DALLAS — A partnership between two Dallas-based firms, Lincoln Property Co. and Tradition Holdings, as well as infrastructure provider Gigabit Fiber, will develop an 800,000-square-foot data center campus in South Dallas. The site spans 131 acres in the Red Oak submarket. The campus will comprise four facilities that will have a total power capacity of up to 540 megawatts at full build-out and that will support users in cloud computing and artificial intelligence, among others. Construction will be carried out in phases, starting with the development of a 7,500-square-foot, two-megawatt facility in the first quarter. A completion date for the entire development was not disclosed.
FORT WORTH, TEXAS — Affinius Capital has provided a $77.4 million construction loan for West Worth Commerce Center, a 992,000-square-foot industrial project in Fort Worth. The site is located off I-820 between interstates 30 and 20, and the development will consist of four buildings that will feature 32- to-36-foot clear heights, 274 dock-high doors, 12 drive-in doors and parking for 235 trailers and 912 cars. The borrower is a joint venture between Forefront Commercial Real Estate and a fund backed by Ares Management Real Estate. A tentative completion date for West Worth Commerce Center was not disclosed.
FORT WORTH, TEXAS — Trademark Property Co. has topped out The Vickery, a 321-unit multifamily project in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery will consist of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge, as well as an amenitized green space. Residential amenities will include a pool, rooftop lounge and coworking space. Construction began in February 2024 and is expected to be complete this spring.
SAN ANTONIO — Locally based firm CBG Real Estate will undertake a hotel redevelopment project in northeast San Antonio. CBG will redevelop an existing hotel located at the intersection of Perrin Beitel Road and Loop 410 near San Antonio International Airport into a 165-room, dual-branded property. The new hotel will be operated under the La Quinta and Hawthorn Extended Stay by Wyndham brands and will offer amenities such as a fitness center, outdoor grilling and picnic areas and meeting/event space. The project is expected to be complete before the end of the year.
PITTSBURGH — Locally based developer Piatt Cos. has unveiled plans for The Esplanade, a $600 million, 1.7 million-square-foot mixed-use project in Pittsburgh. The site, which formerly supported industrial uses, spans 15 acres along the Ohio River on the city’s north side. Residential plans for The Esplanade currently call for more than 400 apartments, 20 percent of which will be reserved as affordable housing, as well as 105 condominium units. In addition, the development will feature roughly 8 acres of public green space, a 225-room hotel with meeting and event space and retail and entertainment uses such as an aquarium, grocery store, museum, splash park, walking trails, public art installations and a Ferris wheel. According to multiple local news sources, including the Pittsburgh Post-Gazette, Piatt Cos. received approval in November from the City Planning Commission for the project, which is expected to generate $75.3 million in annual economic impact for the region, as well as to support the creation of more than 7,000 jobs.
Waterton Provides $69.2M Senior Construction Loan for Apartment Development in Vancouver, Washington
VANCOUVER, WASH. — Waterton, in partnership with Strathcona Capital, has provided a $69.2 million senior construction loan for the development of 12th & Main, a seven-story mid-rise apartment building in Vancouver. The borrower, Oregon-based Pahlisch Commercial, started construction in December 2024 on the project that is slated for completion in 2027. Totaling 198 units, 12th & Main will offer studio, one- and two-bedroom floor plans and an amenity package including a 24-hour fitness center, rooftop lounge with river views, dog wash station, game room, remote work offices, electric vehicle charging stations and a steam shower and sauna. Additionally, the property will include 21,359 square feet of ground-floor commercial space. Pahlisch Commercial will occupy roughly half of the ground-floor space as its headquarters office.
COLLINSVILLE, ILL. — Contegra Construction Co. has completed Eastport Commerce Center, a 75,000-square-foot office and distribution center in Collinsville, a northeast suburb of St. Louis. BHMG Engineers has leased 25,000 square feet at the property. The space replaces BHMG’s existing 5,000-square-foot office at 1902 Vandalia St. in Collinsville. The building features a clear height of 28 feet, four dock doors, three drive-in doors and 160 parking spaces.
KANSAS CITY, MO. — Revitalization Unlimited, a fund dedicated to preserving historically significant U.S. real estate and legacy industrial businesses, has unveiled plans to invest $3.2 million in the renovation of The Garment House, an historic office building in downtown Kansas City. Revitalization Unlimited is collaborating with property owner 10 Broadway LLC and Haith & Co. Inc. Revitalization Unlimited has committed $3.2 million to the restoration, with an additional $3 to $4 million allocated for renovations. Plans include modern upgrades and the creation of a diverse tenant mix featuring restaurants, bars, catering spaces and entertainment venues. Targeted rents are projected at $20 per square foot, with $1 million in tenant improvement allowances available for qualifying tenants.
BENSENVILLE, ILL. — Krusinski Construction Co. has completed an industrial redevelopment project for developer Dayton Street Partners in the Chicago suburb of Bensenville. Krusinski revitalized an existing building by completing selective demolition and enhancing the space with a more efficient layout. The original facility was converted into a 33,000-square-foot terminal with 37 newly installed dock doors and an attached 2,000-square-foot, two-story office. The interior refresh included new bathrooms, flooring, paint and mechanical, electrical and plumbing upgrades. Krusinski also completed upgrades to the storm systems, installed new concrete aprons and performed select paving improvements. The project team included Space Co and A+M Architects.
PRINCE GEORGE, VA. — Lingerfelt has formed a joint venture with SCOA Real Estate Partners, a wholly owned subsidiary of Sumitomo Corp., for the development of a 347,760-square-foot industrial facility in Prince George. Situated at the confluence of I-295, I-95 and Route 460 on Richmond’s south side, the development is dubbed TriPoint Distribution Center. The project broke ground last September and is set for completion this August. The joint venture has selected CBRE to lease and market the development, which ARCO is constructing on behalf of ownership.