Monday, September 14, 2026
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DevelopmentSoutheastStudent HousingTennessee

RISE, University of Tennessee Complete 1,024-Bed Residence Hall

by John Nelson

KNOXVILLE, TENN. — A public-private partnership between RISE: A Real Estate Co. and the University of Tennessee has completed Torchbearer Hall, a 1,024-bed residence hall development on the institution’s campus in Knoxville. The project is Phase II of a larger development plan that has delivered 3,000 beds to date. The property features a centralized hub with reception areas, staff offices, community kitchens and lounges. Additional shared amenities include study rooms, multipurpose spaces, resident gathering areas and laundry facilities. The development team for Torchbearer Hall included Niles Bolton Associates, Cope Architecture, Blaine Construction, Brailsford & Dunlavey, RBC Capital Markets and Provident Resources Group.

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AcquisitionsDevelopmentIllinoisIndustrialMidwest

Prologis to Develop 1 MSF Logistics Facility in Minooka, Illinois

by Kristin Harlow

MINOOKA, ILL. — Prologis has acquired 69 acres in Minooka within Chicago’s I-80 submarket with plans to develop Minooka Exchange, a 1 million-square-foot logistics facility. The single-story, cross-dock building will feature a clear height of 40 feet, 290 car parking spaces and an 185-foot truck court. The site is adjacent to Canadian National Railway’s Chicago Logistics Hub, which is under construction. Prologis expects to break ground in the coming weeks.

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DevelopmentKansasMidwestMultifamily

Hoefer Welker Designs 192-Unit Apartment Project in Topeka, Kansas

by Kristin Harlow

TOPEKA, KAN. — Hoefer Welker has designed The Hutch, a 192-unit apartment project slated to break ground in October in Topeka. Plans call for 2,500 square feet of ground-floor retail space and 5,500 square feet of resident amenities, including a rooftop viewing deck overlooking the State Capitol, a courtyard pool, fitness center, speakeasy lounge, dog park and mini-park. The four-story, 400,000-square-foot development will be situated adjacent to a newly renovated public parking structure.

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259-Lenox-St.-Norwood-Massachusetts
DevelopmentLoansMassachusettsMultifamilyNortheast

Colliers Arranges $44.5M Construction Loan for Multifamily Project in Norwood, Massachusetts

by Taylor Williams

NORWOOD, MASS. — Colliers has arranged the $44.5 million construction loan for a 145-unit multifamily project in Norwood, located southwest of Boston. The site is located at 259 Lenox St., and the new five-story building will offer studio, one- and two-bedroom units, 20 percent of which will be earmarked as affordable housing. Amenities will include an outdoor pool, fitness center, golf simulator, coworking spaces and grilling and dining stations. Patrick Boyle, Matt Lombardi Jr. and Rose Liu of Colliers arranged the loan through Beacon Bank on behalf of the developer, Tremont Asset Management.

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17140-W-Waddell-Rd-Surprise-AZ
AcquisitionsArizonaDevelopmentIndustrialSelf-StorageWestern

Basis Industrial Buys Land in Surprise, Arizona for Development of 707-Unit Self-Storage Facility

by Amy Works

SURPRISE, ARIZ. — Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, Fla., has acquired a land parcel at 17140 W. Waddell Road in Surprise for the development of a self-storage facility. Additionally, Basis Industrial closed on a $20.5 million construction loan for the project. NexBank and NexPoint provided the construction financing. The development will encompass approximately 102,673 square feet with 707 climate-controlled storage units upon completion. Construction is expected to begin later this year, with completion and opening slated for fall 2027. The project will be situated within the Truman Ranch master-planned community, including more than 600 new apartment units.

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DevelopmentNew JerseyNortheastOffice

Larken Associates Completes Renovation of 67,040 SF Office Building in Flemington, New Jersey

by Taylor Williams

FLEMINGTON, N.J. — Locally based owner-operator Larken Associates has completed the renovation of Raritan Commons, a 67,040-square-foot office building in Flemington, about 60 miles southwest of Manhattan. Renovations included upgrades to common areas and hallways, including new sconces and LED lighting, furniture, signage, flooring, wallpaper and wall paintings. Additionally, the firm remodeled common-area bathrooms with new flooring, walls, fixtures, lighting, countertops and partitions.

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CaliforniaDevelopmentLoansRetailWestern

HKS Real Estate Arranges $7.8M in Construction Financing for Two Retail Developments in California

by Amy Works

FRESNO AND CLOVIS, CALIF. — HKS Real Estate Advisors has arranged $7.8 million in construction financing for two ground-up retail developments in Fresno and Clovis. Alex Dobosh and Andrew Pilchick of HKS secured the loans through North American Savings Bank on behalf of the borrower, Bottom Line Group. The first project will be a 4,771-square-foot 7-Eleven convenience store and gas station located in Fresno. The second project, which will total 11,353 square feet, will feature another 7-Eleven and a three-unit retail building in Clovis. Chipotle Mexican Grill and Phoenician Express have already committed as tenants at the property.

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DevelopmentIndustrialLeasing ActivityMichiganMidwest

Amazon Occupies 312,474 SF Industrial Building in Romulus, Michigan

by Kristin Harlow

ROMULUS, MICH. — Amazon has moved into Building 4 at Romulus Trade Center in Michigan. Contegra Construction completed the 312,474-square-foot industrial building on behalf of NorthPoint Development. The property was completed in June after a seven-month construction process and joins five other buildings in the industrial park, which is located on the other side of I-94 from Detroit Metropolitan Wayne County Airport. Built on a speculative basis, the property features rear-loading and cross-docked options, LED lighting and 45,000-pound dock levelers. Prior to completing Building 4, Contegra began construction on Building 6 in the same development. The 282,909-square-foot, single-load building is slated for completion in November. Romulus Trade Center is slated to total nearly 2 million square feet across six buildings. The development will also include a 27-acre retail corridor, including Michigan’s first Sheetz convenience store and a Tesla Supercharger station. Contegra worked with subcontractors D&R Earth Moving, B&B Concrete Placement, Southern Roots Steel Erectors and Daniel’s Glass.

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DevelopmentFloridaHospitalityLoansSoutheast

IPA Arranges $75.1M Recapitalization for Monroe Hotel in Miami Beach

by John Nelson

MIAMI BEACH, FLA. — IPA Capital Markets, a division of Marcus & Millichap, has arranged the $75.1 million recapitalization of The Monroe Hotel, an 89-room luxury boutique hotel underway in Miami Beach. Situated in the city’s Faena District, the property is a $125.5 million redevelopment of 3010 Collins Ave. and is slated to open in 2027. The property will include a full-service restaurant and bar, rooftop bar and event venue, in-house recording studio, pool with outdoor dining space, spa, fitness center and private beach service provided by Boucher Brothers. The recapitalization included $44 million in C-PACE financing from Nuveen Green Capital, $24.8 million in construction debt from City National Bank, $6.3 million in bridge financing from Midland States Bank and historic tax credit equity financing from PNC Bank. Bobby Werhane and Scott Raasch of IPA Capital Markets arranged the financing package for the undisclosed borrower.

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DevelopmentIndustrialNorth CarolinaSoutheast

Davis Cos., Intersect to Develop 462,000 SF Industrial Facility in Gastonia, North Carolina

by John Nelson

GASTONIA, N.C. — A joint venture between The Davis Cos. and Intersect Development Group has plans to develop a 462,000-square-foot industrial facility located at 2550 Jenkins Dairy Road in Gastonia, a western suburb of Charlotte along I-85. The cross-dock building, which can accommodate logistics or manufacturing users, will feature 40-foot clear heights, 100 dock doors, 215 trailer parking spaces, 328 auto parking spaces, ESFR sprinkler system and a secured truck court. Davis and Intersect plan to deliver the project in January 2027.

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