ORLANDO, FLA. — CP Group has signed General Dynamics Corp., a publicly traded aerospace and defense corporation, to a 50,368-square-foot office lease renewal in Orlando. The Reston, Va.-based tenant will continue to occupy Resource Square III, an office building located within Central Florida Research Park. Diane Drobia and Chris Sproles of CBRE represented the tenant in the lease negotiations. Madison Kimbell of JLL represented CP Group. In addition to General Dynamics, other recent leases at Resource Square III include American Electronic Warfare Associates Inc. signing a 10,420-square-foot lease and Florida Office Group renewing its 4,249-square-foot lease. Central Florida Research Park is situated adjacent to the University of Central Florida (UCF). CP Group has owned Resource Square I and III within the park since January 2020.
Southeast
Marcus & Millichap Brokers Sale of Retail Property in Leesburg, Florida Leased to Heartland Dental
by John Nelson
LEESBURG, FLA. — Don McMinn and Andrew Koriwchak of Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta have brokered the sale of a single-tenant retail property located at 27417 US Highway 27 in Leesburg, about 45 miles northwest of Orlando. Built on 1.1 acres in 2002, the property was leased to Heartland Dental, which operates the 4,296-square-foot building as South Leesburg Dental Care. The dental practice recently opened at the property, which is an outparcel to a Winn-Dixie grocery store. Heartland Dental has a 10-year corporate lease at the property with rent increases and extension options. McMinn and Koriwchak represented the seller, a Florida-based developer, in the transaction. The locally based buyer purchased the property for an undisclosed amount in an all-cash transaction. “Investor demand for single-tenant medical properties remains strong, driven by the stability of the healthcare sector and quality of the locations,” says McMinn. “We are currently marketing additional Heartland Dental properties in Cape Coral, Fla., and McDonough, Ga.”
MIAMI — The Miami-Dade County Commission has granted final approval for Little River District, a $3 billion mixed-use development in Miami’s Little River and Little Haiti neighborhoods. SG Holdings, a joint venture between Swerdlow Group, SJM Partners and Alben Duffie, is the developer. Spanning 63 acres, the project is slated to include more than 5,700 affordable and workforce housing units alongside big box retail stores, small businesses, a major grocery operator, green public space and transit infrastructure with the addition of a new train station. Construction is expected to begin in 2026, with a projected development timeline of eight years. Little River District is considered the largest affordable housing development in Miami-Dade County’s history, according to a news release. Plans call for 2,284 affordable housing units for residents earning up to 60 percent of the area median income (AMI), 1,398 workforce rental units for those making 120 percent of AMI and 2,048 potential workforce condo units, which would allow the buyers to obtain significant subsidies to meet the purchase price at up to 140 percent AMI. Current residents of existing public housing complexes situated within the development site are guaranteed the right to return to new units at Little River …
LS GreenLink Closes on Land Acquisition in Chesapeake, Virginia for New $681M Power Cable Manufacturing Facility
by John Nelson
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 …
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.
Ridgeline, Deep Cove to Begin Construction on Bend at Capitol District Mixed-Use Project in Nashville
by John Nelson
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).
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.
Marcus & Millichap Negotiates $13.4M Sale of Hurstbourne Heights Apartments in Louisville
by John Nelson
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.
Lynd Group Secures $132.5M Refinancing for Villas at Tuttle Royale Apartments in South Florida
by John Nelson
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.
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.