Development

Arden Group Completes $8M Renovation of North Houston Industrial Property

by Taylor Williams June 10, 2025

HOUSTON — The industrial operating platform of Philadelphia-based investment and development firm Arden Group has completed the $8 million renovation of North Park 34, an 865,000-square-foot industrial property in North Houston. Capital improvements included the full repainting of all building exteriors, the installation of drought-tolerant landscaping and the gutting of 30 vacant suites to create turnkey spaces. These initiatives have helped facilitate 48 leases totaling nearly 252,000 square feet over the past 12 months. Stream Realty Partners leases North Park 34.

June 10, 2025

Development Florida Loans Multifamily Southeast

Grover Corlew Obtains $92M Construction Financing for Mayla Cypress Apartments in Fort Lauderdale

by John Nelson June 10, 2025

FORT LAUDERDALE, FLA. — Grover Corlew, a Boca Raton, Fla.-based developer, has obtained a $92 million construction loan to build Mayla Cypress, a 312-unit apartment community in the Cypress Creek submarket of north Fort Lauderdale. Scott Wadler, Patrick Johnson, Mitch Sinberg, Brad Williamson and Matthew Robbins of Berkadia arranged the three-year construction loan through Affinius Capital. Mayla Cypress is situated on a 3.7-acre site Grover Corlew assembled in 2022. The developer anticipates the project’s completion date will be approximately May 2027. Straticon is the general contractor. Amenities at Mayla Cypress will include a billiards bar with an adjacent speakeasy; a courtyard; resort-style pool with cabanas; two-story, 24-7 fitness center with a cardio mezzanine level and a yoga room; coworking and event/conference space; sundry store; and package rooms. Last year, Grover Corlew completed another Mayla-branded property in nearby Pompano Beach, Fla.

June 10, 2025

Development Multifamily New Jersey Northeast

Rockpoint Begins Leasing 298-Unit Declan Apartments in Weehawken, New Jersey

by Taylor Williams June 10, 2025

WEEHAWKEN, N.J. — Boston-based private equity and real estate investment firm Rockpoint has begun leasing The Declan, a 298-unit apartment community located in the Northern New Jersey community of Weehawken. The 10-story building offers studio, one-, two- and three-bedroom units that are furnished with quartz countertops, stainless steel appliances and private balconies, patios or terraces. Amenities include a landscaped courtyard with grilling stations, an outdoor dining room, gaming area, pool, fitness center, golf simulator, coffee bar, library and coworking spaces. According to Apartments.com, monthly rental rates start at $3,380.

June 10, 2025

Connecticut Development Hospitality Northeast

Private Owners Complete Redevelopment of Historic Inn in Westbrook, Connecticut

by Taylor Williams June 10, 2025

WESTBROOK, CONN. — Private owners Meri Wick and Marcus Little have completed the redevelopment of The Captain Stannard, a historic inn located in the southern coastal Connecticut city of Westbrook. The Captain Stannard is a 10-room establishment that was originally constructed in 1872. According to the Connecticut Post, the project involved reconfiguring the main dining area, upgrading the main common area and applying fresh paint and furnishings to select areas, as well as putting new bedding in all guestrooms.

June 10, 2025

California Development Multifamily Western

R.D. Olson, MBK Rental Living Begin Construction on 330-Unit Vintage Farms Multifamily Project in Murrieta, California

by Amy Works June 10, 2025

MURRIETA, CALIF. — R.D. Olson Construction, on behalf of MBK Rental Living, has broken ground on Vintage Farms, a $80 million residential village in Murrieta. Vintage Farms will offer 330 market-rate and luxury apartments spread across 11 buildings and 15 standalone garages on 15 acres. Located at 28749 Clinton Keith Road, Vintage Farms will offer studio, one-, two- and three-bedroom apartments and 15 standalone garages, ranging from seven to 16 stalls, offering a total of 332 parking spaces. The 449,280-square-foot residential space will include nine 40,320-square-foot buildings with 30 apartments and two 43,200-square-foot buildings with 30 apartments. Built in five phases over 18 months, the community’s first phase will include the development of all amenities, including the clubhouse, pool, hot tub, barbecue areas and walkways, and the first two apartment buildings and two garages. The following four phases will include the construction of two apartment buildings and two to four garages in each phase. The five-phase construction plan will turn over units during each phase to ensure an on-time delivery while minimizing noise disruption to the community. The full project is slated for completion by fall 2026. Project partners include Geotek USA, Forma Engineering, SiteScapes, SummA Architecture, Gouvis Engineering, Tek Systems, …

June 10, 2025

Development Industrial Nevada Western

Metcalf Builders Breaks Ground on 475,880 SF Bulk Industrial Facility in Reno

by Amy Works June 10, 2025

RENO, NEV. — Metcalf Builders has broken ground on East Building 6 at Comstock Commerce Center, a logistics property owned by Locus Development Group. Slated for completion in fourth-quarter 2025, East Building 6 will offer 475,880 square feet of bulk industrial space designed to meet the needs of modern logistics and manufacturing space. The $24 million project is located within Tahoe Reno Industrial Center.

June 10, 2025

Data Centers Development Industrial Midwest Minnesota

Oppidan Breaks Ground on 61,000 SF Data Center in Eagan, Minnesota

by Kristin Harlow June 10, 2025

EAGAN, MINN. — Oppidan Investment Co. has broken ground on a 61,000-square-foot data center on Argenta Trail, south of the YMCA property in the Minneapolis suburb of Eagan. The project marks one of only two ground-up data center developments currently underway in Minnesota, according to Oppidan, which is serving as the landlord and directly financing, developing and delivering the facility in partnership with a tenant. Completion is slated for 2026. Project partners include the City of Eagan, Minnesota Department of Employment and Economic Development, Dakota County, Greater MSP, Dakota Electric Association and Great River Energy. Gardner Builders is the general contractor, ERA Associates is the structural engineer, Stantec is the civil engineer, Salas O’Brien is the architect and States Manufacturing is the electric equipment supplier.

June 10, 2025

Development Illinois Midwest Retail

Berger Asset Management Unveils New Development Plans for Hawthorn Woods Town Center in Metro Chicago

by Kristin Harlow June 10, 2025

HAWTHORN WOODS, ILL. — After holding a 20-acre land parcel for more than 15 years, a private real estate investment group led by land developer Jonathan Berger of Berger Asset Management has unveiled new zoning and development plans for Hawthorn Woods Town Center. Berger worked with the Village of Hawthorn Woods on the revised plans for the site, which is located at the intersection of Old McHenry and Midlothian roads in the northern Chicago suburb. The original zoning of the property required 300-foot setbacks. Berger secured 30-foot setbacks, which are typical in most retail properties. The village has also indicated a willingness to incentivize grocery stores, including small-store footprints. Additionally, the rerouting of traffic under railroad tracks, once complete, will serve to more directly and conveniently connect the Hawthorn Woods Town Center site to the village’s community park. Berger originally acquired 40-plus acres in two distressed 20-plus-acre land parcels in Hawthorn Woods in 2009-2010, intending to act as an opportunistic land developer. In late 2019, Berger sold the site on the south side of Old McHenry Road to K. Hovnanian, a Dallas-based residential developer that built 70 homes. While assuming the position of a traditional land developer, Berger is not …

June 10, 2025

Company News Data Centers Development Northeast Pennsylvania Top Stories

Amazon to Invest Minimum of $20B in AI-Based Data Center Campuses Throughout Pennsylvania

by John Nelson June 10, 2025

SEATTLE — Amazon (NASDAQ: AMZN) plans to invest “at least $20 billion” in future cloud computing and artificial intelligence (AI) innovation campuses in Pennsylvania. The Seattle-based e-commerce giant has identified Salem Township in Luzerne County and Falls Township in Bucks County as the first communities that will host these campuses, with other Pennsylvania communities also under consideration. “I’m proud to announce that we have secured the largest private sector investment in the history of Pennsylvania,” said Pennsylvania Gov. Josh Shapiro. “Pennsylvania is competing again.” Upon completion, the campuses will house data centers with computer servers, data storage drives, networking equipment and other technology infrastructure used for cloud computing capabilities and generative AI. Specific details about the sites and construction timelines were not released. Last week, Amazon made a similar announcement for a $10 billion data center innovation campus in Richmond County, N.C., which followed an $11 billion investment in Georgia that Amazon announced in January. Amazon stated that the Pennsylvania investment will create at least 1,250 new jobs, as well as thousands of jobs in the Amazon Web Services (AWS) data center supply chain. The new jobs will range from data center engineers and network specialists, to engineering operations managers, security …

June 10, 2025

Acquisitions Development Industrial Texas

Foxconn Buys 1 MSF Industrial Campus in Houston from Dalfen, Plans Redevelopment

by Taylor Williams June 9, 2025

HOUSTON — Foxconn, a Taiwanese electronics manufacturer, has purchased the 1 million-square-foot Fairbanks Logistics Park in northwest Houston from Dallas-based Dalfen Industrial with plans to redevelop the property to support advanced manufacturing and AI infrastructure initiatives. According to the Greater Houston Partnership, the redevelopment constitutes an investment of $450 million and could generate as many as 600 new jobs. Fairbanks Logistics Park consists of four front-load buildings on a 100-acre site that feature 32-foot clear heights and 180-foot truck court depths. Garrett Geaccone, Jeremy Lumbreras and Tyler Maner of Stream Realty Partners represented Dalfen in the transaction. Reggie Beavan and Joshua Brown of Newmark represented Foxconn.

June 9, 2025

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