Sunday, November 9, 2025
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DevelopmentIllinoisMidwest

City Council Approves New Chicago Fire FC Stadium

by Kristin Harlow

CHICAGO — The Chicago City Council has approved the Chicago Fire FC’s new privately funded stadium. The Major League Soccer franchise first unveiled plans for the $650 million development in June. The soccer-specific stadium will be financed by the club’s owner and chairman, Joe Mansueto. The project will anchor The 78, Related Midwest’s 62-acre development along the Chicago River just south of Roosevelt Road. Designed by Gensler, the stadium will seat approximately 22,000 fans. Construction of The 78 is expected to begin by the beginning of 2026, and the stadium is anticipated to open in 2028. “This will be the first major stadium built in Chicago in three decades,” says Dave Baldwin, Chicago Fire FC president of business operations. “Beyond Chicago Fire matches, the stadium will attract global concerts and events, creating thousands of jobs, fueling economic growth and driving new energy into the South Loop.”

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DevelopmentIllinoisIndustrialMidwest

Opus Breaks Ground on 52,174 SF Build-to-Suit Facility for Elgin Recycling in Gilberts, Illinois

by Kristin Harlow

GILBERTS, ILL. — Opus has broken ground on a 52,174-square-foot build-to-suit facility for Elgin Recycling in Gilberts, about 50 miles northwest of Chicago. The project will be part of Turnberry Lakes Business Park, where Elgin Recycling’s headquarters and one its four Chicago-area recycling scrap yards are also located. Elgin Recycling is a family-owned operation that processes ferrous and non-ferrous metals, exotic alloys and electronics. The new Gilberts location will process recycled electronics from public drop-off facilities, breaking them down into components that will then be transported to electronics components recyclers. The Gilberts facility will feature a clear height of 28 feet, six dock doors, two drive-in doors and up to 58 vehicle parking stalls. Opus is the design-builder for the project and is working in partnership with Architects Plus Design Studio PLLC, the architect of record, and Structural Integrity Inc., the structural engineer of record. Completion is slated for January.

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DevelopmentFloridaIndustrialSoutheast

Foundry, Wheelock Street Capital to Develop 474,000 SF Festival Logistics Park in South Florida

by John Nelson

POMPANO BEACH, FLA. — A partnership between Foundry Commercial and Wheelock Street Capital has purchased the former Festival Flea Market site at 2900 W. Sample Road in Pompano Beach. The duo plans to transform the 25-acre property into Festival Logistics Park, a 474,000-square-foot development with three buildings ranging in size from 60,000 to 300,000 square feet. Two of the buildings will front Sample Road, and all buildings will feature 32- to 36-foot clear heights, ESFR sprinkler systems, dock-high loading and ample parking. Foundry and Wheelock Street Capital plan to begin demolition of existing structures on the Festival site in the fourth quarter and deliver the park by the end of 2026. The co-developers have tapped Nick Wigoda and Steve Medwin of Stream Realty Partners to manage leasing at Festival Logistics Park.

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DevelopmentMultifamilyTexas

JPI Breaks Ground on $132M Workforce Housing Project in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Locally based multifamily developer JPI has broken ground on Jefferson Bonnie Brae, a $132 million workforce housing project that will be located in the North Texas city of Denton. Jefferson Bonnie Brae will consist of five residential buildings and one leasing and amenity building. Of the development’s 461 units, 66 percent will be one-bedroom apartments, 30 percent will be two-bedroom residences and 4 percent will be three-bedroom units. Amenities will include a pool, fitness center, dog park, pickleball court and open green spaces. The first units are expected to be available for occupancy in the third quarter of next year, with full completion slated for 2027.

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DevelopmentMassachusettsNortheastRetail

Simon Begins Redevelopment of Shops at Chestnut Hill in Metro Boston

by Taylor Williams

CHESTNUT HILL, MASS. — Simon Property Group has begun the redevelopment of The Shops at Chestnut Hill, a shopping, dining and entertainment destination located on the western outskirts of Boston. The project will include a full repainting of the center’s interiors, the installation of a new lighting system, as well as fresh artwork and decor throughout the center, and a refreshing of the indoor garden area. Simon will also upgrade the center’s flooring, facades and restrooms. The project is expected to be substantially complete by the end of the year. The Shops at Chestnut Hill is currently home to about 50 retail and restaurant establishments, including the only Bloomingdale’s in Massachusetts.

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DevelopmentFloridaIndustrialSoutheast

Miller Construction Underway on $31M Expansion of Sherwin-Williams Distribution Center in Central Florida

by John Nelson

WINTER HAVEN, FLA. — Miller Construction is underway on the $31 million expansion of the Sherwin-Williams Distribution Service Center in Winter Haven. Using tilt-wall construction, the general contractor is adding 296,705 square feet spread across two large warehouses, a truck maintenance building, trailer maintenance building and offices. The new construction adds 298,151 square feet (including a pergola area), which is an expansion of approximately 79 percent of the existing 384,000 square-foot facility. Additionally, Miller Construction is upgrading 3,386 square feet of existing office space and expanding the existing South Building with a 49-foot clear-height ceiling and 15,120 square feet of new exterior wall, while the North Building is receiving a 28-foot clear-height ceiling and 2,904 square feet of new exterior wall. The project team includes C4 (architects and MEP), Richard Adams Engineers (structural), Structural Services Inc. (slab consultant) and Kimley-Horn (civil engineer).

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DevelopmentFloridaLoansSelf-StorageSoutheast

MMCC Secures $14.5M Construction Financing for Self-Storage Project in Homestead, Florida

by John Nelson

HOMESTEAD, FLA. — Marcus & Millichap Capital Corp. (MMCC) has secured $14.5 million in construction financing for the development of a 1,038-unit self-storage facility at 1995 N.E. 8th St. in Homestead, about 32 miles south of Miami. The 135,800-square-foot property will operate as an Extra Space Storage facility. Robert Bhat of MMCC’s Miami office arranged the five-year loan through a local bank on behalf of the borrower, an undisclosed self-storage developer. The loan features a floating interest rate underwritten as 250 basis points above 1-month SOFR for the first three years with 36 months of interest-only payments.

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DevelopmentIndustrialNevadaWestern

Lincoln Completes 1.6 MSF Windsor Commerce Park in Las Vegas

by Amy Works

LAS VEGAS — Lincoln Property Co. has completed Windsor Commerce Park, the company’s first-ever ground-up industrial development in the Las Vegas market. Situated on 86 acres, the 1.6 million-square-foot Windsor Commerce Park features eight buildings ranging from 49,920 square feet to 397,440 square feet. Buildings offer rear loading and cross-dock configurations, up to 36-foot clear heights, up to 4,000 amps of power, large clerestory windows and move-in-ready speculative office suites. The property is nearly 50 percent leased with tenants including regional, national and global operators specializing in HVAC, logistics and e-commerce. The project team includes Lee & Sakahara as architect and R&O Construction. Kevin Higgins, Garrett Toft, Jake Higgins and Kelsey Higgins of CBRE are handling leasing for the project.

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CaliforniaDevelopmentLoansRetailWestern

JLL Secures $27M Construction Loan for Retail Project in Rocklin, California

by Amy Works

ROCKLIN, CALIF. — JLL Capital Markets, on behalf of Blue Coast Capital, has arranged a $27 million construction loan for Whitney Ranch Retail Center, a to-be-built, 52,200-square-foot neighborhood retail center in the Whitney Ranch community of Rocklin. The three-year construction loan was secured with U.S. Bank. Slated for completion in 2026, Whitney Ranch Retail Center will include 35,000 square feet of inline and standalone retail, as well as five ground-leased pad sites totaling 17,200 square feet. The property will be shadow anchored by Nugget Markets, an upscale supermarket chain with 16 locations across Northern California.

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DevelopmentIllinoisMidwestMultifamily

Continental Properties Completes 336-Unit Apartment Development in South Elgin, Illinois

by Kristin Harlow

SOUTH ELGIN, ILL. — Continental Properties has opened Authentix South Elgin, a 336-unit, garden-style apartment community in South Elgin. Located at 1300 N. Lancaster Road, the property features a mix of studio, one-, two- and three-bedroom units. Amenities include a resort-style pool, community clubhouse with a coffee bar, outdoor grill area, 24-hour fitness center, two pet playgrounds and a pet spa. Authentix Apartments, owned and operated by Continental Properties, is a national brand of garden-style communities.

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