Thursday, July 17, 2025
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Development

DevelopmentMultifamilyNorth CarolinaSoutheast

Haven Communities, Wheelock Street Purchase Land in Charlotte’s South End for Multifamily Development

by John Nelson

CHARLOTTE, N.C. — Haven Communities and Wheelock Street Capital have purchased a 1.9-acre site at the corner of South Church and West Bland streets in Charlotte’s South End district. The firms were able to buy the property with the assistance of its capital advisor, Patterson Real Estate Advisory Group. Haven and Wheelock are planning to co-develop Haven South End, a 304-unit, Class A multifamily development at the site. The partnership plans to break ground this summer. Haven South End is located near the LYNX Blue Line’s Bland Street Station and the Charlotte Rail Trail and has immediate access across I-277 into Uptown Charlotte. Haven Communities is a developer of multifamily and student housing communities and mixed-use developments across the Southeast, Wheelock is a private real estate investment firm and Patterson is a capital placement and real estate finance advisory firm.

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Affordable HousingDevelopmentDistrict of ColumbiaLoansMultifamilySoutheast

DCHFA Finances 112-Unit Affordable Housing Development in D.C.

by John Nelson

WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has financed a 112-unit affordable housing development in Washington, D.C.’s Anacostia neighborhood on the city’s southeast side. Mid-Atlantic Realty Partners and Taylor Adams Associates are the borrowers and co-developers of the $52.6 million development. DCHFA financed the project with a $27 million in tax-exempt bond financing and the underwriting of $20.6 million in 4 percent low income housing tax credits (LIHTC). Additionally, the DC Department of Housing and Community Development is providing a $16.5 million loan from its Housing Production Trust Fund for the property. The new community will be located at 2442 Martin Luther King Ave SE, just 500 feet from the Anacostia Metro Station. The apartments will be priced at 30 to 50 percent of area median income relative to Ward 8’s Anacostia neighborhood. The property will consist of 24 one-bedroom, 57 two-bedroom and 31 three-bedroom apartments. Six units will be designated Permanent Supportive Housing (PSH) units and will be supported by the Local Rent Supplement Program. Community Connections of DC will provide supportive services for the residents of the PSH units. The community’s planned amenities include a business center, community room and a parking garage with …

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DevelopmentGeorgiaIndustrialSoutheast

CA Ventures Enters Partnership with AIG for 215,000 SF Industrial Development in Newnan, Georgia

by John Nelson

NEWNAN, GA. — CA Ventures has entered into a joint venture partnership with AIG to deliver a 215,000-square-foot, Class A light industrial facility in Newnan. The project, known as Coweta Business Center, will feature 32-foot clear heights, 200 auto parking spaces and up to 55 dock doors. The site is located adjacent to Interstate 85, less than one mile from the full diamond interchange at Exit 51. The joint venture partnership is planning to start construction later this year and finish construction in December. Wes Budd and Chris Irby of NAI Brannen Goddard represented CA in the acquisition of the land and will also be leasing the project. Mark Sixour, Dennis Mitchell, Matt Wirth and Britton Burdette of JLL Capital Markets arranged the joint venture partnership. CA Ventures, a Chicago-based firm, is a global real estate development and investment management company. AIG is a global finance and insurance firm based in New York City.

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DevelopmentIndustrialSoutheastTennesseeWalker & Dunlop

Walker & Dunlop Structures Equity for 171,000 SF Industrial Development in Nashville

by John Nelson

NASHVILLE, TENN. — Walker & Dunlop has structured joint venture equity for Myatt Drive Industrial, a 171,000-square-foot facility in Nashville. Heather McClure of Walker & Dunlop’s Capital Markets advised the client, CA South Development, in sourcing a joint venture partner, a Texas-based private equity fund, to fully capitalize the development. The project will be situated on 16 acres two miles south of Interstate 65 and 13 miles of downtown Nashville. The Class A development will have high-end office finishes and consists of 5-10 percent front office and 90 percent warehouse capacity in the rear. The transaction is Walker & Dunlop’s first deal with CA South, a women-owned industrial development firm based in Nashville.

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DevelopmentOfficeTexas

KDC Breaks Ground on $59.5M Phase II of Independent Bank’s Headquarters Campus in McKinney

by Taylor Williams

MCKINNEY, TEXAS — Developer KDC has broken ground on Phase II of the headquarters campus for Independent Bank (NASDAQ: IBTX) in the northern Dallas suburb of McKinney. The project is valued at roughly $59.5 million. The new office building will rise six stories and span 198,000 square feet and will be located within the Craig Ranch master-planned development. Independent Bank’s existing building totals 165,000 square feet. Phase I was completed in 2019, and Phase II is expected to be complete in 2022.

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DevelopmentIndustrialTexas

Uzin Utz North America to Open $34M Manufacturing Plant in Waco

by Taylor Williams

WACO, TEXAS — Uzin Utz North America, a Colorado-based supplier of product installation systems for all types of flooring, will open a $34 million plant in Waco. The 125,000-square-foot facility will produce self-leveling compounds, thin set and grout material for tile installation, as well as patching compounds under the Uzin brand. The new facility will be located at the intersection of Mars Drive and Texas Central Parkway and will mark the third location in North America for the company, which is also a subsidiary of German chemical manufacturer Uzin Utz. A tentative opening date was not released.

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Lomax-Container-Housing-Project-Dallas
Affordable HousingDevelopmentMultifamilyTexas

CitySquare to Develop Affordable Housing Property in Dallas Using Shipping Containers

by Taylor Williams

DALLAS — Nonprofit organization CitySquare Housing will develop the Lomax Container Housing Project, an endeavor that will convert old shipping containers into affordable housing for Dallas residents. Construction of the project, which will be located at the intersection of S. Malcolm X Boulevard and Louise Avenue on the city’s southeast side, is expected to begin during the first quarter. Units will average 300 square feet and will be reserved for renters earning 60 percent or less of the area median income. Dallas-based Merriman Anderson/Architects designed the project. Shipping containers make for viable living structures because they are modular and are built out offsite and delivered complete with just hook-ups necessary.

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1715-W-Elliott-Rd-Gilbert-AZ
ArizonaDevelopmentIndustrialOfficeWestern

Graycor Completes 120,294 SSF Gilbert Spectrum V Flex Building in Arizona for Northrop Grumman

by Amy Works

GILBERT, ARIZ. — On behalf of SunCap Property Group, Graycor Construction Co. has completed Gilbert Spectrum V, a flex office and industrial building located at 1715 W. Elliott Road in Gilbert. The two-story, 120,294-square-foot building adds to the expansion of Northrop Grumman’s multi-building satellite manufacturing campus in Gilbert. The building features 15-foot floor-to-floor elevations; state-of-the-art interior common areas and workspaces; and an outdoor employee amenity area with landscaping, shade canopies and seating. Additionally, the building offers a flagstone veneer exterior accented with steel canopies and 602 covered and surface parking spaces, including four electric vehicle charging stations. Graycor is completing Northrop Grumman’s interior build-out of Building V in two phases, with final delivery scheduled during first-quarter 2021. Balmer Architectural Group is serving as the building architect and Gensler is the tenant improvement architect. Bowman Consulting Group is serving as civil engineer. Gilbert Spectrum Building V is the latest property completed by SunCap and Graycor at the 63-acre Gilbert Spectrum Business Park. Already completed buildings include Northrop Grumman’s original 58,289-square-foot office building (delivered in 2017) and a 135,745-square-foot, 32-foot clear height manufacturing building leased to off-road vehicle supplier SDHQ Off Road, Pella Windows and disinfectant wipe manufacturer GPMI. At build out, …

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Las-Flores-Santa-Monica-CA
Affordable HousingCaliforniaDevelopmentMultifamilyWestern

Community Corp., R.D. Olson Construction Break Ground on 73-Unit Affordable Housing Project in Santa Monica

by Amy Works

SANTA MONICA, CALIF. — Developer Community Corp. of Santa Monica and general contractor R.D. Olson Construction have broken ground on Las Flores Santa Monica, a 94,000-square-foot affordable housing community in Santa Monica. The family-focused property is slated for completion in fall 2022. Las Flores Santa Monica will feature 35 one-bedroom, 19 two-bedroom and 19 three-bedroom apartments above a below-grade parking garage. Community amenities will include exterior decks and lounge areas, a playground, community laundry, community rooms, exterior walkways and landscaping. Designed by DE Architects, the property’s exterior façade will feature stucco with architectural metal panels. Located at 1834 14th St., the property is within walking distance of Santa Monica’s retail, dining and entertainment options, as well as Santa Monica College and Memorial Park.

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AcquisitionsDevelopmentIndustrialMarylandSoutheast

JLL Arranges Sale of 70-Acre Industrial Development Site in Hagerstown, Maryland

by John Nelson

HAGERSTOWN, MD. — JLL has arranged the sale of a 70-acre industrial development site that is located at the intersection of Interstates 81 and 70 in Hagerstown, near the Pennsylvania and West Virginia borders. JLL worked on behalf of the seller, Washco Management. Penzance, a real estate investment firm in the greater Washington, D.C., metropolitan area, purchased the fully entitled site. Additionally, JLL has been engaged to source construction financing and lease the property on behalf of the developer, which will begin construction of an 825,000-square-foot Class A distribution building on the site this spring. The property is part of the I-81 Corridor Industrial market, which encompasses Berkeley County, W.Va.; Frederick and Winchester Counties in Virginia; and Washington County, Md. The site is close to four major seaports on the East Coast and will have auto and trailer parking upon completion. The JLL Capital Markets Investment Advisory team representing the seller included Jay Wellschlager, Bruce Strasburg, Craig Childs and Elizabeth Runge. Dave Dannenfelser and Tyler Boykin of JLL provided local market expertise, and Michael Moorehead of JLL provided guidance on site and development costs. Rob Carey, Susan Carras and Paul Spellman of JLL’s debt placement team is arranging financing on …

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