Tuesday, July 22, 2025
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DevelopmentGeorgiaLeasing ActivityRestaurantRetailSoutheast

Halpern Enterprises Delivers Retail Strip Center in McDonough, Georgia

by John Nelson

MCDONOUGH, GA. — Halpern Enterprises has completed a 6,486-square-foot, multi-tenant retail strip center located at 5905 E. Lake Parkway in McDonough, a southern suburb of Atlanta. The three-tenant property is part of the 20-acre North McDonough Village mixed-use development. The property features a 2,486-square-foot Starbucks Coffee with a drive-thru, a 2,000-square-foot available space and a 2,000-square-foot dentist’s office. Starbucks recently opened for business at the center on a 10-year lease. Brad Oppenheimer led the project on behalf of Halpern and secured the lease with Starbucks. Palmer Bayless of Emerge Real Estate Services represented Starbucks in the lease negotiations.

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AcquisitionsHealthcareNorth CarolinaSoutheastTop Stories

Duke Health Acquires Lake Norman Regional Medical Center in Metro Charlotte for $284M

by John Nelson

MOORESVILLE, N.C. — Duke University Health System (Duke Health), a Durham, N.C.-based healthcare affiliate of Duke University, has acquired Lake Norman Regional Medical Center, an acute-care hospital in the Charlotte suburb of Mooresville, for $284 million. Formerly owned by subsidiaries of Tennessee-based Community Health Systems Inc., the 123-bed facility will now operate as Duke Health Lake Norman Hospital. “We have a bright future ahead and look forward to bringing the excellence and innovation of Duke Health to enhance the care offered at Duke Health Lake Norman Hospital and clinics,” says Craig Albanese, CEO of Duke Health. Duke Health Lake Norman Hospital offers 24-hour emergency care, labor and delivery services, cardiology, surgical and orthopedic care and an outpatient imaging center. The hospital has been operating since 1926 when it opened as Lowrance Hospital. The property comprises a main 171,000-square-foot hospital building and a separate 6,200-square-foot outpatient facility. Over the next several months, the hospital’s electronic medical records will be integrated into Duke Health’s system for patients to receive full access to the provider’s specialty care. Employees and providers at the hospital were also offered jobs with Duke Health to “enable a seamless transition for patients to have continued access to the providers, …

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AcquisitionsGeorgiaOfficeSoutheast

Atlanta Braves Holdings Acquires 763,465 SF Pennant Park Office Complex Adjacent to Truist Park

by John Nelson

ATLANTA — Atlanta Braves Holdings Inc., owner and operator of the Atlanta Braves MLB team, The Battery Atlanta mixed-use development and Truist Park in Cobb County, has purchased an adjacent 763,465-square-foot office complex. The property, called Pennant Park, is situated on approximately 34 acres and comprises six office buildings and more than 2,700 parking spaces. The seller, Rubenstein Partners, has owned Pennant Park since 2017, the year that the Braves began playing at nearby Truist Park (formerly SunTrust Park). The sales price was not disclosed. The campus was more than 80 percent leased at the time of sale to 24 tenants, including The Home Depot, Juneau Construction Co. and TK Elevator. The acquisition expands the Atlanta Braves Holdings’ real estate portfolio by 30 percent. Pennant Park comprises two components: Pennant Commons (four buildings and a communal plaza known as The Quad) and Pennant View (two buildings). Amenities at the office park include 24-hour security, onsite engineering, a 48-person conference center, two fitness centers, onsite car detailing services, two cafés, Social Kitchen tenant lounge and cafe, a bocce ball court, putting green, multi-sport game court, helipad, lake with jogging trail and a Cobb Community Transit System bus stop.

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AcquisitionsFloridaRetailSoutheast

Gazit Horizons Buys Galt Ocean Marketplace Shopping Center in Fort Lauderdale for $35.4M

by John Nelson

FORT LAUDERDALE, FLA. — Miami-based Gazit Horizons Inc. has purchased Galt Ocean Marketplace, a 105,589-square-foot shopping center situated on a linear 8.6-acre site along A1A in Fort Lauderdale. The seller, an affiliate of a joint venture between Evergreen Investment Advisors and Kitson & Partners, sold the grocery-anchored property for $35.4 million. Casey Rosen, Dennis Carson, Sriram Rajan and Michael Etemad of CBRE represented the seller in the transaction. Galt Ocean Marketplace was 96 percent leased at the time of sale to tenants including Winn-Dixie, CVS, Holy Cross Hospital, McDonald’s, Flagstar Bank and Sherwin-Williams, among others.

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GeorgiaIndustrialLeasing ActivitySoutheast

Lee & Associates Arranges 88,300 SF Industrial Lease in Douglasville, Georgia

by John Nelson

DOUGLASVILLE, GA. — Lee & Associates has arranged an 88,300-square-foot industrial lease at 9850 Commerce Way in Douglasville, roughly 22 miles west of Atlanta. Joseph Mullican and Lee Steed of Lee & Associates’ Atlanta office represented the tenant, Peco Fasteners, a distributor of industrial fasteners and electrical products, in the lease negotiations. The landlord was Ridgeland, Miss.-based EastGroup Properties and the deal totaled $10.7 million, according to Lee & Associates.

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FloridaLeasing ActivityOfficeSoutheast

CP Group Signs General Dynamics to 50,368 SF Office Lease Renewal in Orlando

by John Nelson

ORLANDO, FLA. — CP Group has signed General Dynamics Corp., a publicly traded aerospace and defense corporation, to a 50,368-square-foot office lease renewal in Orlando. The Reston, Va.-based tenant will continue to occupy Resource Square III, an office building located within Central Florida Research Park. Diane Drobia and Chris Sproles of CBRE represented the tenant in the lease negotiations. Madison Kimbell of JLL represented CP Group. In addition to General Dynamics, other recent leases at Resource Square III include American Electronic Warfare Associates Inc. signing a 10,420-square-foot lease and Florida Office Group renewing its 4,249-square-foot lease. Central Florida Research Park is situated adjacent to the University of Central Florida (UCF). CP Group has owned Resource Square I and III within the park since January 2020.

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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers Sale of Retail Property in Leesburg, Florida Leased to Heartland Dental

by John Nelson

LEESBURG, FLA. — Don McMinn and Andrew Koriwchak of Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta have brokered the sale of a single-tenant retail property located at 27417 US Highway 27 in Leesburg, about 45 miles northwest of Orlando. Built on 1.1 acres in 2002, the property was leased to Heartland Dental, which operates the 4,296-square-foot building as South Leesburg Dental Care. The dental practice recently opened at the property, which is an outparcel to a Winn-Dixie grocery store. Heartland Dental has a 10-year corporate lease at the property with rent increases and extension options. McMinn and Koriwchak represented the seller, a Florida-based developer, in the transaction. The locally based buyer purchased the property for an undisclosed amount in an all-cash transaction. “Investor demand for single-tenant medical properties remains strong, driven by the stability of the healthcare sector and quality of the locations,” says McMinn. “We are currently marketing additional Heartland Dental properties in Cape Coral, Fla., and McDonough, Ga.”

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Affordable HousingDevelopmentFloridaMixed-UseMultifamilySoutheastTop Stories

Miami-Dade County Commission Approves $3B Little River District Mixed-Use Development 

by Kristin Harlow

MIAMI — The Miami-Dade County Commission has granted final approval for Little River District, a $3 billion mixed-use development in Miami’s Little River and Little Haiti neighborhoods. SG Holdings, a joint venture between Swerdlow Group, SJM Partners and Alben Duffie, is the developer. Spanning 63 acres, the project is slated to include more than 5,700 affordable and workforce housing units alongside big box retail stores, small businesses, a major grocery operator, green public space and transit infrastructure with the addition of a new train station. Construction is expected to begin in 2026, with a projected development timeline of eight years. Little River District is considered the largest affordable housing development in Miami-Dade County’s history, according to a news release. Plans call for 2,284 affordable housing units for residents earning up to 60 percent of the area median income (AMI), 1,398 workforce rental units for those making 120 percent of AMI and 2,048 potential workforce condo units, which would allow the buyers to obtain significant subsidies to meet the purchase price at up to 140 percent AMI. Current residents of existing public housing complexes situated within the development site are guaranteed the right to return to new units at Little River …

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DevelopmentIndustrialSoutheastVirginia

LS GreenLink Closes on Land Acquisition in Chesapeake, Virginia for New $681M Power Cable Manufacturing Facility

by John Nelson

CHESAPEAKE, VA. — LS GreenLink USA Inc., a subsidiary of LS Cable & System Ltd., has closed on the purchase of 96.6 acres in the Hampton Roads city of Chesapeake. Situated along the Elizabeth River near the Port of Virginia, the site will house a new submarine power cable manufacturing facility spanning 750,000 square feet and a 660-foot VCV (vertical continuous vulcanization) tower that is expected to be the tallest structure in the state upon completion. LS GreenLink plans for the new facility to involve more than $681 million in investment and to be fully operational by early 2028. The company will manufacture insulated power cables at the facility that will be used to connect offshore wind farms, such as the Coastal Virginia Offshore Wind (CVOW) project underway off the coast of nearby Virginia Beach. Construction on the new manufacturing facility, which was announced last year, will take place this month. LS GreenLink plans to use roughly half of the newly acquired site for the manufacturing facility and VCV tower, reserving the remaining land for future phases of development. Woods Rogers Vandeventer Black PLC and JLL represented the seller, International Bio-Energy Virginia Real Estate LLC, in the land sale. K&L …

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FloridaLeasing ActivityOfficeSoutheast

Foot Locker Moves Corporate Headquarters to St. Petersburg, Florida

by John Nelson

ST. PETERSBURG, FLA. — Footwear and apparel retail giant Foot Locker Inc. has officially moved its corporate headquarters from New York City to the Tampa Bay city of St. Petersburg. The Feil Organization has signed the retailer to a 110,998-square-foot office lease at 570 Carillon Parkway, a Class A office building within Carillon Business Park. Feil recently renovated the office building’s lobby and common areas. Amenities at the five-story, 250,000-square-foot office building include a café and a fitness center. Lee Winter and Caleb Lewis of JLL represented Foot Locker in the lease negotiations. Barry Hanerfeld and Molly Molloy Catlett of CBRE represented Feil alongside in-house representative Andrew Wiener.

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