HOUSTON — Wolf Capital Partners is nearing completion of the renovation of a 120,000-square-foot medical office building in Houston. The project team has completed the refresh of the lobby and multiple common areas and is now underway on an overhaul of the façade and upgrades to vehicle access areas, outdoor patio spaces and additional interior floor renovations. Completion of the latest phase is slated for the fourth quarter. In addition, Wolf Capital has completed 38,253 square feet of new leasing activity at the building over the past year.
TOMS RIVER, N.J. — Developer DXD Capital has completed construction of a 761-unit self-storage facility in Toms River, located on the Jersey Shore. The four-story building spans 62,818 net rentable square feet and features multiple elevators and a drive-in loading area. DXD Capital acquired the site in summer 2022. Public Storage will operate the facility. Jayeff served as the general contractor on the project, and Century Bank was the construction lender.
WORCESTER, MASS. — Trinity Financial, a developer with offices in Boston and New York City, has begun a multifamily redevelopment project in Worcester. The firm, in partnership with the Worcester Housing Authority, is redeveloping The Curtis Apartments, a 372-unit property that was originally built in the 1950s. The first phase of the project consists of 129 units in two buildings, replacing 90 former public housing units and adding 39 additional affordable units that will be reserved for households earning up to 60 and 80 percent of the area median income.
DELRAY BEACH, FLA. — BBX Logistics Properties, along with joint venture partner PCCP LLC, has broken ground on The Park at Delray, a new 40-acre industrial park located along U.S. Highway 441 in Delray Beach, about 20 miles south of West Palm Beach. Phase I of the project includes the construction of a 200,000-square-foot building, with plans for two additional buildings to follow. The first phase can accommodate tenants seeking spaces as small as 50,000 square feet. City National Bank provided a $31.3 million construction loan for The Park at Delray. The timeline for construction was not disclosed.
SANFORD, FLA. — Working on behalf of Crescent Communities, Doster Construction Co. has completed Novel Parkway, a 325-unit apartment community situated along International Parkway in Sanford, a northeast suburb of Orlando. The property features a mix of one-, two- and three-bedroom apartments ranging in size from 656 to 1,527 square feet. Monthly rental rates range from $1,700 to $3,437, according to Apartments.com. Novel Parkway features 10,000 square feet of amenities, including a pool, fitness center, clubhouse, business center and walking/biking trails.
ANN ARBOR, MICH. — The life sciences group of Sartorius has opened its new Center of Excellence for bioanalytics in Ann Arbor. Sartorius invested about $100 million for the state-of-the-art facility, consolidating existing sites and functions in Ann Arbor. The number of employees at the 130,000-square-foot property is expected to double over time. The facility houses a modern manufacturing and services area, biology labs, a warehouse, office and training spaces and a Customer Interaction Center. Sartorius will develop and manufacture a range of bioanalytical instruments at the site. Sartorius provides bioanalytical solutions that are used in the discovery and development of biopharmaceutical drugs. The company employs about 2,600 people at 12 sites in North America.
HOLLAND, MICH. — Magnus Capital Partners has begun development of HōM Flats at 24 East, a 202-unit workforce housing development in western Michigan’s Holland. The three-building property will feature more than 13,000 square feet of retail space, including an onsite childcare center and suites reserved for locally owned businesses. Amenities will include a pickleball court, fitness studio, coworking lounge, café, indoor and outdoor play areas, art studio, package delivery area, pet-washing stations, indoor bike storage, rooftop terraces, walking paths and dog parks. Leasing is expected to begin in 2026. HōM Flats is the workforce housing platform of Magnus. Residents have access to monthly event programming like financial literary classes, art programs and career services. Hooker DeJong Inc. is the project architect, and Rhode Construction will serve as general contractor. Merchants Capital arranged more than $81 million in financing for the project, which is financed through private and public funding sources, including a 4 percent Low-Income Housing Tax Credit (LIHTC) allocation from Michigan State Housing Development Authority. Merchants Capital provided $14.2 million in LIHTC equity and a $27.9 million Freddie Mac unfunded forward tax-exempt loan. Merchants Bank provided a $31 million construction loan and $8 million equity bridge loan.
FORT WAYNE, IND. — WaterFurnace International, a geothermal and water source heating and cooling solutions provider, has broken ground on a 173,000-square-foot expansion of its headquarters in Fort Wayne. The $14 million project will more than double the current size of the property. The entire facility will continue to be heated and cooled by WaterFurnace geothermal heat pumps that draw from the renewable energy of its existing pond. WaterFurnace says its expansion comes on the heels of two record-breaking years, driven by a growing demand for renewable energy technologies and the currently available 30 percent federal tax credit for geothermal systems.
KIRKLAND, WASH. — The Cogir Family of Companies has completed work on Cogir of Kirkland, a 76-unit independent living and assisted living community in Kirkland, a suburb east of Seattle. Located in the city’s Lakeview neighborhood, the community offers units ranging from 375 to 475 square feet. Cogir will hold a ribbon cutting on June 20 at the property.
EAST ALTON, ILL. — Wieland, a supplier of copper and copper alloy solutions, has begun renovating and expanding its manufacturing facility in East Alton, located outside of St. Louis near the Illinois-Missouri border. The project is valued at $500 million. The initial phase of the modernization will increase the capacity and quality of copper production at the facility, which was originally constructed in 1916. The development team will revamp building foundations to support new equipment, and the site will be modified to support the use of an overhead crane for equipment setting. Wieland will also undertake upgrades to other facilities, including the furnace, re-cooling system, distribution switchgear, superstructure and controls/commissioning. Following completion of the project, the building structure will feature metal siding and roofing over heavy structural steel. “With copper having an integral role in the energy transition, this endeavor better positions Wieland as a provider of sustainable solutions for our customers’ ever-changing needs,” says Greg Keown, president of Wieland’s rolled products North America division. The project team includes general contractors Graycor Construction Co. and Helmkamp Construction Co., as well as design firms Vestal Corp. and Salas O’Brien. Completion is slated for mid-2028. — Taylor Williams