MULBERRY, ARK. — Compass Cold Storage has announced the completion and opening of the 142,160-square-foot first phase of its new cold storage facility located in Mulberry. Featuring 18,500 pallet positions, the cold storage facility can maintain temperatures ranging from negative 20 to 40 degrees Fahrenheit. Completion of the second phase of the project, which will include additional freezer and dock space and bring the project cost to roughly $50 million, is scheduled for later this summer. A third phase is in the planning stage. Doug Bowen and Darren Winstead are the owners and operators of Compass Cold. Melbourne, Fla.-based Ti Cold is the developer on the project.
OWINGS MILLS, MD. — David S. Brown Enterprises will develop a new, 120-room extended-stay hotel at the Metro Centre at Owings Mills, a transit-oriented development roughly 20 miles outside Baltimore. The Element by Westin hotel will join a high-end, Marriott-branded hotel at the development, which will also feature more than 1,700 apartments; 560,000 square feet of office space; 150,000 square feet of retail space and 5,700 parking spaces upon completion. Crescent Hotels & Resorts will manage the Element by Westin hotel.
NASHVILLE, TENN. — Work-focused members organization The Malin will open a 12,000-square-foot club in Paseo South Gulch in Nashville, marking the second location for the brand in the city. Located within the project’s Voorhees Building, The Malin South Gulch will feature 58 dedicated desks, seven private offices, four meeting rooms, three lounges and a library. Kingston Lafferty Design is providing interior design services for the project, which is scheduled for completion this fall. SomeraRoad is the developer and owner of Paseo South Gulch.
HIALEAH, FLA. — Terreno Realty Corp. has broken ground on two industrial buildings totaling 364,000 square feet in Hialeah, roughly 13 miles outside Miami. Situated within Countyline Corporate Park, the warehouse buildings, dubbed Building 39 and Building 40, are scheduled for delivery in the first quarter of 2024. VS Real Estate (VSRE) is developing the facilities on behalf of Terreno Realty, and Rycon is serving as the general contractor. Building 39 will comprise 178,000 square feet with a private truck court, and Building 40 will total 186,000 square feet. The warehouses will feature 36-foot clear heights. Countyline Corporate Park Phase IV, which comprises 121 acres, is scheduled for completion in 2025.
RALEIGH, N.C. — Alliance Residential has opened Prose New Hope, a 344-unit apartment community located in northeast Raleigh. The property features residences in one- and two-bedroom layouts with an average size of 1,012 square feet. Amenities at the community include a clubroom with an entertainment kitchen, saltwater pool with sun shelf seating and two outdoor grill stations, a business center, fitness center and a Luxer package system. The project team for the development included Cline Design Associates and engineer McAdams, both of which are based in Raleigh. Leasing rates begin at $1,395 per month, according to the property website.
BEAUFORT, S.C. — Denver-based Forum Capital Advisors LLC has provided a $10.4 million preferred equity investment for the development of a 264-unit multifamily community in Beaufort. Located on Grober Hill Road, the property will be situated within a larger, master-planned community. A construction timeline for the project was not disclosed.
ROCKY MOUNT, N.C. — Marcus & Millichap has arranged the $11.8 million sale of Sutter’s Creek Plaza, a 210,482-square-foot shopping center located at 506 Sutter’s Creek Blvd. in Rocky Mount. Tenants at the property include Big Lots, Tractor Supply Co., Jo-Ann Fabrics and Harbor Freight Tools. French Traver and Kodi Traver of Marcus & Millichap represented the seller, a Florida-based private investor, in the transaction. Ben Yelm assisted in closing the sale as Marcus & Millichap’s North Carolina broker of record. A New York-based private investor acquired the center.
JOHNSON CITY, TENN. — Blue Vista Capital Partners has acquired Stoneybrook Heights Apartments, an 88-unit multifamily community located in Johnson City. Blue Vista purchased the mixed-income property in partnership with Standifer Capital. Built in 1998, Stoneybrook Heights comprises 11 two-story buildings and a single-story leasing office, with apartments averaging 1,032 square feet in two-, three- and four-bedroom layouts. Originally constructed as affordable housing, the community will become a fully market-rate property in the second half of 2024. Amenities at the property include a clubhouse and green space for pets. The seller and sales price were not disclosed.
NASHVILLE, TENN. — The Cordish Cos. has revealed plans for Nashville Live!, an adaptive reuse of the historic George Jones building in downtown Nashville. Upon completion, the property will offer 50,000 square feet of dining and entertainment space. Nashville Live! will feature a different concept on each of its five floors, including a DraftKings Sports & Social restaurant and bar, a flagship location for PBR Cowboy Bar and concert hall, an elevated rooftop venue, a 10,000-square-foot private event space with room to host up to 450 people, and an exclusive speakeasy bar. Plans for DraftKings Sports & Social include several state-of-the-art LED media walls; a number of signature bars offering specialty cocktails; restaurant space featuring a full menu developed by James Beard Award nominee John Suley; and guest-friendly mobile platforms that will allow patrons to place bets using the DraftKings Sportsbook application. PBR Cowboy Bar is partnering with the Nashville Stampede, one of eight teams in a new bull riding league, for its location at Nashville Live! The space will feature a professionally endorsed mechanical bull, multiple bars, private VIP booths and a DJ and live music venue. The development’s rooftop concept, AVA Rooftop Bar, will include an oversized central …
BALTIMORE — Method Co. will soon open Roost Apartment Hotel, an 81-unit flexible living community located within the 235-acre Baltimore Peninsula project, which was formerly known as Port Covington. Located at 2460 Terrapin Way, Roost is part of the “Chapter 1” phase of the $5.5 billion Baltimore Peninsula development and is the waterfront project’s third residential property, joining Rye House and 250 Mission. Last week the development team, including Method, Weller Development, MAG Partners and MacFarlane Partners, hosted a ribbon cutting ceremony attended by Maryland Gov. Wes Moore and Sagamore Ventures CEO and Under Armour founder Kevin Plank. The Roost Apartment Hotel concept bridges the gap between a boutique hotel experience and apartment living, with floor plans ranging from one to three bedrooms. The units include features like a full-size kitchen, balconies and full-wall windows. Additionally, Roost will feature an open-air pool, 24/7 concierge and a fitness center with Peloton bikes. The design team for the Roost Baltimore location includes Hord Coplan Macht, Aumen Asner Inc. and Method Studios. Method Co., which operates other Roost-branded properties in Philadelphia, Cleveland, Detroit and Tampa, plans to open the Baltimore Peninsula location on Saturday, July 1.