Monday, March 10, 2025
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AcquisitionsIndustrialSoutheastTennessee

Cushman & Wakefield Commercial Advisors Brokers $63M Sale of Memphis Industrial Facility

by John Nelson

MEMPHIS, TENN. — Cushman & Wakefield Commercial Advisors has brokered the $63 million sale of a manufacturing and logistics facility located on 35.7 acres at 5106 Tradeport Drive in Memphis. AAON Inc., an HVAC equipment manufacturer based in Tulsa, Okla., purchased the 787,000-square-foot property from Conwood Co. LLC, an affiliate of tobacco manufacturer American Snuff Co. Landon Williams, Katie Hargett and Mark Jenkins of Cushman & Wakefield Commercial Advisors represented the seller in the transaction, and John Beach and Susan Arledge of Newmark represented the buyer.

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DevelopmentGeorgiaMultifamilySoutheast

Woodfield Development Delivers 295-Unit Apartment Community in Union City, Georgia

by John Nelson

UNION CITY, GA. — Woodfield Development has delivered Union Green, a 295-unit apartment community located at 4980 Stonewall Tell Road in Union City, a southwest suburb of Atlanta. The property features a mix of one-, two- and three-bedroom apartments averaging 741 to 1,573 square feet in size. Monthly rental rates range from $1,498 to $4,175, according to Apartments.com. Amenities include a swimming pool with a sun lounge area, club lounge, demonstration kitchen for events, outdoor social commons with a grilling area, wellness and fitness studio and a sky lounge that offers views of downtown Atlanta’s skyline. The project team for Union Green included general contractor CBG Building Co., architect of record Fifth Dimension Architecture and interior designer Shelton Taylor + Associates.

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FloridaIndustrialLoansSoutheast

JLL Arranges $24.5M Loan for Amazon-Leased Industrial Facility in Tampa

by John Nelson

TAMPA, FLA. — JLL has arranged a $24.5 million loan for the recapitalization of a last-mile industrial facility in Tampa leased to Amazon. Built in first-quarter 2022, the 112,000-square-foot property is located in the city’s Southeast Hillsborough submarket near the Port of Tampa Bay and Tampa International Airport. Brian Gaswirth, Jimmy Calvo and Val McWilliams of JLL arranged the fixed-rate loan through Reinsurance Group of America Inc. on behalf of the borrower, an entity doing business as AGS TRIP Corp.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Negotiates $15.5M Sale of Shopping Center in Lakeland, Florida

by John Nelson

LAKELAND, FLA. — Marcus & Millichap has negotiated the $15.5 million sale of Northtowne Square, a 96,009-square-foot shopping center located in Lakeland. Built in 1988, the property was fully leased at the time of sale to tenants including Harbor Freight Tools, Fancy Fruit & Produce and Brewlands Bar & Billiards. Tarek Chbeir of Marcus & Millichap represented the seller in the transaction, and Garrett Fierstein of Marcus & Millichap Capital Corp. (MMCC) arranged $6.5 million in acquisition financing on behalf of the buyer.

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AlabamaLeasing ActivityRetailSoutheast

Anchor Investments Signs Workout Anytime to Lease at Shopping Center in Russellville, Alabama

by John Nelson

RUSSELLVILLE, ALA. — Anchor Investments LLC has signed Workout Anytime to a retail lease at Franklin Center, a grocery-anchored shopping center in Russellville. The new 24/7 fitness concept will open in March next to the grocery anchor, Price Less Foods. There are multiple remaining availabilities remaining at Franklin Center, according to Anchor Investments, a Nashville-based real estate investment firm.

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FloridaHospitalityLoansSoutheastTexasTop Stories

Newmark Arranges $1.75B Refinancing of Two Miami Hotel Resorts

by Taylor Williams

MIAMI — Newmark has arranged two loans totaling $1.75 billion for the refinancing of a pair of hotel resorts in Miami. Jordan Roeschlaub, Jonathan Firestone, Nick Scribani and Tyler Dumon of Newmark arranged the loans on behalf of the borrower, national hospitality owner-operator Fontainebleau Development. In the first deal, the Newmark team arranged a $1.2 billion loan through Goldman Sachs for Fontainebleau Miami Beach. Originally developed on 22 acres in 1952, the beachfront property totals 1,594 guestrooms across four towers and features a newly built convention center. Amenities include 11 pools with luxury cabanas; nine food-and-beverage outlets; three nightlife and lounge venues; 200,000 square feet of meeting and event space; and a 40,000-square-foot spa with a 5,800-square-foot fitness center. In the second transaction, the quartet of financial intermediaries placed a $550 million loan through J.P. Morgan for the JW Marriott Miami Turnberry Resort & Spa. Built in 1967 and renovated and expanded in 2019, the 270-acre resort comprises 685 guestrooms; two golf courses with a private country club; 120,000 square feet of meeting and event space; six restaurants and lounges; a waterpark; and a 25,000-square-foot spa. “These financings underscore the enduring appeal of South Florida’s premier hospitality assets,’’ says Roeschlaub, …

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AcquisitionsIndustrialNorth CarolinaSouth CarolinaSoutheast

Indus Realty Trust Acquires Majority Interest in 4.3 MSF Carolinas Industrial Portfolio from Childress Klein

by John Nelson

NEW YORK CITY — Indus Realty Trust, an industrial owner-operator based in New York, has purchased the majority interest in a logistics portfolio in the Carolinas from Charlotte-based Childress Klein. The 4.3 million-square-foot logistics portfolio spans 21 properties. The transaction amount was not shared, but the Indus Realty Trust investment puts the value of the portfolio at $575 million. Childress Klein will retain a minority stake and continue to operate and lease the properties. Eastdil Secured represented Childress Klein in arranging the transaction. The Carolinas portfolio was 94 percent occupied at the time of the recapitalization. Sixteen of the porftolio’s buildings are located in the metro Charlotte region and five buildings are in the greater Charleston market. The portfolio features a mix of last-mile and bulk facilities that average 205,000 square feet in size and 13 years in age.

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DevelopmentGeorgiaLeasing ActivityRetailSoutheast

EōS Fitness Plans to Open 50 Gyms Across Georgia Over Next 10 Years

by John Nelson

ATLANTA — EōS Fitness has announced plans to enter the metro Atlanta market and open 50 gyms throughout Georgia over the next 10 years. The first several gyms are scheduled to open by 2027, with each location averaging 40,000 to 50,000 square feet in size. Each EōS gym comes outfitted with strength and cardio equipment, training turf areas and recovery options including cryotherapy, cold plunges and infrared saunas. Every location also offers personal trainers, onsite staff and group classes. “Atlanta is the third-fastest-growing metropolitan area in the United States, and venturing here represents a key milestone in our long-term vision for EōS,” says Rich Drengberg, CEO of the brand. The EōS portfolio currently includes more than 175 locations open or underway in Arizona, California, Florida, Nevada, Texas and Utah. The Dallas-based company plans to surpass 250 gyms nationwide by 2030. Each new gym represents an approximately $10 million investment and creates 40 to 60 jobs.

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DevelopmentIndustrialSoutheastTennessee

Lincoln Property Co., Goldman Sachs Alternatives Break Ground on 497,160 SF Industrial Park Near Nashville

by John Nelson

HENDERSONVILLE, TENN. — Lincoln Property Co. (LPC) and Real Estate at Goldman Sachs Alternatives have broken ground on Northside Logistics Park, a five-building industrial park totaling 497,160 square feet. The co-developers recently closed on the land acquisition, which spans 45.6 acres at 157 Molly Walton Drive in Hendersonville, approximately 17 miles northeast of Nashville. Will Goodman and Jack Armstrong of CBRE brokered the land deal for the buyers and will handle the landlord leasing for the project. Each of the five buildings are designed to accommodate single or multiple tenants, with spaces ranging from 20,000 to 144,000 square feet, as well as feature 32-foot clear heights and at least 20 dock-high doors. The design-build team includes civil engineer Kimley-Horn & Associates and architect of record STG Design. LPC and Goldman Sachs Alternatives plan to deliver Northside Logistics Park in first-quarter 2026.

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DevelopmentLoansSouth CarolinaSoutheastStudent Housing

JLL Secures Construction Financing, Equity for 168-Unit Student Housing Development Near Clemson University

by John Nelson

CLEMSON, S.C. — JLL has secured construction financing and an equity placement for Hartwell Ridge, a 168-unit student housing development located near the Clemson University campus in South Carolina. Jeremy Sain, Teddy Leatherman and Lauren Dow of JLL represented the borrower, Fountain Residential Partners, in arranging the equity placement through FrontRange Capital and Atlantic American Partners. BankUnited provided the construction loan for the project. Located at 10920 Clemson Blvd., the community will offer fully furnished units in studio through five-bedroom configurations, including two-story townhomes. Shared amenities will include a swimming pool, clubhouse, strength training and cardio center and multiple private study rooms. Van Winkle Construction is acting as general contractor for the project, which is scheduled for completion in fall 2026.

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