Tuesday, January 27, 2026
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AcquisitionsRetailSouth CarolinaSoutheast

NAI Charleston Arranges Sale of 57,659 SF Shopping Center in Myrtle Beach, South Carolina

by John Nelson

MYRTLE BEACH, S.C. — NAI Charleston has arranged the sale of a 57,659-square-foot shopping center located at 201-233 International Drive in Myrtle Beach. Built in 2014, the center sits on 6.4 acres, according to LoopNet. Lowes Foods anchors the center, which is leased to a mix of local and national tenants. Thomas Boulware and Michael Branch of NAI Charleston represented the buyer in the transaction. Drew Parks of Coldwell Banker Commercial represented the seller. Both parties requested anonymity and the sales price was not released.

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AlabamaDevelopmentRestaurantRetailSoutheast

Partnership Begins Redevelopment of Old Cloverdale Village Retail Center in Montgomery, Alabama

by John Nelson

MONTGOMERY, ALA. — A partnership between Birmingham, Ala.-based The FiveStone Group, Bayer Ventures and New York City-based D&A Cos. is underway on the redevelopment of Old Cloverdale Village, an 11,000-square-foot retail property located in Montgomery’s Old Cloverdale District. The project team comprises CCR Architecture & Interiors, Pilgreen and Bostick Engineering Inc. and Prier Construction. The partnership also includes Fresh Hospitality and Charles Morgan. The historic Old Cloverdale Village is home to various locally owned restaurants, pubs, specialty shops and art galleries, as well as an independent arts cinema and a volunteer community theater. Southern restaurant concept Big Bad Breakfast is the first confirmed tenant at the property. Three additional suites are still available for lease. Along with the building’s restoration, the City of Montgomery and the project’s development team are collaborating on an improvement plan for existing infrastructure surrounding the property, including updated exterior lighting, landscaping and the addition of sidewalks. The redevelopment project is scheduled to be fully complete in the fourth quarter.

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DevelopmentFloridaMultifamilySoutheast

ANF Delivers First Phase of Parks at Delray Development in Delray Beach, Florida

by John Nelson

DELRAY BEACH, FLA. — ANF has delivered Phase I of Parks at Delray, a 43-acre mixed-use development located at 2100 S. Congress Ave. in Delray Beach. ANF worked on behalf of the ownership group, which comprises 13th Floor Investments, Key International, CDS International Holdings and Wexford Capital. The first phase of Parks at Delray, which ANF topped out in September 2023, includes 420 one-, two- and three-bedroom apartments ranging in size from 580 to 1,400 square feet, as well as three-bedroom townhomes ranging in size from 1,670 to 1,770 square feet. Designed by MSA Architects, the community’s resort-style amenities include a clubhouse, fitness center, pool, social lounge and green spaces. When fully built out, Parks at Delray will feature 747 multifamily units, approximately 10 percent of which will be designated as workforce housing.

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DevelopmentIndustrialSoutheastTennessee

CRG Breaks Ground on 520,000 SF Industrial Facility in Lebanon, Tennessee

by John Nelson

LEBANON, TENN. — CRG has broken ground on the first building within The Cubes at Sparta Pike, a 198-acre industrial park in Lebanon. Known as Building B, the new 520,000-square-foot facility will be the first of four buildings at the park and will feature 40-foot clear heights, staging bays with grade-level doors, deep truck courts, trailer storage, car parking, ESFR sprinklers and high-efficiency LED lighting. The Cubes at Sparta Pike is situated within a mile of I-40 and roughly 24 miles from the Nashville International Airport and will accommodate up to 2.8 million square feet of Class A industrial space. CRG has retained Jim Rodrigues and John Zeffery of Lee & Associates’ Nashville office to market and lease the development. The project team includes CRG’s parent company, Clayco, as the design-builder and Lamar Johnson Collaborative as the project architect. Construction at Building B is expected to be completed in early 2026.

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AcquisitionsMultifamilySouth CarolinaSoutheast

URS Capital Acquires Palms at Edgewater Apartments in Summerville, South Carolina for $58.5M

by John Nelson

SUMMERVILLE, S.C. — URS Capital Partners has acquired The Palms at Edgewater, a 288-unit apartment community in the Charleston suburb of Summerville, for $58.5 million. The seller was not disclosed. The Huntington, N.Y.-based buyer financed the acquisition with a five-year, fixed-rate agency loan. Built in 2023, Palms at Edgewater features a mix of one-, two- and three-bedroom apartments ranging in size from 778 to 1,200 square feet, according to Apartments.com. Amenities include a pool, fitness center, playground, game room, business center, car wash area and a pickleball court.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

National CORE to Develop 144-Unit Affordable Seniors Housing Community in Fort Myers, Florida

by John Nelson

FORT MYERS, FLA. — National CORE has announced plans to develop Oak Park Senior Living, an affordable seniors housing project in Fort Myers. Upon completion, the four-story community will feature 144 apartment units for residents age 62 and older earning between 30 and 65 percent of the area median income. Residences will include 124 one-bedroom apartments and 20 two-bedroom apartments. Amenities will include a community room, cybercafe, swimming pool, fitness room, community garden and a pickleball court. Residents will have access to computer training, daily activities and free assistance with light housekeeping, grocery shopping and laundry through AGPM, National CORE’s property management partner. KeyBank Community Development Lending and Investment has provided $16 million in low-income housing tax credit (LIHTC) equity. KeyBank’s Commercial Mortgage Group privately placed $22 million in tax exempt bonds for the construction and originated a $7.4 million Freddie Mac Forward commitment for permanent financing, which will be funded upon stabilization of the community. Florida Housing Finance Corp. has committed $22 million to the project in the form of a Multifamily Mortgage Revenue Note, as well as $9.5 million from the Rental Recovery Loan Program, $1.2 million of Extremely Low-Income funding and $1.9 million in 4 percent LIHTC …

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DevelopmentHospitalitySoutheastVirginia

KARA Hospitality Opens 92-Room Extended Stay America Hotel in Charlottesville, Virginia

by John Nelson

CHARLOTTESVILLE, VA. — KARA Hospitality has opened Extended Stay America Premier Suites – Charlottesville, a 92-room, four-story hotel in Charlottesville. The hotel features free Wi-Fi, complimentary breakfast, cable TV, a 24-hour fitness room, onsite guest laundry and a lobby with additional vending options. All suites include fully equipped kitchens with full-size refrigerators, microwaves, stovetops, cookware, utensils and dishes, as well as recliners and work areas.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Mill Creek Begins Leasing 239-Unit Modera Liberty Row Apartments in Charlotte

by John Nelson

CHARLOTTE, N.C. — Mill Creek Residential has begun leasing Modera Liberty Row, a 239-unit apartment community located at 7740 Liberty Row Drive in Charlotte’s SouthPark neighborhood. The community will offer studio, one-, two- and three-bedroom options averaging 1,100 square feet in size. Monthly rental rates at Modera Liberty Row range from $1,950 to $4,500, according to the property website. Amenities will include a resort-style pool, fitness center with a yoga studio, four elevated courtyards, multiple clubrooms, game room, golf simulator lounge, bocce ball courts, coworking spaces, private offices, pet spa, bicycle storage, 24/7 self-serve package room and secured parking garages with EV charging stations. The two-building property is located on The Loop, a three-mile urban trail, and within close proximity to Piedmont Town Center, Phillips Place and SouthPark Mall. Mill Creek anticipates first move-ins at Modera Liberty Row in June.

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AcquisitionsFloridaGeorgiaNorth CarolinaRetailSoutheast

Marcus & Millichap Facilitates 10-Property Portfolio Sale of Dollar General-Leased Stores in the Southeast

by John Nelson

ATLANTA — The Taylor McMinn Retail Group of Marcus & Millichap in Atlanta has brokered the sale of a 10-store portfolio in North Carolina, Georgia and Florida. Each store is triple-net leased to Dollar General for an average lease term of 13 years remaining. The undisclosed seller was an institution and the buyers were all individual private investors who paid an average of 97 percent of list price, according to Don McMinn of the Taylor McMinn Retail Group. “This portfolio sale showcases our team’s ability to achieve above-market pricing by leveraging our track record, network and platform in spite of challenging market conditions,” says McMinn.

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AcquisitionsNorth CarolinaOfficeSoutheast

CBRE Arranges Sale of 425,300 SF Office Building in Uptown Charlotte

by John Nelson

CHARLOTTE, N.C. — CBRE has arranged the sale of 525 North Tryon Street, a 425,300-square-foot office building in Uptown Charlotte. Nashville-based Highland Ventures purchased the 19-story property from New York Life Real Estate Investors for an undisclosed price. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction, and locally based Insite Properties represented the buyer. The office building was constructed in 1998 and was 46 percent leased at the time of the sale.

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