PEORIA, ARIZ. — Garrett Development Corp. (GDC), with Willmeng Construction as general contractor, has broken ground on a 110,136-square-foot self-storage facility at 24027 N. Lake Pleasant Parkway in Peoria. Designed by RKAA Architects, the facility will feature 1,129 square feet of office space, 53,939 square feet of storage on the first floor and 55,068 square feet of storage on the basement level. Construction is slated for completion in June 2026, with the facility scheduled to open by third-quarter 2026.
PARK CITY, UTAH — El Segundo, Calif.-based Calmwater Capital has provided a $22.8 million bridge loan to refinance Kimball on Main Street, a 25,429-square-foot retail center located within the Historic Old Town area of downtown Park City. Stanton Road Capital was the borrower, while DaJuan Bennett of Calmwater internally represented the firm. Originally built in 1990 and renovated in 2018, the property features seven storefronts, a second-floor event space that serves the Sundance Film Festival and a recently constructed three-story building. Kimball on Main Street is currently 83 percent leased and comprises a mix of tenants such as Arhaus, Free People, Sunglass Hut, Romy Park City, We Norwegians and The Collective. Stanton Road Capital acquired the property in 2022.
DALLAS — New York-based Fortis Property Group has begun the multimillion-dollar renovation of a 55-story office building in downtown Dallas. Dallas Arts Tower, formerly known as Chase Tower, is located at 2200 Ross Ave. and spans 1.2 million square feet. Renovations will include a transformation of the main lobby and second-floor mezzanine lounge area with new flooring, lighting and furniture, as well as upgraded elevators. A new, all-day café with outdoor seating will be added in the northwest corner of the lobby, and the project team will also introduce a new LED lighting system and valet parking services. Fortis has tapped Stream Realty Partners to lease the property.
EL PASO, TEXAS — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 139-room Hampton Inn & Suites El Paso-Airport. The four-story building is located about 1.5 miles from El Paso International Airport and offers amenities such as a fitness center, business center and an outdoor pool. The buyer was Dallas-based Nexgen Management, and the seller was an undisclosed institutional investment firm. Kami Burnette and Mason McDavid of Hunter Hotel Advisors brokered the deal.
ARLINGTON, TEXAS — Lee & Associates has brokered the sale of an 88,821-square-foot industrial building in Arlington. According to LoopNet Inc., the building at 840 N. Great Southwest Parkway was completed in 1962 and features 21.5-foot clear heights and eight dock-high loading doors. Corbin Blount of Lee & Associates represented the buyer, Philadelphia Hardware Group, in the transaction. Harrison Putt and Corby Hodgekiss of Mercer Co. represented the seller, locally based investment firm CanTex Capital.
RHOME, TEXAS — Bronto Skylift, a Finnish company that provides truck-mounted hydraulic platforms, has signed a 31,500-square-foot industrial lease in Rhome, located northwest of Fort Worth. According to LoopNet Inc., the building at 167 Lion Court sits on an 8.8-acre site and was completed earlier this year. Mark Boone of LanCarte Commercial represented the undisclosed landlord in the lease negotiations. Devin Kopas of ETHOS Commercial Advisors represented the tenant, which is relocating from Orlando.
HOUSTON — Stream Realty Partners has negotiated a 23,130-square-foot industrial lease expansion at 525 Julie Rivers Drive in southwest Houston. According to LoopNet Inc., the 45,516-square-foot building was completed in 1983. Will Mason and Tyler Maner of Stream Realty Partners represented the tenant, Marquis Distributors, in the lease negotiations. Boone Smith, Garret Geaccone and Natalie Gilbert, also with Stream, represented the landlord, Oxford Properties.
ATHENS, GA. — CCI Real Estate has obtained $67 million in construction financing for the redevelopment of the Baptist Collegiate Ministries (BCM) building at the University of Georgia (UGA) in Athens. Affinius Capital provided financing for the mixed-use redevelopment project. New South Construction will serve as the general contractor on the project, which is slated for completion by June 2027. Dubbed 290 Lumpkin, the eight-story development will serve as the new location for UGA BCM and will offer 240 residential units that will feature one- and two-bedroom apartments. Amenities will include a 356-space parking deck, rooftop deck, student lounge, offices and new ministry spaces that can accommodate more than 500 people. Additionally, the ground floor will include retail space, a coffeehouse and a fitness center. Originally housed at 450 S. Lumpkin St., BCM has been active on UGA’s campus since 1961. CCI is also redeveloping the BCMs at the Georgia Institute of Technology in Atlanta, as well as Georgia Southern University in Statesboro, Ga.
WILDWOOD, FLA. — JLL Capital Markets has arranged a $26 million construction take-out bridge loan for Magnolia at Powell, a newly constructed, 132-unit build-to-rent residential community in Wildwood, roughly 50 miles outside Orlando. Max La Cava, Melissa Quinn, Bob Rothaug and Jade Starkey of JLL’s Debt Advisory team arranged the three-year, floating-rate loan on behalf of the borrower, Agador Spartacus Development, through a domestic investment management firm and its international mezzanine debt partner. Completed in January 2025, Magnolia at Powell is situated just outside of The Villages and is currently 40 percent occupied. The complex, which is an age-inclusive housing option, offers one-, two- and three-bedroom townhomes averaging 1,162 square feet in size. Amenities include a resort-style swimming pool, fitness center, pickleball court and a dog park. Monthly rental rates for a one-bedroom townhome at Magnolia at Powell begin at $1,350, according to Apartments.com.
ATLANTA — Lightstone Capital has provided an $8.5 million loan for the acquisition and lease-up of a 207,000-square-foot light manufacturing building located at 3200 Lakewood Ave. SW in Atlanta. Green Dock Partners was the borrower. Situated near Hartsfield-Jackson Atlanta International Airport on a 7.2-acre site, the single-story facility features 29-foot clear heights and multiple dock-high doors.