HUNTINGTON BEACH, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $60.9 million in financing for a 28.9-acre oceanfront redevelopment project in Huntington Beach. Gary Mozer of IPA Capital Markets secured the 18-month, nonrecourse loan on behalf of a California-based investment and development firm. The borrower plans to develop a residential and hospitality property, which was approved by the Huntington Beach City Council, on the parcel. The residential plan includes more than 200 for-sale, single-family detached and attached homes and a 50-unit affordable housing community with 25 units to be rented to hotel workers employed onsite and nearby. The hospitality component will include a 215-room boutique hotel with 19,000 square feet of retail space. Additionally, the project plan includes 2.8 acres of coastal conservation and 4.4 acres of public parks. The project is currently in predevelopment with construction slated to commence near the end of the year.
MESA, ARIZ. — SimonCRE has acquired 64 acres of land for a new mixed-use development dubbed Medina Station in Mesa, roughly 20 miles outside Phoenix. Plans for the roughly 305,335-square-foot project include a multi-tenant retail center, retail outparcels, a restaurant district and a multifamily complex. Tenants at Medina Station will include Boot Barn, Einstein Bros. Bagels, Zara Nails, Café Zupas, GoodVets, U.S. Bank and Hawaiian Bros Island Grill. A Target store and a two-story, 80,000-square-foot Dick’s Sporting Goods will anchor the development. SimonCRE plans to break ground on the project in 2025, with initial tenant openings expected for 2026.
FORISTELL, MO. — Brinkmann Constructors has completed a 127,000-square-foot cold storage distribution center for Coastal Cold Storage in Foristell, about 43 miles west of St. Louis. The facility, the first of three planned phases, was completed in nine months. Coastal Cold Storage owns and operates the property, which is situated along I-70 and features a 55,600-square-foot freezer, 29,300-square-foot cooler with a 42-foot clear height, 23,500-square-foot cold dock spanning 70 feet deep and a total capacity of 16,500 pallet positions. There is also an 8,600-square-foot office and support area.
LAREDO, TEXAS — A partnership between Standard Real Estate Investments and Brennan Investment Group will develop a 433,000-square-foot industrial facility in the Rio Grande Valley city of Laredo. The site is located within Pinnacle Industry Center, and the development will be known as Laredo Pinnacle Development II. Building features will include 156 dock doors, four drive-in doors, 185- to 240-foot truck court depths, an ESFR sprinkler system, parking for 144 cars and 197 trailers and the capacity to accommodate a single or multiple users. Construction is scheduled to begin in the coming days and to be last about a year.
EAGLE PASS, TEXAS — Lee & Associates has negotiated the sale of a 10-acre industrial development site in Eagle Pass, located north of Laredo along the Texas-Mexico border. The site at 4338 El Indo Highway is located within the 2,000-acre Empire Industrial Park. Enrique Volkmer of Lee & Associates represented the seller, an entity doing business as Empire Industrial Park LLC, in the lease negotiations. P.W. Ellis represented the buyer, Pilot Travel Centers LLC, which plans to develop and operate a diesel station and truck stop at the site. Vertical construction of the first 136,000-square-foot building is scheduled to begin in April.
TOMBALL, TEXAS — Advanced Orthopaedics & Sports Medicine will open a 17,452-square-foot medical office in the northern Houston suburb of Tomball. The provider plans to relocate from nearby Cypress to the new building, the site of which is adjacent to Legent North Houston Surgical Hospital, upon completion this fall. Remedy Medical Properties and Kayne Anderson Real Estate are developing the building. Other project partners include architect XA Collective, general contractor Rogers-O’Brien and Up Engineering.
PITTSBURGH — Hawkeye Hotels, an Iowa-based hospitality investment and management firm, will renovate the 135-roomHotel Indigo Pittsburgh East Liberty, which is part of the IHG Hotels & Resorts family of brands. The hotel opened in 2015 via adaptive reuse of multiple 1940s-era buildings, including the former Governor Hotel, and Hawkeye purchased the property in 2022. The renovation will encompass guestrooms and common spaces, and the design, led by Dallas-based Pickard Design Studio, will pay homage to the area’s automotive history, as well as honor the area’s first Native American inhabitants. A construction timeline has not yet been finalized.
GILBERT, ARIZ. — Scottsdale, Arizona-based Diversified Partners has opened Mercy Center, an 11-acre mixed-use development in Gilbert, approximately 22 miles southeast of Phoenix. A mix of retail and office tenants — Galleria Nails, Prizm Dental, Honoré Skin Clinic, Beem Light Sauna, Brickhouse Dental and Willow Midwife — have already opened. Kolache Café and The Cabinet Design Studio are under construction and will soon join the tenant roster. Additionally, Arizona’s largest Starbucks Coffee is open at Mercy Center, which features a two-story design, a 23-car drive-thru, designated mobile order parking, an elevator and rooftop solar panels that supply 80 to 100 percent of the store’s energy needs. The center is designed to serve the needs of the growing medical and residential community surrounding Mercy Gilbert Medical Center and the soon-to-open Phoenix Children’s Hospital – East Valley.
CHANDLER, ARIZ. — Scottsdale, Ariz.-based Porter Kyle has broken ground on The Wayne, a $60 million multifamily build-to-rent (BTR) project situated on an infill site at 1535 N. Dobson Road in Chandler. The first units are slated for delivery in spring 2026. The community will feature 100 one-, two- and three-bedroom rental homes offering two-car direct-access garages and private backyards. Community amenities will include a resident clubhouse with coworking spaces, private offices, a gym, swimming pool and outdoor kitchen, as well as a dog park and community trail system.
AUSTIN, TEXAS — Balfour Beatty Campus Solutions and the University of Texas at Austin are underway on construction of a $145 million student housing project. The development will replace a six-building, 200-bed student housing complex located along Whitis Avenue on the northwestern part of the campus with a 1,070-bed building. The new student housing building will feature a mix of single and double rooms with community bathrooms, an area housing office and a variety of student amenities, including lounges, study spaces and a university-managed conference center. Clark Nexsen and Levy Dykema are the project architects, and Andres Construction is the general contractor. Demolitions of existing structures and preliminary sitework work commenced in June 2024, and the new facility is scheduled to open in advance of the fall 2027 semester.