Saturday, February 7, 2026
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AcquisitionsFloridaRetailSoutheast

SRS Brokers $4.6M Sale of New Strip Retail Center in Clearwater, Florida

by John Nelson

CLEARWATER, FLA. — SRS Real Estate Partners has brokered the $4.6 million sale of a strip retail center located at 2420 Gulf to Bay Blvd. in Clearwater, a suburb of Tampa. Situated within a mile from Clearwater Mall, the 6,750-square-foot property is fully leased to three tenants on long-term leases: Jersey Mike’s Subs, My Eye Dr. and MD Now Urgent Care. An unnamed South Florida-based private investor purchased the property at a 6.2 percent cap rate. Patrick Nutt and William Wamble of SRS represented the seller, an unnamed developer based in Florida, in the transaction.

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Leasing ActivityMarylandRetailSoutheast

Continental Realty Corp. Signs Crunch Fitness to 30,973 SF Retail Lease in Hagerstown, Maryland

by John Nelson

HAGERSTOWN, MD. — Continental Realty Corp. (CRC) has signed Crunch Fitness to a 30,973-square-foot retail lease in Hagerstown, a suburb of Washington, D.C. The fitness concept will backfill a former Bed Bath & Beyond space at Centre at Hagerstown, a nearly 300,000-square-foot regional shopping center located at 17850 Garland Groh Blvd. The lease brings the occupancy rate of the shopping center to 97 percent. Melissa Sweeney of CRC, along with Matt Copeland and Michael Patz of KLNB Retail, represented the landlord in the lease deal. Ryan Wilner of KLNB Retail represented the tenant.

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DevelopmentFloridaRestaurantRetailSoutheastTop Stories

Burger King to Invest $300M to Remodel 1,100 US Restaurants by 2028

by John Nelson

MIAMI — Burger King plans to invest $300 million to modernize 1,100 U.S. restaurants by 2028, according to parent company Restaurant Brands International Inc. (NYSE: QSR). Each restaurant will be renovated in a new layout, called Sizzle, that emphasizes flexibility as well as the digital, pick-up and drive-thru experiences. In addition to the planned renovations, the investment will also cover cash incentives for top-performing operators. “We are committed to giving our guests the very best experience in all our restaurants and that includes a modern, exciting restaurant image and digital experience that exceeds their expectations,” says Tom Curtis, president of Burger King North America. “We are working in close partnership with our franchisees to transform our restaurant footprint across the country and reclaim our flame as a leader in the QSR [quick-service restaurant] industry.” The newly announced initiative, dubbed Royal Reset 2.0, is a continuation of its existing Royal Reset program announced in 2022 that included a $250 million investment in overhauling the physical real estate, tech and kitchen equipment at thousands of Burger King locations. The first Royal Reset plan was part of a $400 million campaign, called Fuel the Flame, that also included $150 million in digital and …

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DevelopmentHospitalityMixed-UseRestaurantRetailSoutheastVirginia

Bruce Smith Enterprise, Cordish Cos. Selected to Develop $1.4B Gaming and Entertainment District in Petersburg, Virginia

by John Nelson

PETERSBURG, VA. — The City of Petersburg has selected Bruce Smith Enterprise and The Cordish Cos. to co-develop a $1.4 billion gaming and entertainment district at the intersection of Wagner Road and I-95 in Petersburg, roughly 24 miles south of Richmond. The Petersburg City Council unanimously approved the joint venture partnership, which responded to a request for proposal (RFP) issued by the city as the preferred development partner on the mixed-use project. Upon completion, Live! Casino & Hotel Virginia will comprise more than 400,000 square feet of gaming, hotel and dining space, as well as 35,000 square feet of meeting and convention space; a 200-room hotel; 1,600 slot machines; 46 table games; a sportsbook; 3,000-seat entertainment venue; and eight food-and-beverage options. The property will be developed, owned and managed by an entity doing business as Petersburg Community Development Investors LLC. According to the developers, the project will create an expected 7,500 new jobs and generate $2.8 billion in economic stimulus within the first 10 years. Projections also include $504 million in tax revenues, including $240 million to the City of Petersburg; $802 million in economic benefits during construction; and $201 million in annual economic benefits each year after opening.

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DevelopmentKentuckyMixed-UseRetailSoutheast

RD Property Group to Break Ground on 122,000 SF Kroger Marketplace at Newton Springs in Lexington, Kentucky

by John Nelson

LEXINGTON, KY. — RD Property Group is underway on the development of a 34-acre mixed-use development located in Lexington. The City of Lexington recently certified plans for the construction of a 122,000-square-foot Kroger Marketplace at the project, dubbed Newton Springs. Plans for the store include a drive-thru pharmacy, adjoining wine and spirits shop and 476 parking spaces. The development also features a recently opened Everhome Suites hotel, as well as two four-story buildings, a restaurant space and three additional buildings. Tenants at the property include Estepp’s Shell, Jimmy Johns, Hot Head Burritos, The UPS Store, Tire Discounters and Starbucks Coffee.

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DevelopmentGeorgiaMixed-UseOfficeRetailSoutheast

Jamestown Completes 115,000 SF Mass Timber Mixed-Use Building at Ponce City Market in Atlanta

by John Nelson

ATLANTA — Atlanta-based Jamestown has completed 619 Ponce, a 115,000-square-foot mass timber building located on the corner of Ponce de Leon Ave. and Glen Iris Drive within the Ponce City Market campus in Atlanta. Pottery Barn has opened within an 18,000-square-foot retail space on the ground floor, and business tech firm Sage has leased 57,000 square feet of office space within the building for its North America headquarters. Amenities at the property — which will target net-zero carbon operations, LEEDv4 Core & Shell certification and Fitwel certification — include onsite daycare and medical facilities, as well as direct access to the Atlanta BeltLine. The design-build team for the project included Handel Architects, JE Dunn and StructureCraft. Marking the first Georgia-grown mass timber building, the property features outdoor space on every level, natural wood columns and ceilings and floor-to-ceiling windows with operable panels. Jamestown owns and manages more than 100,000 acres of timberlands across Georgia, Alabama, South Carolina, New York, Pennsylvania and Indiana. 

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AcquisitionsIndustrialSoutheastTennessee

Strato Capital Acquires 771,000 SF Warehouse in Western Tennessee

by John Nelson

JACKSON, TENN. — Strato Capital has acquired a 771,000-square-foot warehouse located in Jackson, a western Tennessee city that sits between Nashville and Memphis via I-40. Strato Capital purchased the asset in a joint venture with an institutional family office. Located on 80 acres within an industrial park, the property features 32-foot clear heights, ESFR sprinklers, a 400-foot truck court and developable land on the site. A publicly traded entity has occupied the building, which was originally a build-to-suit, for 20 years.

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AcquisitionsGeorgiaRetailSoutheast

Marcus & Millichap Brokers $8.4M Sale of Retail Center in Metro Atlanta

by John Nelson

JOHNS CREEK, GA. — Marcus & Millichap has brokered the $8.4 million sale of Jones Bridge Triangle, a retail center located in Johns Creek, roughly 30 miles northeast of Atlanta. The unanchored property, which totals 33,133 square feet, was fully leased to 15 tenants at the time of sale. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor.

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Market ReportsMarylandMixed-UseRetailSoutheastSoutheast Market Reports

Adaptive Reuse Projects, Value-Oriented Concepts Star in Baltimore’s Retail Story

by John Nelson

Mirroring sentiments expressed at the year-end ICSC conference in New York City, with the national vacancy rate hovering around 5 percent and new concepts anxious to take a foothold in the area, there continues to be tremendous optimism for the retail sector in the greater Baltimore metropolitan region.  Although ground-up development projects remain rare locally, several high-profile adaptive projects are in the works that are placing smiles on brokers’ faces because they have something to lease. Value-oriented retailers, together with quick-service restaurant (QSR) concepts, are showing the most activity.  Adaptive reuse The redevelopment of the iconic Harborplace festival marketplace (more on that later) is grabbing all the headlines in Charm City, but the adaptive reuse of Baltimore’s Penn Station — the epitome of a transit-oriented development and the renovation of a historic industrial building at Riverside in South Baltimore — are happening now.  Beatty Development Group and Cross Street Partners are partnering with Amtrak to transform the train station originally developed in 1911 into a mixed-use project combining 1 million square feet of commercial office, retail and residential space. Destination retail and restaurants are a central core of the program. Urban Pastoral and The Wilhide Family are transforming the 135-year-old …

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DevelopmentGeorgiaIndustrialSoutheast

Brightmark to Develop $950M Recycling Facility in Central Georgia

by John Nelson

THOMASTON, GA. — Brightmark LLC, a recycling solutions company based in San Francisco, has announced plans for a $950 million recycling facility project in Thomaston, about 65 miles south of Atlanta. Upon completion, the “circularity center” will comprise 2.5 million square feet with the capacity to repurpose 400,000 tons of plastic per year. According to the company, the project will create 200 advanced manufacturing jobs in the central Georgia area. Plans include a $20 million investment in additive infrastructure in Thomaston, with upgrades to utilities, roadway improvements, rail access extensions and other improvements.

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