REBusinessOnline

PGA to Move Headquarters from South Florida to Frisco, Invest $500M

FRISCO, TEXAS — The PGA of America will move its headquarters from South Florida’s Palm Beach County to Frisco, where it will anchor a 600-acre, mixed-use development. The organization’s initial investment in the northern Dallas suburb will exceed $500 million, while the overall economic impact of the move will exceed $2.5 billion over the next 20 years. The PGA’s new headquarters will include two championship golf courses, a short course and practice areas totaling 45 holes, as well as …

Leon Capital to Develop 364-Unit Apartment Community in Lewisville, Texas

LEWISVILLE, TEXAS — Dallas-based Leon Capital Group will develop Lakeyard District, a 364-unit multifamily community that will be located in the northern Dallas metro of Lewisville. Situated on 15.2 acres, the Class A property will offer one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling area, fitness center, dog park and TV lounges. LG Wade is the general contractor for the project and BGO Architects is handling design. Preleasing is expected to begin in …

Leviathan Capital Provides $20M Construction Loan for Multifamily Development in Westchester, New York

WESTCHESTER, N.Y. — Leviathan Capital has provided a $20 million construction loan for the Grand, a transit-oriented multifamily community in Westchester. The 56,000-square-foot project will consist of 15 townhomes and nine penthouse units. The project is slated to be completed in 2021. Leviathan provided the non recourse loan with a completion and carry guaranty to the borrowers, a group that includes NBA basketball player Luol

Construction Underway for Easton Town Center’s $500M Expansion in Columbus

COLUMBUS, OHIO — Easton Town Center is undergoing a significant expansion that will feature local and national retailers, breweries, restaurants, entertainment venues, hotels and public event space. The expansion will exceed $500 million of development over the next four years. The Georgetown Company is co-developing the project alongside Steiner + Associates and L Brands. Construction is already underway on infrastructure, parking, Merchants Row, The Yard and Urban Hearth. The Yard will …

Lincoln Property Co. Completes $85M Speculative Industrial Building in Metro Phoenix

GOODYEAR, ARIZ. — Lincoln Property Co. has completed Lincoln Logistics 40, an industrial building situated on 50 acres at Interstate 10 and Bullard Avenue in Phoenix’s West Valley. The 901,770-square-foot building is the area’s first-ever 40-foot clear height fully speculative industrial development. Located within The Airport Gateway at Goodyear, the building features 161 dock- and grade-level doors, 185 trailer storage units, 551 parking stalls (expandable to 1,340 stalls), fiber …

Three Developers to Build 617,046 SF Spec Distribution Center in Central Florida

OCALA, FLA. — Red Rock Developments, Westport Capital Partners LLC and Wharton Industrial will build Florida Crossroads Logistics Center, a 617,046-square-foot speculative distribution center in Ocala. The 46-acre site is located about 35 miles south of Gainesville, and is situated approximately one hour from Tampa and Orlando, two hours from Jacksonville and four hours from Miami, allowing the facility to potentially service 14 million people with same-day deliveries. Deborah Mickler and …

S3 Capital Partners Provides $75M Construction Loan for Apartment Tower in the Bronx

NEW YORK CITY — S3 Capital Partners has provided a $75 million construction loan for an apartment tower in the Mott Haven neighborhood of the Bronx. Located at 210 E. 135th St., the property will include 237 residential rental apartments and 3,000 square feet of commercial space. Isaac Filler of Meridian Capital Group represented the borrower, Cheskel Schwimmer of CGS Developers. Terms of the financing were not

IKEA to Open First Manhattan Store

NEW YORK CITY — IKEA U.S. has announced that it will open its first store in Manahattan. The ‘IKEA Planning Studio’ is slated to open at 999 Third Ave. in spring 2019. The Planning Studio concept will focus on smart solutions for urban living and small spaces. The New York City location is the first market in the U.S. for the concept. IKEA U.S. has recently made a number of investments to enhance its e-commerce offerings, including lower priced shipping & delivery, Click & …

Commonwealth Development Completes $95M Mixed-Use Project Near the University of Wisconsin-Eau Claire

EAU CLAIRE, WIS. — Commonwealth Development has completed a $95 million mixed-use project known as Confluence in Eau Claire. Located at the intersection of the Eau Claire and Chippewa rivers, the project consists of two buildings and a public plaza. The first building, completed in 2016, is Haymarket Landing. The $35 million, 235,000-square-foot building consists of 119 student housing units and 33,000 square feet of retail space. The second building, the Pablo Center at the Confluence, is a …

JDC to Build 615,000 SF Distribution Center in Metro Dallas for Ollie’s Bargain Outlet

LANCASTER, TEXAS — Jones Development Co. (JDC) will build a 615,000-square-foot, build-to-suit distribution center in the southern Dallas metro of Lancaster for discount retailer Ollie’s Bargain Outlet, which will ultimately purchase the property. The Class A facility will be located within Wintergreen Exchange, a 71-acre industrial park, and is expected to be complete by the fourth quarter of 2019. Building features will include 36-foot clear heights, 75-foot speed bays, 100 dock doors, …

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