FORT WORTH, TEXAS — Orlando-based Foundry Commercial will develop Gemini Logistics Center, a 192,000-square-foot industrial project in Fort Worth. The address was not disclosed, but the 15-acre site is located along the I-35 corridor in the Meacham submarket on the city’s north side. Gemini Logistics Center will be a two-building development, with both structures featuring rear-load configurations and dock-high loading areas. A construction timeline was not disclosed.
DELRAY BEACH, FLA. — Pebb Capital has received a $223 million loan for the refinancing of Sundy Village, a seven-acre mixed-use campus under development in downtown Delray Beach, a coastal city in South Florida’s Palm Beach County. J.P. Morgan and Hudson Bay Capital provided construction financing for Phase II, replacing the project’s existing construction loan while providing additional capital for tenant improvements. J.P. Morgan also provided the original construction financing for Phase I of the project, along with Monroe Capital. Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz and Dustin Stolly of Walker & Dunlop arranged the financing. Phase I of Sundy Village comprises 100,000 square feet of office space, 30,000 square feet of shops and restaurants, indoor-outdoor gathering spaces and 268 parking spaces. Tenants include Vertical Bridge, Industrious, Barcelona Wine Bar, Van Leeuwen Ice Cream, Double Knot, Drinking Pig BBQ, Maman, Dragonfly MRI, JTC and Fairstead Development, among others. Phase II will add a 79,141-square-foot, standalone office building, a 165-space parking garage and 3,400 square feet of ground-floor retail space.
CHARLOTTE, N.C. — A partnership between Spandrel Development Partners and 7G Group has announced plans to add a 200-room W Hotel to 400 South Tryon, a redevelopment of a 1970s-era office tower in Uptown Charlotte. The new hotel will be situated on the first nine floors of the tower, along with an 18,000-square-foot rooftop bar on the 34th floor. Other components of the tower include 399 unbranded apartments, residential amenities and an existing 517-space parking garage. The W Charlotte will offer 173 guest rooms, 27 suites (including a penthouse), 12,000 square feet of meeting space, a ground-floor restaurant and coffee bar and a ballroom with pre-function space. The design-build team for the new hotel includes Rockwell Group, LS3P and CetraRuddy. The timeline for the hotel’s opening was not released.
SHERMAN, TEXAS — Dallas-based Carbon Shepherd Development has completed an 84-unit independent living project in the North Texas city of Sherman. Woodland Cottages Sherman offers one- and two-bedroom units that are reserved for renters age 55 and above. Amenities include a pool, fitness center, game room and a pickleball court, as well as onsite staffing and programming. Additionally, two-bedroom units at Woodland Cottages Sherman feature attached single-car garages. Information on starting rents was not disclosed.
KNOXVILLE, TENN. — A public-private partnership between RISE: A Real Estate Co. and the University of Tennessee has completed Torchbearer Hall, a 1,024-bed residence hall development on the institution’s campus in Knoxville. The project is Phase II of a larger development plan that has delivered 3,000 beds to date. The property features a centralized hub with reception areas, staff offices, community kitchens and lounges. Additional shared amenities include study rooms, multipurpose spaces, resident gathering areas and laundry facilities. The development team for Torchbearer Hall included Niles Bolton Associates, Cope Architecture, Blaine Construction, Brailsford & Dunlavey, RBC Capital Markets and Provident Resources Group.
MINOOKA, ILL. — Prologis has acquired 69 acres in Minooka within Chicago’s I-80 submarket with plans to develop Minooka Exchange, a 1 million-square-foot logistics facility. The single-story, cross-dock building will feature a clear height of 40 feet, 290 car parking spaces and an 185-foot truck court. The site is adjacent to Canadian National Railway’s Chicago Logistics Hub, which is under construction. Prologis expects to break ground in the coming weeks.
TOPEKA, KAN. — Hoefer Welker has designed The Hutch, a 192-unit apartment project slated to break ground in October in Topeka. Plans call for 2,500 square feet of ground-floor retail space and 5,500 square feet of resident amenities, including a rooftop viewing deck overlooking the State Capitol, a courtyard pool, fitness center, speakeasy lounge, dog park and mini-park. The four-story, 400,000-square-foot development will be situated adjacent to a newly renovated public parking structure.
NORWOOD, MASS. — Colliers has arranged the $44.5 million construction loan for a 145-unit multifamily project in Norwood, located southwest of Boston. The site is located at 259 Lenox St., and the new five-story building will offer studio, one- and two-bedroom units, 20 percent of which will be earmarked as affordable housing. Amenities will include an outdoor pool, fitness center, golf simulator, coworking spaces and grilling and dining stations. Patrick Boyle, Matt Lombardi Jr. and Rose Liu of Colliers arranged the loan through Beacon Bank on behalf of the developer, Tremont Asset Management.
SURPRISE, ARIZ. — Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, Fla., has acquired a land parcel at 17140 W. Waddell Road in Surprise for the development of a self-storage facility. Additionally, Basis Industrial closed on a $20.5 million construction loan for the project. NexBank and NexPoint provided the construction financing. The development will encompass approximately 102,673 square feet with 707 climate-controlled storage units upon completion. Construction is expected to begin later this year, with completion and opening slated for fall 2027. The project will be situated within the Truman Ranch master-planned community, including more than 600 new apartment units.
FLEMINGTON, N.J. — Locally based owner-operator Larken Associates has completed the renovation of Raritan Commons, a 67,040-square-foot office building in Flemington, about 60 miles southwest of Manhattan. Renovations included upgrades to common areas and hallways, including new sconces and LED lighting, furniture, signage, flooring, wallpaper and wall paintings. Additionally, the firm remodeled common-area bathrooms with new flooring, walls, fixtures, lighting, countertops and partitions.
