Saturday, July 19, 2025
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Development

DevelopmentGeorgiaRetailSoutheast

Ackerman & Co., Novare to Develop 13,275 SF Strip Retail Center in Metro Atlanta

by John Nelson

SUGAR HILL, GA. — Ackerman & Co. has formed a partnership with Novare Group to develop an unanchored retail center in Sugar Hill, a northeast suburb of Atlanta in Gwinnett County. The project will comprise two buildings spanning 6,035 square feet and 7,240 square feet adjacent to Novare’s 306-unit Conclave Sugar Hill multifamily community, which was delivered recently. Kelly Wilson of Ackerman Retail, a division of Ackerman & Co., will spearhead the leasing efforts for the project, which will be developed on a four-acre site on Hillcrest Drive. Ackerman Retail will target homegrown and regional restaurants, fast-casual eateries, boutiques and shops for the project, with flexible space options starting at 1,260 square feet.

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The-Logan-Nampa-ID
DevelopmentIdahoMultifamilyWestern

Thompson Thrift to Develop 264-Unit Multifamily Community in Nampa, Idaho

by Amy Works

NAMPA, IDAHO — Indiana-based Thompson Thrift is entering the Idaho market with the construction of The Logan, an apartment property in Nampa, approximately 20 minutes southwest of Boise. Construction is slated to begin this month with completion scheduled for winter 2025. Located on 12 acres at 2516 W. Karcher Road, The Logan will offer 264 one-, two- and three-bedroom apartments spread across three-story buildings. Units will feature stainless steel appliances, glass-top ranges, hardwood-style flooring, a walk-in shower and multiple smart home capabilities. Additionally, select apartments will feature cabinetry with soft-close doors, a deluxe closet system with shelving, premium lighting, a dry bar and advanced smart home capabilities. Private patios, balconies, yards and detached garage options will also be available. Community amenities will include an outdoor entertainment kitchen and grilling areas, a 24-hour fitness center, resort-style heated swimming pool, electric firepits with seating areas, a billiards and shuffleboard area, dog park, bike storage and a Starbucks Coffee bar. The property will also offer focus suites, community-wide Wi-Fi, an onsite service team, valet trash service and a user-friendly mobile app.

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4004-Kruse-Way-Pl-Lake-Oswego-OR
AcquisitionsDevelopmentHealthcareOfficeOregonWestern

Joint Venture Buys 59,865 SF Office Building Near Portland, Plans Outpatient Healthcare Conversion

by Amy Works

LAKE OSWEGO, ORE. — A joint venture between Evergreen Medical Properties and Bain Capital’s real estate team has acquired 4004 Kruse Way Place, an office building in Lake Oswego, from San Francisco-based Shorenstein Properties for an undisclosed price. The joint venture plans to convert the three-story, 59,865-square-foot building, which is currently operating as traditional office space, into an outpatient healthcare facility. At the time of sale, asset was 74 percent occupied with Providence Health & Services as the anchor tenant. Evan Kovac of JLL Capital Markets National Medical Properties and Buzz Ellis of JLL Pacific Northwest Advisory represented the seller and procured the buyer in the transaction.

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Avera-Baywood
DevelopmentIndustrialTexas

Avera Cos. to Develop 401,154 SF Industrial Project in Southeast Houston

by Taylor Williams

HOUSTON — Locally based firm Avera Cos. will develop a 401,154-square-foot industrial project in southeast Houston. Avera Baywood will be a front-load building that will be situated on a 34-acre site west of the Houston Ship Channel. Building features will include 36-foot clear heights, oversized truck courts and an ESFR sprinkler system. Completion of the project, which will be Avera’s 12th development in the southeast Houston submarket, is slated for late 2025.

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DevelopmentRestaurantRetailTexas

Marquette Cos. Receives Civic Approval for 20,000 SF Commercial Project in Houston

by Taylor Williams

HOUSTON — Marquette Cos., an Illinois-based multifamily developer, has received approval from the Houston Planning Commission for a 20,000-square-foot commercial project that will be located along the 2600 block of Keene Street near White Oak Music Hall. The new building is slated for a 2025 delivery and will be marketed to bars, restaurants, coffee shops and other retail users. The single-story building will be located across the street from Tempo at White Oak, Marquette’s 304-unit multifamily project that is nearing completion.

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Traer-Creek-Apts-Avon-CO
ColoradoDevelopmentLoansMultifamilyWestern

JLL Secures $73M in Construction Financing for Traer Creek Apartments in Avon, Colorado

by Amy Works

AVON, COLO. — JLL Capital Markets has secured $73 million in construction financing from Bank OZK for Traer Creek Apartments, a Class A multifamily development at 5471 E. Beaver Creek Blvd. in Avon. The borrowers are Prime West and Columnar Investments. Slated for completion in 2026, Traer Creek Apartments will feature 242 studio, one-, two- and three-bedroom floor plans with upmarket finishes, central conditioning and mountain views. Community amenities will include a fitness center, movement center and outdoor spa. The property’s four-story, three-building layout allows for open green areas and 9,200 square feet of communal facilities. Leon McBroom and Will Haass of JLL’s Debt Advisory team represented the borrower in the financing.

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West-Summit-Surprise-AZ
ArizonaDevelopmentIndustrialWestern

Mohr Capital Completes 707,380 SF Industrial Development in Surprise, Arizona

by Amy Works

SURPRISE, ARIZ. — Dallas-based Mohr Capital has completed the development of West Summit at Surprise, a Class A industrial project in Surprise. Situated on almost 47 acres within Summit Business Park, West Summit at Surprise offers 707,380 square feet across two Class A buildings, including the 453,960-square-foot Building 1 with 36-foot clear heights and 250,512-square-foot Building 2 with 32-foot clear heights. Each building offers 2,500 square feet of speculative office space, 50- by 56-foot column spacing, 3,000 amps of power, LED lighting, ESFR sprinklers, 60-foot speed bays and secured truck courts. Combined the properties provide 157 dock-high and eight grade-level doors and can accommodate parking for 706 automobiles and 225 trailers. Additionally, Building A offers rail capability to BNSF. Anthony Lydon, John Lydon and Kelly Royle of JLL will serve as leasing brokers for West Summit at Surprise.

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Data CentersDevelopmentIllinoisIndustrialMidwest

CyrusOne Breaks Ground on 446,000 SF Data Center in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — CyrusOne has broken ground on a two-building data center totaling 446,000 square feet in Aurora. The campus marks CyrusOne’s second in the city, the first of which is a three-building campus that opened in 2016. The new data center is part of the company’s broader investment strategy, selecting Illinois to expand its portfolio, with total capital investments in the state exceeding $1 billion.

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DevelopmentIllinoisMidwestMultifamily

Continental Properties Begins Development of 336-Unit Apartment Community in South Elgin, Illinois

by Kristin Harlow

SOUTH ELGIN, ILL. — Continental Properties has begun development of Authentix South Elgin, a garden-style apartment community with 336 units in South Elgin. Located at the northwest corner of Lancaster Road and McLean Boulevard, the property will offer studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, clubhouse, outdoor grill area, fitness center and dog park. Pre-leasing will begin in spring 2025, with move-ins expected in late summer 2025. Authentix Apartments, owned and operated by Continental Properties, is a national brand of residential communities offering garden-style apartments.

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Affordable HousingDevelopmentMidwestMultifamilyOhio

Pennrose Opens Phase I of Thatcher Flats Mixed-Income Housing Community in Cincinnati

by Kristin Harlow

CINCINNATI — Pennrose and Walnut Hills Redevelopment Foundation have opened Phase I of Thatcher Flats, a $27 million redevelopment project to transform a full city block in Cincinnati’s Walnut Hills neighborhood into 86 mixed-income rental units. The development team has also commenced construction on Phase II. The first phase consists of 50 affordable housing units across two buildings utilizing 9 percent Low-Income Housing Tax Credits (LIHTC). The $15.2 million development offers a mix of one-, two- and three-bedroom units for residents who earn 30 to 60 percent of the area median income — roughly $20,070 to $40,140 for a one-person household. Residents of both phases will have access to the community amenities in Phase I, including a community room, laundry facilities, fitness center and parking. The name Thatcher Flats was inspired by the history of the Lincoln Avenue Business district, which in the late-1800s and through the mid-1900s was a thriving African American business district. In 1933, Ernest and Georgia Thatcher, an entrepreneurial African American couple, moved to Cincinnati and created Thatcher’s Fish and Poultry on what is now Thatcher Flats. In addition to the LIHTC financing for Phase I, the project received funding from the City of Cincinnati and …

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