Connect CRE reported that VAC Development has broken ground on The Cliff, a $100 million conversion of a 10-acre, 100,000-square-foot office property in Green Valley Ranch. A VAC-led joint venture acquired and recapitalized the project at the end of August, with CAST Capital Partners staying on as a partner. Construction began September 1, and delivery to tenants is targeted for the second quarter of 2027.
The brief also noted three new tenants, Visual Comfort, Pvolve and BODYROK, joining Arhaus, The Taco Stand, Lyte House, The Barista Botanist and Killer Whale Creamery. It said the entertainment program will include bands, DJs, comedy and karaoke, plus outdoor events such as car shows, seasonal markets and arts and crafts fairs, giving the property more room for recurring events than a typical retail center.