Monday, June 15, 2026
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Southeast

AcquisitionsAlabamaIndustrialSoutheast

Reich Brothers Purchases 1.6 MSF Distribution Center in Opelika, Alabama

by John Nelson

OPELIKA, ALA. — Reich Brothers, a national industrial real estate investment firm, has purchased a 1.6 million-square-foot distribution center in Opelika, a city along I-85 and near Auburn, Ala. The seller and sales price were not disclosed. The facility is the largest multi-tenant distribution center in the Auburn-Opelika market, with 96 dock positions, more than 10 leased suites and standalone buildings ranging from 50,000 to 400,000 square feet. The rail-served property services both the Kia and Hyundai automotive hubs in western Georgia and eastern Alabama, according to Reich Brothers.

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DevelopmentGeorgiaOfficeSoutheast

Barings to Convert 45,000 SF of Vacant Office Space at 3445 Peachtree in Atlanta to Speculative Suites

by John Nelson

ATLANTA — Barings plans to convert approximately 45,000 square feet of vacant office space at 3445 Peachtree in Atlanta’s Buckhead district to speculative suites. Spread across five spaces within the 14-story, 287,000-square-foot office building, these suites will range in size from 3,000 square feet to a full 23,000-square-foot floor. Furniture will be provided within some of these spaces and each spec suite will include exposed ceiling duct work and floor plans that invite collaboration. New tenants will also have access to several Class A amenities available to all 3445 Peachtree tenants. No construction timeline was disclosed. According to research from CBRE, metro Atlanta currently has 500,000 square feet of spec suites under construction, which represents about 28 percent of the market’s existing inventory of spec suite space (1.8 million square feet).

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AcquisitionsFloridaOfficeSoutheast

CBRE Arranges $14.5M Sale of Tampa Oaks II Office Building

by John Nelson

TAMPA, FLA. — CBRE has arranged the $14.5 million sale of Tampa Oaks II, a 104,080-square-foot office building located at 12906 Tampa Oaks Blvd. in Tampa. Dale Peterson, Joe Chick, Kristen McFarland Hagen, Courtney Snell and Nick Sharpe of CBRE represented the seller, TerraCap Management, in the transaction. Marc Magliarditi and Travis Landes of CBRE’s Las Vegas office represented the unnamed buyer. Constructed in 2008 by Opus South Corp., Tampa Oaks II’s major tenants include Liberty Mutual Insurance Co., Fieldstone A&E and Home Encounter LLC.

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AcquisitionsGeorgiaMultifamilySoutheast

Northmarq Secures Sale of Avana Druid Hills Apartments in Decatur, Georgia

by John Nelson

DECATUR, GA. — Northmarq has secured the sale of Avana Druid Hills, a 228-unit apartment community located at 3471 N. Druid Hills Road in Decatur, a suburb of Atlanta. Jason Nettles, Megan Thompson and Peter Chacon of Northmarq represented both the buyer, Atlanta-based RangeWater Real Estate, and the seller, Charleston-based Greystar, in the transaction. The sales price was not disclosed. Greystar had previously invested $1.2 million for exterior upkeep at Avana Druid Hills, including new roofing, balcony repair, retaining wall replacement and an LED lighting package. Built in 1985, the pet-friendly, garden-style property features a saltwater pool, outdoor lounge with a fire pit, fitness studio, clubhouse, grill, picnic area, tennis court, business center, onsite storage, coffee bar and a car care facility.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers $6.3M Sale of Orlando Store Net Leased to CVS

by John Nelson

ORLANDO, FLA. — Marcus & Millichap has brokered the $6.3 million sale of a store located at 3212 Curry Ford Road in Orlando. The 13,824-square-foot retail property is net leased to CVS/pharmacy. Gabriel Britti, Ricardo Esteves and Ronnie Issenberg of Marcus & Millichap’s Miami office represented the seller, a limited liability company, and the buyer. Both parties requested to remain anonymous.

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DevelopmentMixed-UseSouth CarolinaSoutheast

Lancaster County Council Approves Phase II of RedStone Mixed-Use Development in Metro Charlotte

by John Nelson

INDIAN LAND, S.C. — The Lancaster County Council has approved developer MPV Properties’ plans for the second phase of RedStone, a mixed-use development in the Charlotte suburb of Indian Land. Phase II will comprise 350 apartments, 20 townhomes and 24,000 square feet of retail space. Located at the intersection of U.S. Highways 521 and 160, the second phase will be situated adjacent to Phase I, a shopping center that opened in 2016 and includes 80,000 square feet of existing retail and restaurant space, as well as the RedStone 14 Cinemas. Between the two phases will be an event lawn that MPV plans to activate with live music, farmers markets and other public events. The developer has begun leasing the retail space at Phase II, which will break ground in fall 2023. Michael Bilodeau and Steve Vermillion of MPV Properties, along with Jason McArthur of Mission Properties, are leading the development of RedStone Phase II. Robbie Adams and Joey Morganthall of MPV Properties are responsible for retail leasing.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

FCP Acquires Grand Arbor Reserve Apartments in Raleigh for $48M

by John Nelson

RALEIGH, N.C. — Chevy Chase, Md.-based FCP has purchased Grand Arbor Reserve, a 297-unit apartment community located at 2419 Wycliff Road in Raleigh. Howard Jenkins of CBRE represented the undisclosed seller in the $48 million transaction. Situated near I-440 and the UNC Rex Hospital, Grand Arbor Reserve comprises mostly two- and three-bedroom apartments. Amenities include a swimming pool, fitness center, playground, dog park and a volleyball court. The property was originally built in 1969, according to Apartments.com.

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AcquisitionsFloridaRetailSoutheast

JLL Arranges $44.9M Sale of Grocery-Anchored Shopping Center in Miami

by John Nelson

MIAMI — JLL has arranged the sale of Deerwood Town Center, a grocery-anchored shopping center spanning 205,853 square feet in Miami. Core Investment Management purchased the property from Courtelis Co. for nearly $44.9 million. Courtelis has owned the center since it delivered the first phase in 1985, according to JLL. Danny Finkle, Eric Williams and Kim Flores of JLL brokered the transaction. Deerwood Town Center was fully leased at the time of sale to tenants including Fresco y Mas, Amped Fitness, Pet Supermarket and TD Bank. The center is located at 12095 SW 152nd St., which is situated across from the Zoo Miami.

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AcquisitionsFloridaMarylandOfficeRetailSoutheast

A&G Conducts $18.4M in Sales for 21 Commercial Properties at Bankruptcy Auction

by John Nelson

MELVILLE, N.Y. — Melville-based A&G Real Estate Partners has secured the sales of 21 properties in Maryland, Delaware and Florida at a real estate bankruptcy auction. All assets were formerly owned by the late Zebulon J. and Beatrice Brodie. In the Aug. 16 bankruptcy auction, 19 properties in Maryland and one each in Delaware and Florida fetched a total of $18.4 million. The transactions included: the $6.7 million sale to different buyers of four contiguous, largely undeveloped properties in a busy commercial district on Legion Road in Denton, Md.; the $1.5 million sale of the Carter Building at 300 Market St. in downtown Denton; the $2.1 million sale of the Alexander Building at 315 High St. in Chestertown, Md.; and the $2.2 million sale of 300 Bulle Rock Farm Lane in Centreville, Md., which is a family compound formerly owned by John Raskob, builder of the Empire State Building in Manhattan. “A&G’s comprehensive marketing campaign for this middle-market disposition triggered inquiries from more than 560 prospective buyers across the country, and nearly 50 of those interested parties eventually placed baseline, qualifying and/or prevailing bids, some for multiple properties,” says Emilio Amendola, co-president of A&G. After two rounds of bidding, 13 …

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District of ColumbiaSoutheast

US Economy Adds 263,000 Jobs in September, Unemployment Rate Contracts to 3.5 Percent

by John Nelson

WASHINGTON, D.C. — Total U.S. nonfarm payroll employment rose by 263,000 in September, and the unemployment rate contracted 20 basis points to 3.5 percent, according to the U.S. Bureau of Labor Statistics (BLS). Monthly job growth has averaged 420,000 year-to-date in 2022, compared with 562,000 per month in 2021. The September performance fell narrowly short of the Dow Jones estimate of 275,000 but exceeded expectations for the unemployment rate, which the economists expected to remain at 3.7 percent, according to CNBC. Leisure and hospitality added 83,000 jobs in September, which is on par with the average monthly job gain over the first eight months of the year. Other notable gains were in the healthcare sector (+60,000), professional and business services (+46,000), manufacturing (+22,000) and construction (+19,000). Additionally, the BLS revised the employment gains for July upward by 11,000 to 537,000; the August figure was unchanged at 315,000. Lawrence Yun, chief economist for the National Association of Realtors, says the job gains in September for the office-using sectors were encouraging, but he emphasizes that the lack of office workers in downtown districts will continue to have a ripple effect on other economic sectors. “The traditional office-using jobs in the professional business …

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