Development

TCC Leases Phase I, Plans Phase II of Plainfield Business Center in Metro Chicago

by Kristin Harlow March 3, 2026

PLAINFIELD, ILL. — Trammell Crow. Co. (TCC) has announced a full-building lease and plans for Phase II of Plainfield Business Center in Plainfield, about 40 miles southwest of downtown Chicago. RJW Logistics Group has leased Building 1, which totals 788,000 square feet. TCC plans to break ground on Building 2 in the second quarter. That building will also total 788,000 square feet. RJW is a retail-focused logistics and supply chain solutions provider. The Woodridge, Ill.-based company operates more than 16 distribution centers across Illinois, Texas and Pennsylvania. Dominic Carbonari of JLL represented RJW in its lease negotiations. Matt Mulvihill and Phil DeBoer of CBRE represented the landlord. Building 2, which is being built on a speculative basis, will sit on 46 acres and feature a clear height of 40 feet, 80 dock doors expandable to 156 and 211 trailer parking stalls. The site offers proximity to both I-55 and I-80. At full build-out, Plainfield Business Center will encompass more than 8 million square feet of industrial space. Harris Architects designed Plainfield Business Center, and Krusinski Construction Co. was the general contractor for Phase I. Kimley-Horn is the civil engineer.

March 3, 2026

Development Illinois Midwest Office

Skender Completes 230,000 SF Interior Construction of Invenergy Headquarters Expansion in Chicago

by Kristin Harlow March 3, 2026

CHICAGO — Skender has completed the 230,000-square-foot build-out of Invenergy’s One South Wacker Drive headquarters in Chicago. The developer, owner and operator of power infrastructure originally occupied floors 18, 19 and 20. Skender completed upgrades to those floors in addition to the demolition and full construction of five additional floors (14-17). The project team included Lumen Workplace as owner’s representative, Partners by Design as architect and Syska Hennessy as engineer. Skender completed the build-out and renovation in three phases over the course of 12 months. The open-office concept features a three-floor atrium stair, two roof decks, a large café and an 8,000-square-foot control center for managing global power markets and operations. Floor 15 now serves as the heart of the workplace with a new reception area and boardroom.

March 3, 2026

Affordable Housing Development Michigan Midwest Multifamily

Lockwood Cos. Opens 295-Unit Affordable Housing Community Near Ann Arbor

by Kristin Harlow March 3, 2026

PITTSFIELD TOWNSHIP, MICH. — Lockwood Cos. has opened Haverhill on Clark, a 295-unit affordable housing community located at the southwest corner of Clark and Golfside roads in Pittsfield Township near Ann Arbor. Haverhill on Clark represents a more than $76 million investment in Pittsfield Township and Washtenaw County. The community is located across from Washtenaw Community College and Trinity Health St. Joseph Mercy Hospital. Amenities include a pool, fitness center, gathering spaces, outdoor play structures, electric vehicle charging stations and pet-friendly accommodations.

March 3, 2026

California Development Industrial Top Stories Western

Cinespace Studios Opens New Soundstage Campus in Los Angeles

by John Nelson March 3, 2026

LOS ANGELES — Cinespace Studios, an owner-operator of soundstage facilities for the TV and film industry, has opened a new soundstage campus in Los Angeles. Situated in the Woodland Hills neighborhood, the new campus represents the sixth production hub worldwide for Cinespace, joining existing facilities in Atlanta; Chicago; Potsdam, Germany; Toronto; and Wilmington, N.C. “Los Angeles is where this industry was built, and where its future continues to be shaped,” says Eoin Egan, co-CEO of Cinespace Studios. “Opening a campus here has always been part of our long-term vision. While the market is navigating a period of transition, we believe deeply in the resilience of this city, the talent that defines it and the enduring demand for world-class production infrastructure.” Cinespace Studios Los Angeles comprises six 18,000-square-foot soundstages with 30-foot clear heights, as well as 72,000 square feet of production offices and additional ancillary spaces. A ribbon-cutting ceremony was held yesterday with members of Cinespace Studios, Los Angeles Mayor Karen Bass and representatives from the California Governor’s office in attendance. The new campus is opening with an active production already underway — a thriller movie called “Nightwatching” — underscoring early demand for the new stages. “This campus clearly understands what productions …

March 3, 2026

Acquisitions Development Retail Texas

Asana Partners Acquires 197,105 SF Shopping Center in Austin, Plans Renovation

by Taylor Williams March 2, 2026

AUSTIN, TEXAS — Charlotte-based investment and development firm Asana Partners has acquired The Arboretum, a roughly 197,105-square-foot shopping center in the Great Hills neighborhood of Austin, with plans to renovate the property. Tenants include Amy’s Ice Creams, Ballard Designs, Chico’s, Lovesac, Pottery Barn, Cava, Teapioca Lounge, Soma and Hanara Sushi & Grill. Asana plans to reconfigure commons areas to support live music and pop-up retail, establish new patios for outdoor dining and replace storefront signage. Sitework for the renovation will begin this summer. Completion is slated for early 2027.

March 2, 2026

Development Industrial Nevada Western

EBS Realty Breaks Ground on 1.3 MSF Apex Ridge Logistics Park in North Las Vegas

by Amy Works March 2, 2026

NORTH LAS VEGAS, NEV. — EBS Realty, along with its investment partner Penwood Real Estate Investment Management, has broken ground on Apex Ridge Logistics Park, a speculative campus in North Las Vegas. Totaling more than 1.3 million square feet on 90 acres, the asset will feature a 755,628-square-foot building and a 602,377-square-foot building. Situated within the Apex/North Las Vegas submarket, the buildings will offer flexible designs to cater to a variety of users, including e-commerce, manufacturing and distribution.

March 2, 2026

Development Multifamily New York Northeast Office

GFP Receives $191.5M in Financing for Office-to-Residential Conversion Project in Lower Manhattan

by Taylor Williams March 2, 2026

NEW YORK CITY — GFP Real Estate has received $191.5 million in financing for the office-to-residential conversion of 40 Exchange Place, a historic 300,000-square-foot building in Lower Manhattan’s Financial District. Upon completion, the 20-story converted building will include 382 affordable and market-rate apartments, as well as ground-floor retail space. In addition to the loan, the project will be backed by federal and state historic rehabilitation tax credits as well as a 35-year 457-m tax abatement, a New York City incentive designed to support office-to-residential conversions. Jordan Roeschlaub, Chris Kramer and Tim Polglase of Newmark arranged the financing through Derby Lane. A construction timeline was not announced.

March 2, 2026

Development Industrial Kansas Midwest

Davcon Aviation to Build $100M MRO Development at Salina Regional Airport in Kansas

by Kristin Harlow March 2, 2026

SALINA, KAN. — Davcon Aviation has unveiled plans for a phased development program at Salina Regional Airport in Kansas. Cushman & Wakefield is the leasing agent for the project. In collaboration with the Salina Airport Authority, the project will be anchored by a new Class A maintenance, repair and overhaul (MRO) hangar complex. At full build-out, the development will include more than 300,000 square feet of aviation facilities, representing a capital investment of $100 million. The project follows Davcon’s recently announced developments at Wichita’s Dwight D. Eisenhower National Airport and Topeka Regional Airport. Jerry Noble, Adam Madison, Kyle Stickles, Robb Vallier and Faith Kruckenberg of Cushman & Wakefield will serve as the leasing team. Davcon Aviation Partners LLC is a national airport hangar development company based in Mesa, Ariz.

March 2, 2026

Development Industrial New York Northeast Self-Storage

Ardent, Ironwood Complete 950-Unit Self-Storage Facility in Copiague, New York

by Taylor Williams March 2, 2026

COPIAGUE, N.Y. — A partnership between Atlanta-based developer The Ardent Cos. and Ironwood Development Partners has completed a 950-unit self-storage facility in Copiague, located on Long Island. Extra Space Storage will operate the facility, which spans 108,201 square feet, though it is unclear if that figure refers to gross or net rentable square footage. Park East Construction served as the general contractor for the project. Michael Sudano Architect PC designed the facility, and R&M Engineering acted as the civil engineer. A formal opening took place in mid-December.

March 2, 2026

Development Loans Mixed-Use Texas

Mark IV Capital Receives $86M Construction Loan for Metro Austin Mixed-Use Project

by Taylor Williams February 27, 2026

ROUND ROCK, TEXAS — California-based Mark IV Capital has received an $86 million construction loan for Phase I of The District, a mixed-use project that will be located in the northern Austin suburb of Round Rock. The site is adjacent to the headquarters campus of Dell, and Phase I of The District will feature a 316-unit apartment complex that will be known as Origin at The District and that will include 23,042 square feet of ground-floor retail and restaurant space. Units will come in studio, one- and two-bedroom floor plans, and amenities will include a pool, fitness center, clubhouse lounge and outdoor entertainment spaces. Phase I will also include a 40,750-square-foot food-and-beverage plaza that will comprise six buildings with tenant spaces ranging in size from 1,500 to 11,750 square feet. Vertical construction of Origin is now underway, and completion of Phase I is slated for early 2028. George Smith Partners arranged the financing through BDT & MSD Partners and an affiliate of global private equity firm Apollo.

February 27, 2026

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