REBusinessOnline

Bass Cap, LM Construction Complete 195,947 SF Industrial Asset in Las Vegas, Sell to EastGroup for $25.5M

LAS VEGAS — EastGroup Properties has acquired a Southwest Commerce Center, a newly constructed industrial asset in Las Vegas, for $25.5 million. Brass Cap Development and LM Construction Co. collaborated on the project. The property consists of three concrete tilt-up buildings offering a total of 195,947 square feet of industrial space. Situated on 11 acres at the northwest corner of Russell Road and Decatur Boulevard, the asset’s three buildings range from 23,000 square feet to 101,000 …

Stonelake Capital Partners Tops Out 210,000 SF Office Building in Houston

HOUSTON — Stonelake Capital Partners, a private equity firm with offices in Dallas, Houston and Austin, has topped out 200 Park Place, a 210,000-square-foot office building located within the Park Place | River Oaks development in Houston. Designed by Beck Architecture and constructed by Harvey Builders, the 15-story building will feature ground-floor restaurants, a conference center and tenant lounge and access to a landscaped terrace and park. The property, which is 30 percent preleased, is …

Crocs Opens 550,000 SF Distribution Center in Dayton, Ohio

DAYTON, OHIO — Crocs Inc., a casual footwear company, has opened a new 550,000-square-foot distribution center in Dayton. The facility will serve as the company’s main distribution center in the United States and Canada and replaces a facility located near Los Angeles. The Dayton facility is approximately 40 percent larger than the Los Angeles facility. The larger property, in combination with the central location, will significantly increase speed-to-market capabilities for wholesale …

ACS to Build 48,000 SF Headquarters in Wisconsin’s Liberty Business Park

VERONA, WIS. — ACS, an equipment, controls and facility solutions provider, is building a new 48,000-square-foot headquarters within Liberty Business Park in Verona, a suburb of Madison. The property will be situated on 5.7 acres at the southeast corner of Whalen Road and Liberty Drive. A groundbreaking ceremony took place on Friday, Nov. 1. Completion is slated for late 2020. Eppstein Uhen Architects and Ideal Builders make up the project team. Terry McMahon, Steve Styza and Cody Ziegler of …

Mesquite City Council Approves Plans for 652-Acre Mixed-Use, 80-Acre Industrial Projects

MESQUITE, TEXAS — The Mesquite City Council has approved plans for the development of Spradley Farms, a 652-acre mixed-use project that will feature more than 2,500 single-family homes and commercial components. The government body also approved Urban District 30, an 80-acre industrial development. Urban Logistics Realty is developing the industrial project, which will include five buildings spanning 979,000 square feet and is expected to generate 500 to 900 new jobs.Urban Logistics …

Stonebridge Cos. Opens 382-Room Dual-Branded Hilton Hotel in Downtown Denver

DENVER — Denver-based Stonebridge Cos., as owner and manager, has opened a 22-story, dual-branded hotel in downtown Denver. Located at 801 15th St., the 382-room asset features the 176-key Tru by Hilton Denver Downtown Convention Center and the 206-suite Home2 Suites by Hilton Denver Downtown Convention Center. Property amenities include 3,300 square feet of flexible meeting space with views of the Rocky Mountains, the street-level Tempo Bar, a shared lobby, grab-and-go market, …

Panattoni Development Breaks Ground on Two Buildings at South15 Airport Center in Nevada

HENDERSON, NEV. — Panattoni Development has started construction of Building C and D at South15 Airport Center, an office and industrial park located on Bowes Avenue in Henderson. Delivery is slated for early 2020. Building C will be a 183,560-square-foot, cross-dock industrial facility and Building D will be an 83,000-square-foot single-load distribution building. The 153-acre South15 Airport Center also includes a 310,000-square-foot FedEx Ground facility and a 482,300-square-foot …

158-Room Cambria Hotel Under Construction in Detroit

DETROIT — Detroit’s first Cambria hotel is under construction in the downtown area. Slated to open in 2020, the six-story, 158-room hotel will be Cambria’s second location in the state of Michigan. Located at 600 W. Lafayette Blvd., the Cambria hotel is part of an adaptive reuse project of the former WWJ Studios. The hotel will feature a rooftop bar with pool, onsite restaurant, meeting space, a fitness center and ballroom. A joint venture between Means Group Inc. and Koucar Management …

Alliant Capital Completes 295-Unit Seniors Housing Community at Former Shopping Center Near Seattle

LYNNWOOD, WASH. — Alliant Capital has completed construction of The Reserve at Lynnwood, a 295-unit affordable seniors housing community in Lynnwood, approximately 15 miles north of Seattle. The development struggled in its early days, dealing with environmental contamination at the site, which was formerly a 1950s-era decrepit shopping center, as well as a fire that destroyed initial construction in 2017. “This project certainly had its challenges, but we were determined to overcome …

NRP, Willton Break Ground on 368-Unit Multifamily Project in Austin’s Tech Ridge Area

AUSTIN, TEXAS — A joint venture between multifamily developer The NRP Group and New York-based Willton Investment Group has broken ground on Lucent, a 368-unit multifamily project in Austin’s Tech Ridge neighborhood. Nearby employers include Dell, General Motors, Applied Materials, Samsung and Apple. The community will consist of 16 residential buildings that feature one-, two- and three-bedroom units with attached garages and a standalone clubhouse. Amenities will include a resort-style …

Conferences