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.
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.
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 …
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.
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.
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.
ELMWOOD, LA. — RNGD has begun vertical construction on The Francis, a 251-unit multifamily development located in Elmwood, about nine miles west of New Orleans. The project will replace a former Kmart store at Elmwood Center, a 1 million-square-foot open-air shopping center. Construction is slated for completion in spring 2028. Hancock Whitney Bank is providing financing for the project. The Jefferson Parish Economic Development Commission (JEDCO) collaborated with the Jefferson Parish Council and the development team on economic incentives, including a Payment In Lieu of Taxes (PILOT) structure. LRK is serving as architect, Parallel is leading interior design and RNGD is the general contractor. The Francis will feature one- and two-bedroom apartments with open-concept layouts and modern finishes. Amenities will include a central courtyard with a resort-style swimming pool and landscaped green spaces, a fitness center, coworking and creative spaces, resident library, dog walk and additional community gathering areas. The development team estimates the project will support more than 200 construction and permanent jobs. In addition to the residential building, Lauricella Land Co. is also planning a 70,000-square-foot expansion of Elmwood Center’s retail and dining options adjacent to The Francis.
The Louisville MSA remains a leading logistics and manufacturing hub in the Midwest and Southeast. While growth continues, the market is transitioning from the rapid expansion and speculative development that followed the pandemic toward a more measured and sustainable pace. Louisville’s appeal begins with its strategic location. UPS Worldport, direct access to Interstates 64, 65 and 71, and a deep regional labor pool reinforce the market’s attractiveness to occupiers serving both national and regional supply chains. Manufacturers, automotive suppliers, e-commerce companies and third-party logistics providers increasingly view Louisville as a cost-effective alternative to larger and more expensive distribution markets. Like many industrial markets across the country, Louisville is currently absorbing a significant amount of new inventory delivered throughout 2025 and the first half of 2026. As a result, vacancy has risen to approximately 5.6 percent, up from the low- to mid-3 percent range that characterized the market for several years following the pandemic. Even so, leasing activity remains healthy, particularly among users seeking modern Class A facilities with higher clear heights, trailer storage capacity and convenient access to major transportation corridors. One of the most notable trends in 2026 has been the slowdown in speculative construction starts. This is a …
WASHINGTON, D.C. — The U.S. Bureau of Labor Statistics (BLS) has reported that the U.S. economy added 29,000 jobs in September. This figure falls short of the roughly 84,000 new jobs estimated for the month by Dow Jones economists, according to CNBC. Meanwhile, the U.S. unemployment rate has slightly increased to 4.2 percent. The BLS has also downwardly revised the July job gains from +21,000 to -10,000 and the August gains from +162,000 to +133,000, totaling 60,000 fewer jobs than previously reported in those two months. The health care sector continued its upward trend in September (+17,000), but at a slower pace than the average monthly gain over the prior 12 months (+33,000), with gains in ambulatory health care services (+13,000) and in hospitals (+12,000). Meanwhile nursing and residential care facilities lost jobs (-9,000). Employment in construction changed little in September (+11,000), as the industry has averaged an increase of 10,000 jobs per month over the prior 12 months. Employment in nonresidential specialty trade contractors added +12,000 jobs. Manufacturing employment is up by 72,000 since a recent low in December 2025, while adding 9,000 jobs in September. Over the month, employment increased in plastics and rubber products manufacturing (+5,000) and machinery …
NASHVILLE, TENN. — BWE has arranged a $42.5 million loan to refinance the historic Baggage Building, a 61,000-square-foot office and retail property located at 111 10th Ave. S near Nashville’s Gulch district. Nick Harb of BWE secured the financing through a regional bank on behalf of the borrower, DZL Properties. The loan features a “meaningful” interest-only payment period. The Baggage Building was originally built between 1898 and 1900 as part of the Louisville-Nashville Railroad/Union Station terminal complex used to handle luggage and freight. Renovated in 1999, tenants at the four-story property include Pinnacle Bank, The Finch Grill & Raw Bar and Global Medical Research.