Southeast

LS GreenLink Closes on Land Acquisition in Chesapeake, Virginia for New $681M Power Cable Manufacturing Facility

by John Nelson April 1, 2025

CHESAPEAKE, VA. — LS GreenLink USA Inc., a subsidiary of LS Cable & System Ltd., has closed on the purchase of 96.6 acres in the Hampton Roads city of Chesapeake. Situated along the Elizabeth River near the Port of Virginia, the site will house a new submarine power cable manufacturing facility spanning 750,000 square feet and a 660-foot VCV (vertical continuous vulcanization) tower that is expected to be the tallest structure in the state upon completion. LS GreenLink plans for the new facility to involve more than $681 million in investment and to be fully operational by early 2028. The company will manufacture insulated power cables at the facility that will be used to connect offshore wind farms, such as the Coastal Virginia Offshore Wind (CVOW) project underway off the coast of nearby Virginia Beach. Construction on the new manufacturing facility, which was announced last year, will take place this month. LS GreenLink plans to use roughly half of the newly acquired site for the manufacturing facility and VCV tower, reserving the remaining land for future phases of development. Woods Rogers Vandeventer Black PLC and JLL represented the seller, International Bio-Energy Virginia Real Estate LLC, in the land sale. K&L …

April 1, 2025

Florida Leasing Activity Office Southeast

Foot Locker Moves Corporate Headquarters to St. Petersburg, Florida

by John Nelson April 1, 2025

ST. PETERSBURG, FLA. — Footwear and apparel retail giant Foot Locker Inc. has officially moved its corporate headquarters from New York City to the Tampa Bay city of St. Petersburg. The Feil Organization has signed the retailer to a 110,998-square-foot office lease at 570 Carillon Parkway, a Class A office building within Carillon Business Park. Feil recently renovated the office building’s lobby and common areas. Amenities at the five-story, 250,000-square-foot office building include a café and a fitness center. Lee Winter and Caleb Lewis of JLL represented Foot Locker in the lease negotiations. Barry Hanerfeld and Molly Molloy Catlett of CBRE represented Feil alongside in-house representative Andrew Wiener.

April 1, 2025

Development Mixed-Use Southeast Tennessee

Ridgeline, Deep Cove to Begin Construction on Bend at Capitol District Mixed-Use Project in Nashville

by John Nelson April 1, 2025

NASHVILLE, TENN. — A partnership between Chicago-based co-developers Ridgeline Development Partners and Deep Cove Partners plans to break ground this month on The Bend at Capitol District, a mixed-use development that will span nearly 550,000 square feet in Nashville. The nearly three-acre project is the second phase expansion of the TownePlace Suites at North Capitol development that was completed in 2020. The Bend will comprise an eight-story, 188-room Moxy Capitol District hotel; 17,000 square feet of shops and restaurants within an interconnected paseo; and a 10-story residential building that will house both The Delle at The Bend-Apartments by Marriott Bonvoy (128 extended stay units) and The Residences at The Bend (133 apartments). The Bend’s design-build team includes Nashville-based Smith Gee Studio (architect), New York-based S9 Architecture (architect), Skanska USA (general contractor), RaganSmith Associates (engineer), Power Management Corp. (engineer), JLL (project manager) and The Gettys Group (interior designer).

April 1, 2025

Development Florida Industrial Southeast

Miller Construction Breaks Ground on 112,000 SF Warehouse in Orlando

by John Nelson April 1, 2025

ORLANDO, FLA. — Miller Construction has broken ground on a new 112,000-square-foot warehouse at 5711 N. Pine Hills Road in Orlando. The $20.7 million project is dubbed First Pine Hills and will serve as a build-to-suit facility for Addison HVAC LLC. Miller Construction is the general contractor for the project, which First Industrial Realty Trust is developing. Other members of the design-build team include C4 (architect and MEP engineer), Mendieta Structural Consulting Inc. (structural engineer) and Oxbow Engineering (civil engineer). Situated west of I-4, the new facility will feature tilt-wall construction, structural steel and a TPO roof. The project is expected to deliver in the third quarter.

April 1, 2025

Acquisitions Kentucky Multifamily Southeast

Marcus & Millichap Negotiates $13.4M Sale of Hurstbourne Heights Apartments in Louisville

by John Nelson April 1, 2025

LOUISVILLE, KY. — Marcus & Millichap has negotiated the $13.4 million sale of Hurstbourne Heights, an 84-unit apartment community located at 7603 Downs Farm Way in Louisville. Situated on 6.8 acres in the city’s Highview neighborhood, Hurstbourne Heights was delivered in 2019 and features one-, two- and three-bedroom apartments, as well as a dog park and walking trail. The buyer, a South Carolina-based investor, assumed a HUD-insured loan as part of the transaction. Aaron Johnson and David Badgett of Marcus & Millichap’s Louisville office represented the seller, a locally based developer, and procured the buyer in the transaction. Both parties requested anonymity.

April 1, 2025

Florida Loans Multifamily Southeast

Lynd Group Secures $132.5M Refinancing for Villas at Tuttle Royale Apartments in South Florida

by John Nelson March 31, 2025

ROYAL PALM BEACH, FLA. — The Lynd Group has secured a $132.5 million bridge loan from MF1 Capital to refinance the construction loan for The Villas at Tuttle Royale, a multifamily project in the Royal Palm Beach suburb of West Palm Beach. New York-based S3 Capital originally provided a $126 million construction loan to Lynd Group in March 2023 for the development. Situated at 11200 Nicole Drive, The Villas at Tuttle spans 26 buildings and comprises 401 units, including 55 townhomes with private two-car garages. The garden-style community offers one-, two-, three- and four-bedroom floorplans up to 2,035 square feet in size. Amenities include a two-story clubhouse with a sauna, fitness and wellness center, coffee bar, private dining areas, game room, community catering space, two lounges, coworking pods, a business center and a panoramic outdoor terrace. Additional outdoor offerings include a recreation deck with a resort-style pool, cold plunge, spas, cabanas, fire pits, pickleball courts, bike path and a playground. The Villas at Tuttle is located within the 200-acre mixed-use Tuttle Royale project.

March 31, 2025

Build-to-Rent Development Georgia Multifamily Single-Family Rental Southeast

Joint Venture to Develop 250-Unit Build-to-Rent Community in Port Wentworth, Georgia

by John Nelson March 31, 2025

PORT WENTWORTH, GA. — A joint venture between PCCP LLC and Advenir Azora has secured a 28-acre site in Port Wentworth for the ground-up development of a 250-unit build-to-rent (BTR) residential community. Located at 1100 Meinhard Road, the site is less than 10 miles from the Port of Savannah. The community will feature one- and two-bedroom duplexes, two-bedroom cottages and two- and three-bedroom townhomes with an average size of 1,081 square feet. Amenities at the complex will include a 3,000-square-foot clubhouse and leasing center with a conference room, coffee bar and an Olympic-style pool with gazebos and lounge chairs, as well as a 1,460-square-foot fitness center with a turfed exterior. Additionally, there will be shared green spaces that will comprise pocket parks and playgrounds, a pickleball court and walking trails. The first homes are expected to be delivered in June 2026. This project marks PCCP and Advenir Azora’s second joint venture, following the ground-up development of Leo at Wendell in Raleigh, which is slated for completion in December.

March 31, 2025

Development Retail South Carolina Southeast

Morgan Companies to Break Ground on Publix-Anchored Shopping Center in Florence, South Carolina

by John Nelson March 31, 2025

FLORENCE, S.C. — The Morgan Cos. will develop a grocery-anchored shopping center in Florence dubbed Palmetto Place. Publix has signed a 47,000-square-foot lease to anchor the project. An additional 18,050 square feet of retail space will be available for use, as well as several outparcels for future retail development. Wes Thurmond and Robey Spratt of Atlantic Retail Properties will serve as the leasing agents for the project. Morgan Cos. will close on the land acquisition for the shopping center in the coming months, with plans to begin construction later this year. Palmetto Place is scheduled to open by late 2026.

March 31, 2025

Acquisitions Florida Industrial Southeast

CBRE Arranges $43.5M Sale of Warehouse in North Miami

by John Nelson March 31, 2025

MIAMI — CBRE has arranged the sale of Sunshine State Industrial, a 211,471-square-foot, multi-tenant warehouse located at 1400 N.W. 159th St. in Miami. Corebridge Real Estate Investors purchased the property for $43.5 million. José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento of CBRE represented the seller, Boston-based Longpoint Partners, in the transaction. Originally built in 1969 on the city’s north side, the cross-dock warehouse features fluorescent and metal halide lighting, LED exterior lighting, 24-foot clear heights, 151 parking spaces, 49 loading positions and truck court depths of 95 feet to 150 feet, as well as a 335-foot building depth. The property is situated within the 5 million-square-foot Sunshine State Industrial Park, immediately adjacent to the Golden Glades Interchange project and the Miami and Fort Lauderdale airports.

March 31, 2025

Acquisitions Retail Southeast Virginia

Legacy Realty Group Brokers Sale of Cain Creek Shopping Center in Danville, Virginia

by John Nelson March 31, 2025

DANVILLE, VA. — Legacy Realty Group Advisors has brokered the sale of Cain Creek Shopping Center, a 59,410-square-foot retail property located at 1461 S. Boston Road in Danville, a city near the Virginia-North Carolina border. Food Lion anchors the center. Additional tenants at the property feature a mix of stores, restaurants and businesses, including Family Dollar, Danville Dental, Fabulous Beauty Supply and Isabel’s Pizza Pasta & Subs. Jacob Baruch of Legacy Realty Group Advisors represented both the buyer and seller, an affiliate of Fayetteville, Ark.-based Core Equity Partners, in the off-market transaction. The sales price was not disclosed.

March 31, 2025

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