Development

Torburn Signs Whole Foods to Anchor Mixed-Use Redevelopment of Sarasota Square Mall

by John Nelson November 26, 2025

SARASOTA, FLA. — Torburn Partners has announced plans for Sarasota Square, the redevelopment of the former Sarasota Square Mall. The Chicago-based developer signed leases with Whole Foods Market and HomeSense to anchor the first phase of the 96-acre mixed-use project. The retail portion is under construction, and the multifamily component will break ground in first-quarter 2026. Full plans for Sarasota Square include 1,200 luxury residential units; 530,000 square feet of retail, restaurant, and commercial space; and open-air gathering space for social events and community programming. Whole Foods will occupy a 35,828-square-foot grocery store, and HomeSense will occupy a 24,214-square-foot store. Other committed tenants include Chipotle Mexican Grill, CAVA Mediterranean, Joe & The Juice and Charles Schwab, which will open a 5,163-square-foot bank branch. Rod Castan and Alyona Tsutskova of Metro Commercial Real Estate are leading the retail leasing assignment at Sarasota Square on behalf of Torburn Partners.

November 26, 2025

Development North Carolina Southeast Student Housing

Landmark-Led Group Acquires 40-Acre Site Near Appalachian State University, Plans Cottage-Style Student Housing Development

by John Nelson November 26, 2025

BOONE, N.C. — A joint venture between Landmark Properties, HC2 Capital and Peninsula Investments has acquired a 40-acre development site near the Appalachian State University campus in Boone. The parcel will be home to a 625-bed student housing community dubbed The Retreat at Boone. The development will offer 148 cottage-style units in three- through five-bedroom configurations with bed-to-bath parity. Shared amenities are set to include a resort-style pool and spa with cabanas and hammocks; a jumbotron; fire pit and grilling areas; a skate park; fitness center; golf simulator; recreational lawn games; and a computer lab. The development team for the project, which is scheduled for completion ahead of Appalachian State’s 2027-2028 academic year, includes Landmark Construction and Niles Bolton Associates. Trustmark Bank and First Financial Bank provided construction financing.

November 26, 2025

Data Centers Development Indiana Industrial Midwest

Amazon Plans to Invest $15B to Build New Data Center Campuses in Northern Indiana

by Kristin Harlow November 26, 2025

INDIANA — Amazon has unveiled plans to invest an estimated $15 billion in northern Indiana to build new data center campuses to support artificial intelligence (AI) and cloud computing technologies. The company says that generative AI is driving increased demand for advanced cloud infrastructure and compute power. The investment is in addition to the $11 billion investment announced last year in St. Joseph County and will expand Amazon’s infrastructure to new sites across Indiana. The new project will add 2.4 gigawatts of data center capacity in the region. The investment is expected to create more than 1,100 new high-skilled jobs while supporting thousands of other jobs in the data center supply chain. Amazon has partnered with NIPSCO to power its data centers. Through its newly created subsidiary NIPSCO Generation LLC, Amazon will pay fees to use existing power lines and cover the costs for any new power plants, power lines or equipment needed to serve the data center project without additional cost to local residents and businesses. These cloud computing and AI innovation campuses join Amazon’s operations footprint across Indiana that now includes 15 fulfillment and sortation centers, 11 delivery stations and data centers in New Carlisle, Ind. Since 2010, …

November 26, 2025

Build-to-Rent Development Single-Family Rental Texas

Empire Homes Completes 182-Unit Build-to-Rent Project in Hockley, Texas

by Taylor Williams November 26, 2025

HOCKLEY, TEXAS — Empire Homes has completed Veranda Dellbrook, a 182-unit build-to-rent project in Hockley, about 40 miles northwest of Houston. Designed by KTGY, the property features one-, two-, three- and four-bedroom homes that range in size from 634 to 1,434 square feet. Amenities include a clubhouse, pool, outdoor lounge with grilling stations, a fitness center and a dog park. Information on starting rents was not disclosed.

November 26, 2025

Development New York Northeast Office

Waterman, HPS Begin Renovation of 605,000 SF Office Building in Midtown Manhattan

by Taylor Williams November 26, 2025

NEW YORK CITY — A partnership between New York City-based Waterman Interests and alternative asset management firm HPS Investment Partners has begun the renovation of 850 Third Avenue, a 605,000-square-foot office building in Midtown Manhattan. Renovations to the 21-story building, which was originally constructed in 1961, will include an expanded lobby with contemporary finishes and a 14,000-square-foot conference and social center with 200-seat capacity. In addition, the project team, led by design firms MdeAS Architecture and Vocon, as well as general contractor Turner Construction and mechanical engineer Cosentini Associates, will deliver new elevators, windows, storefronts and building systems. A tentative completion date was not announced.

November 26, 2025

Development Industrial Leasing Activity South Carolina Southeast

Glenstar Inks 1.3 MSF Industrial Lease with First Solar at CCC-85 Project in Gaffney, South Carolina

by John Nelson November 25, 2025

GAFFNEY, S.C. — Glenstar Logistics has signed First Solar to a 1.3 million-square-foot lease at Cherokee Commerce Center 85 (CCC-85), a 290-acre industrial development in Gaffney. First Solar will invest $330 million to expand CCC-85’s Building 2 from a 550,520-square-foot, cross-dock facility into a 3.7-gigawatt manufacturing plant spanning 1.3 million square feet. First Solar will use the facility to transform thin-film solar cells produced by First Solar’s international fleet into fully assembled modules. The plant is expected to create more than 600 jobs and begin operations in second-half 2026. The facility is located at 121 Logistics Drive, which sits about equidistant between Charlotte and Greenville along I-85 in Cherokee County. First Solar, which is the largest solar panel manufacturer in the country, operates a distribution center in nearby Duncan, S.C. Michael White of Savills and Nate Zoucha of CBRE represented First Solar in the lease transaction. John Montgomery, Garrett Scott, Dillon Swayngim and Brockton Hall of Colliers’ Spartanburg office represented the landlord. The design-build team for the expansion includes Evans General Contractors, Ware Malcomb and SeamonWhiteside. Glenstar, along with capital partner Creek Lane Capital, delivered Building 2 at CCC-85 in January.

November 25, 2025

Development Multifamily Texas

Presidium Completes 374-Unit Apartment Community in North Austin

by Taylor Williams November 25, 2025

AUSTIN, TEXAS — Texas-based developer Presidium has completed Presidium 183, a 374-unit multifamily project located near The Domain in North Austin. Designed by O’Brien Architects, Presidium 183 offers several different floor plans, and units are furnished with stainless steel appliances, quartz-style countertops and individual washers and dryers. Amenities include a coworking lounge with private offices, fitness center with yoga and spin studios, a speakeasy-style bar, entertainment room with a theater and golf simulator, outdoor game lawn, pool and a dog run. Construction began in late 2023. Leasing launched in April, at which point rents started at roughly $1,320 per month for a studio apartment.

November 25, 2025

Development Leasing Activity Restaurant Retail Texas

McDonald’s to Open Restaurant at Shops at Sedona Lakes in Manvel, Texas

by Taylor Williams November 25, 2025

MANVEL, TEXAS — McDonald’s will open a new restaurant in Manvel, located south of Houston. The fast food giant has ground-leased a 43,720-square-foot pad site at The Shops at Sedona Lakes from local owner-operator NewQuest. Lara Lee LaMendola represented NewQuest in the negotiations on an internal basis. Greg Stanislawski of The Retail Strategy represented McDonald’s.

November 25, 2025

Colorado Development Multifamily Western

Greystar Launches Leasing at 309-Unit High-Rise Apartment Property in Denver

by Amy Works November 25, 2025

DENVER, COLO. — Preleasing has begun at The Parson, a 309-unit high-rise Greystar is developing in Denver’s Golden Triangle neighborhood. The project is slated for completion next year. According to Zillow, monthly asking rents range from $2,055 for a studio to $13,690 for a three-bedroom penthouse. The Parson features 4,100 square feet of retail space. Amenities include a fifth-floor pool with views of the Rocky Mountains, a two-story gym with a sauna and a yoga lawn, concierge services, shared workspaces and an indoor and outdoor dog park. Ziegler Cooper was the architect.

November 25, 2025

Development Multifamily New York Northeast

Partnership Completes Lease-Up of 49-Unit Apartment Building in Brooklyn

by Taylor Williams November 25, 2025

NEW YORK CITY — A partnership between William Macklowe Co. and GreenBarn Investment Group has completed the lease-up of a 49-unit apartment building in the Park Slope area of Brooklyn. Designed by SLCE Architects with interiors by Durukan Design, the four-story building is part of the Paseo on Fifth development, which comprises 131 units across two buildings. Residences at Paseo on Fifth come in studio, one- and two-bedroom floor plans. Rents start at roughly $3,200 per month for a studio apartment.

November 25, 2025

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