Monday, June 23, 2025
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DevelopmentLeasing ActivityMixed-UseRestaurantRetailSoutheastVirginia

Hoffman & Associates Signs Four New Restaurants to Join West Falls Mixed-Use Project in Metro D.C.

by John Nelson

FALLS CHURCH, VA. — Hoffman & Associates has signed four new restaurant concepts to join the tenant roster at West Falls, a 10-acre mixed-use development in Falls Church, roughly 10 miles west of Washington, D.C. The new eateries include Ice Cream Jubilee, BurgerFi, Honoo Ramen Bar and Dok Khao. These restaurants will join other West Falls tenants that are now open, including Mason’s Famous Lobster Rolls, Chase Bank, Tierra Encantada, Perspire Sauna Studios, CityDance Studios and Levine Music. In addition to shops and restaurants, West Falls will include The Oaks (condominiums), The Reserve at Falls Church (seniors housing) and The Alder (market-rate apartments), as well as a central greenspace called The Commons.

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AcquisitionsGeorgiaOfficeSoutheast

Landmark, Westlake Capital Acquire 536,547 SF Office Campus in Atlanta’s Buckhead District

by John Nelson

ATLANTA — A joint venture between a nationally prominent developer of student housing, Landmark Properties, and its family office, Westlake Capital, has acquired Northcreek Office Park, a 536,547-square-foot office campus in the Buckhead neighborhood of Atlanta. Richard Reid of JLL represented the seller in the transaction. The sales price was also not disclosed. Landmark Properties plans to utilize some of the office space to accommodate its growing Atlanta workforce while maintaining its headquarters in Athens, Ga., as well as its existing executive offices at nearby Buckhead Plaza. Situated on about 40 acres, the four-building campus was renovated from 2003 to 2009 and comprises a roster of more than 70 tenants. The property features a range of onsite amenities including a café, conference and meeting facility, fitness center and 24/7 security with key-card access. Landmark plans to revitalize the common area within Northcreek Office Park to enhance tenant amenities. Additionally, Regent Partners will relocate its corporate office to Northcreek Office Park to continue serving as its property manager and leasing agent.

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Build-to-RentDevelopmentMultifamilySingle-Family RentalSouth CarolinaSoutheast

Center Park Group to Deliver 155 Build-to-Rent Townhomes in Charleston’s West Ashley Neighborhood

by John Nelson

CHARLESTON, S.C. — Center Park Group has announced that it is on track to complete the vertical construction of 155 build-to-rent townhomes at Bellerose at Bees Ferry by mid-April. Located within the West Ashley neighborhood of Charleston, the 17-acre, pet-friendly community will offer townhomes that total 1,400 square feet with three bedrooms, two-and-a-half baths and an attached one-car garage. Amenities include a swimming pool with lounge chairs, dog park, an open-air pavilion and walking paths, as well as onsite maintenance and management. Atlanta-based RangeWater Real Estate is the developer. Framing for the project began in October 2023, and Center Park Group has delivered each townhome building with the goal to complete the project in under 18 months. Center Park Group managed construction of the community dog park, the mail kiosk and landscaping, while Linden Construction oversaw construction of the community pool and clubhouse. RangeWater is overseeing property management at Bellerose at Bees Ferry in-house.

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FloridaLoansMultifamilySoutheast

Berkadia Provides $23.2M Loan to Refinance Multifamily Community in Metro Orlando

by John Nelson

FERN PARK, FLA. — Berkadia has provided a $23.2 million Freddie Mac loan to refinance Advenir at Magnolia, a 272-unit multifamily community located in the Fern Park suburb of Orlando. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez and Shannon Wilson of Berkadia’s Miami office originated the financing on behalf of the borrower, an entity doing business as Advenir@Magnolia LLC. The five-year, fixed-rate agency loan includes an extended interest-only period and a 60 percent loan-to-value ratio. Situated on 13 acres, Advenir at Magnolia is a two-story, garden-style property that comprises a mix of studio, one- and two-bedroom apartments averaging approximately 800 square feet in size. Amenities at the property include two resort-style pools, two basketball courts, three racquetball courts, a lighted tennis court, grilling stations, a 24/7 fitness center, business center and laundry facilities.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers Sale of 81,082 SF Shopping Center in Tallahassee

by John Nelson

TALLAHASSEE, FLA. — Marcus & Millichap has brokered the sale of Market Square, an 81,082-square-foot shopping center located in Tallahassee’s Market District, roughly four miles from Florida State University. The asset traded for more than $330 per square foot. The property — which was originally built in 1977 and renovated in 2021 — is anchored by a 22,000-square-foot REI. Additional tenants at the property include Sanitas Medical Center, Connors Steak & Seafood, a medical spa and Southern Seafood Market. Alvin Mansour and Jon Talia of The Mansour Group of Marcus & Millichap represented the private seller and procured the Florida-based buyer in the transaction. Ryan Nee is Marcus & Millichap’s broker of record in Florida.

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GeorgiaLeasing ActivityOfficeSoutheast

Law Firm Moves Atlanta Office to Promenade Tower in Midtown With 61,470 SF Lease

by John Nelson

ATLANTA — Business law firm Bradley Arant Boult Cummings LLP has signed a 61,470-square-foot lease to officially move its Atlanta office to a newly renovated office suite in Promenade Tower, which is located at 1230 Peachtree St. NE in Midtown. The firm will occupy floors 19-21. Owned by Cousins Properties, the 777,050-square-foot office tower offers conference facilities, enhanced technology, flexible workspaces and a range of amenities including a fitness center, onsite dining options and direct access to public transit. Bradley has grown from 20 attorneys to 58 attorneys since launching its Atlanta office in May 2023.

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AlabamaMarket ReportsOfficeSoutheastSoutheast Market Reports

Birmingham’s Office Market: Steady, Resilient and Ready for What’s Next

by John Nelson

Birmingham’s office market is holding its own with overall market occupancy at 82.6 percent as of fourth-quarter 2024. We saw a slower second half of the year, but that is to be expected during a presidential election year when companies often hit pause on significant real estate decisions.  During the fourth quarter, Birmingham’s multi-tenant office market recorded negative absorption of 67,739 square feet, but that was a notable improvement from the negative 268,061 square feet recorded the previous quarter.  Leasing activity for the quarter came in at 180,849 square feet, bringing the year-to-date total to just over 562,000 square feet — about 22 percent below the previous year’s pace. While definitely a slowdown, this performance is nothing out of step with the broader national trends. Signs of positive momentum The good news? Since the start of 2025, activity has picked up across the board. Tenants are back in the market touring space and rethinking their long-term office needs. Some are expanding, some are rightsizing to space that better fits how they work today and others are updating their office protocols to bring employees back in more regularly — all of which is driving movement in the market.  In addition, several …

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DevelopmentMultifamilyNorth CarolinaRestaurantRetailSoutheast

Portman, National Real Estate Advisors Complete Construction of 24-Story Apartment Tower in Charlotte

by John Nelson

CHARLOTTE, N.C. — Portman and National Real Estate Advisors have completed construction of Linea, a 24-story apartment tower located in Charlotte’s South End neighborhood. Situated at 2161 Hawkins St. fronting the city’s Rail Trail, the high-rise features 370 luxury units and 18,000 square feet of ground-floor retail space. Ranging from 522 to 1,723 square feet in size, apartments at Linea include studio, one-, two- and three-bedroom floorplans, as well as 13 penthouses. Amenities at the property include 24/7 concierge services like in-home/package delivery, in-home grocery and dry-cleaning delivery and plant and cat care. The complex also includes a 23rd-floor community level featuring spaces such as the Overlook Lounge, Entertainment Hub, Billiard Parlor, The Sound Lounge and dining spaces, as well as a Skyline Athletic Club with a two-story rock-climbing wall, Echelon Mirrors, private fitness rooms and customizable wellness programs. Confirmed retail and restaurant tenants at Linea include Half Shell, True Food Kitchen, Peachy Salon and Night Swim Coffee, with Night Swim Coffee slated to open this spring. Additional retailers will be announced in the coming weeks. Foundry Commercial is handling Linea’s retail leasing assignment on behalf of ownership. Atlanta-based Portman and Washington, D.C.-based National Real Estate Advisors are the co-developers …

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DevelopmentFloridaMultifamilySoutheast

Thompson Thrift Opens 300-Unit Multifamily Community Near Orlando

by John Nelson

LADY LAKE, FLORIDA — Thompson Thrift has recently hosted a ribbon cutting ceremony for Standard441, a new 300-unit multifamily community in the Orlando suburb of Lady Lake. Standard441 is located off Highway 441 on the northeast side of the larger The Villages master-planned community, across the street from the UF Health Spanish Plaines Hospital. The three-story complex offers one-, two- and three-bedroom floorplans ranging in size from 689 square feet to 1,369 square feet, according to Apartments.com. Private yards, upgraded unit options, detached garages and Alexa-compatible smart home packages are also available to residents. Amenities at the property include a fully equipped, 24-hour fitness center, resort-style heated swimming pool, outdoor spa, outdoor swimming pool pavilion with a fireplace and grills, pickleball court, putting green and cornhole area, dog park and a pet spa. The complex also offers a 24-hour social hub, work-from-home focus suites and electric vehicle charging stations. Rental rates for the property start at $1,360. Thompson Thrift began welcoming residents at Standard441 during winter 2024, with completion slated for the end of the summer.

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DevelopmentFloridaIndustrialLoansSoutheast

JLL Arranges $25.8M Construction Financing for Speculative Industrial Project in Metro Tampa

by John Nelson

SAN ANTONIO, FLA. — JLL Capital Markets has arranged $25.8 million in construction financing for Phase I of Park 52 Logistics North, a 299,030-square-foot speculative industrial project in the metro Tampa . Melissa Rose, Michael DiCosimo, Justin Ratcliffe and Nicole Barba of JLL arranged the three-year, floating-rate construction loan on behalf of the borrower, McCraney Property Co. Scheduled for completion in November, the 78-acre project will comprise three rear-load buildings ranging from 80,745 square feet to 130,865 square feet. Additionally, each building will feature four drive-in doors and car parking spaces and 24- to 30-foot clear heights, as well as suite sizes that can accommodate up to 46,000 square feet. Located with direct frontage along State Road 52 in San Antonio, Park 52 Logistics North is adjacent to the 965-acre Double Branch master-planned mixed-use community, which is expected to generate $600 million in economic impact, according to JLL.

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