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Port Authorities Advance the Southeast’s Industrial Sector With Infrastructural Investments

John Nelson — Fri, 06 Feb 2026 12:39:00 +0000

In 2022, the Port of New Orleans (Port NOLA) announced the Louisiana International Terminal (LIT), a new $1.8 billion container terminal coming to Violet, a small city about 10 miles downriver (or south) from New Orleans in St. Bernard Parish. The project is a public-private partnership between Port NOLA and two private maritime industry leaders, Ports America and Terminal Investment Ltd., and is being funded with private capital and public funding from the State of Louisiana and federal sources. The U.S. Army Corps. of Engineers is managing LIT’s environmental review and permitting process, after which the public-private partnership will begin construction. Set for completion in 2028, the ambitious project is expected to generate 18,000 new jobs by 2050 and handle 2 million TEUs (twenty-foot equivalent units) of cargo traffic annually. “I consider it the most important project in the entire region,” says Andrew Marcus, founder of local commercial real estate services firm Agile Coast. “From an economic development perspective and from a quality-of-life perspective, it is the single-most important project for our region, period. The LIT is going to be the beachhead for getting modernized containerized cargo ships to come in, and we have the ability to have several terminals…

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City of Fort Worth Unveils Plans for $606M Phase II of Convention Center

Hayden Spiess — Thu, 05 Feb 2026 12:23:00 +0000

FORT WORTH, TEXAS — The City of Fort Worth has announced plans for Phase II of the Fort Worth Convention Center overhaul. Totaling $606 million in costs, the project will deliver a new, flexible convention center. The convention building will replace an arena dated back to 1968 and modernize an existing building that has not been significantly renovated since a 2003 expansion. In December of last year, the city cut the ribbon on the $95 million Phase I of the Fort Worth Convention Center. Plans for Phase II were presented to the city council on Tuesday, Feb. 3. Upon completion, Phase II will comprise a four-story structure with a central tower, a plaza with native prairie green space connected to General Worth Square and terraces for outdoor events. The facility will total 257,268 square feet of exhibit hall space; 60,917 square feet of meeting room space; and 74,033 square feet of ballroom space, as well as 16 loading docks. Construction will begin in early 2027, with the demolition of the existing arena. Completion of the project is scheduled for early 2030. The center will remain operational during construction. Atlanta-based firm TVS, in collaboration with Fort Worth-based Bennett Partners, designed the…

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Eli Lilly to Open $3.5B Manufacturing Facility in Pennsylvania’s Lehigh Valley

Taylor Williams — Mon, 02 Feb 2026 12:52:00 +0000

UPPER MACUNGIE, PA. — Pharmaceutical giant Eli Lilly & Co. (NYSE: LLY) will open a $3.5 billion manufacturing facility in the Lehigh Valley community of Upper Macungie. The development will span about 925,000 square feet across multiple buildings and is expected to bring about 850 new jobs to the region. A construction timeline was not announced. Lilly is acquiring the property at 9802 Main St. in Upper Macungie from Jaindl Land Development for the project. According to local news outlet WFMZ, this property is known as Fogelsville Corporate Center and is undeveloped agricultural land. In addition to the 850 permanent jobs, development of the new facility is expected to create about 2,000 construction jobs. According to Pennsylvania Gov. Josh Shapiro, the state committed more than $100 million in incentives to land the project, including $50 million in tax credits. Lehigh Carbon Community College will receive additional state funding and feed Lilly’s talent pipeline by creating and expanding academic and workforce training programs in life sciences. “Lilly’s commitment to the Lehigh Valley and to Pennsylvania will bring billions of dollars of investment and hundreds of good-paying jobs, solidifying our position as a leader in the growing life sciences industry,” Shapiro said…

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Kansas City Leads By Example: How to Balance Growth and Heritage in Legacy Neighborhoods

Kristin Harlow — Thu, 29 Jan 2026 13:30:00 +0000

By Graham Smith, Multistudio A national shift is underway, and it starts with how cities listen. Across the country, communities and development teams are rethinking how reinvestment happens in legacy neighborhoods shaped by deep cultural identity but burdened by decades of underinvestment. These districts often hold irreplaceable history, yet for years they were sidelined by capital markets that prioritized scale, speed and uniformity over context and continuity. Historically, redevelopment in these areas followed a familiar pattern: projects designed first and explained later. Too often, that sequence displaced cultural institutions, local businesses and social networks that gave neighborhoods their meaning. Today, rising expectations around equitable development and renewed interest in urban cores are forcing a different calculus. Community engagement is no longer a step at the end of a project. It is a strategic input that shapes outcomes, reduces risk and strengthens long-term value. Intentional reinvestment Kansas City offers a timely example of how intentional process can align with market opportunity. After years of downtown population growth, expanded transit infrastructure and rising global visibility ahead of the 2026 FIFA World Cup, long deferred reinvestment became feasible. Local leaders recognized that this momentum created an opportunity to reinvest in the historic 18th…

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Q&A: PwC Executive and ‘Emerging Trends’ Chair Details the Foggy Road Ahead for Commercial Real Estate

Taylor Williams — Thu, 22 Jan 2026 12:50:00 +0000

Interview by John Nelson What a difference a year can make. At this time last year, real estate professionals displayed a sense of confidence and optimism about their 2025 prospects. This year, tariffs, government shutdowns and stubborn inflation have led to a general sense of unease for the year ahead. So finds Emerging Trends in Real Estate 2026, the latest installment of the annual outlook for the commercial real estate industry that PwC and the Urban Land Institute (ULI) jointly publish. The organizations surveyed more than 1,700 stakeholders — including brokers, developers, investors and lenders — in this year’s report, which was adequately themed “Navigating the Fog.” REBusinessOnline recently caught up with Andrew Alperstein, real estate partner at PwC and editorial chair of the Emerging Trends report, to discuss creating the report, the resurgence of the Northeast and the health of several sectors, including seniors housing, self-storage and office. What follows is an edited interview: REBusinessOnline: Were there any surprises in the data or interview process as PwC and Urban Land Institute created ‘2026 Emerging Trends in Real Estate’? Andrew Alperstein: I’m involved in a lot of the interviews that we do, and I see the survey results and work with a…

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Richmond’s Industrial Market Is an Institutional Capital Darling

John Nelson — Thu, 04 Dec 2025 19:11:52 +0000

The Richmond industrial market has been undergoing a dramatic transformation that reads like a case study in strategic positioning and timing. Over the past decade, this “regional market” has become a U.S. powerhouse, boasting all the ingredients to attract, maintain and organically grow supply-chain focused global occupiers and institutional capital investment. Richmond’s strategic advantages include its prime location on I-95 — equidistant to both metropolitan D.C. and the Port of Virginia — attractive labor demographics, disciplined development and strong demand from Fortune 100 occupiers. Additionally, the surging data center hyperscalers and their suppliers have further catalyzed growth in the market. The result? Richmond now features one of the lowest U.S. vacancy rates, sustained year-over-year rent growth, a feeding frenzy of institutional capital routinely producing 10 to 15 bids and lender quotes per property that have fundamentally reshaped who owns, develops and finances industrial real estate in the market. From regional player to national stage Over the past decade, Richmond experienced a 68 percent increase in institutional investors and lenders, growing from 47 participants in 2015 to nearly 80 unique institutions that have invested in and loaned on Richmond industrial assets, with 50 cents of every dollar invested in Richmond coming from…

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Saronic to Invest $300M to Expand Shipyard in Franklin, Louisiana

John Nelson — Thu, 04 Dec 2025 15:33:14 +0000

FRANKLIN, LA. — Saronic Technologies, an Austin-based manufacturer for the defense and space industries, has announced plans to invest $300 million to expand its existing shipyard in Franklin, a city in southern Louisiana’s St. Mary Parish. The shipyard first became operational in April. The new investment will allow Saronic to meet client demand for its fleet of autonomous ships, or Autonomous Surface Vessels (ASVs). The company broke ground last month on the expansion, which will add 300,000 square feet of manufacturing space to its site near the Atchafalaya River, which feeds into the Gulf of Mexico. The project will comprise three new slips, expand its existing warehouse and establish a production line for assembly of its ASVs, namely Marauder, the company’s 180-foot autonomous ship. Saronic worked with Louisiana Economic Development, St. Mary Parish and other government offices on the expansion, which will add 1,500 skilled jobs to the Gulf Coast region. Private partners on the design-build team include JacobsWyper Architects, P2S, KPFF, JE Dunn and Alberici. The project is slated for completion by the end of 2026, with expanded operations coming on-line in early 2027. Saronic is also planning its next-generation Port Alpha shipyard, details of which were not released.

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Kansas Children’s Discovery Center Opens $11.6M Addition in Topeka

Kristin Harlow — Mon, 17 Nov 2025 14:29:53 +0000

TOPEKA, KAN. — The Kansas Children’s Discovery Center, Topeka’s nonprofit children’s museum, has opened an $11.6 million expansion project that more than doubled the size of the facility from 15,000 to over 30,000 square feet. The expansion includes three large gallery spaces, three learning lab classrooms, a makerspace, café, exhibit construction workshop and other spaces. The Sunflower Gallery is anchored by an indoor climbing structure, the tallest climbable sunflower in the world at two stories tall, according to a release. Surrounding the climber, visitors will find educational exhibits celebrating Kansas symbols. The gallery also features murals by local artist Sarah O’Keefe, Queren King Orozco and children from Shawnee Heights Elementary School. The Hall of Bright Ideas celebrates creative Kansans, including historical inventors and Kansas children. The gallery includes an art installation, hand-cranked generator, illumination station and children’s stage. A 3,000-square-foot traveling exhibit gallery enables the museum to host any traveling exhibit from around the country. The first traveling exhibit is inspired by the art of children’s book author and illustrator Eric Carle. Three new learning lab classrooms create space for STEAM-based childcare for school-age children. STEAM refers to science, technology, engineering, arts and math. These indoor-outdoor learning spaces connect a…

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Kroger Opens 128,000 SF Store at Bonds Ranch Marketplace in Northwest Fort Worth

Taylor Williams — Wed, 12 Nov 2025 14:49:25 +0000

FORT WORTH, TEXAS — Kroger has opened a 128,000-square-foot store as the anchor tenant at Bonds Ranch Marketplace in northwest Fort Worth. The center also features 45,000 square feet of small-shop and freestanding retail space that is home to tenants such as Starbucks, Chase Bank, Whataburger, Hollywood Feed, ATI Physical Therapy, Emerald Custom Pools, Park Village Nails, Texas Health Breeze and Heartland Dental. Weitzman is the developer and operator of Bonds Ranch Marketplace.

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The Commercial Property Tax Rebellion

Taylor Williams — Thu, 06 Nov 2025 12:45:00 +0000

By Greg Hart, partner, Gray Winston & Hart PLLC The property tax system in the United States, which traces its roots to colonial America, has long been the life blood of local government finance. Used to fund schools, infrastructure and vital municipal services, it is also a system fraught with controversy and mounting calls for reform. Over the past decade, as assessments rose and local governments grappled with budgetary needs, a perfect storm has slowly but steadily been brewing. Rising home values, stagnant wages and shifting demographics have combined to disproportionately increase property tax bills for many families and small businesses. In many large metropolitan areas, annual increases have outpaced inflation. For commercial property owners, whose collective burden grows as communities cap valuations or otherwise shield segments of the residential tax base, many assessments still reflect bygone notions of revenue potential from properties that now struggle with obsolescence. As a result, the property tax burden on commercial and residential property owners alike continues to grow. Advocacy groups often decry examples of individuals forced to sell their homes due to unaffordable taxes and are calling for meaningful property tax reform. Taxation is a delicate balancing act, however. Each state is tasked…

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Turning Square Footage Into Smart Footage: How AI Is Reshaping Logistics, Industrial Property Management

Taylor Williams — Thu, 09 Oct 2025 11:36:00 +0000

By David Weissman, managing director, Greek Real Estate Partners The industrial logistics landscape is undergoing a dramatic transformation as property owners and tenants invest in artificial intelligence (AI) tools to make each square foot more innovative, more resilient and more responsive. In doing so, these landlords and users are setting a new industry standard for efficiency and adaptability. Over the past few years, the industry has transitioned from pilots and proofs-of-concept to measurable returns, particularly in property management and facility operations. Companies that are using AI to redesign logistics flows have seen an approximately 15 percent boost in operational efficiency and a nearly 10 percent reduction in total logistics costs, benefits that compound significantly across large-scale portfolios. That’s according to 2025 data from AI In The Chain, a platform that tracks progress and ramifications of the technology’s integration in to supply chain operations. At the same time, data from Worldmetrics shows that warehouse operators who are implementing AI solutions have seen reductions in order-picking errors of up to 50 percent. In addition, AI solutions have reduced inventory processing time by approximately 40 percent, per Worldmetrics. Not surprisingly, tenants are seeking smarter buildings. CBRE’s U.S. Real Estate Market Outlook 2025 reveals…

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Atlanta Beltline Issues RFP for Mixed-Use Development on Southside Trail

John Nelson — Mon, 29 Sep 2025 14:17:46 +0000

ATLANTA — Atlanta Beltline has issued a request for proposals (RFP) for new mixed-use development on a site along the Beltline’s Southside Trail. The 13.7-acre site is located at 356 University Ave. near the city’s historic Pittsburgh neighborhood that the Beltline purchased in 2023. Atlanta Beltline met with more than two dozen community groups since April 2024 to discuss future plans for the site. Based on the community feedback and the Beltline’s newly completed master plan, the RFP is seeking a mix of market-rate and affordable housing, as well as a mix of commercial and industrial uses. More specifically, the RFP calls for at least 30 percent of residential units reserved as permanently affordable (10 percent at or below 80 percent AMI, 20 percent at or below 50 percent AMI); a minimum of 30 percent of total floor area dedicated to light-industrial use; affordable commercial space (at least 20 percent at rents 30 percent below market for more than 10 years); a partnership with an arts, cultural or community organization for onsite programming; and accessible green spaces, ADA pathways and Beltline connectivity. To date, the Beltline has acquired nearly 90 acres preserved for residential and commercial affordability for both residents…

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PulteGroup CEO Emphasizes Importance of Innovation in Active Adult Sector at NIC Conference

Hayden Spiess — Thu, 18 Sep 2025 13:14:00 +0000

AUSTIN, TEXAS — The Del Webb active adult brand, long associated with Sun Belt markets, is gaining traction in the Midwest, says Ryan Marshall, president and CEO of Atlanta-based PulteGroup Inc. (NYSE: PHM), parent company of Del Webb. But unlike Sun City, Arizona — the pioneering planned retirement community developed by Del Webb starting in 1960 — today’s developments are much smaller in scale. Del Webb Hickory Greens, located about 25 miles southwest of Cleveland in Columbia Township, Ohio, officially opened in March of this year. The 622-home community is spread across 325 acres, where residents age 55 and older can enjoy a variety of resort-style amenities designed to foster an active and social lifestyle. The centerpiece of the community is a 14,000-square-foot amenity center featuring indoor and outdoor pools, outdoor pickleball courts and a fitness center. Del Webb Hickory Greens also offers year-round social events, walking trails, over 170 acres of green space, a dog park and a community garden. “It’s one of our best-selling active adult Del Webb communities year to date,” says Marshall, noting that the Cleveland market is not traditionally known as a hotspot for retirees. “We’ve probably sold 110 homes [at Del Webb Hickory Greens] since February, which is…

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Why Texas Remains a Prime Market for Retail Redevelopment

Taylor Williams — Tue, 16 Sep 2025 12:04:00 +0000

By Kenneth Katz, principal at Baker Katz Growth and innovation opportunities remain strong in Texas, despite ongoing changes in the retail sector. True potential often emerges not just from redeveloping individual buildings, but also from reimagining the future of entire communities. Identifying underutilized retail assets where others see stagnation — and meticulously transforming them into vibrant, value-generating destinations — is key to successful retail redevelopment projects. At its core, redevelopment is a response to change. When commercial properties are first built, they are typically developed to meet a market’s needs in terms of an appropriate tenant mix, functional layouts, attractive aesthetics and other key attributes. Over time, however, as communities evolve, populations shift, infrastructure expands and tenant preferences and tastes change, previously optimized projects can gradually underperform. These shifts create opportunities for thoughtful redevelopment. Identifying Strong Candidates Properties that no longer meet the desires or needs of a community are often the strongest candidates for redevelopment. These can include projects with outdated configurations, limited accessibility due to changes in roadways or high vacancy rates from tenant relocations or bankruptcies. Other high-potential properties may suffer from deferred maintenance that has reduced occupancy and rents or from aesthetic obsolescence that discourages both…

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InterFace Panel: Seniors Housing Design Blends Hospitality, Technology for Next Generation of Residents

Abby Cox — Tue, 09 Sep 2025 12:00:00 +0000

ATLANTA — As the demand for “age appropriate” living solutions continues to rise, seniors housing real estate is evolving rapidly. Modern developments are moving beyond the scope of previous institutional models that are stuck in the past and accelerating forward into physical environments that promote dignity, independence and community for the next generation of residents. The new wave of seniors housing residents are individuals who often have different expectations, lifestyles and needs compared to previous generations when it comes to their housing options. Whether it is a tech-savvy grandmother or a health-conscious grandfather, each generation of seniors finds aspects of life that they value more than their predecessors. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Health and wellness is an especially important component of seniors housing developments coming on line, as today’s older adults are living longer, staying more active and placing significance on quality of life. Connie Wittich, founding principal and CEO of Metropolitan Studio, highlighted that people want to live in beautiful places that focus on mental health and wellness, specifically. “We receive a lot of…

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Life Sciences: The Next Frontier for Commercial Real Estate in Texas?

Taylor Williams — Tue, 09 Sep 2025 11:50:00 +0000

By Taylor Williams Everybody always remembers the one who got away, but what if they’d never shown up to the party in the first place? Or in the case of the Texas commercial development boom, is it possible that one specific asset class simply never took root, or is it more likely that it just hasn’t happened yet? The mystery party guest/asset class could only be life sciences — a sector that is somehow a quasi-subcategory of healthcare real estate, a longshot end use for an industrial conversion, a property type that represents the evolution of commercial-grade lab space and an investment vehicle that has captured billions of capital in coastal markets — all rolled into two basic words. And while the big-money question surrounding life sciences growth in Texas is not “what?” but “when?,” examining what the field actually already encompasses in the state is important to understanding the potential for a future boom. After all, it’s not as life sciences is nonexistent in Texas. According to a 2025 report from JLL titled, “Why Texas Life Sciences?” there are already some 8,700 life sciences companies employing more than 150,000 people in the state. More than $1.5 billion in combined…

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The Art of Alignment: How to Balance Stakeholder Interests in Multifamily Property Management

Kristin Harlow — Tue, 05 Aug 2025 12:30:00 +0000

By Diane Batayeh, Village Green To be successful at multifamily property management involves equal parts of communication, alignment and trust. There are several stakeholder groups to consider when making decisions about how best to operate and set up an apartment community for long-term success. Between residents, employees and owners, there are differing and sometimes conflicting objectives and perspectives to consider. In today’s quickly evolving multifamily landscape, satisfying everyone can be challenging and it requires a delicate balance to maintain all stakeholders’ satisfaction while also achieving their respective goals. With the right approach, however, multifamily executives can successfully navigate the wants and needs of all parties and effectively sustain their trust and satisfaction while positioning the property to achieve economic success. Fostering connections In multifamily property management, everything matters — from the property’s aesthetic appearance to the friendliness of onsite staff to the property’s digital identity and website navigation experience. These touchpoints are often referenced by both prospects and residents when evaluating their living experience, making it imperative to maintain and uphold a positive impression. To protect a property’s reputation and best serve residents, it’s critical to remain aware of their impressions through regular resident surveys that measure preferences and satisfaction…

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Smart Design, Outdoor Spaces and Sustainability Help Reimagine the Office

Kristin Harlow — Thu, 17 Jul 2025 12:30:00 +0000

By Maria Davis and Colton Rupprecht, R&R Real Estate Advisors In the real estate industry, customer expectations around office space have undergone a significant shift — both in what they need and what they want. It’s not just about square footage anymore; it’s about how that space functions, feels and aligns with the values of the companies who occupy it. This transformation is playing out in three critical areas: the rise of small, amenity-packed spaces; a surge in outdoor-focused design that brings the comforts of home into the workplace; and a more rooted and interactive approach to sustainability. Smarter spaces As more companies return to in-office work, many are rethinking how they use space — prioritizing flight to quality. Increasingly, customers are gravitating toward compact offices that offer high-impact amenities rather than expansive square footage. These smaller footprints are more efficient, but they also demand more thoughtful design and planning. Technology is key in amenity designing, as efficient developers are integrating infrastructure that anticipates the needs of a tech-forward workforce. Whether it’s bracketing out spaces for high-speed fiber and built-in video conferencing hubs or artificial intelligence (AI)-powered building systems that manage lighting, the design is important in making a more…

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How AI Helps Streamline Apartment Operations

Kristin Harlow — Thu, 03 Jul 2025 12:30:00 +0000

Necessity has sparked innovation across the multifamily sector. Property managers are implementing new technology platforms to streamline leasing, maintenance and resident communications because of rising operating costs, says Jim Cunningham, president of Naperville, Illinois-based Marquette Management, which owns or manages nearly 16,000 units across eight states. Operating costs increased 7 percent last year, according to CBRE. Rising insurance costs are one of the primary drivers. Property managers are also embracing technology to enhance resident satisfaction. Wendy Deetjen, vice president of Habitat’s market-rate portfolio, says that today’s renters expect more convenience, personalization and instant communication than in the past. Chicago-based Habitat manages more than 13,000 units across Illinois, Michigan and Minnesota. “Reputation management and resident engagement remain critical, and while staffing challenges persist industrywide, automation helps our teams focus on what matters most — delivering excellent service and building stronger communities,” says Deetjen. The automation and problem-solving capabilities that come with artificial intelligence (AI) free up property managers to devote more time to other tasks. This advancement is especially beneficial at a time when the labor supply is low. Cunningham says that labor in multifamily management remains tight but is improving. The industry faced a 4.1 percent turnover rate in 2024,…

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Mia Rose Holdings to Build $60M Luxury Apartment Development in Valley Park, Missouri

Kristin Harlow — Wed, 02 Jul 2025 13:56:26 +0000

VALLEY PARK, MO. — Mia Rose Holdings LLC will build 44 East, a $60 million luxury apartment development in the western St. Louis suburb of Valley Park. The project is situated on the site of the former Wet Willy’s, a hotspot from the 1980s and 1990s. Mia Rose closed on the land acquisition from Mercy Hospital in June. The community will feature 216 apartment units. As the sister project to 44 West Luxury Living, the development reflects community feedback by offering a greater mix of two- and three-bedroom units alongside one-bedroom options. Residents will enjoy coworking lounges and resort-style amenities. The project team includes equity partner Argos Capital Partner; debt partners Commerce Bank and First Bank; design partners Rosemann & Associates, Engenuity, The Sterling Co. and SCI Engineering; and building partners Karrenbrock Construction for sitework and Midas Building Group for vertical construction.

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