A lot has been written about Acadia’s ambitious project: buying up as many as a dozen Henderson Avenue properties to develop one large mixed-use project. Acadia spent $85.4 million in 2022 on individual parcels along the corridor. Acadia has partnered with Dallas-based…
Fresh-food distributor, Foster, has purchased a distribution warehouse in Winston-Salem. Food company Purple Crow sold the 157,878 square foot building at 2900 Lowery St. for $23.5 million. Purple Crow is a distributor of Hispanic foods that announced new headquarters last year at Whitaker…
Barings provided a $134 million loan to refinance the existing loan on Smoky Hollow in Raleigh. The mixed-use development was delivered in 2020 by a joint venture between Kane Realty Corporation, Williams Realty & Building Company, and Lionstone Investments. Smoky…
MacKenzie Commercial Real Estate Services, LLC has brokered the sale of 5410 Indian Head Highway, a three-story, 22,800-square-foot office building in the Oxon Hill section of Prince George’s County, Maryland, for $2.3 million. Former owner Indian Head Assets acquired the three-story building…
Penn-Florida Cos. has updated its plans for Universal Village in Boca Raton. The developer purchased the land in 2013 and secured the zoning on 77 acres near Florida Atlantic University in 2015 but has yet to start construction. The S….
Antiquarian book company Bauman Rare Books is opening a new street-level gallery at Jack Resnick & Sons’ 485 Madison Ave. in Midtown Manhattan. As part of a new ten-year lease, Bauman will occupy 3,500 square feet on the ground and second floors of the 25-story tower. Founded by…
The Trepp CMBS Special Servicing Rate rose 33 basis points to 8.79% in September. This was the ninth consecutive monthly increase and the second-largest uptick of 2024, the firm reported. Distress was consistent throughout, with the respective special servicing rates of the…
CIM Group is rethinking its plan to build 60 apartments. Instead, the lead developer of Centennial Yards is planning to build a 127-room hotel at 88 Elliott Street. The project would include street-level retail. The Atlanta Business Chronicle reports Atlanta…
Cap rates in the net lease sector continued to rise in the third quarter of 2024, albeit slightly, net lease brokerage The Boulder Group reported. The overall rise was three basis points quarter-over-quarter, with the average cap rate coming in…
GBT has spun off the 201-unit Parke West apartment tower for $72.5 million, nearly $350,000 a unit. Elmington Residential was the buyer. GBT developed the 17-story tower near the intersection of Murphy Road and West End Avenue, which opened in 2022. The…
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