Property Type

ST. LOUIS — A new $114 million maintenance complex will open at St. Louis Lambert International Airport. The 285,000-square-foot complex will replace the existing 135,000-square-foot facility, which dates to the 1960s and is located in a flood-prone area. Situated on higher ground, the new facility will provide expanded, modernized space to meet the maintenance and sheltering needs of modern airfield equipment. The project will also consolidate critical airfield operations into two facilities, including snow removal, vehicle repair, materials warehousing, landscaping and maintenance functions. These operations are currently spread across nine buildings, some of which are more than 50 years old. Construction began in October 2025 and is expected to be completed in late 2027. KAI is providing mechanical, electrical and plumbing engineering services for the project. Wright Construction Services is the general contractor, Kwame and HR Green Inc. serve as the program manager and Jacobs is the architect and structural engineer. Funding for the project was made possible through a $20 million grant from the Federal Aviation Administration and a $4.6 million grant under the Airport Infrastructure Grants program through the Bipartisan Infrastructure Law.

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OSWEGO, ILL. — JVM Realty Corp. has acquired Springs at Oswego, a 280-unit luxury apartment community in the southwest Chicago suburb of Oswego. Brad Smith and Jack Maloney of Cushman & Wakefield represented the seller, Continental Properties. JVM is rebranding the property to Trillium at Oswego. Completed in 2019, the gated community features townhome-style units across a collection of two-story buildings. Floor plans range from 623 to 1,430 square feet. Amenities include a heated swimming pool, fitness center, clubhouse, outdoor grilling stations, a car wash, two dog parks and a pet spa.

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SOLON, OHIO — The Cooper Commercial Investment Group has brokered the $9.3 million sale of Kruse Commons, a two-building retail center in Solon, a suburb of Cleveland. Anchor tenants at the fully leased property include Panera Bread and Mitchell’s Homemade Ice Cream. Dan Cooper of Cooper Group represented the seller, an Ohio-based investment group. The sale, which closed at a cap rate of 6.79 percent, marks the second time Cooper Group has sold Kruse Commons within the past 18 months.

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MISSION, KAN. — Balls Food Stores has purchased a 12,927-square-foot office building located at 5830 Woodson in Mission to serve as its new corporate headquarters, supporting its network of local grocery stores, including Hen House Market, Price Chopper, Sun Fresh and Payless Discount Foods. Locally owned and operated since 1923, Balls Food Stores was founded by Sidney and Mollie Ball in Kansas City, Kan. The company has grown from a single neighborhood grocery store into one of the Kansas City region’s leading independent grocery retailers. Today, Balls Food Stores operates 25 supermarkets throughout metro Kansas City. David Block and Will Sanders of Block & Co. Inc. Realtors represented Balls Food Stores in the transaction. The former Balls Food Stores headquarters at 5300 Speaker Road in Kansas City is now available for sale through Block & Co.

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HOLLY SPRINGS, N.C. — Genentech, a biotechnology company and member of the Roche Group, has topped out its new $2 billion manufacturing facility in Holly Springs, about 20 miles southwest of Raleigh. The construction milestone marks the completion of the building’s structural framework. The project is Genentech’s first East Coast manufacturing facility. The development was initially announced in May 2025, followed by the groundbreaking in August 2025 and an expansion announcement in January 2026. Once operational, the facility will produce next-generation treatments for metabolic conditions such as obesity. Its operations will incorporate advanced biomanufacturing, automation, robotics and the latest digital manufacturing technologies. The investment in technology includes an advanced digital twin — an artificial intelligence-powered virtual model of the manufacturing facility designed to simulate operations and test scenarios before real-world implementation. The facility is expected to support more than 2,000 jobs, including 500 manufacturing roles and 1,500 construction jobs. Genentech is also partnering with local academic institutions to prepare future members of the workforce for manufacturing careers. The project is part of Switzerland-based Roche and Genentech’s broader $50 billion commitment to research and development (R&D) and manufacturing infrastructure in the United States. Roche and Genentech’s current U.S. footprint includes 13 …

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Jefferson-Pearson-Ranch-Austin

AUSTIN, TEXAS — Metro Dallas-based JPI will develop Jefferson Pearson Ranch, a $90 million multifamily project in northwest Austin. The site spans 9.3 acres at the northwest corner of Pearson Market Circle and Spectrum Drive within the 156-acre Pearson Ranch master-planned development. Designed by The Preston Partnership, Jefferson Pearson Ranch will consist of four buildings that will house 25 studios, 211 one-bedroom units, 90 two-bedroom apartments and 16 three-bedroom residences for a total of 342 units. Amenities will include a pool, fitness center, resident lounge, outdoor grilling and dining stations, a dog park and coworking space. Construction is set to begin in the coming days, with completion anticipated in 2028.

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HOUSTON — A partnership between Dallas-based Apricus Realty Capital and Baltimore-based ABR Capital Partners has purchased an 18.5-acre industrial outdoor storage (IOS) facility in northwest Houston. The facility at 11403 N. Houston Rosslyn Road, which was fully leased at the time of sale to American Piping Products, includes approximately 53,000 square feet of warehouse and service facilities. C.W. Sheehan, Jack Britton, Peyton Ackerman and Nate Henderson of JLL arranged acquisition financing for the deal. The seller and sales price were not disclosed.

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FORT WORTH, TEXAS — Alcon Research LLC, which supports innovation in the field of eye care, has signed an industrial lease renewal and expansion in Fort Worth. The address was not disclosed, but the company’s new footprint is roughly 385,000 square feet. Allyson Yost of Colliers represented the tenant in the lease negotiations. Matt Carthey and Trey Goodspeed with Holt Lunsford Commercial represented the landlord, Boston-based TA Realty.

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HOUSTON — Marcus & Millichap has brokered the sale of The Market at City Park, an 8,024-square-foot retail strip center in South Houston. Built in 2024 on 1.5 acres, the center was fully leased at the time of sale to Chipotle Mexican Grill, Marble Slab Creamery & Great American Cookies, The UPS Store and TLN Family Dental. Chris Gainey and Phillip Levy of Marcus & Millichap represented the seller, local owner-operator Read King, in the transaction. The buyer and sales price were not disclosed.

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NEW ORLEANS — PENN Entertainment Inc. plans to invest approximately $195 million to relocate its Boomtown Casino & Hotel New Orleans riverboat casino operations to a new landside property on adjacent land, pending regulatory approval. If approved, the publicly traded gaming company will rebrand the property, which is expected to open in 2029, as Hollywood Casino New Orleans. The investment will include the build-out of roughly 140,000 square feet of new development, approximately 875 slot machines, 45 table games, a retail sportsbook and multiple dining options. The existing riverboat will be vacated upon opening of the new property, and PENN expects to keep the existing hotel open. The investment would represent the fourth landside relocation of a riverboat casino for PENN, which expects to finance the project with cash on hand, allowing for the option to access its balance sheet or other sources of liquidity. PENN currently operates four other casino destinations in Louisiana, including L’Auberge Casino Resort Lake Charles, L’Auberge Casino Hotel Baton Rouge and Margaritaville Resort Casino and Boomtown Casino Hotel in Bossier City.

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