Thursday, April 23, 2026
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Development

DevelopmentIndustrialSoutheastVirginia

Matan Delivers 345,000 SF Industrial Project in Ashland, Virginia

by John Nelson

ASHLAND, VA. — Matan Cos. has delivered Phase I of Northlake II, an industrial park located along the I-95 corridor in Ashland, a northern suburb of Richmond. The first three buildings of the park span 345,000 square feet and were fully leased upon delivery to tenants including Ferguson, Chadwell Supply, Envoy Solutions and Haskell Hardware. Gareth Jones, Chris Avellana and Charlie Polk of JLL handle the leasing at Northlake II on behalf of Matan. Construction of Phase II will commence this summer, with expected completion at the end of 2025 for the final building, which will span approximately 200,000 square feet.

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DevelopmentIndustrialTexas

Triten Real Estate Completes 130,755 SF Industrial Project Near Port Houston

by Taylor Williams

BAYTOWN, TEXAS — Locally based developer Triten Real Estate Partners has completed Thompson Road Distribution Center, a 130,755-square-foot industrial project located near Port Houston in Baytown. The site spans eight acres, and the building features 32-foot clear heights, 18 dock-high doors, two drive-in ramps, 80 trailer drops and 62 car parking spaces. Method Architecture designed the project, and Angler Construction served as the general contractor. Boyd Commercial is the leasing agent.

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DevelopmentHealthcareNew YorkNortheast

Skanska USA Completes $560M Healthcare Project on Long Island for Northwell Health

by Taylor Williams

MANHASSET, N.Y. — General contractor Skanska USA has completed the Petrocelli Surgical Pavilion, a $560 million healthcare project in the Long Island community of Manhasset for Northwell Health, the state’s largest provider. Skanska USA broke ground on the 288,000-square-foot project, which is located on the 756-bed North Shore University Hospital campus, in spring 2020. The facility houses 18 operating rooms, including three hybrid rooms with advanced imaging, along with 132 intensive care rooms. The Petrocelli Pavilion will also serve as the home of the Sandra Atlas Bass Heart Hospital.

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DevelopmentIndustrialNew YorkNortheast

Venture One, Affinius Deliver 123,970 SF Spec Industrial Project on Long Island

by Taylor Williams

HAUPPAGE, N.Y. — A partnership between Chicago-based Venture One Real Estate and New York City-based Affinius Capital has delivered a 123,970-square-foot speculative industrial project in the Long Island community of Hauppage. The site at 49 Wireless Blvd. is located within Hauppage Innovation Park, and the building features a clear height of 36 feet, 130-foot truck court depths and parking for 131 cars and 40 trailers. Cushman & Wakefield is marketing the property for lease.

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DevelopmentFloridaLoansMultifamilySoutheastTop Stories

Mast Capital Receives $600M Construction Loan for 80-Story Cipriani Residences Miami Condo Tower

by Kristin Harlow

MIAMI — Developer Mast Capital has received a $600 million construction loan for Cipriani Residences Miami, an 80-story condominium tower in the city’s Brickell neighborhood. The 397-unit project will offer views of Biscayne Bay, the Brickell skyline and Coconut Grove. Mexico-based Banco Inbursa and Ascendant Capital Partners provided the financing, contributing $350 million and $250 million, respectively. The loan marks the largest single-tower residential construction loan ever obtained in Florida and underscores the project’s strong pre-sale activity, according to Mast. Camilo Miguel, CEO of Mast, says the unprecedented financing is a testament to the demand for an ultra-luxury condominium project in the neighborhood. The area has experienced an influx of new residents, particularly since mid-2020. Mast purchased the 2.8-acre site at 1420 S. Miami Ave. for $103 million in December 2021. Cipriani Residences Miami will offer floor plans ranging from 1,123 to 3,495 square feet as well as penthouses with private pools. Pricing will start at $1.7 million for most of the condos, while pricing for the penthouses will begin at $17 million. All residents will have access to dining services in a private restaurant as well as 24-hour in-home dining and catering services. Dining services will extend to the …

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DevelopmentIndustrialLeasing ActivityMarylandSoutheast

Webstaurant Store Signs 1.2 MSF Industrial Lease in Hagerstown, Maryland

by John Nelson

HAGERSTOWN, MD. — The Webstaurant Store LLC, an online restaurant supplier based in Pennsylvania, has signed a 1.2 million-square-foot lease for a new distribution center in Hagerstown, a city near the Maryland-Pennsylvania border. A partnership led by Baltimore-based MCB Real Estate is the landlord/developer of the 1.5 million-square-foot industrial park, dubbed Currwood Logistics Center. Cushman & Wakefield represented the landlord in the lease negotiations, while Newmark represented Webstaurant Store. Other member firms in the park’s ownership include Invesco Real Estate, Curated Development Group, Birchwood Capital Partners and Artemis Real Estate Partners. Currwood Logistics Center is situated near the intersection of I-70 and I-81 along Paul Smith Boulevard and will create 700 new jobs at full capacity, according to MCB. The property will serve as the hub of Webstaurant Store’s Northeast fulfillment network.

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DevelopmentHospitalityTexas

Joint Venture to Develop 200-Room Sports Illustrated Hotel in Texas City, Texas

by Taylor Williams

TEXAS CITY, TEXAS — A joint venture between Sports Hospitality Ventures and Lagoon Development Co. will develop the Sports Illustrated Resort at Lago Mar, a 200-room hotel that will be located southeast of Houston in Texas City. The nine-story hotel will feature a variety of suite accommodations and sports-themed amenities, as well as a 12-acre lagoon and a beach club with cabanas, resort services and a swim-up island bar. Construction is scheduled to begin in the third quarter.

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DevelopmentFloridaRetailSoutheast

Whole Foods to Open 40,100 SF Grocery Store in St. Petersburg, Florida

by John Nelson

ST. PETERSBURG, FLA. — Whole Foods Market plans to open a new 40,100-square-foot store in St. Petersburg, marking the grocer’s entry to the Tampa Bay suburb. The developer of the freestanding store was not disclosed, but the Tampa Bay Times reported that the developer/landlord is a partnership between locally based J Square Developers and Atlanta-based SJC Ventures. Located at 201 38th Ave. N, the new store will feature more than 800 local products from more than 140 local suppliers. The store will include a full-service seafood counter; cheese station; meat counter; a craft beer department that will sell 180 craft beers, including 50 from local breweries; a hot food and salad bar; bakery; and a wellness and beauty section. Whole Foods plans to open its doors on Wednesday, Feb. 28.

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DevelopmentFloridaLoansMultifamilySoutheast

JLL Arranges $60.9M Refinancing for Multifamily Development in Miami

by John Nelson

MIAMI — JLL has arranged $60.9 million in construction takeout refinancing for a new multifamily development underway in Miami’s Village of El Portal neighborhood. The eight-story, 282-unit property, called The Kavista, is set to open later this month. Melissa Rose, Michael DiCosimo and Maddy McMillen of JLL arranged the two-year, floating-rate loan through Varde Partners on behalf of the borrower and developer, Barrington Brothers. Located at 495 N.E. 83rd St. between Miami Shores and Little River, The Kavista will feature one-, two- and three-bedroom apartments, as well as a resort-style swimming pool and pool deck, a coworking lounge, theater, fitness center and electric vehicle (EV) charging stations. Monthly rental rates at The Kavista range from $2,100 to $4,200, according to Apartments.com.

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DevelopmentIndustrialLoansMassachusettsNortheast

Portman Holdings to Undertake 1.1 MSF Industrial Redevelopment in Taunton, Massachusetts

by Taylor Williams

TAUNTON, MASS. — Atlanta-based Portman Holdings will undertake a redevelopment project in Taunton, located south of Boston and east of Providence, that will convert the site of the former Silver City Galleria mall into a 1.1 million-square-foot industrial park. The mall closed in 2020 after nearly 30 years of operation. For the first phase of the project, Portman plans to demolish existing structures and construct a 248,435-square-foot-building with a clear height of 32 feet, 38 dock positions, two drive-in doors and parking for 270 cars and 29 trailers. On behalf of Portman, Jody Thornton, Brett Paulsrud, Ryan Parker and Ari Bogen of JLL arranged a $29 million construction loan through BMO Harris for the first phase of the redevelopment.

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