DALLAS — Cadence McShane has completed a 143,000-square-foot academic project in North Dallas. The Henry W. Longfellow Career Exploration Academy is a replacement school for the Dallas Independent School District. In addition to classrooms, the three-story building houses administrative offices, fine arts spaces, a theater, library, cafeteria and kitchen and physical education facilities. Huckabee designed the project.
MEDFORD, MASS. — Locally based owner-operator The Davis Cos. has sold a 922-unit self-storage facility in Medford, a northern suburb of Boston. Davis acquired the facility at 970 Fellsway, which spans 80,995 net rentable square feet, in 2019 and subsequently implemented capital improvements, as well as a 297-unit expansion. Extra Space Storage operates the facility, which was 84 percent occupied at the time of sale. The buyer was a joint venture between Invesco Real Estate and Baranof Holdings.
CHARLOTTE, N.C. — Averitt, a transportation and supply chain management company based in Cookeville, Tenn., has announced plans to develop a regional logistics campus near Charlotte Douglas International Airport. Charlotte Business Journal reports that the freight company is investing $200 million for the 100-acre campus. The development will include two distribution centers totaling more than 500,000 square feet; a 75,000-square-foot cross-dock facility; a two-story regional office totaling 16,000 square feet; and parking for more than 400 trailers. The campus will also offer fleet maintenance, fueling and driver support facilities. The investment is expected to double Averitt’s Charlotte area workforce over the next four years and will replace its current 40,000-square-foot service center at 3708 Westinghouse Blvd. that houses 182 full-time associates. Construction on the new campus is expected to begin immediately and wrap up in 2028.
COLUMBIA, S.C. — TSCG has signed Sprouts Farmers Market to anchor Devine Crossing, a redevelopment project located in Columbia. The new 24,113-square-foot grocery store will occupy the former Piggly Wiggly site, which served the community for more than 50 years before closing in 2025. Locally based Cason Development acquired the 3.2-acre property last May. Alan Freeman of TSCG represented Sprouts Farmers Market in the lease negotiations. TSCG will also lease the remaining space at Devine Crossing. Along with Sprouts, Devine Crossing will include approximately 10,000 square feet of inline retail, as well as an additional 5,000 square feet of multi-tenant building space, bringing the full project to roughly 40,000 square feet of new and redeveloped retail. Sprouts Farmers Market is expected to open in 2027.
LOS ANGELES — IPA Capital Markets, a division of Marcus & Millichap, has arranged $116.5 million in financing for the development of a 1.4 million-square-foot industrial property in the Pacific Northwest. Gary Mozer and Lee Norman of IPA secured the financing on behalf of a national real estate development investment firm specializing in the acquisition, development and management of commercial real estate. “The credit nature of the tenant allowed us to secure 95 percent loan-to-cost financing at a five-year, fixed rate of 5.28 percent,” said Mozer. “The loan includes yield maintenance prepayment terms, with the final six months open with no prepayment penalty.”
RICHMOND HEIGHTS, OHIO — Walker & Dunlop has arranged $55.2 million in construction financing for Phase I of Belle Oaks Marketplace, a mixed-use redevelopment project in Richmond Heights, a suburb of Cleveland. Ryan Parker led the Walker & Dunlop team that arranged the floating-rate loan. Genesis Capital provided the loan on behalf of the borrower, DealPoint Merrill. Plans call for 181 Class A multifamily units across two buildings as part of the first phase of a larger mixed-use, master-planned redevelopment. Upon completion, Belle Oaks Marketplace will transform the former Richmond Town Square Mall into a mixed-use community with 798 multifamily units, more than 120,000 square feet of retail space, a 159,000-square-foot grocery anchor and additional community amenities.
INDIANAPOLIS — General contractor Skender has completed common area upgrades and four office build-outs at Keystone Crossing, a five-building, 1.1 million-square-foot office park in Indianapolis. The four tenant build-outs, totaling 57,000 square feet, and common area enhancements were completed on behalf of landlords Interamar and Typerion Holdings, which acquired the campus in late 2024 and are implementing a significant repositioning. At the 8888 Building, Skender completed a 15,000-square-foot gut remodel of the existing 16th floor and turned the space into a modern workplace for WestPoint Financial Group, a MassMutual firm. At the 9000 Building, Skender completed a 7,000-square-foot build-out for the Indiana Apartment Association. The workspace includes a new training room, breakroom and several private offices. At this building, Skender also converted two former ground-floor suites into a new amenity center with a café, fitness center, golf simulators and upgraded restrooms. At the 9100 Building, Skender completed the 21,000-square-foot national headquarters for Delta Tau Delta. The project included full demolition of the existing space and a renovation, including private offices, a breakroom and dedicated display areas showcasing the fraternity’s history and memorabilia. Skender also completed a 14,000-square-foot office build-out for accounting firm CliftonLarsonAllen. The workspace includes a café, training room …
DENTON, TEXAS — The NRP Group, a Cleveland-based multifamily developer, has broken ground on Arbor Ranch, a 297-unit affordable housing project in the North Texas city of Denton. The site at 2820 Roselawn Drive spans 22 acres, and the development will consist of nine three-story buildings that will house one-, two-, three- and four-bedroom units and will be reserved for households earning between 30 and 70 percent of the area median income. Amenities will include a pool, playground, barbecue and picnic areas, children’s activity room and a community lounge, and residents will also have access to various onsite social services. Younger Partners brokered the sale of the land. Truist Bank provided a $68 million construction loan for the project. The first units are expected to be available for occupancy early next year.
DALLAS — Locally based hospitality investment and management firm NewcrestImage has completed the renovation of Hotel Mockingbird, a 296-room establishment in the Highland Park area of Dallas. In addition to various property upgrades, ownership introduced two new food-and-beverage concepts: Verse Kitchen and Bar, a speakeasy-style restaurant, and Raven, which offers refined drinks and light bites. NewcrestImage acquired the Hotel Mockingbird, formerly known as the Beeman Hotel, in October 2024. Coury Hospitality manages the hotel.
CELINA, TEXAS — Walmart has opened a 200,000-square-foot Supercenter store in the North Texas city of Celina. The store is located within Shawnee Trail, a 150-acre mixed-use project that is being developed by Trademark in partnership with family holding company Glendenning 1887 and the Celina Economic Development Corp. Construction of the first phase of the broader development of Shawnee Trail will begin next year and will include additional retail, restaurant and entertainment space, as well as parks and public spaces.
