Friday, October 9, 2026
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AcquisitionsFloridaRetailSoutheast

First Washington Realty Sells Two Miami Shopping Centers to Publix Super Markets

by John Nelson

MIAMI — First Washington Realty (FWR), a shopping center owner-operator based in Bethesda, Md., has sold two Publix-anchored shopping centers in Miami to Publix Super Markets Inc. The sales price was not disclosed. The properties include Airpark Plaza, a 171,443-square-foot shopping center near Miami International Airport at 5715 N.W. 7th St., and The Shoppes at Quail Roost, a 73,550-square-foot center located at 20201 S.W. 127th Ave. on the city’s south side. Both properties were fully leased at the time of sale.

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LoansMultifamilySoutheastVirginia

Walker & Dunlop Arranges $86.5M Refinancing of New Apartment Community in Richmond

by John Nelson

RICHMOND, VA. — Walker & Dunlop has arranged an $86.5 million loan for the refinancing of Chasen, a new 352-unit apartment community located in the Scott’s Addition neighborhood of Richmond. Alexandra Huffman, Justin Nelson, Andrew Tapley, P.J. Feichtmeier, Eric Norris and Jared Diedrich of Walker & Dunlop arranged the variable-rate, interest-only bridge financing through a private credit lender on behalf of the borrower, locally based Capital Square. Fully delivered earlier this year, Chasen offers studio, one-, two- and three-bedroom residences, along with more than 5,000 square feet of ground-floor retail space. Amenities include a resort-style pool, fitness center, rooftop terrace, club room with a golf simulator, whiskey lounge, coworking center, dog wash station and courtyards.

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DevelopmentFloridaSoutheastStudent HousingTennessee

Subtext Completes Student Housing Developments in Florida, Tennessee

by John Nelson

ORLANDO, FLA. AND KNOXVILLE, TENN. — Subtext has completed two student housing developments in Florida and Tennessee. Projects include VERVE Orlando, a 626-bed community located at 3133 N. Alafaya Trail near the University of Central Florida campus in Orlando; and EVER Knoxville, a 498-bed property located at 1919 Lake Ave. near the University of Tennessee campus in Knoxville. VERVE Orlando spans 446,078 square feet and offers 200 units in studio through five-bedroom configurations. Shared amenities include a 24-hour fitness center, dedicated yoga room and wellness suite with sauna and meditation rooms; a courtyard pool; outdoor green space with fire pits and grilling stations; a karaoke lounge; golf simulator; speakeasy with arcade games; study lounge with private and group study pods, an outdoor study breezeway and a podcast and content creation room; lobby coffee bar; and a pet spa. VERVE Orlando was developed in partnership with FrontRange Capital Partners and Nuveen Real Estate. Financing was provided by Simmons Bank. Additional members of the development team included Dwell Design Studio, ESG Architecture & Design, Kimley-Horn and Associates and Live Oak Contracting. The 14-story EVER Knoxville development spans 329,294 square feet and offers 136 units in one- through-five-bedroom configurations. Shared amenities include a …

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DevelopmentFloridaLeasing ActivityRetailSoutheast

Walmart to Open 40,344 SF Grocery Store in Metro Miami

by John Nelson

DORAL, FLA. — Terra has signed Walmart to a 40,344-square-foot retail lease at Doral Atrium, a 78,000-square-foot lifestyle retail development in Doral, a western suburb of Miami. Walmart plans to open a new neighborhood-format grocery store at the project. Construction of the new Walmart Neighborhood Market is expected to begin this fall, with an anticipated opening in 2027. Other committed tenants at Doral Atrium include PNC Bank, Bonchon Chicken, Sushi Mas, Tremble Pilates and The Good Feet Store. Jonathan Carter and Pablo Camposano of Colliers are handling the leasing assignment at the retail center.

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DevelopmentMixed-UseNorth CarolinaRetailSoutheast

Pappas Properties Breaks Ground on Publix-Anchored Retail Center in Metro Charlotte

by John Nelson

MATTHEWS, N.C. — Pappas Properties has broken ground on a Publix-anchored retail center at Cadia Village Matthews, an 84-acre mixed-use campus in metro Charlotte. The approximately 50,000-square-foot grocery store will feature a full-service pharmacy with a drive-thru and is expected to employ roughly 150 associates. The Publix store is set to open in fourth-quarter 2027. Other commercial tenants coming to the retail village at Cadia Village Matthews will include medical office users, a bank branch, fast-casual and sit-down restaurants and neighborhood retail and services. The mixed-use project also features single-family homes and townhomes under construction by David Weekley Homes. Choate Construction is building the retail village on behalf of Pappas Properties.

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AlabamaLoansMultifamilySoutheast

JLL Arranges $53M Refinancing for Apartment Community in Huntsville

by John Nelson

HUNTSVILLE, ALA. — JLL has arranged a $53 million refinancing loan for Bobo Development Group’s Arcadia Huntsville. The 250-unit property at 4810 Bradford Drive in Huntsville’s Cumming Research Park was completed in 2024. Newport Beach, Calif.-based Revitate is a limited partner in the project. Arcadia features studios, one- and two-bedroom floor plans, 18,000 square feet of retail and such amenities as a heated saltwater pool, clubhouse with demonstration kitchen, fitness center, coworking space, dog park, electric vehicle charging stations and outdoor grilling stations and lounge areas with gas fire pits. Gregg Shapiro, Anthony Sansone, Kelsey Bawcombe, Connor McCarthy and Jada Cooper headed up JLL’s team for the refinancing.

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DevelopmentIndustrialMarylandSoutheastTop Stories

Anduril Industries to Invest $3.7B for 2 MSF Shipyard Facility in Maryland, Create 3,100 Jobs

by John Nelson

SPARROWS POINT, MD. — American defense contractor Anduril Industries has selected the 3,300-acre Tradepoint Atlantic logistics and industrial park in Maryland’s Baltimore County for the site of a new $3.7 billion shipbuilding operation. Dubbed Arsenal-2, the 2 million-square-foot facility will be developed on the former Bethlehem Steel site in Sparrows Point and will expand the U.S. Navy’s submarine industrial base. The facility is expected to directly create 3,100 permanent jobs in Maryland and support more than 14,000 jobs overall. The project is estimated to generate more than $2 billion in annual economic output, including $312 million in wages. Arsenal-2 represents the largest single private investment in Maryland and the state’s largest job creator in over a decade, according to the State of Maryland. “With this facility, thousands of Marylanders will have new pathways to work, wages and wealth through advanced training and high-skilled maritime manufacturing jobs,” says Maryland Gov. Wes Moore. “We thank Anduril for choosing Maryland, and we’re ready to build the future of the aerospace and defense economy together.” “Sparrows Point helped build the fleet that won World War II,” adds Brian Schimpf, co-founder and CEO of Anduril. “With Arsenal-2, Anduril will return large-scale shipbuilding to a site …

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DevelopmentFloridaLoansMultifamilySoutheast

PTM Partners Obtains $125M Construction Loan for Phase II of High-Rise Project in St. Petersburg, Florida

by Abby Cox

ST. PETERSBURG, FLA. — PTM Partners has obtained a $125 million construction loan to finance EDGE Collective II, a 330-unit residential development in downtown St. Petersburg’s EDGE District. Scott Wadler, Alec Fox, Mitch Sinberg, Matt Robbins and Brad Williamson of Berkadia arranged the three-year, floating-rate loan through an affiliate of GID on behalf of PTM Partners. Rising 20 stories, EDGE Collective II will feature 330 residential units with roughly 19,000 square feet of retail space. Further details of the project were not disclosed. Berkadia also advised PTM Partners on the debt and equity capitalization of Edge Collective’s first phase, including $42 million in construction financing for the Moxy St. Petersburg Downtown and the adaptive reuse components of the mixed-use development.

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DevelopmentFloridaLoansMultifamilySoutheastWalker & Dunlop

Walker & Dunlop Provides $75M Refinancing of 23-Story Multifamily Tower in Metro Tampa

by Abby Cox

ST. PETERSBURG, FLA. — Walker & Dunlop has provided a $75 million Freddie Mac loan to refinance EVO St. Petersburg, a 220-unit residential complex located at 334 2nd Ave. S. in St. Petersburg. Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Sean Reimer, Dustin Stolly, Michael Stepniewski, Michael Ianno and Cody Ela of Walker & Dunlop arranged the fixed-rate financing on behalf of the borrower, FrontRange Capital Partners. Delivered in 2023, the 23-story tower features studio, one-, two- and three-bedroom floorplans. The community provides roughly 23,000 square feet of indoor-outdoor amenities including a swimming pool, fitness center, business center, clubhouse, a pet play area and 13,000 square feet of ground-floor retail.

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DevelopmentGeorgiaIndustrialSoutheast

Shimizu North America Delivers $69M Toyota Electronics Manufacturing Facility in Pendergrass, Georgia

by Abby Cox

PENDERGRASS, GA. — Atlanta-based international general contracting and design-build firm Shimizu North America has opened a new Toyota Industries Electric Systems North America (TESNA) manufacturing facility in Pendergrass, about 57 miles northeast of Atlanta via I-85. The 200,000-square-foot facility represents a $69 million investment and is projected to create more than 250 new jobs in Jackson County. The new facility is part of a larger Toyota Industries Group shared campus that houses sibling manufacturing affiliates including TD Automotive Compressor Georgia (TACG), Toyota Industries Compressor Parts America (TICA) and Toyota Industries Electric Systems (TIES). The new plant serves as the TIES North America – Georgia (TIESNA-GA) Electric Division and focuses on manufacturing automotive DC-DC converters designed to scale high-voltage vehicle battery power down to lower voltages to safely power auxiliary equipment. TIESNA Georgia is a subsidiary of Japan’s Toyota Industries Group.

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