Wednesday, February 18, 2026
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AcquisitionsFloridaRetailSoutheast

Sterling Organization Sells Shopping Center Near Orlando to AEW Capital for $72.8M

by Camren Skelton

WINTER PARK, FLA. — Sterling Organization has sold Center of Winter Park in suburban Orlando to AEW Capital Management for $72.8 million. The 244,977-square-foot shopping center is located at the southwest corner of Orlando Avenue and Lee Road in Winter Park, roughly eight miles northeast of Orlando. Sterling’s value-add institutional fund, Sterling Value Add Partners LP, originally acquired the asset in 2013 for $27.7 million and re-tenanted the property after Kmart shuttered its store at the center in 2014. Sterling backfilled the vacant box with a Marshalls/HomeGoods combination store, Ross Dress for Less and DSW. An adjacent Office Depot was downsized to its smaller prototype and Five Below opened in what was Kmart’s garden center. Sterling Organization also upgraded the property’s façades, lighting, parking lot, signage and landscaping. In addition, the firm signed leases with Petco, Zoës Kitchen, Blaze Pizza, Tropical Smoothie Café, Great Clips, MetroPCS and Stretch Zone, and negotiated lease extensions with existing anchors LA Fitness and Michaels. Center of Winter Park was 97 percent occupied at the time of sale. HFF arranged the transaction on behalf of Sterling Organization.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Dominion Realty Partners Breaks Ground on $59M Apartment Community in Triangle

by Camren Skelton

MORRISVILLE, N.C. — Dominion Realty Partners (DRP) has broken ground on The Residences at Shiloh Crossing, a $59 million apartment development in Morrisville, about 14 miles west of Raleigh. The 318-unit community will feature a resort-style swimming pool and a 5,000-square-foot clubhouse and community center. In addition, Shiloh Crossing will be designed to obtain a green designation from the National Association of Home Builders (NAHB). DRP expects to deliver the first units at Shiloh Crossing in mid-2020, and wrap up construction on the project in late 2020. Capital Bank — formerly First Tennessee Bank — is providing construction financing to DRP. Rule Joy Trammell + Rubio is the architect, Batson Cook Construction Co. is the general contractor and Priest Craven & Associates is the civil engineer. Justin Good of HFF brokered the land sale on behalf of the seller, as well as provided financial advisory services to DRP.

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AcquisitionsMultifamilySoutheastWest Virginia

Marcus & Millichap Negotiates $29.2M Sale of Two Multifamily Assets Near West Virginia University

by Camren Skelton

MORGANTOWN, W.VA. — Marcus & Millichap has arranged the $29.2 million sale of two multifamily communities in Morgantown. The sale included Bon Vista and The Villas, a 350-unit complex located on Stewartstown Road, and the 59-unit Barrington North, located roughly two miles away on Wedgewood Drive. Both properties are near West Virginia University and the 1,000-acre WestRidge Business Park development. Community amenities across the properties include basketball and tennis courts, covered parking, swimming pools and private balconies. The transaction was handled in partnership with Jane Scott of Old Spruce Realty. Scott is Marcus & Millichap’s broker of record in West Virginia. The names of the buyer and seller were not disclosed.

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Leasing ActivityNorth CarolinaRetailSoutheast

Lat Purser Arranges Leases With Five Tenants at New Retail Center in Metro Charlotte

by Camren Skelton

HARRISBURG, N.C. — Lat Purser & Associates has arranged leases with five new tenants at Harris Square, a newly developed, 67,200-square-foot shopping center in Harrisburg, located 20 miles northeast of Charlotte. Burgerim, a fast-casual gourmet burger restaurant, will open a 1,800-square-foot location at the center this fall for one of its first locations in the Charlotte area. Chick-fil-A has leased an outparcel at Harris Square for a new restaurant. Construction on the store is expected to start this month, with an opening scheduled for the first quarter of 2019. Dough Re Mi Donuts has leased space at Harris Square for its first ever physical store. The locally owned and operated retailer will serve made-to-order doughnuts, cupcakes, doughnut parfaits, doughnut sundaes and specialty items such as bacon, egg and cheese on a doughnut when it opens later this month. The Groomery by PetSmart — a concept launched in 2017 — has leased 1,800 square feet at Harris Square for its first North Carolina store. The Groomery offers traditional pet grooming services as well as pampering “spaw” treatments and a self-service dog wash. The fifth tenant — Harrisburg Animal Hospital — has leased 2,400 square feet at the center, and is expected to open in …

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Leasing ActivityLouisianaRetailSoutheast

O’Connor Capital Signs Three Tenants at Upscale Shopping Center in New Orleans

by Camren Skelton

NEW ORLEANS — O’Connor Capital Partners has signed three tenants to The Shops at Canal Place, an upscale, 260,000-square-foot shopping center in New Orleans. Louis Vuitton, Tory Burch and G Star Raw will each open their first and only Gulf Region locations at the center between now and the first quarter of 2019. The retailers join tenants such as Saks Fifth Avenue, Brooks Brothers, Tiffany & Co., lululemon athletica, Anthropologie and Vineyard Vines. Louis Vuitton will open a 4,000-square-foot store on the first floor of Canal Place in February 2019. Tory Burch will open a 2,300-square-foot location in mid-September. G Star Raw, a luxury denim brand, will open this September, concentrating on men’s apparel. O’Connor Capital Partners, which leases and manages Canal Place, is also planning a renovation program that will take place over the next two years. The New York-based firm has partnered with architectural firm Gensler to revitalize the property, transforming the aesthetics and implementing other capital improvements.

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AcquisitionsNorth CarolinaOfficeSoutheast

PAC Receives $114.4M Loan to Acquire Wells Fargo-Anchored Office Tower in Raleigh’s CBD

by Camren Skelton

RALEIGH, N.C. — Preferred Apartment Communities Inc. (PAC) has acquired Wells Fargo Capitol Center, a 559,591-square-foot office building located at 150 Fayetteville St. in Raleigh’s central business district. PAC acquired the 29-story asset through its wholly owned subsidiary, Preferred Office Properties LLC. The sales price was not disclosed, but PAC financed the acquisition using a $114.4 million, first-mortgage loan from New York Life Insurance Co. The 10-year loan features a fixed interest rate of 4.27 percent. The Triangle Business Journal reports HighBrook Investors, which bought a majority stake in the tower last year, sold the asset. Wells Fargo Capitol Center serves as the regional headquarters for Wells Fargo Bank and features a bank branch on the first floor. City Club Raleigh, a private dining club, is located on the building’s 28th and 29th floors.

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AcquisitionsFloridaOfficeSoutheast

Colliers Arranges $59M Sale of Office Building in Downtown Jacksonville

by Camren Skelton

JACKSONVILLE, FLA. — Colliers International has arranged the $59 million sale of a 23-story office tower located at 76 S. Laura St. in downtown Jacksonville. VyStar Credit Union acquired the asset from a joint venture between CarVal Investors LLC and Mainstreet Capital Partners. Colliers arranged the transaction on behalf of the joint venture, which originally acquired the building in 2015 for $31.1 million. The previous ownership invested $2 million to update to property, which was originally constructed in 1989. In addition to mechanical and common area improvements, notable changes included the completion of a 612-space parking garage adjacent to the building, new elevator cabs, lobby improvements, food and beverage options, a fitness center, tenant lounge and a conference center. The new ownership will rename the property VyStar Tower. Colliers International Northeast Florida has been retained as the leasing agent for the building, which was more than 90 percent leased as a result of the sale.

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AcquisitionsGeorgiaMultifamilySoutheast

JLL Brokers $49.8M Sale of Multifamily Community Near Savannah

by Camren Skelton

POOLER, GA. — JLL has brokered the $49.8 million sale of Two Addison Place, a 325-unit apartment community in Pooler, roughly 14 miles west of Savannah. David Gutting, Derrick Bloom, Jim Sewell and Andrew Howard of JLL arranged the transaction on behalf of the seller, New York-based Wharton Realty, which originally acquired the property in 2016. Montgomery, Ala.-based B&M Management Co. LLC purchased the asset. Two Addison Place includes a mix of one-, two- and three-bedroom apartment units. The gated community is located less than five miles from the Tanger Outlets and features a saltwater pool, dog park, fitness center with a yoga room and a cyber café.

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AcquisitionsIndustrialNorth CarolinaSoutheast

HFF, JLL Negotiate $49.2M Sale of Industrial Park, Future Development Sites in Metro Charlotte

by Camren Skelton

CONCORD, N.C. — HFF and JLL have arranged the $49.2 million sale of RiverOaks Corporate Center, a two-building industrial park in Concord, roughly 25 miles northeast of Charlotte. Chris Norvell and Patrick Nally of HFF, in conjunction with JLL’s Pete Pittroff, brokered the transaction on behalf of the seller, Beacon Partners. Exeter Property Group acquired the property, which totals 453,206 square feet. The sale also included three land sites for future development. Completed in 2016, the existing buildings are located at 800 Derita Road and 8475 Automation Drive. The buildings feature 24- to 32-foot clear heights. The pre-graded development sites, located at 700 Derita and 8400 and 8500 Automation, would add nearly 900,000 square feet to RiverOaks Corporate Park, bringing the total square footage to approximately 1.4 million square feet. The park is located adjacent to Concord Regional Airport and 23 miles from Charlotte Douglas International Airport.

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GeorgiaLeasing ActivityOfficeSoutheast

Shorenstein Signs Three Office Tenants at Bank of America Plaza in Midtown Atlanta

by Camren Skelton

ATLANTA — Shorenstein Properties LLC has signed three tenants totaling 37,399 square feet to Bank of America Plaza in Atlanta’s Midtown district. The 55-story office tower, the tallest in the Southeast, recently underwent a $10 million renovation to the building’s west wing that delivered new workspaces and a food hall. Revel Systems, a San Francisco-based technology firm, signed a 25,547-square-foot, full-floor lease on the building’s 38th floor. The company will move into upgraded, loft-style offices that are part of the tower’s expanding spec suite program. The spec suites include open floor plans, creative lounge space and tech-enabled amenities. The next block of spec suite space, which totals approximately 15,000 square feet, is scheduled to come on line in the fall. Also as part of the spec suite program, Shorenstein signed Groundfloor, a real estate lending marketplace, to 7,746 square feet at the building. The landlord also signed Florence Healthcare, a company focused on improving clinical trial data flow to advance cures through software, to 4,106 square feet. Bank of America Plaza is home to tenants such as Anthem Inc., Display Data, Featurespace and Riskalyze. The tower is located adjacent to the North Avenue MARTA station and within five blocks of …

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