ORLANDO, FLA. — Colliers has negotiated the sale of Narcoossee Cove, a newly built complex comprising six single- and multi-tenant retail outparcels in Orlando. Michael Brewster and Tommy Isola of Colliers’ Orlando office represented the seller and developer, WMG Development, in the transactions. Five separate buyers purchased the various components of the 7.7-acre property for a total of $31 million. The transactions include Miller’s Ale House, Fifth Third Bank, Discount Tire, Raising Cane’s and two multi-tenant retail strip centers. Additionally, a roughly one-acre parcel of land located between Miller’s Ale House and Discount Tire was sold. Alexie Fonseca, David Gabbai and Jeff Johnson of Colliers secured tenants for the property prior to the sale, including Crumbl Cookies, The Joint Chiropractic, Wild Fork Foods and Blaze Pizza.
NORTH MYRLE BEACH, S.C. — NAI Columbia has brokered the $5.3 million sale of a vacant restaurant located at 4530 Highway 17 S in North Myrtle Beach. Preston’s Seafood & Country Buffet previously occupied the property for 35 years. The undisclosed buyer plans to redevelop the restaurant. Jack Springs of NAI Columbia brokered the deal. The seller and plans for the redevelopment were not disclosed.
CALHOUN, GA. — Halpern Enterprises has signed Ulta Beauty to an 8,514-square-foot lease at Indian Hills, a 128,730-square-foot shopping center located at 429 Highway 53 E in Calhoun, about 65 miles northwest of Atlanta. Shelley Jordan Bell of Atlantic Realty represented Ulta Beauty in the lease transaction. Dan Gagne of Halpern represented the landlord internally. The Atlanta-based landlord also recently executed a 23,000-square-foot lease with Marshalls to anchor the center. Situated within a half-mile of I-75, Indian Hills was 98 percent leased to tenants including Tractor Supply Co., Ross Dress for Less, Five Below, Mattress Firm, Hibbett Sports, GNC, PT Solutions, Cato and The UPS Store. The shopping center also features separately owned parcels occupied by Taco Bell, Chick-fil-A and Captain D’s.
CHARLOTTE, N.C. — Riverside Investment & Development and Woodfield Development have topped out a 42-story apartment tower in Charlotte. Goettsch Partners served as the architect and Clark Construction Group served as the general contractor for the 409-unit property, which is the multifamily component of the Queensbridge Collective mixed-use development. The development also includes a 35-story office tower, nearly 30,000 square feet of retail space and more than 90,000 square feet of indoor/outdoor amenity space, including more than two acres of indoor and outdoor fitness, recreation and entertainment spaces. Charlotte-based Night Swim Coffee is scheduled to open later this year on the ground floor of the apartment tower, and Denver-based steakhouse Guard and Grace will debut its 10,224-square-foot venue on the 10th floor in mid-2026. Riverside and Woodfield broke ground on Queensbridge Collective in May 2023 and plan to fully deliver the project in 2027.
BROOKHAVEN, GA. — High Street Residential, a subsidiary of Trammell Crow Co., has broken ground on Residences at Perimeter Summit, a 350-unit apartment community located at 1251 Perimeter Summit Parkway in Brookhaven. Situated approximately nine miles from Midtown Atlanta, the seven-story apartment community will serve as a pillar of Perimeter Summit, a 1.7 million-square-foot mixed-use campus that also includes offices, shops, restaurants, a 182-room hotel and condominiums. Spear Street Capital is heading the office development at Perimeter Summit and recently partnered with STHRN Hospitality to add two new restaurants set to open this year: The Little Gem and Pizza Stop. Residences at Perimeter Summit will include a mix of studio, one-, two- and three-bedroom apartments with an average unit size of more than 900 square feet. Community amenities will include a resort-style pool, three courtyards, 1,200-square-foot speakeasy lounge, fitness center, clubroom, coworking center, private conference and study rooms, tasting room, pet spa, golf simulator, wellness sauna and access to walking trails and two MARTA stations. The design-build team includes architect Cooper Carry and general contractor New South Construction. The construction timeline was not disclosed.
BOWLING GREEN, KY. — Pearlmark has provided a mezzanine loan for the acquisition of Midtown at WKU, a 534-bed student housing community located adjacent to Western Kentucky University in Bowling Green. Eagle Realty Group provided the senior loan on behalf of the borrower, ABCampus. Greg Young of Colliers Mortgage arranged the financing. Located on Center Street, Midtown at WKU features 189 units with bed-to-bath parity, as well as an amenity package that includes a fitness center, rooftop pool, study center, 24-hour maintenance staff, courtyard, clubhouse and private study rooms.
BUFORD, GA. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built restaurant located at 4996 Lanier Islands Parkway in Buford, a northeast suburb of Atlanta. Quick-service restaurant chain Arby’s has a 15-year ground lease at the restaurant, which was delivered last year at the entrance of a 1.1 million-square-foot Amazon fulfillment center. The Arby’s restaurant sits on 1.6 acres and totals 2,577 square feet in size. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group represented the seller, a developer based in Florida, in the transaction. The buyer was a 1031 exchange investor based in California. The names of the buyer and seller were not released, along with the sales price. “This was part of a multi-parcel development we are marketing in Buford,” says McMinn. “We first sold a Whataburger and now the Arby’s, and in both cases we were able to leverage our national platform and local reach to generate strong interest and multiple cash offers.”
RESTON, VA. — Comstock Holding Cos. Inc. has signed FM Global, an international commercial property insurance and loss prevention firm, to a 32,000-square-foot office lease in Northern Virginia. The tenant will occupy space at 1906 Reston Metro Plaza, an office building within the 90-acre Reston Station mixed-use development. FM Global is joining other Reston Station tenants including Google, ICF International and Spotify. Last month, Comstock signed CARFAX to lease 87,000 square feet at 1906 Reston Metro Plaza, which will serve as the automobile history reporting platform’s corporate headquarters.
WASHINGTON, D.C. — The Mortgage Bankers Association (MBA) is forecasting that total commercial and multifamily mortgage borrowing and lending will rise to $583 billion in 2025, which is a 16 percent increase from 2024’s estimated total of $503 billion. The Washington, D.C.-based organization made the announcement at its 2025 Commercial/Multifamily Finance Convention and Expo (CREF) event taking place in San Diego. Multifamily lending, which is calculated into the total figure, is expected to rise to $361 billion in 2025 — also a 16 percent increase from last year’s estimate of $312 billion. MBA anticipates originations in 2026 will increase to $709 billion in total commercial real estate lending, with $419 billion of that allocated to multifamily lending. “Given the strong pickup in origination activity at the end of 2024, it appears that at least some borrowers and lenders are ready to move,” said Mike Fratantoni, MBA’s senior vice president and chief economist. “MBA is forecasting that interest rates are going to stay within a trading range for the next few years. We expect an increase in originations across property types and capital sources, but certainly recognize the additional challenges posed by the large number of loans scheduled to mature in …
NASHVILLE, TENN. — A joint venture between Property Markets Group (PMG), New Valley Realty and RMWC has completed vertical construction on Society Nashville, a 16-story apartment tower project located in the city’s Gulch neighborhood. Upon completion, the development will offer 502 residential units. Units will include a blend of traditional apartments in studio, one-, two- and three-bedroom layouts, as well as a small number of co-living “rent-by-bedroom” options. Designed by Baker Barrios Architects, Society Nashville will also feature 8,400 square feet of retail space and 485 parking spaces. Amenities at the building will include a pool deck, fitness center, coworking spaces, music room and rooftop sky deck. In 2022, the developers received a $162 million construction loan from Square Mile Capital for the project. CrowdStreet also provided $35 million in equity.