Development

Joint Venture Acquires 838,840 SF Mizner Park in Boca Raton, Plans Multimillion-Dollar Renovation

by Abby Cox November 6, 2026

BOCA RATON, FLA. — A joint venture between CP Group, The Georgetown Co., private equity firm ACRE and investment firm StepStone Group has acquired Mizner Park, an 838,840-square-foot, open-air mixed-use development located in downtown Boca Raton. The new ownership group is planning to implement a multimillion-dollar renovation for the 35-year-old complex. JLL represented the seller, Brookfield Properties, and secured financing through Blackstone for the transaction. Brookfield, which acquired Mizner Park via the company’s acquisition of General Growth Properties (GGP) in 2018. The sales price was not disclosed, but the property was marketed with prospective bids reaching up to $290 million prior to its recent sale, according to various media outlets. “Mizner Park has been an important part of Boca Raton for more than three decades, and we see tremendous opportunity to help grow its future,” says Jonathan Schmerin, managing principal of The Georgetown Co. “Alongside our partners, we’re excited to work with the city and community to strengthen the tenant mix, bring new energy to the property and reinforce its position as one of America’s signature shopping, dining and entertainment destinations.” Mizner Park is considered one of the most influential “live-work-play” destinations in the United States. It was originally developed …

November 6, 2026

Acquisitions Content Partner Development Industrial Leasing Activity Lee & Associates Midwest Multifamily Northeast Office Retail Southeast Texas Western

Lee & Associates’ Q3 2026 Report: Industrial Rebounds, Office Stalls, Retail and Multifamily Gain Ground

by Sarah Daniels November 6, 2026

After three years of new construction outpacing tenant demand in many sectors and areas, commercial real estate posted a mostly encouraging report card in the third quarter of 2026. Lee & Associates’ 2026 Q3 North America Market Report shows industrial demand nearly doubled from the second quarter, while retail and multifamily extended their rebounds. Office, the sector that had been staging a comeback, slipped back into negative tenant demand territory. Sponsored: Download Lee & Associates’ 2026 Q3 North America Market Report. Industrial Overview: Tenant Growth Gains in United States There has been broad general improvement across North American industrial markets, with demand for space rebounding in the United States. Third-quarter net absorption totaled 84,081,618 square feet, as more users gradually have set aside tariff and trade concerns that have hobbled tenant expansion since 2023. The third-quarter gains are an 89 percent improvement from 44.4 million square feet in the second quarter and a year-on-year jump of 172 percent. The third quarter’s growth brought the year-to-date total to 161.2 million square feet as net absorption has recovered from three years of tepid growth. Despite the increase so far this year, tenant expansion continues to fall short of absorbing the volume of deliveries that …

November 6, 2026

Development Industrial Texas

Provident Industrial Completes 497,280 SF Project in El Paso

by Taylor Williams November 5, 2026

EL PASO, TEXAS — Provident Industrial, a subsidiary of Dallas-based development and investment firm Provident, has completed a 497,280-square-foot industrial project in El Paso. The project represents the fourth and final phase of Gateway Logistics Park and consists of three rear-load buildings. Buildings 4 and 5 each span 147,420 square feet and have a shared 205-foot truck court. Building 6 totals 202,440 square feet and has a 130-foot truck court and 44 trailer parking stalls. Construction of Phase IV began in spring 2025. Now fully built out, Gateway Logistics Park comprises six buildings totaling roughly 1.4 million square feet.

November 5, 2026

Development New York Northeast Office

Marx Realty Begins $68M Repositioning of Midtown Manhattan Office Building

by Taylor Williams November 5, 2026

NEW YORK CITY — Marx Realty has begun the $68 million repositioning of 430 Park Avenue, a 19-story, 300,000-square-foot office building in Midtown Manhattan. The project will involve a redesign of the lobby and the introduction of indoor and outdoor amenities, including a parlor, library, golf simulator lounge and an indoor/outdoor bar. Studios Architecture is designing the project, which will also include the installation of new custom artwork. Lobby work has commenced, and work on pre-built suites will begin before the end of the month. Construction on amenity spaces will begin in February 2027, with completion expected for the summer.

November 5, 2026

Company News Development Florida Loans Southeast

Trez Capital, Starwood Capital Partner for Residential Land, Development Financing Venture

by John Nelson November 5, 2026

VANCOUVER AND MIAMI — Trez Capital and Starwood Capital Group have entered into a strategic partnership that will focus on origination of residential land acquisition and development loans for single-family communities across the United States. The partnership will expand Trez Capital’s lending capacity, further scaling its established residential land development financing platform. For Starwood Capital, the new venture will give the company the opportunity to finance land acquisition and development, complementing its long-standing track record in residential land investments. “Trez Capital has a strong track record in U.S. residential land lending, and we look forward to leveraging our collective strengths through this relationship,” says Anthony Murphy, managing director at Starwood Capital. The partnership is expected to be seeded with a $450 million portfolio of residential land acquisition and development loans originated by Trez Capital. The venture will target more than $1 billion in annual originations. “Starwood’s decision to partner with Trez Capital reflects the strength of our team, our origination capabilities and our expertise in this sector,” says John Maragliano, co-CEO and CFO of Trez Capital. “This will deliver additional institutional depth and enhanced financing capabilities, while supporting stronger returns and liquidity for our investors.”

November 5, 2026

Development Illinois Midwest Multifamily

R2 Cos., Lagfin Complete Office-to-Residential Conversion Project in Chicago

by Kristin Harlow November 5, 2026

CHICAGO — R2 Cos. and Lagfin, the building’s owner, have completed development of the office-to-residential conversion at 79 W. Monroe in downtown Chicago’s Loop. Ware Malcomb’s Chicago office provided architecture and interior design services for the renovation of the historic 14-story building, which included transforming seven upper floors of vacant office space into 76 market-rate and 41 affordable housing units. Built in 1905 and historically known as the Rector Building, the masonry high-rise is the oldest surviving commercial structure by Chicago architect Jarvis Hunt. The project marks the first completed under the city’s LaSalle Street Reimagined initiative. The new residential floors offer a mix of studio, one- and two-bedroom units. Rooftop amenities include an indoor tenant lounge, a fitness center and outdoor areas. Leopardo Cos. and GMA Construction Group were the general contractors.

November 5, 2026

Civic Development Midwest North Dakota

Kraus-Anderson Builds $63.7M Laboratory Facility in Bismarck, North Dakota

by Kristin Harlow November 5, 2026

BISMARCK, N.D. — Kraus-Anderson has completed a new $63.7 million laboratory facility for the Department of Health and Human Services and the Department of Environmental Quality located on North Dakota’s State Capitol grounds adjacent to the State Museum in Bismarck. Designed by Zerr Berg Architects, the three-story, 104,230-square-foot facility features an expanded capacity for future tests such as toxicology of non-fatal overdoses, hematology and chemistry tests for North Dakota correctional facilities. Separate departments will share resources in the facility. Construction began in April 2024.

November 5, 2026

Development Illinois Industrial Midwest

Meridian Constructs 50,463 SF Industrial Build-to-Suit Project in Bartlett, Illinois

by Kristin Harlow November 5, 2026

BARTLETT, ILL. — Meridian Design Build has completed a 50,463-square-foot truck maintenance and tire storage facility for Pava Logistics within Blue Heron Business Park in Bartlett. The building marks the third build-to-suit project that Meridian has constructed within the park, which is owned by Abbott Land & Investment. The building features a clear height of 24 feet, two loading docks, 12 drive-in doors and accommodations for truck maintenance. Harris Architects provided architectural and structural design services, while Mackie Consultants handled the civil engineering design.

November 5, 2026

Development Loans Multifamily New York Northeast Office

Northwind Group Provides $231M Construction Loan for Office-to-Residential Conversion Project in Manhattan

by Taylor Williams November 4, 2026

NEW YORK CITY — Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, has provided a $231 million construction loan for an office-to-residential conversion project in Manhattan. The borrower is joint venture between Metro Loft Management and David Werner Real Estate Investments, and the building in question is 675 Third Avenue, a 32-story, 337,000-square-foot tower in the Midtown East submarket. The conversion could add as many as 450 new apartments to the local supply, inclusive of a 25 percent affordable housing component. The joint venture, which acquired the building last spring, has tapped Gensler and Collaborative Construction Management as project partners. A construction timeline was not announced.

November 4, 2026

Development Industrial Northeast Rhode Island Self-Storage

Ardent, Ironwood Complete 913-Unit Self-Storage Facility in Woonsocket, Rhode Island

by Taylor Williams November 4, 2026

WOONSOCKET, R.I. — A partnership between Atlanta-based developer The Ardent Cos. and Ironwood Development Partners has completed a 913-unit self-storage facility in Woonsocket, located along the Massachusetts-Rhode Island border. The site is a former brownfield at 153 Hamlet Ave. that was remediated prior to the start of construction. Extra Space Storage operates the facility, which spans approximately 80,000 square feet, though it is unclear if that figure refers to gross or net rentable square footage. A formal opening ceremony took place in late summer.

November 4, 2026

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