Sunday, July 27, 2025
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Development

DevelopmentIndustrialSoutheastTennessee

Urban Story Ventures to Invest $28M for New Industrial Facility in Chattanooga

by John Nelson

CHATTANOOGA, TENN. — Urban Story Ventures plans to invest $28 million for the development of a new industrial facility located within the Centre South Riverport Industrial Park in Chattanooga. The property will be situated on a 19-acre site along Amnicola Highway and the Tennessee River. The new industrial/flex facility will include at least 185,000 square feet of light to heavy industrial or logistics space, with the potential for 40,000 square feet of mezzanine space. Urban Story Ventures plans for the facility to feature several loading docks, ample parking and gated entry. The design-build team includes general contractor Grace Construction and architect Method Architecture. The construction timeline was not disclosed, though the locally based developer plans to break ground on Thursday, March 21.

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

Beacon Communities Completes 210-Unit Affordable Housing Redevelopment Project in Boston

by Taylor Williams

BOSTON — Nonprofit owner-operator Beacon Communities has completed a 210-unit affordable housing redevelopment project in Boston’s Back Bay neighborhood. The project converted a historic YWCA building that was originally constructed in 1929 into a residential complex for low-income renters and formerly homeless individuals. The property at 140 Clarendon St. now features studio and one-bedroom units and amenities such as a fitness center, community room, library, computer learning center and a wellness office. The redevelopment preserved the spaces of Lyric Stage Co., the Snowden School and other nonprofits currently residing in the building.

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Alder-Boston
DevelopmentMassachusettsMultifamilyNortheast

Bozzuto Begins Leasing 165-Unit Apartment Complex in Boston

by Taylor Williams

BOSTON — Maryland-based owner-operator Bozzuto has begun leasing Alder, a 165-unit apartment complex located within the Allston Yards mixed-use development in Boston. Alder offers studio, one-, two- and three-bedroom floor plans, with 21 units reserved as affordable housing. Amenities include a fitness center, game room, pet spa, concierge service, outdoor deck, library and a package room. A 52,000-square-foot Stop & Shop grocery store will also open in Alder’s ground floor this summer. Rents start at $2,900 per month for a studio apartment.

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16705-Via-Del-Campo-Ct-Rancho-Bernardo-CA
CaliforniaDevelopmentIndustrialOfficeWestern

Drawbridge Realty Completes Construction of 80,720 SF Office/R&D Property in San Diego

by Amy Works

SAN DIEGO — Drawbridge Realty has completed 16705 Via Del Campo Court, a speculative office and R&D property in Rancho Bernardo, a master-planned community in northern San Diego. The three-story, Class A building is the first speculative office building to be constructed in the Rancho Bernardo market in more than a decade. The three-story, 80,720-square-foot building features large, efficient floor plates with 15-foot floor-to-floor ceiling heights, expansive window lines, outdoor patios on the ground level and third floor, and surface parking for more than 300 vehicles. Netherlands-based semiconductor manufacturer ASML (NASDAQ: ASML) has leased the top two floors, totaling 55,227 square feet. The first floor, totaling 25,493 square feet, is currently available for lease and being marketed by Jay Alexander and Tim Olson of JLL.

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DevelopmentIllinoisLeasing ActivityMidwestMultifamily

Habitat Begins Pre-Leasing Efforts for 33-Story Cassidy on Canal Luxury Apartment Tower in Chicago

by Kristin Harlow

CHICAGO — Chicago-based Habitat has begun pre-leasing efforts for Cassidy on Canal, a 33-story luxury apartment tower in Chicago’s Fulton River District. The property at 350 N. Canal St. features 343 units in a variety of layouts ranging from studios to penthouses. Additional features of the project include 1,313 square feet of ground-floor retail space, parking for 123 vehicles and an outdoor dog run just northwest of the building. Amenities include a 10,000-square-foot outdoor deck off the building’s fifth floor with landscaped grounds, a pool, lounge seating, fire pits, grilling areas, heaters and dining areas. Inside, residents will have access to a fitness center with practice studios, a game room, clubrooms, a coworking center and a spa with sauna, steam and whirlpool rooms. The first resident move-ins are expected in May. Rents will range from $2,550 to $5,660 per month. Penthouse units will go for up to $10,810 per month. The project site was formerly home to the Cassidy Tire building. Architecture firm Solomon Cordwell Buenz designed the new glass tower. The joint venture partner on the project is Diversified Real Estate Capital LLC, with James McHugh Construction Co. serving as general contractor.

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Belmont-Logistics_Woodbridge-Va
DevelopmentIndustrialProperty TypeSoutheastTop StoriesVirginia

IDI Breaks Ground on $110M Belmont Logistics Campus Near Washington, D.C. 

by Hayden Spiess

WOODBRIDGE, VA. — The IDI Group Cos. (IDI) and its development partners have broken ground on Belmont Logistics, a $110 million industrial campus located in Woodbridge, roughly 25 miles southwest of Washington, D.C. According to the developer, the project marks the only new industrial project along Northern Virginia’s I-95 corridor so far this year.  Upon completion, the development will feature three tilt-up concrete buildings totaling 416,000 square feet situated on 36.6 acres. Additionally, the development will include 540 car parking spaces, 40 trailer parking spaces and 55,000 square feet of additional storage space.  Belmont Logistics will be developed in two phases, with the first phase comprising a 110,000-square-foot warehouse on 9.5 acres. Completion of the first phase is scheduled for the end of this year. Delivery of the campus in its entirety is scheduled for 2026.  Offering connectivity to I-95, the location is situated roughly 30 miles from Dulles International Airport and 20 miles from Reagan National Airport.  In addition to IDI, the joint venture developing the campus includes landowners ACD Precast LLC and the Carosi family. RW Murray is the general contractor for the project, which MGMA designed. Keystone National Group is providing an undisclosed amount of financing for …

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Wells-Fargo-Irving
DevelopmentOfficeTexas

KDC Tops Out 850,000 SF Office Campus for Wells Fargo in Irving

by Taylor Williams

IRVING, TEXAS — Locally based developer KDC has topped out the 850,000-square-foot office campus in Irving’s Las Colinas district that will serve as the new regional headquarters for Wells Fargo. The campus will consist of two 10-story, 400,000-square-foot buildings and a connecting parking garage, as well as various open green spaces, all on a 22-acre site. The San Francisco-based bank is consolidating its regional real estate footprint and expects to employ about 3,000 people at the campus, inclusive of the hiring of 650 new staffers. Completion is slated for late 2025. Project partners include architect Corgan, civil and landscape engineer Kimley-Horn and general contractor Austin Commercial.

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DevelopmentIndustrialTexas

Gillett Commercial Nears Completion of 71,920 SF Spec Industrial Flex Project in Metro Dallas

by Taylor Williams

ALLEN, TEXAS — Gillett Commercial, a developer with offices in Texas and California, is nearing completion of a 71,920-square-foot industrial flex project in the northeastern Dallas suburb of Allen. Allen Exchange consists of three buildings that were developed on a speculative basis, the largest of which spans 50,864 square feet, sits on 3.6 acres and includes office and showroom space. The other two buildings total 10,500 square feet. Raymond Construction is the general contractor for the project, which is slated for an April delivery. Citadel Partners is marketing the development for sale and/or lease.

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DevelopmentIndustrialLife SciencesMassachusettsNortheast

Partnership Delivers 168,000 SF Life Sciences, Manufacturing Project in Bedford, Massachusetts

by Taylor Williams

BEDFORD, MASS. — A partnership between Redgate, Optimum Asset Management and AEW Capital Management has delivered Riverwalk Labs, a 168,000-square-foot life sciences and manufacturing project in Bedford, about 20 miles northwest of Boston. The developers converted a former office building into a facility with 20,000-square-foot lab and office suites, as well as four separate tenant lobbies and multiple loading docks. Ci Design served as the project architect, and J. Calnan & Associates served as the general contractor.

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DevelopmentMultifamilyNew JerseyNortheast

Garden Communities Begins Leasing 126-Unit Apartment Complex in Florham Park, New Jersey

by Taylor Williams

FLORHAM PARK, N.J. — Locally based developer Garden Communities has begun leasing 147 Columbia, a 126-unit apartment complex in the Northern New Jersey community of Florham Park. The site formerly housed an office building, and the redevelopment began last year. Units come in one- and two-bedroom floor plans and range in size from 861 to 1,535 square feet. Residences are furnished with stainless steel appliances, custom cabinetry and individual washers and dryers. Rents start at $2,600 per month for a one-bedroom apartment.

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