GRAND PRAIRIE, TEXAS — Younger Partners has arranged the sale of a 32-acre multifamily development site in Grand Prairie, located roughly midway between Dallas and Fort Worth. The site is located at the northwest corner of Lake Ridge and Great Southwest parkways. John St. Clair and Davis Willoughby of Younger Partners represented the undisclosed seller in the transaction. The buyer was multifamily developer JPI.
TALLAHASSEE, FLA. — A joint venture between Landmark Properties and Atlantic American Partners has completed The Metropolitan Tallahassee, a 702-bed student housing development located near the Florida State University campus in Tallahassee. Located at 1701 W. Pensacola St., the mid-rise project offers 217 fully furnished units in two- through four-bedroom configurations. Shared amenities include a swimming pool, jumbotron, outdoor recreation and grilling areas, a gaming lawn, putting green, fitness center, study spaces and onsite parking. The development team for the project included Dwell Design Studio and Landmark Construction, the in-house construction arm of Landmark Properties.
LAWRENCEVILLE, GA. — Parkland Residential has begun vertical construction at Sugarloaf Landing, a 114-unit build-to-rent residential community underway in Lawrenceville, a northeast suburb of Atlanta. Situated on 10 acres at 3440 Sugarloaf Parkway, the property will include rear-entry stacked townhomes, with each unit featuring two or three bedrooms and a one-car garage. Parkland Residential says that the townhomes will span between 1,600 for a two-bedroom home and 1,950 square feet for a three-bedroom unit, with monthly rental rates starting at $2,400. Prim Properties will begin leasing at the property in October. In addition to the townhomes, Sugarloaf Landing will feature a swimming pool with a cabana, playground, nature preserve, sidewalks and pocket parks.
JACKSONVILLE, FLA. — A partnership between The Stro Cos., KRE Group and The Silverman Group has acquired a newly delivered, 235,835-square-foot industrial facility located at 1511 Zoo Parkway in Jacksonville. The Class A property, which features 32-foot clear heights, 53 loading docks and 69 trailer parking spaces, is situated near Jacksonville Zoo and Gardens and Jacksonville International Airport, as well as I-95, I-295 and the St. Johns River. Kansas City-based VanTrust Real Estate sold the facility to the partnership for an undisclosed price. Albert Fitch and Kevin Bramhall of Stro represented the buyer internally.
ALPHA, N.J. — A partnership between locally based developer Woodmont Industrial Partners and Brookfield Properties will develop a 450,000-square-foot project in Alpha, located on the New Jersey-Pennsylvania border. Alpha 78 Logistics Center will be situated on a 33.6-acre site and feature a cross-dock configuration, clear height of 36 feet, 118 dock doors with four drive-ins, 6,000 square feet of office space and parking for 230 cars and 89 trailers. Completion is slated for the third quarter of 2025. CBRE will market the property for lease. CBRE also brokered the land deal, which closed in June and saw Woodmont sell the acreage to Brookfield.
ELIZABETHTON AND LAFOLLETTE, TENN. — Matthews Real Estate Investment Services has arranged the portfolio sale of two Tennessee shopping centers: Elk Crossing in Elizabethton and Cumberland Crossing in Lafollette. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the seller, Big V Property Group, in the portfolio sale. An entity doing business as Vishal 1 LLC purchased the portfolio for an undisclosed price. The centers, situated roughly 140 miles from each other, span a combined 170,900 square feet and were 99.4 percent leased at the time of sale. Elk Crossing’s tenant roster includes Ross Dress for Less, United Grocery Outlet and Workout Anytime, and Cumberland Crossing’s tenant roster includes Big Lots and Ross Dress for Less.
HAINES CITY, FLA. — SRS Real Estate Partners has brokered the $3.7 million sale of a newly delivered restaurant property located at 35654 U.S. Highway 27 in Haines City, a city in Central Florida. Chipotle Mexican Grill occupies the property on a 15-year triple-net lease. The 2,493-square-foot restaurant sits on 0.7 acres and features a drive-thru. Patrick Nutt, William Wamble and Connor Barton of SRS represented the seller, an undisclosed development firm based in Florida, in the transaction. The buyer, a private investment firm based in Spain, purchased the restaurant at a 4.5 percent cap rate.
PHILADELPHIA — PACE Loan Group (PLG) has provided $10.6 million in C-PACE financing for a 114-unit multifamily project in Philadelphia. The site at 1440 Front St. in the city’s Fishtown neighborhood is an assemblage of six vacant city lots. The project will include five studios, 95 one-bedroom units and 14 two-bedroom units, as well as a fitness center, business center and 2,083 square feet of retail space. Matthew McCormack of PLG originated the loan on behalf of the borrower, Archive Development. McCormack also worked with JLL to place a $14 million construction loan with Builders Capital for the project, which is slated for a summer 2026 delivery. Commercial Property-Assessed Clean Energy (C-PACE) financing offers favorable loan terms to borrowers that make qualified improvements in sustainability initiatives, including energy, lighting and water usage.
PHILADELPHIA — Pennrose, Wynnefield Overbrook Revitalization Corp. (WORC) and other project partners have broken ground on Good Shepherd, a 55-unit affordable seniors housing project in Philadelphia’s Overbrook area. The site formerly housed the Good Shepherd Presbyterian Church. The four story, 53,000-square foot building will offer one-bedroom apartments for seniors earning between 20 and 60 percent of the area median income. Delivery is slated for fall 2025.
BOSTON — Locally based brokerage firm Atlantic Capital Partners has negotiated the $4 million sale of an 11,323-square-foot vacant commercial building in downtown Boston. According to LoopNet Inc., the building at 19-21 School St. was originally built in 1953 and can support both office and retail uses. Justin Smith, Chris Peterson, Sam Koonce and Matt Ericson of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.