Monday, July 28, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Southeast

DevelopmentKentuckyLeasing ActivityMixed-UseOfficeSoutheast

Corporex Signs Logistics Firm to Office Lease at Ovation Office Building in Newport, Kentucky

by John Nelson

NEWPORT, KY. — Corporex has signed MegaCorp Logistics, a transportation freight and logistics firm based in Wilmington, N.C., to an office lease at Ovation, a 25-acre mixed-use development located at 200 W. Third St. in Newport. Situated near Cincinnati where the Ohio and Licking rivers meet, the new office building will span 100,000 square feet across five floors. MegaCorp will serve as the anchor tenant of the building and occupy two full floors. The firm’s new regional headquarters will bring 250 to 300 jobs to the market when the firm begins to move into the space in early 2023. Corporex recently kicked off construction on the 132-room Hilton Homewood Suites Hotel at Ovation that will feature a plaza-level restaurant with a bar and a rooftop bar. The hotel and office building comprise Phase II of Ovation, and Phase III will include a riverfront mixed-use building that will include a 1,600-space parking structure with for-sale and rental residential units, shops, restaurants, entertainment and a membership-based fitness and social club.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaRetailSoutheast

TSCG Brokers $10.4M Sale of Grocery-Anchored Shopping Center in Southwest Florida

by John Nelson

BONITA SPRINGS, FLA. — TSCG has brokered the sale of Bay Landing, a grocery-anchored shopping center totaling nearly 63,000 square feet in the southwest Florida city of Bonita Springs. Illinois-based InvenTrust Properties purchased the property for approximately $10.4 million. Anthony Blanco led the TSCG team that included Mallory Silva and Nick Ureta in representing the seller, an affiliate of Barron Collier Cos. Built in 1998 along U.S. Highway 41, Bay Landing was fully leased at the time of sale to The Fresh Market and HomeGoods. The site is entitled for an additional 10,000 square feet of retail development, according to Blanco.

Continue Reading
FacebookTwitterLinkedinEmail
CivicDevelopmentFloridaHospitalitySoutheast

Matthews Southwest Begins Final Phase of $1.3B Convention Center and Hotel Expansion Project in Fort Lauderdale

by John Nelson

FORT LAUDERDALE, FLA. — Matthews Southwest has begun the final phase of the expansion and redevelopment of the Greater Fort Lauderdale/Broward County Convention Center, which includes the 29-story, 800-room Omni Fort Lauderdale hotel. The total cost of the project is about $1.3 billion and is expected to deliver in late 2025. Nunzio Marc DeSantis Architects designed the hotel, Fentress Architects designed the convention center expansion and Balfour Beatty is handling construction. The project is expected to generate 1,000 construction jobs and 1,300 permanent jobs. Matthews Southwest opened Phase I of the convention center in October 2021. The expansion project will add an additional 600,000 square feet of flexible indoor event and meeting space and an additional 200,000 square feet of outdoor programming space, to create a total of more than 1.4 million square feet of event space that includes 350,000 square feet of contiguous exhibition space. The expanded center will also feature a new 65,000-square-foot waterfront ballroom, 50 meeting rooms, new dining concepts, pre-function space and modern décor and technologies. The new Omni hotel will feature a rooftop bar, grand and junior ballrooms, meeting spaces, yoga deck and a pool deck. The project will also include an onsite water taxi …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLife SciencesMarylandSoutheast

Trammell Crow to Develop 757,000 SF Life Sciences Campus at Johns Hopkins Satellite Campus in Maryland

by John Nelson

ROCKVILLE, MD. — Trammell Crow Co. has plans to develop The Lab at Belward, a life sciences project situated on the Belward Campus of Johns Hopkins University in Rockville. The property will initially span 757,000 square feet of laboratory and research and development space across three buildings. Trammell Crow entered into a 99-year ground lease with Johns Hopkins University for the 21-acre project. Designed by Gensler to achieve LEED Gold standards, The Lab at Belward will include 18-foot ceiling heights on both the basement and ground floors, with 16-foot heights on all other floors. The property will include amenities, terraces, balconies and a parking garage, as well as a six-acre public park with two retail pavilions. At full buildout the project could span up to 1.6 million square feet across seven buildings, according to Trammell Crow. The Dallas-based developer plans to break ground on the initial phase in June 2023 and deliver the project in early 2025. The project team includes general contractor Clark Construction Group; civil engineer Soltesz Inc.; land use engineer Lerch Early Brewer; mechanical, electrical and plumbing (MEP) engineer James Posey Associates Inc.; structural engineer Thornton Tomasetti; and landscape architect OJB. CBRE is managing the marketing and …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentGeorgiaMultifamilySoutheast

Mill Creek Begins Preleasing at Modera Old Ivy Apartment Community in Atlanta

by John Nelson

ATLANTA — Mill Creek Residential, a Boca Raton, Fla.-based developer and owner-operator of multifamily properties, has begun preleasing at Modera Old Ivy, a luxury apartment community under development in Atlanta’s Buckhead district. Located within a mid-rise and high-rise tower at 3651 Lenox Road, the development is on a site that includes the Prominence office building and an Element Marriott hotel. First move-ins are anticipated in early June. According to the property website, rental rates range from $2,290 per month for a one-bedroom unit to $6,635 for a three-bedroom apartment. Mill Creek is building the 394-unit property to a National Green Building Standard Gold certification level. Community amenities will include a 24-hour fitness studio, clubhouse, community-wide Wi-Fi, demonstration kitchen, game room, rooftop deck, two pools including one rooftop pool, sauna, steam room, grilling area with outdoor dining, fire pit, coffee bar, library lounge with a reading terrace and landscaped courtyards. Residents will also have secured parking in a private garage with reserved parking and electric vehicle charging stations available, controlled guest-access technology, package lockers, dedicated bike storage, resident storage lockers and concierge services.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaIndustrialSoutheast

Ten Capital Management Purchases 224,359 SF Industrial Park in Metro Orlando

by John Nelson

LAKE MARY, FLA. — Ten Capital Management, a privately held real estate investment management firm based in metro Cleveland, has purchased SunTech Commerce Park, a six-building, 224,359-square-foot industrial park in suburban Orlando. The property is situated on 19.3 acres at 39-59 Skyline Drive in Lake Mary, about a quarter mile from Interstate 4. According to LoopNet Inc., the campus includes five single-story flex buildings and one three-story office building. The seller and sales price were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilySouth CarolinaSoutheast

CREC Real Estate, Rincon Capital Partners Acquire Planters Trace Apartments in Charleston

by John Nelson

CHARLESTON, S.C. — CREC Real Estate LLC and Rincon Capital Partners have acquired Planters Trace Apartments, a 96-unit, Class B multifamily community located in the West Ashley submarket of Charleston. The seller and sales price were not disclosed. The 10.6-acre property, built in 1974 and located at 2222 Ashley River Road, has convenient access to nearby jobs, retail and entertainment. The buyers plan to invest $2.8 million in value-add renovations to update common areas, amenities and unit interiors. The property currently features a pool, communal firepit and garden, laundry room, grilling area and a dog park.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNorth CarolinaOfficeSoutheast

Highwoods to Acquire Office Tower in Uptown Charlotte for $203M

by John Nelson

CHARLOTTE, N.C. — Highwoods Properties Inc. plans to purchase 650 South Tryon at Legacy Union, an 18-story office tower in Uptown Charlotte that is anchored by Big 4 accounting firm Deloitte. The Raleigh-based REIT plans to acquire the 367,000-square-foot, LEED Gold-certified tower for $203 million, which includes $3.9 million of capital expenditures to boost occupancy of the tower. The property was 78 percent leased at the time of the transaction, which is expected to close in the third quarter. The seller was not disclosed but the developer, Lincoln Harris, delivered the property in late 2020. The tower represented Phase II of the Legacy Union mixed-use campus and is connected to the 33-story Bank of America Tower, which Highwoods also owns. Additionally, Highwoods has agreed to acquire a development site in Charlotte’s South End district for $27 million. The parcel at 1426 S. Tryon St. is tentatively planned for a mixed-use property comprising 300,000 square feet of office space and 250 apartments. The seller of the site was also not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsFloridaOfficeSoutheast

Cushman & Wakefield Brokers $56.7M Sale of Two Office Buildings in Downtown Miami

by John Nelson

MIAMI — Cushman & Wakefield has brokered the $56.7 million sale of a pair of office buildings in downtown Miami totaling more than 300,000 square feet. A partnership between Triple Double Real Estate and Stonerock Capital Partners purchased the portfolio from an undisclosed seller. Mike Davis, Dominic Montazemi, Miguel Alcivar, Adam Spies, Rick Brugge and Rick Colon of Cushman & Wakefield represented both parties in the transaction. The properties include a 12-story building at 200 S.E. 1st St. and a 26-story tower at 44 W. Flagler St. The buildings are about a quarter-mile from one another and were a combined 59 percent leased at the time of sale, giving value-add opportunities to the new owners.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMultifamilySoutheast

CP Capital, Crescent Communities to Develop 277-Unit Apartment Project in Tampa

by John Nelson

TAMPA, FLA. — CP Capital US has formed a joint venture with Crescent Communities to develop Novel Independence Park, a 277-unit, Class A multifamily project in Tampa. The community will be part of Independence Park, a 44-acre, mixed-use development that was recently rezoned to accommodate the project, as well as future phases that include office, retail and townhomes. Charlotte-based Crescent Communities purchased the site from Independence Park master developer Highwoods Properties Inc. Situated in Tampa’s Westshore district, the developers plan to break ground this month and deliver the first units in the third quarter of 2023, with construction expected to be completed in early 2024. Truist provided construction financing for the project. Design partners include architecture firm Dwell Design Studio, landscape architect LandDesign, civil engineer Haiff Associates and interior designer Vignette Interior Design. CBG Construction will serve as the general contractor.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts