Development

Toro Development Breaks Ground on $560M Medley Mixed-Use Campus in Johns Creek, Georgia

by John Nelson January 13, 2025

JOHNS CREEK, GA. — Toro Development has officially broken ground on Medley, a $560 million mixed-use development spanning 43 acres in Johns Creek, an affluent northern suburb of Atlanta. Toro plans to hold a grand opening for the development on Oct. 29, 2026. The project is situated at the corner of McGinnis Ferry Road and Johns Creek Parkway, which formerly housed offices for State Farm Insurance. Plans for Medley call for 150,000 square feet of retail, restaurant and entertainment space; a 175-room hotel; 110,000 square feet of offices; 750 apartments; 133 townhomes built by Empire Communities; and a 25,000-square-foot plaza. Toro obtained construction financing for the project in November and announced a new round of retail leasing at the development in December. Medley represents an important component of the city of Johns Creek’s 192-acre town center vision, according to Toro.

January 13, 2025

Development Industrial Office Southeast Tennessee

FlexEtc Completes 91,380 SF Build-Out for New Co-Warehousing, Coworking Space in Nashville

by John Nelson January 13, 2025

NASHVILLE, TENN. — FlexEtc, a hybrid office and industrial co-warehousing concept with a few locations out West and in Texas, has completed its build-out at 1133 Polk Ave. in Nashville. Architectural firm Ware Malcomb recently completed the design for the 91,380-square-foot tenant improvement project. DWC Construction was the general contractor, and Colliers served as the client manager. Situated outside of the downtown area, FlexEtc Nashville features contemporary warehouse spaces, with modular units ranging from 3,000 to 2,300 square feet that are suitable for uses ranging from logistics to content creation studios. The location also offers coworking features including private and shared offices, a front reception area, conference room, lounge, break room, kitchen, coffee bar and studio space for photographers and podcasters.

January 13, 2025

Development Industrial Texas

Core5 Industrial Partners Underway on 652,103 SF Project in McKinney, Texas

by Taylor Williams January 13, 2025

MCKINNEY, TEXAS — Atlanta-based developer Core5 Industrial Partners is underway on construction of a 652,103-square-foot project near the intersection of U.S. Highways 75 and 380 in the northern Dallas suburb of McKinney. The project, which represents Phase III of a larger development known as Core5 Logistics Center at McKinney, will consist of two buildings totaling 492,368 and 159,735 square feet. Holt Lunsford Commercial has been tapped to lease the project, construction of which is expected to be complete in the third quarter.

January 13, 2025

Arizona Development Industrial Western

Overton Moore Properties, Invesco Break Ground on Three-Building Industrial Park in Tempe, Arizona

by Amy Works January 13, 2025

TEMPE, ARIZ. — Overton Moore Properties, in partnership with Invesco Real Estate, has broken ground on Nextwave Tempe, a Class A industrial project situated on 35.5 acres at the former site of the Big Surf Waterpark in northeast Tempe. Located at 1500 N. McClintock Drive, Nextwave Tempe will feature 689,000 square feet in three divisible buildings that can accommodate tenants from 32,000 square feet to 258,727 square feet. Each building will feature heavy power with expansion, abundant parking, full HVAC in the warehouses, speculative offices and private, secured truck yard areas. Layton Construction is serving as general contractor and HPA Architecture is the architect on record. Nextwave Tempe is slated for delivery in fourth-quarter 2025. John Werstler, Cooper Fratt and Tanner Ferrandi of CBRE are the listing brokers for the project.

January 13, 2025

Affordable Housing Development Multifamily New York Northeast

WinnCos. Completes $20.5M Renovation of Buffalo Affordable Housing Complex

by Taylor Williams January 13, 2025

BUFFALO, N.Y. — Regional owner-operator WinnCos. has completed the $20.5 million renovation of West Village Apartments, a historic affordable housing complex in downtown Buffalo. The property comprises 10 buildings totaling 135 units that were constructed between 1891 and 1920. The renovation encompassed upgrades to unit kitchens, bathrooms, doors, windows and building roofs, as well as common area lighting and flooring. In addition, the project team created a community room, management office, bike parking spaces and an additional unit via the conversion of a maintenance shed. Locally based general contractor DiMarco Construction performed the renovation, which also served to preserve and extend the property’s affordability status.

January 13, 2025

Development Illinois Leasing Activity Midwest Retail

Three New Retailers Join Tenant Lineup at East Court Village in Pekin, Illinois

by Kristin Harlow January 13, 2025

PEKIN, ILL. — Ross Dress for Less, Marshalls and Five Below have joined the tenant lineup at East Court Village in Pekin, about 10 miles south of Peoria. The retailers are slated to open in fall 2025. East Court Village, owned by Cullinan Properties, is currently undergoing significant upgrades and improvements.

January 13, 2025

Development Multifamily Northeast Pennsylvania

Urby Begins Leasing 204-Unit Apartment Complex in Philadelphia

by Taylor Williams January 13, 2025

PHILADELPHIA — Urby, a joint venture between Ironstate Development and Brookfield Properties, has begun leasing a 204-unit apartment complex in Philadelphia’s Fishtown neighborhood. Known as Fishtown Urby, the five-story building is located at 1700 Front St. and houses studio, one- and two-bedroom units, as well as retail space that is occupied by multiple food-and-beverage users. Amenities include two courtyards, a rooftop terrace, outdoor grilling and dining stations, a dog park, speakeasy, fitness center and dedicated work-from-home areas. Rents start in the $1500s for a studio apartment.

January 13, 2025

Data Centers Development Industrial Texas

Partnership to Develop 800,000 SF Data Center Campus in South Dallas

by Taylor Williams January 10, 2025

DALLAS — A partnership between two Dallas-based firms, Lincoln Property Co. and Tradition Holdings, as well as infrastructure provider Gigabit Fiber, will develop an 800,000-square-foot data center campus in South Dallas. The site spans 131 acres in the Red Oak submarket. The campus will comprise four facilities that will have a total power capacity of up to 540 megawatts at full build-out and that will support users in cloud computing and artificial intelligence, among others. Construction will be carried out in phases, starting with the development of a 7,500-square-foot, two-megawatt facility in the first quarter. A completion date for the entire development was not disclosed.

January 10, 2025

Development Industrial Loans Texas

Affinius Capital Provides $77.4M Construction Loan for Fort Worth Industrial Project

by Taylor Williams January 10, 2025

FORT WORTH, TEXAS — Affinius Capital has provided a $77.4 million construction loan for West Worth Commerce Center, a 992,000-square-foot industrial project in Fort Worth. The site is located off I-820 between interstates 30 and 20, and the development will consist of four buildings that will feature 32- to-36-foot clear heights, 274 dock-high doors, 12 drive-in doors and parking for 235 trailers and 912 cars. The borrower is a joint venture between Forefront Commercial Real Estate and a fund backed by Ares Management Real Estate. A tentative completion date for West Worth Commerce Center was not disclosed.

January 10, 2025

Development Multifamily Texas

Trademark Tops Out 321-Unit Vickery Apartments in Downtown Fort Worth

by Taylor Williams January 10, 2025

FORT WORTH, TEXAS — Trademark Property Co. has topped out The Vickery, a 321-unit multifamily project in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery will consist of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge, as well as an amenitized green space. Residential amenities will include a pool, rooftop lounge and coworking space. Construction began in February 2024 and is expected to be complete this spring.

January 10, 2025

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