Southeast Archives - REBusinessOnline

Frampton Completes First Phase of 1.5 MSF Race Track Logistics Pompano Industrial Park in South Florida

Abby Cox — Fri, 08 May 2026 14:18:25 +0000

POMPANO BEACH, FLA. — Frampton Construction has completed the first phase of Race Track Logistics Pompano, a 1.5 million-square-foot industrial development underway in Pompano Beach. Developed by Boston-based Rockpoint Group and designed by Ware Malcomb, Phase I of the project included the vertical construction of four buildings totaling 620,738 square feet. The 87-acre site is situated within the master plan of The Pomp, a $2 billion, 223-acre mixed-use campus that is anchored by the Harrah’s Pompano Beach Casino, Topgolf. Race Track Logistics Pompano features two-story glass storefronts, specialized exterior design elements, expansive landscaping and a TPO roofing system. The LEED-certified project, which is now welcoming its first tenants, offers a mix of custom spaces and speculative office suites that support a range of logistics and distribution users. CBRE is handling leasing for the development.

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Colliers Brokers $35M Sale of Five-Property Mixed-Use Portfolio on Florida’s Space Coast

Abby Cox — Fri, 08 May 2026 14:17:24 +0000

MELBOURNE, FLA. — Colliers has brokered the $35 million sale of a five-property portfolio totaling more than 294,000 square feet of office, industrial, retail and medical office space in Melbourne, a city on Florida’s Space Coast. The portfolio, dubbed the Florida Space Coast Investment Portfolio, featured multiple transactions between August 2025 and April 2026. Melbourne Corporate Center, a 33,623-square-foot office building that is fully leased to aerospace engineering firm Aeronix, sold for $3.1 million. Hibiscus Professional Center, which sold for $2.5million, totals 26,300 square feet and is leased to National Drug Screening, Benezra Gynecology and Hanger Prosthetics. Imperial Plaza, a 107,000-square-foot office and retail center, sold for $12.2 million and is occupied by tenants such as the Department of State, FBI and DCAA, Stifel and Fiesta Azteca. Centre at Suntree, an 82,172-square-foot retail and medical property, sold for $12.3 million and is home to Premier Urgent Care, Moon Golf and Huntington Learning Center. Lastly, Rivercrest Professional Center, a 45,475-square-foot office and flex property, sold for $5 million and is occupied by Health First and Cape Canaveral Hospital. Joe Rossi and Scott Brenner of Colliers represented the undisclosed seller in all transactions. Max Ducharme of PMD Capital Management purchased Melbourne Corporate Center…

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Marcus & Millichap Brokers Sale of Retail Property in McDonough, Georgia Leased to Heartland Dental

Abby Cox — Fri, 08 May 2026 14:15:25 +0000

MCDONOUGH, GA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a freestanding retail property in McDonough, a southern suburb of Atlanta. Heartland Dental occupies the building, which was built in 2023, on a 10-year corporate lease that features 10 percent rent increases in the initial term and extension options. Don McMinn and Andrew Koriwchak of Taylor McMinn represented the seller, a preferred developer for Heartland Dental. The out-of-state, all-cash buyer purchased the property for an undisclosed price. Both parties requested anonymity. “Despite some challenges with the higher price point and double net lease, we sourced an all-cash 1031 exchange buyer through our national platform and buyer network,” says McMinn. “This deal is further evidence of the expanding 1031 buyer pool pursuing quality net lease assets in strong markets like Atlanta.”

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U.S. Economy Adds 115,000 Jobs in April, Doubling Expectations from Economists

John Nelson — Fri, 08 May 2026 12:06:00 +0000

WASHINGTON, D.C. — The U.S. economy added 115,000 nonfarm payroll jobs in April, according to the U.S. Bureau of Labor Statistics (BLS). The gains in April more than doubled expectations from Dow Jones economists, which CNBC reports forecasted 55,000 new jobs. The U.S. unemployment rate remained unchanged from March at 4.3 percent. Among employment sectors, healthcare saw the biggest jump, adding 37,000 jobs in April. This is on par with its 12-month average monthly gain of 32,000. Within the healthcare segment, job growth occurred most in nursing and residential care (15,000) and home healthcare services (11,000). Other sectors that experienced growth last month include retail trade (22,000) and social assistance (17,000). On the flip side, the federal government continues to shed jobs as the U.S. government cut 9,000 positions last month. Since its peak in October 2024, the federal government is down by 348,000 jobs, or 11.5 percent. Similarly, losses continue for the information sector, with 13,000 jobs lost in April. The information sector — which includes telecommunications, motion picture and sound recording, computing infrastructure, data processing and web hosting — has had employment dwindle by 342,000 jobs, or 11 percent, since reaching its apex in November 2022. The BLS…

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Continental Realty Acquires 14-Property Shopping Center Portfolio in Southeast, Midwest

John Nelson — Thu, 07 May 2026 14:22:08 +0000

BALTIMORE AND HILLARD, OHIO — Continental Realty Corp. has purchased a 14-property shopping center portfolio spread across seven states in the Southeast and Midwest. The Baltimore-based firm purchased the more than 2 million-square-foot portfolio from Hillard-based US Properties Group Inc. for an undisclosed price. Chris Decoufle and Kevin Hurley of CBRE represented the seller in the off-market transaction. The acquisition grows Continental Realty’s holdings to nearly $5 billion in assets under management and expands its geographic footprint to 16 states, including its entry into Ohio. The portfolio was 93 percent leased at the time of sale to more than 230 tenants, including anchors such as Kroger and Academy Sports + Outdoors. The assets in the portfolio include:

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Crescent, Stockbridge Capital Break Ground on 277-Unit Apartment Development in West Nashville

John Nelson — Thu, 07 May 2026 14:17:41 +0000

NASHVILLE, TENN. — Crescent Communities has broken ground on NOVEL Richland Creek, a 277-unit multifamily development located in west Nashville. The Charlotte-based firm is co-developing the community with San Francisco-based Stockbridge Capital Group, which owns the adjacent Lion’s Head Village, a shopping center anchored by Trader Joe’s. Designed by KTGY, NOVEL Richland Creek will feature studio, one-, two- and three-bedroom apartments, as well as 4,800 square feet of retail space and direct trailhead access to the Richland Creek Greenway. Amenities will include a lobby with a café and wine bar, maker and wellness spaces, coworking and book club room areas, a rooftop pool and indoor and outdoor gathering spaces. The design-build team includes ESG (interior design), EM Structural (structural engineer), Lighthouse Engineering (MEP engineer), Barge Civil Associates (civil engineer) and Hawkins Partners (landscape architect). J.P. Morgan provided an undisclosed amount of construction financing to Crescent and Stockbridge Capital.

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Walker & Dunlop Arranges $79M Refinancing for Multifamily Property in Florida Panhandle

John Nelson — Thu, 07 May 2026 14:15:12 +0000

SANTA ROSA BEACH, FLA. — Walker & Dunlop has arranged a $79 million loan for the refinancing of The Jewel at Santa Rosa Beach, a Class A, 408-unit apartment community in Florida’s Panhandle region. Jeremy Pino, Livingston Hessam, Carl Passmore, Kyle Miller, Keith Melton and David Strange of Walker & Dunlop arranged the interest-only, nonrecourse bridge loan through an institutional debt fund on behalf of the borrower, Bristol Development Group. Located at 158 Malachite Way, The Jewel sits along US Highway 98 and three miles north of the popular 30A corridor. The property features one-, two- and three-bedroom townhome-style residences, as well as a clubhouse, fitness center, two swimming pools, coworking space, golf lounge and a dog park and spa.

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Newmark Brokers $28M Sale of Office Building in Herndon, Virginia

John Nelson — Thu, 07 May 2026 14:02:53 +0000

HERNDON, VA. — Newmark has brokered the approximately $28 million sale of Monument III, a nearly 200,000-square-foot office building located in Herndon, a city in Northern Virginia’s Dulles Technology Corridor. New York City-based Crown Properties purchased the building from Santander Bank. Jud Ryan, James Cassidy and Grant Marley of Newmark represented the seller in the transaction. Joe Donato and Andrew Asbill, also with Newmark, secured acquisition financing for Crown Properties. The buyer has tapped Andy Klaff, Stephen Hoffeditz, Dominic Orcino, Debbie Cross and Wes Evans of Newmark to oversee leasing efforts at Monument III. Upon closing of the sale, the Newmark team extended a 58,977-square-foot lease with anchor tenant Serco Inc. Crown Properties plans to invest in capital improvements at the property, including a new fitness center with locker rooms and showers, a new golf simulator and upgrades to the lounge and café.

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Centennial Sells 1.6 MSF Annapolis Mall to Macerich for $272M

Hayden Spiess — Thu, 07 May 2026 11:10:00 +0000

ANNAPOLIS, MD. — Centennial, along with investment partners Kildare Partners and Atlas Hill Real Estate, has sold Annapolis Mall. Macerich (NYSE: MAC) acquired the 1.6 million-square-foot retail center for $260 million. The Santa Monica, Calif.-based REIT also purchased an adjacent, vacant parcel that was formerly occupied by Sears for an additional $12 million. Centennial acquired Annapolis Mall, which is located roughly 30 miles east of Washington, D.C., in September 2024. Unibail-Rodamco-Westfield (URW) previously owned the property and reported the 2024 sales price as $160 million. Originally opened in 1980, the mall comprises approximately 200 shops and restaurants. During Centennial’s ownership, more than 500,000 square feet of new leases and lease renewals were executed. New tenants at the property include Dick’s House of Sport, UNIQLO, Offline by Aerie, Tesla, Swarovski, Jack & Jones, Abercrombie & Fitch and Dave & Buster’s. Existing tenants Talbots and lululemon also expanded their footprint at the mall following Centennial’s acquisition. According to Macerich, 353,000 square feet of signed-not-open (SNO) leases are expected to commence throughout the remainder of 2026 and 2027. Macerich funded the acquisition with cash on hand and $150 million from its revolving line of credit. The acquisition excluded a space occupied by anchor store Macy’s, which…

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Newmark Negotiates $64M Sale of Apartment Community in Huntsville

John Nelson — Wed, 06 May 2026 14:23:39 +0000

HUNTSVILLE, ALA. — Newmark has negotiated the $64 million sale of The Liam at Hays Farm, a 329-unit apartment property located within the 850-acre Hays Farm master-planned community in south Huntsville. Greystone purchased the property from a joint venture between Bomasada Group and an affiliate of The Wolff Co. Justin Uffinger and Sarah Nee of Newmark represented the seller in the transaction. Built in 2024, The Liam at Hays Farm features one-, two- and three-bedroom apartments, as well as a resort-style swimming pool, Zen courtyard with a fireside lounge and a modern fitness center. The sale is the largest multifamily deal in the Huntsville market since 2023, according to Newmark.

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Colliers Brokers Sale of 483-Unit Apartment Community in Greensboro, North Carolina

John Nelson — Wed, 06 May 2026 14:22:10 +0000

GREENSBORO, N.C. — Colliers has brokered the sale of Edgewater Village, a 483-unit, garden-style apartment community located at 5500 Weslo Willow Circle in Greensboro. Will Mathews, Thomas Leachman, Chad DeFoor and Jake Bradshaw of Colliers brokered the transaction. Built in 1974, Edgewater Village sits on 45 acres and features five internal lakes. The property offers studio, one- and two-bedroom floor plans.

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Choate Construction to Relocate Atlanta Office to 57,000 SF Space at Terraces in Central Perimeter

John Nelson — Wed, 06 May 2026 14:19:16 +0000

ATLANTA — Choate Construction has signed a lease to relocate its corporate headquarters to Terraces, a 1 million-square-foot office campus in Atlanta’s Central Perimeter submarket. The locally based general contractor will move its more than 200 employees to the two-building campus in first-quarter 2027. The 57,000-square-foot lease brings Terraces to 80 percent occupancy. Brooke Dewey and Glenn Aspinwall of JLL represented the landlord, MetLife Investment Management, which manages Terraces on behalf of an undisclosed client. Jeff Heller and John Winter of Stream Realty Partners represented Choate Construction. Smallwood is providing interior design services for the tenant’s new space, as well as branding and graphic design services.

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Woodside Health Acquires 40,000 SF Medical Office Building in Chapel Hill, North Carolina

John Nelson — Wed, 06 May 2026 14:17:39 +0000

CHAPEL HILL, N.C. — Cleveland-based Woodside Health has acquired Meadowmont Crossing, a three-story, 40,000-square-foot medical office building located at 400 Meadowmont Village Circle in Chapel Hill. The seller was an affiliate of Curbline REIT doing business as CL MEADOWMONT VILLAGE NC LP. The sales price was not disclosed. Built in 2001, the property is situated off NC Highway 54 and is anchored by UNC Health, a state-owned health system that operates 16 hospitals and hundreds of clinics across North Carolina.

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Averitt to Build $200M Industrial Campus Near Charlotte Airport

John Nelson — Tue, 05 May 2026 14:30:31 +0000

CHARLOTTE, N.C. — Averitt, a transportation and supply chain management company based in Cookeville, Tenn., has announced plans to develop a regional logistics campus near Charlotte Douglas International Airport. Charlotte Business Journal reports that the freight company is investing $200 million for the 100-acre campus. The development will include two distribution centers totaling more than 500,000 square feet; a 75,000-square-foot cross-dock facility; a two-story regional office totaling 16,000 square feet; and parking for more than 400 trailers. The campus will also offer fleet maintenance, fueling and driver support facilities. The investment is expected to double Averitt’s Charlotte area workforce over the next four years and will replace its current 40,000-square-foot service center at 3708 Westinghouse Blvd. that houses 182 full-time associates. Construction on the new campus is expected to begin immediately and wrap up in 2028.

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Forbright Bank, R3 Ventures Acquire 12-Story Office Building in Chevy Chase, Maryland

John Nelson — Tue, 05 May 2026 14:28:59 +0000

CHEVY CHASE, MD. — Forbright Bank has brought in R3 Ventures in the acquisition of Chase Tower, a 12-story office building located at 4445 Willard Ave. in Chevy Chase, a Maryland suburb of Washington, D.C. Forbright Bank is the anchor tenant of Chase Tower, which has served as the bank’s headquarters since 2020. The property features 227,000 square feet of office space and 18,000 square feet of retail space, including a bank branch for Forbright Bank. The seller and sales price were not disclosed. Cushman & Wakefield represented the new ownership in the transaction, and Eastdil Secured represented the seller. In addition to co-investing in the acquisition, R3 Ventures will oversee asset management duties at the office building, including the leasing strategy and capital improvements. The new ownership has also retained JBG Smith as the property manager for the office building.

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Meridian Capital Arranges $50M Refinancing for Langston Views Apartments in D.C.

John Nelson — Tue, 05 May 2026 14:22:08 +0000

WASHINGTON, D.C. — Meridian Capital Group has arranged a $50 million bridge-to-agency loan for the refinancing of Langston Views, a 671-unit apartment complex located at 2300 Marion Barry Ave. SE in Washington, D.C. Meridian Capital arranged the financing through NewBridge Lending on behalf of the Chicago-based borrower, Clear Investment Group, which purchased the residential property from foreclosure in December 2024. Since acquisition, Clear has invested in capital improvements to Langston Views, including 24/7 onsite personnel, a fob entry system, new swimming pool and a community room. Built in 1966, the property comprises two 12-story residential towers and multiple garden-style apartment buildings. The development was 85 percent occupied at the time of financing.

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TSCG Signs Sprouts Farmers Market to Anchor Columbia Shopping Center Redevelopment Project

John Nelson — Tue, 05 May 2026 14:21:26 +0000

COLUMBIA, S.C. — TSCG has signed Sprouts Farmers Market to anchor Devine Crossing, a redevelopment project located in Columbia. The new 24,113-square-foot grocery store will occupy the former Piggly Wiggly site, which served the community for more than 50 years before closing in 2025. Locally based Cason Development acquired the 3.2-acre property last May. Alan Freeman of TSCG represented Sprouts Farmers Market in the lease negotiations. TSCG will also lease the remaining space at Devine Crossing. Along with Sprouts, Devine Crossing will include approximately 10,000 square feet of inline retail, as well as an additional 5,000 square feet of multi-tenant building space, bringing the full project to roughly 40,000 square feet of new and redeveloped retail. Sprouts Farmers Market is expected to open in 2027.

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Continuum Obtains $350M Financing for Waterfront Condo Development in South Florida

Abby Cox — Mon, 04 May 2026 13:40:23 +0000

NORTH BAY VILLAGE, FLA. — Continuum Co. has obtained $350 million in construction loans for Continuum Waterfront District, a 4-acre master-planned development located along Biscayne Bay in North Bay Village. S3 Capital provided $261 million in financing for the Continuum Club & Residences West, a condo that broke ground in 2025, according to the South Florida Business Journal. The second loan, also provided by S3 Capital, is $83 million for pre-development of the second phase, which will include a hotel and a second condo building. Continuum Co. is developing both phases in partnership with Aksoy Holding, an ownership and development firm based in Turkey. The 36-story Continuum Club & Residences West is slated for completion for July 2028 and will comprise 236 condos, which are 50 percent pre-sold, as reported by South Florida Business Journal. Phase II, which is targeted for completion in 2030, will include 300 additional luxury condominiums. The second phase also features the first Continuum hotel (a member of Preferred Hotels & Resorts), a 20-slip commercially zoned marina, waterfront dining and the “Island Walk,” an activated public green space and bayfront promenade. The project team includes West Palm Beach-based Kast Construction (general contractor), Miami-based Arquitectonica (architect) and Durukan…

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JLL Arranges $100.5M in Construction Financing for Mixed-Income Multifamily Development in Charlotte

Abby Cox — Mon, 04 May 2026 13:38:02 +0000

CHARLOTTE, N.C. — JLL Capital Markets has arranged a $100.5 million senior construction loan and equity capital for Twelve03 at Centre South, a 329-unit mixed-income multifamily development in Charlotte. Taylor Allison, Alexis Kaiser and Ryan Mueller of JLL secured construction financing through TD Bank and the equity placement from RXR Realty Investments on behalf of the borrower/developer, The Fallon Co. Situated near The Pearl, Charlotte’s first medical Innovation District, Twelve03 is the first phase of Centre South, a 16.7-acre mixed-use development. Twelve03 will comprise 263 market-rate and 66 affordable units. Amenities will include a sky lounge, rooftop saltwater swimming pool, coworking spaces, pet spa and a fitness center. Upon completion of the overall mixed-use development, the project will include 405,000 square feet office space, 36,000 square feet of retail, a 180-room hotel, a 1.5-acre green space and up to 975 apartments, with 20 percent of the Centre South’s residential units reserved as affordable housing.

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Stos Partners Acquires 169,855 SF Warehouse in Nashville for $26M

Abby Cox — Mon, 04 May 2026 13:35:44 +0000

NASHVILLE, TENN. — San Diego-based Stos Partners has acquired 640 Massman Drive, a 169,855-square-foot warehouse located in Nashville, for $26 million. The infill property was fully leased to Cumberland International Trucks at the time of sale. Todd Prevost and Jackson Pavitt of Big Tent Co. represented Stos Partners in the transaction. The seller was a private investor. Aldon Cole, Brad Vansant and Jenna Frakes of JLL arranged financing for the acquisition. 640 Massman Drive was constructed in two phases and can accommodate multiple tenants. The first phase — completed in 1970 — features 22-foot clear heights, three dock-high doors, two grade-level doors and nearly 2 acres of green space. The second phase, which was completed in 2000, was an expansion that included 30-foot clear heights, five dock-high doors and one additional grade-level door.

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