GROVELAND, FLA. — JLL has arranged the $97.3 million sale of Turnpike Logistics Center, a Class A distribution center located at 19800 S. Obrien Road in Groveland, about 31 miles west of Orlando. Built in 2023, the 977,441-square-foot property was fully leased to Duke Energy, a utility company that uses the facility as its Florida headquarters and distribution hub. John Huguenard, Luis Castillo, Cody Brais, Taylor Osborne and David Orta Jr. of JLL represented the seller, Scannell Properties, in the transaction. Goldman Sachs Alternatives was the buyer. The facility features 40-foot clear heights, 212 dock-high doors, four drive-in doors, 130-foot truck court depths, 381 automobile parking spaces, 235 truck/trailer spaces and a 2.6-acre IOS laydown yard.
WASHINGTON, D.C. — A partnership between Garfield Investments and Broad Creek Capital has acquired a 285,000-square-foot, eight-story office building located at 300 M St. SE in Washington, D.C.’s Navy Yard district. The seller and sales price were not disclosed. Bradley Allen of Eastdil brokered the transaction. Situated two blocks from the Navy Yard Metro Station and opposite the Washington Navy Yard, the property was 53 percent leased at the time of sale to tenants including defense firms and subcontractors of the U.S. Navy. The office building includes a 7,000-square-foot conference facility, fitness center, 24-hour security and 304 underground parking spaces. Garfield and Broad Creek have selected Greg Tomasso of Avison Young to handle leasing at 300 M.
BALTIMORE — MCB Real Estate has broken ground on a $44 million civic project within Reservoir Square, a $170 million mixed-use development in West Baltimore. The four-story, 63,000-square-foot project is for the new location of the Mayor’s Office of Employment Development (MOED) and will comprise advanced career skills-building classrooms, collaborative workspaces and upgraded technology learning labs. The construction timeline was not released. Reservoir Square is located along the 600-850 block of West North Avenue, a site that once housed a blighted mall and public housing. The development is a partnership between MCB, Atapco Properties and MLR Partners. Other partners include the City of Baltimore, the Maryland Department of Housing and Community Development, the Maryland Economic Development Corp., P3 –Foundation Inc. and the Neighborhood Impact Investment Fund.
JACKSONVILLE, FLA. — Berkadia has arranged the $44.6 million sale of Addison Landing, a 289-unit, garden-style multifamily community located in Jacksonville. Greg Rainey of Berkadia represented the seller, Florida-based WRH Realty, in the transaction. The buyer was Tampa, Florida-based Argyle Real Estate Capital. Matt Robbins, Mitch Sinberg, Brad Williamson, Scott Wadler and Hugo Hernandez of Berkadia also secured $31.3 million in financing through a Freddie Mac loan for the acquisition. The 10-year floating loan features interest-only payments for seven years. Built in 2007 on a 19-acre site, Addison Landing comprises 34 two- and three-story buildings. Floorplans at the property include one-, two-, three- and four-bedroom units totaling up to 1,425 square feet, according to Apartments.com. Select units also offer private, fenced yards, vaulted ceilings and lake views. Amenities at the community include a swimming pool, sun deck, outdoor kitchen and poolside lounge, clubhouse with a fitness center, billiards room, business center, playground, dog park, pet stations, package locker system and detached garages. The revious ownership invested $4.6 million in community enhancements.
DURHAM, N.C. — Charlotte-based Crescent Communities has broken ground on NOVEL UHill, a 400-unit multifamily community located in the University Hill neighborhood of Durham. Situated on 6 acres, the five-story midrise building will offer studio to three-bedroom units, as well as 19 freestanding townhomes with two- and three-bedroom layouts. Amenities at the complex will include a 1,450-square-foot indoor-outdoor sky lounge, community clubroom, resort-style swimming pool with lounge chairs and a grilling station, fitness studio with private yoga rooms, table tennis area, coworking lounge, two outdoor courtyards, a fenced-in dog park and an onsite Land of a Thousand Hills coffee shop. In addition to UHill Walls, a 40,000-square-foot public art installation, NOVEL UHill will incorporate original artwork throughout the property. This project follows the debut of NOVEL Morrisville and NOVEL Cary earlier this spring, both of which are currently leasing. Crescent Communities Construction will serve as the development’s general contractor, with KTGY serving as the project’s architect. Kimley Horn & Associates will handle civil engineering and landscape architecture. Financial partners for the project include Kyuden Urban Development America LLC and NEC Capital Solutions America Inc. Santander Bank will provide debt financing for the project.
POMPANO BEACH, FLA. — Fort Lauderdale-based Stiles and Charlotte, North Carolina-based FCA Partners have completed the redevelopment of Shopper’s Haven, a 200,144-square-foot retail center in Pompano Beach, roughly 36 miles north of Miami. A new Publix Supermarket — which opened June 26 — anchors the center. Dunphy Development provided additional development and construction management services, and Hawkins Construction served as the project’s general contractor. Stiles and FCA acquired the property in 2024. First Horizon Bank provided financing for both the property acquisition and redevelopment Redevelopment of the site included ground-up construction of the new Publix, along with upgrades to the property’s exterior, walkways, landscaping and parking areas. Several additional retailers and restaurants are scheduled to join the property’s tenant roster, which currently includes Walgreens, Outback Steakhouse, Dunkin’ Donuts, Xfinity, Leslie’s Pool Supplies, Michael’s, Bealls, YouFit and Domino’s.
POMPANO BEACH, FLA. — Stream Realty Partners has negotiated the sale of a 10-acre industrial development site located at the corner of NW 33rd St. and NW 27th Ave. in Pompano Beach. Steve Medwin and Nick Wigoda of Stream represented the buyers, Foundry Commercial and Crow Holdings Capital, in the transaction. Situated near the Florida Turnpike, Interstate 95 and Port Everglades, the site will be developed into a two-building industrial campus that totals approximately 182,000 square feet.
LONDON, KY. — Lexington-based NAI Isaac has arranged a lease with Baptist Health, a not-for-profit healthcare system, at a 30,000-square-foot medical facility in London in southeast Kentucky. Adjacent to the London Women’s Care Medical Plaza, the three-story building was built in 1992 and is located at 1406 W. Fifth St. Paul Ray Smith Jr. and Zach Smith of NAI Isaac represented the landlord in the lease negotiations.
LOS ANGELES AND WASHINGTON, D.C. — Los Angeles-based JRK Property Holdings has acquired two apartment communities totaling 684 units, Chase Knolls in Los Angeles and WestEnd25 in Washington, D.C., in two separate transactions for a combined total of $315 million. Located on 14 acres in the Los Angeles neighborhood of Sherman Oaks, Chase Knolls is a 401-unit garden-style community that encompasses nearly two city blocks. The property was originally built in 1949 to include 260 Art Deco-inspired apartment homes across 19 one- and two-story residential buildings. In 2021, a new clubhouse and resort-style swimming pool were integrated into the community, along with 141 new units that were constructed to occupy six additional residential buildings. JRK also plans to make further enhancements to the complex to improve the community amenities and common areas. According to Cushman & Wakefield, which marketed the property for sale on behalf of the undisclosed seller, Chase Knolls is one of only 12 apartment communities exceeding 100 units built in Sherman Oaks over the past 75 years, a testament to the significant development hurdles in the area, such as limited land and high barriers to entry. The second property, WestEnd25, is a 283-unit high-rise apartment community that …
PANAMA CITY, FLA. — Topgolf will open its newest outdoor venue at 15475 Topgolf Way in Panama City Beach tomorrow. The new Topgolf will be the Dallas-based operator’s 10th outdoor location in Florida and its first on the state’s Emerald Coast. The property is situated along Powell Adams Drive near Panama City Beach Parkway and adjacent to Pier Park. The venue will employ between 275 and 300 staffers and feature 74 outdoor climate-controlled hitting bays spanning two levels, each furnished with lounge-type couches or high-top tables. The Topgolf will also feature a full-service bar and restaurant, outdoor patio with lawn games and a 22-foot video wall with more than 140 HDTVs.