ALEDO, TEXAS — Elmore Investments has purchased land in Aledo, located west of Fort Worth, with plans to open a new sports facility. The 5.4-acre site at 400 Bailey Ranch Road is adjacent to Aledo High School, and the new facility will feature pickleball courts, tennis and padel courts, softball and baseball training facilities, a pro shop and a restaurant. Kristen Fegley and Ben Gehrke of LanCarte Commercial Real Estate represented the seller, an entity doing business as The Groves of Aledo, in the transaction. A construction timeline was not disclosed.
GARLAND, TEXAS — A partnership between Canadian owner-operator Tricon Residential and Texas-based developer HHS Residential has completed a 100-unit build-to-rent residential project in Garland, a northeastern suburb of Dallas. Residences will feature three- and four-bedroom floor plans and will have attached two-car garages and fully fenced backyards. Amenities will include a dog park and multiple outdoor recreational spaces. Information on starting rents was not announced.
HOUSTON — General contractor Tellepsen Builders has completed a 10,000-square-foot life sciences facility in northeast Houston. Designed by Pfluger Architects, the facility is known as the San Jacinto College Center for Biotechnology by virtue of its location on that institution’s campus within the Generation Park master-planned development. The center was designed as a laboratory suite with an entry lobby fitted with lockers, a break room and workroom for San Jacinto College students and staff.
WORCESTER, MASS. — Nonprofit owner-operator The Community Builders (TCB) has completed Merrick at the Square, a 49-unit affordable housing project in downtown Worcester. The building offers 11 units for households earning up to 30 percent or less of the area median income (AMI), five units reserved for renters earning 50 percent or less of AMI and 33 units for those making 60 percent or less of AMI. Amenta Emma Architects designed the project, and Saloomey Construction served as the general contractor.
CHARLESTON, S.C. — Woodfield Development has opened Cooper River Farms II, the second phase of the 56-acre Cooper River Farms apartment community located in Charleston. The new four-story building adds 71 studio, one- and two-bedroom residences. Amenities at the property include a fourth-floor sky lounge, community bar, TVs and a pool table. The second phase builds on the existing Cooper River Farms community, which features a saltwater swimming pool, fitness center, nature trails and a dog park. Construction on the development began in May 2024, and the first apartments were delivered in July 2025. The building is currently 50 percent occupied.
CHICAGO — McHugh Construction has commenced the office-to-residential conversion of Wacker Place, a 25-story, 248,000-square-foot art deco tower at 65 E. Wacker Place in downtown Chicago. Mavrek Development and partner ACRES Capital LLC recently closed more than $90 million in financing to launch the project. Pappageorge Haymes Partners is the architect, and Cross Street will oversee residential leasing. Originally built in 1928 as the Millinery Mart Building, the property will be transformed into 252 apartment units across floors 4-24. McHugh is currently overseeing demolition and structural work to prepare for the residential layouts, building systems and amenity spaces. Floors 1-3 will house a reimagined lobby and building services area while maintaining retail tenant Morton’s The Steakhouse, which occupies space at street level and part of the second floor. Upon completion, Wacker Place will offer a mix of 105 studios, 105 one-bedroom and 42 two-bedroom units. In compliance with Chicago’s Affordable Requirements Ordinance, the project will include 51 affordable housing units offered at a weighted average of 60 percent of the area median income. No parking is planned for the building, which has a Walk Score of 100 and is located steps from multiple transit lines. Amenities will include a third-floor …
NEW YORK CITY — Cammeby’s International Group, in partnership with Rybak Development, has unveiled Sky Three Residences Club, a 1 million-square-foot luxury apartment community located in Brooklyn’s Coney Island neighborhood. Leasing has begun for the development, with move-ins expected to begin on Saturday, Nov. 1. The three-tower community was constructed as part of the two-phase Neptune/Sixth development plan, which joins a new retail strip that was built during Phase I. Sky Three Residences Club now anchors South Brooklyn’s West Brighton district. “Cammeby’s and its partners have consistently maintained and reinvigorated the retail offerings to ensure a walkable and vibrant neighborhood,” says a company spokesperson for Cammeby’s International. “With leasing at Sky Three underway, we’re proud to welcome residents to a reimagined West Brighton and to a community setting exceptional standards.” Sky Three features 499 apartment units in studio, one-, two- and three-bedroom floorplans, ranging in size from 500 to 1,000 square feet, according to Apartments.com. Monthly rental rates begin at $3,100. The project team included Zproekt Architecture and interior designer Durukan Design, as well as Tier 2 Landscape Architecture for the project’s exterior landscaping. The development offers more than 100,000 square feet of indoor and outdoor amenities, including an Olympic-size swimming …
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Lee & Associates’ Report: Q3 Results Shaped by Market Uncertainty, Questions of Legality, Tariffs, AI Considerations
Lee & Associates’ 2025 Q3 North America Market Report examines a commercial real estate landscape experiencing some pauses as the effects of exogenous forces work their way through the market. Economic and legal questions, the second- and third-order effects of tariffs, persistently high costs, unemployment concerns and the new realities of artificial intelligence (AI) have combined to produce mixed results across all property types. Demand for office and retail has increased (and their respective pipelines remain constrained). Of the four property types covered in the report — industrial, office, retail and multifamily — only retail saw transaction momentum in the previous quarter. Meanwhile, the overbuilt industrial and multifamily sectors have witnessed weakening or negative demand in the third quarter. Lee & Associates’ full, detailed market report is available to read here. The overviews for the sectors below reveal a market that seems to be holding its breath, awaiting new information. Industrial Overview: Markets Await Tariff Clarity Net absorption of industrial space increased in the third quarter across North America, but demand was weak and failed again to keep pace with the supply of new buildings, while tenant growth remained hobbled by tariff concerns and interest rates. In the United States, following 8.1 million square feet …
IRVING, TEXAS — Wells Fargo (NYSE: WFC) has opened its 850,000-square-foot campus in Irving’s Las Colinas district that will serve as the San Francisco-based banking giant’s new regional headquarters office. Developed by KDC, the campus consists of two 10-story, 400,000-square-foot buildings and a connecting parking garage, as well as various open green spaces, all on a 22-acre site. Amenities include a dining pavilion, fitness center and walking trails. Wells Fargo expects to employ about 3,000 people at the campus, inclusive of the hiring of 650 new staffers. Corgan served as the project architect, and Austin Commercial was the general contractor. Construction began in spring 2023 and topped out about a year later. Wells Fargo first announced the project in fall 2022.
SHENANDOAH, TEXAS — A joint venture between two Houston-based companies, Buckhead Investment Partners Inc. and Juniper Investment Group, will develop a 229-unit multifamily project in Shenandoah, about 35 miles north of Houston. The 3.2-acre site is adjacent to The Woodlands master-planned community, and the development will be known as The WoodLofts. Residences will come in studio, one-, two- and three-bedroom floor plans and will be furnished with stainless steel appliances, granite countertops, in-unit washers and dryers, and private balconies or patios with optional dog yards. Amenities will include a pool, clubhouse and leasing center, fitness center, cybercafé, media room, dog park and an outdoor kitchen. Preleasing is expected to begin in late 2026, with full completion targeted for the third quarter of 2027. Johnson Capital Multifamily, a division of Oak Real Estate Partners, provided FHA-insured construction-to-permanent financing for The WoodLofts.