Tuesday, June 17, 2025
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AcquisitionsDistrict of ColumbiaMixed-UseOfficeRestaurantRetailSoutheast

Marcus & Millichap Brokers $4.3M Sale of Mixed-Use Property in DC

by John Nelson

WASHINGTON, D.C. — Marcus & Millichap has brokered the $4.3 million sale of 6400 Georgia Ave. NW, a 13-suite mixed-used property located in Washington, D.C. Situated in the northwestern neighborhood of Brightwood, the property totals 20,680 square feet across two floors. The first floor is fully leased with seven retail suites — including Subway and other long-term local businesses — that operate on a triple-net lease basis. The second floor features six office suites, all of which were vacant at the time of sale. According to LoopNet Inc., the property was built in 1952 and renovated in 2024 to include a new roof, sump pump and other building improvements. Lorenzo Wooten and Jacob Krens of Marcus & Millichap’s D.C. office marketed the property on behalf of the family that owned the property. The buyer was not disclosed.

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FloridaIndustrialLeasing ActivitySoutheast

Ian Black Real Estate Signs Video Game Developer to 23,349 SF Industrial Lease in Nokomis, Florida

by John Nelson

NOKOMIS, FLA. — Ian Black Real Estate has signed video game developer Combat Waffle Studios to a 23,349-square-foot industrial space in Nokomis, about 17 miles south of Sarasota. Located at 195 Triple Diamond Blvd., the original office building was converted into a warehouse to provide room for development meetings, VR testing areas and motion capture and security-focused development zones. The property was also pre-wired for fiber-optic internet services. Additionally, Combat Waffle Studios will make minor repairs to the space, including new flooring, lighting and paint, according to the Tampa Bay Business Journal. The space was formerly occupied by drinkware brand Tervis, which vacated the property in January as part of the company’s consolidation. Combat Waffle Studios, which is backed by Facebook and Instagram parent company Meta and produces the popular video game “Ghosts of Tabor,” is expected to have 100 employees working from the space. Nick DeVito II and Brie Tulp of Ian Black Real Estate represented the landlord, an entity doing business as 201 Triple Diamond Holdings LLC, in the lease transaction.

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Market ReportsNorth CarolinaRetailSoutheastSoutheast Market Reports

Sweetwater Town Center Is a ‘Place to Exhale’ in Bustling Raleigh-Durham Area

by John Nelson

The secret is getting out about Apex, a western suburb of Raleigh that also lies 20 miles south of Chapel Hill. In 2018, Realtor.com ranked the city as the No. 1 fastest growing suburb in the United States. This was aided by the master planning of local homebuilder/developer ExperienceOne Homes, which debuted its large-scale Sweetwater residential development in 2016. The allure of Apex didn’t stop there as the local schools within the Wake County Public School System have long been considered top-notch. As more and more families moved to the once-sleepy town, the need for community-serving retail became apparent. And not just any sprawling shopping center would suffice. Retail Strategies of N.C. Inc., on behalf of development partner The Kalikow Group, a multifamily and mixed-use development firm based in Westbury, New York, and the aforementioned ExperienceOne, set out to create a sense of place that would resemble village towns in Northeast states such as Maine and Massachusetts. What all of these hamlets have in common is they are built up over decades around a town center, thus the idea of Sweetwater Town Center was established. East Side The “hard part” was essentially in the rearview mirror as ExperienceOne had already …

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AcquisitionsFloridaOfficeSoutheast

Partnership Acquires Bank of America Plaza Office Tower in Fort Lauderdale for $220M

by John Nelson

FORT LAUDERDALE, FLA. —  A partnership between affiliates of locally based firms Square2 Capital and Highline Real Estate Capital and Dallas-based Lone Star Funds has acquired Bank of America Plaza, a 410,561-square-foot office tower located at 401 East Las Olas Blvd. in Fort Lauderdale. The sales price was not disclosed, but South Florida Business Journal reports the property traded for more than $220 million. The 23-story tower — which was 94 percent leased at the time of sale — is situated on a full city block in the city’s Las Olas Financial District. Tenants at the property include Bank of America, Greenberg Traurig, Boies Schiller Flexner, Motorola Solutions and UBS. CBRE represented the seller, a global investment manager, in the transaction, and arranged acquisition financing on behalf of the buyer. Mike Manno of Square2 Capital will lead the property management responsibilities at Bank of America Plaza on behalf of the new ownership.

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AcquisitionsFloridaOfficeSoutheast

Bradford Allen Buys Fort Lauderdale Office Complex for $208M, Plans to Invest $25M for Upgrades

by John Nelson

FORT LAUDERDALE, FLA. — Chicago-based Bradford Allen Investment Advisors has acquired Las Olas Centre I and II, a 470,810-square-foot luxury office complex located in Fort Lauderdale. The sales price was not disclosed, but South Florida Business Journal reports the property traded for $208 million. Originally built in 1997, Bradford Allen will invest $25 million in renovations for the property, including new office lobbies, technologically advanced conference rooms, a fitness center and outdoor space. Situated at 350 and 450 E. Las Olas Blvd., the complex offers easy access to I-95, as well as the Brightline train line and several bus routes. The properties — which stand 15 and 18 stories tall — were 69 percent occupied at the time of sale. Amenities at the complex include casual and fine-dining restaurants, Starbucks Coffee, onsite property management, concierge and 24/7 security services and a variety of bank branches. Jon Blunk and Laurel Oswald of Tower Commercial Real Estate (TCRE) will provide leasing efforts for the complex. Bradford Allen will provide asset and property management services. Las Olas Centre marks Bradford Allen’s first acquisition in the South Florida region.

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Build-to-RentDevelopmentFloridaMultifamilySingle-Family RentalSoutheast

Coastal Ridge Begins Construction on 277-Unit Build-to-Rent Community Near Tampa

by John Nelson

SAN ANTONIO, FLA. ­­— Coastal Ridge has broken ground on Stillwell Pasco Station, a 277-unit build-to-rent community located in San Antonio, about 30 miles north of Tampa. The development will feature a mix of one-, two and three-bedroom homes measuring up to 1,300 square feet. The single-bedroom units will be designed as attached duplex-style homes, while the two- and three-bedroom houses will be detached. The carriage-style units will feature private one-car garages. Amenities will include a 5,000-square-foot clubhouse and fitness center, lounge, game room, resort-style pool, fire pits, grilling areas, outdoor walking trails and dog parks. BBL is serving as the general contractor, the project architect is KTGY, the engineering and landscape architect is Kimley-Horn and the interior designer is HPA. The first homes are slated for completion in early 2026.

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DevelopmentIndustrialSoutheastVirginia

Brinkmann, Crescent Communities Break Ground on 331,000 SF Industrial Project in Rockville, Virginia

by John Nelson

ROCKVILLE, VA. — A partnership between Brinkmann Constructors and Crescent Communities has broken ground on Axial Rockville 64, a 331,000-square-foot industrial project located just under two miles from I-64 and Va. Highway 288 in Rockville. The project is situated on 29 acres and will feature two rear-load buildings that measure 154,100 square feet and 181,220 square feet. Additionally, the development will include 301 auto parking spaces, 53 trailer parking spaces, 81 dock-high doors and expansive truck courts. DMA Architecture PLLC is the project architect.

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DevelopmentLouisianaMixed-UseOfficeRetailSoutheast

Public-Private Partnership Opens Primary Workspace Venue at Former Schoolhouse in Gretna, Louisiana

by John Nelson

GRETNA, LA. — The City of Gretna, Jefferson Parish and Formwork Development will host a grand opening today for Primary Workspace, a coworking and event venue built within a historic 1911 schoolhouse in downtown Gretna. The development was conducted in a public-private partnership between Jefferson Facilities Inc. and Formwork Development on behalf of Jefferson Parish and the City of Gretna. Architect and interior designer Studio BKA followed a three-part approval process to preserve the building’s historical integrity while incorporating modern updates and collaborated with the Louisiana Historic Preservation Office to ensure the renovation met the Secretary of Interior’s Guidelines for Historic Preservation. The $3.5 million renovation was funded with $2.7 million in funding from the American Rescue Plan Act and $800,000 of Louisiana State Historic Tax Credits. Located at 519 Huey P Long Ave., the nearly 20,000-square-foot development offers flexible coworking office space and special event rental options within the repurposed primary school, which features original architectural details and updated systems and amenities such as a revived two-story auditorium, rebuilt proscenium arch and stage, private offices, meeting rooms and hot desks. An additional 2,800 square feet is available for lease on the first floor alongside the German-American Cultural Center & Museum, …

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The Reserve at Juniper in Atlanta
DevelopmentGeorgiaMultifamilySoutheastTop Stories

Middle Street, AECOM-Canyon Nearing Completion on Two-Tower Midtown Atlanta Multifamily Project

by Channing Hamilton

ATLANTA — A joint venture between developers Middle Street Partners and AECOM-Canyon Partners is underway on The Juniper and The Reserve at Juniper, a two-tower multifamily project totaling 487 apartment units. The development is located at 1081 Juniper St., a block from Piedmont Park in Midtown Atlanta.  The Juniper will feature 320 units across 37 stories. The top floor will be dedicated to amenity space, including coworking suites, a fitness center and a hot yoga studio.  Adjacent to The Juniper, The Reserve at Juniper will comprise 167 apartments across 34 stories. The building will offer amenities such as infrared and salt saunas, a cold plunge and rooftop pool. Each tower will also feature an undisclosed amount of ground-floor retail space. The development team broke ground on the project in mid-2022, and the towers were topped out in July 2024. Leasing is slated to begin in the spring. “We believe Midtown Atlanta, specifically the area adjacent to Piedmont Park, is the most dynamic submarket in the Southeast,” says Ed Alexander, development partner for Middle Street. “We set out to create a residential destination befitting the neighborhood and an addition to the skyline that will stand the test of time.” The joint venture secured …

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AcquisitionsDevelopmentIndustrialSouth CarolinaSoutheast

Isuzu Acquires 1 MSF Industrial Facility in Upstate South Carolina, Plans to Invest $280M for Assembly Plant

by John Nelson

PIEDMONT, S.C. — Isuzu North America Corp., a subsidiary of Japanese automobile manufacturer Isuzu, has acquired Enterprise 85, a 1 million-square-foot industrial facility located at 7745 Augusta Road Piedmont. Situated on over 200 acres in South Carolina’s Upstate region near I-185, the building will house an assembly plant to expand Isuzu’s vehicle supply capabilities in North America. Isuzu’s estimated $280 million investment at the facility will create more than 700 new jobs, with operations anticipated to begin in 2027. The property was recently developed on a speculative basis by SunCap Property Group and the real estate arm of Goldman Sachs Asset Management. Garrett Scott, John Montgomery, Brockton Hall and Dillon Swayngim of Colliers’ Spartanburg, S.C., office represented SunCap in the transaction.

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