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Southeast

Portland-Shoals_Portland-Tenn
AcquisitionsIndustrialSoutheastTennessee

JLL Brokers Sale of 638,330 SF Industrial Development in Metro Nashville

by Hayden Spiess

PORTLAND, TENN. — JLL Capital Markets has brokered the sale of Portland Shoals Manufacturing Facility, a 638,330-square-foot industrial development located at 1500 Shoals Way in Portland, roughly 40 miles northeast of Nashville. Al. Neyer, which developed the property, was the seller. EQT Exeter Real Estate Income Trust (EQRT) acquired the development for an undisclosed price. Shoals Technologies Group fully occupies the property, which features 40-foot clear heights, 107 dock positions, four drive-in doors, 185-foot truck court depths and auto and trailer parking. JLL represented Al. Neyer in the transaction. 

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Logistics 16 at Ottawa Farms
GeorgiaIndustrialLeasing ActivitySoutheast

Three Tenants Sign Leases Totaling 695,560 SF at Industrial Campus in Savannah

by Hayden Spiess

SAVANNAH, GA. — Three tenants have signed leases at Phase I of Logistics 16 at Ottawa Farms, an industrial campus currently underway in Savannah. The new leases bring the campus, which currently totals 1 million square feet, to well above 50 percent preleased. Linemart Inc., Homylink Furniture Inc. and BFG Supply will occupy 232,000; 309,000; and 153,000 square feet at the development, respectively. Construction on the project began in the third quarter of 2022. Ryan Hoyt, Bennett Rudder, Chris Tomasulo and Lindsey Wilmot of JLL manage leasing on behalf of the landlord, McCraney Property Co. 

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Tires-Plus_Davenport-Fla
AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Negotiates Sale of Retail Property in Davenport, Florida Leased to Tires Plus

by Hayden Spiess

DAVENPORT, FLA. — Taylor McMinn Retail Group of Marcus & Millichap has negotiated the sale of a new construction, single-tenant retail property located in Davenport, roughly 30 miles southwest of Orlando. Tires Plus occupies the building, which totals 6,262 square feet, on a 15-year lease corporately guaranteed by Bridgestone. Don McMinn of the Taylor McMinn Retail Group arranged the transaction between the seller, a developer, and the buyer, a local 1031-exchange investor.  “This our 16th Firestone closing, and we are marketing four more in Florida, North Carolina, South Carolina and Virginia,” says McMinn. “Due to the strong credit, quality of the locations and limited inventory, we continue to see high demand and low cap rates for Bridgestones.”

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Alloro-University-Groves_Sarasota-Fla
FloridaLoansSeniors HousingSoutheast

Aztec Group Arranges $54.5M Bridge Loan for Seniors Housing Community in Sarasota, Florida

by Hayden Spiess

SARASOTA, FLA. — Aztec Group has arranged a $54.5 million bridge loan for Alloro at University Groves, a seniors housing community located in Sarasota. An affiliate of United Group of Cos. is the borrower, and Mortgage REIT provided the debt. Developed in 2023, Alloro at University Groves features 183 units for residents aged 55 and older. Amenities at the community include a 12,587-square-foot clubhouse, fitness center, yoga room, salon, movie theater, pickleball and bocce courts, a spa, community garden, dog park and onsite dining facilities. 

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Atlanta-Opera
CivicDevelopmentGeorgiaSoutheast

Atlanta Opera to Open $45M Performing Arts Venue on the BeltLine

by Hayden Spiess

ATLANTA — The Atlanta Opera will open a $45 million performing arts venue on Woodward Way along the Atlanta BeltLine. The project is a redevelopment of the historic Bobby Jones Clubhouse. Upon completion, which is scheduled for summer 2027, the development will feature a 56,000-square-foot complex with a 200-seat recital hall, administrative offices, a costume shop, film studio, rehearsal hall and garden spaces. Theater Projects and A’kustics LLC will develop the recital hall. Allen Post of architecture firm Post Loyal is leading the design of the new facility. The project is part of the Atlanta Opera’s recently launched $110 million campaign, for which core funding has already been secured. 

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Cypress-Trace_Fort-Myers-Fla
AcquisitionsFloridaRetailSoutheast

Benderson Acquires 280,000 SF Shopping Center in Fort Myers, Florida

by Hayden Spiess

FORT MYERS, FLA. — Benderson Development has acquired Cypress Trace, a 280,000-square-foot shopping center located in Fort Myers. Grocer Winn-Dixie anchors the property, which spans 29 acres. Other tenants at the center include Five Below, Burlington and Ross Dress for Less. Benderson’s other recent acquisitions in the state include Carillon Place in Naples, North River Marketplace in Venice, Glengary Shoppes in Sarasota and Linton Commons in Delray Beach. 

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Greenview-Meadows_Gastonia-N.C
AcquisitionsMultifamilyNorth CarolinaSoutheast

Gindi Equities Sells 109-Unit Greenview Meadows Multifamily Community in Metro Charlotte

by Hayden Spiess

GASTONIA, N.C. — Gindi Equities has sold Greenview Meadows, a 109-unit multifamily community located in Gastonia, roughly 20 miles west of Charlotte. Gindi, which acquired the property for $10 million in February 2021, sold the community to an undisclosed buyer for $14.5 million. Located at 1613 Greenview Drive, the development features apartments in two- and three-bedroom layouts. Amenities at the community include a pet park, playground, picnic areas and a pool with a newly renovated deck. 

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IndustrialLeasing ActivitySoutheastVirginia

NEFCO Construction Supply Signs 163,853 SF Lease Expansion at Northlake Distribution Center Near Richmond, Virginia

by Hayden Spiess

ASHLAND, VA. — NEFCO Construction Supply has signed a 163,853-square-foot lease expansion at Lingerfelt’s Northlake Distribution Center industrial development in Ashland, roughly 20 miles north of Richmond. NEFCO will occupy additional space at Building C, which is situated at 11800 N. Lakeridge Parkway. Jason Hetherington, Brad Lowry, Doug Tice and Mike Puzzo of CBRE represented the tenant in the lease negotiations. Matt Anderson and Harrison McVey of Range Commercial Partners represented Lingerfelt. Northlake Distribution Center totals 293,187 square feet. Lingerfelt acquired the property in March 2023 and has executed a capital improvement program including roof replacements, asphalt replacements, building painting and LED retrofits. 

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DevelopmentIndustrialLoansSouth CarolinaSoutheast

Rushmark Obtains Construction Loan for 775,000 SF Industrial Development in Metro Charleston

by John Nelson

JEDBURG, S.C. — Rushmark Properties has obtained a construction loan for the development of Berkeley Commerce Center, a 775,000-square-foot industrial park in the Charleston suburb of Jedburg. Site work is currently underway, and Rushmark plans to break ground on the first of the property’s two buildings this fall. JLL Capital Markets arranged an undisclosed amount of construction financing through United Bank for the development. The first building at Berkeley Commerce Center will span 505,440 square feet and include 2,500 square feet of office space, cross-dock configuration and 36-foot clear heights. At 267,840 square feet, the second building will feature 1,200 square feet of office space, rear-load configuration and 32-foot clear heights. Rushmark expects to deliver the first two buildings in fourth-quarter 2025. The site, which fronts I-26, has the potential for three additional buildings that would bring the development to a total of 2.6 million square feet, according to Rushmark. The project team includes architect LS3P Associates, civil engineer Thomas & Hutton and general contractor HITT Contracting. Lee Allen, Kevin Coats and Tyler Smith of JLL will lead leasing and marketing efforts.

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