Tuesday, July 22, 2025
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DevelopmentGeorgiaMultifamilySingle-Family RentalSoutheast

American Homes 4 Rent Opens 127-Home Rental Community in Loganville, Georgia

by Alex Tostado

LOGANVILLE, GA. — American Homes 4 Rent has opened Stone Creek Community, a 127-home rental community in Loganville. The community comprises single-family homes that feature fenced-in backyards and three-to five-bedroom floor plans ranging from 2,000 to 3,000 square feet. Rents will start in the $1,600s. Each home offers granite countertops, stainless steel appliances, vinyl plank flooring, central heating and air conditioning and two-car garages. The community will also feature a clubhouse, pool, fitness center and a playground. Additionally, routine front and backyard maintenance is included. Stone Creek Community is situated at 5031 U.S. Highway 81, 38 miles east of downtown Atlanta.

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DevelopmentMarylandRetailSoutheast

Sprouts Farmers Market to Open New Store in Baltimore on Wednesday

by Alex Tostado

BALTIMORE — Sprouts Farmers Market will open a new store in Baltimore on Wednesday, July 22. The store, located at 3800 Boston St., will be the fifth location in Maryland for the Phoenix-based grocer. Sprouts is following CDC guidelines at the location, requiring employees to wear masks, promoting social distancing and installing plexiglass barriers at registers. The new Sprouts will be part of Collective at Canton, a 12-acre mixed-use development featuring multifamily units, an office building, hotel and retail and restaurant space. Developer 28 Walker is building the project. Ryan Wilner, Andrew Feldman and Mason Bernstein of KLNB are leading the retail leasing efforts for the development.

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AcquisitionsKentuckyMultifamilySoutheast

Capstone Arranges Sale of 126-Unit Apartment Complex in Paducah, Kentucky

by Alex Tostado

PADUCAH, KY. — Capstone Apartments Partners has arranged the $3 million sale of Fernwood Homes, a 126-unit apartment complex in Paducah. The property offers two- and three-bedroom floor plans. The asset is situated at 710 Lone Oak Road, three miles southwest of downtown Paducah. New York-based Hillcrest Acquisitions acquired the asset, which was originally built in 1950. Jonathan Hawks, Adam Klenk and Tyler Mayo of Capstone represented the seller, Fernwood Homes LP, which owned the property for more than 30 years.

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DevelopmentFloridaMixed-UseRetailSoutheast

Skanska USA Completes $92M Renovation of St. Petersburg Pier, Adds New Shops and Restaurants

by Alex Tostado

ST. PETERSBURG, FLA. — Skanska USA has completed a $92 million renovation of the historic St. Petersburg Pier on behalf of the City of St. Petersburg. The 26-acre area now includes 44,000 square feet of retail and restaurant space, including the St. Pete Museum of History and Tampa Bay Watch Discovery Center. Other tenants include The Driftwood Café; Doc Ford’s Rum Bar & Grille; Spa Beach Bistro; Teak, a waterfront restaurant; and Pier Teaki, a rooftop bar. The five-story Pierhead building includes shops and a fishing platform. The pier area also includes the 35,000-square-foot Pier Plaza, which includes a playground, splash pad and seating areas. The 1,400-foot St. Petersburg Pier, which juts out into Tampa Bay, was originally built in 1889 and is the eighth pier in the city’s history. Rogers Partners, ASD | SKY and landscape architect Ken Smith Workshop designed the project.

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DevelopmentFloridaRetailSoutheast

Pebb Enterprises to Build Publix-Anchored Shopping Center in Metro Jacksonville

by Alex Tostado

ST. JOHNS, FLA. — Pebb Enterprises has unveiled its plans for a new 58,900-square-foot, Publix-anchored shopping center in St. Johns. Publix will occupy 48,400 square feet at the center, which will feature 10,500 square feet of in-line retail space. Publix Liquor Store and Lavender Spa have also signed leases at the space. Pebb Enterprises closed on the $2.8 million land sale July 10 and has begun site work. The Boca Raton, Fla.-based developer expects to deliver the property in summer 2021. The site is located at 855 County Road 210 W., across the street from Beachwalk, a 3,000-acre community that includes residences, retail, office and industrial space, as well as a planned 100-room hotel. Chris Stewart and Jenny Schuemann of Pebb Enterprises are handling leasing efforts for the Publix-anchored property.

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GeorgiaLeasing ActivityOfficeSoutheast

Rooms To Go Signs 60,000 SF Office Lease in Atlanta’s Central Perimeter Submarket

by Alex Tostado

ATLANTA — Rooms To Go has signed a 60,000-square-foot lease to relocate its Atlanta office to the city’s Central Perimeter submarket. The furniture company will move to Perimeter Summit, a 1.7 million-square-foot office campus located at 4004 Summit Blvd., 15 miles north of downtown Atlanta. Rooms To Go’s Atlanta office was previously located in Dunwoody. The company is based in Seffner, Fla. Other tenants at Perimeter Summit include IBM, Cox Automotive, Northside Hospital and Verizon. Bryan Heller and Sabrina Gibson of CBRE, as well as Randy Holmes and Andrew Pearson of Seven Oaks Co., represented the landlord, Seven Oaks and GE. David Rubenstein, John Flack and Bo Keatley of Savills represented the tenant in the lease negotiations.

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FloridaIndustrialLoansOfficeSoutheast

Alliant Credit Union Provides $16.2M Refinancing Loan for Industrial, Flex Property in Jacksonville

by Alex Tostado

JACKSONVILLE, FLA. — Alliant Credit Union has provided a $16.2 million refinancing loan for a 194,000-square-foot industrial/flex property in Jacksonville. The five-year, non-recourse loan has a 30-year amortization schedule. The building was 90 percent leased at the time of the refinancing to tenants including Konica Minolta and Fresenius Medical Care. The asset is situated at 9143 Philips Highway, 14 miles south of downtown Jacksonville. Jacob Cohen of Walker & Dunlop originated the loan on behalf of the undisclosed borrower.

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Company NewsFloridaSoutheast

Office Depot Donates $1.5M to Feeding America’s COVID-19 Response Fund

by Alex Tostado

BOCA RATON, FLA. — Office Depot, a wholly owned subsidiary of The ODP Corp., is providing $1.5 million to Feeding America, a domestic hunger-relief organization, in support of its COVID-19 Response Fund to help local food banks across the country distribute more than 1.3 billion pounds of food to communities in need. Feeding America’s COVID-19 Response Fund enables its network of 200-member food banks to secure the resources they need to serve the most vulnerable members of their communities. According to a recent survey by Feeding America, nearly 40 percent of those served by the network are seeking food assistance for the first time. Households with children are more likely to experience food insecurity, with a report by Feeding America finding that the number of food-insecure children could escalate to 18 million, an all-time high, due to the COVID-19 health crisis. “We are proud to support the Feeding America network of food banks as it works tirelessly to address the increased demand for food assistance resulting from the COVID-19 pandemic,” says Gerry Smith, CEO for Boca Raton-based Office Depot and The ODP Corp. “Now more than ever, we are committed to strengthening local communities and hope that this donation will help to provide relief for …

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DevelopmentFloridaMultifamilySoutheast

McShane Construction Delivers 134-Unit Multifamily Community in Tampa Bay Area

by Alex Tostado

CLEARWATER, FLA. — McShane Construction Co. has delivered 1100 Apex, a 134-unit multifamily community in downtown Clearwater. The property offers studio through three-bedroom floor plans. Unit interiors feature stainless steel appliances, quartz and granite countertops, wood plank flooring and private balconies. Communal amenities include a clubhouse, fitness center, putting green, pool, outdoor lounge with grills, a fire pit and private cabanas. The asset also includes a parking deck with 202 parking spaces and 4,300 square feet of ground-level retail space. GSP Development developed the 15-story building and Kimmich Smith Architecture designed the community. Located on 2.1 acres at 1100 Cleveland St., the asset is situated equidistant from Tampa Bay and downtown Tampa.

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District of ColumbiaRetailSoutheast

Commerce Department: June Retail Sales Rise 7.5 Percent from May

by Alex Tostado

WASHINGTON, D.C. — The advanced estimate for June retail sales nationwide is up 7.5 percent on a month-over-month basis, the U.S. Commerce Department reports. Consumers visited stores and auto dealerships in-person for the second straight month as businesses began reopening their doors. Retail sales totaled $524.3 billion in June, up from $487.7 billion in May. The most recent figure shows spending is near pre-pandemic levels, as the Commerce Department reported that February 2020 spending reached $527.3 billion. The Commerce Department also revised the May retail sales rate up by 50 basis points to 18.2 percent growth from April. Matthew Shay, president and CEO of the National Retail Federation (NRF), says that while the growth is trending positively, the increasing number of positive COVID-19 cases across the country could slow sales in the months to come. As of this writing, there were nearly 3.6 million positive cases in the U.S, according to Johns Hopkins University (JHU). Additionally, JHU reports that there were 77,255 new cases Thursday, setting a single-day record. “The retail sales numbers from last month were very encouraging and reflect continued progress in the right direction,” says Shay. “However, recent spikes in infection rates across the country have us focused …

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