GAITHERSBURG, MD. — Newmark has provided a $67.5 million agency loan for the refinancing of Rockwell at Crown, a 335-unit multifamily apartment community located in Gaithersburg, roughly 20 miles northwest of Washington, D.C. Jim Badolato, Rob Cantazano, Greg Primiano, Deric Obeldobel and Elias Sulpizio of Newmark originated the financing through Fannie Mae on behalf of the borrower, Sentinel Real Estate. Completed in 2022, Rockwell at Crown offers a mix of one-, two- and three-bedroom units, with select layouts featuring dens and built-in desks. Amenities at the property include a resort-style swimming pool with sun shelf and cabanas, fitness center, electric vehicle charging stations, coworking areas and landscaped outdoor spaces.
NORTH PORT, FLA. — Marcus & Millichap has brokered the $10.8 million sale of North Port Village, a 66,083-square-foot neighborhood retail center located at 14255 S. Tamiami Trail in North Port, roughly 35 miles south of Sarasota, Fla. Planet Fitness anchors the property, which was fully leased at the time of sale. Additional tenants include Humana, NAPA Auto Parts and Do The Beach adventure park. North Port Village was originally built in 1989 on nearly 11 acres. Clayton Brown, Luke Holsinger and Ruthanne Loar of Marcus & Millichap’s Seattle office procured the buyer, a Seattle-based private investor, in the transaction. Drew Kristol and Kirk Olson, also with Marcus & Millichap, represented the seller, a South Florida-based real estate investment firm.
HANAHAN, S.C. — Charlotte-based real estate investment firms Port Commercial and Cedar Square have acquired 916 Commerce Circle, an 80,000-square-foot industrial facility in Hanahan, approximately eight miles outside North Charleston. Lee Allen, Kevin Coats and Tyler Smith of JLL will lead leasing efforts on behalf of the new ownership. The seller and sales price were not disclosed. The rail-served property spans 4.1 acres and features a fully air-conditioned industrial building with 1,600 square feet of office space, eight dock positions with levelers, three 14-foot drive-in doors, epoxy flooring, LED lighting and outdoor storage capabilities. 916 Commerce Circle also provides access to the Wando Welch, Hugh K. Leatherman and North Charleston port terminals in greater Charleston. Port Commercial and Cedar Square plan to launch a capital improvement program for the property that includes refreshed office interiors, new exterior painting, dock upgrades and parking lot resealing.
CHARLESTON, S.C. — Woodfield Development has opened Cooper River Farms II, the second phase of the 56-acre Cooper River Farms apartment community located in Charleston. The new four-story building adds 71 studio, one- and two-bedroom residences. Amenities at the property include a fourth-floor sky lounge, community bar, TVs and a pool table. The second phase builds on the existing Cooper River Farms community, which features a saltwater swimming pool, fitness center, nature trails and a dog park. Construction on the development began in May 2024, and the first apartments were delivered in July 2025. The building is currently 50 percent occupied.
CUMMING, GA. — JLL has signed four new tenants to join The Collection at Forsyth, a 565,000-square-foot, open-air mixed-use lifestyle center located in Cumming, a northern suburb of Atlanta. Build-A-Bear Workshop is already open at the property, while Rocket Fizz Soda Pop & Candy Shop is set to open by Halloween. Pickleball membership club The Picklr is scheduled to open in November. Meanwhile, children’s interactive play concept Giggle Town recently signed a 7,118-square-foot lease to open its own space at the center. Existing tenant Dermani Medspa has relocated to a larger 3,142-square-foot space at the center while Dental Town, a pediatric dentist, also plans to expand its footprint at the property. Sherri Wilson of JLL led leasing negotiations on behalf of the landlord, CTO Realty Growth Inc. Situated at the intersection of Ga. Highway 400 and Peachtree Parkway, The Collection at Forsyth features a variety of national and local retailers, restaurants and a movie theater, including Academy Sports + Outdoors, Barnes & Noble, Victoria’s Secret, AMC Theatres, J. Crew Factory, Pandora and Sephora. JLL has handled leasing and repositioning at the property since 2023.
AcquisitionsContent PartnerDevelopmentFeaturesIndustrialLeasing ActivityLee & AssociatesMidwestMixed-UseMultifamilyNortheastOfficeRetailSoutheastTexasWestern
Lee & Associates’ Report: Q3 Results Shaped by Market Uncertainty, Questions of Legality, Tariffs, AI Considerations
Lee & Associates’ 2025 Q3 North America Market Report examines a commercial real estate landscape experiencing some pauses as the effects of exogenous forces work their way through the market. Economic and legal questions, the second- and third-order effects of tariffs, persistently high costs, unemployment concerns and the new realities of artificial intelligence (AI) have combined to produce mixed results across all property types. Demand for office and retail has increased (and their respective pipelines remain constrained). Of the four property types covered in the report — industrial, office, retail and multifamily — only retail saw transaction momentum in the previous quarter. Meanwhile, the overbuilt industrial and multifamily sectors have witnessed weakening or negative demand in the third quarter. Lee & Associates’ full, detailed market report is available to read here. The overviews for the sectors below reveal a market that seems to be holding its breath, awaiting new information. Industrial Overview: Markets Await Tariff Clarity Net absorption of industrial space increased in the third quarter across North America, but demand was weak and failed again to keep pace with the supply of new buildings, while tenant growth remained hobbled by tariff concerns and interest rates. In the United States, following 8.1 million square feet …
ATHENS, GA. AND BATON ROUGE, LA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of a two-property student housing portfolio totaling 1,188 beds in Georgia and Louisiana. The transaction included The Lodge of Athens, a 480-bed property serving students attending the University of Georgia; and Wildwood Baton Rouge, a 708-bed community located near Louisiana State University. Peter Katz of IPA — in association with Steve Greer and John Leonard of Marcus & Millichap — represented the seller, a joint venture between Alden Street Capital and an undisclosed institutional partner, and procured the buyer, Pumphouse Residential Group, in the transaction.
TAMPA, FLA. — Related Urban, the affordable housing division of Related Group, has broken ground on Residences at East End, a 174-unit affordable housing community located at 5709 N. 47th St. in Tampa. Public partners City of Tampa and Tampa Housing Authority (THA) joined Related Urban at the groundbreaking ceremony held Wednesday, Oct. 22. Situated on Tampa’s east side, Residences at East End will be funded through Section 8 project-based vouchers and low-income housing tax credits (LIHTC), with funding sources including Fifth Third Bank and Raymond James. The project represents a total capital investment of $68.6 million. The community will offer two-bedroom apartments reserved for households earning 22 percent to 80 percent of the area median income (AMI). Amenities will include a standalone clubhouse, dog park, picnic areas, a pocket park and a fitness center. Construction is expected to be completed by the end of 2026.
CAPE CORAL, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $14 million loan for the refinancing of a 1,016-unit self-storage facility located at 1111 S.W. Pine Island Road in Cape Coral, a southwest Florida city near Naples. Operated by CubeSmart, the 137,900-square-foot property features a wide range of climate-controlled units and moving supplies for tenants. Doug Brooks of MMCC arranged the loan through an unnamed local bank on behalf of the borrower, Island Estate Group, a real estate investment company that operates in Florida, New York, Georgia and South Carolina. The five-year loan was underwritten with a 25-year amortization schedule, 60 percent loan-to-value ratio and 18 months of interest-only payments.
CHESAPEAKE, VA. — Chapel Hill, N.C.-based Prudent Growth Partners has acquired Castle Shops, a 37,309-square-foot retail strip center located in Chesapeake, for $5.4 million. Dollar Tree anchors the two-building property, which was fully leased at the time of sale. Additional tenants include CHKD Thrift Store, Boost Mobile and Liberty Tax. Jeff Fritz and Jay O’Donnell of Colliers represented the seller in the transaction. George Fox, also with Colliers, served as the leasing agent at Castle Shops.
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