Southeast

Amazon to Develop $10B Data Center Campus in North Carolina

by Hayden Spiess June 5, 2025

RICHMOND COUNTY, N.C. — Amazon (NASDAQ: AMZN) has announced plans to develop a new, $10 billion cloud computing and artificial intelligence (AI) innovation campus in Richmond County, roughly 80 miles east of Charlotte. According to the Seattle-based company, this marks one of the largest capital investment announcements in the history of the state. Upon completion, the campus will house data centers with computer servers, data storage drives, networking equipment and other technology infrastructure used for cloud computing capabilities and generative AI. The project will be situated at one of the Economic Development Partnership of North Carolina’s Selectsite Readiness Program sites, which are designed to accommodate industries like AI and advanced manufacturing. Specific details about the site and construction timelines were not released. Amazon reports that the investment will create at least 500 new jobs, adding to the more than 192,000 tech professionals already in the state, as well as thousands of jobs in the Amazon Web Services (AWS) data center supply chain. “Amazon’s $10 billion investment in North Carolina underscores our commitment to driving innovation and advancing the future of cloud computing and AI technologies,” says David Zapolsky, chief global affairs and legal officer with Amazon. “This investment will position North Carolina …

June 5, 2025

Acquisitions Georgia Office Southeast

CP Group Purchases 2.2 MSF Piedmont Center Office Campus in Atlanta’s Buckhead District

by John Nelson June 4, 2025

ATLANTA — CP Group has purchased Piedmont Center, a 2.2 million-square-foot office campus located off Piedmont Road in Atlanta’s Buckhead district. The Boca Raton, Fla.-based investor and landlord acquired the 14-building campus in an all-cash transaction. The Atlanta Business Chronicle reports that CP Group purchased the 46-acre office park at a foreclosure auction in partnership with Austrian bank Bawag Group for $200 million. The news outlet reported that former owner, Ardent Cos., defaulted on its loan tied to Piedmont Center from Morgan Stanley. The previous owner announced unfulfilled plans in 2023 to develop a concentration of food-and-beverage offerings at Piedmont Center dubbed Oxton, named after the “O” and “X” shape of two of the office buildings on the campus. CP Group plans to offer more food-and-beverage options at Piedmont Center, as well as expand amenities including conference facilities, fitness centers, lobbies and outdoor common areas. The firm also plans to install its suite of high-end speculative suites branded “worCPlaces” at the campus.

June 4, 2025

Florida Loans Office Southeast

Newmark Arranges $77.2M Refinancing for Office Tower in Aventura, Florida

by John Nelson June 4, 2025

AVENTURA, FLA. — Newmark has arranged a $77.2 million loan for the refinancing of Onyx Tower, a 28-story office tower in Aventura, a northern suburb of Miami. The borrower, an entity doing business as Onyx Tower LLC, delivered the tower in 2023. The building is one of two towers on the site. Jordan Roeschlaub, Jonathan Firestone, Nick Scribani and Chris Lozinak of Newmark secured the financing from Barings. Onyx Tower’s amenities include a rooftop pool with ocean views, a fitness center, outdoor jogging trail, full-floor conference facilities, electric vehicle charging stations and onsite dining options. Miami-based Blanca Commercial Real Estate handles leasing at Onyx Tower, according to the property website.

June 4, 2025

Arkansas Development Southeast Student Housing

Subtext, Kayne Anderson to Break Ground on 845-Bed Student Housing Development Near University of Arkansas

by John Nelson June 4, 2025

FAYETTEVILLE, ARK. — A joint venture between Subtext and Kayne Anderson is set to break ground on VERVE Fayetteville, an 845-bed student housing development located at 707 W. Treadwell St. near the University of Arkansas campus in Fayetteville. The community will span 532,300 square feet and offer 272 units in one- through four-bedroom configurations. The property will feature 33,000 square feet of indoor and outdoor amenity spaces, including open and private study areas; a coffee café; sports simulator; resort-style pool and hot tub; fire pits; and a fitness and wellness center with cardio equipment, weights, yoga rooms, private wellness rooms and a sauna. The project is scheduled for completion in August 2027. The development team includes Kennedy Wilson, Brinkmann Constructors, Modus Studio and Vida Design. Additional contributors include AJC Design Group, Viewtech, McClelland Consulting Engineers and ENGR3. John Rowland and Steve Lane of Colliers | Arkansas served as the exclusive brokers on the sale of the VERVE Fayetteville development site.

June 4, 2025

Georgia Industrial Leasing Activity Southeast

JLL Negotiates 150,000 SF Cold Storage Lease in West Atlanta

by John Nelson June 4, 2025

ATLANTA — JLL has negotiated a 150,000-square-foot lease with locally based Porter Logistics at Logistics Pointe, an industrial facility located at 605 Selig Drive on Atlanta’s west side. Porter Logistics already occupies 266,813 square feet of dry storage at the facility, bringing the third-party logistics firm’s footprint in the building to 412,513 square feet. Austin Kriz of JLL represented the tenant in the lease negotiations. The landlord was Covington Group Inc. Porter Logistics is backfilling recently vacated space at the 650,259-square-foot industrial facility, which features 20 exterior dock doors, four drive-in bays and clear heights ranging from 24 to 27 feet.

June 4, 2025

Acquisitions North Carolina Retail Southeast

FrostPoint Capital Acquires 33,455 SF Retail Center in High Point, North Carolina

by John Nelson June 4, 2025

HIGH POINT, N.C. — FrostPoint Capital, a privately held real estate investment and management firm based in West Palm Beach, Fla., has purchased a 33,455-square-foot retail center in High Point, a city in North Carolina’s Triad region. Berkeley Capital Advisors brokered the transaction. The seller and sales price were not disclosed. The unanchored shopping center is located at 1800 N. Main St., about a mile west of High Point University. The property’s tenant roster includes Company’s Coming, 98 Asian Bistro, Tea Time Boba Tea Lounge, Hair Kutts Salon, Still Waters Spa, TL Fitness and Q’s Corner. FrostPoint Capital is planning an extensive redevelopment that will pay tribute to the site’s former occupant, Lyles Chevrolet. This transaction marks FrostPoint Capital’s 14th acquisition in the Southeast and first in North Carolina.

June 4, 2025

Arizona California Florida Loans Multifamily Western

JLL Secures $255.3M Refinancing for TruAmerica, Oaktree Capital Management Multifamily Portfolio

by Amy Works June 4, 2025

LOS ANGELES — TruAmerica Multifamily and Oaktree Capital Management, both based in Los Angeles, have received a loan for approximately $255.3 million to refinance four multifamily properties. JLL Capital Market’s debt advisory team represented the borrower and was led by President Kevin Mackenzie and Managing Directors Annie Rice and Brandon Smith. The JLL team arranged a five-year, floating-rate loan through a national bank. The portfolio includes three Florida properties: Arbors at Carrollwood in Tampa and Audubon Park and Alcove Orlando in Orlando. In Arizona, the portfolio features Luxe Scottsdale. The properties were built between 2001 and 2017.

June 4, 2025

Acquisitions Multifamily Southeast Virginia

TruAmerica Multifamily Acquires Chase Heritage Apartments in Sterling, Virginia for $72M

by John Nelson June 3, 2025

STERLING, VA. — TruAmerica Multifamily has purchased Chase Heritage Apartments, a 236-unit community located at 1212 Chase Heritage Circle in Sterling, a suburb of Washington, D.C. McDowell Properties sold the garden-style property for $72 million. Robert Dean and Jonathan Greenberg of Institutional Property Advisors’ (IPA) Mid-Atlantic office represented the seller in the transaction. Built in 1986, Chase Heritage has had multiple renovations completed since 2021, mostly on the exterior and amenity areas including the pool area, clubhouse and fitness center. TruAmerica Multifamily plans to renovate the property’s interiors and enhance amenity offerings during its ownership.

June 3, 2025

Loans Multifamily South Carolina Southeast

Mesa West Capital Provides $50.4M Refinancing for Ames Apartments in Metro Charleston

by John Nelson June 3, 2025

SUMMERVILLE, S.C. — Mesa West Capital has provided a $50.4 million loan for the refinancing of The Ames, a new Class A apartment community located in Summerville, a suburb of Charleston. Walker Layne and Austin Sneed of Walker & Dunlop arranged the financing on behalf of the borrower, Woodfield Development, which delivered the 304-unit property in 2024. Pamir Niaz led Mesa West Capital’s New York-based origination team in the deal. The Ames is located at 3800 Zephyr Road within the Nexton master-planned community and features a mix of studio, one-, two- and three-bedroom layouts. Amenities include a resort-style pool with poolside cabanas and grilling stations, an outdoor amphitheater, resident lounge, fitness center, pickleball courts and a dog park.

June 3, 2025

Acquisitions Development Maryland Office Southeast

JLL Arranges Sale of 222,000 SF Office Building in North Bethesda, Buyer Plans Repositioning

by John Nelson June 3, 2025

NORTH BETHESDA, MD. — JLL has arranged the sale of a 222,000-square-foot office building located at 2101 E. Jefferson St. in North Bethesda. Jim Meisel, Dave Baker, Andrew Weir and Kevin Byrd of JLL represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was also not disclosed. Meisel says that the buyer plans to reposition the vacant office building for another use, plans of which were not released. Built in 1985, the office property is situated on 4 acres near Pike & Rose, a mixed-use development by Federal Realty Investment Trust that features more than 50 shops and restaurants and more than 750 apartments.

June 3, 2025

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