Friday, November 14, 2025
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Shoppes at Brantley Hall
AcquisitionsFloridaRetailSoutheast

Franklin Street Negotiates Sale of 34,460 SF Retail Center in Altamonte Springs, Florida

by Abby Cox

ALTAMONTE SPRINGS, FLA. — Franklin Street has negotiated the sale of Shoppes at Brantley Hall, a 34,460-square-foot, unanchored retail center located in Altamonte Springs, roughly 16 miles outside Orlando. Last Mile Investments purchased the property from an entity doing business as REC I/Brantley Hall LP for an undisclosed price. Zack McNamara and Tyler Hicks of Franklin Street represented the buyer in the off-market transaction. Additionally, McNamara will also handle leasing efforts at the center on behalf of Last Mile Investments. Built in 1989, Shoppes at Brantley Hall was 97 percent leased at the time of sale to tenants including Pet Supplies Plus, Orlando Health, Edward Jones and Fiesta Azul Tequila House. Last Mile Investments plans to make upgrades and continue operating the center while “maintaining the asset’s strong tenant mix and stable performance.”

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Northbend Master-Plan Rendering
AcquisitionsDevelopmentGeorgiaMixed-UseSoutheastTop Stories

Third & Urban, HighBrook Investors Acquire Corporate Square in Atlanta, Plan $605M Mixed-Use Redevelopment

by Abby Cox

ATLANTA — A partnership between locally based real estate company Third & Urban and HighBrook Investors has acquired Corporate Square, a 30-acre office park in the Brookhaven area of Atlanta, with plans to redevelop the property into a $605 million mixed-use district. Patterson Real Estate Advisory Group arranged the financing for the acquisition. The project, dubbed Northbend, is moving forward after the partnership received approval to rezone the site as a master-planned development. Third & Urban is currently in the process of securing partnerships for the initial phases of vertical construction. Construction of Northbend, which is situated between Buford Highway and I-85 near the newly opened Children’s Healthcare of Atlanta Arthur M. Blank Hospital, is scheduled to commence in summer 2026. Eight obsolete office buildings will be demolished to allow for new infrastructure and improved road networks. According to the development team, Northbend is expected to generate $8.2 million in annual tax revenue for the city upon completion, while creating more than 400 construction jobs and over 300 permanent jobs. “Northbend will transform an outdated, underutilized office park into a vibrant gathering place for the Brookhaven community and beyond,” says Hank Farmer, partner at Third & Urban. “This redevelopment is a catalyst for …

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AcquisitionsIndustrialSoutheastVirginia

Crescent Communities Sells 500,000 SF Industrial Property in Metro Richmond to LaSalle

by John Nelson

COLONIAL HEIGHTS, VA. — Charlotte-based Crescent Communities has sold AXIAL Gateway 95, an industrial property located at 16401 Walthall Industrial Parkway in Colonial Heights, a city near Richmond in Chesterfield County. The property spans more than 500,000 square feet and was fully leased at the time of sale to Hillphoenix, a subsidiary of Dover Food Retail and a leading manufacturer of commercial refrigeration systems. JLL represented Crescent Communities in the sale. LaSalle Investment Management purchased the asset for an undisclosed price. Hillphoenix’s investment at AXIAL Gateway 95 is expected to add more than 320 new jobs to the region. Financial partners for AXIAL Gateway 95 included Kyuden Urban Development America LLC, the U.S. subsidiary of Kyushu Electric Power Co. Inc. (equity) and Santander Bank (lender). The design-build team included DMA Architecture (architect), Timmons Group (civil engineer), KBD Group (general contractor) and JLL (leasing agent and capital markets advisor).

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AcquisitionsAffordable HousingKentuckyMultifamilySoutheast

Fairstead Acquires Majority Stake in 503-Unit Affordable Housing Community in Louisville

by John Nelson

LOUISVILLE, KY. — New York City-based Aaffordable housing developer and operator Fairstead has acquired a general partner interest in City View Park, an affordable housing community in Louisville. Via the partnership, Fairstead will assume the role of owner and property manager. The community includes 72 one-bedroom, 221 two-bedroom, 179 three-bedroom and 31 four-bedroom residences. Of the 503 total units, 468 are supported by Section 8 contracts, and all homes are governed by Low-Income Housing Tax Credit (LIHTC) affordability restrictions, reserved for residents earning no more than 60 percent of the area median income (AMI). City View Park was built in the early 1970s and renovated in 2021. Fairstead owns approximately 26,000 apartments across 28 states.

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AcquisitionsFloridaMultifamilySoutheast

Eastham Capital, Merion Realty Partners Sell Tallahassee Apartments for $47.5M

by John Nelson

TALLAHASSEE, FLA. — Eastham Capital has sold The Monroe Apartments, a 288-unit apartment community in Tallahassee, for $47.5 million. The property was acquired in 2019 with a value-add strategy alongside partner Merion Realty Partners as part of a portfolio called Eastham Capital Fund V. The buyer’s identity was not disclosed. The Monroe includes a mix of one-, two- and three-bedroom units ranging in size from 1,095 to 1,695 square feet.  Eastham Capital and Merion Realty Partners implemented a repositioning strategy that the owners say enhanced the asset’s profitability.  At the time of the sale, The Monroe was approximately 95 percent occupied, with monthly effective rents having increased from $1,133 at the time of acquisition to $1,642 by the time of disposition. The Monroe, located at 2677 Old Bainbridge Road, was the first collaboration between Eastham and Merion Realty Partners.

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Leasing ActivityRetailSouth CarolinaSoutheast

Continental Realty Signs Golf Galaxy to 20,000 SF Lease at Sweetgrass Corner Shopping Center in Metro Charleston

by John Nelson

MOUNT PLEASANT, S.C. — Continental Realty Corp. has signed Golf Galaxy, a golf retailer owned and operated by Dick’s Sporting Goods, to a 20,000-square-foot retail lease in metro Charleston. The retailer will open its new store, the retailer’s fourth location in South Carolina, next year at Sweetgrass Corner, a nearly 90,000-square-foot shopping center located at 1909 N. Highway 17 in Mount Pleasant. The store will carry golf equipment and apparel and feature a performance center with hitting bays, putting green, service desk, technician workshops and instructions from golf experts. Timothy Brennan of The Navigator Group and Don Lyon of GreatStreet Realty Partners represented Golf Galaxy in the lease transaction. Cherene Keenan represented Continental Realty on an internal basis. The Baltimore-based landlord inked a lease last year at Sweetgrass Corner with Trader Joe’s, which opened last fall.

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DevelopmentGeorgiaLeasing ActivityRetailSoutheast

Trader Joe’s Opens New Store at The Avenue Peachtree City in Metro Atlanta

by John Nelson

PEACHTREE CITY, GA. — Trader Joe’s has opened a new 13,750-square-foot grocery store at The Avenue Peachtree City, an open-air shopping center located in Peachtree City, a southern suburb of Atlanta. The store is located at 258 City Circle and represents the first location in the city for the California-based grocer. JLL manages The Avenue Peachtree City on behalf of the owner, Memphis-based Poag Development Group. Other retailers operating at the property include Arhaus, Beignets & Brew, High Country Outfitters, HOBNOB Neighborhood Tavern, Kendra Scott, Lovesac, Moe’s Southwest Grill, Motivate Studios, Rack Room Shoes, Sephora, Ted’s Montana Grill, Warby Parker and 9292 Korean BBQ.

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DevelopmentGeorgiaMixed-UseSoutheast

Atlantic Cos. to Build Hillrose Market Mixed-Use Development in Roswell, Georgia

by John Nelson

ROSWELL, GA. — The Atlantic Cos. has received approval from the City of Roswell to build Hillrose Market, a mixed-use development in the northern Atlanta suburb of Roswell. Adjacent to City Hall with walkable trail connection to the Canton Street Historic District, Hillrose Market will transform a 7-acre site fronting Hill Street between Atlanta and Ellis streets. Plans call for a six-building, 75,000-square-foot retail village; an office building; the adaptive reuse of the former Roswell Police Department into a mixed-use hub with ground-floor retail space and second-floor workspace; 143 luxury rental apartments; 16 for-sale brownstones; abundant surface and structured parking; and pedestrian access to downtown Roswell and surrounding trails. Atlantic Cos. is developing Hillrose Market in a public-private partnership with the City of Roswell. ASD | SKY is leading design efforts, and The Providence Group is developing the brownstones. Westbridge is serving as commercial consultant, advising on the adaptive reuse and retail components. New South Construction Co. is the general contractor, and Kimley-Horn is the project engineer. Crosby Design Group is leading interior design services. Construction is slated to begin next year, with completion of the first phases anticipated in 2027.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

McDowell Housing Begins Construction on $64.7M Affordable Seniors Housing Project in South Florida

by John Nelson

PEMBROKE PARK, FLA. — McDowell Housing Partners has announced the commencement of construction of Ekos at Pembroke Park, a new affordable seniors housing development located in Pembroke Park. Upon completion, the $64.7 million project will total 150 units reserved for seniors earning up to 80 percent of the area median income. This marks the 16th affordable housing project in Florida for McDowell. Amenities at the community will include a clubroom, fitness center, package lockers, bike storage and six electric vehicle charging stations. Nonprofit organization Area Agency on Aging of Broward County will lease a commercial space at the property and offer onsite supportive services to residents age 60 and older. Financing for the development includes tax-exempt bonds and a loan from the Housing Finance Authority of Broward County; a loan from the Florida Housing Finance Corp.; LIHTC equity from U.S. Bank; and senior construction and permanent loans from R4 Capital.

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DevelopmentFloridaMultifamilySoutheast

Kolter Multifamily Breaks Ground on 256-Unit Alton Sarasota Apartment Development in Florida

by John Nelson

SARASOTA, FLA. — Kolter Multifamily LLC, an affiliate of Delray Beach, Fla.-based The Kolter Group, has broken ground on Alton Sarasota, a 256-unit, garden-style apartment community in Sarasota. Kolter expects to welcome first residents in winter 2026. Alton Sarasota represents the fourth apartment development in the Sarasota-Bradenton MSA for Kolter, which broke ground on Alton Palmetto in Palmetto, Fla., earlier this year. Situated along 63rd Avenue about three miles north of University Parkway, Alton Sarasota will feature one-, two- and three-bedroom apartments ranging in size from 765 to 1,248 square feet. The property will also include a modern clubhouse with a fitness center, coworking office space and a coffee lounge.

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