CTO Realty Growth has purchased Ashley Park, a 559,000-square-foot retail center in Newnan, Ga., for $79.8 million. The previous owner was Apollo Global Management, which had bought it for $89.8 million in 2015, according to CommercialEdge information.

CTO John Albright said that the company acquired Ashley Park below replacement costs, adding that, with below-market rents, the asset provides an opportunity for strategic lease-up.

Ashley Park is a 60-acre shopping center at 354 Newnan Crossing Bypass, 38 miles southwest of downtown Atlanta. It receives roughly 6 million visits per year.

Dick’s Sporting Goods, Best Buy, Barnes & Noble, Regal and Dillard’s anchor the property, which was 93 percent leased at the time of sale.

CTO Realty Growth is a publicly traded real estate investment trust that owns and operates a portfolio of retail-based properties primarily in higher-growth markets in the United States.

Origin Investments acquired the Queens Wedgewood-Houston (Queens WeHo), a 221-unit multifamily community at 715 Hagan St. in the WeHo neighborhood of downtown Nashville, Tenn. The purchase price exceeded $79.4 million.

Queens Wedgewood-Houston, developed by Proffitt Dixon, was delivered in 2023 and features a mix of studio, one-, two-, and three-bedroom units ranging in size from 559 square feet to 1,120 square feet. At the closing, the stabilized community was approximately 94% occupied after leasing at a pace of more than 20 units per month during the summer and fall. 

Another significant benefit of the property is its restaurant and retail space. It is fully leased to Mercado by Butchertown, a Nashville restaurant with a rooftop bar, Ramone’s.  

A Walker & Dunlop team led the Investment Sale and Debt Placement efforts in the transaction.

With this acquisition, Origin Investments’ portfolio of multifamily properties totals nine communities and over 2,300+ units in varying stages of pre-development, construction or operation in Nashville.

Trinity Capital Advisors and Nuveen Real Estate have unloaded Alexander Commerce Park, a three-building, 441,072-square-foot logistics portfolio in Raleigh-Durham’s Research Triangle Park. The property sold for $80.2 million. The park, delivered in 2023, is 100% occupied by four tenants, including Upper Deck, Wolfspeed, Wesco, and Running Logistics. Prologis was the buyer.

Trinity has been busy in the Triangle region. Over the past 10 years, the firm has acquired or developed over 9.0 million square feet of office, industrial, and life science assets totaling $2.2 billion in capitalization. Major projects include Eastgate 540 (980,000 square feet across six industrial buildings), 147 Exchange (274,370 square foot industrial building), Park Point (645,000 square foot adaptive reuse life science park), Spark LS (1.7 million square foot life science campus), and Southport Innovation Center (911,000 square foot life science/flex manufacturing campus).

Pete Pittroff, Dave Andrews, and Zachary Lloyd led the JLL Investment Sales and Advisory team representing the seller.

Highwoods sold an eight-building Raleigh medical office portfolio to two separate buyers. Evergreen Medical Properties acquired the seven buildings in the Rexwoods Office Center campus in West Raleigh. Northwood Ravin purchased a nearly 100,000-square-foot building next to the Research Triangle Park between Durham and Raleigh. The Rexwoods campus is across from UNC-REX Hospital. The Rexwoods campus was 84 percent occupied. The total price for the 338,000-square-foot deal was $79.4 million

Commercial Edge reports Evergreen received $23.9 million in financing from Webster Bank and a $22.5 million loan from Equitrust Life Insurance Co. to finance the acquisition of the Rexwoods campus. Meanwhile, Highwoods Properties provided $6.2 million in non-recourse first mortgage seller financing to Northwood for the RTP building.

Highwoods Properties developed and purchased the buildings between 1982 and 1998.

JLL Senior Managing Directors Mindy Berman and Ryan Clutter were part of the team involved in the sale. Senior Director Anthony Sardo and Director Ward Smith arranged the debt financing.

GXP-Storage is developing an $80 million, 30-acre campus in Middlesex Corporate Centre that it plans to use as its international headquarters. The buildings are just east of Raleigh, off US Hwy. 64. The company says it will be hiring up to 100 employees.

GXP stores samples, containers and pallets of material in various temperatures from controlled ambient to ultra-low and cryogenic settings for life sciences companies. The materials are regulated for research and manufacturing, as well as healthcare-related biomedical and biodefense materials.

The Triangle Business Journal reports Nash County owned the land, and the county commissioners voted late last year to sell the land and an existing shell building to GXP for about $4.6 million.

GXP-Storage aims to have the first facility — in the shell building — operational by May.

The first building at the GXP-Storage campus will be a roughly 63,000-square-foot building with more than 200,000 cubic feet of storage capacity. The company says there is room for over 1 million square feet of floor space.

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Madison Communities secured an $80 million construction loan for its latest project, a 320-unit multifamily community in the Lower South End (LoSo) neighborhood in Charlotte, N.C.

META Real Estate Partners and Bank of America provided the financing. Patterson Real Estate Advisory Group served as the capital advisor and facilitated the sourcing of the loan.

Situated adjacent to Olde Mecklenburg Brewery, Charlotte’s oldest brewery, the new project will include dedicated parking to accommodate brewery patrons. The new community is located at the intersection of S. Tryon Street and E. Peterson Drive. 

Madison Capital Group will relocate its corporate headquarters to the property directly next to Olde Mecklenburg Brewery.

The Scaleybark light-rail station, within walking distance of the community, provides convenient access to South End, Uptown Charlotte, and beyond.

The adaptive reuse of historic warehouses into retail spaces has revitalized the neighborhood, transforming it into a live-work-play destination.

Shoals Technologies Group is investing $80 million to expand its manufacturing and distribution center in Sumner County.

The Nashville Business Journal reports the expansion will add 550 new jobs to the region, bringing the company’s local headcount to 1,400. The company is moving its operations to a 638,000-square-foot plant at 1500 Shoals Way as part of the expansion.

The Portland-based company makes products for solar panel installations, such as fuses and cable assemblies, as well as battery storage and electric vehicle infrastructure. Shoals Technologies Group says on its website it is the leading electrical balance of systems (EBOS) provider for solar, energy storage, and eMobility. Although the business has been around 27 years, it went public in 2021.

It’s unclear if the company received any incentives for the investment. State grants are revealed 30 days after a public announcement.