Southeast Archives - REBusinessOnline

WhiteFiber Agrees to Buy Two Industrial Facilities in North Carolina, Plans Data Center Conversions

John Nelson — Wed, 19 Aug 2026 13:42:32 +0000

YADKIN COUNTY, N.C. — WhiteFiber Inc., a data center owner-operator and cloud solutions provider, has agreed to acquire two industrial facilities in Yadkin County, situated near Winston-Salem at the foothills of the Blue Ridge Mountains. WhiteFiber is acquiring the properties via its wholly owned subsidiary Enovum Data Centers Corp. with plans to retrofit both properties into data centers. The agreed purchase price was $60 million for both sites. The two facilities, which will be renamed NC-2 and NC-3, sit approximately 55 miles from NC-1, WhiteFiber’s existing data center campus in Madison, N.C. NC-2 and NC-3 are expected to provide a combined minimum of 60 megawatts (MW) of initial gross utility capacity with the potential to support up to 200 MW of combined utility capacity over time. WhiteFiber expects to close the transaction in the fourth quarter and bring the properties on line in third-quarter 2027.

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Landmark Properties Acquires 642-Bed Student Housing Community Near University of Mississippi

John Nelson — Wed, 19 Aug 2026 13:41:25 +0000

OXFORD, MISS. — Landmark Properties has acquired The Domain at Oxford, a 642-bed student housing community located at 2002 Oxford Way near the University of Mississippi campus in Oxford. The property was acquired in partnership with Liberty Mutual Investments and Peninsula Investments. Walker & Dunlop brokered the acquisition, and TSB Capital assisted with financing. The seller and terms of the transaction were not released. Built in 2016, the community offer 216 fully furnished units in a mix of one-, two- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a clubhouse, fitness center, golf simulator, resort-style pool, recreational green space, basketball and sand volleyball courts, study rooms and a screening theater. The property also offers parking for 756 vehicles.

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Transwestern Arranges $65M Sale of Medical Outpatient Building in Downtown Jacksonville

John Nelson — Wed, 19 Aug 2026 13:39:37 +0000

JACKSONVILLE, FLA. — Transwestern has arranged the $65 million sale of Southbank Medical Pavilion, a 493,012-square-foot medical outpatient building located at 841 Prudential Drive in downtown Jacksonville. The buyer, Baptist Health, operates its flagship hospital campus adjacent to the 22-story property. Steve Leathers, Bill Boyd, Seth Gilford, Jake Jordan, Angela Heidman and Max Hastings of Transwestern represented the seller, Alpharetta, Ga.-based ShareMD, in the transaction. Situated on 7.9 acres along the south bank of the St. Johns River, Southbank Medical Pavilion was 94 percent leased at the time of sale.

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Prudent Growth Purchases Strip Retail Center in Montgomery for $3.7M

John Nelson — Wed, 19 Aug 2026 13:38:51 +0000

MONTGOMERY, ALA. — Chapel Hill, N.C.-based Prudent Growth Partners LLC has purchased Somerset Shoppes, a 27,250-square-foot strip retail center located at 7730 Atlanta Highway in Montgomery. The seller was not disclosed. Built in 2003, Somerset Shoppes was 85 percent leased at the time of sale to nine tenants, including Martha’s Place, Latitudes Salon & Spa, Body Serene Nails & Spa, J&T Acupressure and Southern Muscle & Fitness.

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PENN Entertainment to Invest $195M to Relocate Riverboat Casino in New Orleans

John Nelson — Tue, 18 Aug 2026 15:06:02 +0000

NEW ORLEANS — PENN Entertainment Inc. plans to invest approximately $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino operations to a new landside property on adjacent land, pending regulatory approval. If approved, the publicly traded gaming company will rebrand the property, which is expected to open in 2029, as Hollywood Casino New Orleans. The investment will include the build-out of roughly 140,000 square feet of new development, approximately 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. The existing riverboat will be vacated upon opening of the new property, and PENN expects to keep the existing hotel open. The investment would represent the fourth landside relocation of a riverboat casino for PENN, which expects to finance the project with cash on hand, allowing for the option to access its balance sheet or other sources of liquidity. PENN currently operates four other casino destinations in Louisiana, including L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge and Margaritaville Resort Casino and Boomtown Casino Hotel in Bossier City.

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Thompson Thrift to Develop 300-Unit Apartment Community in Chelsea, Alabama

John Nelson — Tue, 18 Aug 2026 14:53:28 +0000

CHELSEA, ALA. — Thompson Thrift plans to develop Rivet, a 300-unit apartment community in Chelsea, a suburb of Birmingham in Shelby County. The Indianapolis-based developer is capitalizing the project with equity from Thompson Thrift 2025 Multifamily Development LP. Situated on nearly 29 acres along the U.S. Highway 280 corridor, Rivet will offer a mix of one-, two- and three-bedroom apartments. Amenities will include a resort-style heated swimming pool, 24-hour fitness center, pickleball court, community grilling areas and fire pit, social hub with billiards and shuffleboard, dog park and pet spa, business center with conference rooms and an Amazon package hub. Thompson Thrift plans to deliver Rivet in late 2027.

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HH Group Acquires 212-Bed Student Housing Property Near George Washington University

John Nelson — Tue, 18 Aug 2026 14:50:02 +0000

WASHINGTON, D.C. — HH Group has acquired Varsity on K, a 212-bed student housing development located near the George Washington University campus in Washington, D.C.’s West End neighborhood. The community offers 197 fully furnished units in studio through three-bedroom configurations. Shared amenities include a fitness center, resident lounge, demonstration kitchen, business center, game lounge, package lockers, private study and meeting rooms and an outdoor courtyard with dining areas, grilling stations and a fire pit. The seller and terms of the transaction were not released. The new ownership plans to begin a comprehensive repositioning program at the property, to include rebranding the community as Haven on K; refreshed common areas; the addition of expanded amenity offerings; and common area, security and building system upgrades. The community will be managed by HH Red Stone, the company’s vertically integrated property management arm.

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Matthews Arranges Sale of 574-Unit Self-Storage Facility in Chattanooga

John Nelson — Tue, 18 Aug 2026 14:46:59 +0000

CHATTANOOGA, TENN. — Matthews has arranged the sale of a 574-unit self-storage facility located at 606 Manufacturers Road in Chattanooga’s Northshore neighborhood. Extra Space Storage manages the property, which was built in 2021 and offers 75,520 square feet of rentable climate-controlled space. Austin McLeod and Hunter Reynolds of Matthews represented the seller, an unnamed developer, in the transaction. The buyer, a private equity firm based in New York and repeat client of Matthews, purchased the property for an undisclosed price. The facility was 95 percent occupied at the time of sale.

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

Abby Cox — Mon, 17 Aug 2026 13:54:29 +0000

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

Abby Cox — Mon, 17 Aug 2026 13:52:14 +0000

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

Abby Cox — Mon, 17 Aug 2026 13:50:52 +0000

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

Abby Cox — Mon, 17 Aug 2026 13:48:40 +0000

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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Redevelopment, Reinvestment Shape Memphis Retail Sector’s Next Chapter

John Nelson — Mon, 17 Aug 2026 11:57:00 +0000

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

Abby Cox — Fri, 14 Aug 2026 14:08:42 +0000

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

Abby Cox — Fri, 14 Aug 2026 14:07:37 +0000

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

Abby Cox — Fri, 14 Aug 2026 14:06:44 +0000

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

Abby Cox — Fri, 14 Aug 2026 14:05:20 +0000

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

Abby Cox — Fri, 14 Aug 2026 11:26:00 +0000

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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Prysmian to Invest $1B for Expansion of Cable Manufacturing Facility in Metro Charlotte

John Nelson — Thu, 13 Aug 2026 14:18:41 +0000

CLAREMONT, N.C. — Prysmian North America plans to invest $1 billion to expand its cable manufacturing plant in Claremont, a northern Charlotte suburb in Catawba County. The investment will expand the company’s fiber optic and glass cable manufacturing operations and create 385 jobs. The expansion will grow Prysmian’s physical footprint at the Claremont facility by 975,000 square feet. The office of North Carolina Gov. Josh Stein has announced that a performance-based grant of $1 million from the One North Carolina Fund will be awarded to Prysmian Cables and Systems USA LLC to help the company expand in North Carolina. Civic and utility partners involved in this project include North Carolina Department of Commerce, the Economic Development Partnership of North Carolina, the North Carolina General Assembly, the North Carolina Community College System, Catawba Valley Community College, Duke Energy, Piedmont Natural Gas, Catawba County, the City of Claremont and the Catawba County Economic Development Corp. Prysmian North America is the U.S. arm of Milan, Italy-based Prysmian and has its regional headquarters in Highland Heights, Ky. Prysmian was founded in 1879 and operates more than 100 plants worldwide, including 50 locations in North America employing 9,000 associates.

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Sixth Street, Riller Capital Purchase Pier House Resort in Key West for $190M

John Nelson — Thu, 13 Aug 2026 14:17:46 +0000

KEY WEST, FLA. — Sixth Street, a global investment firm based in San Francisco, and partner Riller Capital have acquired Pier House Resort & Spa, a 142-room luxury oceanfront resort located at 1 Duval St. in Key West. Dallas-based Braemar Hotels & Resorts sold the property to the partnership for $190 million. Situated on five acres, Pier House offers two oceanfront restaurants, a full-service spa, oceanfront pool, 75 linear feet of private beach frontage and 3,000 square feet of meeting and event space. Starwood Property Trust provided acquisition financing for the deal. CBRE represented Sixth Street in the transaction, and The Plasencia Group represented Braemar.

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