SWEETWATER, TENN. — The Hollingsworth Cos. plans to break ground on SouthPoint Business Park, a 150-acre industrial park in Sweetwater, a city in East Tennessee located in Monroe and McMinn counties. The park will be situated off I-75 on Exit 60 and comprise 12 single-tenant industrial facilities. The first phase features two buildings that are being built on a speculative basis and are set for completion in 2027. The Hollingsworth Cos. is headquartered in Clinton, Tenn., and has developed several SouthPoint-branded business parks across the Southeast. The developer will hold an official groundbreaking ceremony on Monday, Oct. 19 along with U.S. Sen. Bill Hagerty (R-Tenn.), U.S. Sen. Marsha Blackburn (R-Tenn.) and Congressman Chuck Fleischmann (R-Tenn.). An entity doing business as Sweetwater Development LLC is listed as the “property developer” for SouthPoint Business Park, while Hollingsworth is serving as the “facility developer.”
Subtext, FrontRange Capital Open 697-Bed Student Housing Community Near University of South Carolina
COLUMBIA, S.C. — Subtext, along with development partner FrontRange Capital, has opened VERVE Columbia, a 697-bed student housing community located at 450 Blossom St. in Columbia, which is roughly two blocks from the University of South Carolina (USC) campus. The 223-unit, four-story property spans more than 400,000 square feet and is situated directly across from USC’s baseball arena, Founders Park. Amenities include a 24/7 fitness center, outdoor fitness stations, a sauna, meditation rooms, basketball and pickleball courts, resort-inspired pool courtyard with hot tub and sun shelf, poolside Jumbotron, cabanas and hammock swings, fire pits, grilling stations, club room with TV and game lounges, a multi-sport simulator, group and private study spaces, study pods and booths, content creation studio, a coffee bar in the lobby with cold brew on tap, pet spa, dog park, EV charging stations and bike and scooter storage with charging and repair stations. The project team includes architect Dynamik Design, interior designer Mary Cook Associates, general contractor W.M. Jordan Co. and civil engineer Davis & Floyd. CIBC arranged construction financing via a syndication of lenders. VERVE Columbia is Subtext’s first student housing community to deliver in the Columbia market, with another project under construction at 931 Senate …
JONESBORO, ARK. — SANY Nutrition Group, a family-owned-and-operated food manufacturer based in Jonesboro, has launched its new production facility in its home market. The 89,100-square-foot factory, located at 9401 E. Highland Drive in Jonesboro, was formerly operated by Butterball. From the newly retrofitted plant, SANY Nutrition Group is launching its flagship snack platform, Beyond Resilience, with plans to produce 500 million snack products annually. SANY’s Beyond Resilience Protein Crunch Bar is available now at Walmart stores nation-wide as well as online, and SANY plans to sell the crunch bar at additional retailers in the near future, as well as the company’s line of Crunch Pops, Prookies, Giant Clusters, Brittles, Fro-Bite and Vitamin Splash products. In addition to the factory, SANY purchased additional land surrounding the factory for future expansion opportunities.
CHATTANOOGA, TENN. — Hunter Advisors has arranged the sale of two hotels in Chattanooga: Residence Inn by Marriott Chattanooga and TownePlace Suites by Marriott Chattanooga. CN Hotels purchased the two hotels from an undisclosed institutional seller. The sales price was also not disclosed. Tim Osborne of Hunter brokered the transaction. The hotels total 196 rooms and are both situated off I-75 near Hamilton Place mall on the city’s east side. The 109-room Residence Inn was built in 2009 and features approximately 7,959 square feet of meeting space, and the 87-room TownePlace Suites was built in 2012.
WEST POINT, GA. — Hyundai Transys Georgia Powertrain, an automotive parts specialist in the Hyundai family of brands, has announced it will invest $560 million to expand its manufacturing operation at 6801 Kia Parkway in West Point, a west Georgia city near the Alabama border. The investment will fund upgrades to two current buildings and the construction of a third on the campus. The expansion will support added production capacity for electrified powertrains for hybrid vehicles. Hyundai Transys plans to create 320 new jobs as a result of the expansion, adding to its current total of 1,250 employees. The construction timeline was not disclosed. Civic and utility partners for the Hyundai Transys project include the Georgia Department of Economic Development’s Global Commerce team, the City of West Point, Georgia Quick Start and Georgia Power.
POOLER, GA. — SunCap Property Group has purchased 65 acres in Pooler, a western suburb of Savannah, for the development of Pine Meadow Logistics Park. Situated at Pine Meadow Drive and Pine Barren Road, the two-building development will span 959,822 square feet at full build-out. SunCap has tapped Hilary Shipley and Sebastian Findlay of Colliers Savannah to lease Pine Meadow, which sits within close proximity to I-95, I-16 and the Port of Savannah’s Garden City Terminal. The project will comprise a 606,323-square-foot cross-dock building and a 353,499-square-foot rear-load facility. SunCap expects to deliver both buildings by October 2027.
RALEIGH, N.C. — A partnership between Portsmouth Real Estate Partners and Marcus Partners has purchased Vine North Hills, a 326-unit multifamily community located at 500 St. Albans Drive in Raleigh. The seller and sales price were not disclosed. Newmark arranged an undisclosed amount of acquisition financing for the partnership, which is the first venture between Portsmouth and Marcus. Vine North Hills sits within the 33-acre North Hills Innovation District, which is part of Raleigh’s North Hills mixed-use neighborhood. Completed in 2020, the property offers studio, one-, two- and three-bedroom apartments, as well as a “full” suite of amenities and structured parking.
DECATUR, GA. — RangeWater Real Estate and Nippon Steel Kowa Real Estate Co. (NSKRE) have broken ground on Ellory House, a 274-unit apartment community at Lulah Hills, a 78-acre mixed-use development underway in Decatur, an eastern suburb of Atlanta in DeKalb County. EDENS is the master developer of Lulah Hills, which is a redevelopment of the former North DeKalb Mall. EDENS is also listed as a sponsor for the Ellory House project, which will be located directly along Lulah Hills’ main street, Lulah Avenue, and across from Lemon Park, the development’s largest green space. In addition to apartments, Ellory House will feature 39,000 square feet of ground-level retail space. The construction timeline was not released. This development represents RangeWater’s first development deal with NSKRE and its 31st in the Atlanta market.
CHICAGO — Chicago-based JLL Capital Markets has arranged $463 million in bridge financing for Thompson Thrift’s eight-property multifamily portfolio comprising 2,412 Class A apartment units across Florida, Georgia and Arizona. JLL secured the floating-rate construction take-out loan through Barings. The portfolio includes: Floor plans average 1,023 square feet. Unit interiors feature gourmet kitchens with stainless steel appliances, quartz or granite countertops, smart home technology, full-size washers and dryers, and private balconies or patios. Examples of amenities include fitness centers, resort-style pools, resident social hubs with coffee bars, pickleball courts, dog parks with pet spas, business centers and outdoor spaces. Danny Kaufman, Medina Spiodic, Mark Gibson and Matthew Lawton of JLL arranged the loan on behalf of Thompson Thrift. Daniel Hedgepeth of Barings originated the financing. With offices in Indianapolis and Terre Haute, Ind., Denver, Houston and Phoenix, Thompson Thrift develops, constructs, leases and manages multifamily communities. The firm has developed more than $7.9 billion in ground-up real estate projects across 25 states. — Kristin Harlow
MORRISVILLE, N.C. — JLL has arranged $237.7 million loan for Phase I of Pathway Triangle, a life sciences campus underway in North Carolina’s Research Triangle Park (RTP). Phase I comprises four life sciences and advanced manufacturing buildings totaling 581,789 square feet on McCrimmon Parkway in Morrisville, about 14 miles west of Raleigh. Brett Paulsrud, Amy Lousararian, Andrew Gray, Ward Smith, Hugh Doherty and Libby Horton of JLL arranged the loan through Starwood Property Trust on behalf of the borrower, King Street Properties. Two buildings totaling 377,111 square feet have been completed at Pathway Triangle and are 73 percent leased. Building 1 is partially leased to Liquidia Pharmaceuticals for the manufacturing of Yutrepia, an FDA-approved inhalation powder treating pulmonary arterial hypertension. Building 2 is fully leased to Novartis. Construction began recently on the other two Phase I buildings — Building 4 (148,434 square feet) and Building 7 (56,244 square feet), which is fully preleased to Novartis. A second phase is planned for Pathway Triangle, upon completion of which the campus will span 950,000 square feet.
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