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Development

Build-to-RentDevelopmentMidwestOhioSingle-Family Rental

Buckingham, Onyx+East Break Ground on 120-Unit Build-to-Rent Community in Suburban Columbus

by Kristin Harlow

LEWIS CENTER, OHIO — A joint venture between Buckingham and Onyx+East has broken ground on a 120-unit build-to-rent (BTR) community in Lewis Center within Orange Township. Named Mural Lewis Center, the development is part of Buckingham’s Mural Collection. The two- to four-bedroom homes will range from 902 to 2,685 square feet and include attached two-car garages and private outdoor spaces. All home and yard maintenance is included, and residents can enjoy a playground, pavilion, dog park, community garden, fire pit and walking trails. The first units will be available for rent beginning in December. Mural Lewis Center comes on the heels of Onyx+East and Buckingham’s first BTR project, Mural Brownsburg, located in suburban Indianapolis.

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The-Jasper-Denver-CO
ColoradoDevelopmentLoansMultifamilyWestern

First Stone Development Receives $15.8M in Construction Financing for Multifamily Project in Denver

by Amy Works

DENVER — First Stone Development has received $15.8 million in financing for the construction of The Jasper, a multifamily property at 4353 Tennyson St. in Denver. Phillip Gause and Jim Wilkins of Marcus & Millichap Capital Corp.’s Denver office secured $2 million in preferred equity and $13.8 million in debt for the borrower. The construction loan was placed with a debt fund and features a two-year term. Situated in Denver’s Berkeley neighborhood, The Jasper will offer 34 apartments and 2,700 square feet of street-level retail space.

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Clayton-University-Center-Lehigh-University
CivicDevelopmentNortheastPennsylvania

Skanska Completes $70M Redevelopment of Historic Building at Lehigh University

by Taylor Williams

BETHLEHEM, PA. — International developer and construction firm Skanska has completed the $70 million redevelopment of a historic building on the campus of Lehigh University in Bethlehem. The Clayton University Center was originally built in 1868. The redevelopment involved upgrading the electrical and mechanical systems, installing a full fire protection system and adding multiple kitchen and food delivery areas. The redevelopment also entailed renovations of numerous interior common areas, as well as the preservation of the building’s façade, and the project team also undertook various sustainability measures. Shepley Bulfinch designed the redevelopment, which began in late 2022.

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DevelopmentNew YorkNortheastRetail

Meow Wolf to Open 75,000 SF Entertainment Venue at Pier 17 in Lower Manhattan

by Taylor Williams

NEW YORK CITY — Meow Wolf, a concept that blends art, storytelling and interactivity, will open a 75,000-square-foot entertainment venue in Lower Manhattan. The space will span multiple stories within Pier 17, an entertainment destination in the Seaport District. Construction is scheduled to begin in the third quarter, with an expected completion date and additional details to be announced at a later time. Mary Ann Tighe, Gerry Miovski, Evan Haskell, Brett Shannon, Zachary Price and Jacob Rosenthal of CBRE represented the landlord, Seaport Entertainment Group, in the negotiations for the 20-year lease. Cassie Durand, Sacha Zarba and Aylin Gucalp, also with CBRE, represented Meow Wolf.

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DelawareDevelopmentNortheastRetail

Weis Markets Breaks Ground 64,000 SF Grocery Store in Middletown, Delaware

by Taylor Williams

MIDDLETOWN, DEL. — Regional grocer Weis Markets has broken ground on a 64,000-square-foot store in Middletown, Del. The store, which will include a fuel station, will anchor Bayberry Town Center, a 280,000-square-foot development located within the 1,500-acre Village of Bayberry master-planned community. Construction is expected to be complete before the end of the year. Blenheim Group is the master developer of Village of Bayberry.

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DevelopmentLeasing ActivityMultifamilyNew YorkNortheastRetailTop Stories

Life Time to Open 80,000 SF Athletic Club at Brooklyn Tower  

by Kristin Harlow

NEW YORK CITY — Life Time (NYSE: LTH) has announced an agreement with Silverstein Properties to open an athletic country club at Brooklyn Tower, a 74-story residential skyscraper located at 9 Dekalb Ave. in downtown Brooklyn. The health and wellness experience will mark Life Time’s largest location in Brooklyn at approximately 80,000 square feet. Life Time Brooklyn Tower will span seven floors throughout the 1,066-foot-tall building. Life Time’s programming will include studio classes, personal training, strength and fitness offerings and amenities. Highlights of the new club will include: Life Time Brooklyn Tower is expected to open in the second half of 2026. Additional information will be provided as the project progresses, and a waitlist for members has been established. Brooklyn Tower integrates the historic Dime Savings Bank of Brooklyn into its design and features 143 luxury condominiums and 398 rental units. Silverstein gained full control of the project in a $672 million deal last year and is expected to relaunch condo sales in April, according to the Brooklyn Daily Eagle, which reports that only 20 of the tower’s condos have sold since its 2022 launch. “As the new owner of Brooklyn Tower, Silverstein Properties is committed to a successful completion …

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DevelopmentGeorgiaIndustrialOfficeSoutheast

Coca-Cola United Opens $19M Flex Facility in Jasper, Georgia

by John Nelson

JASPER, GA. — Coca-Cola Bottling Co. United Inc. has opened a new $19 million sales center and warehouse in Jasper, about 60 miles north of Atlanta. Situated on three acres off Hugh Mullins Court, the 26,000-square-foot facility includes a sales and distribution center, warehouse, fleet shop and office space. Jasper Coca-Cola will operate the facility, which will serve as a hub to distribute Coca-Cola products throughout Cherokee, Fannin, Gilmer, Pickens, Towns and Union counties. Established in 1932, Jasper Coca-Cola joined the Coca-Cola United family of bottlers in 2017. The company employs 58 associates, serves more than 1,000 customers and sells and distributes nearly 2 million cases of Coca-Cola products annually.

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Andorra-Shopping-Center-Philadelphia
DevelopmentNortheastPennsylvania

Federal Realty Breaks Ground on $30M Retail Redevelopment Project in Northwest Philadelphia

by Taylor Williams

PHILADELPHIA — Federal Realty Investment Trust has broken ground on a $30 million retail redevelopment project in northwest Philadelphia. Federal Realty is repositioning 30,000 square feet of inline space at Andorra Shopping Center and developing a 50,000-square-foot GIANT grocery store from the ground up. Other plans for the redevelopment call for approximately 14,000 square feet of landscaped plazas and outdoor dining spaces, as well as expanded sidewalks and curbside pickup spaces and a reconfiguration of the north-end parking lot to create an internal pathway to the main shopping center. Andorra Shopping Center currently houses tenants such as T.J. Maxx, Five Below and Kohl’s, and childcare provider KinderCare is planning to open a 10,000-square-foot facility as part of the redevelopment. Construction work is expected to be complete by the end of the year, with store openings slated for 2026.

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AlabamaDevelopmentLoansMultifamilySoutheast

Berkadia Arranges $35M Construction Loan for Multifamily Development in Montgomery, Alabama

by John Nelson

MONTGOMERY, ALA. — Berkadia has arranged a $35 million construction loan for The ONE at Montgomery, a new 264-unit multifamily development in Montgomery. Brad Williamson, Patrick Johnson, Mitch Sinberg, Scott Wadler and Matt Robbins of Berkadia’s Miami office arranged the financing on behalf of the Miami-based borrower, One Real Estate Investment (OREI). Synovus Bank provided the floating-rate loan at an approximately 65 percent loan-to-cost ratio. Located at 10510 Chantilly Parkway, the garden-style development will offer a mix of 96 one-bedroom units, 132 two-bedroom units and 36 three-bedroom units. Units will range in size from 827 square feet to 1,254 square feet. Amenities at the property will include a swimming pool with a cabana and sauna, fitness and yoga studio, multiple dog parks and a golf simulator. Construction on The ONE at Montgomery is currently underway and is slated to complete in mid-2026.

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Siemens-Fort-Worth
DevelopmentIndustrialTexas

Siemens Completes $190M Manufacturing Plant in South Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Siemens has completed a $190 million manufacturing plant in Fort Worth. The 500,000-square-foot facility is located at 7200 Harris Legacy Drive on the city’s south side and will support the data center industry via production of electrical equipment such as low-voltage switchboards. Siemens has already hired about 480 people to staff the facility and expects to employ as many as 800 individuals at the site by 2026. According to Fort Worth Report, the project was executed as part of the German conglomerate’s pledge to invest $10 billion in the U.S. manufacturing sector.

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