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DevelopmentIndustrialNorth CarolinaSoutheast

M. David Properties Completes 105,384 SF Industrial Facility in Charlotte

by John Nelson

CHARLOTTE, N.C. — M. David Properties has completed SilverPark North I, a 105,384-square-foot industrial facility located within the three-building SilverPark North industrial campus in Charlotte. SilverPark North I features 32-foot clear heights, 20 dock-high doors and two drive-in doors, as well as a 2,501-square-foot speculative office suite. Veho, a technology company that operates one of the largest parcel delivery platforms in the United States, leases a 60,932-square-foot space at SilverPark North III. SilverPark North II and III are now both fully occupied. Brad Cherry and Matthew Greer of JLL lead leasing efforts for the campus on behalf of M. David Properties.

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FloridaLeasing ActivityRestaurantRetailSoutheast

CrossMarc Services Adds Five New Tenants to Springs Plaza Shopping Center in Longwood, Florida

by John Nelson

LONGWOOD, FLA.— Winter Park, Fla.-based CrossMarc Services LLC has signed five new tenants to Springs Plaza, a 64,753-square-foot shopping center located roughly 15 miles north of Orlando in Longwood. Among the new tenants are Foxtail Coffee (1,179 square feet), Children’s Art Classes (2,350 square feet), Level Up Pilates (2,365 square feet), 5th Nail Lounge (2,649 square feet) and Turning Point Dance Studio (2,351 square feet). Flavia Kanyago internally represented CrossMarc, as well as Baltimore-based joint venture partner MCB Real Estate, in the lease negotiations. Other tenants at the center — which is now 95 percent leased — include Tijuana Flats, First Watch, Jersey Mike’s Subs, Hurricane Grill & Wings and Woof Gang Bakery & Grooming and a 58,000-square-foot Publix that shadow-anchors the property.

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DevelopmentNorth CarolinaSoutheastStudent HousingTennessee

Preiss, FD Stonewater to Break Ground on Two Student Housing Developments Near NC State and University of Tennessee

by John Nelson

RALEIGH, N.C. AND KNOXVILLE, TENN. — A joint venture between The Preiss Co. and FD Stonewater has acquired sites for two student housing developments in North Carolina and Tennessee. Projects will includes Signature on Grand, located near the University of Tennessee in Knoxville; and Signature on Varsity, which will serve students attending North Carolina State University in Raleigh. The communities will offer over 1,200 beds in studio through five-bedroom configurations. Shared amenities will include resort-style pools, state-of-the-art fitness centers, study lounges and social spaces. The communities will be developed in partnership with Monarch Alternative Capital and are scheduled for completion in fall 2027. Ian Walker and Ben Roelke of Newmark secured debt and construction financing for the communities. Teddy Leatherman and Jayme Nelson of JLL secured additional equity for the projects.

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AcquisitionsDistrict of ColumbiaOfficeSoutheast

Onward Investors Takes Full Ownership of 12-Story Office Building in DC

by John Nelson

WASHINGTON, D.C. — Onward Investors has taken full ownership of 100 M Street SE, a 12-story, 240,500-square-foot office building in Washington, D.C.’s Navy Yard district. The Minneapolis-based investment firm acquired the property’s senior loan last April. The previous owner and terms of the transaction were not disclosed, but Washington Business Journal reported that Houston-based Lionstone Investments sold the property for nearly $54 million as part of its initiative to offload its $5.5 billion portfolio. Situated near the Navy Yard-BallPark Metro station, the office building is currently 78 percent leased and features about 16,000 square feet of contiguous availability, as well as newly installed amenities including a rooftop terrace, tenant lounge and conference center.

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FloridaLoansMultifamilySoutheast

NewPoint Provides $50M Refinancing for Pointe Grand Plant City Apartments in Metro Tampa

by John Nelson

PLANT CITY, FLA. — NewPoint Real Estate Capital LLC has provided a $50 million loan for the refinancing of Pointe Grand Plant City, a newly built, 300-unit apartment community in the metro Tampa area. Trevor Ritter of NewPoint originated the two-year, floating-rate, interest-only bridge loan on behalf of the borrower, Hillpointe LLC. The community, which features two-bedroom units with open floor plans and smart home access, is early in its lease-up phase. Monthly rental rates at Pointe Grand Plant City range from $1,764 to $1,914, according to Apartments.com. Community amenities include a resort-style swimming pool with private cabanas, 24-hour fitness center, clubhouse with coffee and tea bar, business center with a conference room, picnic area with barbecue grills, community firepit, bark park with agility equipment and pet spa and electric vehicle charging stations.

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AcquisitionsFloridaHealthcareMixed-UseRestaurantRetailSoutheast

Marcus & Millichap Brokers $11.3M Sale of Mixed-Use Property in Clermont, Florida

by John Nelson

CLERMONT, FLA. — Marcus & Millichap has brokered the $11.3 million sale of Legends Pointe, a two-building mixed-use retail and medical office property located in Clermont, approximately 22 miles west of Orlando. Originally built in 2006, the recently renovated property is situated on 4.3 acres and totals 47,418 square feet. Legends Pointe comprises 18 office suites and 10 retail units. Yassin Benkabbou and Salim Valiani of Marcus & Millichap’s Orlando office represented the seller, a local limited liability company, in the transaction.

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GeorgiaLeasing ActivityMixed-UseOfficeSoutheast

Selig Brings 125,000 SF Office Space at The Works in Atlanta to Full Occupancy

by John Nelson

ATLANTA — Selig Enterprises has announced that Phase I of the office space at The Works, the developer’s 80-acre mixed-use development on Atlanta’s Upper Westside neighborhood, is now fully leased. New tenants joining the 125,000-square-foot office component include Babbit Bodner (communications and marketing); City of Atlanta (public safety); Google Fiber; Interior Environments (office furniture dealer and interior designer); and Narrative Content Group (advertising, branding and website design). Existing tenants include Uppercut (creative editorial shop); MacDermid Graphic Solutions (a photopolymer plate manufacturer); iHeart Media (radio conglomerate); and Atlanta Eats (local food-driven media company). Atlanta-based Selig Enterprises owns The Works and handles the project’s office leasing internally.

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DevelopmentDistrict of ColumbiaMixed-UseMultifamilySoutheast

Tishman Speyer Launches Leasing at 321-Unit Residences at Mazza Apartments in DC

by John Nelson

WASHINGTON, D.C. — Tishman Speyer, along with property management firm Bozzuto, has launched preleasing at Residences at Mazza, a mixed-use development located at 5300 Wisconsin Ave. NW in Washington, D.C. Upon completion, the property will feature 321 apartments, townhomes and penthouses, as well as a 70,000-square-foot retail concourse that will soon be home to T.J. Maxx and Total Wine & More. Amenities will include a coworking lounge, rooftop sky lounge, fitness center, central courtyard with a lap pool and a media room. Monthly rental rates at Residences at Mazza range from $2,300 to $7,479, according to the property website. The development is situated within a block from the Friendship Heights Metro station and represents the first new apartment community to be built in D.C.’s Friendship Heights neighborhood since 2009, according to Tishman Speyer. The design team includes Danish architectural firm 3XN, landscape architect Parker Rodriguez and interior designer Michaelis Boyd.

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AcquisitionsFloridaRetailSoutheast

Franklin Street Brokers $86.3M Sale of Shopping Center Portfolio in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Tampa-based Franklin Street has arranged the sale of a six-property shopping center portfolio in Jacksonville for $86.3 million. Curbline Properties Corp. (CURB), a publicly traded firm and a former spinoff of SITE Centers Corp., was the buyer. The deal marks CURB’s largest acquisition to date. The portfolio totals 184,680 square feet and includes Carrie Plaza, Deerwood Station, Julington Square, Southlake Plaza, Roosevelt Plaza and Oakleaf Crossing. Bryan Belk and John Tennant of Franklin Street represented the seller, a local private investor, in the transaction.

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FloridaLoansMultifamilySoutheast

Northmarq Arranges $59M Refinancing of Old Town Square Apartments in Pompano Beach, Florida

by John Nelson

POMPANO BEACH, FLA. — Northmarq has arranged a $59 million loan for the refinancing of Old Town Square, a 281-unit midrise apartment community located at 200 N.E. 1st Ave. in Pompano Beach. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach office arranged the loan through an unnamed life insurance company on behalf of the borrower, Adache Real Estate. The bridge loan was underwritten with a three-year term, interest-only payments and extension options. Completed in 2024, Old Town Square features studio, one- and two-bedroom apartments, as well as a resort-style swimming pool, hot tub, summer kitchen with barbecue grills, gaming deck, 24/7 fitness center, sauna, coworking lab, community bicycles, onsite mini market, 24/7 property management and a dog run. The City of Pompano Beach provided a TIF financing to Adache as an economic incentive for the development of Old Town Square, according to Northmarq.

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