Monday, July 28, 2025
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DevelopmentLeasing ActivityLouisianaRetailSoutheast

GBT Realty Adds New Retailers at River Marketplace in Lafayette, Louisiana

by John Nelson

LAFAYETTE, LA. — GBT Realty Corp. has executed leases with new retailers at River Marketplace, a 168,000-square-foot shopping center in Lafayette. J. Crew Factory, Sephora and lululemon have signed leases to occupy a freestanding, 16,700-square-foot building within the shopping center that once housed Books-A-Million, which shuttered earlier this year. All three retailers are expected to open in early 2025. A final 3,450-square-foot space remains available for lease in the building. Situated on a 43-acre site, River Marketplace is anchored by a Super Target. The property is currently 99 percent leased to tenants including Ross Dress for Less, Total Wine & More, Rack Room Shoes, Cato, 2nd & Charles, Toasted Yolk Café, Buckle, Crumbl Cookies and Games Workshop.

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ColoradoDevelopmentIndustrialTop StoriesWestern

Philip Morris Plans $600M ZYN Manufacturing Facility in Aurora, Colorado

by Kristin Harlow

AURORA, COLO. — Philip Morris International Inc. (PMI) has unveiled plans to invest $600 million over the next two years through one of its U.S. affiliates to open a manufacturing facility in Aurora, just east of Denver. PMI says the facility will produce Swedish Match ZYN nicotine pouches to help meet the growing global demand for smoke-free products. PMI plans to break ground on the development later this year and to begin preliminary operations by the end of 2025. Regular production is slated to begin in 2026. Swedish Match North America is also currently working to increase ZYN oral nicotine pouch production at its facility in Owensboro, Ky. PMI acquired Swedish Match in late 2022. Nicotine pouches are a flavored product marketed as an alternative to smoking or dipping tobacco. Long popular in Europe, they recently skyrocketed in popularity in the United States, fueled by social media influencers, according to ABC News. The project is expected to create 500 direct jobs with ongoing annual economic impact of $550 million and an additional 1,000 indirect jobs for the state of Colorado, according to PMI. The construction is expected to create nearly 5,000 temporary jobs. Career opportunities at the new facility will …

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Affordable HousingDevelopmentLoansMultifamilySeniors HousingTexas

Hunt Capital Arranges $13.2M Equity Financing for Affordable Seniors Housing Project in Stafford, Texas

by Taylor Williams

STAFFORD, TEXAS — Hunt Capital Partners has arranged $13.2 million in Low-Income Housing Tax Credit (LIHTC) equity financing for the construction of Oak Lofts Crossing for Seniors, a 60-unit affordable property that will be located in the southwestern Houston suburb of Stafford. Oaklake Community Housing Development Corp. (OCHDC) is the borrower. Comprising a four-story, mid-rise building, the development will offer a mix of one- and two-bedroom homes for those who earn up to 30, 50 and 60 percent of the area median income (AMI). Amegy Bank also provided $10.5 million in construction financing for the project, and Legacy Bank & Trust provided $2.6 million in permanent financing.

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DevelopmentIndustrialTexas

IAC Properties Completes 553,030 SF Industrial Project in South Dallas

by Taylor Williams

DALLAS — Developer IAC Properties has completed Wintergreen Distribution Center, a 553,030-square-foot industrial project in South Dallas. Wintergreen Distribution Center is a multi-tenant speculative building that sits on a 34-acre site and features 40-foot clear heights, 1,550 square feet of office space, four drive-in doors and parking for 151 trailers and 328 automobiles. Krusinski Construction Co. served as the general contractor for the project.

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AlabamaDevelopmentRetailSelf-StorageSoutheast

U-Haul to Develop Three-Story Moving and Self-Storage Property in Athens, Alabama

by John Nelson

ATHENS, ALA. — U-Haul plans to build a new retail, moving and self-storage property on a 5.3-acre site at 16298 Athens-Limestone Blvd. in Athens, about 27 miles east of Huntsville, Ala. Set to open in 2026 along I-65, the three-story property will feature 1,100 indoor self-storage units, more than half of which will be climate-controlled. Amenities will include access to moving trucks, trailers, towing devices, U-Box containers, professional hitch installation, propane refills and propane exchange. The property will also feature a retail showroom that will sell boxes and moving supplies, bike racks, towing accessories and locks. Additionally, U-Haul Moving & Storage in Athens will feature a U-Box warehouse that will hold up to 1,000 portable moving and storage containers. The new facility will represent the first location in Athens for U-Haul.

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AcquisitionsAlabamaDevelopmentMultifamilySoutheastStudent Housing

Audubon Acquires Student Housing Tower in Birmingham, Plans Conversion to Market-Rate Apartments

by John Nelson

BIRMINGHAM, ALA. — Audubon has purchased Scholar Birmingham, a 198-unit student housing high-rise in Birmingham’s Five Points neighborhood. The tower was developed as an off-campus student housing property in 2020 due to its proximity to University of Alabama at Birmingham (UAB). The seller and sales price were not disclosed. Audubon plans to transition the property to market-rate housing in a retrofit that includes modernizing the interiors and enhancing community amenities. According to the Scholar Birmingham property website, the community offers fully furnished, pet-friendly studio, one-, two-, three- and four-bedroom apartments. Amenities include package lockers, a fitness center, sauna, gaming room, theater and a rooftop amenity deck with a pool, covered lounge and barbecue grills.

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DevelopmentLeasing ActivityRetailSoutheastVirginia

The Fresh Market to Open Two Grocery Stores in Metro DC Totaling 56,000 SF

by John Nelson

RESTON AND FALLS CHURCH, VA. — The Fresh Market plans to anchor two mixed-use developments in the Northern Virginia region of metropolitan Washington, D.C. The Greensboro, N.C.-based grocer has committed to approximately 27,000 square feet of space at Reston Station, a mixed-use development in Reston by Comstock Cos., and 29,000 square feet at West Falls, a 10-acre mixed-use development in Falls Church by Hoffman & Associates. The Reston Station grocery store will be situated within Midline at Reston Station, and the West Falls store will be located at the ground level of an upcoming residential development. Both new stores are expected to open within the next three years, with the West Falls store set to open by mid-2026. The Fresh Market has two existing locations in nearby Alexandria and Vienna, Va.

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CivicDevelopmentIllinoisMidwest

Brookfield Zoo Chicago Unveils $500M Renovation Plan

by Kristin Harlow

CHICAGO — Brookfield Zoo Chicago has unveiled its “Next Century Plan” that will reshape more than 100 acres, representing nearly half of the zoo’s existing property. The zoo has outlined a 15-year campus plan in four phases, with further improvements projected over 30 years. Plans call for new, immersive experiences with the preservation of historical structures and includes nearly all existing zoo areas. The zoo also plans to expand its current property westward. The investment is expected to reach $500 million from public and private funding. The first phase of the project is underway and includes completed projects such as the $10 million renovation of the Seven Seas dolphin habitat, reimagining of the Theodore Roosevelt Memorial Fountain, new animal habitats within the Hamill Family Nature Plaza and the opening of the Philip W. K. Sweet Jr. Animal Care and Conservation Center. Culminating the end of Phase I is Tropical Forests, a $66 million project underway that creates four new outdoor habitats crafted to emulate the natural homes of gorillas, orangutans and monkeys. Tropical Forests, set to open in 2025, also includes a new Gorilla Conservation Center. Architectural and planning teams for the project include Booth Hansen, Jones & Jones Architects …

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DevelopmentIllinoisMidwestOffice

Skender Completes 100,000 SF Interior Build-out for Relativity Office Headquarters in Chicago

by Kristin Harlow

CHICAGO — Skender has completed interior construction of a 100,000-square-foot office headquarters for software developer Relativity in Chicago. The new workspace spans the 19th and 20th floors plus dedicated terrace space on the 23rd floor of the Central Standard Building at 231 S. LaSalle St. The space features a mix of private offices, open workstations, meeting rooms, lounge spaces, pantry areas and a boardroom. The build-out included the addition of an interconnecting staircase with stadium-style seating for townhall meetings as well as the installation of three gas fireplaces, a golf simulator, putting green, massage chairs and a giant video wall. The terrace features a gas firepit, two water features and audiovisual (AV) and lighting for events. The project team included CBRE as project manager, Partners by Design as architect, Syska Hennessy Group as engineer and TM Technology Partners as low voltage/AV designer.

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DevelopmentMidwestMissouriMultifamily

Midas Construction Tops Off 227-Unit Luxury Apartment Complex in Ellisville, Missouri

by Kristin Harlow

ELLISVILLE, MO. — Midas Construction has topped off MILA Apartments in Ellisville, a far west suburb of St. Louis. The four-story, 227-unit luxury apartment complex is slated for completion in summer 2025. Midas Hospitality and Balke Brown are developing the project with affiliates Double Eagle Development and Diamond Income Fund. Designed by Rosemann & Associates, the property will feature a 141,000-square-foot parking garage. There will be eight floor plans ranging in size from 552 to 1,363 square feet. Amenities will include a courtyard, pool, bike storage, dog park, business center and fitness room. The project site was formerly home to a car dealership.

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