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DevelopmentFloridaMultifamilySoutheast

Kolter Multifamily Begins Construction on 386-Unit Apartment Community in Delray Beach, Florida

by John Nelson

DELRAY BEACH, FLA. — Kolter Multifamily, a residential development affiliate of the Kolter Group, has begun construction on Alton Delray, a 386-unit apartment community located in South Florida between Fort Lauderdale and West Palm Beach. The development will consist of multiple six-story residential buildings at 2101 S. Congress Ave. in Delray Beach. Amenities will include a pool and a dog park. K olter Multifamily previously secured $92 million in construction financing from U.S. Bank for the project, according to South Florida Business Journal. The media outlet also reported that Kolter Multifamily was able to develop on the industrial-zoned land under Florida’s Live Local Act. Initial delivery of units at Alton Delray is slated for late 2027. 

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DevelopmentIdahoMixed-UseRestaurantRetailWestern

CenterCal Properties Unveils Plans for Expansion of 1 MSF Mixed-Use Development Near Boise, Idaho

by Amy Works

MERIDIAN, IDAHO — CenterCal Properties has unveiled plans for the expansion of The Village at Meridian, a 1 million-square-foot mixed-use development located in Meridian, roughly 10 miles west of downtown Boise. Phase II of the project will encompass 80,000 square feet of commercial space across six new buildings. Tenants that have committed to Phase II include Vuori, Alo, Kendra Scott, Tecovas, Gorjana, solidcore and Tempur-Pedic, along with Flower Child and Paris Baguette. Additional tenants will be announced as leasing activity continues. Initial openings are expected in September 2026, while completion of Phase II is anticipated for February 2027.

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DevelopmentLeasing ActivityRetailSoutheastVirginia

KLNB Arranges Leases With Aldi, Other Retailers at Retail Development in Stafford, Virginia

by John Nelson

STAFFORD, VA — Mid-Atlantic commercial real estate brokerage firm KLNB has arranged multiple retail leases for the Market at Austin Ridge, a shopping center underway in Stafford. The new leases are with Aldi, Texas Roadhouse, Sheetz and Flagship Carwash. Dimitri Georgelakos and Veronica Kamara of KLNB worked on behalf of the undisclosed landlord in the lease negotiations. 

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DevelopmentMidwestMissouriRetail

HDA Completes Design of 23,000 SF Nissan Dealership in Herculaneum, Missouri

by Kristin Harlow

HERCULANEUM, MO. — Architect HDA has completed the AutoCenters Nissan in Herculaneum, a suburb of St. Louis. The 23,000-square-foot project features 8,500 square feet of office, administrative and customer-facing space complemented by 14,500 square feet of service, parts and detail areas. A full curtainwall system wraps the showroom, and the signature red Nissan entry tablet serves as a focal point.

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DevelopmentLoansMultifamilySeniors HousingTexas

Nuveen Provides $38.6M in C-PACE Financing for Seniors Housing Development in Central Texas

by Taylor Williams

HORSESHOE BAY, TEXAS — Nuveen Green Capital has provided $38.6 million in Commercial Property Assessed Clean Energy (C-PACE) financing for the development of a new seniors housing community in Horseshoe Bay, roughly 50 miles northwest of Austin. The borrower and developer is Falcon Senior Housing. Dubbed The Statesman at Horseshoe Bay, the community will total 313,714 square feet upon completion and will feature 180 independent living, assisted living and memory care units. Financing for the project also includes EB-5 immigration investment funds.

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DevelopmentIndustrialKentuckySoutheast

Hunt Midwest Delivers 505,134 SF Industrial Building in Metro Louisville

by John Nelson

SIMPSONVILLE, KY. — Kansas City-based Hunt Midwest has delivered the first building at Simpsonville 64 Logistics Park, an industrial park in metro Louisville that can accommodate up to 3.3 million square feet of logistics space. The first building is Logistics II, a 505,134-square-foot cross-dock facility that Hunt Midwest says is the only 500,000-square-foot or larger facility available in the Louisville market. Logistics II features 36-foot clear heights, 58 dock doors (expandable to 102), four drive-in doors, 200-foot truck courts, 320 car parking spaces, 135 trailer parking spaces and build-to-suit office space. Hunt Midwest will deliver the second building in the park, the 270,098-square-foot Logistics I rear-load building, by August. Simpsonville 64 Logistics Park sits in Shelby County, roughly 25 miles east of Louisville via I-64. Doug Butcher and Alex Grove of CBRE are handling the leasing assignment for Logistics I and II. The design-build team includes H2B Architects, Mindel Scott (civil engineer) and Evans General Contractors.

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AcquisitionsArizonaDevelopmentIndustrialWestern

Scannell Properties Buys 129 Acres in Buckeye, Arizona for Development of Summit Logistics Center

by Amy Works

BUCKEYE, ARIZ. — Scannell Properties has acquired 129 acres at the northwest corner of Southern Avenue and Rooks Road in Buckeye from Scottsdale-based Arizona Land Consulting for the development of Summit Logistics Center. The sales price was $32.5 million. Mike Haenel, Andy Markham, Phil Haenel, Foster Bundy, Justin Smith and Jordan Sims of Cushman & Wakefield represented the buyer and seller in the transaction. Brian Lee of Cushman & Wakefield also represented the seller. Scannell Properties plans to break ground on Phase I of the project in the third quarter. The first phase will comprise a 1.1 million-square-foot industrial facility designed for large-scale logistics and distribution users. The building will feature 40-foot clear heights, 3,500 square feet of office space, 240 dock-high doors and four ground-level doors.

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Foothill-Village-SLC-UT
DevelopmentRetailUtahWestern

Asana Partners Invests $25M for Redevelopment of Retail Center in Salt Lake City

by Amy Works

SALT LAKE CITY — Asana Partners has invested $25 million to redevelop Foothill Village, a 260,000-square-foot retail center located in the East Bench neighborhood of Salt Lake City. The center, which is anchored by grocer Dan’s Fresh Market, features a new central plaza, open-air breezeways, six new tenants and two levels of retail shops. New tenants that will be joining the property later this year include Magnolia Bakery, Zao Asian Café and MD Hyperbaric. JD Flannel Donuts, Mo’ Bettahs and fitness concept [solidcore] have already opened at the center. The final phase of construction, which will be executed in partnership with Salt Lake City in order to connect the center to Curtis Park, will be completed this month.

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AcquisitionsDevelopmentHospitalityMichiganMidwest

CooperWynn Capital Arranges Financing for Acquisition, Rebrand of 203-Key Detroit Hotel

by Kristin Harlow

DETROIT — CooperWynn Capital has arranged financing, including bridge debt and joint venture equity, for the acquisition and conversion of the 203-key DoubleTree Suites Detroit Downtown Fort Shelby hotel. The borrower is 6PM Hospitality Partners LLC. The financing includes a roughly $14.5 million preferred equity investment from Peachtree Group as part of a total capitalization of approximately $42 million.  The property, which is listed on the National Register of Historic Places, will be rebranded as an Embassy Suites by Hilton and will undergo extensive renovations to guestrooms, public spaces, food-and-beverage outlets and meeting spaces. The hotel is expected to reopen later this year as a 204-key, all-suite hotel that will be managed by 6PM Hospitality Partners. The asset was originally constructed in 1917 and designed by renowned Detroit architect Albert Kahn. The hotel underwent a restoration in 2008 in connection with its repositioning under the DoubleTree by Hilton brand, followed by a refresh in 2023.

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Affordable HousingDevelopmentMultifamilyTexas

April Housing Reopens Three Affordable Housing Communities in East Austin Following $60M Rehabilitation

by Taylor Williams

AUSTIN, TEXAS — April Housing, Blackstone Real Estate’s affordable housing division, has reopened three affordable housing communities totaling 654 units in East Austin. Working in partnership with the Housing Authority of the City of Austin (HACA), April Housing completed roughly $60 million of renovations across the following properties: Heritage Point, a 240-unit senior living community for residents earning between 30 and 80 percent of the area median income (AMI); Eagle’s Landing, a 240-unit multifamily property for those earning 60 percent or less of AMI; and Village at Collinswood, a 174-unit senior living community for residents earning 60 percent or less of AMI. All three communities now offer updated units interiors, including bathrooms, kitchens, fixtures and appliances, as well as upgraded building systems and amenity spaces.

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