a lease for 28,000 square feet at 5660 S. Westridge Court. The office property is located in the Westridge Business Park in New Berlin, a southwest suburb of Miwaukee. Kevin Barry and Kenneth Braden of Cassidy Turley Barry represented the owner, a private investor, in the transaction. Barry Chavin of NAI/MLG Commercial represented the tenant. Milwaukee Broach Co. makes cutting tools used to make metal parts for airplane turbines, automobiles and Snap-on and Craftsman tools.

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HospitalityMidwest

RCP PROPERTIES ACQUIRES TWO HOTELS IN COLUMBUS

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COLUMBUS, OHIO— Dallas-based RCP Properties (RCP) has acquired the 156-room Hilton Garden Inn and the 129-room Hampton Inn at the Port Columbus International Airport in Columbus. RCP plans to invest $2.5 million in both hotels for renovations. Key improvements include modernizing the façade of the Hampton Inn and refurbishing the guest rooms. RCP purchased the two hotels, which are the only hotels on airport property, from a court-appointed receiver. Steve Heldenfels of the HFF Dallas office arranged the financing.

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MidwestRetail

ENGLEWOOD CONSTRUCTION BUILDS 2,162 SF RETAIL STORE

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ROSEMONT, ILL. — Englewood Construction’s retail group has started construction on Ports 1961, a 2,162-square-foot luxury apparel store located within Fashion Outlets of Chicago development in Rosemont. Santa Monica, Calif.-based Montalbo Architects Inc. is designing the space. The 530,000-square-foot Fashion Outlets of Chicago will open in August. This is Ports 1961 first store in the Chicago area.

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MultifamilyNortheast

WASHINGTON TRUST FINANCES $1.96M CONDOMINIUM DEVELOPMENT IN RHODE ISLAND

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NARRAGANSETT, R.I. — Washington Trust’s Commercial Real Estate Group has provided $1.96 million in construction financing to Narragansett Highland Developers LLC for the development of a 16-unit, 8 duplex condominium project situated in a private cul-de-sac on Boston Neck Road in Narragansett. Washington Trust is a subsidiary of Washington Trust Bancorp Inc.

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