Southeast

CBRE Brokers Sale of 58,434 SF Shops at High Street Retail Village in Williamsburg, Virginia

by John Nelson May 1, 2025

WILLIAMSBURG, VA. — CBRE has brokered the sale of Shops at High Street, a 58,434-square-foot retail village located at 1430 High St. in Williamsburg. The Khoshbin Co., a privately held real estate investment and management firm based in Costa Mesa, Calif., sold the center for an undisclosed price. CBRE’s National Retail Partners Mid-Atlantic team represented the seller in the transaction, while White House Realty Group represented the buyer, an undisclosed private investor. Shops at High Street was 98 percent leased at the time of sale to tenants including Movie Tavern, Five Guys, Subway, Orangetheory Fitness, The Learning Experience and 1-800 Flowers.

May 1, 2025

Development Florida Loans Multifamily Southeast

Centennial Bank Provides $17.5M Construction Loan for One Daytona Multifamily Project in Florida

by John Nelson May 1, 2025

DAYTONA BEACH, FLA. — Centennial Bank has provided a $17.5 million construction loan for The Edge Collection at Icon One Daytona, a 129-unit apartment community located at 200 Daytona Blvd. in Daytona Beach. The midrise property is part of One Daytona, NASCAR’s master development across from Daytona International Speedway that includes residential options and two hotels, including The Daytona, a Marriott Autograph Collection Hotel. Centennial Bank provided the loan for Daytona Apartment Holdings II LLC, an entity owned by Prime Hospitality Group. The developer plans to deliver The Edge Collection at Icon One Daytona later this month.

May 1, 2025

Development Florida Loans Multifamily Southeast

MG Developer Obtains $105M Construction Loan for Multifamily Development in Hialeah, Florida

by John Nelson April 30, 2025

HIALEAH, FLA. — MG Developer has obtained a $105 million construction loan for Metro Parc South, a 347-unit apartment community located at 954 and 934 E. 25th St. in Hialeah, a suburb of Miami. The multifamily project will be part of MG Developer’s 2.3 million-square-foot Metro Center master project that also includes the 10-story Metro Parc tower, the 55-unit Metro Station and the 620-unit Metro Parc North community. New York-based SCALE Lending, the debt financing arm of Slate Property Group, provided the new loan to MG Developer, which plans to break ground on Metro Parc South in the second quarter. Tal Bar-Or, David Strongwater and Parker Thelander of Lantern Real Estate arranged the financing. The development will comprise studio, one- and two-bedroom apartments. The design-build team includes Miami-based Modis Architects and Coral Gables-based KAST Construction.

April 30, 2025

Acquisitions Retail Southeast Tennessee

Halpern Enterprises Acquires 166,035 SF Shopping Center in Knoxville, Tennessee

by John Nelson April 30, 2025

KNOXVILLE, TENN. — Atlanta-based Halpern Enterprises Inc. has acquired Harvest Park Centre, a 166,035-square-foot shopping center located at 5439 Washington Pike in Knoxville. Built in 2007 on the city’s east side, the center’s tenant roster includes Ross Dress for Less, Five Below, Marshalls, Old Navy, Ulta Beauty, Bath & Body Works, AT&T, Sports Clips and Sally Beauty Supply. Target shadow-anchors Harvest Park Centre, which is the second acquisition in Tennessee for Halpern Enterprises. The seller and sales price were not disclosed.

April 30, 2025

Affordable Housing Development Florida Multifamily Southeast

Pinnacle Opens 215-Unit Affordable Housing Community in South Miami-Dade County

by John Nelson April 30, 2025

PRINCETON, FLA. — Miami-based Pinnacle has opened Pinnacle at Tropical Pointe, a new 215-unit affordable housing community located at 25155 S.W. 136th Ave. in Princeton, a city in south Miami-Dade County. The property features a mix of one- to four-bedroom apartments spread across six garden-style buildings, with amenities including a swimming pool, fitness center, business center and a playground. The community is designated for households earning up to 60 percent of the area median income. Pinnacle’s capital partners on the project included Bank of America, the Florida Housing Finance Corp., Miami-Dade County and Citibank.

April 30, 2025

Acquisitions Civic District of Columbia Office Southeast

Easterly Government Properties Purchases 289,873 SF Civic Office Building in D.C.

by John Nelson April 30, 2025

WASHINGTON, D.C. — Easterly Government Properties Inc. has purchased a 289,873-square-foot civic office building in northeast Washington, D.C. The address, seller and sales price were not disclosed. The property was 98 percent leased at the time of sale to tenants including the District of Columbia Government, which recently extended its 237,118-square-foot lease at the building through 2038 with the option to renew for an additional five years. The District’s government agencies operating within the facility include the District of Columbia Public Schools and the Department of Energy & Environment, both of which have occupied the building since 2009. Other tenants include the U.S. federal government, which occupies 26,327 square feet under the General Services Administration (GSA) banner, and private tenants, which occupy 20,299 square feet. The civic building has a weighted average remaining lease term (WALT) of 11.6 years.

April 30, 2025

Florida Leasing Activity Retail Southeast

Trademark Adds New Tenants at Legacy Place Shopping Center in Palm Beach Gardens, Florida

by John Nelson April 30, 2025

PALM BEACH GARDENS, FLA. — Trademark Property Co. has added a new wave of tenants to join Legacy Place, a 427,000-square-foot, open-air lifestyle shopping center located in Palm Bach Gardens. The new tenants include three fitness concepts: Yoga Joint (now open), Jet Set Pilates (opening this summer) and EoS Fitness (30,000 square feet, now open). Additionally, Tampa General Hospital Cancer Institute plans to open an 18,000-square-foot clinic at Legacy Place in 2026, and Cabinet IQ of Palm Beach plans to open its store this summer. Existing tenants at Legacy Place include Total Wine & More, Barnes & Noble, Ethan Allen, The Container Store, Best Buy, Bungalow Palm Beach, Prime IV and The Good Feet Store. Trademark assumed management of the 48-acre property in May 2024.

April 30, 2025

Development Florida Loans Multifamily Southeast

PMG Secures $413M Construction Loan for One Twenty Brickell Residences in Miami

by John Nelson April 29, 2025

MIAMI — PMG has secured a $413 million construction loan for One Twenty Brickell Residences, a two-tower condominium and apartment development located at 120 S.W. 8th St. in Miami’s Brickell Financial District. Christopher Peck, Brian Gaswirth, Nicco Lupo, Nick Lavin, Jimmy Calvo and Paul Adams of JLL arranged the financing through an Ares Real Estate fund and Monarch Alternative Capital. Andrew Warman, Jon Blank and Paton Marion of PMG’s capital markets team worked on the deal internally. PMG plans to break ground on One Twenty Brickell Residences the first week of May and complete the development in 2028. The condominium tower will rise 37 stories and house 266 fully furnished, for-sale condominiums, as well as 60,000 square feet of amenities that include an owner’s lounge, infinity-edge pool and an upscale fitness and wellness center that includes treatment rooms, a yoga lawn, outdoor terraces and a high-end fitness studio. The condos were 91 percent sold at the time of financing, and each condo owner will have a deed to an office suite. The multifamily high-rise, which will be operated by Sentral, will rise 41 stories and feature a mix of studio, one-, two- and three-bedroom apartments, as well as a 48,000-square-foot amenity …

April 29, 2025

Acquisitions Company News Hospitality Maryland Southeast

Marriott to Acquire CitizenM Hotel Brand for $355M

by John Nelson April 29, 2025

BETHESDA, MD. — Marriott International has reached an agreement to acquire the brand and related intellectual property of citizenM, a hospitality brand based in the Netherlands. The deal is valued at $355 million. The citizenM brand comprises 36 open hotels spanning 8,544 rooms, with properties located in cities such as Paris, Rome, London, New York City and Miami. There are three more citizenM-branded hotels in the development pipeline totaling more than 600 rooms that are set to open by mid-2026. The citizenM select-service lodging brand was founded in 2008. Following closing, the citizenM portfolio will become part of Marriott’s system, with the hotels owned and leased by citizenM subject to new long-term franchise agreements with Marriott. The seller may also receive earn-out payments up to $110 million that are based on the future growth of the brand over a specified, multi-year timeframe. The closing of the transaction is subject to various customary conditions, including U.S. regulatory approval. Morgan Stanley & Co. International plc and Eastdil Secured acted as financial advisors to citizenM in the transaction.

April 29, 2025

Development Leasing Activity Maryland Mixed-Use Restaurant Retail Southeast

MCB Adds Streets Market Grocer to $170M Reservoir Square Mixed-Use Development in Baltimore

by John Nelson April 29, 2025

BALTIMORE — MCB Real Estate has added Streets Market, a regional chain of grocery stores, to Reservoir Square, a $170 million mixed-use development underway in Baltimore. The project spans eight acres along the 600-850 block of West North Avenue. MCB is also adding locally based development firm Blank Slate Development to the project team, which includes the state-backed West North Avenue Development Authority. Streets Market will occupy 12,000 square feet on a 1.5-acre parcel that will also house 8,000 square feet of additional retail space. The grocery store is part of Phase II at Reservoir Square, which will include housing, additional retail options and the new 63,000 square-foot home to the Mayor’s Office of Employment Development (MOED), which is slated to open in 2026. Phase I includes for-sale homes currently under construction.

April 29, 2025

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