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Multifamily Is Needed for All Income Levels in Kansas City

Kristin Harlow — Thu, 05 Feb 2026 13:33:00 +0000

By Doug Stockman, Helix Architecture + Design Straddling two states, Kansas City is one of the country’s most distinctive real estate markets. Since 1992, our firm has designed workplace, cultural, higher education and multifamily projects of all types in the city, with specialized expertise in adaptive reuse. We see multifamily as the most active segment in 2026. Compared with other states, Missouri’s support for new housing projects is about average. Kansas is near the bottom, because the state lacks the revenue to incentivize housing. Inventory on the Kansas side is also less, with most multifamily housing located outside the city. Looking ahead, low-income housing tax credit (LIHTC) incentives will ideally accelerate Kansas City’s biggest market demand — affordable housing. The Kansas City Affordable Housing Set-Aside Ordinance presents some obstacles. To receive city subsidies, multifamily developments must have 12 or more units, 20 percent of which need to be affordable for households earning 60 percent or less of the area median income (AMI). Alternately, developers can pay $100,000 into the city’s Affordable Housing Trust Fund. Further, developers must navigate a complex process of zoning approvals and community engagement meetings that culminates with a city council hearing. If approved, developers on the Missouri…

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Simon to Invest $250M for Redevelopment of Three Malls in Nashville, Denver and Tampa

Kristin Harlow — Wed, 04 Feb 2026 13:00:00 +0000

INDIANAPOLIS — Indianapolis-based mall owner Simon Property Group (NYSE: SPG) has unveiled plans to invest more than $250 million for the redevelopment of The Mall at Green Hills in Nashville, Cherry Creek Shopping Center in Denver and International Plaza in Tampa. Simon acquired the three properties in November 2025 as part of its purchase of the remaining 12 percent interest in The Taubman Realty Group LP that it did not already own. The $250 million investment reflects Simon’s focus on mall redevelopments to create modern environments that cater to today’s shopper, according to Eli Simon, the company’s chief operating officer. He says the redevelopment projects will mimic the recently completed transformation of Southdale Center in Minneapolis. The Mall at Green Hills will undergo a complete transformation and exterior revitalization featuring two-story flagship entrances, jewel-box spaces for luxury boutiques, new landscaping and “elevated arrival moments.” The interior will receive upscale finishes and architectural enhancements. The 1 million-square-foot mall opened in 1955 under the moniker Green Hills Village. Cherry Creek Shopping Center will receive modernized flagship spaces, refined architectural updates and upgraded storefronts. The enclosed mall, which officially opened in 1990, dates back to the 1950s when it was an open-air mall.…

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Brookfield to Acquire Peakstone Realty Trust in $1.2B Transaction

John Nelson — Tue, 03 Feb 2026 13:00:00 +0000

NEW YORK CITY AND EL SEGUNDO, CALIF. — Brookfield Asset Management (NYSE: BAM) has entered into a definitive agreement in which one of the firm’s private real estate funds will acquire the outstanding shares of Peakstone Realty Trust (NYSE: PKST), an industrial REIT that has a strategic focus on the industrial outdoor storage (IOS) sector. The El Segundo-based company, which sold off its final office assets in December, currently owns 76 industrial properties, including 60 IOS assets. At a proposed price of $21 per share, the all-cash transaction represents an implied enterprise value of approximately $1.2 billion. The price represents a 34 percent premium relative to Peakstone’s share price on Jan. 30, the last full trading day prior to the announcement. “This transaction recognizes the value of our industrial portfolio and the progress we have made expanding our IOS platform,” says Michael Escalante, CEO of Peakstone. At the conclusion of the acquisition, Peakstone will be a privately held company and will be delisted from the New York Stock Exchange. Founded in 2009 as Griffin Realty Trust, the company was rebranded as Griffin Capital Essential Asset REIT in January 2023 and then as Peakstone Realty Trust in 2021. For Brookfield, 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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Greystone Provides $97.6M HUD-Insured Loan for Refinancing of Harlem Affordable Housing Complex

Taylor Williams — Fri, 30 Jan 2026 15:00:00 +0000

NEW YORK CITY — Greystone has provided a $97.6 million HUD-insured loan for the refinancing of Villa Hermosa, a 272-unit affordable housing complex in East Harlem. Built in 1910, Village Hermosa offers one-, two- and three-bedroom units that are reserved for households earning 50 percent or less of the area median income. Eric Rosenstock and Jeff Englund of Greystone originated the nonrecourse loan, which carries a 35-year term and a fixed interest rate, through HUD’s 223(f) program. The borrower, Metropolitan Realty Group, will use a portion of the proceeds to fund capital improvements, including upgrades to unit interiors and building utility systems.

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John Deere to Open Two New Industrial Facilities in Indiana, North Carolina

Hayden Spiess — Thu, 29 Jan 2026 11:42:00 +0000

HEBRON, IND. AND KERNERSVILLE, N.C. — Agricultural and construction machinery company John Deere (NYSE: DE) plans to open two new industrial facilities in the United States. The developments include a distribution center near Hebron, Ind., and a manufacturing campus in Kernersville, N.C. John Deere recently broke ground on the 234-acre Indiana facility, which is designed to streamline operations and ensure timely delivery of equipment and parts. John Deere plans to invest $125 million to equip and development the 1.2 million-square-foot project, which is situated just off I-65. According to the company, the project is expected to create roughly 150 jobs in the state. John Deere also operates its primary North American parts distribution center in the Midwest region in Milan, Ill. That facility has been in operation since 1973 and employs roughly 1,200 people. In Kernersville, a new $70 million manufacturing center will produce excavators for the construction market, assuming production activity that was previously conducted in Japan. The campus total approximately 400,000 square feet and will employ more than 150 people. “We are excited to bring this new facility to our Kernersville campus and to be part of the region’s thriving manufacturing community,” said Ryan Campbell, president of worldwide…

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CannonDesign Signs 9,897 SF Office Lease at Greenway Plaza in Houston

Taylor Williams — Wed, 28 Jan 2026 16:21:23 +0000

HOUSTON — CannonDesign has signed a 9,897-square-foot office lease at the 52-acre Greenway Plaza office complex in Houston. The integrated design services firm will occupy space on the fifth floor at 20 Greenway Plaza, a 433,132-square-foot building. Abby Alford of Stream Realty Partners represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Stockdale Capital Partners.

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Makarora, Ares Complete $2.1B Acquisition of Plymouth Industrial REIT

Taylor Williams — Wed, 28 Jan 2026 16:16:47 +0000

NEW YORK CITY AND BOSTON — Affiliates of New York City-based investment firm Makarora Management and global investment firm Ares Management Corp. (NYSE: ARE) have completed the $2.1 billion, all-cash acquisition of Boston-based Plymouth Industrial REIT. Under the terms of the deal, which was announced last fall, Plymouth shareholders will receive $22 for each share of common stock they own, and Plymouth will no longer be traded or listed on any public securities exchange. The transaction also calls for the acquiring entities to assume certain pieces of Plymouth’s outstanding debt. The purchase price represents a premium of approximately 50 percent to Plymouth’s unaffected closing common stock price on August 18, 2025. That date marks the last trading day prior to the filing of a Schedule 13D by affiliates of Sixth Street Partners LLC disclosing a nonbinding proposal to acquire all of the outstanding shares of Plymouth’s common stock.

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Amazon to Close Go and Fresh Physical Stores, Plans to Open 100 Whole Foods Locations

Kristin Harlow — Wed, 28 Jan 2026 13:00:00 +0000

SEATTLE — Amazon (NASDAQ: AMZN) has unveiled plans to close its Amazon Go and Amazon Fresh physical stores, converting various locations into Whole Foods Market stores. The Seattle-based e-commerce giant states that it hasn’t “yet created a truly distinctive customer experience with the right economic model needed for large-scale expansion.” Customers can continue to shop Amazon Fresh online in available areas for delivery. At the same time, Amazon plans to open more than 100 new Whole Foods Market stores over the next few years, citing increased investment in “physical stores that are resonating with customers.” Amazon acquired the Austin-based natural and organic foods grocer in 2017 in a $13.7 billion deal. Since then, the brand has experienced over 40 percent sales growth and expansion to more than 550 locations. There are 14 Amazon Go convenience stores located in Washington, California, Illinois and New York. According to the company, Amazon Go locations served as innovation hubs where Amazon developed Just Walk Out technology — now a scalable checkout-free solution operating in over 360 third-party locations across five countries. There are 58 Amazon Fresh grocery stores located in California, Illinois, New York, New Jersey, Maryland, Pennsylvania, Washington, Viriginia and Tennessee. Amazon says…

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SunStrong Management Signs 18,280 SF Office Lease at Greenway Plaza in Houston

Taylor Williams — Tue, 27 Jan 2026 16:27:06 +0000

HOUSTON — SunStrong Management has signed an 18,280-square-foot office lease at the 52-acre Greenway Plaza office complex in Houston. The solar asset management and service firm will occupy space on the fifth floor at 20 Greenway Plaza, a 433,132-square-foot building. Alvarez & Marsal represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Los Angeles-based Stockdale Capital Partners.

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Bank of America Signs 70,914 SF Office Lease Renewal at Greenway Plaza in Houston

Taylor Williams — Mon, 26 Jan 2026 13:30:00 +0000

HOUSTON — Bank of America has signed a 70,914-square-foot office lease renewal at the 52-acre Greenway Plaza office complex in Houston. The banking giant will continue to occupy portions of the seventh and ninth floors at 20 Greenway Plaza, a 433,132-square-foot building. David Bale and Cody Little of JLL represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Los Angeles-based Stockdale Capital Partners.

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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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Amazon Plans to Open First-of-its-Kind Retail Store in Metro Chicago Totaling 230,000 SF

Kristin Harlow — Wed, 21 Jan 2026 13:00:00 +0000

ORLAND PARK, ILL. — Amazon (NASDAQ: AMZN) has unveiled plans to open a first-of-its-kind retail store in the southern Chicago suburb of Orland Park. The planned brick-and-mortar store will occupy the long-vacant site of the former Petey’s II restaurant at the southwest corner of 159th Street and LaGrange Road. The Orland Park Village Board approved the project at its Jan. 19 meeting. Amazon’s plans call for a one-story building of approximately 230,000 square feet that will offer groceries, household essentials and general merchandise. The store would function similarly to a large-format retailer such as a Walmart Supercenter. The commercial retail store would be open to the public and is not a warehouse or distribution center. Both the Orland Park Plan Commission and the Board of Trustees have reviewed and approved the plan. The village is not providing any financial incentives to Amazon as part of this project. “When a global retailer of this scale considers investment in Orland Park, it sends a strong signal about the vitality of our community and the strategic importance of this corridor,” says Orland Park Mayor Jim Dodge. According to a release, Amazon’s proposed multimillion-dollar investment in Orland Park would generate millions in sales and…

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Sphere Entertainment, Peterson Plan Smaller Sphere Venue in Metro D.C. Totaling 6,000 Seats

John Nelson — Tue, 20 Jan 2026 13:00:00 +0000

OXON HILL, MD. — Sphere Entertainment Co. (NYSE: SPHR), the owner and operator of the Sphere venue in Las Vegas that opened in 2023, is partnering with locally based developer Peterson Cos. for a smaller Sphere venue in National Harbor, a waterfront neighborhood in the Washington, D.C., suburb of Oxon Hill. The planned project represents the second Sphere entertainment venue in the United States and third in the world following the future Sphere’s completion in Abu Dhabi. “Our focus has always been on creating a global network of Spheres across forward-looking cities,” says James Dolan, executive chairman and CEO of Sphere Entertainment. The site for Sphere at National Harbor overlooks the Potomac River and would complement other National Harbor mainstays such as MGM National Harbor, a $1.4 billion casino that opened in 2016, Capital Wheel, Gaylord National Resort and Topgolf. The more than 300-acre National Harbor district welcomes approximately 15 million visitors nationally. At full completion, the Sphere venue will feature the Exosphere, which is the Sphere’s programmable LED exterior display, as well as 6,000 seats for concerts, immersive movie presentations and other events. The new venue’s seating volume represents about a third of the 18,600-seat capacity at the Sphere…

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Kilpatrick Renews 148,000 SF Office Lease at 1100 Peachtree in Midtown Atlanta

Abby Cox — Mon, 12 Jan 2026 14:38:54 +0000

ATLANTA — Kilpatrick Townsend & Stockton LLP has renewed its 148,000-square-foot lease at 1100 Peachtree, a 28-story office tower in Midtown Atlanta. The global law firm has leased space at the property since 1992 and has recommitted to a 15-year term. 1100 Peachtree is currently 76 percent leased. Sam Hollis, John Izard, Ken Ashley and Christian Taylor of Cushman & Wakefield represented the tenant in the lease negotiations. Brooke Dewey and Alexis Vondersaar of JLL serve as the primary leasing agents for 1100 Peachtree on behalf of ownership, Spear Street, which acquired the 584,066-square-foot office tower in May 2025. The owner is underway on a full refresh of the building’s conference and fitness centers. Completion of the renovation is scheduled for this quarter. Along with the renovation, Spear Street will also welcome two new food-and-beverage concepts — Dos Cominos and Paris Baguette — to the tower’s street-level retail component this year.

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JRK Acquires Three-Property Multifamily Portfolio for $400M

Hayden Spiess — Thu, 08 Jan 2026 12:14:00 +0000

LOS ANGELES — Real estate investment firm JRK Property Holdings has announced its acquisition of a portfolio of three multifamily properties for $400 million. The portfolio includes apartment communities located in Seattle; Hoboken, N.J.; and Los Angeles totaling 803 units. The seller was Equity Residential (NYSE: EQR), a Chicago-based multifamily REIT. Centennial in Seattle features 408 units, 77 Park Avenue in Hoboken comprises 301 units, and C on Pico in Los Angeles totals 94 units. According to Trulia.com, C on Pico offers two-bedroom units, with monthly rental rates beginning at $3,325. Monthly rental rates at 77 Park Avenue begin at $3,655, according to Zillow.com. Rachel Parsons, Derrek Ostrzyzek and Kenji Thomas of CBRE represented Equity Residential in the transaction. Ryan Greer, also with CBRE, arranged an undisclosed amount of acquisition financing for the deal on behalf of JRK. “These recent acquisitions exemplify the type of high-quality, well-located assets we continue to target in today’s market,” says Daniel Lippman, president of JRK. “We believe the multifamily sector has reached an inflection point whereby we can acquire assets at a unique time where new supply subsides and long-term fundamentals remain strong. These dynamics create a compelling backdrop that gave us the conviction to…

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Brixton Capital Sells Pacific Town Center Retail Property in Stockton, California for $27M

Amy Works — Wed, 07 Jan 2026 15:56:39 +0000

STOCKTON, CALIF. — Brixton Capital has completed the disposition of Pacific Town Center, a newly remodeled shopping center in Stockton. CJ Park & Associates acquired the property for $27 million. Sean Cox and Kevin Fryman of Hanley Investment Group Real Estate Advisors represented the seller, while the Los Angeles-based buyer was self-represented in the deal. Located at 616-760 W. Hammer Lane, Pacific Town Center offers 142,957 square feet of retail space that was built in 2003 and remodeled in 2025. Situated on 10 acres, the property’s tenant mix consists of 98 percent national and regional retailers, including Smart & Final Extra!, Chuze Fitness, Ross Dress for Less, Aaron’s, CoinWorks, Concentra Health Services, H&R Block, Panda Express, Subway, Total Wireless and Western Dental.

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LaTerra, Respark Agree to Acquire Suburban Chicago Apartment Portfolio from Aimco for $455M

John Nelson — Tue, 16 Dec 2025 12:55:00 +0000

CHICAGO — A partnership between LaTerra Capital Management and Respark Residential has agreed to acquire a portfolio of seven multifamily properties in suburban Chicago totaling 1,495 units. Multifamily owner-operator Aimco (NYSE: AIV) plans to sell the portfolio to the partnership for $455 million. The transaction is expected to close in first-quarter 2026, pending the assumption of the properties’ in-place mortgages. According to Crain’s Chicago Business, the portfolio comprises Evanston Place in Evanston; Hyde Park Tower in Chicago; Elm Creek and Eldridge Townhomes in Elmhurst; Yorktown Apartments and 220 Grace in Lombard; and Willow Bend in Rolling Meadows. Aimco recently concluded its year-long strategic review process and is moving forward with its “plan of sale and liquidation.” The Denver-based firm says that the buyers have completed due diligence and funded in part a $20 million nonrefundable deposit for the acquisition. Aimco says that the net proceeds from the sale will total $160 million. For LaTerra, the Aimco acquisition allows the Marina del Rey, Calif.-based company to increase its holdings in Chicago, which is currently the No. 1 market in the United States for rent growth, according to data from CoStar Group. The market saw 6,700 new units delivered in the past 12…

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Fairstead Announces $242M Acquisition, Rehabilitation of Houston Affordable Housing Property

Taylor Williams — Thu, 11 Dec 2025 16:49:43 +0000

HOUSTON — Fairstead, an affordable housing owner-operator based in New York City, has announced the $242 million acquisition and rehabilitation of Haverstock Hills, a 700-unit affordable housing property in Houston’s East Aldine neighborhood. Haverstock Hills comprises 44 two- and three-story buildings on a 22-acre site. Residences include a mix of studio, one-, two- and three-bedroom units, all of which are reserved for households earning 60 percent or less of the area median income. Fairstead plans to upgrade unit interiors, building exteriors and common areas, as well as enhance the amenities via an updated clubhouse, outdoor playground, laundry facilities and a business center. Fairstead will also invest in new safety and security measures across the property. Rainbow Housing Corp. will continue to provide onsite social services for residences of Haverstock Hills.

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Crescent Communities to Develop 303-Unit Apartment Community at North DeKalb Mall Redevelopment Project

John Nelson — Thu, 11 Dec 2025 14:37:52 +0000

DECATUR, GA. — Crescent Communities plans to begin construction this month on NOVEL Lulah Hills, a 303-unit apartment community in Decatur. The six-story community, which will feature nearly 40,000 square feet of retail space on the ground level, is a multifamily component within Lulah Hills, EDENS’ 78-acre mixed-use redevelopment of the former North DeKalb Mall. The apartment community will offer a mix of studio, one-, two- and three-bedroom apartments, as well as a pool with cabanas, a beer and game garden, outdoor dining spaces, flexible space for workshops and events, a craft closet, stocked dining pantry and a terrace with firepits and lounge seating. The overall Lulah Hills project, delivered over multiple phases in the coming years, will offer approximately 300,000 square feet of retail and restaurants, a Publix grocery store, 1,800 residential units and multiple green spaces. Crescent Communities plans to deliver NOVEL Lulah Hills in late 2027.

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