Monday, October 27, 2025
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AcquisitionsDevelopmentGeorgiaRetailSoutheast

Gwinnett County to Acquire Former Sears at Gwinnett Place Mall in Metro Atlanta

by John Nelson

DULUTH, GA. — The Urban Redevelopment Agency of Gwinnett County has approved the purchase of a former Sears department store at Gwinnett Place Mall, a struggling shopping mall situated off Pleasant Hill Road near the I-85 exit in metro Atlanta. Northwood Ravin will sell the 11.5-acre site to the county for $11.5 million, the same price the Charlotte-based multifamily developer paid for the property in 2018. With the Sears acquisition, Gwinnett County now owns a combined 87.5 acres at Gwinnett Place Mall. Plans for the mall redevelopment include a mixed-use destination that is “green and walkable.” The county and the mall’s redevelopment consultant, CBRE, will release a nationwide request for proposal (RFP) to developers later this month. The mall redevelopment will include the Gwinnett Place Transit Center, which the county’s board of commissioners approved in March and is funded largely by the Federal Transit Administration. The project will expand transit connection throughout the county and is projected to be completed in 2032.

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ArkansasDevelopmentHealthcareSoutheast

McCarthy Delivers $185M Expansion of Mercy Hospital Fort Smith in Arkansas

by John Nelson

FORT SMITH, ARK. — McCarthy Building Cos. Inc. has delivered the new addition for Mercy Hospital Fort Smith, a hospital situated off Rogers Avenue in Fort Smith. The five-story addition spans 162,000 square feet and represents a $185 million expansion for the hospital, which opened in 1975. The expansion allows Mercy to accommodate approximately 25,000 more patients annually. Construction began in 2022 and increased the number of emergency rooms from 29 to 50, added six new trauma rooms and expanded the number of ICU beds from 36 to 64. Infrastructural upgrades include enhancements to the hospital’s mechanical penthouse, helipad and parking decks, along with an expanded central utility plant and the addition of a 22-bed observation unit in the former ICU space. The design-build team for the expansion project included ENFRA (mechanical engineer), HKS Architects, Olsson Associates (civil engineer) and Northstar Management (program manager). Mercy is one of the 15 largest health systems in the United States and serves patients in Arkansas, Kansas, Missouri and Oklahoma.

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DevelopmentGeorgiaIndustrialSoutheast

Joint Venture Breaks Ground on 686,400 SF Industrial Park in Buford, Georgia

by John Nelson

BUFORD, GA. — A joint venture between Trammell Crow Co. and a consortium led by CBRE Japan has broken ground on Buford Creek Business Center, a three-building, 686,400-square-foot industrial park in metro Atlanta. Situated at the northeast corner of Lanier Islands Parkway and Big Creek Road in Buford, the park will sit three miles from I-985 and 30 miles northeast of Atlanta. The developers plan to deliver Buford Creek Business Center by third-quarter 2026. The design-build team includes architect Atlas Collaborative and general contractor The Conlan Co. CBRE is leasing the park, which will comprise Building 100, a 349,440-square-foot cross-dock warehouse with 40-foot clear heights, and Buildings 200 and 300, two identically sized rear-load buildings spanning 168,400 square feet each.

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AcquisitionsIndustrialLeasing ActivityMississippiSoutheast

Cushman & Wakefield | Commercial Advisors Arranges Sale-Leaseback of Industrial Portfolio in Jackson, Detroit

by John Nelson

JACKSON, MISS. AND DETROIT — Cushman & Wakefield | Commercial Advisors has arranged the sale-leaseback of a five-property light-manufacturing industrial portfolio totaling 169,043 square feet. Four of the five assets are located in metro Jackson and one facility is located in metro Detroit. Landon Williams and Katie Hargett of Cushman & Wakefield | Commercial, along with Pratt Rogers of Kerioth Corp., represented the seller, an entity doing business as Multicraft Real Estate LLC. The buyer, an entity doing business as Harrison Cayden Holdings LLC, purchased the portfolio and leased it back on a 15-year term to Multicraft, which specializes in manufacturing equipment for the automotive, power tool and HVAC industries. Other terms of the transaction were not disclosed.

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AlabamaLoansRetailSoutheast

Burton, Peaceable Street Capital Close $123M Recapitalization of Alabama Shopping Center Portfolio

by John Nelson

MOBILE, ALA. — Mobile-based Burton Property Group and Peaceable Street Capital have closed the $123 million recapitalization of a four-property shopping center portfolio in Alabama. The properties include Riviera Square and Foley Square in Foley, Jubilee Square in Daphne and Westwood Plaza in Mobile. The 785,000-square-foot portfolio was 98 percent leased at the time of the recapitalization, details of which were not disclosed. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL arranged the financing on behalf of Burton Property Group, which will use its newfound capital flexibility on its mixed-use projects including the 1,300-acre South Alabama Logistics Park and River Walk Plaza, both in Mobile.

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DevelopmentFloridaLoansMultifamilySoutheast

Madison Capital Arranges Equity for $84M Multifamily Development Underway in North Miami, Florida

by John Nelson

NORTH MIAMI, FLA. — Madison Capital Group has arranged preferred equity financing for Urbania NoMi 125th, an $84 million luxury multifamily development in North Miami. The equity source was not released. The developers of the 12-story, 195-unit community include Continua Development and Oldtown Capital Partners. Construction is underway and the development is expected to come on line in 2026. Amenities at Urbania NoMi 125th will include a pool, fitness center, media lounge, outdoor gathering spaces and ground-level retail space.

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DevelopmentMixed-UseSouth CarolinaSoutheast

Pinckney, Coldwell Banker Unveil Plans for 34-Acre Mixed-Use Development in Johns Island, South Carolina

by John Nelson

JOHNS ISLAND, S.C. — Pinckney Partners and Coldwell Banker Commercial Atlantic have unveiled plans for South Island Market, a 34-acre mixed-use project under development on Johns Island, about 13 miles south of Charleston. The project will span 82,000 square feet across eight buildings, which will be designated for retailers, restaurants, service-based tenants and office space. The development will also include 79 luxury townhomes built by Fort Washington, Pa.-based Toll Brothers, along with 16 acres of open space. Buddy Darby and Charles Darby of Pinckney Partners are the lead developers of South Island Market. Hannah Kamba and Tim Rowley of Coldwell Banker are the development’s listing agents.

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AcquisitionsOfficeSoutheastTennessee

Avison Young Negotiates $4.5M Sale of Boutique Office Building in Nashville

by John Nelson

NASHVILLE, TENN. — Avison Young has negotiated the $4.5 million sale of a 7,203-square-foot boutique office building located at 107 Kenner Ave. in Nashville. Mike Jacobs, Lisa Maki and Jordan Powell of Avison Young represented the seller, Jim Jacobs of SilverPine Investments and Chapman Capital, in the transaction. Crews Johnson of Cushman & Wakefield represented the buyer, an accounting firm that will occupy the office building. The two-story property features two conferences rooms, three work rooms, collaborative spaces, a break room, reception area and 23 parking spaces. The freestanding property was built in 1979, according to LoopNet Inc.

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AcquisitionsGeorgiaNet LeaseRestaurantRetailSoutheast

Marcus & Millichap Brokers $2.7M Sale of New Restaurant in Metro Atlanta Leased to Whataburger

by John Nelson

ACWORTH, GA. — Marcus & Millichap has brokered the $2.7 million sale of a newly built restaurant located at 3558 Cobb Parkway NW in Acworth, a northwest suburb of Atlanta. Whataburger occupies the freestanding restaurant, which features a double drive-thru, on a new 15-year corporate ground lease. Don McMinn and Andrew Koriwchak of Marcus & Millichap represented the seller, an unnamed developer based in Georgia, in the transaction. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap procured the unnamed buyer. The 3,318-square-foot Whataburger restaurant was delivered in April and is adjacent to a Walmart Super Center and Super Target.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Alliance Residential Opens 332-Unit Broadstone West End Apartments in Charlotte

by John Nelson

CHARLOTTE, N.C. — Alliance Residential has opened Broadstone West End, a 332-unit apartment community located at 2220 Wilkinson Blvd. in Charlotte’s FreeMoreWest neighborhood. The property includes studio, one and two-bedroom floorplans, with monthly rental rates starting at $1,359. Amenities include a saltwater pool, fitness center, outdoor grilling station with a Big Green Egg and pizza oven, two firepits with lounge seating and a resident clubroom. Other amenities include a speakeasy-inspired poker room that is hidden behind a cabinet door entrance, as well as indoor bike storage, a fenced dog park, EV charging stations, smart package lockers, package room with cold storage and gated parking. The design-build team includes McAdams Co. (civil engineer), Cline Design (architect) and MAD Studio Interiors (interior designer). Attractions within a mile of Broadstone West End include Legion Brewing and Pinky’s Westside Grill.

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