DORAL, FLA. — Metro Seattle-based Terreno Realty Corp. has acquired Terreno Doral Air Logistics, an industrial park in the Miami suburb of Doral, for $195.6 million. The seller was not disclosed. Located at 7725-7785 N.W. 41st St., the facility is situated near the Palmetto Expressway and Miami International Airport. The property provides 110 dock-high loading positions, 36-foot clear heights, six grade-level loading positions, parking for 528 cars (including 11 electric vehicle charging stations) across three rear-load industrial distribution buildings that span approximately 496,000 square feet. The 23.4-acre property was 76 percent leased at the time of sale to six tenants.
MIAMI — A joint venture between Taubco and Landau Properties has secured a $74 million construction loan for One Kane Concourse, the only Class A office development on Bay Harbor Islands in Miami. The 125,000-square-foot project is also the only Miami office building that will offer private boat access and dockage. 3650 Capital provided the loan. Located at 9551 E. Bay Harbor Drive, the waterfront building will be situated adjacent to Bal Harbor Shops and feature a ground-floor restaurant, private outdoor space and a rooftop terrace. Miami-based architect Luis Revuelta designed the seven-story office project. Taubco and Landau have tapped Brian Gale, Andrew Trench, Ryan Holtzman and Edward Quinon of Cushman & Wakefield for the leasing assignment at One Kane Concourse. The developers plan to wrap up construction by late 2026.
MIAMI — Neology Development Group has obtained a $63.5 million bridge loan from Starwood Property Trust to pay off the construction loan for Fourteen Main Street Residences, a multifamily development located along downtown Miami’s historic 36th Street. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia arranged the financing on behalf of Neology and American Opportunity Zone Advisors, a group led by Peter Linneman. Berkadia also arranged the original $57.5 million construction loan through Churchill Real Estate to fund Neology’s third project in Miami’s Allapattah neighborhood. Upon completion, the development will feature 237 units that will range in size from 450 to 1,000 square feet across two buildings named the Highrise and Midrise. The 14-story Highrise will include studio, one- and two-bedroom floor plans, and the five-story Midrise will include two-bedroom walk-up homes and two-bedroom apartment units. The development will also include ground-level retail space. Amenities will include a multipurpose lobby, coworking spaces, outdoor movie screen, 12,000-square-foot rooftop pool and clubhouse, poolside cabanas, fitness and wellness center, yoga and cardio studio, dog park, bike storage, smart package lockers, parking garage with electric vehicle charging stations and a rideshare lobby. Fourteen Main Street Residences is on track to receiving …
MONTGOMERY, ALA. — A partnership between DWG Capital Partners and Dorado Holdings has purchased Cloverdale Estates, a 106-unit multifamily community located at 3453 Audubon Road in Montgomery. This marks the joint venture’s second acquisition in Montgomery, following the purchase of the 96-unit Greenbriar Apartments in July. Josh Jacobs of Marcus & Millichap’s Birmingham office represented the seller, an entity doing business as RK Cloverdale LLC, in the transaction. The sales price was not disclosed. Cloverdale Estates offers one-, two- and three-bedroom residences ranging in size from 725 to 1,350 square feet. Each apartment features spacious layouts, patios/balconies and select in-unit washer and dryer connections. Approximately 70 percent of the units have been upgraded with high-end finishes, updated mechanical systems and exterior improvements. The new ownership plans to renovate the remaining apartments over the next 24 months.
NORCROSS, GA. — Atlanta-based Bull Realty has brokered the sale of a 103,105-square-foot office building in metro Atlanta that was formerly owned by Ameris Bank. Located at 6625 The Corners Parkway in Norcross, the property sold for $6.4 million in an all-cash deal. The buyer was an investor partnership that included ALM Automotive Group, a current tenant in the building. Michael Bull and Austin Bull of Bull Realty marketed the property on behalf of the seller.
KENNESAW, GA. — JLL Capital Markets has arranged the $63.5 million sale of Cobb Place, a 335,190-square-foot shopping center in Kennesaw. Jim Hamilton, Brad Buchanan, Andrew Kahn and Anton Serafini of JLL represented the seller, Savannah, Ga.-based Wicker Park Capital Management, in the transaction. The buyer was Miami-based Shaked Acquisitions. Located about 27 miles northwest of Atlanta, the shopping center is historically the top destination in the region for furniture and home-centric retailers, according to JLL. The longstanding anchor list includes Ashley Furniture HomeStore, American Signature Furniture, DSW, Cost Plus World Market, Hobbytown, Bassett Furniture, Natuzzi and BrandsMart USA.
NEWPORT NEWS, VA. — Berkadia has brokered the sale of Forest Lake at Oyster Point, a 296-unit multifamily property located at 307 Saint Thomas Drive in Newport News. Richmond-based Levco Management acquired the property for an undisclosed price. Drew White, Carter Wood and Cole Carns of Berkadia represented the Nebraska-based seller, Haley Residential, in the transaction. Built in 1986 and renovated between 2008-2013, Forest Lake at Oyster Point offers a mix of one-, two- and three-bedroom apartments ranging in size from 780 to 1,235 square feet, according to Apartments.com. Amenities at the Class B property include a tennis court, grilling area, two swimming pools and a fitness center.
WINSTON-SALEM, N.C. — Walker & Dunlop has provided a $13.9 million loan for Sedgefield Apartments, a 144-unit garden-style multifamily community located at 4755 Country Club Road in Winston-Salem. Brendan Coleman and Adam Johnston of Walker & Dunlop originated the Freddie Mac loan on behalf of the borrower, Elliott Properties. Sedgefield was built in 1987 and features one- and two-bedroom apartments, as well as a pool, fitness center, laundry facilities, business center, dog park and tennis and volleyball courts.
SARASOTA, FLA. — MAG Capital Partners, a Dallas-based investment firm led by Dax T.S. Mitchell and Andrew Gi, has acquired a 23,895-square-foot industrial facility located at 6460 Parkland Drive in Sarasota. The firm purchased the asset for an undisclosed price in a sale-leaseback with the tenant and seller, MDC Precision. Andrew Sandquist, JC Asensio and Briggs Goldberg of Newmark represented MDC, which uses the facility for its insulator sealing division, in the transaction. The asset is situated on a 2.2-acre site near the Sarasota-Bradenton International Airport with 1,000 feet of frontage along US Highway 301.
ST. LUCIE, FLA. — St. Lucie Public Schools has selected Spiezle Architectural Group Inc. to provide design services for the school district’s 217,500-square-foot Western Grove K-8 prototype campus. General contractor Wharton-Smith plans to begin construction on the project in February and wrap up by August 2026. The six-building campus will include two-story academic buildings, a two-story administration building, gymnasium, chiller plant with thermal storage and a 33,569-square-foot auditorium/cafeteria that will feature dining facilities, a kitchen, custodial area, stage, band classroom, vocal classroom and an art classroom. Outdoor offerings will include playgrounds, multipurpose field, hard court and dropoff/pickup area. The Western Grove K-8 prototype campus is designed to accommodate nearly 2,000 students.