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Second Horizon Capital Purchases 710,000 SF Retail Center in Melbourne, Florida

Abby Cox — Fri, 29 May 2026 13:16:43 +0000

MELBOURNE, FLA. — Second Horizon Capital has acquired Melbourne Square, a 710,000-square-foot retail center in Melbourne, a city on Florida’s Space Coast. A joint venture between Neuberger Berman and Cross Ocean Partners arranged the sale. According to the Orlando Business Journal, the shopping center sold for $56.3 million on March 2. Second Horizon Capital has implemented a capital improvement program, which will comprise supporting community engagement, center operations, building upgrades and expanding programming and partnerships with local organizations and businesses. CBRE will handle leasing and property management at the center. Tenants at Melbourne Square include American Eagle, ALMA Med Spa, Aleena Diamonds, Bath & Body Works, Candle Cart, Dick’s Sporting Goods, Dillard’s, EoS Fitness, Foot Locker, Hollister, Macy’s and Pandora, among others.

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IPA Arranges $27M Acquisition Loan for Apartment Community in D.C’s NoMa District

Abby Cox — Fri, 29 May 2026 13:15:13 +0000

WASHINGTON, D.C. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $27 million in financing for the acquisition of The Pinnacle, a newly constructed, 115-unit luxury apartment complex located in the NoMa district of Washington, D.C. Max Hulsh of IPA arranged the loan through Prime Finance on behalf of the borrower, New York City-based July Residential Group, a multifamily investment and management firm. IPA also arranged an undisclosed amount of joint venture equity for the acquisition through an unnamed capital partner. The Pinnacle offers studios and one- to four-bedroom apartments ranging in size from 398 to 1,779 square feet. Amenities include a fitness center, clubhouse, lounge, business center and a rooftop terrace, as well as bike storage and concierge services, according to Apartments.com. Monthly rental rates begin at $1,700.

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Cushman & Wakefield | Thalhimer Negotiates $9.1M Sale of Charlottesville Retail Property Leased to Wawa

Abby Cox — Fri, 29 May 2026 13:13:51 +0000

CHARLOTTESVILLE, VA. — Cushman & Wakefield | Thalhimer has negotiated the $9.1 million ground lease sale of a single-tenant retail property located in Charlottesville. Wawa occupies the building on a 20-year ground lease, which is situated at the entrance of 5th Street Station, a 400,000-square-foot, Wegmans-anchored power retail center. Catharine Spangler of Thalhimer’s Capital Markets Group brokered the transaction. The buyer and seller requested anonymity.

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Woodmont, Butters Group Secure 129,000 SF Industrial Lease with Aerospace Company in Jupiter, Florida

Abby Cox — Fri, 29 May 2026 13:12:21 +0000

JUPITER, FLA. — Woodmont Industrial Partners, along with Butters Group, has secured a 129,000-square-foot industrial lease at Corporate Logistics Center, a 252,848-square-foot industrial facility located at 15791 Corporate Circle in Jupiter. Alaris Aerospace Systems, a global aftermarket aircraft parts distributor and asset manager, is relocating from nearby Pompano Beach and will occupy the space on a seven-year lease. Yuri Quispe and Peter Johnson of JLL represented the landlord in the transaction, while Lee Johnson of Florida Real Estate Growth Services represented the tenant. Additional tenants at the facility include Cyient Defense Services, Element Materials and PSI Manufacturing Operations. Corporate Logistics Center features 36-foot clear heights, 48 dock doors and ample car and trailer parking. The property also offers proximity to Palm Beach International Airport and the Port of Palm Beach.

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JBG Smith Begins Office-to-Residential Conversion Project in Metro D.C.

John Nelson — Thu, 28 May 2026 14:45:20 +0000

ARLINGTON, VA. — JBG Smith and general contractor Davis Construction have begun the conversion of 2200 Crystal Drive, an 11-story office building in Arlington spanning 315,000 square feet. Built in 1968 and renovated in 2006, the office building is situated in National Landing, a neighborhood in metropolitan Washington, D.C., that is anchored by Amazon’s HQ2 office. JBG Smith, along with joint venture equity partner Declaration Partners, is repositioning the office building into a 195-unit multifamily community. BNY is providing an undisclosed amount of construction financing for the project. JBG Smith recently sold an adjacent office building, 2100 Crystal Drive, that is being converted to a dual-brand hotel. Additionally, the Arlington County Board recently approved JBG Smith’s conversion of two more office buildings, 1800 and 1901 South Bell Street, into more than 300 residential units.

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Portman to Bring 30,000 SF Food Hall to Savona Mill Redevelopment in Charlotte

John Nelson — Thu, 28 May 2026 14:28:36 +0000

CHARLOTTE, N.C. — Portman has announced plans for Savona Food Works, a 30,000-square-foot food hall that will anchor the company’s Savona Mill adaptive reuse project in Charlotte’s West End district. Veteran food hall operator Robert Montwaid will lead the dining installation, which will offer 25 food stalls, a full-service restaurant and bar, coffee shop, flower market and rooftop bar. Montwaid’s previous ventures include leading Gansevoort Market in New York City’s Meatpacking District and Chattahoochee Food Works in Atlanta’s West Midtown neighborhood. Savona Food Works will be situated in the “Weave building,” which dates back to the 1900s, and will debut in 2027. Other components of the 27-acre mixed-use district include 200,000 square feet of creative office space and 319 apartments, with more multifamily units expected in the next phase of development. Savona Mill is situated adjacent to the Stewart Creek Greenway, a pedestrian trail that connects to the LYNX Light Rail and Blue Line Rail Trail.

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Cronheim Hotel Capital Arranges $50.4M Financing for Two Hotels on Amelia Island in Florida

John Nelson — Thu, 28 May 2026 14:27:11 +0000

AMELIA ISLAND, FLA. — Cronheim Hotel Capital has arranged two loans totaling $50.4 million for two hotels on Amelia Island, an island off the coast of northeast Florida. The deals include a $29.9 million loan for the refinancing and conversion of Ocean Coast Hotel to a Holiday Inn Resort and a $20.5 million loan for the refinancing of Amelia Hotel, an independent beachfront hotel. Cronheim Hotel Capital originated both loans with a regional bank and each include USDA and PACE components. The co-sponsors are Innisfree Hotels and RREAF Holdings.

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Marcus & Millichap Brokers Sale of Restaurant in Buford, Georgia Leased to Whataburger

John Nelson — Thu, 28 May 2026 14:23:48 +0000

BUFORD, GA. — The Taylor McMinn Retail Group of Marcus & Millichap has brokered the sale of a restaurant in Buford, a northeast suburb of Atlanta in Gwinnett County. Whataburger occupies the restaurant on a 15-year ground lease that features 10 percent rent increases in the initial term and extension options. The popular burger chain recently backfilled the restaurant vacated by an unnamed tenant. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group brokered the sale on behalf of the seller, a developer that is a repeat client for Whataburger. The out-of-state buyer purchased the restaurant in an all-cash 1031 exchange. “Despite challenges with the higher price point, our team sourced an all-cash, out-of-state, 1031 buyer through our national reach and buyer relationships,” says McMinn. “This is our fifth Whataburger sale in Atlanta, and we have additional Atlanta product for sale.”

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Utilities, Infrastructure Can Make or Break the Next Cycle of Industrial Development, Say InterFace Panelists

John Nelson — Thu, 28 May 2026 12:00:00 +0000

CHARLOTTE, N.C. — The U.S. industrial real estate sector has been on a long rebound from the supply wave following the COVID-19 pandemic. Approximately 2.5 billion square feet of industrial space was delivered between 2020 and 2025, according to data from Cushman & Wakefield. In the Southeast, deliveries were especially pronounced, most notably in the high-growth I-85 industrial corridor that spans from Montgomery, Ala., to south Richmond, Va. The 666-mile interstates traverses through Atlanta, Greenville-Spartanburg, Charlotte, the Piedmont Triad (Greensboro, High Point and Winston-Salem) and Raleigh-Durham. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Gregg Healy, executive vice president and head of industrial services at Savills, says that since the beginning of 2022, nearly 250 million square feet of industrial space has been delivered along the I-85 corridor, which has taken longer to be absorbed than anticipated. “We were oversupplied, not just in the I-85 corridor, but nationally, because of the post-COVID boom when everyone was developing,” says Healy. “But vacancy rates did drop in the first quarter of 2026 for the first time in three…

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Colliers Brokers $140M Sale of Industrial Facility in Cookeville, Tennessee

John Nelson — Wed, 27 May 2026 13:51:03 +0000

COOKEVILLE, TENN. — Colliers has brokered the $140 million sale of a 1.6 million-square-foot industrial facility located at 4500 Academy Road in Cookeville, about 75 miles east of Nashville via I-40. The name of the tenant was not disclosed, but the property was developed in 2015 as a build-to-suit for Academy Sports + Outdoors, which services 84 stores across 14 states from the fulfillment center. Tratt Properties acquired the property from Middleton Partners. Ken Hedrick, Andrew Ragsdale, Phillip Butts, Jonathan Ameen, Will Smith and Spencer Smith of Colliers represented both the buyer and seller during the transaction.

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American Landmark Acquires 400-Unit Apartment Community in Buford, Georgia

John Nelson — Wed, 27 May 2026 13:49:37 +0000

BUFORD, GA. — American Landmark Apartments has acquired Preserve at Mill Creek, a 400-unit multifamily community located at 1400 Mall of Georgia Blvd. in Buford, a northeast suburb of Atlanta. The seller and sales price were not disclosed. Built in 2001, Preserve at Mill Creek is situated near the Mall of Georgia, I-85 and Ga. Highway 20. The property features one-, two- and three-bedroom apartments, as well as a swimming pool, fitness center, courtyard and a clubhouse. The acquisition grows American Landmark’s metro Atlanta portfolio to nine properties.

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SRS Arranges $11.1M Sale of Retail Property in Jacksonville

John Nelson — Wed, 27 May 2026 13:46:21 +0000

JACKSONVILLE, FLA. — SRS Real Estate Partners has arranged the $11.1 million sale of Shops at Race Track, a nearly 17,000-square-foot retail center located at 4560 Race Track Road in Jacksonville. Situated on 2.4 acres within the Durbin Park master-planned community, the property was fully leased at the time of sale to six tenants including Heartland Dental, Dep Nails and Avecina Medical. Patrick Nutt and William Wamble of SRS represented the seller, a national real estate development and investment firm, in the transaction. Sean McGill of Cantrell & Morgan represented the buyer, a private investment firm with offices in New York and Jacksonville. Both parties requested anonymity.

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Matthews Negotiates Sale of 10,031 SF Retail Center in Clarksville, Tennessee

John Nelson — Wed, 27 May 2026 13:42:24 +0000

CLARKSVILLE, TENN. — Matthews has negotiated the sale of Shops of Wilma Rudolph, a 10,031-square-foot, unanchored retail center located at 3031 Wilma Rudolph Blvd. in Clarksville, about 46 miles northwest of Nashville via I-24. A private investor based in north Alabama purchased the center from the seller, a development firm based in Tennessee, in a 1031 exchange for more than $5 million. Both parties requested anonymity. Hutt Cooke and Robert Tate of Matthews represented the seller in the transaction. Shops of Wilma was fully leased at the time of sale to Sleep Number, FedEx Office and a U.S. Army Recruiting Station, all of which operate on triple-net leases.

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Bain Capital, 11North Acquire Five Open-Air Retail Centers Across Four States for $300M

Kristin Harlow — Wed, 27 May 2026 12:00:00 +0000

BOSTON AND NEW YORK CITY — A joint venture between Bain Capital and 11North Partners has acquired five open-air retail centers for approximately $300 million. The properties total roughly 757,000 square feet and are located in Carlsbad, Calif.; Falls Church, Va.; Altamonte Springs, Fla.; and Sugar Land, Texas. The seller was not disclosed. Anchor tenants of the portfolio include Harris Teeter, Trader Joe’s, Walmart, Costco and Equinox, with sales from those anchor stores exceeding $900 per square foot. The portfolio, which was more than 93 percent occupied at the time of sale, also features a mix of food, fitness, medical, service and other necessity-based tenants. “Open-air, grocery-anchored retail continues to demonstrate some of the most compelling risk-adjusted fundamentals in the real estate landscape,” says Brian Harper, founder and managing partner of New York City-based 11North. “These assets align squarely with our strategy of building a portfolio of institutional-quality, open-air centers, anchored by best-in-class necessity and lifestyle tenants that serve as cornerstones of their communities,” adds Martha Kelley, a managing director at Boston-based Bain. The acquisition follows Bain and 11North’s recent capital raise of $1.6 billion that is dedicated to investing in open-air retail throughout the co-owned, 11North platform. Together with…

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Related Breaks Ground on $200M Multifamily Project Along St. Johns River in Jacksonville

John Nelson — Tue, 26 May 2026 14:03:36 +0000

JACKSONVILLE, FLA. — Related Group has broken ground on Southbank Residences, a $200 million multifamily project located along the St. Johns River in Jacksonville. The project represents the first new luxury high-rise development on the city’s downtown riverfront in more than a decade, according to the developer. The property will feature 395 luxury apartments across two towers — the 25-story Icon Southbank and the eight-story Manor Southbank — as well as a 4,500-square-foot waterfront restaurant, 601 structured parking spaces and a 29-slip marina. Monthly rents will begin at $2,000 for a studio apartment and more than $7,000 for a three-bedroom apartment. Amenities will include a spa and wellness center with cold plunge, steam and dry sauna, massage treatment rooms and relaxation spaces; 24-hour market; speakeasy; library; private theater; game and entertainment lounge with sports simulators; a resort-style waterfront pool and spa overlooking the St. Johns River with a pool pavilion with grilling stations and a summer kitchen; Zen garden; yoga lawn; and direct access to the 1.25-mile Southbank Riverwalk. The design-build team includes Carlos Ott, MSA Architects and ID & Design International. Related Group expects to deliver Southbank Residences in 2028 or 2029.

PNK Group Begins Construction on 1 MSF Industrial Facility in Griffin, Georgia

John Nelson — Tue, 26 May 2026 14:00:31 +0000

GRIFFIN, GA. — PNK Group has begun construction on PNK Griffin 200, a 1 million-square-foot speculative industrial facility located at 35 S. McDonough Road in Griffin, about 38 miles south of Atlanta. The property will be developed using PNK Group’s prefabricated Building Assembly Set (BAS) technology and will feature 40-foot clear heights, 194 dock doors, four drive-in doors, a 185-foot truck court, 245 trailer parking spaces and 480 car parking spaces. PNK Griffin 200 is PNK Group’s second project in the industrial park as the New York-based developer recently delivered a 306,000-square-foot build-to-suit facility for Rinnai America Corp.

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JLL Negotiates Sale of 110,780 SF Publix-Anchored Shopping Center in Fort Myers, Florida

John Nelson — Tue, 26 May 2026 13:59:11 +0000

FORT MYERS, FLA. — JLL has negotiated the sale of Daniels Crossing, a 110,780-square-foot, Publix-anchored shopping center located at 6900 Daniels Parkway in Fort Myers. Publix Super Markets Inc. purchased the recently redeveloped center from the seller, a joint venture between Forge Capital Partners and The Sembler Co. The sales price was not released. Danny Finkle and Jorge Portela of JLL represented the seller in the transaction. Daniels Crossing was fully leased at the time of sale to Publix, Quest Diagnostics, Hope Chest Hospice, Millennium Physicians Group and The UPS Store.

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TSB Realty Arranges Sale of 398-Bed Student Housing Community Near University of Kentucky

John Nelson — Tue, 26 May 2026 13:57:19 +0000

LEXINGTON, KY. — TSB Realty has arranged the sale of Campus Court, a 398-bed student housing property located near the University of Kentucky campus in Lexington. Coastal Ridge Real Estate purchased the community from an undisclosed seller. Terms of the transaction were not released. Originally constructed in 1988, Campus Court was updated in 2008 and offers 238 units in a mix of one-, two- and three-bedroom configurations. Amenities include a resort-style pool, fitness center, basketball court, dog park, tanning beds, private study rooms, a barbecue and picnic area and a TV lounge and game room. The community was 99 percent leased at the time of sale.

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Southwest Florida Industrial Market Is Primed for a Surge

John Nelson — Mon, 25 May 2026 11:45:00 +0000

When it comes to the Florida commercial real estate market, the conversation typically gravitates toward the larger metro areas. However, for those of us on the ground, it’s clear that Southwest Florida is becoming a key player in the state, particularly for industrial users. By nearly every measurable standard — population growth, job creation and infrastructure investment — Southwest Florida continues to outperform much of the United States. Industrial users and investors have taken notice, and so far in 2026, leasing activity has already outpaced all quarters in 2025. According to the latest Colliers market report, the market has absorbed 115,777 square feet of flex and industrial space in the first quarter alone, compared to fourth-quarter 2025 which saw (-189,303 square feet) of negative absorption. This is due to pent-up demand from users taking a cautious “wait-and-see” approach last year. And while the factors preventing them from making decisions in 2025 still exist, the sheer necessity of a physical presence in the area has finally outweighed the perceived risks. ‘Supply reset’ On paper, the data might give pause. Overall vacancy in Southwest Florida rose to 9.7 percent in first-quarter 2026, a sharp departure from the 7.2 percent we saw just…

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Madison Realty Capital Originates $91.8M Construction Loan for Multifamily Project in South Miami

Abby Cox — Fri, 22 May 2026 14:11:08 +0000

SOUTH MIAMI, FLA. — Madison Realty Capital has originated a $91.8 million construction loan for the development of Alta Sunset, a 314-unit apartment complex located in South Miami. Henry Bodek of Galaxy Capital arranged the financing on behalf of the borrower, Alta Developers. Situated adjacent to Larkin Community Hospital and Baptist Health South Florida, Alta Sunset will rise 10 stories and feature one- and two-bedroom apartments. Amenities at the property will include a health and wellness club, swimming pool and deck, fitness center, dedicated spa and recovery area, coworking spaces with private offices and a resident lounge, along with 5,444 square feet of ground-floor retail space.

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