DES MOINES, IOWA — Foss & Co., a tax credit syndicator, has secured financing for the Financial Center, a 25-story office tower in downtown Des Moines. Developed by Lawmark Capital, the project will convert the building into 209 market-rate apartment units and 152,000 square feet of commercial space, generating approximately $14.6 million in 2026 federal Historic Tax Credits. Constructed between 1973 and 1974, the Financial Center was the tallest building in Iowa upon its completion. The conversion plan will transform a portion of floors one through three and all of floors four through 18 into residential units. Resident amenities will include a golf simulator, fitness center, rooftop deck with a pool and direct access to Des Moines’ 4.2-mile downtown skywalk system.
ELGIN, ILL. — Principle Construction Corp. has completed a truck maintenance and warehouse facility for Orozco Trucking at 2580 Mason Road in Elgin. The build-to-suit project provides the climate-controlled and dry freight specialist with a permanent home following its relocation from a leased site in Elk Grove Village. The 55,468-square-foot headquarters features a mix of office, maintenance and warehouse space. Situated on previously undeveloped land with immediate access to I-90, the site also offers room for future expansion. The new facility includes a two-story office space totaling 23,000 square feet, 16,800 square feet of maintenance space and 15,000 square feet of warehouse space. The warehouse and maintenance portion feature a clear height of 26 feet, four dock doors and four drive-in doors. Harris Architects was the project architect.
CARY, N.C. — Woodfield Development has broken ground on a 330-unit apartment community located across from the Tryon Village shopping center at 2818 Macedonia Road in Cary, a suburb of Raleigh. Eagle Realty Group is serving as equity partner and capital provider for the $100 million project. The unnamed, five-story residential complex will feature studios, one-, two- and three-bedroom apartments in a five-story building that will wrap around a parking deck. The complex will feature more than 13,500 square feet of interior amenity space that will include a leasing office with a conference room and outdoor patio; coworking center with private business stations and conference rooms; coffee and gaming lounge with a coffee bar, grab-and-go market and golf simulator; resident clubhouse with a full kitchen, game area, maker’s room and library; two-story fitness center with a dedicated group fitness studio; dog spa; and a sky lounge with indoor/outdoor entertaining space overlooking the city. Outdoor amenities, which will span more than 40,000 square feet across three landscaped courtyards, will include a resort-style swimming pool with cabanas; grilling stations; gathering areas; fire pits; artificial turf recreation spaces; an outdoor fitness area, sauna and cold plunge; as well as a dog park with …
SOUTHWEST RANCHES, FLA. — FRP Development Corp. has acquired 24 acres in Southwest Ranches, a town in South Florida’s Broward County. FRP plans to develop Logistics Center at Southwest Ranches, a planned 300,000-square-foot industrial facility, at the site. The project is expected to include 36-foot clear heights, dock-high loading, expansive truck courts, trailer parking and flexible configurations, and will be designed to serve logistics, manufacturing and regional distribution users. Completion of the development is anticipated for 2028. Further details of the timeline were not disclosed. Tenants at Logistics Center at Southwest Ranches will have nearby access to Port Everglades, Port Miami, Miami International Airport, Fort Lauderdale-Hollywood International Airport and the Florida East Coast Railway’s intermodal network.
SAN MARCOS, TEXAS —Houston-based owner-operator Triten Real Estate Partners will develop a 175,000-square-foot industrial project at 2651 Leah Ave. in San Marcos, located roughly midway between Austin and San Antonio. The 12-acre site is located less than a mile from I-35, and the shallow-bay building features suites with an average size of 11,000 square feet, as well as 28-foot clear heights, 140-foot truck court depths and both dock-high and grade-level loading doors. Construction is scheduled to begin before the end of the year and to be complete in mid-2027.
IRVING, TEXAS — Lone Star PACE has provided an $11.6 million C-PACE (Commercial Property Assessed Clean Energy) loan for a data center conversion project in Irving. The project centers on the conversion of the vacant, 113,406-square-foot industrial flex building at 6001 Campus Circle Drive W, which was built on 4.7 acres in 1981, into Vesgro Data Center, a colocation facility with a 45,000-square-foot data hall and 3.0 megawatts of power capacity. The borrower is local data center developer Infrascale Systems. Construction is underway and expected to be complete in September.
TOLLESON, ARIZ. — Developer GO Industrial and general contractor Willmeng Construction have broken ground on GO|99 North, a 1.1 million-square-foot speculative industrial building in Tolleson. GO|99 North will feature a Class A warehouse and distribution facility. Situated on 75 acres in Tolleson’s Estrella Park neighborhood, the property will feature 40-foot clear heights, 190 dock-high doors, four grade-level doors and all-concrete, 245-foot truck courts. Additionally, the air-conditioning-ready warehouse will include 1,200 parking spaces for cars, 113 spots for trucks and trailers, 3,600 amps of expandable power and perimeter fencing with seven rolling gates. Designed by DLR Group, GO|99 North will complement GO|99 South, a three-building, 1.3 million-square-foot industrial park.
FORT COLLINS, COLO. — Livmark Communities has broken ground on The Collins Apartments at Union Park, a 457-unit multifamily project in Fort Collins. Once complete, The Collins will feature 233 one-bedroom units, 160 two-bedroom apartments and 64 three-bedroom residences. Units will include quartz countertops, balconies, 36-inch bathtubs, kitchen islands, full-size washers and dryers, walk-in closets, luxury vinyl plank flooring and smart thermostats and locks. Community amenities will include a clubhouse, fitness room with yoga studio, sauna, golf simulator, pool and hot tub with cabanas, turf lounge area with cornhole, rooftop decks facing the mountains, controlled access, locked bike storage, elevators, community-wide gig-speed WiFi and garages with EV charging. The all-electric design will also include solar panels. The first units are slated for delivery in spring/summer 2027. Concord Summit Capital arranged a previously announced $115.5 million construction loan for the project.
PORTLAND, ORE. — Prologis is underway on construction of a 271,828-square-foot industrial facility at 3509 N.E. Columbia Blvd. in Portland. Daimler Truck North America (DTNA) will occupy the building, which will be known as Prologis Broadmoor, to support its aftermarket parts distribution operations. The Class A property will feature 36-foot clear heights and an 8,750-square-foot office space. Construction began in April 2026, with shell completion expected for early 2027. Prior to vertical construction, Prologis completed significant wetlands restoration project involving approximately 45 acres of land surrounding the facility that previously supported water- and fertilizer-intensive golf course operations.
MPZ, Capstone Near Completion of $36M Multifamily Adaptive Reuse Project in Templeton, Massachusetts
TEMPLETON, MASS. — A partnership between metro Boston-based MPZ Development and Capstone Communities is nearing completion of a $36 million multifamily adaptive reuse project in Templeton, about 65 miles northwest of Boston. A housing lottery was launched and closed on July 15, and full completion is slated for this fall. Designed by ICON Architecture, the project converted the historic Baldwinville Elementary School, which was originally built in 1923, into a 54-unit apartment complex known as Baldwinville School Apartments. Residences come in studio, one-, two- and three-bedroom floor plans, and the majority (49) of the units are reserved for households earning between 30 and 60 percent of the area median income. Amenities include a children’s playground, fitness center, electric vehicle charging stations, onsite laundry facilities and a community walking trail and green space.
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