Property Type

Zenith IOS Completes 40,000 SF Cold Storage Build-to-Suit for Kemps in Minneapolis

by Kristin Harlow September 18, 2025

MINNEAPOLIS — Zenith Industrial Outdoor Storage (IOS) has completed a cold storage build-to-suit for Kemps, a farmer-owned brand of Dairy Farmers of America. Kemps signed a 15-year lease for the property in Minneapolis. Zenith acquired the 11-acre site, formerly home to a heavy industrial metal recycling business, in June 2022. In conjunction with Bainey & Co. as general contractor, Zenith converted the property into a 40,000-square-foot cold storage and dairy distribution hub. Kemps traces its Minneapolis roots back to 1914, when William Kemps and Walter Lathrop founded the Lathrop-Kemps Ice Cream Co. at 222 Fifth St. Now based in St. Paul, Kemps maintains approximately 1,000 employees and is a producer of milk and other dairy products. The company currently operates seven manufacturing facilities in Minnesota, Wisconsin, Iowa, Illinois and Indiana. The new cold storage distribution site will also support the company’s bottling facility, located roughly one mile away. CBRE is currently marketing the southern parcel of the site for sale. It includes a 22,000-square-foot warehouse on the remaining 3 acres of land.

September 18, 2025

Market Reports Midwest Midwest Market Reports Multifamily

How to Design for Multifamily Growth in the Midwest

by Kristin Harlow September 18, 2025

By Yanitza Brongers-Marrero, Moody Nolan Rent growth in cities across the Midwest is booming, encouraging developers and municipalities alike to ramp up investment in the region. As interest shifts away from coastal markets that became overbuilt during the pandemic, the Midwest’s stability and growth potential are coming into sharper focus. Columbus, Ohio, is leading the charge with adding 30,348 new residents in the past year, a 1.4 percent growth rate that outpaces both the national (1 percent) and Midwest (0.6 percent) averages, according to the latest U.S. Census estimates. Projections suggest the region could gain another million residents by 2050, underscoring its long-term demand for housing. Chicago, meanwhile, remains the Midwest’s economic engine. The metro area ranks third in the U.S. by GDP at $860 billion and saw a 4.6 percent year-over-year rent growth in June, according to CoStar. The city also added 22,164 residents from mid-2023 to mid-2024, marking the seventh-largest population gain in the U.S. Together, these cities, along with Minneapolis, are shaping the next chapter of multifamily investment and housing innovation in the Midwest. What are the major influences you’re seeing fuel the growth in demand for multifamily projects in the Midwest? Being five years out from …

September 18, 2025

Development Life Sciences Top Stories Virginia

Eli Lilly Announces Plans for $5B Pharmaceutical Manufacturing Facility Near Richmond, Virginia

by Hayden Spiess September 18, 2025

GOOCHLAND COUNTY, VA. — Pharmaceutical giant Eli Lilly and Co. (NYSE: LLY) has announced plans for a $5 billion manufacturing facility located in Goochland County, which is situated west of Richmond. Earlier this year, Indianapolis-based Eli Lilly shared plans to build four new pharmaceutical manufacturing plants. The Virginia facility is the first of the four to be formally announced. Since 2020, the company has invested $50 billion in capital expansion commitments. When finished, the development will mark the company’s first dedicated, fully integrated active pharmaceutical ingredient (API) and drug product facility for its bioconjugate platform and monoclonal antibody portfolio, which create ingredients for the treatment of cancer and autoimmune diseases. Completion of the facility is scheduled within the next five years. According to Eli Lilly, the project will create more than 650 permanent jobs in the area, in addition to 1,800 construction jobs. The company projects that for each dollar invested in the development, up to $4 of local economic activity will be generated. Goochland County was selected as the site for the new facility out of hundreds of applications. Plans for the facility include the use of technologies including machine learning, AI and automated systems. To implement these technologies, …

September 18, 2025

Development Multifamily Texas

StreetLights Residential Begins Construction on 635-Unit Multifamily Project at The Mix in Frisco

by Taylor Williams September 17, 2025

FRISCO, TEXAS — Locally based developer StreetLights Residential has begun construction on a 635-unit multifamily project within The Mix, a 112-acre mixed-use development located north of Dallas in Frisco. Designed by Torti Gallas + Partners, the property will offer one-, two- and three-bedroom units that will be furnished with screened balconies, smart locks, thermostats and dimmable lights and wine refrigerators. Amenities will include coworking lounges, pet wash stations, game rooms, gathering spaces, rooftop terraces and resort-style pools. Completion is slated for fall 2027.

September 17, 2025

Industrial Leasing Activity Texas

De Well Container Shipping Signs 248,262 SF Industrial Lease in Baytown, Texas

by Taylor Williams September 17, 2025

BAYTOWN, TEXAS — De Well Container Shipping has signed a 248,262-square-foot industrial lease in the eastern Houston suburb of Baytown. The New York-based logistics company will occupy space at Building 1 at the Baytown 10 development along I-10. Tyler Maner, Jeremy Lumbreras and Jake Linderman of Stream Realty Partners, along with and Andrew Lara with Lara CRE Group, represented the tenant in the lease negotiations. Richard Quarles, Mark Nicholas and Joseph Berwick with JLL represented the landlord, Archway Properties.

September 17, 2025

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 77,500 SF Industrial Lease in Addison, Texas

by Taylor Williams September 17, 2025

ADDISON, TEXAS — Lee & Associates has negotiated a 77,500-square-foot industrial lease in the northern Dallas metro of Addison. According to LoopNet Inc., the building at 4204 Lindbergh Drive was constructed in 1974. John Anderson of Lee & Associates represented the tenant, Charter Furniture, in the lease negotiations. The name and representative of the landlord were not disclosed.

September 17, 2025

Acquisitions Healthcare Texas

Woodside Health, Heitman Acquire 60,000 SF Medical Office Building in Sugar Land, Texas

by Taylor Williams September 17, 2025

SUGAR LAND, TEXAS — Woodside Health, a private equity healthcare real estate firm based in Cleveland, has acquired Sugar Land Physicians Center, a 60,000-square-foot medical office building located southwest of Houston. The three-story building was completed in 2014, according to LoopNet Inc. Woodside purchased the asset in a joint venture with global investment manager Heitman. The seller and sales price were not disclosed.

September 17, 2025

Development Office Texas

Benchmark Houston Builders Breaks Ground on 30,000 SF Office Headquarters Project

by Taylor Williams September 17, 2025

HOUSTON — General contractor Benchmark Houston Builders has broken ground on a 30,000-square-foot office headquarters project within East River, Midway’s 150-acre mixed-use development. The project is a build-to-suit for the U.S. subsidiary of Australian firm Anton Paar USA, which provides laboratory instruments and measuring systems. Powers Brown Architecture is designing the space. Completion is slated for next summer.

September 17, 2025

Development Georgia Industrial Southeast

Rivian Holds Groundbreaking Ceremony for $5B Electric Vehicle Plant Near Social Circle, Georgia

by John Nelson September 17, 2025

SOCIAL CIRCLE, GA. — Electric vehicle manufacturer Rivian held a groundbreaking ceremony for its $5 billion plant near Social Circle, about 44 miles east of Atlanta via I-20. The project will be situated within the 1,600-acre Stanton Springs North master-planned community. Construction is expected to begin in 2026 with customer vehicle production for the midsize, five-seater R2 SUV and R3 crossover anticipated to start in 2028. Rivian plans to develop the plant in two phases, each resulting in 200,000 units of annual capacity. The plant is expected to create 7,500 direct jobs and 8,000 indirect jobs by 2030, as well as 2,000 construction jobs, according to an analysis conducted by IMPLAN. Rivian received financing from the U.S. Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program for the manufacturing facility. The groundbreaking ceremony comes on the heels of Rivian announcing its decision to locate its East Coast headquarters at Junction Krog Street in Atlanta’s Inman Park district.

September 17, 2025

Acquisitions Florida Retail Southeast

JLL Brokers $118.5M Sale of Whole Foods-Anchored Shopping Center in Boca Raton, Florida

by John Nelson September 17, 2025

BOCA RATON, FLA. — JLL Capital Markets has brokered the $118.5 million sale of Uptown Boca, a 194,927-square-foot shopping center located at 9536-9704 Glades Road in Boca Raton. Whole Foods Market anchors the property, which was fully occupied at the time of sale to tenants including Life Time Fitness, REI, HomeSense and Sephora. Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, a joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties and Wheelock Street Capital. The buyer was Stockbridge Capital Group. Uptown Boca also features 456 luxury apartment units that were not included in the transaction.

September 17, 2025

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