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DevelopmentMarylandSoutheastStudent Housing

MCB Opens 473-Bed Student Housing Community Near Morgan State University in Baltimore

by John Nelson

BALTIMORE — MCB Real Estate has opened The Enolia, a 473-bed, off-campus student housing community located at 4529 Harford Road in Baltimore. The $58 million development is situated less than a mile from Morgan State University’s campus. Named after Baltimore civil rights leader and first female NAACP president Enolia Pettigen McMillan, The Enolia features 151 apartments, each with bed-to-bath parity and fully furnished with washers and dryers, quartz countertops and stainless steel appliances. Amenities include a fitness center, game room, study rooms with private huddle areas, lounges, an outdoor courtyard with three terraced levels, lawn areas and a firepit. The Enolia represents the first ground-up student housing development serving Morgan State students in 20 years, according to MCB.

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DevelopmentFloridaSeniors HousingSoutheast

Chancey Development Delivers 86-Unit Seniors Housing Community on Marco Island in Southwest Florida

by John Nelson

MARCO ISLAND, FLA. — Chancey Development, in partnership with BRW Development and Watermark Retirement Communities, has delivered The Watermark at Marco Island, a new, 86-unit seniors housing community on Marco Island in southwest Florida. This marks the first senior living community on the island. Totaling 103,000 square feet, the property features 66 assisted living and 20 memory care units. Chancey Architecture & Design designed the community, with Wichman Construction serving as the general contractor. Chancey also partnered with the City of Marco Island to create a public park adjacent to the property, which is located with proximity to an urgent care facility.

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AcquisitionsFloridaRetailSoutheast

Real Estate Fund Acquires Merritt Crossing Shopping Center on Florida’s Space Coast for $9.1M

by John Nelson

MERRITT ISLAND, FLA. — MHCommercial Real Estate Fund II, a private equity fund launched by South Florida-based commercial real estate services firm NAI Merin Hunter Codman Inc., has acquired Merritt Crossing, a 90,000-square-foot shopping center on Florida’s Space Coast, for approximately $9.1 million. John Crotty, Michael Fay, David Duckworth, Brian De La Fe and Philip Shapiro of Avison Young represented the seller, Dechomai Asset Trust Number Three LLC, in the transaction. Matthew Brown, Nicholas White and Will Rosenfield represented the buyer on an internal basis. DG Market and Planet Fitness anchor the shopping center, which is situated on 15.3 acres at 239 Crockett Blvd. on Merritt Island. Merritt Crossing was 92.3 percent leased at the time of sale. NAI Merin Hunter Codman will manage the shopping center, and Holly Carver and Lisa Earnhardt of Rocket City Commercial Real Estate will lease the property on behalf of the new ownership. Since launching in 2022, MHCommercial Real Estate Fund II has purchased nine properties totaling 1.1 million square feet.

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AcquisitionsRetailSoutheastVirginia

Colliers Negotiates $8.6M Sale of Lynnhaven Square Retail Center in Virginia Beach

by John Nelson

VIRGINIA BEACH, VA. — Colliers has negotiated the $8.6 million sale of Lynnhaven Square, a two-property retail center located at 2077-2085 Lynnhaven Parkway in Virginia Beach. Jeff Fritz and Jay O’Donnell of Colliers represented the undisclosed seller, a tenancy in common (TIC) entity, in the transaction. The undisclosed buyer has tapped George Fox of Colliers to provide leasing advisory services at Lynnhaven Square, which was fully leased at the time of sale to tenants including Wingstop, Cold Stone Creamery, Virginia ABC, Coastal Vision and The UPS Store. Situated on 2.4 acres, the property is part of Salem Crossing, a larger 450,000-square-foot retail development.

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Dori Nolan multifamily institutional investors quote
Content PartnerDevelopmentFeaturesLeasing ActivityLoansMidwestMultifamilyNortheastSoutheastTexasWestern

Institutional Investors Resume Activity Amid Stabilizing Conditions

by Sarah Daniels

Since the Federal Reserve began raising rates in March 2022 to combat inflation, the real estate market has faced challenges such as rising interest rates, capital market volatility and economic uncertainty. These factors caused many institutional investors to pause their real estate investment activities compared to historical levels. Despite ongoing volatility, investors are gradually re-entering the market, driven by several factors. Key reasons for the pause included a challenging fundraising and capital markets environment, the unpredictable cost of capital, a scarcity of transactions leading to a lack of pricing discovery and widening bid/ask spreads. Some institutional investors were impacted by the “denominator effect,” resulting in an overweighting to real estate and the need for portfolio rebalancing. Additionally, to create bolster funds for other portfolio issues, some institutional investors entered redemption queues seeking liquidity. Broader capital market constraints reduced the availability of equity, while simultaneously driving a growing preference for structuring investments as debt rather than equity among those who remained active. During this period of muted transaction activity, private investors capitalized on the market’s dislocation. These investors increasingly prioritized their acquisition efforts toward newer vintage core and core-plus assets over value-add or development opportunities, reflecting a shift toward higher quality …

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Company NewsDevelopmentGeorgiaIndustrialSoutheast

Pilgrim’s to Invest $400M for Prepared Foods Facility in Northwest Georgia, Create 630 Jobs

by Abby Cox

LAFAYETTE, GA. — Pilgrim’s, a global food company primarily known for producing and processing chicken and pork, will invest $400 million for the construction of a new prepared foods facility located in the northwestern corner of Georgia in LaFayette, about 30 miles south of Chattanooga, Tenn. Situated within Walker County Business Park, the multi-phase development is expected to create more than 630 new jobs at full capacity. The project is scheduled to break ground in the fall, and hiring is expected to begin in 2027, aligning with the scheduled completion of the first phase of construction. Lori Dowdy, in partnership with the Walker County Development Authority and Georgia Quick Start, internally represented the Georgia Department of Economic Development’s (GDEcD) Global Commerce team in the Pilgrim’s deal. Pilgrim’s currently operates seven food production facilities across Georgia, employing roughly 7,500 people.

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Chiefland Regional Shopping Center
AcquisitionsFloridaRetailSoutheast

Coldwell Banker Arranges Sale of 140,664 SF Shopping Center in Chiefland, Florida

by Abby Cox

CHIEFLAND, FLA. — Locally based Coldwell Banker Commercial M.M. Parrish Realtors has arranged the sale of Chiefland Regional Shopping Center, a 140,664-square-foot retail center located in Chiefland, approximately 30 miles southwest of Gainesville, Fla. Bealls anchors the center, which was 95.6 percent occupied at the time of sale to tenants including Rent-A-Center, Tractor Supply Co., Subway, Metro by T-Mobile and a Winn-Dixie grocery store, which will soon be converted into an Aldi. This transaction marks the first time the property has been sold since its original development in 1989. Jim Michalak and Jeff Berkezchuk of Plaza Advisors represented the buyer, Georgia-based Vanguard Associates, in the deal. Coldwell Banker Commercial M.M. Parrish Realtors represented the undisclosed seller. The sales price was also not disclosed.

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The Weldon
DevelopmentGeorgiaMultifamilySoutheast

Alliance Residential Opens 330-Unit Multifamily Community in McDonough, Georgia

by Abby Cox

MCDONOUGH, GA. — Alliance Residential Co. has opened The Weldon by Broadstone, a 330-unit multifamily community located in McDonough, roughly 30 miles south of Atlanta. The project team included locally based Dynamik Design, which served as the architect and interior designer, and Planners & Engineers Collaborative, which served as the project’s civil engineer. Situated within metro Atlanta’s I-75 corridor, The Weldon features one- and two-bedroom apartments ranging in size from 810 square feet to 1,182 square feet, according to Apartments.com. Amenities at the complex include a resort-style saltwater swimming pool with in-pool lounge chairs, outdoor lounge seating, a covered outdoor entertainment area with grilling stations, 24-hour fitness center, coworking spaces, a clubroom with an entertainment kitchen, gated pet park, children’s playground and a mailroom featuring a Luxer One package locker. Private balconies will also be available to residents in select units. Rental rates begin at $1,383 for a one-bedroom apartment.

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Moxy Charlotte Uptown Hotel
DevelopmentHospitalityNorth CarolinaSoutheast

TMGOC Ventures Delivers 208-Room Moxy Hotel in Uptown Charlotte

by Abby Cox

CHARLOTTE, N.C. — TMGOC Ventures has delivered the Moxy Charlotte Uptown Hotel, a 208-room boutique hotel located in Uptown Charlotte. The hotel was delivered in collaboration with general contractor BL Harbert International, ODA Architecture and interior designer DLR Group. This hotel marks TMGOC Ventures’ second ground-up Moxy project, as well as its 18th operating hotel in its national portfolio. Lexima Lodging manages the property, which features a 24-hour fitness center, valet parking, a ground-floor Starbucks Coffee shop and nearly 7,000 square feet of flexible event space with indoor-outdoor connectivity and skyline views. Additional communal spaces at the hotel include the Bar Moxy, a rooftop lounge, and various breakout rooms. Moxy is a boutique hotel brand that Marriott International launched in partnership with IKEA.

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publix-northcarolina
Leasing ActivityNorth CarolinaRetailSoutheast

Pappas Properties Signs Publix to 50,000 SF Lease at Cadia Matthews Development in Metro Charlotte

by Abby Cox

MATTHEWS, N.C. — Development firm Pappas Properties has executed a 50,000-square-foot lease with Publix to anchor the retail component of Cadia Matthews, an 82-acre master-planned community located in Matthews, a southeastern suburb of Charlotte. The new Publix store will feature a full-service pharmacy with a drive-thru. Construction is scheduled to begin in summer 2026 and will employ approximately 150 associates upon completion. According to The Charlotte Observer, the store is expected to open by late 2027. Along with the Publix, Cadia Matthews will feature a mix of retail and dining options, as well as a community park with a performance stage. The Morgan Cos. represented Publix Super Markets in the lease negotiations.

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