Tuesday, May 19, 2026
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AcquisitionsGeorgiaRetailSoutheast

IPA Arranges $10.3M Sale of Mansell Oaks Shopping Center in Roswell, Georgia

by John Nelson

ROSWELL, GA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $10.3 million sale of Mansell Oaks, a 43,190-square-foot shopping center in the north Atlanta suburb of Roswell. Zach Taylor of IPA represented the seller, an entity doing business as PLC Mansell LLC, in the transaction. Peachtree Industrial Partners LLLP is the buyer. Mansell Oaks’ tenant roster includes LongHorn Steakhouse, Bird Watcher Supply and Animal Emergency Center of North Fulton. “Well-located, unanchored retail strips with reasonable rents have become nearly as sought after as grocery anchored centers, and the cap rates are reflecting this demand,” says Taylor.

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AcquisitionsAlabamaLoansRetailSoutheast

Eastern Union Secures $7M Acquisition Financing for Shopping Center in Birmingham

by John Nelson

BIRMINGHAM, ALA. — Eastern Union has secured $7 million in acquisition financing for Crestwood Festival Centre in Birmingham. Marc Tropp of Eastern Union arranged the financing on behalf of the buyer, CityWide Properties, which intends to invest $1.5 million in capital improvements at the 299,707-square-foot shopping center. The five-year loan includes a fixed interest rate of 4.6 percent with one year of interest-only payments. The investor purchased the property, which is shadow-anchored by The Home Depot, for $9.4 million. Built in 1989 on 41 acres, Crestwood Festival Centre comprises 44 retail suites and nearly 1,000 parking spaces. Notable tenants include Phoenix Theatres The Edge 12 Birmingham, Burlington, Mattress Warehouse and Dollar Tree.

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DevelopmentIndustrialSoutheastTop Stories

Capital Development Begins Construction of 5.4 MSF Central Port Logistics Center in Savannah, Georgia

by Taylor Williams

SAVANNAH, GA. — Atlanta-based Capital Development Partners has started construction of Central Port Logistics Center at Rockingham, a 5.4 million-square-foot speculative industrial development in the coastal Georgia city of Savannah. Central Port Logistics Center at Rockingham will consist of seven buildings, with Phase I of the project comprising a roughly 1.1 million-square-foot cross-dock warehouse. According to the development team, that building will be the largest warehouse ever constructed on a speculative basis in Savannah. Completion of Phase I is slated for 2023. Phase II of the project will feature a 982,000-square-foot, rail-served building, a construction timeline for which was not disclosed. Subsequent phases of the project will deliver both cross-dock and rear-load storage and distribution facilities. “Central Port Logistics Center at Rockingham is the last large-scale industrial infill site in Savannah with unmatched access to the port, excellent rail service and immediate connectivity to major highways,” says John Knox Porter Jr., CEO of Capital Development Partners. “These facilities will provide a significant location advantage for our customers.” Bill Sparks, executive vice president of CBRE’s Savannah office, which is marketing the development for lease, also said that the proximity and access to various pieces of major infrastructure would be a game-changer …

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AcquisitionsFloridaMultifamilySoutheast

Berkadia Brokers $66M Sale of Topaz Villas Apartments in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Berkadia has brokered the $66 million sale of Topaz Villas, a 444-unit multifamily community located at 5327 Timuquana Road in Jacksonville. Greg Rainey of Berkadia’s Jacksonville office led the transaction on behalf of the sellers, Topaz Capital Group and The Lynd Co. Mitch Sinberg, Brad Williamson and Wesley Moczul of Berkadia arranged $53 million in acquisition financing on behalf of the buyer, ROI Capital Group, which plans to rebrand the community. Voya Investment Management provided the three-year, floating-rate loan with extension options and interest-only payments. The loan includes approximately $5.3 million in future funding for capital improvements. Topaz Villas offers one-, two- and three-bedroom apartments that range from 500 to 1,400 square feet in size. Community amenities include two swimming pools, a fitness center, bark park, playground, tennis court and 24-hour emergency maintenance. The property is situated within Ortega Farms, a suburban neighborhood along the Ortega River, and offers convenient access to I-295 and the Naval Air Station Jacksonville.

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GeorgiaIndustrialLeasing ActivitySoutheast

GCP Signs Dollar General to 712,040 SF Industrial Lease in Metro Atlanta

by John Nelson

STOCKBRIDGE, GA. — Birmingham, Ala.-based Growth Capital Partners (GCP) has recently signed Dollar General Corp., the Goodlettsville, Tenn.-based national discount retailer, to a full-building industrial lease in metro Atlanta. GCP’s Fund II purchased the recently vacated property, located at 500 Business Center Drive in Stockbridge, in March. The 712,040-square-foot property is situated in the South I-75 Atlanta industrial submarket and features 30-foot clear heights, 74 dock doors and seven rail doors. The center is expected to be fully operational in the fourth quarter and will employ approximately 50 Dollar General employees. Reed Davis, Bob Currie and Brad Pope of JLL represented GCP in the lease negotiations, and Scott Delphy of Food Properties Group represented Dollar General. GCP’s Fund II includes 1.9 million square feet of bulk distribution properties in Georgia and Tennessee and 1.9 million square feet of industrial development projects currently under construction in the Carolinas, Florida, Tennessee and Texas. In addition to the Stockbridge facility, Dollar General recently invested $480 million to expand its distribution network with three new facilities planned in Arkansas, Oregon and Colorado.

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AcquisitionsFloridaRetailSoutheast

PEBB, Banyan Sell Mainstreet at Boynton Shopping Center in South Florida for $33M

by John Nelson

BOYNTON BEACH, FLA. — PEBB Enterprises and joint venture partner Banyan Development have sold Mainstreet at Boynton, a grocery-anchored retail center in Boynton Beach that the companies delivered in 2021. The co-developers sold the 52,152-square-foot property to an entity doing business as West Parkway Realty LLC for $33 million. Danny Finkle and Eric Williams of JLL represented PEBB and Banyan in the sale, which does not include other components of the mixed-use Mainstreet development, such as its 158-unit Congregate Living Facility and numerous outparcels occupied by tenants including Wawa, Aspen Dental and Synovus Bank. Located at 6405 W. Boynton Beach Blvd. in South Florida’s Palm Beach County, Mainstreet at Boynton was fully leased at the time of sale to tenants including Sprouts Farmers Market, AT&T, Crown Wine & Spirits, F45, Capitol Carpet & Tile and GoodVets.

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AcquisitionsDevelopmentMultifamilyOfficeSoutheastVirginia

AREP Acquires 200,000 SF Office Building in Old Town Alexandria, Plans Multifamily Conversion

by John Nelson

ALEXANDRIA, VA. — American Real Estate Partners (AREP) has acquired 1101 King Street, a 200,000-square-foot office building in Old Town Alexandria, a historic neighborhood in metro Washington, D.C. The McLean, Va.-based investor purchased the office condominiums within the building simultaneously from seven individual owners for an undisclosed price. AREP plans to convert the property to 200 apartments, with 17,500 square feet of commercial space on the ground floor, as well as amenities including a club room, fitness center and a rooftop terrace. The firm restructured the office leases to allow for the conversion program and is keeping existing retail tenants Orangetheory Fitness and Paris Baguette throughout the redevelopment process. AREP has selected Cooper Carry to lead the project redevelopment design and RD Jones for the interior work. Construction is set to begin in July 2023.

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AcquisitionsOfficeSoutheastVirginia

JLL Arranges Sale of 115,563 SF Office Building in Chantilly, Virginia

by John Nelson

CHANTILLY, VA. — JLL has arranged the sale of Independence Center II, a 115,563-square-foot office building located at 15040 Conference Center Drive in Chantilly. Jim Meisel, Matt Nicholson, Andrew Weir, Dave Baker and Kevin Byrd of JLL marketed the property on behalf of the seller, Tritower Financial Group. The buyer and sales price were not disclosed. Independence Center II is situated in Northern Virginia’s cyber-intelligence hub of Westfields. Completed in 2006, the property is fully leased to tenants that have invested in high-value infrastructure upgrades, including SCIF (Sensitive Compartmented Information Facility) rooms, data centers and backup generators. The property is proximate to Route 28, I-66, Route 50, Dulles Toll Road and Dulles International Airport.

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AlabamaDevelopmentMixed-UseMultifamilyOfficeRetailSoutheastTop Stories

RCP Plans $110M Anthem House Mixed-Use Development in Huntsville, Alabama

by Jeff Shaw

HUNTSVILLE, ALA. — RCP Cos. has announced plans for Anthem House, a $110 million mixed-use development in Huntsville’s new MidCity district. The property will feature 330 apartment units, 35,000 square feet of creative office space and 32,000 square feet of street-level retail space. Named for MidCity’s music theme, Anthem House will offer a “residential-meets-hospitality housing solution” with furnished units, shorter lease contracts and hotel-like surroundings and amenities. Most of the major aerospace companies have a presence in Huntsville, which is home to regional employers including U.S. Army post Redstone Arsenal and Cummings Research Park. Additionally, the city offers twice the amount of government jobs per capita than any other city in the country. Huntsville’s workforce demographics feature many remote and contract workers who greatly prefer the multifamily-hospitality niche for their housing. “Currently, Huntsville has a housing deficit that is accentuated by the continued job growth in the market,” says RCP co-founder Max Grelier. “The shift in consumer preferences, particularly among millennials, is driving demand for more hospitality features within real estate projects, including more amenities, hosting events and activities which bring residents together.” U.S. News & World Report named Huntsville as the best place to live in the United States …

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FloridaIndustrialMarket ReportsSoutheastSoutheast Market Reports

Low Vacancy, New Development, Rent Growth Reflect Industrial Demand in Orlando

by John Nelson

Still going strong after two years since the onslaught of COVID-19, Orlando’s industrial market has seen a steady increase of robust leasing activity and development, with no signs of stopping. The growth is attributable to record-low vacancy, emerging construction and increasing demand from existing tenants expanding their businesses and new tenants in the market. Economic conditions affecting the market are similar to last year, as labor shortages and supply chain issues remain. However, the industrial sector overall has not been adversely affected. Orlando continues to be the place for existing business advancement and new business development. The city’s population growth outpaces that of any other city in Florida due to its central location, warm weather year-round, no state tax and relative affordability. As such, the market is seeing large enterprise retail and consumer goods companies claiming their stake in the Sunshine State. Robust leasing activity The total industrial leasing volume in the Orlando market for the second-quarter 2022 was 4.5 million square feet, 43 percent of the total leasing volume seen in 2021. Eight leases over 100,000 square feet were signed to date in 2022. The largest lease in the first half of 2022 was the new 294,787-square-foot Coca-Cola lease …

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