Development

Dwight Mortgage Trust Provides $44M Bridge Loan for Two Seattle-Area Multifamily Projects

by Amy Works October 6, 2025

SEATTLE — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $44 million bridge loan for Seattle-based developer Bode. The financing retires existing construction debt, covers loan transaction costs, funds an interest reserve and supports final construction completion of two assets, Bode Columbia City and Bode Tacoma Dome. Bode Columbia City in Seattle is an 80-unit property featuring one- and two-bedroom floor plans. Bode Tacoma Dome is a 164-unit community in Tacoma, Wash., offering studios and one-, two- and three-bedroom floor plans.

October 6, 2025

Development Industrial North Carolina Southeast

Walmart to Invest $300M for Fulfillment Center in Suburban Charlotte

by Abby Cox October 6, 2025

KINGS MOUNTAIN, N.C. — Walmart Inc. has announced plans to invest $300 million for a 1.2 million-square-foot fulfillment facility located in Kings Mountain, approximately 30 miles west of Charlotte. The project, which is expected to create more than 300 jobs, is scheduled to open in 2027. The fulfillment center will ship large items, such as patio furniture and lawnmowers, directly to customers. The Keith Corp. delivered the industrial building, dubbed Kings Mountain Corporate Center, in late 2023. The project will be facilitated by a Job Development Investment Grant (JDIG), which was awarded to Walmart Fulfillment Services LLC and approved by the state’s Economic Investment Committee. In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina, other partners in this project include the North Carolina General Assembly, the North Carolina Community College System, N.C. Commerce’s Division of Workforce Solutions, the City of Kings Mountain, Gaston County and the Gaston County Economic Development Commission.

October 6, 2025

Development Midwest South Dakota

Capri Pools & Aquatics Completes $31.3M Expansion to University of South Dakota Wellness Center

by Kristin Harlow October 6, 2025

VERMILLION, S.D. — Capri Pools & Aquatics has completed a new 45,800-square-foot expansion to the University of South Dakota Wellness Center. The firm completed the $31.3 million project in partnership with Journey Construction, RGD Planning & Design and Councilman Hunsaker. The natatorium houses an Olympic-sized competition pool, activity pool, Ninja Cross aquatic obstacle course, multipurpose room, hot tub, steam room, athletic locker rooms, expanded wellness locker rooms, a meet management room, coaches’ offices and a lifeguard room. The 12,930-square-foot Olympic-sized competition pool features 50-meter lanes and two movable bulkheads to divide the pool into three separate zones for simultaneous activities. It also includes seating for 400 people.

October 6, 2025

Acquisitions Development Multifamily New York Northeast

JLL Brokers $54.3M Sale of Multifamily Development Site in Brooklyn

by Taylor Williams October 6, 2025

NEW YORK CITY — JLL has brokered the $54.3 million sale of a multifamily development site in Brooklyn. The site at 970 Franklin Ave. is located in the Crown Heights neighborhood and is approved for the development of up to roughly 290,000 buildable square feet of product across 355 apartments, all within a 10-story building. The Continuum Co. sold the site to private investor Isaac Schwartz. Andrew Scandalios, Ethan Stanton, Brendan Maddigan and Michael Mazzara of JLL represented both parties in the transaction.

October 6, 2025

Acquisitions Delaware Development Industrial Northeast

NAI Emory Hill Buys 46-Acre Industrial Development Site in Dover, Delaware

by Taylor Williams October 6, 2025

DOVER, DEL. — NAI Emory Hill, in partnership with NS Development Partners, has purchased a 46-acre industrial development site in Dover. The parcel is located within Garrison Oak Technology Park and is zoned for manufacturing, logistics and technology uses. The seller and sales price were not disclosed. According to Becker Morgan Group, the architecture and engineering firm that designed Garrison Oak Technology Park, the development spans 389 acres across 15 parcels.

October 6, 2025

Development Florida Industrial Leasing Activity Southeast

Stonemont Financial Completes 259,255 SF Industrial Complex in Metro Orlando

by Abby Cox October 6, 2025

OCOEE, FLA. — Stonemont Financial Group has completed 429 Business Center, a 259,255-square-foot industrial complex located in Ocoee, roughly 10 miles outside Orlando near Walt Disney World. HGR Construction Inc. served as general contractor on the project. Cam Montgomery and Matt Sullivan of JLL are handling leasing efforts for 429 Business Center on behalf of Stonemont. 429 Business Center comprises seven buildings and features 20- to 32-foot clear heights, with rear- and front-load options. The facility is currently 49 percent preleased, with buildings 200 and 600 already fully occupied. Atlanta-based Stonemont owns more than 4.4 million square feet of industrial development across Florida and is nearing completion on a 100,698-square-foot facility near Tampa.

October 6, 2025

Development Hospitality Texas

Fertitta Hospitality Completes Renovation of 200-Room Westin Houston Downtown Hotel

by Taylor Williams October 3, 2025

HOUSTON — Fertitta Hospitality, which is part of the entertainment empire of Houston Rockets owner Tillman Fertitta, has completed the multimillion-dollar renovation of the 200-room Westin Houston Downtown Hotel. The project involved the transformation of the lobby, including the bar, restaurant and lounge areas, as well as new flooring, furnishings and amenities in all guestrooms. Meeting spaces were also upgraded with new carpets, lighting and technological features, and the fitness center has received new equipment.

October 3, 2025

Development Retail Texas

Speed Fab-Crete Completes 41,688 SF Honda Dealership in Midland, Texas

by Taylor Williams October 3, 2025

MIDLAND, TEXAS — Speed Fab-Crete, a Fort Worth-based design-build firm and general contractor, has completed the 41,688-square-foot Classic Honda of Midland. The car dealership complex spans seven acres and houses a 36,869-square-foot main dealership building, a 3,343-square-foot pre-owned vehicle facility and a 1,476-square-foot car wash. Fort Worth-based Callahan & Freeman designed the project.

October 3, 2025

Development Industrial Texas

Clay Development Breaks Ground on 40,000 SF Spec Industrial Project in La Porte, Texas

by Taylor Williams October 3, 2025

LA PORTE, TEXAS — Clay Development & Construction has broken ground on a 40,000-square-foot speculative industrial project in La Porte, located east of Houston. The site is located within the 300,000-square-foot Sens Road Business Park, and the building will feature 24- to 28-foot eave heights and build-to-suit office space. Completion is slated for the second quarter of 2026. Colliers is the leasing agent for the new building.

October 3, 2025

Development Industrial New Jersey Northeast

Seagis Property Group Completes 166,725 SF Warehouse in Teterboro, New Jersey

by Taylor Williams October 3, 2025

TETERBORO, N.J. — Metro Philadelphia-based developer Seagis Property Group has completed a 166,725-square-foot warehouse in the Northern New Jersey community of Teterboro. Known as Teterboro Distribution Center, the building at 200 Hollister Road offers proximity to Port Newark-Elizabeth and Liberty International Airport. Building features include a clear height of 40 feet, 3,580 square feet of office space, 37 loading docks, 185-foot truck court depths and parking for 46 trailers and 114 cars. CBRE is marketing the property for lease.

October 3, 2025

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