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Development

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CaliforniaDevelopmentMultifamilyWestern

Ryan Cos., Strata Equity Group Open VAYA on Axia Apartments in Chula Vista, California

by Amy Works

CHULA VISTA, CALIF. — Ryan Cos. US and equity partner Strata Equity Group have opened VAYA on Axia, a multifamily property in the Otay Ranch submarket of Chula Vista. The 340,000-square-foot project is situated within the master-planned community of Millenia. VAYA on Axia features 278 apartments, 482 parking spaces, a resort-style pool and spa, a rooftop deck, pet amenities, a fitness center, resident clubhouse, bike maintenance and storage facilities, electric vehicle chargers and community green areas. Additionally, the property offers an 1,180-square-foot commercial space that is a public coworking space, including a podcast studio. Ryan served as the developer and builder for the project.

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ArizonaDevelopmentIndustrialWestern

Lincoln Breaks Ground on Office-to-Industrial Redevelopment Near Phoenix Sky Harbor Airport

by Amy Works

TEMPE, ARIZ. — Lincoln Property Co. has broken ground on Sky Harbor Logistics, an office-to-industrial conversion project in Tempe. Located at 1515 W. 14th St., the development will bring two Class A logistics buildings to the Phoenix Sky Harbor International Airport submarket. Lincoln has been active on the Sky Harbor Logistics site since 2024, managing the demolition of an almost 220,000-square-foot office building and parking garage to make the parcel shovel-ready. The infill site was originally developed as an industrial property in 1977 and converted to office use in 2018. Upon completion in spring 2027, the 16.25-acre Sky Harbor Logistics will feature a 128,105-square-foot Building A and a 127,661-square-foot Building B. Each building will offer a clear height of 32 feet, 3,600 amps of power, 44 dock doors, four drive-in doors and 266 parking spaces, as well as a shared 190-foot truck court. The facilities will also feature ESFR sprinklers, LED lighting and clerestory windows. Designed for single- or multi-tenant use, both buildings are divisible to 32,000 square feet, with multiple architectural entries and two 1,592-square-foot office spec suites per building and HVAC installed. The project team includes Butler Design Group as project architect and Willmeng as general contractor. Lincoln will …

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DevelopmentIllinoisMidwestOffice

JPMorgan Chase Opens 34,000 SF Office Building in Winnetka, Illinois

by Kristin Harlow

WINNETKA, ILL. — JPMorgan Chase has opened its new three-story office building at the corner of Green Bay Road and Elm Street in Winnetka. Located at the site of the North Shore’s first-ever bank, the building houses J.P. Morgan Private Bank’s new North Shore office and Client Center. A new Chase retail branch anchors the ground floor. The development doubles the square footage of the former site to 34,000 square feet. Designed by Gensler, the project created 250 local jobs through construction, with 20 percent of the work awarded to local minority and women-owned businesses. With more than 14,500 employees, JPMorgan Chase is one of Chicagoland’s largest employers. The commercial history of the site dates to 1855 when a general store opened. In 1894, the North Shore’s first bank opened inside the store.

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DevelopmentMassachusettsMultifamilyNortheast

Wingate Completes 136-Unit Multifamily Renovation Project in Boston

by Taylor Williams

BOSTON — An affiliate of Wingate Cos. has completed the renovation of Forte at 1440 Beacon, a 136-unit apartment building in Boston’s Brookline neighborhood. The property was originally built in 1949, and the renovation entailed upgrades to the lobby, common areas, building exterior and mechanical and utility systems. The project team also enhanced existing amenities and added some additional recreational spaces and features. Dario Designs was the project architect, and Nauset Construction was the general contractor.

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DevelopmentMidwestMixed-UseOhioRetail

Cleveland Browns Break Ground on New Huntington Bank Field

by Kristin Harlow

CLEVELAND — The Haslam Sports Group, alongside a joint venture of AECOM Hunt and Turner Construction Co. and architect HKS, have broken ground on the new Huntington Bank Field, the future home of the Cleveland Browns starting in the 2029 season. The enclosed stadium and surrounding district marks northeast Ohio’s largest economic development project to date, according to the Browns. In addition to Browns games, the stadium can host events throughout the year such as NCAA Final Fours, international soccer matches and concerts for up to 75,000 people. Lincoln Property Co. will develop the mixed-use entertainment district. According to the Browns, the stadium’s revolutionary seating bowl design will bring fans closer to the field than any other NFL stadium. The transparent roof will be enhanced by a first-of-its-kind roofing system. AECOM Hunt and Turner are partnering with local contractors, including DiGeronimo Cos., Independence Excavating and Independence Construction. The project is scheduled to open in 2029 along with Phase I of the mixed-use development.   

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CivicDevelopmentTexas

Cadence McShane Completes 143,000 SF Academic Project in North Dallas

by Taylor Williams

DALLAS — Cadence McShane has completed a 143,000-square-foot academic project in North Dallas. The Henry W. Longfellow Career Exploration Academy is a replacement school for the Dallas Independent School District. In addition to classrooms, the three-story building houses administrative offices, fine arts spaces, a theater, library, cafeteria and kitchen and physical education facilities. Huckabee designed the project.

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DevelopmentIndustrialMassachusettsNortheastSelf-Storage

Davis Cos. Sells 922-Unit Self-Storage Facility in Metro Boston

by Taylor Williams

MEDFORD, MASS. — Locally based owner-operator The Davis Cos. has sold a 922-unit self-storage facility in Medford, a northern suburb of Boston. Davis acquired the facility at 970 Fellsway, which spans 80,995 net rentable square feet, in 2019 and subsequently implemented capital improvements, as well as a 297-unit expansion. Extra Space Storage operates the facility, which was 84 percent occupied at the time of sale. The buyer was a joint venture between Invesco Real Estate and Baranof Holdings.

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DevelopmentIndustrialNorth CarolinaOfficeSoutheast

Averitt to Build $200M Industrial Campus Near Charlotte Airport

by John Nelson

CHARLOTTE, N.C. — Averitt, a transportation and supply chain management company based in Cookeville, Tenn., has announced plans to develop a regional logistics campus near Charlotte Douglas International Airport. Charlotte Business Journal reports that the freight company is investing $200 million for the 100-acre campus. The development will include two distribution centers totaling more than 500,000 square feet; a 75,000-square-foot cross-dock facility; a two-story regional office totaling 16,000 square feet; and parking for more than 400 trailers. The campus will also offer fleet maintenance, fueling and driver support facilities. The investment is expected to double Averitt’s Charlotte area workforce over the next four years and will replace its current 40,000-square-foot service center at 3708 Westinghouse Blvd. that houses 182 full-time associates. Construction on the new campus is expected to begin immediately and wrap up in 2028.

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DevelopmentLeasing ActivityRetailSouth CarolinaSoutheast

TSCG Signs Sprouts Farmers Market to Anchor Columbia Shopping Center Redevelopment Project

by John Nelson

COLUMBIA, S.C. — TSCG has signed Sprouts Farmers Market to anchor Devine Crossing, a redevelopment project located in Columbia. The new 24,113-square-foot grocery store will occupy the former Piggly Wiggly site, which served the community for more than 50 years before closing in 2025. Locally based Cason Development acquired the 3.2-acre property last May. Alan Freeman of TSCG represented Sprouts Farmers Market in the lease negotiations. TSCG will also lease the remaining space at Devine Crossing. Along with Sprouts, Devine Crossing will include approximately 10,000 square feet of inline retail, as well as an additional 5,000 square feet of multi-tenant building space, bringing the full project to roughly 40,000 square feet of new and redeveloped retail. Sprouts Farmers Market is expected to open in 2027. 

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CaliforniaDevelopmentIndustrialLoansOregonWashingtonWestern

IPA Capital Markets Secures $116.5M Construction Loan for Pacific Northwest Industrial Property

by Amy Works

LOS ANGELES — IPA Capital Markets, a division of Marcus & Millichap, has arranged $116.5 million in financing for the development of a 1.4 million-square-foot industrial property in the Pacific Northwest. Gary Mozer and Lee Norman of IPA secured the financing on behalf of a national real estate development investment firm specializing in the acquisition, development and management of commercial real estate. “The credit nature of the tenant allowed us to secure 95 percent loan-to-cost financing at a five-year, fixed rate of 5.28 percent,” said Mozer. “The loan includes yield maintenance prepayment terms, with the final six months open with no prepayment penalty.”

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