Thursday, May 7, 2026
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DevelopmentIndustrialSoutheastVirginia

Meridian, Wickshire Break Ground on 1 MSF Industrial Facility in Winchester, Virginia

by John Nelson

WINCHESTER, VA. — The Meridian Group and Wickshire Industrial have broken ground on Phase I of One Logistics Park, a 2.7 million-square-foot industrial campus located near I-81 in Winchster. The first phase comprises a 1 million-square-foot, cross-dock facility that will feature 40-foot clear heights, 50- by 54-foot column spacing, tilt-wall construction, 65-foot speed bays, 250 trailer drops and 230 parking spaces. At full buildout, the 277-acre One Logistics Park will feature distribution facilities as well as 100,000 square feet of quick-service restaurants, a gas station/convenience store and other retail options. The project team includes civil engineer Gordan, horizontal construction manager Perry Engineering and architect and general contractor Shockey. John Lesinski and Ben Luke are leading the Colliers team to market the project.

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AcquisitionsAlabamaMultifamilySoutheast

Cushman & Wakefield Brokers Sale of Seleno at Bridge Street Apartments in Huntsville

by John Nelson

HUNTSVILLE, ALA. — Cushman & Wakefield has brokered the sale of Seleno at Bridge Street, a 244-unit apartment community in Huntsville. California-based Steadfast Cos. purchased the community from Connecticut-based Twenty Lake Holdings for an undisclosed price. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller in the transaction. Seleno at Bridge Street serves at the multifamily component of Bridge Street Town Centre, a mixed-use development comprising hotels, offices and retailers including Apple, H&M, The Cheesecake Factory, Main Event and PBR x Lockhart Smokehouse. Built in 2019, the apartment community includes a fitness center, heated resort-style swimming pool with in-pool loungers, clubhouse with TVs and a kitchen/coffee bar, dog park and pet spa, game lounge with glass garage doors overlooking the pool area, a karaoke room and focus rooms.

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AcquisitionsAlabamaMultifamilySoutheast

Cushman & Wakefield Brokers Sale of Selano at Bridge Street Apartments in Huntsville

by John Nelson

HUNTSVILLE, ALA. — Cushman & Wakefield has brokered the sale of Selano at Bridge Street, a 244-unit apartment community in Huntsville. California-based Steadfast Cos. purchased the community from Connecticut-based Twenty Lake Holdings for an undisclosed price. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller in the transaction. Selano at Bridge Street serves at the multifamily component of Bridge Street Town Centre, a mixed-use development comprising hotels, offices and retailers including Apple, H&M, The Cheesecake Factory, Main Event and PBR x Lockhart Smokehouse. Built in 2019, the apartment community includes a fitness center, heated resort-style swimming pool with in-pool loungers, clubhouse with TVs and a kitchen/coffee bar, dog park and pet spa, game lounge with glass garage doors overlooking the pool area, a karaoke room and focus rooms.

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DevelopmentFloridaLeasing ActivityMixed-UseOfficeRestaurantRetailSoutheast

Tricera Capital Signs New Tenants at The Press Mixed-Use Project in West Palm Beach

by John Nelson

WEST PALM BEACH, FLA. — Tricera Capital has signed new office and retail tenants to join The Press, a mixed-use redevelopment of the former Palm Beach Post campus in West Palm Beach. The project comprises two components: the 120,000-square-foot Shops at the Press and the 136,000-square-foot Workspaces at the Press. The new tenants, which combined will occupy 68,000 square feet, include Salons by JC, interior design firm Calico, health concept Restore Hyper Wellness, Raw Juice, self-storage investor SROA Capital, coworking concept Knotel and mortgage broker Blue Sky Financial. In addition to the new leases, Miami-based Tricera Capital has upsized its loan with Chicago-based Monroe Capital by $19 million to help fund tenant and site improvements. Jason Krane of Ackman-Ziff Real Estate Group arranged the financing on behalf of Tricera Capital.

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AcquisitionsGeorgiaRestaurantRetailSoutheast

Franklin Street Arranges $8.4M Sale of CVS-Anchored Retail Center in Atlanta

by John Nelson

ATLANTA — Franklin Street has arranged the sale of Parkwood Shops, a 20,397-square-foot retail strip center located at 2014 SE Powers Ferry Road in Atlanta’s Cumberland-Galleria submarket. SITE Centers purchased the center from Ronus Properties for $8.4 million. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction. CVS/pharmacy anchors the property, which was fully leased at the time of sale to tenants including Boston Market, Jersey Mike’s, Planet Smoothie, Piu Bello Pizzeria, Hikaru Ramen and Personal Touch Cleaners. All tenants have at least four years remaining on their lease terms, according to Franklin Street.

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Alliance-Westport-25-Fort-Worth
DevelopmentIndustrialTexas

Hillwood Breaks Ground on Two Spec Industrial Buildings Totaling 1.7 MSF in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Hillwood has broken ground on Westport 25 and Alliance Center North 4, two speculative industrial buildings totaling approximately 1.7 million square feet at AllianceTexas on the north side of Fort Worth. Alliance Westport 25 will be a cross-dock building with 40-foot clear heights, two 190-foot truck courts with land to expand to a third, 504 car parking spaces (expandable to 584) and 233 trailer parking spaces (expandable to 471). Alliance Center North 4 will also feature a cross-dock configuration and 40-foot clear heights, as well as 185-foot truck court depths, 180 car parks (expandable to 487) and 132 trailer parking spaces (expandable to 243). GSR Andrade Architects is designing the projects, and Peloton Land Solutions is serving as the civil engineer. Hillwood Construction Services will be the  general contractor. Citizens Bank provided construction financing for Westport 25, and Comerica Bank is the construction lender for Alliance Center North 4. Construction on both buildings will begin within the next 30 days, with completion slated for the second and third quarters of 2023, respectively.

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AcquisitionsIllinoisIndianaMidwestMultifamily

Morgan Properties Acquires Two Midwest Multifamily Portfolios for $410M

by Kristin Harlow

ILLINOIS AND INDIANA — Morgan Properties has acquired two multifamily portfolios totaling eight communities and 2,986 units in Illinois and Indiana for $410 million. With the addition of these new assets, Morgan Properties now owns and operates 2,035 units in Illinois, 3,692 units in Indiana and more than 95,000 units nationwide. The Illinois portfolio consists of The Lakes of Schaumburg in Schaumburg, Blackhawk Apartments in Elgin and The Gates of Deer Grove in Palatine. The Indiana portfolio consists of The Boardwalk at Westlake, Parkside at Castleton Square, Lakeside Crossing at Eagle Creek, The Elliott at College Park and The Preserve on Allisonville. Morgan Properties plans to invest more than $40 million in capital improvements across the two portfolios. The seller was undisclosed.

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Affordable HousingDevelopmentIllinoisMidwestMultifamily

Habitat Co., P3 Markets Top Out $100M Mixed-Income Apartment Project in Chicago

by Kristin Harlow

CHICAGO — The Habitat Co. and P3 Markets have topped out construction of the first building at 43 Green, a $100 million mixed-income apartment development in Chicago’s Bronzeville neighborhood. Centered around the Chicago Transit Authority’s 43rd Street Green Line station, the project represents the first equitable transit-oriented development (ETOD) on Chicago’s South Side. The project will be developed in three phases and ultimately bring 300 new apartments to the neighborhood. The first building is the largest of the three planned buildings. The 10-story asset will house 99 apartment units as well as 5,500 square feet of retail space. Half of the units will be reserved for households earning up to 60 percent of the area median income. Construction of Phase I is slated for completion in February 2023. Construction on Phase II is expected to begin later this year. Bowa Construction and McHugh Construction are jointly building the project. Landon Bone Baker is the architect. Momentum Coffee and Super Cycle will occupy retail space. Financing for 43 Green involved a multi-layered capital stack, including the use of the City of Chicago’s low-income housing tax credits allocation and tax credit investor Stratford Capital. Fifth Third Bank provided debt via HUD’s 221(d)(4) …

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DevelopmentIndustrialMidwestWisconsin

Zilber Property Group to Build 1.6 MSF Industrial Park in Caledonia, Wisconsin

by Kristin Harlow

CALEDONIA, WIS. — Zilber Property Group has acquired a 93-acre land site with plans to build a new industrial park in Caledonia, about 20 miles south of Milwaukee. Named Caledonia Corporate Park, the project will be comprised of up to five speculative industrial buildings totaling approximately 1.6 million square feet. The development will be situated along the I-94 Corridor. Site preparation and infrastructure work will begin shortly, with construction expected to commence in the spring. Chad Navis and Rachel Agba represented Zilber on an internal basis for both the land acquisition and development entitlement process. Michael Kleber of Zilber will oversee lease-up. Pinnacle Engineering Group is the project architect and Riley Construction is the general contractor.

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DevelopmentMidwestMinnesotaMultifamily

Kraus-Anderson Completes $38.6M Multifamily Project in St. Paul

by Kristin Harlow

ST. PAUL, MINN. — Kraus-Anderson Development Co. has completed construction of MODA on Raymond, a $38.6 million multifamily project located at the corner of Raymond and University avenues in St. Paul. Designed by UrbanWorks Architecture, the development houses 220 market-rate apartment units and 2,314 square feet of commercial space. The six-story property is located one block from the Green Line station in the St. Anthony Park neighborhood. Units at MODA on Raymond range from 361 to 1,180 square feet. Amenities include a fitness center, outdoor courtyard, pool, clubroom, rooftop patio, convenience market, pet wash and dog run. Monthly rents start at $1,077 for studios.

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