POWDER SPRINGS, GA. — CenterPoint Properties has acquired a 347,013-square-foot industrial property located at 4795 Innovative Way in Powder Springs, a western suburb of Atlanta. The newly built facility is situated three miles from a Norfolk Southern intermodal terminal and 14 miles from I-285 via I-20. The metro Chicago-based investor purchased the facility, which was delivered in third-quarter 2024 and fully leased to two tenants, for an undisclosed price. CBRE brokered the off-market transaction. The facility covers less than a quarter of the 36-acre site and features 36-foot clear heights, 68 dock-high doors, two drive-in doors and parking for 210 cars and 77 trailers. CenterPoint now owns 90 assets comprising more than 18.5 million square feet in its East Region markets of New York/New Jersey, Lehigh Valley, Charleston, Savannah, Atlanta and South Florida.
EASLEY, S.C. — RL Capital Associates has arranged a $28.5 million construction loan for Speedway Business & Technology Park, a 335,000-square-foot industrial park in Easley, a city west of Greenville in South Carolina’s Upstate region. The development is situated on a 600-acre site in Pickens County that formerly housed the Greenville-Pickens Speedway. First National Bank provided the loan on behalf of the borrower, RealtyLink. The locally based developer plans to initially invest $100 million in Phase I of Speedway Business & Technology Park, which will comprise 1 million square feet of industrial space.
PENSACOLA, FLA. — Berkadia has brokered the sale of West Woods Apartments, a 268-unit community located at 3202 W. Nine Mile Road in Pensacola, a city in Florida’s Panhandle near the Alabama border. David Etchison of Berkadia led the transaction on behalf of the seller, Benefit Street Partners. The undisclosed buyer assumed in-place HUD financing as part of the transaction. The sales price was also not released. West Woods was delivered in 2016 and 2017 on a 14-acre site and offers one-, two- and three-bedroom floor plans averaging 1,087 square feet in size. Amenities at the gated-community include a clubhouse, two 24-hour fitness facilities, two resort-style pools, two dog parks, a business center, playground, 24-hour pet spa, car care center, fire pit, ping pong table and detached garage rentals. West Woods was 96 percent occupied at the time of sale.
JONESBORO, ARK. — Marcus & Millichap has negotiated the $5.3 million sale of a 26,000-square-foot industrial facility located at 2800 Fair Park Blvd. in Jonesboro. Situated on a 6.4-acre site near I-55, the property was fully leased at the time of sale to SRS Distribution, a building materials supplier that was recently acquired by The Home Depot. The building was delivered in 2013, according to LoopNet Inc. Giancarlo Mata of Marcus & Milllichap’s Jacksonville office represented the seller and former tenant, Jonesboro Cycle and ATV, in the transaction. The buyer was not disclosed. Steve Greer served as Marcus & Millichap’s broker of record in Arkansas for the transaction.
SAVANNAH, GA. — McCraney Property Co. has obtained $84 million in senior financing for Phase I of Logistics 16 at Ottawa Farms, a 1 million-square-foot industrial development in Savannah. The three-building property is situated approximately 16 miles from the Port of Savannah. Melissa Rose, Michael DiCosimo and Nicole Barba of JLL arranged the financing package, which includes a three-year, floating-rate loan through Truist. McCraney delivered the three rear-load distribution buildings in 2024. The facilities, which were nearly 85 percent leased at the time of financing, feature 32- to 36-foot clear heights, dock doors and ESFR sprinklers. Logistics 16 at Ottawa Farms is expected to span 4.4 million square feet across nine buildings at full build-out.
PORT ST. LUCIE, FLA. — A joint venture between PEBB Enterprises and Banyan Development has sold The Shoppes at the Heart of Tradition, a 71,000-square-foot shopping center located within the master-planned community of Tradition in Port St. Lucie, for $32 million. One Investment Group represented the buyer, an entity doing business as 4Y Plaza LLC, in the transaction. The center — which was completed in 2024 — is anchored by Aldi. Additional tenants include Papa John’s Pizza, Carmela Coffee, Kyle G’s Amore Italian Chophouse, Spanish restaurant Port Tradition, Tomalty Dental, Peach Cobbler Factory, Picasso Nails & Spa, Rita’s Italian Ice & Frozen Custard and Swift Mediterranean Grill. Tradition, which opened in 2003, spans approximately 8,300 acres and features a variety of residential, retail and commercial spaces. PEBB Enterprises and Banyan Development are also developing Shoppes at Southern Grove within Tradition, which will include a 14.2-acre retail development with additional outparcels available for ground lease.
INDIAN TRAIL, N.C. — Berkadia has brokered the sale of Poplin Trace, a 99-unit build-to-rent community in Indian Trail, a city about 15 miles southeast of Charlotte. The sales price was not disclosed, but the Charlotte Business Journal reported the asset traded for $31 million. The seller was Arizona-based Belleview. The buyer was not disclosed. Caleb Troop, Matt Robertson, Mark Forrester and Andrew Curtis of Berkadia led the transaction on behalf of Belleview. Built in 2021, Poplin Trace offers three-bedroom townhomes with attached two-car garages. The property was 93 percent occupied at the time of sale.
BATESVILLE, MISS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.3 million loan for the refinancing of Progressive Health of Batesville, a rural emergency hospital located at 303 Medical Center Drive in Batesville, a city in northern Mississippi. The full-service hospital offers emergency medicine, surgery, women’s health, children’s health, intensive outpatient care, outpatient radiology, rehabilitation and wound care services. Steven Rock of MMCC’s Westchester, N.Y., office secured the financing with a national credit union service organization on behalf of the borrower, a national investment company that invests in credit tenant, double-net and triple-net lease properties. The five-year loan includes an 8.5 percent interest rate with a 30-year amortization period and a 75 percent loan-to-value ratio.
CHARLOTTE, N.C. — Florida-based SouthState Bank has signed a 40,000-square-foot office lease at 110 East, a 23-story office tower located at the intersection of East and South boulevards in Charlotte’s South End district. Chris Schaaf and Jim Thorpe of JLL represented SouthState in the lease transaction. Rhea Greene, Jennifer Kurz and John Hannon of Trinity Partners represented the landlord, a partnership between Stiles and Shorenstein Properties. Other committed tenants at the 370,000-square-foot office tower include Humana, Patterson Pope and Iberian Pig, a Spanish tapas dining concept by Castellucci Hospitality that will occupy a 4,600-square-foot restaurant on the ground level. SouthState Bank plans to take occupancy at 110 East in second-quarter 2026 and staff around 100 employees for its regional office hub. Hastings Architecture designed the office tower, which opened last year.
BEL AIR, MD. — SJC Ventures has unveiled plans for a $100 million transformation of the Harford Mall site located in Bel Air, roughly 23 miles north of Baltimore. The redevelopment is a partnership between the Atlanta-based mixed-use development firm and the mall owner, Chattanooga, Tenn.-based CBL Properties. Upon approval by the Bel Air Economic and Community Development Commission, the redevelopment project will feature 48,000 square feet of open-air retail, restaurants and amenities that will replace a former Macy’s store, as well as a 35,000-square-foot grocery store. If approved, the new development will complement SJC’s project on the mall’s former Sears parcel, as well as the multifamily development adjacent to the former Sears. SJC Ventures also plans to incorporate pedestrian walkways for enhanced connectivity, pocket parks and open gathering spaces at the Harford Mall site.