Friday, October 10, 2025
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AcquisitionsRetailSoutheastVirginia

Atlantic Capital Negotiates $12.1M Sale of Woodford Square Shopping Center in Chesapeake, Virginia

by John Nelson

CHESAPEAKE, VA. — Atlantic Capital Partners has negotiated the $12.1 million sale of Woodford Square, an 85,323-square-foot shopping center located in the Hampton Roads city of Chesapeake. Harbor Freights anchors the center, which was fully leased at the time of sale to tenants including Dollar General, Hair Cuttery, Roses Discount Store, Dragon China Restaurant and Med Emporium, among others. Fred Victor of Atlantic Capital represented the seller, New York-based Moxie Equities, in the transaction. The buyer was United Properties.

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Company NewsGeorgiaSoutheast

Colliers Savannah Office Expands Team With Four New Hires

by John Nelson

SAVANNAH, GA. — Colliers’ Savannah office has hired four new professionals: Craig White as director of property management, Ryan Bergman as brokerage associate, Matt Reynolds as research analyst and Sarah Cunningham as marketing coordinator. White will direct Colliers’ property management division, which now oversees 16.2 million square feet space across the region. He has over 30 years of property management experience. Bergman will help expand Colliers’ brokerage team; Reynolds will expand the research team, providing market analytics, quarterly reporting and custom client insights; and Cunningham will provide support across a range of initiatives, including property listings, social media, email campaigns and project coordination. “As the Savannah market continues to evolve, we are committed to staying ahead of our clients’ needs,” says Hilary Shipley, principal at Colliers’ Savannah office. “With these strategic additions, we’re not only expanding our capabilities but also reinforcing our position as the market leader in commercial real estate services.”

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FeaturesNorth CarolinaSoutheastSoutheast Feature Archive

North Carolina Allows Look-Back Property Tax Exemption for Religious Uses

by John Nelson

By Gib Laite, Esq. of Williams Mullen North Carolina has little sympathy for taxpayers that miss filing deadlines, but a new law eases the potential repercussions for property owners otherwise qualifying for religion-based tax exemptions. Under the new measure, taxpayers can apply for the religious exemption from property taxes going back five years from the law’s adoption date earlier this year. It will be interesting to see whether the General Assembly extends a similar grace period to other exemptions over time. Regardless, the new measure provides welcome relief to a segment of taxpayers and offers a possible model for lawmakers to adjust the regulation of other exemptions down the road, if they choose to do so. And for all taxpayers, the recent change provides a good opportunity to review how North Carolina grants and regulates property tax exemptions. Machinery of Taxation As a rule, North Carolina subjects all real and personal property to property tax unless the General Assembly or the state constitution exempts the property, or it falls into a special class of exempted property. Most exemptions are set out in the Machinery Act, a framework of tax rules within the North Carolina General Statutes. The Machinery Act allows …

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DevelopmentIndustrialNorth CarolinaSoutheast

Walmart to Invest $300M for Fulfillment Center in Suburban Charlotte

by Abby Cox

KINGS MOUNTAIN, N.C. — Walmart Inc. has announced plans to invest $300 million for a 1.2 million-square-foot fulfillment facility located in Kings Mountain, approximately 30 miles west of Charlotte. The project, which is expected to create more than 300 jobs, is scheduled to open in 2027. The fulfillment center will ship large items, such as patio furniture and lawnmowers, directly to customers. The Keith Corp. delivered the industrial building, dubbed Kings Mountain Corporate Center, in late 2023. The project will be facilitated by a Job Development Investment Grant (JDIG), which was awarded to Walmart Fulfillment Services LLC and approved by the state’s Economic Investment Committee. In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other partners in this project include the North Carolina General Assembly, the North Carolina Community College System, N.C. Commerce’s Division of Workforce Solutions, the City of Kings Mountain, Gaston County and the Gaston County Economic Development Commission.

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Red Bird Center
AcquisitionsFloridaRetailSoutheast

JLL Arranges $62.1M Sale of Red Bird Shopping Center in Miami

by Abby Cox

MIAMI — JLL Capital Markets has arranged the $62.1 million sale of Red Bird Center, a 92,089-square-foot retail center located at the intersection of Bird and Red roads in Miami. Milam’s Markets, a regional grocer based in South Florida, anchors the property, which was fully occupied at the time of sale. Additional tenants at the center include Walgreens, Orion Fuels and Ace Hardware. Danny Finkle, Jorge Portela and Kim Flores of JLL’s Investment Sales and Advisory team represented the seller, Red Bird Associates, in the transaction. The buyer was Charlotte-based Asana Partners.

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Academy Sports + Outdoors
AcquisitionsLouisianaRetailSoutheast

SRS Negotiates $10.4M Sale of Retail Property in Shreveport, Louisiana Leased to Academy Sports

by Abby Cox

SHREVEPORT, LA. — SRS Real Estate Partners has negotiated the $10.4 million sale of a single-tenant retail property in Shreveport leased to Academy Sports + Outdoors. The Texas-based sporting goods retailer occupies the 72,525-square-foot building on an absolute triple-net, corporate-guaranteed lease with 13 years remaining. Built in 2018, the property is situated on roughly 7.7 acres. Michael Berk, Patrick Nutt and Chip Watson of SRS’ Capital Markets team represented the seller, a private investor, in the transaction. The buyer was a publicly traded REIT. Both parties requested anonymity.

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VOX
FloridaLoansSoutheastStudent Housing

TREO Group Receives $132M Financing for Student Housing Community Near University of Miami

by Abby Cox

MIAMI — Affiliates of TREO Group have received $132 million in financing for VOX I and VOX II, a two-building student housing community located at 7025 and 7175 S.W. 59th Ave. near the University of Miami campus. Ocean Bank provided the financing for the 726-bed property. The community offers 262 units in one- through four-bedroom floorplans with bed-to-bath parity. Amenities include two rooftop terraces, swimming pools, five fitness areas, 20 study lounges and an outdoor summer kitchen. The property also features 15,682 square feet of retail space. 

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429-Business-Center
DevelopmentFloridaIndustrialLeasing ActivitySoutheast

Stonemont Financial Completes 259,255 SF Industrial Complex in Metro Orlando

by Abby Cox

OCOEE, FLA. — Stonemont Financial Group has completed 429 Business Center, a 259,255-square-foot industrial complex located in Ocoee, roughly 10 miles outside Orlando near Walt Disney World. HGR Construction Inc. served as general contractor on the project. Cam Montgomery and Matt Sullivan of JLL are handling leasing efforts for 429 Business Center on behalf of Stonemont. 429 Business Center comprises seven buildings and features 20- to 32-foot clear heights, with rear- and front-load options. The facility is currently 49 percent preleased, with buildings 200 and 600 already fully occupied. Atlanta-based Stonemont owns more than 4.4 million square feet of industrial development across Florida and is nearing completion on a 100,698-square-foot facility near Tampa.

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KentuckyMarket ReportsRestaurantRetailSoutheastSoutheast Market Reports

Grocery Anchors Continue to Fuel Louisville’s Retail Market

by John Nelson

Louisville’s retail market continues to show strength in 2025, with grocery anchors driving much of the momentum. Despite national headwinds such as moderating rent growth and elevated construction costs, the metro has proven resilient, posting a vacancy rate of just 3.5 percent, outperforming the national benchmark of 4.8 percent, according to CoStar Group. Asking rents averaged $17.42 per square foot, reflecting steady demand across the region. At the center of this activity are grocers like Kroger, Publix and BJ’s Wholesale Club, each reshaping Louisville’s retail landscape in unique ways.  Kroger is deepening its footprint with multiple new stores, including a 123,000-square-foot location under construction on Beulah Church Road that is scheduled to open in 2026.  Publix, one of the most closely watched entrants to the Kentucky market, has expanded aggressively after opening its first store, securing 60,000 square feet at Blankenbaker Plaza and 56,000 square feet at Prospect Point.  BJ’s Wholesale Club has adopted a redevelopment approach, razing the former Sears building at Jefferson Mall to deliver a 104,000-square-foot store that opened earlier this year.  Collectively, these projects underscore the draw of essential, needs-based retail while fueling complementary leasing activity in their surrounding trade areas. Concepts gaining ground That momentum …

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DevelopmentMixed-UseOfficeRestaurantRetailSoutheastTennessee

Joint Venture Opens 300,000 SF Mixed-Use Building at McEwen Northside in Metro Nashville

by John Nelson

FRANKLIN, TENN. — A joint venture between Boyle Investment Co., Northwood Investors and Northwood Ravin has opened Block E, a new 300,000-square-foot mixed-use building in Franklin, a city in Nashville’s Cool Springs district. The nine-story, $125 million property is one of the anchors of the McEwen Northside mixed-use development. Block E features a modern training room, full-service fitness center, offices, ground-level retail space and a parking garage. Office tenants include TMPartners PLLC, also the project’s architect, and Designed Conveyor Systems, a supply chain company. Retail tenants include Culinary Dropout, Oak Hall and Hawkers Asian Street Food. In addition to TMPartners, the design-build team includes civil engineer Kimley-Horn and general contractor Hoar Construction. Northwestern Mutual partnered with Boyle Investment, Northwood Investors and Northwood Ravin on the project.

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