Southeast

LOCUST GROVE, GA. — Cresa has arranged a 250,041-square-foot industrial lease at 3090 Highway 42 in Locust Grove, about 36 miles south of Atlanta. The tenant is Power Grid Components (PGC), a Blackstone portfolio company that manufactures and distributes advanced components for utility transmission and power distribution. The firm has locations in the Southeast, New York, the Midwest and Canada. Michael Herz and Waite Buckley of Cresa’s New York City office, along with Tom Tindall and Brooks Morris of Cresa’s Atlanta office, represented PGC in the lease negotiations. The landlord was Granite REIT.

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HOMESTEAD, FLA. — Marcus & Millichap Capital Corp. (MMCC) has secured $14.5 million in construction financing for the development of a 1,038-unit self-storage facility at 1995 N.E. 8th St. in Homestead, about 32 miles south of Miami. The 135,800-square-foot property will operate as an Extra Space Storage facility. Robert Bhat of MMCC’s Miami office arranged the five-year loan through a local bank on behalf of the borrower, an undisclosed self-storage developer. The loan features a floating interest rate underwritten as 250 basis points above 1-month SOFR for the first three years with 36 months of interest-only payments.

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FALLS CHURCH, VA. — Hoffman & Associates, alongside a group of development partners that includes Rockwood Capital and Grosvenor Americas, has completed West Falls, a 10-acre mixed-use development in Falls Church. The transit-oriented project sits about 10 miles west of Washington, D.C., and is located near the West Falls Church Metro station. Hoffman & Associates, a local developer that is perhaps best known for leading the development of the $3.6 billion Wharf mixed-use waterfront destination in D.C., partnered with the City of Falls Church and Torti Gallas + Partners (site design and master planning) to bring the project to fruition. “West Falls is designed to bring people together in meaningful ways,” says Maria Thompson, president of Hoffman & Associates. “It’s a neighborhood that reflects the character of Falls Church while also looking toward the future, with sustainable design, open space and close proximity to transit.” West Falls includes 526 multifamily residences between The Alder (400 apartments) and The Oak (126 condominiums); 123,000 square feet of retail space comprising restaurants, shops and The Fresh Market grocery store, which will officially open in 2026; The Commons, an 18,000-square-foot public green space; the 146-room Home2 Suites by Hilton Falls Church hotel; The Reserve at …

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LAKE WORTH, FLA. — Berkadia has arranged a $57 million bridge loan for the refinancing of Astor Sound at Lake Worth, a 230-unit apartment community in South Florida’s Palm Beach County that is nearing completion. Mitch Sinberg, Scott Wadler, Brad Williamson, Matt Robbins and Patrick Johnson of Berkadia secured the two-year loan through Infinity Collective on behalf of the borrower, Midtown Capital Partners. Located at 2201 Tenth Ave. in Lake Worth, Astor Sound is situated on a 6.5-acre site next to a canal. The property will offer one-, two- and three-bedroom floorplans that range in size from 715 to 1,160 square feet. Amenities will include a resort-style pool and pavilion with a summer kitchen, fitness center, outdoor entertainment area, dog park/spa, resident coworking lounge, coffee bar, game room, conference room and an outdoor trail.

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DURHAM, N.C. — Walker & Dunlop has secured the refinancing of Plat 4 at Research Triangle, a 240-unit apartment community located at 5510 Primary Drive in Durham. Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Michael Ianno and Stanley Cayre of Walker & Dunlop’s New York City office arranged the floating-rate, interest-only loans through ACRE on behalf of the borrower, Buckingham Cos. The financing of Plat 4 at Research Triangle was executed in tandem with the refinancing of Buckingham’s Plat 10 at the Ranch in Loveland, Colo., with both transactions totaling $110 million. Built in 2023, Plat 4 offers a mix of studio, one-, two- and three-bedroom residences, as well as a pool, fitness center, lounge, car care center and a dog park.

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LITHIA SPRINGS, GA. — CenterPoint Properties has purchased a 395,750-square-foot industrial facility located at 2124 Skyview Drive in Lithia Springs, about 19 miles west of Atlanta. The seller and sales price were not disclosed. Frank Fallon and George Fallon of CBRE brokered the transaction. Located less than one mile from I-20, the industrial facility was fully leased at the time of sale to an undisclosed logistics provider. The facility offers parking for 243 cars — expandable to 274 — and 53 trailers, as well as 47 docks with room for 31 more, three drive-in doors, 32-foot clear heights and an ESFR sprinkler system. The acquisition of the Lithia Springs property followed CenterPoint’s entry into the Atlanta market in May with the purchase of a 347,013-square-foot facility in Powder Springs, Ga.

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MORGANTOWN, W.VA. — Centurion Property Group has acquired U Club Sunnyside, a 534-bed student housing community located near the West Virginia University campus in Morgantown. The new ownership plans to rebrand the property as The View at Morgantown and implement capital improvements following the acquisition. The seller and terms of the transaction, which was brokered by JLL, were not released. Developed in 2016, the property offers units in a mix of two- and four-bedroom configurations. Shared amenities include a resort-style pool, hot tub, fitness center, community kitchen, barbecue grills and dedicated study spaces.

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WALTERBORO, S.C. — Marcus & Millichap has brokered the $9.3 million sale of Shoppes at Walterboro, a 53,330-square-foot shopping center located approximately 48 miles west of Charleston. Originally built in 2007 on 7.4 acres, the center was renovated in 2024 with a new roof and awnings, as well as a resurfaced parking lot. Walmart shadow-anchors the property, which was 97 percent leased at the time of sale to tenants including Five Below, Dollar Tree, Cato Fashions, Shoe Show, It’s Fashion, AT&T and China Buffet. Al Taf of Marcus & Millichap represented the seller in the transaction. Benjamin Yelm was Marcus & Millichap’s broker of record in South Carolina.

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The Club at Broadstone Marina Bay

TAMPA, FLA. — Alliance Residential Co. has opened Broadstone Marina Bay, a 325-unit luxury apartment complex located near Tampa International Airport. The project team includes MSA Architects (project architect), Rhett Roy (landscape architect), KDS Interiors (interior designer) and Halff Associates (engineer). Broadstone Marina Bay offers studio, one- and two-bedroom apartments, as well as three-bedroom townhomes with private garage parking, ranging in size from 593 square feet to 1,564 square feet, according to Apartments.com.  Additionally, the property will include The Watercolor Collection — a limited number of high-floor apartments offering bay views and waterfront townhomes set within a private neighborhood-style enclave, along with a private pet spa and gated pet park.   Amenities at the complex include The Club at Broadstone Marina Bay, a clubhouse with a bayfront saltwater swimming pool with cabanas, rooftop lounge with views of Tampa Bay, waterfront putting green, yoga lawn, bocce ball courts, business lounge with private office studios, media lounge and a fitness center with yoga and boxing studios. The Club will also offer a fully equipped multimedia production space designed for resident music, video and podcast creation.

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Mark Tallahassee

TALLAHASSEE, FLA. — A joint venture between Landmark Properties and Manulife Investment Management has completed The Mark Tallahassee, an 860-bed student housing development near the Florida State University (FSU) campus in Tallahassee. The development team for the project included Dwell Design and Landmark Construction. Located at 675 W. Lafayette St., the development comprises three mid-rise buildings offering 202 fully furnished units ranging in configurations from studio to six-bedrooms. The property also offers VIP penthouse-style units with upgraded technology and appliance packages, as well as oversized common rooms with pool tables. Amenities include an 8,900-square-foot rooftop clubhouse with a pool and sun shelf overlooking the Doak S. Campbell football stadium; a fitness center with a cold plunge and sauna; 24-hour study lounge; gathering space with a grilling station; fire pits and a Jumbotron; and an additional outdoor fitness center. The Mark Tallahassee was fully leased ahead of FSU’s 2025-2026 academic year. 

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