Development

Merit-27-Buckeye-Phoenix-AZ

PHOENIX — On behalf of Merit Partners, Phoenix-based Stevens-Leinweber Construction (SLC) has completed the construction of Merit 27 Buckeye, an industrial infill redevelopment in Phoenix’s 27th Avenue Corridor. The development team transformed a former and vacant Murphy Elementary School District campus into a modern, two-building industrial property totaling 256,813 square feet. The property is situated on 18 acres at the southeast corner of 27th Avenue and Buckeye Road. Merit 27 Buckeye features a 191,227-square-foot Building A at 1515 S. 27th Ave. and a 65,586-square-foot Building B at 2675 W. Buckeye Road. The buildings offers 32- to 36-foot clear heights, 59 total dock-high and eight total drive-in doors, ESFR sprinklers and secure auto and truck parking. Energy-efficient features include LED lighting, R-38 and R-11 insulation, exterior canopies for heat mitigation and clerestory windows to increase natural interior light. Daikin fully occupies Building A, and Mazak, Reliable Garage Doors, Hajoca and Impilo Inc. occupy Building B. The project team included SLC as general contractor, and Butler Design Group served as architect. Jackie Orcutt, John Werstler, Cooper Fratt and Jonathan Teeter of CBRE are handling leasing for Merit 27 Buckeye.

FacebookTwitterLinkedinEmail

BIRMINGHAM, MICH. — REDICO is leading the redevelopment of the Fred Lavery Porsche dealership in Birmingham, following the completed demolition of the dealership’s former facility at 34350 Woodward Ave. Construction is underway on a new, three-story dealership that is slated to open in 2027. During construction, the Porsche sales and service operations have been temporarily relocated to Fred Lavery’s other dealership, Audi Birmingham at 34602 Woodward Ave. The redevelopment project expands the showroom, service operations and onsite parking. The project also includes the demolition of adjacent structures along Haynes Street, enabling a reconfigured layout. The project team includes Sachse Construction as general contractor and Albert Kahn Associates and LZG as architects. The new development will embody the “Destination Porsche” global design philosophy.

FacebookTwitterLinkedinEmail

KATY, TEXAS — NewQuest, a local commercial real estate development and services firm, has broken ground on the multi-tenant retail component of Texas Heritage Marketplace, a $400 million mixed-use development in Katy, a western suburb of Houston. The project represents the largest cluster of retail space in the history of Waller County, according to NewQuest. “As it stands, Waller and surrounding rural counties have been unserved by major retailers,” says Austin Alvis, president and chief development officer for NewQuest. “Texas Heritage Marketplace will fill in that gap.” Situated in the center of Texas Heritage Marketplace, the retail space that is now under construction is leased to tenants including Academy Sports + Outdoors (51,068 square feet), Burlington (22,147 square feet), Spec’s Fine Wines & Spirits (16,806 square feet) and Ulta Beauty (10,000 square feet). NewQuest plans to deliver the junior retail anchors in first-quarter 2027. The groundbreaking also includes Heritage Grove, a green space component that will span five acres at the center of the development. The park-like common space will be surrounded by the junior retailers and an additional 35,000 square feet of retail space planned for restaurants and service retailers, as well as a 40,000-square-foot EoS Fitness location. NewQuest plans …

FacebookTwitterLinkedinEmail
CommonSpirit – Memorial Hospital

RINGGOLD, GA. — McCarthy Building Cos. has delivered CommonSpirit – Memorial Hospital, a 134,000-square-foot hospital located in Ringgold, a city in Catoosa County along the Georgia-Tennessee border. The $90 million project marks the first new hospital to be delivered to the community in seven decades. The 64-bed inpatient hospital replaces the 70-year-old Hutcheson Medical Center and connects to the existing physician office building, serving as an anchor for its medical campus. The hospital features an emergency department that includes critical care services, imaging services, operating rooms, a GI department, pharmacy, modernized kitchen and server, laboratory and a sterile processing department, as well as a chapel provided by the Sisters of Charity of Nazareth. The facility also houses eight ICU rooms and 56 medical and surgery rooms, including five isolation rooms. The site also houses Rees Skillern Cancer Institute and MaryEllen Locher Breast Cancer Center, where additional renovations were also completed to enhance patient access and operational efficiency across the campus. The Cancer Center includes a new waiting room, patient registration area, storage, stretcher alcove and a new southern entrance, while the physician office building features new administrative offices, an office for the director of nursing and a dedicated command center. Hoefer Welker …

FacebookTwitterLinkedinEmail
Industrial-Project-E-Vermont-Ave-Anaheim-CA

ANAHEIM, CALIF. — Western Realco has purchased a fully entitled, 12.1-acre industrial site on East Vermont Avenue in Anaheim from Rexford Industrial for $40.7 million. The buyer will immediately begin demolition and construction to develop a 256,046-square-foot Class A industrial building. Completion is slated for late 2027. The new industrial building will feature a clear height of 36 feet, 39 dock-high doors, an ESFR sprinkler system, 4,000 amps of power and a fully enclosed truck court. Zach Niles, Louis Tomaselli and Steve Wagner of JLL represented the seller and buyer in the deal. Additionally, JLL was retained to market the new development for lease.

FacebookTwitterLinkedinEmail
Lakeside-Apartments-Worcester

WORCESTER, MASS. — MassDevelopment has provided $38 million in tax-exempt bond financing for an affordable housing project in Worcester. The project is a redevelopment of Lakeside Apartments, a two-building complex that was constructed in 1949. The developer, a partnership between an affiliate of Tremont Development Partners and E3 Development, plans to construct two new buildings with a total of 116 units, 61 of which will replace outdated residences. Of the 116 units, 29 will be rented to households earning 60 percent or less of the area median income (AMI), and the other 87 will be reserved for households at 30 percent or less of AMI. Construction is underway and is expected to be complete in August 2027. Eastern Bank purchased the bond, with participation from Webster Bank. The Worcester Housing Authority is also a partner on the project.

FacebookTwitterLinkedinEmail

NORTH BERGEN, N.J. — Safely Store has purchased a self-storage redevelopment site in North Bergen, located across the Hudson River from New York City. The site at 3131 Kennedy Blvd. houses a vacant, 73,398-square-foot building that was originally constructed in 1999 and previously functioned as a movie theater. Safely Store plans to convert the building into a four story self-storage facility with 103,000 net rentable square feet of climate-controlled space. Jose Cruz, Nicholas Stefans, Jason Lundy and Luke Ceccoli of JLL represented the seller, Madison International Realty, in the transaction.

FacebookTwitterLinkedinEmail
Erickson-Pull-Quote

LAKE TAHOE, NEV. — A partnership between Colorado-based development and investment firm Realberry, operator Proper Hospitality and international real estate firm The KOR Group has received $298 million in financing for the redevelopment of a hotel resort property in Lake Tahoe, a tourist destination located along the California-Nevada border. The project involves the reimagining and conversion of the historic Cal Neva Hotel, which first opened in 1926, into a hospitality and entertainment destination that will be known as Lake Tahoe Proper Resort and Casino. Completion of the redevelopment and the opening of the new hotel are scheduled for 2027. “Cal Neva is one of the most storied hospitality properties in the West, and we feel a deep responsibility to get the execution right with Lake Tahoe Proper,” says Chad McWhinney, CEO of Realberry. “Our focus has been on rigorous restoration, and this financing milestone allows us to continue to thoughtfully reestablish this asset as a premier hospitality destination in Lake Tahoe, balancing preservation and long-term stewardship.” Plans for Lake Tahoe Proper Resort and Casino currently call for 197 guestrooms, suites and private villas, as well as multiple restaurants and bars. In addition to the casino, the property will also feature …

FacebookTwitterLinkedinEmail

LA PORTE, TEXAS — Prologis has broken ground on a 229,227-square-foot industrial project in La Porte, an eastern suburb of Houston. The project will add two buildings totaling 120,013 and 109,214 square feet to Port Crossing Commerce Center, bringing the development’s total footprint to approximately 2.7 million square feet across 11 buildings. The buildings will be situated on a combined 17 acres with frontage along State Highway 146. Construction is expected to be complete before the end of the year.  

FacebookTwitterLinkedinEmail
ARIA-7-Platt-Manhattan

NEW YORK CITY — Locally based owner-operator The Moinian Group has begun leasing ARIA 7 Platt, a 38-story apartment building located in the Financial District of Lower Manhattan. Designed by Hill West with interiors by Rockwell Group and built by AECOM Tishman, ARIA 7 Platt houses 250 units in studio, one-, two- and three-bedroom floor plans, well as penthouse residences. Indoor amenities include a fitness center, library, work pods, lounges, private dining spaces with outdoor terrace access, a gaming and virtual reality area and a communal kitchen. Outside, residents have access to a rooftop sundeck, garden lounge, movie lounge, dining areas and outdoor coworking space. Information on starting rents was not disclosed.

FacebookTwitterLinkedinEmail