Development

Avaio Digital Plans $5B Data Center Development in Farmville, Virginia

by John Nelson January 29, 2025

FARMVILLE, VA. — Avaio Digital Partners has agreed to purchase 280 acres in Farmville to make way for a new $5 billion data center campus. The Connecticut-based data center developer and operator signed the land sale agreement with the Industrial Development Authority (IDA) of Prince Edward County. Andy Walsh of SugarOak Realty represented Avaio Digital and Rhett Weiss with Cottonwood Commercial represented the Prince Edward County IDA in the land transaction. Known as the Farmville Data Hub, the site is fully zoned for five data centers, has ready fiber access, utility access and water supply secured. Avaio Digital has also completed preliminary site engineering and is in the process with Dominion for 300 megawatts of power. The developer is also underway on a $3 billion data center campus in nearby Appomattox County, Va.

January 29, 2025

California Development Multifamily Western

Sudberry Properties Opens 268-Unit Luma at El Corazon in Oceanside, California

by Amy Works January 29, 2025

OCEANSIDE, CALIF. — Sudberry Properties has opened Luma at El Corazon, a 278-unit apartment community located at 3546 Village Commercial Drive in Oceanside’s El Corazon, a multi-phase development that is home to Frontwave Arena and approximately 400 acres of parks, open space and civic uses. Luma at El Corazon consists of 23 three-story buildings with a mix of 113 one-bedroom, 120 two-bedroom and 35 three-bedroom apartments. Ranging from 691 square feet to 1,440 square feet, each of the 11 floor plans includes an outdoor deck, balcony or patio, stainless steel appliances, quartz countertops, wood-style flooring and in-unit washers/dryers. Community amenities include a clubroom with a demonstration kitchen and adjoining covered patio, a conference room and an indoor/outdoor fitness center with cardio and weights, a pool and spa, a lounge area with ping-pong and facilities for outdoor dining and grilling. Additionally, the property offers an attached or detached garage for each unit, a package reception area, 24-hour emergency maintenance and electric vehicle chargers. The development team included Bassenian Lagoni, Hunsake & Associates, Wermers Construction, Schmidt Design Group and Design Tec.

January 29, 2025

Arizona Development Industrial Loans Western

AEW Provides $68M Construction Loan for Industrial Park in Tempe, Arizona

by Amy Works January 29, 2025

TEMPE, ARIZ. — AEW Capital Management has provided a $68 million construction mortgage for the development of NextWave Tempe, a Class A industrial project in Tempe. A partnership between Overton Moore Properties and Invesco Real Estate broke ground on the project, which is located at 1500 N. McClintock Drive, in mid-January. Slated for completion in the fourth quarter, NextWave Tempe will feature 689,000 square feet of industrial space spread across three buildings.

January 29, 2025

Mountain-West-Industrial-Park-Las-Vegas-NV

Development Industrial Nevada Western

Milton Consulting Breaks Ground on Phase II of Mountain West Industrial Park in Las Vegas

by Amy Works January 29, 2025

LAS VEGAS — Milton Consulting, led by Jonathan Schwartz, has broken ground on the 324,404-square-foot Phase II of Mountain West Industrial Park in southwest Las Vegas. Situated on 18.8 acres at the intersection of South Tenaya Way and West Patrick Lane, Phase II will include four freestanding buildings with flexible suite configurations ranging from 7,150 square feet to 110,304 square feet. Construction on Buildings 5 and 6 will finish in late 2025, with Buildings 7 and 8 following in early 2026. Site improvements will wrap up alongside the buildings in the second phase. The four-building, 252,000-square-foot first phase is fully leased to a variety of tenants, including Mechanical Products Nevada, US Pharmatech and Spreadshirt. CBRE’s Willmore Industrial and Logistics team is overseeing marketing and leasing for Mountain West Industrial Park.

January 29, 2025

Development Retail Southeast Tennessee Top Stories

Simon Plans to Develop 325,000 SF Premium Outlets in Metro Nashville

by Kristin Harlow January 29, 2025

THOMPSON’S STATION, TENN. — Mall owner Simon Property Group (NYSE: SPG) has entered into an agreement to purchase a development site in metro Nashville with plans to build a luxury shopping and lifestyle destination known as Nashville Premium Outlets. The 325,000-square-foot project will be situated at the intersection of I-65 and I-840 in the southern suburb of Thompson’s Station. “This project represents a significant investment in our town and has the potential to enhance local amenities, create jobs and strengthen our economy,” says Thompson’s Station Mayor Brian Stover. Simon is collaborating with Nashville-based Adventurous Journeys Capital Partners (AJ Capital), a company known for its work in hospitality and real estate development. Construction is expected to begin in 2026, but a timeline for completion was not provided. Preliminary plans call for 75 retailers, restaurants and a hotel, with the potential to add residential options and big box retailers. “We are excited to bring another premier shopping and lifestyle destination to Nashville, one of our country’s most dynamic and fastest growing markets,” says Gary Duncan, Simon’s president of Premium Outlets and The Mills brands. Nashville Premium Outlets will join Simon’s existing properties in the metro area, including Opry Mills and The Mall …

January 29, 2025

Development Industrial North Carolina Southeast

PNK Group Delivers $120M Distribution Center in High Point, North Carolina

by John Nelson January 28, 2025

HIGH POINT, N.C. — PNK Group has delivered a $120 million distribution center in High Point, a city in North Carolina’s Piedmont Triad region. The nearly 1.1 million-square-foot project is a build-to-suit development for Ecolab Corp., a publicly traded water, hygiene and infection preventions solutions provider based in St. Paul, Minn. PNK Group bought the land, designed the building and supervised the entire construction process. The High Point project is the second build-to-suit between PNK Group and Ecolab, with the first located in Atlanta.

January 28, 2025

Development Multifamily Southeast Tennessee

Mill Creek Underway on 396-Unit Apartment Community in Nashville

by John Nelson January 28, 2025

NASHVILLE, TENN. — Mill Creek Residential is underway on the construction of Modera Nations, a 396-unit apartment community situated along the Cumberland River in Nashville’s The Nations neighborhood. The podium-style community will over views of the river and the downtown Nashville skyline and will eventually include a trailhead to the city’s Greenways expansion on the north end of the property. Located at 1650 54th Ave. N, Modera Nations will offer studio, one-, two- and three-bedroom apartments, as well as a bowling alley. Other amenities will include a resort-style swimming pool, spa with two saunas and a cold plunge tub, coworking lounge, fitness center, courtyards, community garden, dog park, rooftop deck, EV charging stations, bike lockers and a cold storage delivery station. Mill Creek plans to deliver the community by the end of the year.

January 28, 2025

Development Louisiana Office Southeast

Feil Organization Completes $4M Overhaul at One Lakeway Office Building in Metairie, Louisiana

by John Nelson January 28, 2025

METAIRIE, LA. — The Feil Organization has completed a $4 million renovation of the common areas at One Lakeway, an office building within the 1.2 million Lakeway office complex in Metairie. Feil partnered with AGL Commercial Interiors and AECOM Tishman on the project. The renovation included new art installations, furniture and finishes in the lobby, as well as landscaping improvements for the courtyard between One and Two Lakeway. Additionally, the overhaul included renovations to the café, rebranded now as Lakeway Café, and the installation of outdoor dining areas. Feil is underway on the lobby renovations at Two Lakeway and expects to complete construction by the end of the year.

January 28, 2025

Acquisitions Development Mixed-Use Texas

M2G Ventures, Evergen Buy 50,000 SF Mixed-Use Property in South Austin, Plans Redevelopment

by Taylor Williams January 28, 2025

AUSTIN, TEXAS — A partnership North Texas-based investment firm M2G Ventures and Austin-based Evergen Equity has purchased a 50,000-square-foot mixed-use property in South Austin. The facility at 211 E. Alpine Drive currently houses industrial, office and retail space. M2G plans to enhance the property’s landscaping, parking and painting, as well as to upgrade common areas, restrooms, interior and exterior lighting and storefronts. M2G will also introduce public art installations and rebrand the property as ALCO and has tapped CSA Realty Group is the leasing agent.

January 28, 2025

Golden-Triangle-Logistics-Center-Wallkill

Development Industrial New York Northeast

Crow Holdings Underway on 834,800 SF Industrial Project in Wallkill, New York

by Taylor Williams January 28, 2025

WALLKILL, N.Y. — Crow Holdings Development is underway on construction of an 834,800-square-foot industrial project in Wallkill, about 70 miles north of New York City. Golden Triangle Logistics Center will be a 92-acre development with two buildings that will total 535,600 and 299,200 square feet. The first building, which is slated for a summer delivery, will feature a clear height of 36 feet, 88 dock doors and parking for 83 trailers and 422 cars. JLL originally brokered the land sale behind Golden Triangle Logistics Center and has also been retained as the leasing agent.

January 28, 2025

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