Monday, August 17, 2026
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Southeast

Black Creek Commerce Center
DevelopmentGeorgiaIndustrialLoansSoutheast

JLL Secures Financing for Industrial Development Underway Near Savannah Totaling $70.4M

by Abby Cox

BLACK CREEK, GA. — JLL Capital Markets has secured $30.5 million in joint venture equity and $39.9 million in construction financing for Black Creek Commerce Center, a three-building industrial development underway in Black Creek, roughly 23 miles northwest of Savannah. Bobby Norwood, Mark Sixour, Britton Burdette, Jim Freeman, Kelsey Bawcombe and Austin Smith of JLL arranged the construction loan through Seacoast Bank on behalf of the developer, Xebec, and placed the joint venture equity with a unnamed, private investment group. Scheduled to deliver in the third quarter of 2027, the 687,890-square-foot development will include three rear-load buildings that feature 36-foot clear heights, 50-foot loading bays with 60-foot speed bays, 130-foot truck courts, ESFR fire suppression systems and TPO roofing. The site sits nearly seven miles from Hyundai’s $7.6 billion Metaplant America facility underway and 28 miles from the Port of Savannah’s Garden City Terminal. Xebec will continue to hold a right of first refusal on Phase II of the project, an adjacent 77-acre parcel, through April 2027.

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potomac-place-shopping-center
LoansMarylandRetailSoutheast

Northmarq Arranges $50.8M Loan for Grocery-Anchored Retail Center in Metro D.C.

by Abby Cox

POTOMAC, MD. — Northmarq has arranged a $50.8 million permanent, fixed-rate loan for the refinancing of Potomac Place Shopping Center, an 80,040-square-foot retail center located in Potomac, roughly 15 miles northwest of downtown Washington, D.C. Originally constructed in 1967, Potomac Place is anchored by Safeway and features a tenant mix including Chipotle Mexican Grill, Starbucks Coffee, Mathnasium, Rose Home Services, Walgreens, PNC Bank and East West Tae Kwon Do. Jason Smith and Kenneth Gentzel of Northmarq arranged the loan through Nationwide Life Insurance Co. on behalf of the borrower, Zuckerman Gravely.

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Cypress Point Business Park
AcquisitionsDevelopmentFloridaIndustrialLoansSoutheast

Bluecrest Capital Acquires 226,500 SF Flex Development in Jacksonville, Plans Industrial Conversion

by Abby Cox

JACKSONVILLE, FLA. — Nashville-based Bluecrest Capital Advisors has acquired Cypress Point Business Park, a 226,500-square-foot industrial flex development in Jacksonville, for $28 million. Philip Rachels of CBRE secured debt financing through First Horizon Bank on behalf of Bluecrest Capital. Robbie McEwan and Jesse Jones of JLL Capital Markets represented the seller, an entity doing business as Viking Partners Cypress LLC, in the transaction. Constructed between 1999 and 2004, the six-building park features four office buildings totaling 146,500 square feet and two light industrial buildings totaling 80,000 square feet. The property was 62 percent leased at the time of sale to five regional and national tenants including US Assure Insurance and ADT. Bluecrest Capital plans to convert 85,000 square feet of vacant space to small-bay light industrial infill space (SBLI). Within three years, the company says it expects to have converted approximately 76 percent of the gross leasable area converted to SBLI through lease rollovers and strategic build-outs. The remaining 24 percent is expected to be converted following year three. Bluecrest Capital also plans upgrades and renovations to subdivide larger suites into smaller units.

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Herndon-Square-Phase-II
Affordable HousingDevelopmentGeorgiaSoutheast

Capstone Completes Construction of 201-Unit Affordable Housing Development in Atlanta

by Abby Cox

ATLANTA — Capstone Building Corp. has completed the construction of Herndon Square Phase II, a $57 million affordable housing development located in Atlanta’s Westside neighborhood. The second phase of Herndon Square, which serves as a key component of the larger Legacy at Herndon Square redevelopment, rises six stories and spans 335,348 square feet. The building features 201 apartments in one-, two- and three-bedroom floorplans. Amenities include a resident lounge, fitness center, interior courtyard, playground, wellness clinic, enclosed parking deck, dog wash station and outdoor grilling and picnic areas. Along with Birmingham, Ala.-based general contractor Capstone Building Corp., the project team comprises Atlanta Housing, Hunt and Pennrose (developers), as well as Thriven Design (architect).

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Market ReportsRetailSoutheastSoutheast Market ReportsTennessee

Redevelopment, Reinvestment Shape Memphis Retail Sector’s Next Chapter

by John Nelson

For years, much of Memphis’ retail growth has been concentrated in the suburbs. More recently, however, redevelopment activity in East Memphis, Midtown and Downtown has created a new source of investment and retail demand.  While suburban growth remains steady, some of the market’s most notable projects are occurring in established areas where older properties are being redeveloped and repositioned for new uses. As a result, some of the market’s most significant activity is occurring within existing commercial corridors rather than through large-scale retail expansion. Memphis remains a healthy retail market, although growth has become more measured than it was a few years ago. Retail vacancy is forecast to reach 5 percent in 2026, while average asking rents are projected to climb to $14.20 per square foot.  New supply also remains relatively limited. After more than 400,000 square feet of retail space was delivered annually in both 2023 and 2024, just 250,000 square feet is forecast to come on line in 2026. Limited new supply has helped support rent growth across existing shopping centers. Some of the strongest examples of this trend can be found in Midtown, Downtown and East Memphis, where older sites are being transformed into new mixed-use developments. …

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Tradition_FL_Clubhouse
DevelopmentFloridaMultifamilySoutheast

NRP Group Breaks Ground on 312-Unit Luxury Apartment Community in Port St. Lucie, Florida

by Abby Cox

PORT ST. LUCIE, FLA. — The NRP Group has broken ground on a 312-unit luxury apartment complex located within the master-planned community of Tradition in Port St. Lucie. Situated on approximately 18 acres, the project will comprise 10 three-story buildings offering a mix of one-, two- and three-bedroom apartments ranging in size from 720 to 1,300 square feet. Amenities will include a 24-hour fitness center; resort-style swimming pool; coworking suites and dedicated work-from-home offices; a multipurpose resident lounge with a full kitchen; package concierge and storage facilities; outdoor grilling areas; and landscaped courtyards, gathering spaces and a walking trail surrounding the community’s onsite lake. Designed by Group 4 Architecture, the project is slated for completion in summer 2028. M&T Bank provided construction financing for the development.

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Mandeville-Marketplace
AcquisitionsLouisianaRetailSoutheast

SRS Real Estate Negotiates $8M Sale of Retail Center in Mandeville, Louisiana

by Abby Cox

MANDEVILLE, LA. — SRS Real Estate Partners has negotiated the $8 million sale of Mandeville Marketplace, a 62,324-square-foot retail center located in Mandeville. Built in 1988 on six acres, the property was fully leased at the time of sale to five tenants including Altitude Trampoline Park and Crunch Fitness. Sabrina Sapienza and Chad Lieber of SRS Real Estate represented the seller, a Louisiana-based owner. Ben Stalter of Maestri-Murrell represented the buyer, a Louisiana-based private investor, in the transaction. Both parties requested anonymity.

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225-Tormenta-Way-WEB-04
AcquisitionsDevelopmentGeorgiaRetailSoutheast

Colliers Negotiates Sale of 30,865 SF Retail Center in Statesboro, Georgia

by Abby Cox

STATESBORO, GA. — Colliers has negotiated the sale of University Station, a newly constructed, 30,865-square-foot retail center located near the Georgia Southern University campus in Statesboro. The center was fully leased at the time of sale to tenants including QDOBA, Hotworx, Eyemart Express, Uptown Cheapskate, Blaze Pizza and Oconee State Bank, among others. The property is part of a larger development surrounding the university that includes a recently developed Publix-anchored shopping center, new student housing projects and additional residences. Henry Kushner, Ashley Smith and Tyler Mouchet of Colliers represented the undisclosed seller in the transaction. Last Mile Investments purchased the property for an undisclosed price.

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cheesecake-factory
GeorgiaLeasing ActivityMixed-UseRestaurantSoutheast

Cheesecake Factory Signs Lease at Collection at Forsyth Mixed-Use Development in Metro Atlanta

by Abby Cox

CUMMING, GA. — The Cheesecake Factory has signed a 6,500-square-foot lease at The Collection at Forsyth, a 565,000-square-foot mixed-use lifestyle center located in Cumming, a north Atlanta suburb in Forsyth County. The new restaurant opened on July 21 and has created more than 200 local jobs, according to the company’s press release. Sherri Wilson of Partners Real Estate represented the landlord, CTO Realty Growth Inc., in the lease negotiations. Other recent tenant additions at The Collection at Forsyth include Sephora, Warby Parky, Berkshire Hathaway HomeServices Georgia Properties, Kimley-Horn, Build-A-Bear Workshop, BODYROK, Rocket Fizz and The Picklr. Another new tenant coming soon is global lifestyle retailer Miniso, which is currently under construction and planning to open in September.

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SparrowHawk-Almanac
AcquisitionsIllinoisIndustrialKentuckyMidwestMissouriOhioTop Stories

SparrowHawk, Almanac Realty Acquire 4.4 MSF Industrial Portfolio in Midwest for Nearly $400M

by Abby Cox

HOUSTON AND NEW YORK CITY — A joint venture between SparrowHawk and New York City-based Almanac Realty Investors has acquired a 20-property, 4.4 million-square-foot industrial portfolio located across six markets in the Midwest. Stockholm-based global investment firm EQT sold the portfolio for nearly $400 million. Brian Walsh, Lucas Borges, Steve Klein, Chris Pratt, Emma Berner and Christian Johnston of JLL Capital Markets secured a five-year, $236 million acquisition loan through PPM America on behalf of the buyers. “This acquisition accelerates SparrowHawk’s strategic expansion in the Midwest with a portfolio that is integral to connecting industrial occupiers to the large consumer markets driving logistics and e-commerce growth,” says Alfredo Gutierrez, president and founder of SparrowHawk. The assets, which are spread throughout St. Louis, Cincinnati, Cleveland, Columbus, Dayton and Louisville, were 94 percent leased at the time of sale to 30 tenants across multiple industries such as logistics and distribution; business and professional services; industrial and manufacturing; e-commerce and retail; and wholesale and supply distribution. According to various media sources, 50 percent of the collection by square footage is located in St. Louis, while Cincinnati holds approximately one-fifth of the portfolio. The industrial properties feature 30-foot average clear heights, extensive dock capacity, tilt-up …

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