ELLABELL, GA. — National retailer Burlington Stores Inc. has opened a new 2 million-square-foot distribution center in Ellabell, about 27 miles west of Savannah in Bryan County. The facility, the first distribution center in Georgia for Burlington, is expected to generate 1,500 new jobs at full capacity. In addition to climate-controlled, automated distribution space, the property will offer 40,000 square feet of office space with a full-service cafeteria, fitness center, locker room with showers, meditation room, maternity room and meeting rooms. The retailer also recently broke ground on another nearly 2 million-square-foot distribution center earlier this year in Buckeye, Ariz., a suburb of Phoenix. The new distribution centers will support the retailer’s growing network of discount apparel stores. Burlington expects to open approximately 115 net new stores nationwide by the end of fiscal 2026, which ends Jan. 30, 2027. All new stores feature Burlington’s reimagined store layout.
Development
Partnership to Launch $280M Mixed-Use Entertainment District Surrounding Neyland Stadium in Knoxville
by John Nelson
KNOXVILLE, TENN. — A public-private partnership between the University of Tennessee and a newly formed development platform comprising Arctos, RVX Ventures and Magellan Development Group will soon begin the development of Neyland Entertainment District, a $280 million mixed-use village surrounding Neyland Stadium, the home football arena of the University of Tennessee. The waterfront development in Knoxville will feature approximately 100,000 square feet of entertainment space alongside a 24-story hotel and residences, along with a private members club. Arctos is the majority equity investor in the project and is participating as a general partner alongside a sponsor team led by RVX, Magellan and Dixon Greenwood. The construction timeline was not disclosed, but Knoxville News Sentinel reports that construction is expected to begin this summer and include the overhaul of the G10 parking garage, which is a hub of parking and tailgating on game days. The media outlet also reported that the University of Tennessee System Board of Trustees approved a 99-year lease for the development in early May.
NEW YORK CITY — Developer Nasser Freres has received a $375 million construction loan for JFK Boulevard, an 840-unit apartment tower that will be located in the Journal Square area of Jersey City. The building will offer studio, one-, two- and three-bedroom units, 10 percent of which will be designated as affordable housing. Amenities will include a spa, fitness center, multi-sport court, coworking and library lounges, game and screening rooms, an outdoor pool with sun decks, dog run, pet spa and a rooftop lounge. In addition, JFK Boulevard will feature 50,000 square feet of retail space that will be anchored by an organic grocer. Keith Kurland, Aaron Appel, Adam Schwartz, Jonathan Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Jack Krentzman of Walker & Dunlop arranged the floating-rate, interest-only loan through Madison Realty Capital. Completion is slated for early 2029.
NEW YORK CITY — Marcus & Millichap has brokered the $9.4 million sale of a commercial development site in Queens. The site at 28-04 41st Ave. is located in the borough’s Long Island City neighborhood and can support 25,000 to 30,000 buildable square feet of residential, commercial or mixed-use development. Sean Fopeano, Shaun Riney, Joe Koicim and David Cornejo of Marcus & Millichap represented the seller, an undisclosed private family, in the transaction and procured the buyer, Jade Century Properties.
X-Caliber Provides $431M in Financing for Redevelopment of Coco Palms Resort in Hawaii
by John Nelson
KAUAI, HAWAII — X-Caliber Capital Holdings, a commercial real estate finance firm based in Irvington, N.Y., has provided a financing package totaling $431 million for the redevelopment of Coco Palms, a 32-acre resort destination on the Hawaiian island of Kauai. The property was famously the filming location of “Blue Hawaii,” a 1961 movie starring Elvis Presley, and is listed on the National Register of Historic Places. “Coco Palms holds a unique place in Kauai’s history, and its restoration is an exciting development for the island and its residents,” says Chris Callahan, president and CEO of X-Caliber. The financing includes $185.6 million of conventional financing via an affiliate of X-Caliber, X-Caliber Rural Capital, and $245.4 million of C-PACE financing through CastleGreen Finance, another X-Caliber affiliate. Together, the loans will provide 80 percent of the estimated redevelopment cost and are priced at an “attractive,” blended interest rate. Gabe Mashaal of X-Caliber Rural Capital originated the conventional loan on behalf of the developer, Utah-based Reef Capital Partners. New York City-based Highgate will operate Coco Palms upon completion of the redevelopment, which is planned for 2028. The conventional funds are intended to provide construction-through-stabilization financing for up to five years. The C-PACE funds are …
DALLAS — Locally based investment firm M2G Ventures has completed the redevelopment of the former Inwood Design District in northwest Dallas. The project converted a 14-building campus into a 740,000-square-foot industrial and retail property that also includes showroom space. The showroom and light industrial components are known as the Inwood Design District, and the retail and restaurant components are known as Ace on Inwood. The company purchased the 38-acre site at 1110 Inwood Road in early 2025, at which time the property was home to tenants such as Crate & Barrel, White Glove Storage & Delivery, Community Coffee, Neiman Marcus and Granimport USA.
EULESS, TEXAS — H-E-B has opened a 126,000-square-foot store in Euless, located in the northern-central part of the metroplex. Located at 2105 Rio Grande Blvd. and known as Mid-Cities H-E-B, the store is the 12th to be opened by the San Antonio-based grocer in the metroplex since 2022. H-E-B has also opened three Joe V’s Smart Shop stores in the area during that time, and this store’s debut also includes the opening of H-E-B’s 50th True Texas barbeque restaurant.
COLUMBUS, OHIO — Trident Capital Group has announced five transactions and developments across the greater Columbus region, adding 1.9 million square feet of industrial space to its portfolio. Columbus Works Commerce Center Phase I (Building C) is a 191,077-square-foot facility in Columbus that was completed in fourth-quarter 2025 and is now fully leased to three tenants. Trident is currently constructing Columbus Works Commerce Center Phase II (Building D), which will total 177,607 square feet on 16.5 acres. The building will feature a clear height of 32 feet, 21 dock doors, three drive-in doors and 144 car parking spaces. Nick Tomasone and Kilar Mariotti of CBRE are handling leasing. In April, Trident acquired the Ease Logistics Distribution Center, a 308,358-square-foot build-to-suit facility in Marysville. Delivered in 2024, the asset is fully leased to Ease Logistics Services LLC. The property is situated on 25 acres within 33 Innovation Park. Under construction is Rickenbacker Industrial Center III in Lockbourne. Developed in partnership with O’Connor Capital Partners, the project totals 958,740 square feet of speculative space. The development is slated for completion in first-quarter 2027 and will feature a clear height of 40 feet, 104 dock doors, a 190-foot truck court, 238 trailer parking …
SCHERTZ, TEXAS — Partners Real Estate has arranged the sale of a 25.4-acre industrial development site in Schertz, located northeast of San Antonio. The site is situated on Friesenhahn Lane between I-35 and FM 482. Stan Nowak and Andrew Alizzi of Partners represented the buyer, HPI Real Estate Development, in the transaction. The seller and future plans for the site were not disclosed.
MARLBOROUGH, MASS. — The Massachusetts State Police will open a 200,000-square-foot crime lab and training facility in Marlborough, a western suburb of Boston. The facility will be situated on a 24-acre site at 100 Martinangelo Drive, and the Commonwealth of Massachusetts has entered into a 20-year, triple-net lease with the owner, an investment group led by Greatland Realty Partners. The building will rise four stories, and the space will be able to accommodate about 250 employees. Completion is slated for early 2028. Brett Paulsrud, Andrew Gray and Michael George of JLL arranged credit tenant lease (CTL) financing for the project on behalf of ownership.