ESTERO, FLA. — Winter Garden, Fla.-based WMG Development has opened Shoppes at Verdana Village, a 78,000-square-foot retail center in Estero. Publix anchors the southwest Florida property. Other tenants at the center include Publix Liquor, Heartland Dental, The Nail Spa Estero, New York Pizza & Pasta, Dunkin’ and The UPS Store. WMG acquired the land from Cameratta Cos., master developer of the larger Verdana Village development.
SIOUX FALLS, S.D. — U-Haul has broken ground on a 1,400-unit self-storage facility located at 3500 Powder House Road in Sioux Falls. Named U-Haul Moving & Storage of Veterans Parkway, the development is slated for completion in early 2025. The eight-acre property will include two three-story buildings with 700 units each. Customers will have 24-hour access, and units will include high-end security features. Plans call for a separate warehouse to hold 1,250 mobile storage containers. Customers will also have access to moving trucks, trailers, boxes and packing supplies, professional hitch installation and towing equipment.
DEERFIELD BEACH, FLA. — Grover Corlew has received final site plan approval for the addition of 360 residential units and renovations to existing office buildings within the Hillsboro Center master-planned development at 600 and 700 Hillsboro Blvd. in Deerfield Beach, a city in South Florida’s Broward County. The developer has also been approved for the demolition of 45,000 square feet of existing two-story office space at the site. The residential units will be Mayla-branded luxury apartments. Plans also include upgrades to nearby public streets, parks, traffic signals and intersections, as well as onsite public plazas and a new road through the development. Grover Corlew is scheduled to break ground on the project in late 2025. The developer has already invested more than $10 million in interior renovations at 600 and 700 Hillsboro Blvd. Office tenants including GardaWorld Security Corp., Tomberg, Morris & Poulin and The Craneware Group have signed leases for more than 20,000 square feet of space at the property.
LEHIGH ACRES, FLA. — CBRE has brokered the $4.5 million sale of a self-storage development site located in Lehigh Acres, a city in Southwest Florida’s Lee County. A private investor acquired the 87,813-square-foot property, which is situated at 511 Lee Blvd. Upon completion, the development will feature 971 climate-controlled self-storage units. CBRE’s Self Storage Advisory Group represented the seller, a private investor, in the transaction.
AUSTIN, TEXAS — Chicago-based Logistics Property Co. will develop a two-building, 408,000-square-foot industrial project at 12821 Titanium St. in northeast Austin. The site is roughly one mile from State Highway 130 and 15 miles from the downtown area. The development will consist of a 175,000-square-foot rear-load building and a 233,000-square-foot cross-dock building. Construction is slated to begin in the second quarter and to last about a year. Locally based brokerage firm AQUILA Commercial will market the property for lease.
TOMBALL, TEXAS — Locally based developer McGrath Real Estate Partners has completed Adora on Rosehill, a 336-unit multifamily project located in the northeastern Houston suburb of Tomball. The site spans 15.4 acres, and the building houses one-, two- and three-bedroom units that range in size from 599 to 1,393 square feet. Residences are furnished with stainless steel appliances, granite countertops, custom cabinetry and individual washers and dryers. Amenities include a pool, business center, clubhouse, pickleball courts, outdoor lounge area and a dog park. Rents start at $1,350 per month for a one-bedroom apartment.
GEORGETOWN, TEXAS — San Antonio-based Jefferson Bank has provided a $20 million construction loan for Phase I of The Preserve, a mixed-use project in the northern Austin suburb of Georgetown. Phase I will feature two industrial flex buildings, two retail buildings and one office building totaling 50,700 square feet across the five structures. The borrower, locally based developer OM Properties, expects for construction of Phase I to last 18 to 24 months. Other project partners include Mode Design Co. (architect), NAVCON Group (general contractor) and 2P Consultants (civil engineer).
HOBOKEN, N.J. — Madison Realty Capital has provided $97 million in financing for a project in the Northern New Jersey community of Hoboken that will convert a five-story industrial building into a 110-unit multifamily complex. The new multifamily building will rise nine stories, feature for-sale units and include 50,000 square feet of retail space and a 300-space parking garage. Units will come in one- through five-bedroom floor plans, and amenities will include a pool, fitness center, clubroom, lounge and grilling areas. Construction is underway and slated for a third-quarter 2025 completion. The borrower is Taurasi Group.
WEST CHESTER, OHIO — Graycor Construction Co. has completed a 125,000-square-foot Bass Pro Shops Outdoor World store in West Chester near Cincinnati. The store is located at 5951 Bass Pro Drive at the intersection of I-75 and Allen Road. The development includes a fire watch tower, archery range, aquarium, exterior decorative water feature and boat showroom. Torgerson Design Partners was the architect. Graycor has now completed seven Bass Pro Shops.
OMAHA, NEB. — Darland Construction Co. has completed a more than 61,000-square-foot warehouse near the intersection of Highway 50 and I-80 in Omaha. The building features a clear height of 26 feet, eight dock doors and interstate signage. Preliminary budgeting for the project began in 2018, but concerns about rising prices and labor shortages during the pandemic put the project on hold, according to Darland. Investors Realty negotiated a full-building lease for Southern Carlson before the building was completed. The tenant is a commercial tool, fastener and jobsite supply company.
