MIAMI — A joint venture between locally based Torose Equities and Irvine, Calif.-based Sabal Investment Holdings has sold 3480 Main Highway, a 55,000-square-foot office and retail property located in Miami’s Coconut Grove neighborhood. Miami-based Azora Private purchased the property for $61 million, or $1,100 per square foot. The building is fully leased to food-and-beverage concepts Amal and Level 6, which are located on the ground floor and rooftop, as well as three office tenants. In 2025, an affiliate of CGI Merchant Group lost the office building through a UCC auction over $32.5 million in debt, in which Torose Equities and Sabal purchased the loan, according to South Florida Business Journal.
MONROE, N.C. — Northmarq has negotiated the sale of Yardly Monroe, a 151-unit build-to-rent (BTR) community located in Monroe, roughly 30 miles outside Charlotte. Trevor Koskovich, John Currin, Jesse Hudson and Austin Jackson of Northmarq represented the seller, a joint venture between developer Taylor Morrison and equity partner Värde Partners. Faron Thompson and Grant Harris, also with Northmarq, originated $24.8 million in Freddie Mac acquisition financing on behalf of the buyer, FCP. The five-year, interest-only loan features a 35-year amortization schedule. Yardly Monroe, which has been rebranded as the Cottages of Monroe, is situated on nearly 25 acres and features one- and two-bedroom homes ranging in size from 717 to 1,030 square feet, according to Apartments.com. Each home features a private backyard with a pet door, full-sized washer/dryer, stainless steel appliances, high-speed internet, smart thermostat, doorbell camera, 10-foot ceilings, pantry, walk-in closet, vinyl plank flooring and a kitchen island. Community amenities include a swimming pool, dog park and a fitness center.
CONCORD, N.C. — Crescent Communities and AEW Capital Management have sold one of three rear-load industrial buildings within AXIAL Bonds Farm, a newly constructed, 810,000-square-foot industrial campus located in Concord, a northeast suburb of Charlotte. Brian Crutcher and Anne Johnson of CBRE represented the sellers in the transaction. Thomas Hipp of Whiteside Properties represented the buyer, National Kitchen & Bath Cabinetry Inc., which will fully occupy the building. The sales price was not disclosed. The project team for AXIAL Bonds Farm included Merriman Schmitt Architects (architect), Oak Engineering (civil engineer), Landmark Builders (general contractor), AEW Capital Management (equity), Canadian Imperial Bank of Commerce (lender) and CBRE (leasing). AXIAL Bonds Farm spans 70 acres and contains three buildings that measure 414,000, 247,000 and 148,720 square feet. The campus also includes 36-foot clear heights, rear-load configuration, 1,099 car parking spaces and 199 trailer parking spaces.
ATLANTA — Charlotte-based developer Crescent Communities has unveiled plans for 3600 Peachtree, a new mixed-use project in Atlanta’s Buckhead district. A construction timeline for the project was not announced. The 2.5-acre site is located at the corner of Peachtree and Wieuca roads, adjacent to Simon’s Phipps Plaza mall. Crescent made the announcement alongside its project partner, the Church of Wieuca, which currently occupies part of the site. Plans currently call for a 21-story, 375,000-square-foot office building and a 300-unit apartment community that will be operated under the developer’s NOVEL by Crescent Communities brand. The development will also feature street-level retail and restaurant space. Crescent also plans to introduce a comprehensive, hospitality-driven amenity program via approximately 10,000 square feet of shared indoor amenities and direct access to an elevated 19,000-square-foot landscaped outdoor terrace. Specific amenities will include conferencing and training spaces that can accommodate more than 200 attendees, as well as multiple alternative work environments and spa-like wellness and fitness facilities with locker rooms, indoor and outdoor lounges. Project partners for 3600 Peachtree include HSR Development Services (residential development), Partners Real Estate (office leasing), Pickard Chilton (architecture) and Kimley-Horn (civil engineering). “Our focus is on creating a workplace that feels elevated …
After nearly three years of wrestling with oversupply, Raleigh-Durham’s multifamily market stands at an inflection point that informed investors have been quietly anticipating. The numbers tell a compelling story: construction starts plummeted from around 15,000 units in 2022 to roughly 2,000 in 2024, a staggering 86 percent decline that’s creating the supply drought the market desperately needed. The timing couldn’t be more critical. With an 18-month construction timeline followed by 12 to 16 months of lease-up process, the wave of deliveries from those record 2022 starts peaked in early-to-mid-2025. What comes next is perhaps the most interesting chapter in the Triangle’s multifamily story since our record rent jumps of 2021. Mathematics of recovery The construction cycle’s predictable timeline creates a unique visibility into market dynamics that astute capital allocators are already pricing in. The minimal 2024 starts are translating directly into minimal deliveries stretching from late 2025 through 2028 and beyond, which is essentially a three-year window of supply constraint that stands in stark contrast to the flood of new inventory and increased concessions that plagued 2023 to 2025. Meanwhile, demand fundamentals remain exceptionally strong. Gross absorption hit approximately 11,000 units in 2024 and is tracking toward another 10,000 (estimated) …
EDGEWOOD, FLA. — Foundry Commercial plans to develop Edgewood Park of Commerce (EPOC), a six-building, 565,000-square-foot industrial development located at 4857 S. Orange Blossom Trail in Edgewood, a suburb of Orlando. The locally based commercial real estate services firm and developer recently closed on the purchase of the 41-acre site from RandallMade Corp., the global knife manufacturer, for $14.1 million, according to local media outlets. EPOC will include three pairs of buildings, which will measure 80,000 to 107,400 square feet each, with truck courts and loading bays between them, according to the Orlando Business Journal. The outlet also reports that the $95 million project’s groundbreaking was originally anticipated for the third quarter of 2025. Foundry expects EPOC to deliver in the second half of 2027.
CORAL SPRINGS, FLA. — Garden City, N.Y.-based Pliskin Realty & Development has acquired Turtle Run Shoppes, an 80,000-square-foot retail center located in Coral Springs, a city in South Florida’s Broward County, for $19.5 million. Built in 1990 and renovated in 2018, Turtle Run Shoppes was 92 percent leased at the time of sale. Tenants include America’s Best Contacts and Eyeglasses, Cycle Gear, My Salon Suite, Smoothie King, La Brasas Bar & Restaurant, the U.S. Postal Service and Ross Dress for Less, which anchors the center. Douglas Mandel, Zach Levine and Cody Hershey of Marcus & Millichap marketed the property on behalf of the seller, Boca Raton, Fla.-based Grover Corlew, and procured Pliskin Realty in the transaction.
LEESBURG, VA. — TA Realty, in collaboration with its data center development arm TA Digital Group, has sold two hyperscale data centers totaling 745,000 square feet in Leesburg, a city in Northern Virginia’s Loudoun County. The two facilities are the first completed buildings of a planned five-building, 450-megawatt (mW) hyperscale data center campus. The buyer and additional terms of the sale were not disclosed. The campus is set to be leased to a single, unnamed global cloud provider, according to Data Center Dynamics.
SUMMERVILLE, S.C. — Baltimore-based Continental Realty Corp. has acquired Elevate at Brighton Park, a 329-unit apartment complex located in the Charleston suburb of Summerville. Alex Okulski of Newmark represented the seller, American Landmark, in the transaction. The sales price was not disclosed. Situated within the 5,000-acre, master-planned community of Nexton, Elevate at Brighton Park comprises 19 three-story buildings that offer garden-style apartments, carriage homes and townhomes. Floorplans at the complex range from one-, two- and three-bedroom layouts, with an average unit size of 1,014 square feet. Amenities include a standalone clubhouse with separate fitness and business centers, a saltwater swimming pool, outdoor lounge areas with grills, hammock garden and a dog park.
In 2022, the Port of New Orleans (Port NOLA) announced the Louisiana International Terminal (LIT), a new $1.8 billion container terminal coming to Violet, a small city about 10 miles downriver (or south) from New Orleans in St. Bernard Parish. The project is a public-private partnership between Port NOLA and two private maritime industry leaders, Ports America and Terminal Investment Ltd., and is being funded with private capital and public funding from the State of Louisiana and federal sources. The U.S. Army Corps. of Engineers is managing LIT’s environmental review and permitting process, after which the public-private partnership will begin construction. Set for completion in 2028, the ambitious project is expected to generate 18,000 new jobs by 2050 and handle 2 million TEUs (twenty-foot equivalent units) of cargo traffic annually. “I consider it the most important project in the entire region,” says Andrew Marcus, founder of local commercial real estate services firm Agile Coast. “From an economic development perspective and from a quality-of-life perspective, it is the single-most important project for our region, period. The LIT is going to be the beachhead for getting modernized containerized cargo ships to come in, and we have the ability to have several terminals …