Southeast

JACP-Center-Point-Business-Park-Aerial-22

Merritt Properties Acquires 11-Building Industrial Park in Jacksonville

by Abby Cox July 24, 2026

JACKSONVILLE, FLA. — Merritt Properties has acquired Center Point Business Park, an 11-building, 537,800-square-foot light industrial park located in Jacksonville’s Butler corridor near the Florida East Coast Railway. According to the Jacksonville Business Journal, Merritt Properties purchased the campus for $89.8 million. This latest office park acquisition marks Merritt’s first major transaction after receiving a $750 million investment led by Centerbridge Partners to boost its long-term growth strategy. Royce Rose and Justin Rabin of CBRE represented the seller, Plymouth REIT, in the transaction. Spencer Cummings and Cassidy Bergstrom led Gunster’s legal team in representing Merritt Properties. Situated at 4801-6631 Executive Park Court, Center Point Business Park was 99 percent leased at the time of sale to 35 tenants. The property features 18- to 22-foot clear heights, rear-load configurations, dock-high loading, concrete tilt-wall construction, 107 dock doors and 1,005 parking spaces. On average, tenant spaces are approximately 15,100 square feet. In addition to its existing portfolio, Merritt owns land at Imeson Landing Business Park and Oakleaf Commerce Center in Jacksonville, where future light industrial development is planned.

July 24, 2026

Development Georgia Multifamily Southeast

Thompson Thrift to Begin Construction on 300-Unit Luxury Multifamily Community Near Savannah

by Abby Cox July 24, 2026

POOLER, GA. — Thompson Thrift plans to soon break ground on The Foundry at Mosaic, a 300-unit luxury multifamily community located in Pooler, a western suburb of Savannah. The development will be capitalized with equity from the Thompson Thrift 2025 Multifamily Development investment fund. Construction is expected to begin this month, with resident move-ins anticipated for November 2027. Situated within the Mosaic Town Center mixed-use development, The Foundry will feature a mix of one-, two- and three-bedroom apartments spanning up to 1,475 square feet in size. Amenities will include a resort-style swimming pool, 24/7 fitness center, courtyards, an outdoor entertainment kitchen, grilling areas, a pickleball court, dog park, resident conference room, billiards, shuffleboard, a golf simulator and a variety of indoor/outdoor gathering spaces. The Foundry at Mosaic marks Thompson Thrift’s second multifamily development near the Savannah Quarters master-planned community. In addition, the firm recently completed construction on The Liliana, a 360-unit luxury apartment community currently leasing nearby.

July 24, 2026

Development Industrial South Carolina Southeast

Chesterfield Breaks Ground on Industrial Development in Blythewood, South Carolina

by Abby Cox July 24, 2026

BLYTHEWOOD, S.C. — Chesterfield has broken ground on Carolina Pines International Commerce Center, a planned industrial development located about 18 miles north of Columbia. Carolina Pines International Commerce Center is designed for industrial, manufacturing and logistics use, specifically marketed to attract suppliers and operations supporting the nearby Scout Motors’ $2 billion Blythewood electric vehicle manufacturing facility. Building 1, which will total approximately 162,176 square feet, will include 32-foot clear heights, 35 dock doors, 49 trailer parking spaces, 107 car parking spaces, 7-inch concrete floor slabs and a 3,000-amp power supply. Building 1 is expected to be delivered in the first quarter of 2027. Building 2 is planned as a 212,420-square-foot speculative building. Further details of the project were not disclosed.

July 24, 2026

Development Mixed-Use Southeast Virginia

Monday Properties Receives Approval for Mixed-Use Development in Arlington, Virginia

by Abby Cox July 24, 2026

ARLINGTON, VA. — Monday Properties has received approval from the Arlington County Board for a major site plan amendment for the redevelopment two contiguous 12-story office buildings in Arlington’s Rosslyn district: 1401 Wilson Boulevard and 1400 Key Boulevard. The two office buildings, which were constructed in 1964, will be transformed into two 27-story multifamily towers dubbed The 1400s that will total 831 apartments, along with 28,959 square feet of ground-floor retail space anchored by a grocery store and a split-level parking garage. In addition, roughly 52 percent of the site will be allocated for publicly accessible open space. The project team includes Shalom Baranes Associates (architect of record), ParkerRodriguez (landscape architect) and VIKA Capitol (civil engineering and site design firm). A timeline for construction was not disclosed.

July 24, 2026

Development Multifamily Southeast Virginia

Bonaventure Breaks Ground on $85.3M Multifamily Development in Norfolk

by John Nelson July 23, 2026

NORFOLK, VA. — Bonaventure has broken ground on Attain at Newtown, an $85.3 million multifamily development located at 6659 E. Virginia Beach Blvd. in Norfolk. The 320-unit project, which is situated within an opportunity zone, is the second Attain-branded multifamily development that Bonaventure has begun construction on in the past month. The developer is financing Attain at Newtown with equity from Cafritz Asset Management LLC and a HUD 221(d)(4) loan originated by Greystone. Bonaventure plans to deliver first units in fall 2027. The Class A community will offer a mix of one-, two- and three-bedroom residences averaging 1,010 square feet in size. The design-build team includes general contractor Marlyn Development Corp., architect Cox, Kliewer & Co. and civil engineer Timmons Group. Bonaventure affiliate Vest Residential will serve as the property manager for Attain at Newtown.

July 23, 2026

Development Florida Self-Storage Southeast Virginia

Space Shop Underway on Three Self-Storage Properties in Florida, Virginia Totaling 2,088 Units

by John Nelson July 23, 2026

ATLANTA — Space Shop Self Storage has three self-storage properties underway in Florida and Virginia totaling 2,088 units. With these projects, the Atlanta-based firm is nearing 80,000 units under management across more than 100 facilities. The newly announced properties include a 715-unit facility located at 134 Mason Ave. in Holly Hill, Fla.; a 668-unit property at 480 Cogan Drive SW in Palm Bay, Fla.; and a 705-unit facility located at 10265 Lakeridge Parkway in Glen Allen, Va. The projects span a combined 297,000 square feet and represent a total investment of $40 million. Space Shop plans to deliver all three properties in spring 2027.

July 23, 2026

Acquisitions Industrial Kentucky Southeast

Colliers Negotiates Sale of 302,400 SF Industrial Facility in Shelbyville, Kentucky

by John Nelson July 23, 2026

SHELBYVILLE, KY. — Colliers has negotiated the sale of a 302,400-square-foot industrial facility located at 530 Logistics Drive in Shelbyville, a suburb roughly 30 miles east of Louisville. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse and Tyler Ziebel of Colliers, along with Doug Butcher and Alex Grove of CBRE, represented the seller, Gray Development, in the transaction. Elmtree Funds purchased the facility, named Gray Industrial Center Building 2, for an undisclosed price. Gray Development recently delivered the property as a build-to-suit for logistics provider Kuehne+Nagel. Situated on 32.2 acres one mile from I-64, the facility features 36-foot clear height, 43 dock doors, two drive-in doors, ESFR fire suppression, 56- by 54-foot column spacing with 70-foot speed bays, a 140-foot truck court, 61 trailer parking spaces and 334 auto parking spaces.

July 23, 2026

Acquisitions Alabama Healthcare Southeast

JLL Arranges Sale of 45,904 SF Outpatient Medical Facility in Florence, Alabama

by John Nelson July 23, 2026

FLORENCE, ALA. — JLL has arranged the sale of Singing River Cancer Center, a 45,904-square-foot outpatient medical facility located at 180 Cox Creek Parkway S in Florence, a city in North Alabama’s Tennessee Valley region. Purpose-built on a 6.6-acre site in 2020, Singing River is a single-story cancer center operated by OneOncology affiliates. Evan Kovac, Andrew Milne, John Chun, Matt DiCesare and Timothy Joyce of JLL’s Medical Properties Group represented the seller, Cypress West Partners, in the transaction. The buyer, a joint venture between Remedy Medical Properties and Kayne Anderson Real Estate, purchased Singing River for an undisclosed price.

July 23, 2026

Data Centers Development Georgia Industrial Southeast Top Stories

OpenAI Plans $20B Data Center Development Near Savannah, Georgia

by Hayden Spiess July 23, 2026

EFFINGHAM COUNTY, GA. — OpenAI, an artificial intelligence (AI) research and deployment company best known for ChatGPT, has announced plans for a new data center campus in Effingham County, approximately 30 miles northwest of Savannah. Dubbed Project Camellia, the data center campus will cost at least $20 billion to develop in order for OpenAI to receive incentives, according to multiple news outlets. Bloomberg reports that the San Francisco-based company plans to spend as much as $30 billion on the project. The site is located within Savannah Gateway Industrial Hub (SGIH), a master-planned industrial park by Broe Real Estate Group and OmniTRAX spanning 2,700 acres. SGIH is served by both CSX and Norfolk Southern rail lines. OpenAI has entered into a 25-year agreement with utilities provider Georgia Power Co., which will supply 3.2 gigawatts of power to the project. According to the two companies, OpenAI will pay all infrastructure and electric-service costs for the data center campus. Additionally, OpenAI has pledged to provide $80 million in community benefits over the life of the project, as well as $71 million in Codex credits for eligible Georgia students. (Codex is OpenAI’s agentic coding tool that assists in building software and technical projects.) OpenAI also reports …

July 23, 2026

Industrial Loans Maryland Southeast

JLL Secures $621M Refinancing of Maryland Industrial Portfolio for Merritt Properties

by John Nelson July 22, 2026

BALTIMORE — JLL has secured a $621 million loan for the refinancing of a 58-property, 6.3 million-square-foot industrial portfolio in Maryland owned by Merritt Properties, a Baltimore-based industrial developer and operator. Pete Pittroff, Anthony Fertitta, Travis Anderson, Evan Parker and Christopher Pratt of JLL arranged the seven-year balance sheet loan through M&T Bank on behalf of Merritt Properties. The portfolio comprises light industrial buildings in the Baltimore-Washington Corridor, northwest Baltimore, I-95 Corridor and Hagerstown.

July 22, 2026

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