Wednesday, July 9, 2025
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DevelopmentIndustrialMarylandSoutheast

Knott Realty Group Underway on Two Baltimore Industrial Buildings Totaling 276,000 SF

by John Nelson

BALTIMORE — Knott Realty Group is underway on the development of two industrial buildings totaling 276,000 square feet at 9107 and 9114 Yellow Brick Road in Baltimore. Scheduled for completion in the second quarter of 2025, the properties will comprise 150,492 and 125,791 square feet, respectively, and feature 32-foot ceiling heights, ESFR sprinklers, high-bay LED lighting and a seven-inch concrete slab. 9107 Yellow Brick Road will offer 46 dock doors, two drive-in doors and 226 parking spaces, with 9114 Yellow Brick Road offering 38 dock doors, two drive-in doors and 160 parking spaces. An additional lot will provide the capacity for up to 29 trailer drops. Together, the buildings mark the final phase of Knott’s Yellow Brick Road business community, which will total more than 1 million square feet within nine buildings. The company is managing all marketing and leasing for the properties on an in-house basis.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers $4.5M Sale of CVS-Leased Retail Property in Lakeland, Florida

by John Nelson

LAKELAND, FLA. — Marcus & Millichap has brokered the $4.5 million sale of a single-tenant retail property located at 5010 Florida Ave. S in Lakeland. CVS/pharmacy occupies the building, which comprises 12,738 square feet. Ronnie Issenberg and Ricardo Esteves of Marcus & Millichap represented the buyer, a Florida-based private investor, in the transaction. The seller was not disclosed.

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FloridaLoansMultifamilySeniors HousingSoutheast

Aztec Group Arranges $55.6M Financing for Active Adult Community in Palm Beach Gardens, Florida

by John Nelson

PALM BEACH GARDENS, FLA. — Aztec Group has arranged $55.6 million in bridge financing for Arcadia Gardens, an active adult community located in Palm Beach Gardens. MetLife provided the loan to the borrowers, affiliates of the United Group of Cos. and Sina Cos. United Group also manages the property, which was developed in 2021. Situated on 10.6 acres, the age-restricted apartment community comprises 220 units reserved for residents age 55 and older. Amenities at Arcadia Gardens include a fitness center, salon, movie theater, swimming pool, spa, community garden, walking trail, onsite dining facilities and pickleball, bocce and croquet courts.

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DevelopmentLoansRetailSouth CarolinaSoutheast

CBRE Secures $30.9M Construction Loan for Publix-Anchored Shopping Center in Metro Charleston

by John Nelson

GOOSE CREEK, S.C. — CBRE has secured a $30.9 million loan for the construction of The Marketplace at Carnes Crossroads, a Publix-anchored shopping center underway in Goose Creek, roughly 15 miles outside Charleston. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE arranged the financing on behalf of the borrower, Columbia Properties, through a regional bank. Worthen Development is a partner in the project. Upon completion, the center will comprise 82,622 square feet across three buildings and nine land parcels situated on 24.5 acres. Site work for the development has begun, with vertical construction scheduled to begin soon.

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DevelopmentIndustrialNorth CarolinaSoutheast

Lovett Industrial Breaks Ground on 282,000 SF Orr Road Business Center in Charlotte

by John Nelson

CHARLOTTE, N.C. — Houston-based Lovett Industrial has broken ground on Orr Road Business Center, a 282,000-square-foot industrial business park in Charlotte. The property will feature two multi-tenant rear-load buildings on 21.7 acres, designed for occupancies ranging from 30,000 to 156,000 square feet. The buildings will comprise 156,000 and 126,000 square feet, respectively, featuring 32-foot clear heights, 6-inch reinforced concrete slabs, 180-foot truck courts, 60 total loading doors and two drive-in doors each. Henry Lobb and Abby Rights of Avison Young will manage leasing at the property, with Chris Skibinski of Avison Young providing capital markets strategic advisory services. A construction timeline was not disclosed.

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AcquisitionsGeorgiaIndustrialSoutheast

JLL Brokers Sale of 264,339 SF Regency Center Industrial Park in Atlanta

by John Nelson

ATLANTA — JLL Capital Markets has brokered the sale of Regency Center, a 264,339-square-foot industrial park located along Jimmy Carter Boulevard in Atlanta. Situated on 20.4 acres, the property comprises eight buildings and features 36 suites, rear-load configurations, 16- to 20-foot clear heights, 67 dock-high doors and 12 grade-level doors. Richland Capital Holdings acquired the property for an undisclosed price. Matt Wirth, Jim Freeman, Dennis Mitchell and Britton Burdette of JLL represented the undisclosed seller in the transaction.

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Leasing ActivityRetailSouth CarolinaSoutheast

Four Retailers Sign Leases at Freshfields Village in Metro Charleston

by John Nelson

KIAWAH ISLAND, S.C. — Four new retailers have signed leases at Freshfields Village, an open-air shopping center located in Kiawah Island, approximately 30 miles southeast of Charleston. Charleston Shoe Co., Hanebrink Jewelers and Longevity Pilates have joined the lineup, and Showroom has reopened within a larger space at the center. Edens is the owner and landlord of Freshfields Village.

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AlabamaDevelopmentIndustrialOfficeSoutheastTop Stories

Coca-Cola United to Develop $330M Office, Warehouse Facility in Birmingham, Alabama

by Jeff Shaw

BIRMINGHAM, ALA. — Coca-Cola Bottling Co. United Inc. has announced plans to invest $330 million in the construction of a new office and warehouse facility located in the Kingston neighborhood of Birmingham. Coca-Cola United is a Birmingham-based bottler of Coca-Cola products, and the Coca-Cola Co. does not own any part of the company. Plans for the development include a 150,000-square-foot office complex and a 300,000-square-foot warehouse. The warehouse will feature a Vertique case picking system, which is designed to increase the efficiency of packing cases for order fulfillment. The facility will serve as the Birmingham Coca-Cola sales center, as well as Coca-Cola United’s corporate, Central region and North Alabama division headquarters. The property will also house the company’s Classic Food and Vending arm, customer solutions center and services department. A development timeline was not disclosed. Coca-Cola United purchased the development site in 2013. The land previously housed the Stockham Valves and Fittings plant, which closed in 1998. According to Alabama Gov. Kay Ivey, the project will create up to 50 new jobs and retain over 750 positions. “For over 120 years, Coca-Cola United has been a stand-out member of Birmingham’s business community,” says Ivey. “Coca-Cola United’s landmark growth project will create new …

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Affordable HousingFeaturesSoutheast

Prevailing by Planning: Looking Ahead Is Crucial to Affordable Housing Success

by Hayden Spiess

There are a common set of headwinds — such as high construction costs and interest rates — facing the commercial real estate industry at large. But affordable housing development and operations also come with a unique set of challenges all their own. Despite this, panelists at the InterFace Affordable Housing Southeast conference, held May 9 at the Cobb Galleria Centre in Atlanta, expressed an optimistic outlook for the sector.  Closing out the day’s events, speakers on the “Southeast Regional Housing Authorities & Legal Update” panel shared strategies for surviving within the current affordable housing landscape and highlighted the importance of planning ahead to succeed in the sector.  The devil’s in the details Most crucial to navigating the sometimes tumultuous waters of affordable housing is engaging in thorough — even painstaking — preparation, concurred each of the panelists. This is especially true given the current macroeconomic climate and its difficulties.  When asked how her organization confronts these challenges, Yvonda Bean, chief executive officer with Columbia Housing, identified an emphasis on facilitating communication within the project team for planning purposes.  More specifically, Bean reported that Columbia Housing connects the “general contractor with the architect to work on design plans” early on, such that when …

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Affordable HousingDevelopmentFloridaMultifamilySoutheast

Related Urban, Tampa Housing Authority Break Ground on 234-Unit Mixed-Income Housing Project

by John Nelson

TAMPA, FLA. — A public-private partnership between Related Urban Development Group, the Tampa Housing Authority and the City of Tampa has broken ground on Gallery at Rome Yards, an 11-story mixed-income housing project located south of Columbus Drive between Rome Avenue and the Hillsborough River. Eighty percent of the property’s 234 units will be reserved as affordable and workforce housing while the remaining 20 percent will be market-rate apartment homes. Additionally, five apartments on the ground level will be designated as live/work units designed with local artists and entrepreneurs in mind, complete with a storefronts and working areas. Amenities will include a fitness center, walking path with distance markers, workspace for students and remote workers, communal club room, dog park with a nearby dog wash area, ground-floor retail space and a workforce training/small business success center. Related Urban expects to complete Gallery at Rome Yards in December 2026. The property represents Phase I of the Rome Yards master plan, which is the redevelopment of a vacant 18-acre maintenance yard into nearly 1,000 apartments and 33,604 square feet of commercial space.

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