HACKENSACK, N.J. — Locally based developer Plaxsun Properties has completed a 51,750-square-foot medical office building that is located directly across from the Hackensack University Medical Center campus in Hackensack. The facility features three floors of medical office space atop three levels of covered onsite parking, high-capacity HVAC and plumbing systems and multiple lobbies with elevator access. Newmark has been tapped as the leasing agent.
ARVADA, COLO. — A joint venture between RangeWater Real Estate and TMGRI, a subsidiary of The Meridian Group, has acquired a 16.7-acre site in northwest Arvada within Candelas, a master-planned community. Slated to break ground in September, the development will include 324 apartment residences with one- and two-bedroom floor plans ranging from 688 square feet to 1,196 square feet, along with 56 townhomes with two- and three-bedroom layouts ranging from 1,246 square feet to 1,823 square feet. Interior features will include open floor plans with nine-foot ceilings, chef-inspired kitchens with Shaker cabinetry, black granite and white quartz countertops, stainless steel appliances and large balconies. Additionally, townhomes will offer back patios and garages. Community amenities will include a standalone clubhouse featuring coworking space, a residents’ lounge, garden room and private offices. Other amenities will include an indoor/outdoor fitness club, resort-style pool and spa with outdoor dining and grilling areas, a dog park, fire pits and a community garden. Completion is scheduled for April 2028.
NEW YORK CITY — Locally based firm Stav Equities will develop a 16-unit apartment building at 917 Home St. in The Bronx. The property will have 12 one-bedroom units and four studios that will be rented at market rates. Christian Dedvukaj of Princeton Realty Group represented both Stav Equities and the seller, the Saez Family, in the off-market acquisition of the land. The parcel sold for $715,000. Construction is expected to be complete next spring.
MOSCOW MILLS, MO. — Contegra Construction has completed a 120,000-square-foot manufacturing facility for Elite Tool in Moscow Mills, a northern suburb of St. Louis. The project replaces the company’s 70,000-square-foot manufacturing operation. The $20 million expansion is expected to create 30 new jobs. Located at 609 Tropicana Village Drive, the property features a 110,000-square-foot manufacturing zone, 8,000-square-foot office and 2,000 square feet of mezzanine storage. The facility includes various power and mechanical infrastructure as well as three dock doors, an oversized drive-in door and parking for 90 vehicles. Elite Tool is a lean contract manufacturer for the aerospace, commercial and defense industries.
BATAVIA, OHIO — Prologis has broken ground on an expansion project for MillerKnoll at 3001 Afton Drive in Batavia near Cincinnati. The logistics project will add 112,320 square feet to the existing 617,760-square-foot warehouse and distribution facility, giving MillerKnoll the space it needs to support its growing Design Within Reach home furnishings business across North America. An estimated 30 full-time jobs will be created once the development is complete, bringing the total number of jobs at the location to approximately 150 employees. Hemmer Construction Co. is the general contractor.
CHARLESTON, S.C. — Asana Partners is redeveloping Pacific Box, a 221,600-square-foot mixed-use development on Charleston’s Upper Peninsula. The redevelopment — which will include the conversion of 26,000 square feet of office space into lifestyle retail and restaurants — is already underway. Completion of the project is scheduled for the second quarter of 2026. Existing tenants, including Edmund’s Oast Brewing Co. & Taproom and Rancho Lewis, will remain open throughout the redevelopment process. Spanning 10 acres along King Street, the newly converted space will include a 6,000-square-foot marquee restaurant space, exterior upgrades, new retail façades, improved central courtyard and turf areas, a children’s play area, a venue for year-round programming, the addition of covered patio for dining and retail and increased parking options. Lucy Butler of Thrift CRES handles retail leasing at Pacific Box, and Brian Connolly of JLL handles office leasing.
Alloy, Vistria Obtain $535M Construction Financing for 62-Story Mixed-Use Tower in Downtown Brooklyn
NEW YORK CITY — Alloy Development and The Vistria Group have obtained $535 million in construction financing for One Third Avenue, a 62-story mixed-use tower that marks the second and final phase of the Alloy Block development in downtown Brooklyn. Rising 730 feet, the project will include 583 market-rate and affordable housing units along with retail and office space. Vistria will invest more than $120 million of equity to capitalize the development, and Kayne Anderson Real Estate is providing $375 million of debt. Chris Peck, Nicco Lupo and Peter Rotchford of JLL managed the capital raise. One Third Avenue marks the tallest Passive House building in the world, according to the developers. Passive House is a building standard for dramatically reducing energy use while improving indoor air quality. Elements of the Passive House design include an airtight, well-insulated building envelope, filtered fresh air and a low carbon footprint. The development’s residential and office spaces will share energy resources to minimize waste heat. One Third Avenue joins the two projects in the first phase of Alloy Block — 505 State Street, a 44-story, 441-unit apartment tower and New York City’s first all-electric skyscraper, and 489 State Street, the first two public schools designed to …
HUMBLE, TEXAS — Local developer BHW Capital has broken ground on Clayton at Tour 18, a 288-unit multifamily project that will be located in the northeastern Houston suburb of Humble. The site is adjacent to the Tour 18 golf course. Units will come in one- and two-bedroom formats and will feature stainless steel appliances and built-in workspaces. Amenities will include a pool, fitness center, outdoor biergarten, pet park and a putting green. Mucasey & Associates is the project architect, and Blazer Building Southwest is the general contractor. Southside Bank is financing construction, which is expected to be complete in late 2027.
PEARLAND, TEXAS — Locally based developer Welcome Group has delivered Crossroads at Pearland, an 88,670-square-foot industrial project located on the southern outskirts of Houston. The site spans 4.8 acres and includes frontage along Beltway 8. The building features 30-foot clear heights, 15 dock-high doors and two drive-up ramps. Frost Bank financed construction of the facility, which is now roughly 30 percent leased to satellite communications services provider Speedcast.
NEWBURGH, N.Y. — Brookfield Properties is underway on construction of a 422,000-square-foot speculative industrial project in Newburgh, about 65 miles north of New York City. The site of Newburgh South Logistics Center spans 49 acres at 70 South St. The LEED-certified property will feature 75 loading docks and 190-foot truck court depths, as well as the capacity to support a single or multiple tenants. Resource Realty of Northern New Jersey has been appointed as the leasing agent. Completion is slated for next fall.