Development

ATCO Obtains $66M Refinancing for Kinship Apartments in North Charlotte

by John Nelson July 8, 2025

CHARLOTTE, N.C. — ATCO Properties & Management has obtained a $66 million loan for the refinancing of Kinship, a newly built, 301-unit apartment community in Charlotte. The property is the first multifamily component to come on line at Camp North End, a 76-acre adaptive reuse development on the north end of Charlotte. Mark Gallinaro of WelcomeLend arranged the three-year bridge loan from Benefit Street Partners. Kinship was 35 percent occupied at the time of the loan closing. The property features studio, one- and two-bedroom apartments with some live-work floorplans and fully furnished corporate housing options. Amenities include work-from-home office spaces, an outdoor pool and lounge area, gas grills and fire pits, fitness center, communal kitchen, conference room, bike storage, rideshare spots, a parking garage and a shared rooftop space. Greystar operates Kinship on behalf of ATCO.

July 8, 2025

Alabama Development Leasing Activity Retail Southeast

Willow Capital Adds Target, Academy Sports to Shopping Center Roster in Albertville, Alabama

by John Nelson July 8, 2025

ALBERTVILLE, ALA. — Willow Capital Partners has landed anchor tenants to join Sand Mountain Marketplace, a 250,000-square-foot shopping center under construction at 10722 U.S. Route 431 in Albertville, about 47 miles south of Huntsville. The 30-acre property will be anchored by the first ground-up Target in Alabama since 2007, according to JLL’s Hugo Isom, who is handling the leasing assignment at Sand Mountain Marketplace with colleague Clint Isom. Other tenants that have signed on at the center include Academy Sports + Outdoors, Burlington and HomeGoods. There is 20,000 square feet of inline shop space available for lease, as well as three outparcels. Willow Capital Partners plans to deliver the development in spring 2027.

July 8, 2025

Development Hospitality Illinois Midwest

Bradford Allen Opens 206-Room Hyatt Centric Hotel Near Chicago O’Hare Airport

by Kristin Harlow July 8, 2025

ROSEMONT, ILL. — Bradford Allen has opened the Hyatt Centric Chicago O’Hare, a 206-room hotel near the Chicago O’Hare International Airport and Rivers Casino in Rosemont. Following more than $30 million in renovations to the former Hyatt Rosemont Chicago/O’Hare, the property features completely remodeled guest rooms, upgraded common areas and meeting spaces and the addition of Cima Restaurant, a new upscale Mediterranean-inspired restaurant. Hyatt Centric is an emerging full-service lifestyle hotel concept from Hyatt Hotels Corp. Bradford Allen acquired the property in 2022 and collaborated with Hyatt on the remodel. Common areas include a fitness center and two banquet rooms with combined capacity of up to 500 people. New features include an all-glass porte cochere, reconfigured lobby, food-and-beverage outlets and private dining spaces. Renovations also included a new roof, fire system, HVAC and building automation systems.

July 8, 2025

Acquisitions Development Multifamily New Jersey Northeast

JLL Negotiates Sale of Multifamily Development Site in Kearny, New Jersey

by Taylor Williams July 8, 2025

KEARNY, N.J. — JLL has negotiated the sale of a multifamily development site in the Northern New Jersey community of Kearny that is fully approved for the development of 136 market-rate townhomes. The site is located at 55 Passaic Ave., adjacent to a community park that is also under construction. Jose Cruz, Ryan Robertson, Steve Simonelli, Michael Oliver, Elizabeth DeVesty and Austin Pierce of JLL represented the locally based seller, Russo Development, in the transaction. The buyer, PulteGroup Inc., will continue the development as Bridgeview by Pulte Homes.

July 8, 2025

Acquisitions Development Kansas Midwest Mixed-Use Retail Top Stories

IRG, Provider to Redevelop 60-Acre Towne West Square Mall in Wichita, Kansas

by John Nelson July 8, 2025

WICHITA, KAN. — Industrial Realty Group LLC (IRG) and Provider Real Estate Partners LLC (PREP) have acquired Towne West Square Mall, a 650,000-square-foot shopping mall in southwest Wichita. The partnership plans to redevelop the 60-acre property into a multi-tenant campus called Wichita Business Park. “The City of Wichita is thrilled to have new ownership of this property and is excited about the redevelopment plan proposed by IRG and PREP,” says Wichita Mayor Lily Wu. After nearly 44 years in operation, Towne West Square Mall closed its doors officially over the July 4 weekend. The last three businesses to remain operating at the mall include Dillard’s and JC Penney, which were the mall’s original department store anchors, and locally owned and operated Boulevard Theatres, according to local media outlets. IRG and PREP plan on redeveloping the property through a conversion of the former mall and department store space. The team will expand the former mall’s retail and commercial uses to offer modern office, light industrial, advanced manufacturing, research-and-development and flex spaces. In May, Wichita’s Planning Commission and City Council approved a zoning overlay that will help facilitate the redevelopment of Towne West Square Mall. “We are confident in Wichita Business Park’s …

July 8, 2025

Development Mixed-Use Texas

Kaizen Development Begins Work on Chalk Hill Mixed-Use Redevelopment in Uptown Dallas

by Taylor Williams July 7, 2025

DALLAS — Kaizen Development Partners has begun work on Chalk Hill, a mixed-use redevelopment project in Uptown Dallas. Kaizen is now demolishing all structures on the 2.3-acre site at the corner of Wolf and North Harwood streets, which previously served as the home of North Texas Public Broadcasting. Plans for Chalk Hill include over 400,000 square feet of Class A office space, a 217-key luxury hotel that will be developed in partnership with HN Capital Partners, 61 luxury condos and multiple food-and-beverage options. BOKA Powell is designing Chalk Hill, and Balfour Beatty is serving as the general contractor. JLL is leasing the office space.

July 7, 2025

Development Industrial Loans Texas

JLL Arranges Construction Financing for 377,300 SF Spec Industrial Project in San Marcos, Texas

by Taylor Williams July 7, 2025

SAN MARCOS, TEXAS — JLL has arranged an undisclosed amount of construction financing for Phase I of San Marcos Business Park, a speculative industrial project that will add 377,300 square feet of space to the local supply. Located within the Whisper South master-planned development, the rear-load building will feature 36-foot clear heights, 75 dock doors, two drive-in doors and an ESFR fire sprinkler system. Matt Stewart, Ace Sudah, Jackson Finch, Jacob Michael and Cameron Sepahi of JLL arranged the loan through an undisclosed regional bank on behalf of the developer, Ledo Capital Group.

July 7, 2025

Development Industrial Self-Storage Texas

SurePoint to Develop 90,000 SF Self-Storage Facility in The Woodlands, Texas

by Taylor Williams July 7, 2025

THE WOODLANDS, TEXAS — SurePoint Development, a self-storage owner-operator based in San Antonio, will develop a 90,0000-square-foot (net rentable) facility in The Woodlands, about 30 miles north of Houston. The number of units has not yet been finalized. The site is located near the intersection of Six Pines Drive and Lake Front Circle within The Woodlands Town Center, and the property will feature climate-controlled space. Construction is scheduled to begin next spring and to be complete in the first quarter of 2027.

July 7, 2025

Acquisitions Affordable Housing Development Multifamily North Carolina Southeast

Coldwell Banker Brokers $3.4M Sale of Multifamily Development Site in Charlotte

by John Nelson July 7, 2025

CHARLOTTE, N.C. — Coldwell Banker Commercial Realty has brokered the $3.4 million sale of a 3.4-acre, multifamily-zoned parcel at 5703-5707 N. Tryon St. in Charlotte. The buyer, The Annex Group, plans to develop a 200-unit affordable housing community on the site. Capital partners for the project include City of Charlotte, Bank of America and the North Carolina Housing Financing Authority (NCHFA). The construction timeline was not released. Ryan Pilsy of Coldwell Banker represented the land seller, an entity doing business as Kilbros3 LLC, in the transaction. Annex Group was represented internally by Joy Skidmore and Ryan Clark.

July 7, 2025

Hospital-for-Special-Surgery-Sports-Medicine-Institute-West-Side

Development Healthcare New York Northeast

Skanska Completes Healthcare Renovation Project in Midtown Manhattan

by Taylor Williams July 7, 2025

NEW YORK CITY — International development and construction firm Skanska has completed the renovation of the Hospital for Special Surgery Sports Medicine Institute West Side in Midtown Manhattan. The project transformed the fourth floor of the facility into an outpatient clinic and introduced 15 new exam rooms, offices and a storage area. Skanska, working with Batska Consulting Group, also upgraded the building’s mechanical, electrical and plumbing systems to accommodate the new operations. Additional improvements included the integration of a new X-ray room and an ultrasound-guided injection exam room. Construction began in August 2024.

July 7, 2025

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