Development

Simon to Develop 100-Acre Sagefield Mixed-Use Center in South Nashville

by John Nelson November 4, 2025

NASHVILLE, TENN. — Simon Property Group (NYSE: SPG) plans to develop Sagefield, a 100-acre mixed-use destination that will be located on the south side of Nashville. The construction timeline for the project was not released. Situated in the hills of Williamson County, the planned project will feature lifestyle shops, restaurants and service retail spaces, as well as a landmark hotel by Author & Edit Hospitality, a hotel brand helmed by restaurateur and hotelier Sam Fox of Fox Restaurant Concepts. “This exciting new development will set a new standard for quiet luxury in metro Nashville and beyond,” says Eric Sadi, co-president of Simon’s North American real estate division. Simon is collaborating on Sagefield with Adventurous Journeys Capital Partners (AJ Capital), a Nashville-based firm that specializes in mixed-use and adaptive reuse development. Simon and AJ Capital are currently collaborating on Nashville Premium Outlets, a 325,000-square-foot outlet mall that will break ground next year in Thompson’s Station, Tenn. Plans for Sagefield also call for first-to-market boutique retailers, household-name operators, farm-to-table restaurants and cafés, an organic market, entertainment venues and health and wellness concepts. The development’s planned hotel will offer signature restaurants, a high-end spa, sports and a social members club. Simon says that …

November 4, 2025

Development Industrial Market Reports Texas Texas Market Reports

Industrial Design Requirements Shift Following Supply Boom in Major Texas Markets

by Taylor Williams November 4, 2025

Once upon a time, not so long ago, an industrial developer in Texas could pick an appropriately zoned spot on the map, throw up four walls and a roof, slap a few utilities in place and reasonably expect multiple tenants to quickly reach out and express a willingness to pay healthy rent for that space. That’s a colorful and simplified view of the pinnacle of the post-COVID Texas industrial market, but it’s not a farcical take. Between roughly early 2021 and mid-2023, phrases like “record-breaking,” “gangbusters” and “never seen anything like it,” were routinely used by brokers and owners alike to describe the state of industrial tenant demand. Combined with cheap debt and available equity, the ferocious need for warehouse, distribution and manufacturing space sparked absorption of older buildings and fresh capitalizations of new projects across all major markets. Tenants needed space yesterday, and supply chain disruptions — for developers and tenants — were simply a cost of doing business. And business was very, very good. Business is still good today. But the development landscape has undoubtedly shifted while the capital markets that govern said landscape have invariably cooled. New development, particularly in terms of equity, is significantly harder to …

November 4, 2025

Company News Development Maryland Mixed-Use Southeast

MAG Partners Exits $5.5B Baltimore Peninsula Development Team

by John Nelson November 3, 2025

BALTIMORE — MAG Partners has announced its exit from the master development team of Baltimore Peninsula, a $5.5 billion mixed-use development underway in south Baltimore. The multi-phase, 235-acre development, formerly branded as Port Covington, is led by Sagamore Ventures, a developer founded by Under Armour’s CEO Kevin Plank, as well as Goldman Sachs Urban Investment Group and the City of Baltimore. MacFarlane Partners has also been a member of the development team since joining alongside MAG Partners in 2022, but the San Francisco-based firm has also left the project, according to the Baltimore Business Journal. The news outlet also reported that MAG Partners will stay involved in several office leases in the works alongside leasing agent Courtenay Jenkins of Cushman & Wakefield. In its departure statement, MAG Partners says the firm was involved in opening 1.1 million square feet of commercial space at Baltimore Peninsula and stabilizing 450 apartments since joining the development team in May 2022. The Baltimore Business Journal reports that Sagamore Ventures is seeking out development partners for the remaining phases of Baltimore Peninsula.

November 3, 2025

Development Multifamily Texas

JPI Completes Two Apartment Communities Totaling 903 Units Within Frisco Mixed-Use Development

by Taylor Williams November 3, 2025

FRISCO, TEXAS — Locally based developer JPI has completed Jefferson Railhead and Jefferson Parkhouse, two apartment communities totaling 903 units in Frisco, located north of Dallas. The projects represent the first and second multifamily phases of Frisco Railhead, a $3 billion mixed-use development. Jefferson Railhead offers studio-, one- and two-bedroom units that are now 60 percent occupied. Jefferson Parkhouse offers similar floor plans, as well as three-bedroom units, and is now 17 percent occupied. Amenities at both properties include pools with cabanas and sundecks, fitness centers and coworking lounges with private conference and whisper rooms. Frisco Railhead will ultimately comprise 1,300 multifamily units, a 17-story hotel with condominiums on the top two floors, 36,000 square feet of retail space, a 1.5 million-square-foot office campus and a 5-acre central park.

November 3, 2025

Development Mixed-Use South Carolina Southeast

HIC Land Breaks Ground on $300M Master-Planned Development in Hardeeville, South Carolina

by John Nelson November 3, 2025

HARDEEVILLE, S.C. — HIC Land has begun construction on Carolina Station, a $300 million master-planned development in Hardeeville, about 17 miles north of Savannah, Ga. Situated along U.S. Highway 278, the project will span 2,600 acres in the state’s Lowcountry region. HIC Land, which originally acquired the historic Morgan tract for $36 million, has partnered with homebuilder D.R. Horton for the development of an undisclosed number of single-family homes within the campus. Carolina Station will also feature more than 650 multifamily units and 95 acres of commercial space, including shops, restaurants and service retailers. D.R. Horton has committed to invest $8 million to improve the intersection at U.S. Highway 278 and John Smith Road as part of the Carolina Station master plan. The construction timeline of the multi-phase development was not released.

November 3, 2025

Development Retail Southeast Virginia

IKEA to Open 110,000 SF Store in Chantilly, Retailer’s Third Location in Virginia

by John Nelson November 3, 2025

CHANTILLY, VA. — IKEA U.S. has announced plans to open a nearly 110,000-square-foot store in Chantilly, making it the Swedish retailer’s third location in Virginia. Set to open in spring 2026, the new store will be located at 4320 Chantilly Shopping Center Drive, about 28 miles west of Washington, D.C. IKEA says that the store will feature its popular fully furnished room settings and display more than 7,700 products, with more than 4,400 products available for immediate takeaway, including home furnishing accessories and approximately 500 smaller furniture items. The store will also offer free in-store pick-up for online orders, as well as its famous in-store restaurant and a central planning area where shoppers can get design consultation from an IKEA staff member. In addition to the Chantilly store, the retailer recently announced a new 93,000-square-foot IKEA store coming to Webster, Texas, as well as its second store coming to Manhattan.

November 3, 2025

Development New York Northeast Office

Joint Venture to Undertake $50M Renovation of Midtown Manhattan Office Building

by Taylor Williams November 3, 2025

NEW YORK CITY — A joint venture between Boston-based owner-operator The Davis Cos., Tribeca Investment Group (TIG) and ATCO will undertake a $50 million renovation of 630 Third Avenue, a 23-story, 261-445-square-foot office building in Midtown Manhattan. Renovations will include a full lobby remodeling, construction of a tenant amenity center and conferencing space and delivery of move-in ready office suites. Construction is set to begin in the first quarter and to last six to eight months. CBRE has been named as the leasing agent for 630 Third Avenue.

November 3, 2025

Development Hospitality Midwest Missouri

Midas Hospitality, Bryan Properties Open 123-Room Element Hotel in Branson, Missouri

by Kristin Harlow November 3, 2025

BRANSON, MO. — Midas Hospitality and Bryan Properties have opened a 123-room Element Hotel by Westin in Branson. The asset is owned by Bryan Properties and managed by Midas Hospitality. Located at 511 Pat Nash Drive, the hotel is situated near Ballparks of America and the adjacent Branson Theater District. The 73,637-square-foot property offers a fitness center, outdoor saline pool, fire pits and complimentary breakfast.

November 3, 2025

Development Iowa Midwest Multifamily Seniors Housing

Woda Cooper, Parallel Housing Break Ground on 52-Unit Affordable Seniors Housing Community in Iowa

by Kristin Harlow November 3, 2025

DAVENPORT, IOWA — Woda Cooper Cos. Inc. and co-developer Parallel Housing Inc. have broken ground on Timber Ridge, a 52-unit affordable housing community for seniors age 62 and older in Davenport. Units are targeted for renters who earn up to 60 percent of the area median income. The three-story building will offer 32 one-bedroom units and 20 two-bedroom apartments. Projected rents are $565 to $975 per month, depending on unit size and income restriction. Amenities will include a multipurpose room, dog park and outdoor seating. Timber Ridge will be ENERGY STAR certified. The City of Davenport approved a HOME loan as part of the project’s financing. Primary financing was supported by the allocation of 9 percent housing tax credits by the Iowa Finance Authority. KeyBank Community Development Lending and Investment provided the construction loan and tax credit equity investment. Cedar Rapids Bank & Trust is providing a permanent mortgage. Timber Ridge marks Woda Cooper’s eighth affordable housing community in Iowa and its first in Davenport. Hooker DeJong Inc. is the architect, Woda Construction Inc. is the general contractor and IMEG Corp. is the civil engineer. Woda Management & Real Estate LLC will handle leasing and property management.

November 3, 2025

Acquisitions Development Illinois Midwest Multifamily Office

eXp Commercial Arranges $1.5M Sale of Multifamily Redevelopment Site in Wheaton, Illinois

by Kristin Harlow November 3, 2025

WHEATON, ILL. — eXp Commercial, a division of eXp World Holdings Inc., has arranged the $1.5 million sale of a multifamily redevelopment property at 100 W. Roosevelt Road in Wheaton. The property includes two 12,000-square-foot office buildings on 1.2 acres. The buyer, a local developer, plans to redevelop the site into 22 multifamily units following successful rezoning from office to residential use. Randolph Taylor of eXp represented the undisclosed seller.

November 3, 2025

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