Friday, September 25, 2026
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Development

CityNorth Industrial Park
AcquisitionsDevelopmentIndustrialTexas

Partnership Acquires Shuttered Mall in North Houston, Plans $150M Industrial Redevelopment

by Taylor Williams

HOUSTON — A partnership between Dallas-based Lincoln Property Co. (LPC) and New York Life Investment Management has acquired a shuttered mall in North Houston with plans to implement a $150 million industrial redevelopment. Greenspoint Mall first opened in the mid-1970s at the northeast corner of I-45 and Beltway 8 and closed about two years ago. The partnership plans to demolish the mall in the coming days and redevelop the 80-acre site with 1.2 million square feet of cross-dock and rear-load industrial buildings, along with retail and service uses. The new development, which will be known as CityNorth Industrial Park, is expected to be complete in early 2028. Powers Brown Architecture is the project architect. Kimley-Horn is the civil engineer, and E.E. Reed Construction is the general contractor. Warren Hitchcock of Northmarq advised LPC on the joint venture partnership with New York Life.

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161-Concord-Road-Billerica-Massachusetts
DevelopmentLife SciencesMassachusettsNortheast

Berkeley Garbe Underway on 150,000 SF Life Sciences Project in Billerica, Massachusetts

by Taylor Williams

BILLERICA, MASS. —Berkeley Garbe, a Boston-based developer that is a joint venture between Berkeley Investments and German real estate company GARBE, is underway on construction of a 150,000-square-foot life sciences project in Billerica, located northwest of the state capital. The site spans 23 acres at 161 Concord Road, and the new building will support manufacturers in industries such as aerospace, robotics, medical devices, semiconductors, computer hardware and battery technologies. Building features will include a clear height of 28 feet and 264 car parking spaces. Avison Young is the leasing agent for the project, which is expected to be complete next spring.

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18W55-Manhattan
DevelopmentMultifamilyNew YorkNortheast

Skyline Developers Completes 97-Unit Apartment Building in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — New York City-based Skyline Developers has completed a 97-unit apartment building at 18 W. 55th St. in Midtown Manhattan. Designed by Morris Adjmi Architects, the 25-story building is known as 18W55 and features studio, one-, two- and three-bedroom floor plans, as well as 5,265 square feet of retail space. Amenities include a fitness and wellness center, coworking suite with private meeting rooms, a private cinema, golf simulator and entertainment suite and a social lounge. Construction began in mid-2023 and topped out in summer 2024. Leasing launched about nine months ago, and the building is now fully occupied.

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piedmont-newton
Company NewsDevelopmentGeorgiaHealthcareSoutheast

Piedmont Healthcare to Invest $600M to Relocate Hospital in Covington, Georgia

by Abby Cox

COVINGTON, GA. — Piedmont Healthcare has filed a Letter of Determination with the Georgia Department of Community Health whereby the health system plans to invest nearly $600 million to relocate Piedmont Newton Hospital to a new site located directly off I-20. The current Newton County hospital is roughly two miles closer to the heart of Covington. Piedmont Healthcare is fully funding the project. Originally opened in 1954 as Newton Medical Center, the existing hospital is licensed for 128 beds. Piedmont partnered with Newton Medical Center to form Piedmont Newton in 2015.  Piedmont says that the existing hospital is limited by its age and its landlocked site, whereas the planned relocation facility will facilitate modernization efforts. If approved, the new hospital would be Piedmont’s second-largest capital investment after the Marcus Tower that opened on its Piedmont Atlanta Hospital campus in 2020, according to the company.

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Wellstead at Kinderton Farms
Build-to-RentDevelopmentMultifamilyNorth CarolinaSoutheast

Canvas Residential, Kelley Properties to Develop 141-Unit Build-to-Rent Project in Bermuda Run, North Carolina

by Abby Cox

BERMUDA RUN, N.C. — Canvas Residential Partners and Kelley Properties plan to develop Wellstead at Kinderton Farms, a 141-unit build-to-rent project located in Bermuda Run, a town in Davie County roughly 13 miles west of Winston-Salem, N.C. Site work is expected to commence this month, with the first homes scheduled for delivery in spring 2028. Wellstead at Kinderton Farms will include 128 townhomes and 13 single-family detached homes. Townhomes will range up to 1,700 square feet in size and will offer two- to four-bedroom floorplans and two-car garages. Single-family homes will total up to 2,100 square feet in size and will feature four bedrooms and two-car garages. Amenities at the community will include a clubhouse and leasing center overlooking a lake, a dedicated wellness center, swimming pool, resident lounge, dog park and neighborhood sidewalks.

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Intermodal-Logistics-Center-West-Haslet
DevelopmentIndustrialTexas

Joint Venture Breaks Ground on 1 MSF Industrial Project in Haslet, Texas

by Taylor Williams

HASLET, TEXAS — A joint venture between Kansas City-based NorthPoint Development, Olympus Ventures and a local family partnership has broken ground on a 1 million-square-foot industrial project in Haslet, about 25 miles north of Fort Worth. The project represents Phase I of a larger development known as Intermodal Logistics Center West, which is planned to feature some 8.4 million square feet of space across nine buildings and 1,000 acres. Building 1 of Intermodal Logistics Center West will feature a cross-dock configuration, 40-foot clear heights, 100 dock doors, four oversized ramp doors and parking for 750 cars and 194 trailers (expandable to 404). CBRE is the building’s leasing agent.

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Affordable HousingDevelopmentMichiganMidwestMixed-UseMultifamily

Oxford Cos., Crawford Hoying Receive State Approval for Arbor South Mixed-Use Project in Michigan

by Kristin Harlow

ANN ARBOR, MICH. — Oxford Cos. and Crawford Hoying have received final state approval from the Michigan Strategic Fund Board for Arbor South, a 20-acre mixed-use development planned for Ann Arbor’s south side. Located at 2845 S. State St. near Eisenhower Parkway, Arbor South will include more than 1,000 apartments and condominiums, including over 200 affordable housing units in partnership with the Ann Arbor Housing Commission. Plans also call for 100,000 square feet of ground-floor commercial space, an upscale hotel, parks, green spaces and gathering areas. Arbor South was approved via the largest brownfield tax recapture plan in city and county history, according to a release. It is moving forward under Ann Arbor’s new TC-1 zoning ordinance, designed to increase transit-corridor density outside downtown. The approval follows two years of planning, refinement and coordination with city officials, state leaders and project partners. Detroit-based Sachse Construction is the general contractor. The project team also includes Detroit-based architecture and design firm Lord Aeck Sargent and Ann Arbor-based civil engineering firm Midwestern Consulting. Pre-construction work is expected to begin this winter.  

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DevelopmentIndianaIndustrialMidwest

Venture One Breaks Ground on 1.2 MSF Distribution Facility for Amazon in Northwest Indiana

by Kristin Harlow

CROWN POINT, IND. — Venture One Real Estate has broken ground on a 1.2 million-square-foot build-to-suit distribution facility for Amazon at VenturePark 65 in Crown Point. The new facility will support Amazon’s distribution network across the Chicagoland and Northwest Indiana markets and is expected to create approximately 500 jobs. The project marks Chicago-based Venture One’s second development in Indiana. The project team includes Venture One as developer, Premier Design + Build Group as general contractor, Ware Malcomb as architect and Jacob & Hefner as civil engineer. Ryan O’Leary of KBC Advisors assisted Amazon in its site selection, and Brian Vanosky and Michael O’Leary of Lee & Associates represented Venture One.

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DevelopmentIllinoisIndustrialMidwest

Opus Begins Construction of 314,684 SF Spec Industrial Building in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Opus has begun construction on Opus Intermodal at Joliet, a 314,684-square-foot speculative industrial building on 39 acres in Joliet. The project site is at the northeast corner of Patterson and West Laraway roads, directly across the street from Union Pacific’s Global IV intermodal terminal. Plans call for a clear height of 36 feet, 31 dock doors, two drive-in doors, 209 trailer stalls and 214 car parking spaces. The building can accommodate up to two users. Opus is the developer and design-builder, working with Ware Malcomb as architect. Matthew Stauber and Steve Ostrowski of Colliers are marketing the buildings for lease. A groundbreaking ceremony is scheduled for Thursday, Oct. 1. The building is slated for completion in June 2027.

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The-Cliff-Green-Valley-Ranch-Henderson-NV
DevelopmentLoansNevadaRestaurantRetailWestern

IPA Arranges Joint Venture Equity for Cliff at Green Valley Ranch Adaptive Reuse Project in Henderson, Nevada

by Amy Works

HENDERSON, NEV. — IPA Capital Markets, a division of Marcus & Milichap, has arranged joint venture equity on behalf of VAC Development for The Cliff at Green Valley Ranch, an adaptive reuse redevelopment in Henderson. Jeremy Slocumb of IPA Capital Markets led the transaction. Upon completion, The Cliff at Green Valley Ranch will be Henderson’s first major open-air retail, dining and lifestyle development of its scale since 2004. The project will convert two obsolete office buildings, built in 2002 on 10 elevated acres at 2500-2550 Paseo Verde Parkway, into a 100,000-square-foot, Class A, pedestrian-friendly campus. The Cliff will feature 38 units ranging from 200-square-foot kiosks to a 16,000-square-foot Arhaus anchor, all organized around a 26,000-square-foot covered outdoor dining lounge. The project will emphasize experiential retail, chef-driven dining, wellness, art and community gathering space. Confirmed tenants include The Taco Stand, Lyte House, Barista Botanist and Killer Whale Creamery. Planned amenities include landscaped courtyards and breezeways, a central bar and outdoor lounge, covered patios, a food-kiosk alley, a children’s play area, public art and live music and performance zones. Deliveries will begin in second-quarter 2027, with first tenants opening in the second half of the year.

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