Property Type

Formation Interests, Crescent Real Estate Break Ground on Phase II of Formation Park 10 in Goodyear, Arizona

by Amy Works July 23, 2026

GOODYEAR, ARIZ. — A venture between Formation Interests and an affiliate of Crescent Real Estate has broken ground on Phase II of Formation Park 10, an industrial development located just west of Phoenix in Goodyear. The three-building expansion will bring Formation Park 10 to nearly 689,000 square feet of industrial space across five buildings and 44 acres. Totaling 261,168 square feet, Phase II will accommodate occupiers seeking 100,000 square feet or more of single-tenant space and/or those requiring flexible space from 15,000 square feet to 25,000 square feet. The project team for Phase II includes Deutsche Architecture Group, Kimley-Horn, RVI and Willmeng. Completion is slated for spring 2027. CBRE is overseeing leasing for the project.

July 23, 2026

Acquisitions Retail Washington Western

Kiemle Hagood Negotiates $32M Sale of Multi-Tenant Retail Property in Spokane, Washington

by Amy Works July 23, 2026

SPOKANE, WASH. — Locally based brokerage firm Kiemle Hagood has negotiated the $32 million sale of 5 Mile Shopping Center, a multi-tenant retail center in north Spokane. An entity doing business as Romax 5 Mile LLC purchased the grocery-anchored property from 5-Mile Investment Co. I LLC. Situated on 14.2 acres at 1812 W. Francis Ave., the property features more then 163,000 square feet of retail space. Current tenants include Rosauers, Starbucks Coffee, Chipotle Mexican Grill, Taco Bell, Washington Trust Bank, Mister Car Wash, GNC and Edward Jones. Casey Brazil and Richard Fox of Kiemle Hagood represented the seller in the deal, while Colin Conway and Steve McIntosh of Kiemle Hagood represented the buyer.

July 23, 2026

Acquisitions California Retail Western

CBRE Arranges $30M Sale of Six-Building Retail Portfolio in Long Beach, California

by Amy Works July 23, 2026

LONG BEACH, CALIF. — CBRE has arranged the $30 million sale of Mosaic, a six-building retail portfolio located in downtown Long Beach. An entity doing business as Mosaic Promenade Holdings LLC acquired the property from a partnership between Turnbridge Equities, Waterford Property Co. and Monument Square Investment Group. John Read and Erin Smith of CBRE represented the seller in the deal. Totaling 148,405 square feet, the portfolio includes 50 East 4th Street; 145 East 4th Street; 300 and 325 The Promenade North; and 480 and 590 Pine Avenue. At the time of sale, the asset was 78 percent leased. Current tenants include include Ross Dress for Less, Studio One Eleven/RDC, Ammatoli, Pacific Dental, Panda Express, Wingstop, GNC, GameStop, U.S. Army, U.S. Armed Forces and City of Long Beach, among others. The properties were constructed between 2002 and 2004.

July 23, 2026

Data Centers Development Georgia Industrial Southeast Top Stories

OpenAI Plans $20B Data Center Development Near Savannah, Georgia

by Hayden Spiess July 23, 2026

EFFINGHAM COUNTY, GA. — OpenAI, an artificial intelligence (AI) research and deployment company best known for ChatGPT, has announced plans for a new data center campus in Effingham County, approximately 30 miles northwest of Savannah. Dubbed Project Camellia, the data center campus will cost at least $20 billion to develop in order for OpenAI to receive incentives, according to multiple news outlets. Bloomberg reports that the San Francisco-based company plans to spend as much as $30 billion on the project. The site is located within Savannah Gateway Industrial Hub (SGIH), a master-planned industrial park by Broe Real Estate Group and OmniTRAX spanning 2,700 acres. SGIH is served by both CSX and Norfolk Southern rail lines. OpenAI has entered into a 25-year agreement with utilities provider Georgia Power Co., which will supply 3.2 gigawatts of power to the project. According to the two companies, OpenAI will pay all infrastructure and electric-service costs for the data center campus. Additionally, OpenAI has pledged to provide $80 million in community benefits over the life of the project, as well as $71 million in Codex credits for eligible Georgia students. (Codex is OpenAI’s agentic coding tool that assists in building software and technical projects.) OpenAI also reports …

July 23, 2026

Features Multifamily

The Middle-Income Housing Gap Is Hiding in Plain Sight: Buildings We’ve Already Built

by Taylor Williams July 23, 2026

By Danny Fishman, CEO, co-founder, GAIA Real Estate The country’s broader middle class is facing a housing crisis: a growing gap in available, high-quality rental options. High-demand markets like Miami and New York City are now appearing in headlines on two lists at once. Miami is called out as oversupplied but is also pointed to as one of the least affordable rental markets in the country. New York City has a supply shortage with population decreasing in recent years, and still rents go up. The new supply of rental units flooding Sun Belt markets are mostly in Class A buildings with full amenities. Therefore, less quality options are available to middle-income renters. Much of the industry is shying away from this gap, but it’s crucial that developers, cities and states start pushing toward it. Major institutional investors have historically chased luxury or affordable housing at the extremes, partially due to the real estate market’s — both private and public sectors — failure to foresee the widening income gap. As the economy split, households got pushed toward the higher and lower ends, while the middle thinned out. At the same time, renters and buyers were looking for apartments with nice …

July 23, 2026

Development Mixed-Use Texas

JLL Arranges Construction Debt, Joint Venture Equity for Dallas Mixed-Use Project

by Taylor Williams July 22, 2026

DALLAS — JLL has arranged undisclosed amounts of construction debt and joint venture equity for 8300 Douglas, a mixed-use project that will be located in the Preston Center submarket of Dallas. Designed by HKS Architects, 8300 Douglas will consist of a 12-story, 300,000-square-foot office building that will be the future regional headquarters of Fifth Third Bank; a 17-story, 147-unit apartment building; 24,000 square feet of retail and restaurant space; and a 35,000-square-foot rooftop park. RAMROCK Real Estate is leading development of 8300 Douglas in partnership with Lincoln Property Co. and Willow Bridge Property Co. Mark Gibson, Jim Curtin, John Rose, Clint Coe, Ryan Pollack and Campbell Swango of JLL structured both components of the capitalization.

July 22, 2026

Development Industrial Texas

Urban Logistics Realty to Develop Two Industrial Projects Totaling 341,000 SF in North Houston

by Taylor Williams July 22, 2026

HOUSTON — Urban Logistics Realty will develop two industrial projects totaling 341,000 square feet in North Houston. Urban NXS Fallbrook will be a 182,400-square-foot, cross-dock industrial building, and Urban NXS West will be a 158,600-square-foot, front-load building. Urban Logistics Realty is developing both projects in a joint venture with Principal Asset Management. First United Bank & Trust is financing construction, which is slated to begin before the end of the summer and to be complete in the second quarter of 2027.

July 22, 2026

Acquisitions Industrial Texas

Realterm Buys 40-Acre Industrial Outdoor Storage Facility in Laredo, Texas

by Taylor Williams July 22, 2026

LAREDO, TEXAS — Realterm, a global investment manager focused on transit-oriented properties, has purchased a 40-acre industrial outdoor storage (IOS) facility in the South Texas city of Laredo. The facility at 14610 Mines Road features 25.3 concrete-paved acres that house a 22,250-square-foot check-in station, a 6,800-square-foot office and a 3,000-square-foot wash bay. This portion of the facility was leased to transit firm Heartland Express at the time of sale. The seller and sales price were not disclosed.

July 22, 2026

Development Healthcare Texas

Hoar Construction Breaks Ground on 32,000 SF Medical Office Building in East Austin

by Taylor Williams July 22, 2026

AUSTIN, TEXAS — Alabama-based general contractor Hoar Construction has broken ground on Colony Park Health & Wellness Center, a 32,000-square-foot medical office building in East Austin. Designed by HKS Architects, the four-story building will house the utilities and mechanical equipment on the first floor, a pharmacy, lab and kitchen on the second floor, patient care rooms on the third floor and a dental office on the fourth floor. Central Health is the owner. Construction is slated for a summer 2027 completion.

July 22, 2026

Acquisitions Northeast Retail Rhode Island

Partnership Agrees to Acquire Providence Place Mall in Rhode Island for $133M

by Taylor Williams July 22, 2026

PROVIDENCE, R.I. — A partnership between Syracuse-based Pyramid Management Group, Paolino Properties and DW Partners has agreed to acquire Providence Place Mall, a 1.4 million-square-foot lifestyle center, for $133 million. The 13.2-acre property has been in court-ordered receivership for multiple years following a loan default by the previous owner, Brookfield Properties. Tenants at Providence Place include Dave & Buster’s, Abercrombie & Fitch, American Eagle, Aldo, Apple, Bath & Body Works, Brooks Brothers, Champs Sports, Cyclebar, DSW, Five Below and Garage. The new ownership plans to completes an ongoing repositioning program at the property.

July 22, 2026

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