Development

Creation Breaks Ground on 144,885 SF Source Logistics Center in Tempe, Arizona

by Amy Works February 18, 2025

TEMPE, ARIZ. — Creation has started construction of Source Logistics Center, a Class A industrial facility in Tempe. The company acquired the 15-acre site at the southeast corner of Warner Road and Hardy Drive in partnership with CrossHarbor Capital Partners as investor. The 144,885-square-foot project will feature a clear height of 32 feet, abundant power and 6 acres of contiguous yard space allowing for flexible storage or excess passenger vehicle, trailer or box-truck parking. The property also offers access to Interstate 10 and Loop 101, as well as Union Pacific rail spur capabilities. LGE Design Build is serving as architect and general contractor for Source Logistics Center, which is slated for completion in mid-2026. Cooper Fratt, John Werstler and Tanner Ferrandi of CBRE are handling leasing efforts for the project.

February 18, 2025

Affordable Housing California Development Multifamily Western

IHO Opens Affordable Housing Complex for Transitional Age Youth in Riverside, California

by Amy Works February 18, 2025

RIVERSIDE, CALIF. — Innovative Housing Opportunities (IHO) has opened The Aspire, an affordable residential community in Riverside. Situated at the corner of Third Street and Fairmount Boulevard, The Aspire features 33 fully furnished units for transitional age youth, including young people aging out of the foster care system. The furnished one-bedroom units are approximately 450 square feet and include a patio or deck. Community amenities include an interior courtyard, roof terrace, communal living room and public art. Additionally, The Aspire is in a walkable neighborhood close to transit, employment, recreation, retail and cultural options. The Aspire will offer onsite education services and programs, provided by the California Family Life Center. Riverside Community College District is also offering academic, career and financial aid counseling, as well as job placement assistance. The $25 million development was funded with Housing Authority funds from the City of Riverside, project-based housing choice vouchers from Riverside County and California’s Housing and Community Development/Multifamily Housing Program.

February 18, 2025

Affordable Housing Development Multifamily Northeast

WinnCos. Breaks Ground on $47M Affordable Housing Project in Braintree, Massachusetts

by Taylor Williams February 18, 2025

BRAINTREE, MASS. — Developer WinnCos. has broken ground on The Eastwalk, an affordable housing project in the southern Boston suburb of Braintree that is valued at $47 million. Of the development’s 56 total units, 30 will be reserved for households earning 60 percent or less of the area median income (AMI). Another 20 residences will be earmarked for renters earning 120 percent or less of AMI, and the remaining six units will be rented at market rates. Residences will come in one-, two- and three-bedroom floor plans, and amenities will include a community room with a kitchen, onsite resident workspace, fitness room and a patio lounge with grills. The Eastwalk is expected to be available for occupancy in summer 2026. WinnCos. is developing the project in partnership with Arch Communities, with Webster Bank financing construction. The capital stack also includes both state- and federal-issued Low-Income Housing Tax Credits, and the investors of those securities are U.S. Bank and Boston Financial, respectively.

February 18, 2025

Development Industrial Massachusetts Northeast

Partnership Completes 82,790 SF Warehouse in Peabody, Massachusetts

by Taylor Williams February 18, 2025

PEABODY, MASS. — A partnership between two local development and investment firms, Oliver Street Capital and Bain Capital Real Estate, has completed an 82,790-square-foot warehouse in Peabody, a northern suburb of Boston. The project is a build-to-suit for Christianbook, and the site is contiguous to the literary retailer’s existing headquarters. Locally based design-build firm Dacon Corp. handled the architectural and general contracting aspects of the partnership in conjunction with Fraser Project Management.

February 18, 2025

Development Mixed-Use Texas

Centennial Unveils New Plans for Mixed-Use Redevelopment of Plano Mall

by Taylor Williams February 17, 2025

PLANO, TEXAS — Dallas-based Centennial has unveiled new and revised redevelopment plans for The Shops at Willow Bend, a 1.4 million-square-foot regional mall in Plano, to include townhomes-style attached residences and detached single-family homes. Centennial, which initially acquired the property in 2022 in partnership with Cawley Partners, had previously unveiled plans to convert the enclosed center to a mixed-use property called The Bend. Centennial’s late-2024 acquisition of the Macy’s building at the center — following the retailer’s announcement that the store would be closing — has enabled the inclusion of additional uses, according to the company. Under the plans, a portion of the enclosed mall’s footprint will be demolished to make room for multifamily housing options, a hotel, neighborhood dog park and green spaces for community activities. The Bend will also continue to offer residents and visitors a mix of retail, dining, fitness, and entertainment options. The Plano City Council must still approve the project, although the Plano Planning & Zoning Committee has already signed off on the updated plans. Construction is expected to begin later this year pending city council approval.

February 17, 2025

Development Florida Mixed-Use Office Southeast

Partnership Receives Civic Approval for Mixed-Use Redevelopment of Office Depot Headquarters in Boca Raton, Florida

by John Nelson February 17, 2025

BOCA RATON, FLA. — A partnership between BH Group, PEBB Enterprises and Related Group has received site plan approval from the Boca Raton City Council for the mixed-use redevelopment of 6600 N. Military Trail, a 405,000-square foot property in Bacon Raton that serves as Office Depot’s headquarter campus. BH Group and PEBB will begin demolition on an existing office tower to start the construction of an eight-story building with 500 apartments, nearly 43,000 square feet of retail and restaurant space and a 37,000-square-foot fitness facility. Two existing office buildings will remain onsite, according to the development team. Office Depot recently consolidated its office footprint at the campus but will remain onsite for the foreseeable future, according to local media outlets.

February 17, 2025

Development Healthcare South Carolina Southeast

Frampton Construction Breaks Ground on 54,000 SF MUSC Medical Facility in Bluffton, South Carolina

by John Nelson February 17, 2025

BLUFFTON, S.C. — Frampton Construction has broken ground on a new 54,000-square-foot medical office building for the Medical University of South Carolina (MUSC) in Bluffton. Located at 700 Buckwalter Towne Blvd., MUSC Health Bluffton Medical Pavilion will house a variety of medical specialties, including primary and urgent care, vascular treatment, oncology and pediatrics. The facility will include three floors — which will span 18,000 square feet each — a sleep lab, cardiovascular lab, chemotherapy compounding pharmacy, an instrument sterilization room, exam rooms and telehealth stations, lead-lined X-ray facilities, offices, conference rooms and a break room and a phlebotomy corridor with four blood drawing stations. Additional safety features of the facility will include a large registration area with clear sight lines, an employee entry vestibule with badge access and a negatively pressurized compounding pharmacy. The building’s exterior will include a canopied patient drop-off area, 259 parking spots, seven additional ADA-compliant parking spaces and a mobile MRI trailer support pad. Completion of the project is slated for spring 2026. The design-build team includes Novus Architects (architect), Moore Lindner Engineering (structural engineer), Cranston Engineering (civil engineer) and DWG Inc. (MEP engineer). Additionally, Revit and Navisworks Manage will coordinate virtual design and MEPF (mechanical, …

February 17, 2025

California Development Loans Restaurant Retail Western

Partnership Receives $61.5M in Refinancing for West Harbor Waterfront Project in Los Angeles

by Amy Works February 17, 2025

LOS ANGELES — A partnership between the City of Los Angeles, the Port of Los Angeles, Jerico Development and The Ratkovich Co. has received $61.5 million for the recapitalization of West Harbor, a waterfront retail development at 612-1422 S. Harbor Blvd. in Los Angeles’ San Pedro neighborhood. The recapitalization will fund the completion and stabilization of the dining, entertainment and retail project, which is adjacent to the Port of Los Angeles and more than 80 percent pre-leased. Spanning 42 acres, West Harbor offers over one mile of water frontage, 117,205 square feet of leasable building area and 204,000 square feet of ground area, as well as a proposed 6,200-seat amphitheater. West Harbor is slated to open in phases beginning in late 2025. Bill Fishel, Wyatt Strahan, Alethia Halamandaris, Broderick Flagg and Anna Sporrong of Newmark arranged the financing that was structured with both a senior loan and subordinate C-PACE financing, which will fund sequentially behind the existing C-PACE lender. The new lender for the project is Oceanview Life and Annuity Co., an affiliate of Bayview Asset Management.

February 17, 2025

California Development Industrial Western

Partnership Delivers 163,000 SF Harbor Logistics Center in Santa Ana, California

by Amy Works February 17, 2025

SANTA ANA, CALIF. — Kearny Real Estate Co. and Dune Real Estate Partners have completed the construction of Harbor Logistics Center, a Class A warehouse and distribution complex at 3100 S. Harbor Blvd. in Santa Ana. The project was delivered nine months after demolition of the site’s existing 200,000-square-foot office campus. Accessible from three public streets, the 163,000-square-foot Harbor Logistics Center features a clear height of 36 feet, 17 dock-high doors, ESFR sprinklers and a 185-foot-deep truck court, as well as 7,000 square feet of built-out office space. The asset also offers rooftop solar panels and tenant parking stalls with electric vehicle charging. Additionally, the project is divisible to 98,000 square feet. Ben Seybold, Sean Ward and Keith Greer of CBRE’s Orange County, Calif., office is handling leasing for Harbor Logistics Center.

February 17, 2025

Arizona Development Industrial Western

Wespac Construction Completes 99,498 SF Cove Logistics Center in Phoenix

by Amy Works February 17, 2025

PHOENIX — Wespac Construction has completed Cove Logistics Center, an industrial development at the southwest corner of Van Buren Street and 37th Avenue in Phoenix. The company worked with Deutsch Architecture Group and ViaWest Group on the project. The 99,498-square-foot Cove Logistics Center offers two high-end speculative suites. The project scope also included full-scale underground infrastructure, advanced stormwater retention systems, the construction of truck courts and a new parking lot.

February 17, 2025

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