BRISTOW, VA. — An affiliate of e-commerce giant Amazon, Amazon Data Services, has acquired a site in Prince William County for a future data center campus. The firm acquired the undeveloped site near Devlin Road and I-66 in Bristow for $700 million, according to Washington Business Journal. CoStar Group reports that Stanley Martin Homes, a Reston, Va.-based homebuilder, sold the 188-acre site to Amazon and that Eastdil Secured represented the land seller in the deal. Washington Business Journal reports that the Prince William Board of County Supervisors rezoned the site for data center development in November 2023 and has since been in a legal dispute, with the Court of Appeals of Virginia recently upholding the county’s original rezoning decision.
VIRGINIA BEACH, VA. — Affiliates of Norfolk, Va.-based Harbor Group International (HGI) have acquired Reflections at Virginia Beach for $86 million. The 480-unit, garden-style property was built in 1986 and spans 19 two- and three-story buildings across 30 acres. Units are offered as one- and two-bedroom floorplans. The seller was not disclosed. A $7 million renovation was recently completed at Reflections at Virginia Beach, updating amenities including a clubhouse, outdoor pool, 24-hour fitness center, business center with meeting rooms and outdoor grilling stations.
PALM BEACH GARDENS, FLA. — Gatsby Florida plans to develop The Modern at Palm Beach Gardens, a 220,000-square-foot office tower in South Florida. The real estate development firm plans to break ground on The Modern in January and deliver the eight-story property in late 2027. Darryl Kaplan of Darryl R. Kaplan Co. is handling the leasing of the project and has preleased approximately 25 percent of the tower’s gross leasable area. Gatsby Florida expects a “rapid lease-up” due to an expected exodus from New York City by major corporations. The Modern will feature a 10,000-square-foot fine dining restaurant, a 4,000-square-foot casual dining eatery and an additional 7,000 square feet of retail space situated under an adjacent 838-space parking garage. Planned amenities include a large rooftop patio with covered seating, a wet bar and restrooms, as well as a fitness center with full-service locker rooms and a media/conference center.
JACKSONVILLE, FLA. — MWI Property Group has delivered a new 192,924-square-foot industrial facility located at 9395 Pritchard Road in Jacksonville. The facility is situated within Westlake Commerce Center, which features a 337,104-square-foot building delivered earlier this year. Guy Preston, Seda Preston and John Cole of Colliers are leading the leasing and marketing efforts at the new facility. The property features 32-foot clear heights, 55 dock-high doors, 100 trailer positions, ESFR fire protection and 2,000-amp power.
NASHVILLE, TENN. — Boston-based Foxfield has purchased a 75,000-square-foot industrial facility located at 565 Brick Church Park Drive in Nashville. AllParts Medical, a subsidiary of Netherlands-based Philips that distributes medical imaging equipment and parts, has fully occupied the infill property since 2018 and recently renewed its lease. The previous owner has invested $3.5 million to upgrade the facility in recent years.
By Casey Smallwood of SRS Real Estate Partners The quick-service restaurant (QSR) industry is reshaping retail real estate by capitalizing on the “15-minute city” trend — a movement where people can access essentials within a short walk, bike ride or delivery window from home. This shift, fueled by evolving consumer behavior, urban densification and the rise of digital ordering, is pushing QSRs to prioritize hyper-local presence over traditional highway or regional ‘hubs. The result is a transformation in both real estate development and the metrics that define success in the foodservice sector. Embedding into daily life Hyper-localization is about placing restaurants within the flow of everyday life — close to where people live, work and socialize. Rather than clustering around big-box retail or commuter corridors, many brands now target neighborhood locations near apartment clusters, schools and small mixed-use developments. 7 Brew Coffee, a drive-thru-only brand, exemplifies this model. Its small footprint and fast service make it ideal for small lots and secondary intersection spots once overlooked by national tenants. These locations are now thriving due to residential growth and proximity to commuter paths. With minimal barriers to entry and an emphasis on quick-service, 7 Brew is establishing a strong local …
STAFFORD COUNTY, VA. — Vantage Data Centers will invest $2 billion to develop a 929,000-square-foot data center campus in Stafford County, which is situated near Fredericksburg, Va., and approximately 40 miles south of Washington, D.C. The new 192-megawatt (MW) campus, dubbed VA4, is situated just roughly 54 miles from Vantage’s three existing Virginia campuses in Northern Virginia’s “Data Center Alley” and brings the company’s statewide capacity to 782 MW with a combined investment of approximately $8 billion. Development of the new campus is expected to create 1,100 construction jobs and at least 50 permanent operations jobs. The first building at VA4 is scheduled to open in late 2027. VA4 will be built to achieve LEED Silver certification, in alignment with Vantage’s “sustainable by design” blueprint. The center will also utilize a closed-loop chilled water system that minimizes the need for large volumes of water. Additionally, VA4 will feature liquid-to-liquid cooling with coolant distribution unit (CDU) equipment, which can handle 100 percent of critical IT workloads.
CHESTER, VA. — Cushman & Wakefield | Thalhimer has negotiated the $8.9 million sale of The Shoppes at River Forest, a 30,070-square-foot, unanchored retail center located along Iron Bridge Road in Chester. Catharine Spangler of Thalhimer’s Capital Markets Group represented the seller, Prudent Growth Partners, in the transaction. Originally constructed in 2007 on roughly 3.7 acres, the property was 95 percent leased at the time of sale to 12 tenants including GameStop, Sweet Frog, State Farm and the U.S. Marine Corps.
LITHIA SPRINGS, GA. — Columbia Properties has acquired Village at Westfork, a 75,947-square-foot, grocery-anchored shopping center located in Lithia Springs, roughly 20 miles west of downtown Atlanta. Jim Hamilton, Brad Buchanan, Andrew Kahn and Charlie Merrigan of JLL represented the seller, KPR Centers, in the transaction. The purchase price was $14.2 million. Built in 1994, Village at Westfork comprises 12 tenant suites and was fully leased at the time of sale. A 54,322-square-foot Kroger anchors the property, which also houses JPMorgan Chase, The UPS Store, H&R Block and Cricket Wireless.
MABLETON, GA. — A partnership between Vista Residential Partners and Virtus Real Estate Group has secured construction financing for Mill Grove Vista, a 304-unit, garden-style apartment development located in Mableton, approximately 14 miles west of downtown Atlanta in Cobb County. The multifamily community will sit at the heart of a future 23.6-acre mixed-use development that will feature a civic building, townhomes and retail space, along with Mill Grove Vista. Nationwide Mutual Insurance Co. will provide financing for the project. Apex Multifamily Construction, a Vista affiliate, will serve as general contractor. Mill Grove Vista will feature a mix of one-, two- and three-bedroom apartments across 12 residential buildings. The average unit size will total roughly 917 square feet. Amenities at the community will include a fitness center, resort-style swimming pool, clubroom with a coffee bar, coworking spaces, parcel room, dog park and a playground. Vertical construction on Mill Grove Vista is anticipated to start early next year, with completion scheduled for the end of 2027.