WRENS, GA. — California-based Graystone Capital Advisors has brokered the sale-leaseback of Stuckey’s 74,718-square-foot headquarters and manufacturing facility in Wrens, a rural suburb 30 miles southwest of Augusta. A Midwest-based buyer acquired the 10.2-acre asset for an undisclosed price, where Stuckey’s Corp. will lease the facility from its new owner. Julius Swolsky and Don Bingham of Graystone represented the seller in the transaction for the 20-year leaseback. Situated along 705 South Main St., the American brand has almost 20 standalone brick-and-mortar pecan stand locations and more than 50 Stuckey’s Express, or store-within-a-store, locations in convenience stores and gas stations, primarily in the Southeast and Texas. The company is a wholesale distributor for these outlets and the exclusive provider of Stuckey’s-branded products, including T-shirts, mugs, hats and the pecan log roll.
MANALAPAN, FLA. — Garden Commercial has acquired Plaza Del Mar, an 83,841-square-foot shopping center located at 250 S. Ocean Blvd. in Manalapan, a South Florida suburb in Palm Beach County. The tenant roster includes Publix, Art Basil Restaurant, John G’s, Thaikyo Asian Cuisine, The Ice Cream Club, Chico’s, Evelyn & Arthur, J.McLaughlin and several care and service retailers. Addicted Chic is set to open later this year. Located about 13 miles south of West Palm Beach, Plaza Del Mar sits between the Atlantic Ocean and the Intracostal Waterway and across from the upscale Eau Palm Beach Resort & Spa. Casey Rosen, Dennis Carson, Sriram Rajan and Michael Etemad of CBRE represented the seller, an affiliate of a joint venture between Evergreen Investment Advisors and Kitson & Partners, in the transaction. Scott Loventhal and Michael Gartenberg were the internal representatives for Garden Commercial. The sales price was not disclosed.
The multifamily market in the Washington, D.C., metro area has experienced meaningful shifts in 2024, marked by moderate demand, consistent construction and evolving investment patterns. As a major urban hub, D.C. continues to attract both local and out-of-state investors eager to tap into its growing potential. Out-of-state capital A key trend in the D.C. multifamily market is the strong influx of out-of-state capital. This year, 44 percent of buyers in our DMV (D.C., Maryland and Virginia) listings came from outside the region, drawn by the area’s stability and long-term growth potential. These out-of-market investors often pay a premium over local buyers, keeping deal volume and pricing competitive even amid rising interest rates. This steady inflow of external capital has reinforced the market’s resilience, underscoring the perceived value of D.C. multifamily assets. The demand from out-of-state investors has also provided stability to the market, helping to sustain price levels and liquidity despite macroeconomic headwinds. By bolstering interest in multifamily properties, this capital flow supports continued growth and positions D.C. as a desirable destination for long-term investment. As this trend persists, the D.C. metro area is likely to remain a focal point for diverse capital sources, ensuring strength and adaptability in its …
HENDERSON, N.C. — Variety Wholesalers Inc. has announced plans to acquire between 200 and 400 Big Lots stores in the midst of the latter retailer’s bankruptcy proceedings. North Carolina-based Variety Wholesalers will continue to operate the stores under the Big Lots brand. Additionally, the company plans to acquire up to two Big Lots distribution centers. According to Reuters, a bankruptcy judge approved the deal at a court hearing in Delaware. Variety Wholesalers will acquire the stores through the previously announced sales agreement between Big Lots and Boston-based Gordon Brothers Retail Partners. Gordon Brothers has entered into a sale transaction with Big Lots that will enable the transfer of assets — including stores, distribution centers and intellectual property — to other retailers and companies, including Variety Wholesalers. According to a press release issued by Big Lots, Variety Wholesalers may employ Big Lots associates at the stores and distribution centers in question, as well as certain corporate associates. A&G Real Estate Partners, a New York-based company that consults retailers looking to right-size their physical footprint, is serving as real estate advisor to Big Lots. “We are pleased to close this strategic transaction, which provides a framework to preserve thousands of jobs, maximize value and …
MIAMI — Locally based development firm Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use development located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story multifamily buildings that house 470 market-rate apartment units. JVP Management issued a $187 million loan for the development’s multifamily component, while Hudson Bay Capital issued a $104 million loan for the retail component. The funds will be used to pay off the project’s existing construction financing, which was provided by Apollo Global Management and Mack Real Estate Credit Strategies in 2022. A Walker & Dunlop team led by Keith Kurland and Gangemi Law Group represented Terra in the loan transactions. Joe Dewey, Brett Holland, Shawn Amuial, Shaina Kamen and Brian Piper of Holland & Knight provided legal counsel for Hudson Bay Capital. Leasing is underway for the residential component, with the first move-ins slated to begin this March. Apartments come in studio, one- and two-bedroom floor plans ranging between 500 and 1,250 square feet in size. Rents begin at approximately $2,500 per month. Residents will have access to …
DAVIE, FLA. — The Estate Cos. (EIG), a South Miami-based multifamily developer, has received a $78 million construction loan for its luxury apartment development in the north Miami suburb of Davie. Banesco Bank provided the loan for Phase I of Soleste Reserve, an eight-story property situated on 2.5 acres that features a selection of floor plans ranging from 500 to 1,100 square feet. The new complex will include 94 studios, 165 one-bedroom units, 68 two-bedroom units, seven three-bedroom units and 13 additional live-work apartments on the ground level. The Class A rental community will also include a resort-style pool and pool deck, an open-air rooftop terrace, gym, business center and resident’s lounge. The 347-unit project will take approximately two years to complete. EIG has plans to further develop an eight-story sister project adjacent to Soleste Reserve at 5081 S.W. 48th St.
HERNDON, VA. — Finmarc Management Inc. has acquired a four-building office portfolio in the Northern Virginia city of Herndon for $51 million. Eastdil Secured represented the undisclosed seller in the transaction, and Cliff Mendelson of Metropolis Capital Advisors assisted in the debt placement for Finmarc. The properties, known collectively as Dulles Corner, are situated in the region’s Dulles Technology Corridor and span nearly 620,000 square feet. The portfolio overlooks the Dulles International Airport and houses tenants in the aerospace, defense and tech industries, including Peraton, SAP National Security Services, DLT Solutions, Mission Essential, Valiant Integrated Services, Synopsys and BlackSky DC. In addition to offices, Dulles Corner features conference facilities, a private fitness center, onsite restaurants, daycare center and a central park with walking paths, water features, greenspaces and outdoor dining areas. Finmarc has selected Joshua Masi, Tom Walsh, Will Thomas and Nate Marshall of Cushman & Wakefield to handle leasing at Dulles Corner.
WASHINGTON, D.C. — Real Capital Solutions (RCS) has purchased an 11-story office building located at 1501 M St. NW in Washington, D.C.’s East End submarket for $29.3 million. Gerry Trainor of Transwestern brokered the transaction. The seller was not disclosed. Designed by Hartman-Cox Architects, the office building features 178,510 rentable square feet. The previous owner invested $13 million to upgrade the building’s lobby, restrooms, fitness center and a three-story “town hall” amenity space. RCS plans to add further improvements, including a spec suite program and the expansion of the town hall concept to the seventh and eighth floors.
METAIRIE, LA. — Chamblee, Ga.-based Audubon has sold The Local on Severn, a 161-unit apartment community in Metairie, for $17.6 million. The buyer was a Texas-based property management firm that has multiple Louisiana apartment communities in its portfolio. Located southeast of Baton Rouge via I-10, The Local on Severn offers studio, one-, two- and three-bedroom apartments, as well as two swimming pools and sundecks.
WEST PALM BEACH, FLA. — Three new tenants have signed leases at The Nora District, a mixed-use project currently underway in West Palm Beach. IGK Salon, Indaco and ZenHippo will occupy 2,347; 2,945; and 1,369 square feet at the property, respectively. The first phase of Nora District — which is being developed by a partnership between NDT Development, Place Projects and Wheelock Street Capital — is scheduled for completion early this year. Upon completion, Phase I will feature 150,000 square feet of retail, office and hospitality space. Committed retail tenants at The Nora District include Del Mar Mediterranean Restaurant, Sana Skin Studio, Mint, The Spot Barbershop, Loco Taqueria & Oyster Bar, H&H Bagels, Van Leeuwen Ice Cream, The Garret Group, Juliana’s Pizza, Sunday Motor Co., Celis Juice Bar and Café and [solidcore].