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Development

8300-Douglas-Dallas
DevelopmentMixed-UseTexas

JLL Arranges Construction Debt, Joint Venture Equity for Dallas Mixed-Use Project

by Taylor Williams

DALLAS — JLL has arranged undisclosed amounts of construction debt and joint venture equity for 8300 Douglas, a mixed-use project that will be located in the Preston Center submarket of Dallas. Designed by HKS Architects, 8300 Douglas will consist of a 12-story, 300,000-square-foot office building that will be the future regional headquarters of Fifth Third Bank; a 17-story, 147-unit apartment building; 24,000 square feet of retail and restaurant space; and a 35,000-square-foot rooftop park. RAMROCK Real Estate is leading development of 8300 Douglas in partnership with Lincoln Property Co. and Willow Bridge Property Co. Mark Gibson, Jim Curtin, John Rose, Clint Coe, Ryan Pollack and Campbell Swango of JLL structured both components of the capitalization.

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DevelopmentIndustrialTexas

Urban Logistics Realty to Develop Two Industrial Projects Totaling 341,000 SF in North Houston

by Taylor Williams

HOUSTON — Urban Logistics Realty will develop two industrial projects totaling 341,000 square feet in North Houston. Urban NXS Fallbrook will be a 182,400-square-foot, cross-dock industrial building, and Urban NXS West will be a 158,600-square-foot, front-load building. Urban Logistics Realty is developing both projects in a joint venture with Principal Asset Management. First United Bank & Trust is financing construction, which is slated to begin before the end of the summer and to be complete in the second quarter of 2027.

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DevelopmentHealthcareTexas

Hoar Construction Breaks Ground on 32,000 SF Medical Office Building in East Austin

by Taylor Williams

AUSTIN, TEXAS — Alabama-based general contractor Hoar Construction has broken ground on Colony Park Health & Wellness Center, a 32,000-square-foot medical office building in East Austin. Designed by HKS Architects, the four-story building will house the utilities and mechanical equipment on the first floor, a pharmacy, lab and kitchen on the second floor, patient care rooms on the third floor and a dental office on the fourth floor. Central Health is the owner. Construction is slated for a summer 2027 completion.  

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DevelopmentFloridaHospitalityMultifamilySoutheast

Partnership Breaks Ground on Apartment Tower, Marriott Hotel in Downtown West Palm Beach

by John Nelson

WEST PALM BEACH, FLA. — A partnership comprising LD&D, IGEQ and FrontRange Capital Partners has broken ground on a 21-story apartment tower and hotel in downtown West Palm Beach. The properties, the 181-unit Alida Residences and the 112-room Tribute Portfolio hotel by Marriott, will be developed simultaneously as separate residential and hospitality properties. The developers assembled the three parcels for the two buildings in 2019. The site is located directly adjacent to a Brightline station and near the future campus for Vanderbilt University. Alida Residences will offer a mix of studio, one-, two- and three-bedroom units ranging in size from 500 to 2,000 square feet, as well as a rooftop pool deck on the 21st floor. Both Alida Residences and the Tribute Portfolio hotel by Marriott are expected to open in 2028.

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AcquisitionsAffordable HousingDevelopmentMultifamilyOfficeSoutheastVirginia

Finmarc Sells Office Building, Land in Northern Virginia to Pulte Homes for $26.4M

by John Nelson

CHANTILLY, VA. — Finmarc Management Inc. has sold an 83,300-square-foot office/flex building and an adjacent 6.4-acre parcel within Park East Corporate Center in Chantilly, about 28 miles west of Washington, D.C. The Bethesda, Md.-based investment company sold the parcels, which total 14 acres, to Pulte Homes for approximately $26.4 million. The Atlanta-based homebuilding giant plans to develop 183 homes on the sites comprising 126 townhomes, 32 condos and 25 affordable and workforce dwelling units. Brendan May and Paul Norman of Cushman & Wakefield represented Finmarc in the transaction. Aaron Rosenfeld of Kelley Drye & Warren LLP provided legal services to Finmarc.

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DevelopmentIndustrialMidwestOhio

Peak Construction to Build 305,480 SF Spec Industrial Building in Union, Ohio

by Kristin Harlow

UNION, OHIO — Scannell Properties has selected Peak Construction Corp. to build Interstate Aviation Hub in Union near Dayton. The 305,480-square-foot speculative industrial building will feature a clear height of 36 feet, 34 docks, two drive-in doors, 2,755 square feet of office space and parking for 130 cars and 83 trailers. The project team includes architect Ware Malcomb and civil engineer Arcadis. Completion is slated for the second quarter of 2027.

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Catalina-Tucson-AZ
ArizonaDevelopmentMultifamilyStudent HousingWestern

P3 Breaks Ground on 1,300-Bed Residence Hall Development at University of Arizona

by Amy Works

TUCSON, ARIZ. — A public-private partnership (P3) between the University of Arizona, Mortenson and Mortenson Development has broken ground on The Catalina, a 1,300-bed residence hall project on the institution’s campus in Tucson. The community is being developed utilizing tax-exempt financing through a partnership with the Collegiate Housing Foundation and RBC Capital Markets. The nine-story development will offer suite-style units alongside a dining hall upon completion, which is scheduled for fall 2028. Further details on the project were not released. 

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Tobin-Estates-San-Antonio
DevelopmentMultifamilyTexas

Rosewood Begins Leasing 359-Unit Multifamily Project in San Antonio

by Taylor Williams

SAN ANTONIO — Dallas-based Rosewood Property Co. has begun leasing a 359-unit multifamily project in the Alamo Heights area of San Antonio that represents Phase III of a larger development known as Tobin Estates. In addition to the 265 apartments that will be housed in four-story wraparound buildings, Phase III features 94 units with private garages within two four-story buildings. Units come in one-, two- and three-bedroom floor plans, and amenities include a pool, indoor and outdoor fitness centers, resident lounge and a rooftop deck. Project partners included Provident General Contractors, WDG Architecture, civil engineer Westwood and construction lender InterBank. Construction began in May 2024. Information on starting rents was not disclosed.

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DevelopmentIndustrialTexas

HLCI Completes 254,186 SF Industrial Project in Northwest Houston

by Taylor Williams

HOUSTON — Holt Lunsford Commercial Investments (HLCI) has completed Par 1960, a two-building, 254,186-square-foot industrial project in northwest Houston. Building 1 spans 204,375 square feet and features 32-foot clear heights and a front-load configuration. Building 2 totals 49,811 square feet and features 28-foot clear heights and a rear-load configuration. Cushman & Wakefield is the leasing agent for the buildings. Construction began in late 2024.

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DevelopmentIndustrialSouth CarolinaSoutheast

Red Rock to Develop 519,792 SF Industrial Facility Near Columbia, South Carolina

by John Nelson

GASTON, S.C. — Red Rock Developments plans to develop a new 519,792-square-foot industrial facility at Sandy Run Industrial Park, a 760-acre campus in Gaston, a Columbia suburb. Situated on a 54-acre site in Calhoun County along I-26, the cross-dock facility will be built on a speculative basis and include 40-foot clear heights, 185-foot truck courts, 98 dock-high doors, four drive-in doors, an ESFR sprinkler system, speculative office space, expandable automobile and trailer parking and an 8-inch concrete slab. Red Rock has tapped Chuck Salley, Thomas Beard and John Peebles of Colliers to market and lease the facility, which is expected to break ground this quarter. Existing and committed users at Sandy Run include Zeus, Smart Warehousing and Blanchard Machinery.

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