Wednesday, July 9, 2025
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Southeast

DevelopmentDistrict of ColumbiaOfficeSoutheast

Rockefeller Group, Stonebridge Underway on $375M Office Building in D.C.

by John Nelson

WASHINGTON, D.C. — A joint venture between Rockefeller Group and Stonebridge is underway on the development of 600 Fifth Street Northwest, a $375 million office building project in Washington, D.C. Upon completion, the building, which is situated at the site of the former Washington Metropolitan Transit Authority (Metro) headquarters, will total 400,000 square feet. The property will feature 15-foot ceilings, open-air terraces on every other floor, an energy-efficient glass curtain wall and a ground-level public park. Law firm Crowell & Moring will occupy 199,000 square feet as an anchor tenant of the building, which was 50 percent preleased at the time of topping out, May 20. Stonebridge and Rockefeller signed a 99-year ground lease with Metro in June 2023, breaking ground the same month. A timeline for completion was not disclosed. Clark Construction is serving as the general contractor on the project, which was designed by Pickard Chilton. Kendall Heaton Associates is the architect of record, and Scott Frankel, Carroll Cavanagh, Dimitri Hajimihalis, Emily Eppolito and D.J. Callahan of CBRE manage leasing at the property.

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DevelopmentFloridaOfficeSoutheast

Bromley, Highwoods Properties Top Out 18-Story Midtown East Office Tower in Tampa

by John Nelson

TAMPA, FLA. — Joint venture partners The Bromley Cos. and Highwoods Properties have topped out Midtown East, an 18-story office tower situated within Bromley’s 23-acre Midtown Tampa mixed-use development in Tampa. Upon completion, the property will comprise 430,000 square feet of office and ground-floor retail space. Bromley and Highwoods will jointly own 143,000 square feet, and Tampa Electric and Peoples Gas will own and occupy the remainder of the building. Architecture firm Rule Joy Trammell + Rubio designed Midtown East, which will feature a heat-reflective roof, covered outdoor terraces, floor-to-ceiling glass, high-speed elevators and adaptable floorplans. Completion of the project is scheduled for 2025. Midtown East will serve as the anchor building of the $1 billion Midtown Tampa development, which also comprises residential, hospitality and retail space, as well as the Midtown Commons public space, a dog park, recreational trail and a lake.

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AcquisitionsIndustrialSoutheastTennessee

Brennan, RGA ReCap Acquire Two Distribution Facilities in Nashville Totaling 221,000 SF

by John Nelson

NASHVILLE, TENN. — Brennan Investment Group, in a joint venture with RGA ReCap Inc., has acquired two distribution facilities totaling 221,000 square feet at 5006 Harding Place in Nashville. The two buildings were fully leased to seven tenants at the time of sale. The seller and sales price were not disclosed. Associated Bank provided a $20 million acquisition loan to Brennan for the deal, which marks the investor’s fifth investment in the Nashville market since 2019, according to the company. Andrew Roberts of Associated Bank managed the loan closing on an internal basis.

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AcquisitionsFloridaIndustrialSoutheast

JLL Brokers $36.5M Sale of Silver Star Commerce Center Industrial Park in Orlando

by John Nelson

ORLANDO, FLA. — JLL has brokered the $36.5 million sale of Silver Star Commerce Center, a 254,915-square-foot industrial park located at 3600-3802 Silver Star Road and 3717-3763 Mercy Star Court in Orlando. The property comprises eight buildings situated on 20 acres and features 18- to 20-foot clear heights and rear-load capabilities. At the time of sale, the park was 92 percent leased to 27 tenants. Denholtz Properties and Long Wharf Capital acquired the property. Luis Castillo, Cody Brais and Taylor Osborne of JLL represented the undisclosed seller in the transaction.

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Affordable HousingDevelopmentFloridaLoansMultifamilySoutheast

BWE Secures $24M Financing for Affordable Housing Development in Orlando

by John Nelson

ORLANDO, FLA. — BWE has secured $24 million for the construction and permanent financing of Barnett Villas, an affordable housing development in Orlando. Peter Borstelmann and Jim Gillespie of BWE arranged the financing in the form of the purchase of tax-exempt bonds issued by the Florida Housing Finance Corp. (FHFC). The bonds feature a fixed interest rate, as well as three years of interest-only payments. Upon completion, Barnett Villas — which will be located at 1050 Barnett Villas Drive — will comprise 156 units in one-, two- and three-bedroom layouts. Of the units, 78 will be reserved for residents earning up to 60 percent of the area median income (AMI), 39 will be designated for residents earning up to 50 percent of AMI and 39 will be reserved for residents earning up to 70 percent of the AMI. Amenities at the property will include a fitness center, lounge and surface parking. The total project cost is $44.9 million, including $18.2 million in Low-Income Housing Tax Credit (LIHTC) equity syndicated by Enterprise Housing Credit Investments. A construction timeline was not disclosed.

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FloridaIndustrialLeasing ActivitySoutheast

CBRE Secures 1 MSF Industrial Lease in Fort Pierce, Florida

by John Nelson

FORT PIERCE, FLA. — CBRE has secured a 1 million-square-foot lease on behalf of landlord SL Industrial Partners at 5001 Crossroads Parkway in Fort Pierce, a city in South Florida’s St. Lucie County. The tenant, Atlanta-based BroadRange Logistics, a third-party logistics warehousing and service provider, will occupy the space later this year. Robert Smith, Kirk Nelson, Jeff Kelly, David Murphy and Monica Wonus of CBRE represented SL Industrial Partners, a member of The Silverman Group family of companies, in the lease negotiations. This lease marks BroadRange’s third warehouse in Florida, adding to locations in Orlando and Ocala, as well as the largest industrial lease in Florida year-to-date, according to CBRE. Dubbed Interstate Crossroads Logistics Center, the newly delivered warehouse features 40-foot clear heights, LED lighting, ESFR sprinklers, 232 dock-high doors, four drive-in doors, 472 parking spaces and 412 trailer spaces. The property sits on a 132-acre site between I-95 and the Florida Turnpike.

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AcquisitionsMultifamilySoutheastTennessee

Matthews Negotiates $31M Sale of Victory Place Townhomes in Clarksville, Tennessee

by John Nelson

CLARKSVILLE, TENN. — Matthews Real Estate Investment Services has negotiated the $31 million sale of Victory Place Townhomes, a 194-unit multifamily community located at 401 Victory Road in Clarksville, about 54 miles northwest of Nashville. New York-based private equity firm BridgeGaps purchased the asset in a 1031 exchange with the seller, Singletary Construction, which developed the property in 2021. Austin Tomaiko and Austin Graham of Matthews represented the seller in the transaction, which Matthews says was the biggest sale in Clarksville by both unit count and sales price in the past 12 months. Victory Place Townhomes features a pool, fitness center, leasing office and dog parks, as well as one-, two- and three-bedroom floor plans.

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AcquisitionsFloridaLoansSoutheastStudent Housing

TSB Capital Secures Acquisition Financing for 764-Bed Student Housing Community Near University of Central Florida

by John Nelson

ORLANDO, FLA. — TSB Capital Advisors has secured acquisition financing for Nine at Central, a 764-bed student housing community located near the University of Central Florida campus in Orlando. QuadReal provided an undisclosed amount of financing to the borrower, L3 Campus. Delivered in 2023, Nine at Central offers a mix of one-, two-, four-, five- and six-bedroom units with bed-to-bath parity. Each unit features a 55-inch smart TV, private balcony, energy-efficient stainless steel appliances and Bluetooth-integrated washers and dryers. Shared amenities include a swimming pool, hammock garden, outdoor barbecues, a wet bar, poolside cabanas, game-day jumbotron, putting green, fitness center, yoga studio, study pods on each floor and a full arcade room.

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AcquisitionsGeorgiaRestaurantRetailSoutheast

SRS Brokers $3M Sale of Restaurant in Woodstock, Georgia Leased to Raising Cane’s

by John Nelson

WOODSTOCK, GA. — SRS Real Estate Partners has brokered the $3 million ground lease sale of a newly built restaurant property located at 9893 Highway 92 in Woodstock, about 30 miles northwest of Atlanta. Raising Cane’s occupies the property on a 15-year, corporate guaranteed lease. Michael Berk, Patrick Nutt and William Wamble of SRS represented the seller, Brentwood, Tenn.-based Warren Commercial Real Estate, in the transaction. The buyer was a private investor based in California.

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LoansNorth CarolinaRetailSoutheast

Gantry Arranges $2.1M Refinancing for Shoppes at Toringdon in Charlotte

by John Nelson

CHARLOTTE, N.C. — Gantry has arranged a $2.1 million permanent loan for the refinancing of Shoppes at Toringdon, an inline retail building located at 12194 Johnston Road in Charlotte. Situated on 1.6 acres within the larger Toringdon Circle retail community, the 8,000-square-foot property was leased to three tenants at the time of financing, including a specialty bicycle shop, eye doctor and a cell phone storefront for a major wireless carrier. Tim Storey, Casey Kupferberg and Chad Metzger of Gantry’s Phoenix office arranged the loan through one of the firm’s correspondent life insurance companies. The five-year, fixed-rate loan features a 30-year amortization schedule.

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