TUSCALOOSA, ALA. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community located in Tuscaloosa. Built in 1994 and 2003, the property comprises 54 units. Dan Geraghty, Jeff Binder and Brad Clousing of SLIB represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
During his keynote address at InterFace I-85 Industrial Corridor, a two-day conference held May 19-20 at the Hilton Uptown Charlotte, Gregg Healy, executive vice president and head of industrial services at Savills, shared a quote from Charles Darwin to end his presentation. “It is not the strongest of the species that survives, nor the most intelligent, but the one most adaptable to change.” Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Industrial owners and developers have had to be adaptable given the haymakers issued by macroeconomic forces the past several years. During the COVID-19 pandemic, they rode the reinvigorated demand wave for e-commerce fulfillment with large-scale developments in key transportation corridors. In the following years, they scaled down their pipelines to focus on smaller, more targeted requirements as construction and capital costs rose significantly. And since Liberation Day, when the Trump administration declared a sweeping package of tariffs for foreign trade partners and specific commodities in April 2025, industrial developers have been building and leasing facilities for domestic and global manufacturers that were nearshoring their investments. Today, owners and …
ATLANTA — Pinnacle Financial Partners (NYSE:PNFP) has announced plans to establish a corporate headquarters at Ten Twenty Spring, a 525,000-square-foot office tower located in Midtown Atlanta. A partnership between locally based Portman and Perform Properties, a portfolio company of Blackstone Real Estate, developed the tower in 2024. Founded in 2000, Pinnacle offers a range of banking, investment, trust, mortgage and insurance products and services. The company merged with Synovus earlier this year. Pinnacle will occupy 165,000 square feet and have building signage at Ten Twenty Spring, which is situated within the Spring Quarter mixed-use district. The company will retain its bank headquarters in downtown Nashville and will relocate an estimated 400 team members to the new Atlanta office. Pinnacle’s existing footprint includes 46 locations in metro Atlanta. “We’re planting the flag for our new corporate headquarters in a building and neighborhood that match the energy we feel about our future and our opportunity for growth in Atlanta,” says Kevin Blair, president and CEO of Pinnacle. Stream Realty Partners represented the building ownership in the lease negotiations. CBRE represented Pinnacle, which plans to occupy its new space in the second half of 2027. Consulting giant EY also recently signed a lease at Ten …
SUFFOLK AND CHESAPEAKE, VA. — JLL has negotiated the sale of a four-building industrial portfolio situated near the Port of Virginia in the Hampton Roads region of the Commonwealth. NorthPoint Development purchased the 655,852-square-foot portfolio from an affiliate of Equus Capital Partners Ltd. Bill Prutting, Chris Dale, Craig Childs, Ginna Wallace and Andrew Baquero of JLL represented the seller in the transaction. The sales price was not disclosed. The portfolio comprises distribution facilities located at 6900, 6920 and 6950 Harbour View Blvd. in Suffolk and 2601 Indian River Road in Chesapeake. The properties were built between 2005 and 2012 and were 82 percent occupied at the time of sale to 10 tenants.
FAYETTEVILLE, N.C. — Obrecht Properties LLC has purchased 30 acres adjacent to Fort Bragg, a U.S. military base spanning 160,000 acres in central North Carolina. The Maryland-based developer plans to develop The Gateway at Military Business Park, a six-property industrial park spanning 325,550 square feet, on the site at 2755 Procurement Circle in Fayetteville. The park represents Obrecht’s entry into North Carolina. The developer plans to break ground immediately on Phase I, which will comprise two single-story buildings totaling 52,500 square feet, with plans to deliver the first phase next summer. Obrecht has tapped Neil Grant and Roger Marx of Grant-Murray Real Estate to oversee leasing at The Gateway at Military Business Park.
ORLANDO, FLA. — Marcus & Millichap has brokered the $19.5 million sale of Westgate Square, a 136,189-square-foot, grocery-anchored shopping center located at 2625 Hiawassee Road in Orlando. Salim Valiani and Yassin Benkabbou of Marcus & Millichap represented the seller, a private high-net-worth individual from South Florida, in the transaction. The buyer was also not disclosed. Built in 1981 and renovated in 1990, Westgate Square was fully leased at the time of sale to Bravo Supermarket, Goodwill, Family Dollar and Hibbett Sports.
BRADENTON, FLA. — SRS Real Estate Partners has arranged the $10.9 million sale of Heritage Station, a 13,538-square-foot retail strip center located in Bradenton. Spanning nearly three acres across two buildings, the newly constructed property was fully leased at the time of sale to tenants including Aspen Dental, Chipotle Mexican Grill, Five Guys, Einstein Bros. Bagels and America’s Best Contacts & Eyeglasses. Heritage Station sits adjacent to Marketplace at Heritage Harbour, a 500,000-square-foot shopping center. William Wamble and Patrick Nutt of SRS represented the seller and developer of the property, a joint venture between SREG, an Atlanta-based retail developer, and Bones Investment Group, a private real estate fund for professional athletes based in Tampa. The buyer was a Minnesota-based private investor.
DURHAM, N.C. — A partnership between Hines and an Ares Real Estate fund has begun construction on Parkside Commerce Center, a four-building industrial park spanning 809,141 square feet in Durham. The project will be situated along Silicon Drive and sit adjacent to Research Triangle Park. The co-developers have tapped Foundry Commercial to lead leasing and marketing at Parkside Commerce Center, which will be developed in two phases. Phase I, which is slated to deliver in fourth-quarter 2027, will include Building 1 (a 237,824-square-foot rear-load facility) and Building 2 (a 283,724-square-foot rear-load building). Both buildings will feature 36-foot clear heights and 63 trailer stalls. Phase II will include Building 3 (a 172,289-square-foot facility) and Building 4 (a 115,304-square-foot property), both of which will have 32-foot clear heights.
ATLANTA — Newmark has arranged a $53 million loan for the refinancing of The American Hotel Atlanta Downtown, a 315-room hotel located at 160 Ted Turner Drive NW in downtown Atlanta. The property dates back to 1962 as downtown Atlanta’s first integrated hotel and today is affiliated with Hilton’s Tapestry Collection. Chris Kramer, Tyler Dumon, Tate Keir and Jordan Roeschlaub of Newmark arranged the loan through Structured Hotel Capital on behalf of the borrower, locally based The RADCO Cos. The owner recently executed an $11.3 million renovation for The American Hotel Atlanta Downtown’s guestrooms, public spaces, food-and-beverage options and amenities, which includes a fitness center, outdoor pool and 13,300 square feet of event space. The hotel is situated within close proximity to the Georgia World Congress Center, Centennial Olympic Park, Mercedes-Benz Stadium, State Farm Arena, the Georgia Aquarium, College Football Hall of Fame and the World of Coca-Cola.
LAKE CHARLES, LA. — Muss Development LLC and Amesbury Cos. have acquired Erdace Apartments, a 270-unit multifamily community in downtown Lake Charles. The seller and sales price were not disclosed. The co-owners assumed a HUD-insured loan as part of the acquisition and have launched a multimillion-dollar renovation of the property, which will be rebranded as The Ryan Apartments. The capital improvement program includes upgrades and redesigns of the lobby, façades, hallways and balconies. Erdace Apartments offers studio, one- and two-bedroom apartments, as well as a clubhouse, lounge, café, fitness center, business center, indoor and outdoor pavilions and a large outdoor swimming pool.