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1-N-Dale-Mabry-Tampa
AcquisitionsFloridaOfficeSoutheast

Joint Venture Purchases 13-Story Office Tower in Tampa’s Westshore Neighborhood

by Abby Cox

TAMPA, FLA. — A joint venture between Enverra Real Estate Partners and a New York City-based family office has acquired 1 North Dale Mabry, a 13-story, 260,000-square-foot office tower in the Westshore submarket of Tampa. The seller and sales price were not disclosed, but Business Observer Florida reports that Bridge Investment sold the property in a short-sale for $40 million, roughly five years after acquiring the property for $56.5 million. The office property offers floor-to-ceiling windows, a fitness center, conference facility and a renovated lobby. Additionally, 1 North Dale Mabry is home to various tenants such as Travelers Insurance, Marsh & McLennan Agency, Rissman Law Firm, Ideal Image and PCL Construction. Atlanta-based Enverra plans to invest $4 million to elevate the property with a coffee bar, landscaped outdoor terrace and upgrades to the current fitness center, conference facilities and other common areas.

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29-North
AcquisitionsMultifamilyNorth CarolinaSoutheast

LaRock Capital Partners Buys 101-Unit Apartment Community in Hickory, North Carolina

by Abby Cox

HICKORY, N.C. — Ashburn, Va.-based LaRock Capital Partners has acquired 29 North Apartments, a 101-unit community located in Hickory, about 58 miles north of Charlotte. Delivered in 2013, the complex offers one-, two- and three-bedroom floorplans, ranging in size from 715 to 1,308 square feet, according to Apartments.com. Amenities include a resort-style swimming pool, fitness center, clubhouse with coworking spaces and a pet park. LaRock Capital has selected Greensboro, N.C.-based Burkely Communities to serve as the new property manager at 29 North. William Lawson of BWE originated acquisition financing on behalf of LaRock Capital. The seller and sales price were not disclosed.

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AcquisitionsHospitalitySoutheastTennessee

Bradford Allen Acquires 193-Room TownePlace Suites Hotel in Nashville

by Abby Cox

NASHVILLE, TENN. — Bradford Allen has acquired TownePlace Suites Nashville Midtown, a 193-room hotel located near Vanderbilt University in Nashville’s Midtown neighborhood. Opened in 2021, the 10-story hotel features a fitness center, onsite parking, meeting space and a rooftop lounge with grilling stations. The hotel’s studio guest suites also offer full kitchens and oversized living, work and sleep areas. Additionally, a convenience store and the hotel’s 60-seat restaurant and bar are located adjacent to the fifth-floor sky lobby. The first floor also includes two retail spaces, which are leased to Subway and Takumi, a Japanese restaurant scheduled to open in first-quarter 2026. Ron Danko and James Maher of CBRE represented the seller, 3H Group, in the transaction. The sales price was not disclosed.

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West-Bay-Center-Publix
DevelopmentFloridaRetailSoutheast

St. Joe Co. to Develop Publix at Watersound West Bay Center in Panama City Beach, Florida

by Abby Cox

PANAMA CITY BEACH, FLA. — The St. Joe Co. will develop a new Publix grocery store at Watersound West Bay Center, a lifestyle shopping center under construction in Panama City Beach. The new Publix is expected to comprise 50,000 square feet and will feature a pharmacy, deli and bakery, as well as an adjacent Publix Liquors store. Plans will also include an additional 11,000 square feet of inline retail space. Upon completion, Watersound West Bay Center will serve the neighboring Latitude Margaritaville Watersound community, which will have a total of 3,500 homes in Phase I. The shopping center will total 500,000 square feet of retail, dining and commercial space in an open-air layout. St. Joe Co. is nearing completion on an 18,000-square-foot, standalone retail building within Watersound West Bay Center that will have spaces available for lease in early 2026.

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Arbys-Rep-Photo
AcquisitionsGeorgiaRetailSouth CarolinaSoutheast

SRS Real Estate Negotiates Sales of Two Retail Properties in Georgia, South Carolina Totaling $7.6M

by Abby Cox

CARROLLTON, GA. AND UNION, S.C. — SRS Real Estate Partners has negotiated the sales of two single-tenant retail properties in Georgia and South Carolina totaling $7.6 million. The properties include a property in Carrollton leased to Parachute Plasma and a drive-thru restaurant in Union occupied by Arby’s. Britt Raymond and Kyle Fant of SRS represented the 1031 exchange buyer, a New York City-based private investor, in the transaction. The seller was not disclosed. The first property, Parachute Plasma, sold for $5.5 million and totals 7,613 square feet of retail and medical office space. Built in 2024, Parachute Plasma operates on a new 20-year triple-net lease. The second property, a 2,364-square-foot Arby’s restaurant, was built in 2021 and was sold for roughly $2.1 million. Arby’s has approximately 16 years remaining on its absolute triple-net lease.

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DevelopmentGeorgiaMixed-UseMultifamilySoutheast

Crescent Communities to Develop 303-Unit Apartment Community at North DeKalb Mall Redevelopment Project

by John Nelson

DECATUR, GA. — Crescent Communities plans to begin construction this month on NOVEL Lulah Hills, a 303-unit apartment community in Decatur. The six-story community, which will feature nearly 40,000 square feet of retail space on the ground level, is a multifamily component within Lulah Hills, EDENS’ 78-acre mixed-use redevelopment of the former North DeKalb Mall. The apartment community will offer a mix of studio, one-, two- and three-bedroom apartments, as well as a pool with cabanas, a beer and game garden, outdoor dining spaces, flexible space for workshops and events, a craft closet, stocked dining pantry and a terrace with firepits and lounge seating. The overall Lulah Hills project, delivered over multiple phases in the coming years, will offer approximately 300,000 square feet of retail and restaurants, a Publix grocery store, 1,800 residential units and multiple green spaces. Crescent Communities plans to deliver NOVEL Lulah Hills in late 2027.

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IndustrialLeasing ActivityNorth CarolinaSoutheast

Mapletree Signs Lenovo to 520,583 SF Industrial Lease Near Greensboro, North Carolina

by John Nelson

WHITSETT, N.C. — Mapletree Investments has signed Lenovo to a 520,583-square-foot industrial lease in Whitsett, a city near Greensboro in North Carolina’s Piedmont Triad region. The global tech manufacturer will fully occupy 6550 Judge Adams Road, a facility within the 1,400-acre Rock Creek Center industrial park in Guilford County. The facility offers 509,393 square feet of warehouse space and an 11,190-square-foot office component. Lenovo will use the site to manufacture servers for data centers, while continuing operations at its nearby fulfillment center. Lenovo plans to invest $77 million into the project, which will create 420 new jobs. Greg Wilson of CBRE represented Mapletree, which owns the property under its Mapletree US Logistics Private Trust investment vehicle. Jason High and Dodson Schenck, also with CBRE, represented Lenovo in the lease negotiations.

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AlabamaLoansRetailSoutheast

CBRE Arranges $57M Refinancing for 422,337 SF Power Retail Center in Birmingham

by John Nelson

BIRMINGHAM, ALA. — CBRE has arranged a $57 million loan for the refinancing of Brook Highland Plaza, a 422,337-square-foot power retail center located on 52 acres along U.S. Highway 280 in Birmingham. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan through an undisclosed life insurance company on behalf of the borrower, First National Realty Partners. Brook Highland Plaza was 94.4 percent leased at the time of sale to tenants including Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Michaels, Shoe Station and Ashley Home Furniture.

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AcquisitionsFloridaRetailSoutheast

Benderson Acquires 216,692 SF Shopping Center in Metro Tampa Anchored by Whole Foods, Target

by John Nelson

CLEARWATER, FLA. — Benderson Development has purchased Clearwater Shoppes, a 216,692-square-foot shopping center located at 27001 U.S. Highway 19 N in Clearwater, a Tampa suburb in Pinellas County. Seritage Growth Properties, the retail REIT spun off from Sears Holdings, sold the shopping center to Benderson for an undisclosed price. Danny Finkle, Jorge Portela, Kim Flores and Evan Lahr of JLL represented the seller in the transaction. Situated on 14.5 acres adjacent to the 1.3 million-square-foot Countryside Mall, the shopping center’s tenant roster includes Whole Foods Market, Target and Nordstrom Rack.

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AcquisitionsFloridaSeniors HousingSoutheast

Berkadia Brokers Sale of 94-Unit Independent Living Community in Niceville, Florida

by John Nelson

NICEVILLE, FLA. — Berkadia has brokered the sale of American House Bluewater Bay, a 94-unit independent living community located in Niceville, roughly 10 miles northeast of Destin, Fla. Built in 2015, the community was more than 95 percent occupied at the time of sale. Michigan-based real estate development and investment company REDICO sold the property. American House, the senior living operator affiliate of REDICO, will continue to operate the community on behalf of the new ownership.

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