Tuesday, July 15, 2025
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DevelopmentFloridaIndustrialSoutheast

BG Capital, FreezPak Logistics to Build $120M Cold Storage Facility in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Philadelphia-based BG Capital and New Jersey-based FreezPak Logistics have purchased a 20.5-acre development site at 8730 Somers Road in Jacksonville for $11.2 million. The duo plan to develop an approximately $120 million cold storage facility spanning 272,400 square feet at the site, which is located near JaxPort’s Talleyrand and Dames Point terminals. The property, dubbed FreezPak Jacksonville, will feature 34 loading docks, 132 trailer parking stalls, 90 container plug-ins and 194 car parking spots. The facility will offer 56,000 pallet positions in the freezer space spanning 211,517 square feet and the cooler dock spanning 40,480 square feet. Users will have access to blast freezing, cross-docking, transportation, repacking, overseas container plug-in and USDA and FDA compliance at the facility, as well as a fleet of 42 robots installed by FreezPak’s robotic division. BG Capital and FreezPak plan to break ground on the Jacksonville project in the first quarter of 2023 and deliver in first-quarter 2024. FreezPak has another Florida development in the works, FreezPak Miami, which is set to open in December. BG Capital has partnered with FreezPak Logistics to build and own more than $3 billion of cold storage projects in seaport markets around the country. The …

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DevelopmentDistrict of ColumbiaMultifamilySoutheast

Partnership to Develop 10-Story Residential Building Near Howard University in D.C.

by John Nelson

WASHINGTON, D.C. — A partnership between Lowe, FLGA and Davenport Group has secured a 99-year ground lease from Howard University to construct a new residential tower on two sites in Washington, D.C.’s Shaw neighborhood currently being used as student parking lots. The 1.9-acre assemblage at 2251 Sherman Ave. and 2047 9th St. NW will be converted into a 525,000-square-foot, 10-story tower housing up to 500 residences, 27,000 square feet of commercial space and an underground parking garage. The partnership is undertaking the development with USAA Real Estate. JLL arranged an undisclosed amount of bridge financing for the land transaction through Eagle Bank. Construction is anticipated to commence in fall 2023. The project is the latest transaction by Howard University to densify its campus while maintaining long-term control of its real estate. Plans for the new housing include units ranging from studios to larger two-bedroom with den floor plans. Approximately 40 units will be designated as affordable housing, with the potential to increase that number to 60 units. Planned amenities include a club room, fitness center and rooftop patio and pool. The unnamed project is also set to include a 25-foot-wide public plaza fronting the future extension of W Street that …

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DevelopmentGeorgiaIndustrialSoutheast

OA Development Breaks Ground on 1 MSF Industrial Park Near Atlanta Airport

by John Nelson

ATLANTA — Locally based OA Development has broken ground on Victory Landing Logistics Center, a nearly 1 million-square-foot industrial park located adjacent to I-285 near Hartsfield-Jackson Atlanta International Airport. The developer expects to deliver the first phase, comprising five buildings totaling 700,000 square feet, next summer. Along with planned road improvements, the project represents $83 million in total investment. Roughly 30 percent of the site is designated green space and wetlands, according to OA Development. In addition to OA Development, the project team includes general contractor The Conlan Co. and Roswell, Ga.-based architectural firm Randall-Paulson Architects. Pat Murphy of Cushman & Wakefield is leasing the development.

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DevelopmentFloridaSoutheastStudent Housing

Lynn University, Capstone Development Complete $40.5M Residence Hall Project in Boca Raton

by John Nelson

BOCA RATON, FLA. — A public-private partnership between Lynn University and Capstone Development Partners has opened Capstone Apartments, a $40.5 million residence hall located on the university’s campus in Boca Raton. The 112,369-square-foot community offers 342 beds in studio, two- and four-bedroom configurations for upperclassmen and graduate students. Shared amenities include a community kitchen, entertainment lounge, flexible workspace, multi-purpose room, study lounges and laundry facilities on each floor. The development was designed to achieve LEED Silver certification with sustainable elements including the use of locally sourced materials, solar sunshades, low-E glazing, high socially responsible investment (SRI) roof materials, low-flow fixtures, a high-efficiency HVAC system and LED lighting. Capstone Management Partners manages the facility, while the university provides resident life services, support, IT and campus safety services. Gerrits Construction, Design Collective, Donahue Architecture and Design and Provident Resources Group were part of the project’s design-build team.

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The-Park-at-Manor-Crossing
DevelopmentMultifamilyTexas

GenCap Partners Underway on 586-Unit Multifamily Project in Manor, Texas

by Taylor Williams

MANOR, TEXAS — Developer GenCap Partners is underway on construction of The Park at Manor Crossing, a 586-unit multifamily project that will be located in the eastern Austin suburb of Manor. The community will be developed in two phases, with Phase I comprising 301 units and slated for a fourth-quarter completion. The second phase will deliver 285 units, with construction scheduled to commence in late 2024 and move-ins to begin in 2026. Residences will feature one-, two- and three-bedroom floor plans and will be furnished with stainless steel appliances, quartz countertops, tile backsplashes and individual washers and dryers. Amenities will include a pool, grilling areas, fitness center, dog park, clubhouse, coworking lounge and a package locker system.

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Sossaman-Park-Mesa-AZ
ArizonaDevelopmentIndustrialLoansWestern

JLL Arranges $99M Construction Loan for Five-Building Sossaman Park Industrial Project in Mesa, Arizona

by Amy Works

MESA, ARIZ. — JLL Capital Markets has arranged $99 million in construction financing for the Phase I development of Sossaman Park 202, a five-building industrial project in Mesa. Totaling 828,718 square feet, the first phase will include a mix of light industrial, warehousing and distribution buildings ranging in size from 130,318 square feet to 198,782 square feet. Each of the buildings will offer two grade-level doors, between 25 to 41 dock-high doors, 50-foot by 52-foot column spacing and 32-foot clear heights throughout. Sossaman Park will be built in two phases with the second phase expected to include three additional buildings that will collectively total 722,000 square feet. A portion of the loan proceeds were used to fund the sponsor’s acquisition of the Phase II land site. The development is located on 108.9 acres at the southwest corner of Sossaman and Warner roads in the Chandler North/Gilbert submarket. Jeff Sause, Todd Sugimoto, Wyatt Strahan and Jason Carlos of JLL Capital Markets arranged a four-year, floating-rate loan for the borrower, a joint venture led by Contour. Pacific Western Bank provided the loan.

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Amaya-Suffolk-Downs-Revere
DevelopmentLoansMassachusettsMultifamilyNortheast

Ullico Provides $150M Construction Loan for Metro Boston Multifamily Project

by Taylor Williams

REVERE, MASS. — Ullico, a Washington, D.C.-based insurance company, has provided a $150 million construction loan for Amaya, a 475-unit multifamily project that will be located in the northeastern Boston suburb of Revere. Designed by ICON Architecture, the project is part of the 16.2 million-square-foot redevelopment of the former Suffolk Downs racetrack and will house 24,000 square feet of ground-floor retail space. Amenities will include a pool, landscaped courtyards, an outdoor kitchen with grilling stations, fitness center and a game room with an arcade. Completion is slated for the second quarter of 2024. The borrower was a partnership between National Real Estate Advisors, Cathexis and The HYM Investment Group.

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DevelopmentIndustrialNortheastPennsylvania

Endurance Completes 251,200 SF Industrial Project in Middletown, Pennsylvania

by Taylor Williams

MIDDLETOWN, PA. — Endurance Real Estate has completed construction of Middletown Logistics Center, a 251,200-square-foot industrial project located on the southeastern outskirts of Harrisburg. The Pennsylvania-based developer also signed industrial products manufacturer IPEX USA to a full-building lease at the property. Jeff Lockard, Jason Webb, Maria Ratzlaff and Ryan Barros of JLL represented Endurance in the lease negotiations. Sean Bleiler of CBRE represented the tenant. Middletown Logistics Center features clear heights of 36 feet, 33 trailer stalls and 102 car parking spaces.

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DevelopmentHospitalityMidwestMissouri

Midas Construction Breaks Ground on $50M Hotel in Clayton, Missouri

by Kristin Harlow

CLAYTON, MO. — Midas Construction has broken ground on the $50 million AC Hotel Clayton in the St. Louis suburb of Clayton. The hotel will rise 11 stories with 207 rooms. Completion is slated for early 2024. The project is revitalizing a historic, underutilized site that once housed the former headquarters of the Clayton Police, which relocated in 2011. The hotel, designed for business and leisure travelers, will feature a rooftop bar and restaurant that will be open to the public. Construction was originally scheduled to begin in March 2020 but was postponed due to the pandemic. The development team consists of Koplar Properties, HomeBase Partners and Concord Hospitality.

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Alterman-Live-Oak
DevelopmentIndustrialTexas

Whiting-Turner Breaks Ground on 199,765 SF Office, Industrial Project Near San Antonio

by Taylor Williams

LIVE OAK, TEXAS — General contractor Whiting-Turner Construction has broken ground on the 199,765-square-foot first phase of a new headquarters facility for electrical contractor Alterman in the northeastern San Antonio suburb of Live Oak. Designed by Studio8, the 19.7-acre campus will include office space for all three of Alterman’s divisions as well as a logistics building and various outdoor amenity spaces. Completion is slated for early 2024.

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