Southeast

Walmart Plans to Add 150 New Stores, Remodel 650 Existing Locations

by Katie Sloan February 1, 2024

BENTONVILLE, ARK. — Walmart (NYSE: WMT) has announced plans to expand by more than 150 new stores over the next five years, both through new construction and converting existing buildings. The first two stores under this initiative — both under the company’s smaller-format Walmart Neighborhood Market banner — are scheduled to open this spring in Santa Rosa, Fla., and Atlanta. The company is currently finalizing plans for 12 new projects, one of which will be the conversion of a smaller existing location into a large-format Walmart Supercenter, which serves as both a grocery store and a full department store. Walmart simultaneously released plans to remodel 650 of its existing stores across 47 states and Puerto Rico over the next 12 months. The new and renovated locations will all feature the Bentonville-based company’s “Store of the Future” model, which includes improved layouts, expanded product selections and the integration of new technology. The “Store of the Future” features expanded pharmacies and updated vision centers, with pharmacies moved toward the front of the store; activated corners with product displays that allow customers to interact with items and visualize them in their lives; digital touch points throughout the store to provide information on products …

February 1, 2024

Development Georgia Multifamily Southeast

Geis Begins Construction on 180-Unit Apartment Community in Savannah

by John Nelson January 31, 2024

SAVANNAH, GA. — Geis Construction is underway on the development of The Exchange at Berwick, a 180-unit apartment community situated on a 12.6-acre site in Savannah. Geis is completing construction on behalf of the owner and developer, OV Development, a subsidiary of Olympus Ventures. The property will comprise five residential buildings and a detached clubhouse with a fitness center, social lounge and coworking space. Amenities at the community will also include a pool, playground, dog run and courtyards with grilling stations and fire pits. Completion is scheduled for the second quarter of 2025. The project team includes North Carolina-based architect BSB Design and locally based civil engineer Kimley-Horn.

January 31, 2024

Development Florida Seniors Housing Southeast

Belmont Village, Turnberry Break Ground on 11-Story Seniors Housing Community in Aventura, Florida

by John Nelson January 31, 2024

AVENTURA, FLA. — Belmont Village Senior Living has broken ground on Belmont Village Aventura in Aventura, a coastal city in Miami-Dade County. The 11-story project is being built in partnership with Turnberry and will be Belmont Village’s third location in South Florida. Located at 3510 Yacht Club Way, the property is scheduled to open in early 2026. This venture is Turnberry’s first collaboration with Belmont Village Senior Living. Spanning almost 180,000 square feet, Belmont Village Aventura will feature 153 independent living, assisted living and memory care apartments in a variety of studio, one-bedroom and two-bedroom floorplans. Belmont Village Aventura residents will enjoy panoramic views of the Atlantic Ocean, Intracoastal Waterway and Dumfoundling Bay. Corwil Architects is the lead architect and Moss Construction Management is the construction partner.

January 31, 2024

Build-to-Rent Development Multifamily Single-Family Rental Southeast Virginia

Partnership Begins Leasing Next Phase of Build-to-Rent Townhome Development in Ashburn, Virginia

by John Nelson January 31, 2024

ASHBURN, VA. — A partnership between American Real Estate Partners, GreenBarn Investment Group and Rithm Capital has begun the next wave of leasing at CityHouse Ashburn Station, a 200-unit build-to-rent luxury townhome development underway in metropolitan Washington, D.C. Bozzuto Management Co. is the property manager of the development, which is being delivered in phases. The latest phase adds 12 townhomes to the development, which is expected to fully deliver in early 2025. CityHouse Ashburn Station is situated near the Ashburn Metro Station and features three-bedroom, three-bathroom townhomes ranging in size from 1,544 to 2,486 square feet. All units feature dens, attached garages and oversized windows, and select units include 15-foot kitchen islands and rooftop terraces with outdoor fireplaces. Amenities include a sports court for pickleball or basketball, private playground, pavilion and outdoor kitchen with grills and dining areas, green space for yard games and a pet park. Dream Finders Homes is the general contractor for the project. Rental rates range from $3,495 to $5,590 per month, according to the CityHouse Ashburn Station website.

January 31, 2024

Acquisitions North Carolina Retail Southeast

Mack, Soundwater Acquire Grocery-Anchored Shopping Center in Cary, North Carolina

by John Nelson January 31, 2024

CARY, N.C. — A partnership between an affiliate of New York City-based Mack Real Estate Group (MREG) and Soundwater Properties has purchased Maynard Crossing, a grocery-anchored shopping center in Cary, a suburb of Raleigh. Built in 1996, the 122,901-square-foot property is located at the intersection of High House and N.W. Maynard roads. Maynard Crossing was 88 percent leased at the time of sale to tenants including Harris Teeter, Workout Anytime, Doctors Express, Riccobene Family Dentistry, Brigs Restaurant, Kathmandu Kitchen and All American Swim Supply, as well as a newly built outparcel gas station. Tom Kolarczyk, Danny Finkle, Jim Hamilton and Steele Burkett of JLL represented the undisclosed seller in the transaction. The sales price was not disclosed. MREG and Soundwater Properties will pursue their grocery-anchored retail acquisition strategy in markets throughout the East Coast.

January 31, 2024

Development Florida Mixed-Use Retail Southeast

Codina Partners to Add 25,000 SF of Retail Space to Downtown Doral in South Florida

by John Nelson January 31, 2024

DORAL, FLA. — Codina Partners will add 25,000 square feet of retail space to Downtown Doral, the developer’s 250-acre mixed-use community in Miami-Dade County. The new plans for Downtown Doral include the addition of 13 customizable retail units with a rooftop deck featuring amenities including pickleball courts. Plans also include 929 additional parking spaces. Established in 2005, the development features more than 40 existing restaurants and retailers, a cultural arts center, two charter schools, a library, government center and clinics operated by Baptist Health South Florida. Existing tenants include AT&T, Bulla Gastrobar, First American Bank, Hand and Stone Massage & Facial Spa, Mega Wine & Spirits, Publix, Sage Dental, Sweat 440 and The UPS Store, among others.

January 31, 2024

Development Georgia Multifamily Southeast

ECI Group, Griffin Fund Break Ground on $76M Apartment Community in Lawrenceville, Georgia

by John Nelson January 30, 2024

LAWRENCEVILLE, GA. — ECI Group and joint venture partner The Griffin Fund have broken ground on The Averly Collins Hill, a $76 million apartment development in Lawrenceville, a northeast suburb of Atlanta in Gwinnett County. The 300-unit, eight-building project will be situated on 22 acres at 700 Collins Road. ECI Construction is the general contractor for the project, and Synovus Bank is providing $46 million in construction financing. The project is planned to deliver concurrently with the nearby 15-story Northside Hospital Gwinnett healthcare tower, as well as a planned active adult housing development. Upon completion, The Averly Collins Hill will feature one-, two- and three-bedroom floor plans, as well as a clubhouse with a clubroom, fitness center, lounge areas and coworking space. Other amenities will include a pool, dog play area and a coffee bar.

January 30, 2024

Development Florida Mixed-Use Retail Southeast

Ryan Cos. Completes 59,657 SF Publix Store at Master-Planned Development in Wesley Chapel, Florida

by John Nelson January 30, 2024

WESLEY CHAPEL, FLA. — Ryan Cos. has opened a new Publix grocery store that serves as the anchor tenant of Innovations Commons, a retail center within the 900-acre Epperson Ranch master-planned development in Wesley Chapel. The city in Pasco County is part of the Tampa Bay metro area. In addition to Innovations Commons, Epperson Ranch will feature 4,000 single-family homes, a 200-room hotel and more than 500 apartments at full build-out. Innovation Commons will also include three outparcel developments slated for additional retail, restaurants and professional services.

January 30, 2024

Development Life Sciences Maryland Office Southeast

Rock Creek Delivers Two Life Sciences Facilities in Germantown, Maryland

by John Nelson January 30, 2024

GERMANTOWN, MD. — Bethesda, Md.-based Rock Creek Property Group has delivered two life science facilities at 20430 and 20440 Century Blvd. in Germantown, a suburb of Washington, D.C. Situated off I-270 in Rock Creek’s Precision Labs campus, the former office buildings span 32,000 and 52,000 square feet, respectively. Architectural firm Ware Malcomb designed the office-to-life sciences conversion project, which involved upgrading the buildings’ electrical, mechanical and wastewater infrastructure. The single-story facility at 20430 Century Blvd. features move-in ready space suitable for a single headquarters and includes offices and flexible space for laboratory, research-and-development and cGMP (current Good Manufacturing Practice) manufacturing. The two-story facility at 20440 Century Blvd. features six wet laboratory suites.

January 30, 2024

Development Industrial Maryland Office Southeast

St. John, Greenebaum to Develop 70,000 SF Industrial Project in Fulton, Maryland

by John Nelson January 30, 2024

FULTON, MD. — A joint venture between St. John Properties Inc. and Greenebaum Enterprises has purchased a 12.5-acre site within Montpelier Research Park, a business park in the Baltimore-Washington submarket of Howard County. The duo plan to develop two single-story, flex industrial facilities on the site spanning 70,000 square feet combined. Located adjacent to Maple Lawn and the Johns Hopkins University Applied Physics Laboratory in Fulton, the acquired site currently features a 32,488-square-foot office building that the new ownership is marketing for lease. Abby Glassberg and Don Schline of KLNB represented the seller in the land transaction. St. John and Greenebaum estimate they’ll deliver the two industrial facilities in 2026.

January 30, 2024

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