Friday, January 16, 2026
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Development

Land for new industrial facility
DevelopmentIndustrialSoutheastVirginia

Blue Ridge Beverage Co. Relocates to 80,000 SF Build-to-Suit Industrial Facility in Rustburg, Virginia

by Abby Cox

RUSTBURG, VA. — Locally based Blue Ridge Beverage Co., a full-service wholesale beverage distributor, will move its Lynchburg division of operations to Campbell County in Rustburg with the construction of an 80,000-square-foot industrial facility. The building will house the division’s operations, sales, delivery, product inventory and administrative offices on more than 14 acres at Seneca Commerce Park, a 145,000-square-foot industrial property currently under development. The company will transfer its existing workforce from Lynchburg to the new Rustburg location.

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DevelopmentIndianaMidwestMultifamilyStudent Housing

Purdue Research Foundation, ACC Open 984-Bed Student Housing Community at Purdue University

by Kristin Harlow

WEST LAFAYETTE, IND. — Purdue Research Foundation (PRF) and American Campus Communities (ACC) have opened 3rd & West, a 984-bed student housing development at Purdue University in West Lafayette. Located at the intersection of Third Street and McCormick Road, the complex rises five stories and totals 325,000 square feet. Units come in studio, one-bedroom, two-bedroom and four-bedroom configurations. Amenities include an entry plaza for community gatherings, dual courtyards, study lounges, private study rooms and a fitness center. The first students will move into the new housing at the start of the fall 2025 semester. A public-private partnership between PRF and ACC developed the project. SCB served as architect.

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DevelopmentMidwestMissouriMultifamily

Midas Hospitality, Double Eagle Development Deliver 227-Unit Luxury Apartment Complex Near St. Louis

by Kristin Harlow

ELLISVILLE, MO. — Midas Hospitality and Double Eagle Development have completed MILA Apartments, a 227-unit luxury apartment complex in the St. Louis suburb of Ellisville. The four-story project is situated on a 7-acre site at 15970 Manchester Road. MILA Apartments features eight floor plans for studio, one-, two- and three-bedroom apartments ranging in size from 552 to 1,363 square feet. Amenities include a courtyard, grills, a pool, turf lawns, bocce ball, mini golf, a fitness center, dog park and conference rooms. The property manager is 2B Residential. The project team included Rosemann & Associates as architect and MBG as general contractor. A Starbucks location fronts the property.

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CivicDevelopmentMidwestMinnesota

Opus Completes $12M Aquatic Center for Saint Thomas Academy, Visitation School in Minnesota

by Kristin Harlow

MENDOTA HEIGHTS, MINN. — Opus has completed the STA/Vis Michel Family Aquatic Center in the Minneapolis suburb of Mendota Heights. The $12 million facility on the campus of Saint Thomas Academy is home to the swim and dive teams of both Saint Thomas Academy and Visitation School, which collectively have more than 40 state swim and dive championships. Chip Michel is co-chair of the capital campaign for the facility and title donor, along with his wife Mary. The Michels contributed $6 million toward the project, representing the largest gift in the history of both schools. The aquatic center received more than 1,000 donors. New Jersey-based Fabiano Designs designed the project, which involved the demolition of the previous pool in April 2024. The new 17,000-square-foot facility includes a 25-yard short course with competition pool with eight lanes, a diving board, bleacher seating for 350, an observation deck, exposed wood ceiling and new locker rooms. The center will also serve local swim clubs and Catholic Athletic Association schools. During the school day, the pool will be used for curriculum-based initiatives.

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AcquisitionsDevelopmentKansasMidwestRestaurantRetail

Block & Co. Sells Two Retail Buildings in Suburban Kansas City Slated for Redevelopment

by Kristin Harlow

MERRIAM, KAN. — Block & Co. Inc. Realtors has sold a Chipotle-occupied restaurant property and a Shell convenience store building in Merriam, a southwest suburb of Kansas City. The assets are located on the northeast quadrant of I-35 and Shawnee Mission Parkway. The two buildings were both managed and sold by a Block & Co.-headed investment group to a buyer affiliated with Drake Development to be part of a larger redevelopment project on the north side of Shawnee Mission Parkway. David Block represented the seller.

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The Ranch
ArizonaDevelopmentLeasing ActivityMixed-UseMultifamilyRestaurantRetailTop StoriesWestern

Partnership Receives Final Approval for $1B Mixed-Use Development in Gilbert, Arizona

by Abby Cox

GILBERT, ARIZ. — A partnership between Las Vegas-based IndiCap, Salt Lake City-based Colmena Group and locally based Langley Properties has received final entitlement approval from the Town of Gilbert’s Planning Commission to begin construction for The Ranch, a proposed $1 billion mixed-use development in Gilbert. Situated near the Phoenix-Mesa Gateway Airport and Arizona State University’s Polytechnic Campus, The Ranch will span more than 295 acres and is anticipated to become Gilbert’s largest mixed-use development to date, according to the development team. The project is also expected to create roughly 6,000 jobs during construction. “This entitlement approval marks a turning point not just for The Ranch, but for Gilbert as a whole,” says Todd Ostransky, vice president of regional development at IndiCap. “This development is designed to meet the evolving needs of businesses and residents while driving sustainable economic growth in the region.” Upon full build-out of the multi-phase project, The Ranch will include a 221-acre light industrial component totaling 3 million square feet, 34 acres of retail space and 729 multifamily units across three communities. Steve Larsen of JLL is managing leasing efforts for the industrial portion of the project. Phase I of The Ranch — which is set to break ground in the fall …

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610-Business-District-Houston
DevelopmentIndustrialTexas

Lovett Industrial Breaks Ground on 537,132 SF Spec Project in South Houston

by Taylor Williams

HOUSTON — Locally based developer Lovett Industrial has broken ground on a 537,132-square-foot speculative project in South Houston. The project represents Phase II of a master-planned development known as 610 Business District and will consist of four shallow-bay warehouses that will range in size from 53,110 to 219,487 square feet. At full build-out, the 113-acre development will comprise 1.5 million square feet across nine buildings. Associated Bank is financing Phase II of 610 Business District. Alston Construction is the general contractor for the project, and CBRE is the leasing agent. Completion is slated for the first quarter of 2026.

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AcquisitionsDevelopmentIndustrialTexas

LanCarte Commercial Negotiates Sale of 100-Acre Industrial Development Site in Weatherford, Texas

by Taylor Williams

WEATHERFORD, TEXAS — Locally based brokerage firm LanCarte Commercial has negotiated the sale of a 100-acre industrial development site in Weatherford, a western suburb of Fort Worth. The site is located at the junction of South Main Street and Old Airport Road. The development will feature shallow-bay product that will be marketed for both sale and lease, and the project will also offer build-to-suit opportunities. Darren Cain and Sarah LanCarte of LanCarte represented the seller, Tri-County Electric Cooperative Inc., in the transaction. Mark Boone, also with LanCarte, represented the undisclosed buyer.

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139-Franklin-St.-Manhattan
DevelopmentIndustrialMultifamilyNew YorkNortheastSelf-Storage

Joint Venture Buys Manhattan Self-Storage Facility for $43.5M, Plans Multifamily Conversion

by Taylor Williams

NEW YORK CITY — A joint venture between Broad Street Development and TPG Angelo Gordon has purchased a 56,384-square-foot self-storage facility in Manhattan’s Tribeca neighborhood for $43.5 million with plans to undertake a multifamily conversion. The 10-story building at 139 Franklin St. was originally constructed in 1915 and houses 74 units. Brendan Maddigan, Andrew Scandalios, Ethan Stanton, Hall Oster, Michael Mazzara and Vickram Jambu of JLL represented the seller, the Sofia Family, in the transaction and procured the joint venture as the buyer. A construction timeline for the conversion was not announced.

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TA Travel Center
AlabamaDevelopmentLoansRetailSoutheast

Forman Capital Provides $20M Construction Loan for Redevelopment, Completion of Retail Travel Center Near Mobile, Alabama

by Abby Cox

ROBERTSDALE, ALA. — Forman Capital has provided a $20 million construction bridge loan to LV Petroleum, the largest owner and operator of TA Travel Center franchises in the United States, for the redevelopment and completion of a retail travel plaza at 27801 County Road 64 in Robertsdale. Formerly the Oasis Travel Center, the property has already been converted into a TA Travel Center with all facilities operating, except for diesel fuel sales. Situated about 27 miles east of Mobile, the 51-acre site features 26,797 square feet of retail space, including Subway and Sbarro restaurants, eight gas pumps, five diesel pumps, four diesel emission fluid pumps and parking for 100 vehicles and 220 semi-trucks. Brett Forman, Ben Jacobson, Scott Mehlman, Ty Regnier and Cam Fleury of Forman Capital internally represented the firm in the transaction. LV Petroleum operates more than 40 convenience stores and travel centers throughout the country.   

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