Southeast

Nashville’s Industrial Market: A Powerhouse Fueled by Demand, Strategic Growth

by John Nelson May 5, 2025

Nashville’s industrial real estate market closed 2024 with a clear message: this metro is a logistics juggernaut, blending robust demand, strategic location and a dynamic investment landscape. With a vacancy rate ticking up to 4.1 percent in the fourth quarter amid new supply, yet absorption exceeding 4.2 million square feet year-to-date, the market’s resilience stands out. Rents climbed to $9.94 per square foot, and industrial sales topped $1.4 billion — a 37 percent surge year-over-year. The takeaway is unmistakable for stakeholders: Nashville’s industrial sector thrives on its ability to absorb growth while signaling new opportunities for 2025. Economic engines Macro and local economic trends underpin this strength. Nationally, e-commerce sales hit $308.9 billion in fourth-quarter 2024, a 9.4 percent increase year-over-year, according to Commercial Edge. This uptick amplifies demand for warehouse and distribution space. Locally, Nashville’s job growth moderated to 0.9 percent in 2024, according to Oxford Economics, down from 3.2 percent in 2023. But industrial sectors shone in the report: manufacturing jobs grew 2.2 percent and trade, transportation and utilities grew by nearly 0.5 percent. The Nashville Area Chamber of Commerce reported that 79 percent of 2024 business relocations and expansions involved industrial users, promising 3,309 new jobs. With …

May 5, 2025

Development Mixed-Use Tennessee Top Stories

Ridgeline Development, Deep Cove Break Ground on 550,000 SF Mixed-Use Project in Nashville

by Hayden Spiess May 2, 2025

NASHVILLE, TENN. — Ridgeline Development Partners (RDP) and Deep Cove Partners (DCP) have broken ground on The Bend at Capitol District, a 550,000-square-foot mixed-use project in Nashville. The project marks an expansion of the TownePlace Suites at North Capitol development, which was completed in 2020. Nashville-based Smith Gee Studio and New York-based S9 Architecture designed the project, which will feature a 188-key Moxy-branded hotel, 10-story residential tower and 17,000 square feet of retail space within an interconnected paseo. The residential building will include 128 fully furnished extended stay units and 133 apartment units. Completion of the development is scheduled for early 2027. Skanska USA is the general contractor. The project team also includes engineers RaganSmith Associates and Power Management Corp. JLL is serving as project manager, and The Gettys Group will lead branding, interior design and procurement efforts. The Bend at Capitol District is located near the Tennessee State Capitol and Metro Courthouse and will be within walking distance of the Music City downtown entertainment district. — Hayden Spiess

May 2, 2025

Development Florida Hospitality Southeast

Moss Completes 248-Room Opal Sol Luxury Resort & Spa in Clearwater Beach, Florida

by John Nelson May 2, 2025

CLEARWATER BEACH, FLA. — Moss has completed Opal Sol, a 680,000-square-foot luxury resort and spa located in Clearwater Beach. Designed by Nichols Architects, Opal Sol offers 248 suites with private balconies, three elevated decks, a spa with a full-service salt room and fitness center, four ballrooms, future retail storefronts along the Beach Walk and four restaurants, including Drift, Lolita’s, Beach Market and Toast. Additionally, an elevated pedestrian bridge now connects Opal Sol to its sister property, Opal Sands. The hotels within the Opal Collection offer a combined 125,000 square feet of indoor meeting space, plus 55,000 square feet of outdoor space with roughly 800 rooms and parking for over 1,000 vehicles in the Clearwater Beach market.

May 2, 2025

Development Florida Loans Multifamily Southeast

13th Floor, JSB Capital Group Obtain $67.5M Construction Loan for Multifamily Project in Davie, Florida

by John Nelson May 2, 2025

DAVIE, FLA. — A joint venture between 13th Floor Investments and JSB Capital Group has obtained a $67.5 million construction loan for Parks at Davie, a 383-unit multifamily project in the north Miami suburb of Davie. Santander Bank provided the loan. Peter Mekras of Aztec Group advised the joint venture on the capitalization, which also included an undisclosed amount of preferred equity from Houston-based Marble Capital. Designed by Corwil Architects, Parks at Davie will feature studio, one-, two- and three-bedroom units ranging in size from 568 square feet to 1,415 square feet. Amenities at the property will include a clubhouse with a resort-style pool, fitness center, business center with coworking areas and about 6,200 square feet of ground floor retail space. The site for Parks at Davie is located on the east side of Broward College’s Davie campus near the Florida Turnpike. 13th Floor and JSB Capital expect to break ground later this month, with completion slated for 2027.

May 2, 2025

Development Florida Multifamily Southeast

Vista Residential Breaks Ground on 221-Unit Multifamily Development in Palm Beach Gardens, Florida

by John Nelson May 2, 2025

PALM BEACH GARDENS, FLA. — Vista Residential Partners has broken ground on Gardens Vista, a 221-unit multifamily development located in the South Florida city of Palm Beach Gardens. Situated on 6.7 acres, Gardens Vista is less than one mile from Gardens Mall and the Nova Southeastern University campus. Atlanta-based Niles Bolton Associates is designing the project. The four-story, Spanish colonial-styled community will offer 131 one-bedroom, 68 two-bedroom and 22 three-bedroom apartments, with 10 percent of its units designated as workforce housing. Amenities at the complex will include a resort-style swimming pool, gym, two pickleball courts, interactive game room, coworking spaces, 24/7 package concierge, electric vehicle charging stations, dog park and a nature preserve. Vista Residential has partnered with a global asset manager representing an unspecified state-sponsored pension fund, as well as a Midwest insurance company, for the financing of the development.

May 2, 2025

Alabama Leasing Activity Retail Southeast

First National Realty Signs OneLife Fitness to Anchor Shopping Center in Bessemer, Alabama

by John Nelson May 2, 2025

BESSEMER, ALA. — First National Realty Partners (FNRP) has signed a lease with OneLife Fitness to bring Tannehill Promenade, a 347,151-square-foot shopping center located at 4889 Promenade Parkway in Bessemer, to 98 percent occupancy. OneLife Fitness will occupy the former 57,455-square-foot JC Penney space — which has been vacant at the shopping center since 2017. The regional fitness operator offers group fitness classes, personal training, spa-like recovery areas and upscale gym equipment. The new club is slated to open in December, marking the brand’s first location in the Birmingham market. Earlier this year, FNRP also signed a lease with Aqua Dermatology for over 2,300 square feet at Tannehill Promenade. Other tenants at the property include Publix, Target, Ross Dress for Less, T.J. Maxx and Burlington.

May 2, 2025

Acquisitions Georgia Loans Multifamily Southeast

Red Oak Capital Provides $8.7M Acquisition Loan for Multifamily Property in East Point, Georgia

by John Nelson May 2, 2025

EAST POINT, GA. — Red Oak Capital Holdings has provided an $8.7 million bridge loan for the acquisition and renovation of Garden Courts Apartments, an 86-unit multifamily community in the southwestern Atlanta suburb of East Point within three miles of Hartsfield-Jackson Atlanta International Airport. Underwritten within Red Oak’s Opportunistic Bridge Loan Program, the nonrecourse, interest-only loan carries a two-year term with a 73.9 percent loan-to-value ratio. Dave Christensen, Thomas Gorsk and James Myatt of Red Oak originated the loan. Arden Gist of Gist Group LLC arranged the financing on behalf of the borrower, Atlanta-based Miller Capital Properties. The loan proceeds will fund the property’s acquisition and approximately $1.3 million in capital improvements, equating to roughly $15,350 per unit. Interior upgrades will include new appliances, flooring, paint, doors, cabinetry and bathroom fixtures. Exterior renovations will address roofing, siding, landscaping, asphalt and HVAC system repairs, among other common area enhancements. Situated at 4060 Janice Drive, Garden Courts Apartments sits on 5.5 acres and comprises six, two-story buildings. Built in 1983, the property features 24 one-bedroom, 60 two-bedroom and one three-bedroom apartments, as well as a single-family rental home. Amenities at the complex include a swimming pool, laundry facilities, basketball court and a …

May 2, 2025

Acquisitions Georgia Industrial Southeast

JLL Arranges $116.5M Sale of 1.2 MSF Industrial Portfolio in Dalton, Georgia

by John Nelson May 1, 2025

DALTON, GA. — JLL has arranged the $116.5 million sale of a nearly 1.2 million-square-foot industrial portfolio situated within Greenpoint Industrial Park in Dalton, a city in north Georgia near the Tennessee border. The portfolio includes 128 Innovation Drive, a 603,166-square-foot facility delivered in 2023, and 342 Innovation Drive, a 573,578-square-foot property delivered in January 2024. A joint venture between LX Pantos and KOBC (Korea Ocean Business Corp.) advised by IGIS Asset Management acquired the two facilities from the developer, Dossche Holdings. Dennis Mitchell, Britton Burdette, Jim Freeman and Maggie Dominguez of JLL represented the seller in the transaction, and Miyeon Lee of JLL’s International Capital Coverage team sourced the buyer. Austin Kriz, Tom Cromartie and Rachel Roberts of JLL were the leasing agents for both properties, which are situated near I-75 and the Appalachian Regional Port.

May 1, 2025

Florida Leasing Activity Restaurant Retail Southeast

Edens Revitalizes Downtown Palm Beach Gardens Development With 13 New Retailers, Capital Improvements

by John Nelson May 1, 2025

PALM BEACH GARDENS, FLA. — Edens has added a new wave of retailers to join the roster at Downtown Palm Beach Gardens, a 403,000-square-foot open-air retail center in Palm Beach Gardens. Recently opened concepts include Skin Laundry, MeTime Salon, TINA Stephens, ZOE Boutique and Vagabond Kids Apparel. Committed tenants that will open soon include Pura Vida Miami, Crew Factory, Sweathouz, Tweeds Custom Suits, Humanaut Health, Van Leeuwen Ice Cream, Muse Paint Bar and Laser Away. Existing tenants include Whole Foods Market, REI, CMX Cinemas, Life Time Fitness, The Cheesecake Factory, Sweetgreen and Yard House, among others. In addition to the new retail concepts, Edens has revitalized Downtown Palm Beach Gardens with facade work, new decorative elements, landscaping, signage and outdoor furniture at the development’s “Northern Strand” area near the REI and CMX Cinemas. Other improvements include installing five new interactive digital directories and adding a cut-through running east-west through the development.

May 1, 2025

Development Multifamily North Carolina Southeast

NRP Group Breaks Ground on 377-Unit Apartment Community in Matthews, North Carolina

by John Nelson May 1, 2025

MATTHEWS, N.C. — The NRP Group has broken ground on a new 377-unit apartment community located at 11330 Brigman Road in Matthews, a southeast suburb of Charlotte. Situated along I-485 adjacent to the Mecklenburg County Sportsplex, the 15-acre development will feature residential buildings housing one-, two- and three-bedroom apartments, as well as a swimming pool, dog park, fitness center, business center with coworking space and a retail café. The unnamed property will also include 18,900 square feet of commercial space and about 28 apartments reserved for households earning 80 percent of the area median income (AMI). The NRP Group expects to deliver the community in November 2026.

May 1, 2025

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