Tuesday, July 22, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Development

Shopoff_Desert-Hot-Springs-Calif
AcquisitionsCaliforniaDevelopmentIndustrialTop StoriesWestern

Shopoff Realty Acquires 55 Acres in Southern California’s Inland Empire East, Plans 1.1 MSF Industrial Development 

by Hayden Spiess

DESERT HOT SPRINGS, CALIF. — Shopoff Realty Investments has acquired a 55-acre property in Desert Hot Springs, a city in the Inland Empire East region of Southern California, with plans to develop an industrial project at the site.  Upon completion, the development will comprise 1.1 million square feet of distribution and warehouse space. The property, which is situated with proximity to the site of an Amazon warehouse and with direct access to I-10, will feature 167 docks, 498 trailer stalls and a clear height of 42 feet.  “This Desert Hot Springs project represents a rare opportunity to acquire a property that is already entitled and ready for development, in an area with significant demand from e-commerce companies for logistics and warehouse space,” says William Shopoff, president and CEO of the firm. “With neighbors such as Amazon and FedEx, this location has the potential to provide a great investment for many years to come and will offer third-party logistics companies significant drayage savings compared to projects in Arizona and Las Vegas.” Construction on the project is scheduled to begin in the third quarter of this year, with an anticipated timeline of 12 months.  Ian DeVries and Christ DeVries of Colliers, along …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentRetailTexas

Lowe’s Home Improvement to Open 94,000 SF Store in Magnolia, Texas

by Taylor Williams

MAGNOLIA, TEXAS — Lowe’s Home Improvement will open a 94,000-square-foot store in the northwestern Houston suburb of Magnolia. The North Carolina-based retailer acquired 10 acres at the corner of FM 1488 and Spur 149 for the store, which will be part of a larger 60-acre retail development known as Magnolia Village. Gulf Coast Commercial is the master developer of Magnolia Village. Construction of the store is scheduled to begin later this year and to be complete in 2025. Parkside Capital sold the land to Lowe’s for an undisclosed price.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentMultifamilySeniors HousingTexas

Sherman & Roylance Brokers Sale of Seniors Housing Development Site in Austin

by Taylor Williams

AUSTIN, TEXAS — Sherman & Roylance has brokered the sale of an eight-acre seniors housing development site in Austin. The City of Austin had previously approved the site for the development of a two-story, 98-unit assisted living and memory care facility, but the project faced construction delays and ultimately ended up in foreclosure in September 2023. The lender, Woodforest Bank, sold the partially completed project to Novak Brothers, which may convert the project into a general multifamily development.

Continue Reading
FacebookTwitterLinkedinEmail
Journal-Square-Urby
DevelopmentMultifamilyNew JerseyNortheast

Urby Begins Leasing 317-Unit Apartment Building in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has begun leasing a 317-unit apartment building in Jersey City. Rising 265 feet and 25 stories, Journal Square Urby offers studio, one-, two- and three-bedroom floor plans. Amenities include a pool, fitness center with a yoga studio, rooftop garden, outdoor grilling and dining areas, a lobby café and a dog park. Dutch architecture firm Concrete and New York City-based HLW designed the project. Rents start at approximately $3,300 per month for a studio apartment.

Continue Reading
FacebookTwitterLinkedinEmail
Vermella-Broad-Street-Newark
DevelopmentMultifamilyNew JerseyNortheast

Russo Development Completes 296-Unit Apartment Community in Downtown Newark

by Taylor Williams

NEWARK, N.J. — Locally based firm Russo Development has completed Vermella Broad Street, a 296-unit apartment community located at 355 Broad St. in downtown Newark. The property consists of two five-story buildings that house studio, one- and two-bedroom units. Residences are furnished with stainless steel appliances and quartz countertops, and select units offer private balconies. Vermella Broad Street also features 40,000 square feet of indoor and outdoor amenity space. Rents start at roughly $2,000 per month for a studio apartment. Leasing began last November.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFloridaMultifamilySoutheast

Pinnacle, Wendover Housing Deliver 112-Unit Affordable Housing Community in Riviera Beach, Florida

by John Nelson

RIVIERA BEACH, FLA. — Pinnacle and Wendover Housing Partners have opened Berkeley Landing, an affordable housing community located at 3100 Broadway in Riviera Beach, about five miles north of West Palm Beach. Berkeley Landing features 110 income-restricted units and two market-rate units attached to live-work spaces on the ground level. The property features one-, two- and three-bedroom apartments with incomes restricted to households earning 30, 50, 60 and 80 percent of the area median income (AMI). Amenities include a clubhouse, pool and a cabana, fitness center, cyber lounge, covered pavilion, playground and an enclosed dog-walking area. Financing for Berkeley Landing includes funding from the Florida Housing Finance Corp.’s allocation of housing tax credits; a contribution from Riviera Beach Community Redevelopment Agency leveraged by a low-interest loan and impact fee relief from Palm Beach County; equity from The National Equity Fund and Bank of America; construction financing from Bank of America; and permanent financing from Neighborhood Lending Partners. Pinnacle and Wendover Housing Partners will host an official grand opening of Berkeley Landing on Friday, June 14.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialNew JerseyNortheast

STRO Cos., KRE Group Break Ground on 136,714 SF Industrial Redevelopment in Florham Park, New Jersey

by Taylor Williams

FLORHAM PARK, N.J. — A partnership between two New Jersey-based firms, The STRO Cos. and KRE Group, has begun an industrial redevelopment project in the Northern New Jersey community of Florham Park. The project will convert a former office building that sits on a 14.4-acre site at 19 Vreeland Road into a 136,714-square-foot warehouse with a clear height of 36 feet, 26 loading docks, one drive-in door and parking for 108 cars and 36 trailers. Cushman & Wakefield will market the project for lease. Completion is slated for the first quarter of next year.

Continue Reading
FacebookTwitterLinkedinEmail
2587-Telegraph-Ave-Berkeley-CA
AcquisitionsCaliforniaDevelopmentMultifamilyStudent HousingWestern

CBRE Brokers Sale of Development Site for 232-Bed Student Housing Project Near UC Berkeley

by Amy Works

BERKELEY, CALIF. — CBRE has arranged the sale of a 0.43-acre development site at 2587 Telegraph Ave. in Berkeley, approximately five blocks south of the University of California, Berkeley campus. 2565-2589 Telegraph Black LLC, a local private investor and related party of Anchor Valley Partners, sold the asset for an undisclosed price. An undisclosed buyer plans to build a 52-unit, 232-bed student housing development on site. The project is approved and entitled for an eight-story, 112,562-square-foot, mixed-use building featuring studio, four-, five- and six-bedroom units, including six affordable housing units. Additionally, the finished project will include 2,902 square feet of ground-floor commercial space, 5,105-square-foot of outdoor space, a fitness room, an amenity room, study pods and bike parking. Keith Manson, Zachary Greenwood and Mac Watson of CBRE’s Oakland office represented the seller in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentHospitalityMidwestMissouri

Midas Hospitality Opens 96-Room TownePlace Suites Hotel in Wentzville, Missouri

by Kristin Harlow

WENTZVILLE, MO. — Midas Hospitality has opened a TownePlace Suites by Marriott extended-stay hotel in Wentzville, a far west suburb of St. Louis. The 96-room property is located at 20 Cliff View Drive along I-70. The four-story hotel features a fitness center, guest laundry facilities, complimentary breakfast buffet, complimentary high-speed internet, a 10-person meeting room and outdoor patio area. CMC Construction was the general contractor, and Royal Banks of Missouri provided project financing.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMixed-UseMultifamilyTexasTop Stories

Texas Rangers, Cordish Top Out 300-Unit One Rangers Way Apartments in Arlington, Texas

by John Nelson

ARLINGTON, TEXAS — Major League Baseball team the Texas Rangers and The Cordish Cos. have topped out One Rangers Way, a 300-unit apartment development in the Dallas suburb of Arlington. The community is the multifamily component of Cordish’s Arlington Entertainment District and is situated steps away from Globe Life Field, the home ballpark of the Rangers. One Rangers Way will offer a mix of studio, one- and two-bedroom apartments with rental rates starting at the $1,500s, as well as penthouses with rates starting in the $4,000s. Each apartment will feature high-end interior finishes and appliances, including in-unit washers and dryers, high ceilings and floor-to-ceiling windows. Each of the community’s 52 floor plans are named after Rangers players or significant events, including the team’s 2023 World Series title. “One Rangers Way will bring an upscale residential component to the Arlington Entertainment District, which has become one of the fastest-growing sports and entertainment destinations in the country,” says Ray Davis, managing partner and majority owner of the Rangers. “This project also reflects the tradition of the Rangers as many of the franchise’s legendary players are being incorporated into the branding of the building.” The property will feature 43,000 square feet of amenities, including an …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts