Tuesday, July 7, 2026
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DevelopmentIndustrialMidwestMinnesota

Standard, Endeavor Complete 174,288 SF Cobalt Business Center in Metro Minneapolis

by Kristin Harlow

MENDOTA HEIGHTS, MINN. — Standard Real Estate Investments LP and Endeavor Development have completed Cobalt Business Center, a 174,288-square-foot industrial facility in the Minneapolis suburb of Mendota Heights. The project was fully preleased prior to completion to a single tenant. Located on a 10-acre infill site, Cobalt Business Center is situated near the airport and features a clear height of 32 feet, 15 dock positions, motion-sensing LED light fixtures, ESFR fire protection and 4,000 amps of power. CBRE’s Jeff Przytarski, Bryan Van Hoof, James DePietro and Sam Manke represented ownership. Brian Netz and Eric Tomchik of Newmark represented the tenant.

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Jackson-Health
DevelopmentFloridaHealthcareSoutheast

Jackson Health Completes $400M Emergency Room Expansion in Miami

by Abby Cox

MIAMI — Jackson Health System has completed the first phase of the $400 million renovation and expansion of its emergency room at Jackson Memorial Hospital in Miami. The newly built, ground-up emergency room has doubled its original footprint, which now spans 178,000 square feet. Designed by HKS and built by Skanska, the project included the demolition of two existing buildings to create space for the expanded facility. Phase I of the renovation features 60 general exam rooms, four resuscitation rooms, six triage and 12 fast-track rooms, along with a second floor that comprises 50 observation rooms and seven acute care rooms. Patients also now have access to a full radiology suite with MRI, CT, X-ray and ultrasound capabilities, as well as an on-site pharmacy for immediate delivery of medications. Phase II of the project will continue to expand the existing 45,000-square-foot emergency room with 121 adult emergency rooms, dedicated behavioral health bays and 30 pediatric emergency rooms. Renovations are underway and scheduled for completion in 2027. Lastly, Phase III will further expand the emergency room through the addition of a third floor with more clinical space and a helipad for rapid transfers and life-saving arrivals.

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building-III-karis-speedway
DevelopmentFloridaIndustrialSoutheast

DSI, Karis Break Ground on Final Phase of Speedway Commerce Center in Daytona Beach, Florida

by Abby Cox

Daytona Beach, Fla. — Development Solutions Inc., in partnership with Karis and the City of Daytona Beach, has broken ground on the final phase of Speedway Commerce Center, an 808,693-square-foot industrial development underway in Daytona Beach. Designed by Lamar Johnson Collaborative (LJC) and constructed by DSI South, Building III will support the needs of logistics, distribution, manufacturing and e-commerce users. Building III will comprise 217,603 square feet and will feature 36-foot clear heights; 32 dock doors and two drive-in doors; 210 car parking spaces and 33 trailer stalls; an ESFR sprinkler system; and the ability to accommodate more than 20,000 square feet of office space and four tenants. The building is expected for delivery in the fourth quarter of 2026.

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One-Montague-Place_New-York-City
DevelopmentMixed-UseMultifamilyTop Stories

Landau Properties Breaks Ground on $550M Residential Project in Brooklyn

by Hayden Spiess

NEW YORK CITY — Landau Properties, in partnership with Third Millennium Group and Midtown Equities, has broken ground on a new residential development located in Brooklyn Heights. Project costs will total an estimated $550 million.  The developers received $213 million in financing for the first phase of the development in December 2025.  Upon completion, One Montague Place will comprise 46 luxury condominium residences, 90 multifamily units and 40,000 square feet of retail space. Condominiums at the development will span roughly 3,000 square feet and include three bedrooms. AECOM Tishman is leading construction on the project. The project team also includes Zarifi Design, Hill West Architects and Douglas Elliman.  “With world-class amenities and stunning skyline views, One Montague Place will redefine luxury residential living in the heart of Brooklyn, and we are honored to break ground on this game-changing project in conjunction with Landau Properties,” says Eric Reid, COO of AECOM Tishman. Completion of the development is scheduled for 2029.  Founded in 2022, Landau Properties develops, acquires and operates residential and commercial real estate properties in New York and South Florida.  — Hayden Spiess

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DevelopmentIndustrialMidwestOhio

IRG, PREP Funds to Renovate 160,000 SF Industrial Property in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — Industrial Realty Group LLC (IRG) and PREP Funds have acquired 5870 Poe Ave. in Dayton with plans to reposition the 160,000-square-foot property as Dayton Commerce Center. The asset is comprised of a 155,000-square-foot main building with 40,000 square feet of office space, six docks, four drive-in doors and heavy crane infrastructure. The property also includes a standalone 5,000-square-foot building. Both structures offer clear heights of 18 feet. Construction upgrades are slated to begin immediately, and ownership is actively marketing the space for lease.

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renley-office-to-residential-conversion
DevelopmentMultifamilyOfficeSoutheastVirginia

Gilbane Development Breaks Ground on Office-to-Residential Conversion Project in Arlington, Virginia

by Abby Cox

ARLINGTON, VA. — Gilbane Development has begun the conversion of a six-story, 121,200-square-foot vacant office building at 3601 Wilson Blvd. in Arlington’s Virginia Square neighborhood. Dubbed Renley, the redevelopment will deliver 94 multifamily units in one- through three-bedroom configurations. Situated adjacent to the Virginia Square-GMU Metro station, Renley is one of the first projects to leverage Arlington County’s updated adaptive reuse policy, which was adopted in November 2024. The policy was designed to streamline office-to-residential conversions and create incentives for developers to bring underutilized office buildings “back to life.” Renley is targeted for completion in April 2027. Gilbane Development originally acquired the property in March 2025.   The redevelopment plan will preserve the building’s exterior, while updating the entire interior. Resident amenities will include a wellness center, coworking spaces, lounges, gathering areas and tenant storage on every floor. Renley will also offer 5,637 square feet of ground-floor retail space and 207 parking spaces located in an underground garage.

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Building-C-Welcome-Venture-Park
DevelopmentIndustrialLeasing ActivityNorth CarolinaSoutheast

Welcome Group Inks Full-Building Industrial Lease in Durham, North Carolina Totaling 100,100 SF

by Abby Cox

DURHAM, N.C. — Welcome Group has executed a 100,100-square-foot full-building lease at Welcome Venture Park, an industrial and flex business park under construction in Durham. The undisclosed tenant will occupy Building C at the property. Larry Lakins, Andrew Young, Hunter Willard and Shields Liggett of Colliers represented Welcome Group, while Doug Brock of Newmark represented the tenant. Welcome Venture Park will total 1.3 million square feet across 10 buildings upon completion of all four phases. Phase I comprises nearly 395,000 square feet across four buildings and is more than 90 percent leased. Existing tenants include Cavalier Logistics, the Food Bank of Central & Eastern North Carolina, Great Day Improvements, Mobile Communications America (MCA), PEP Move and DeHaven’s Transfer & Storage. Scheduled for delivery in fall 2026, Phase IIA consists of Buildings C and H and totals approximately 200,550 square feet. Building C is fully leased, while Building H offers 100,450 square feet available for lease. City Bank is financing Phase IIA. Phase IIB, which will include an additional 439,560 square feet across Buildings I and J, is anticipated to deliver in late 2027 and early 2028. The overall development is designed to accommodate manufacturing, laboratory, warehouse, distribution and technology-focused users. …

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Pointe-Grand-Covington
DevelopmentGeorgiaMultifamilySoutheast

Hillpointe Opens 216-Unit Attainable Housing Community in Metro Atlanta

by Abby Cox

NEWTOWN COUNTY, GA. — Hillpointe has opened Pointe Grand Covington, a 216-unit attainable multifamily community located at 8000 Revolution Way in Covington, about 36 miles east of Atlanta. Pointe Grand Covington features two-bedroom residences with modern finishes, smart home technology and in-unit amenities, such as full-size washers and dryers, digital keyless entry and private patios or balconies. Community amenities at the pet-friendly property include a resort-style swimming pool, fitness center, pickleball court, electric vehicle charging stations and a variety of indoor and outdoor gathering spaces. 

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570-Eldert-Lane-Brooklyn
DevelopmentMultifamilyNew YorkNortheast

Partnership Breaks Ground on 213-Unit Multifamily Project in Brooklyn

by Taylor Williams

NEW YORK CITY — A joint venture between Slate Property Group and Thorobird Cos. has broken ground on a 213-unit multifamily project in Brooklyn. Designed by Think! Architecture + Design PLLC, the building will be located on a city-owned site at 570 Eldert Lane in the borough’s Cypress Hills area. Of the 213 units, which will come in one-, two-, three- and four-bedroom floor plans, 66 will be set aside for formerly homeless residents. The remaining units will be reserved for households earning between 40 and 80 percent of the area median income. Completion is slated for summer 2028, with full occupancy planned for 2029.

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Affordable HousingCaliforniaDevelopmentMultifamilyTop StoriesWestern

Kennedy Wilson, Jamison Plan to Develop 4,000 Affordable Housing Units in Los Angeles

by Kristin Harlow

LOS ANGELES — Kennedy Wilson and Jamison have entered into a joint venture partnership, with plans to deliver 4,000 affordable housing units across Los Angeles through adaptive reuse and ground-up construction projects. The partnership is between Jamison’s newly launched affordable housing division, Arden Residential, and Kennedy Wilson’s affordable housing development joint venture, Vintage Housing. The first project is the conversion of the former LA World Trade Center office complex at 350 S. Figueroa St. The 400,000-square-foot property will be transformed into 512 affordable housing units and renamed Sky Castle. Units will come in one-, two- and three-bedroom floor plans. Amenities will include community rooms, a dedicated coworking space, resident lounge, onsite storage, laundry rooms and mail parcel rooms. Development on the first phase of Sky Castle is expected to begin in August and will focus on the building’s concourse levels, creating 241 units for families earning between 30 and 80 percent of the area median income. Phase II, planned for the office tower above, will add 271 units. The City of Los Angeles has approved the project under its new adaptive reuse ordinance. “Together, we will develop thoughtfully designed housing for families, seniors and communities through both adaptive reuse conversions …

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