MINNETONKA, MINN. — A joint venture between LeCesse Development Corp., Morgan Management and UC Funds has broken ground on RiZE at Opus Park, a 322-unit apartment community in Minnetonka, a western suburb of Minneapolis. The $73 million project is a redevelopment of the Opus Business Park. The property will feature studio, one- and two-bedroom units. Plans call for construction of a six-story building and a 492-car parking garage. Amenities will include a clubhouse, fitness center, movie..
SOUTHAVEN, MISS. — CVH Airways LLC has opened Homewood Suites by Hilton Southaven, a 99-room hotel located at 135 Homewood Drive in Southaven, roughly 13 miles south of Memphis in Mississippi. The hotel includes a mix of studio, one- and two-bedroom accommodations and features fully equipped kitchens and separate living and sleeping areas. Amenities include a fitness center, indoor pool, outdoor sports court and 468 square feet of meeting space. Vista Host Inc. will manage the property.
ST. PETERS, MO. — Developer GBT Realty Corp. is nearing completion of The Shoppes at Mid Rivers, a 270,000-square-foot shopping center in St. Peters, a suburb of St. Louis. The project is the largest retail development in the St. Louis metro area in nearly a decade, according to GBT. Burlington, Marshalls, HomeGoods and Aspen Dental are set to open at the property in September. Academy Sports + Outdoors and Famous Footwear will open in October. Ross, OshKosh B’gosh, Five Below and Nail..
MESA, ARIZ. — The Opus Group has announced plans to build a 147,672-square-foot speculative industrial project inside the Longbow Business Park and Golf Club in Mesa. The project will be called Longbow Gateway One. Construction is scheduled to begin this month, with an estimated completion date of January 2018. The project will be situated near the southeast corner of Higley Road and Longbow Parkway, near the 2 million-square-foot Boeing Co. manufacturing facility. Opus Design Build..
HENDERSON, NEV. — Panattoni Development has completed a 482,300-square-foot industrial building at South 15 Airport Center in the Las Vegas submarket of Henderson. The building is situated on a 28-acre parcel on Executive Airport Drive. The $24 million project has a clear height of 36 feet. The project is the only large industrial development located in the south end of the valley, according to Panattoni. PDC USIF South 15 LLC, a joint venture between Panattoni Development and Hillwood,..
BOSTON — Lena New Boston, a partnership between New Boston Fund and Lena Park Community Development Corp., is continuing its $200 million redevelopment of the former Boston State Hospital site with 41 additional two- and three-bedroom units of mixed-income townhomes at Olmstead Green, the first workforce housing/homeowners project in Boston funded by MassHousing’s Opportunity Fund, the Department of Neighborhood Development and the Neighborhood Housing Trust. The project’s overall master..
MONTGOMERY, N.Y. — Meridian Design Build has completed the construction of a package sortation and distribution center located at 201 Neelytown Road in Montgomery for developer SunCap Property Group. Situated on 44.1 acres, the 248,370-square-foot facility was built for a leading provider of global shipping and information services. The facility features 63 loading docks, seven drive-in doors, 184 interior van loading positions, 451 auto parking stalls and 190 exterior trailer stalls...
SAVANNAH, GA. — Safavieh, a New-York based manufacturer and distributor of international home furnishings, will invest $60 million to develop a 1.1 million-square-foot fulfillment center at the Savannah River International Trade Park in Savannah. Bob Robers of Cushman & Wakefield represented Safavieh in the acquisition and development of the site, and Bradley Migdal and Carol Henderson of Cushman & Wakefield secured financing for the project. Safavieh currently operates more than..
MCKINNEY, TEXAS — Hunt Southwest will develop a 400,000-square-foot industrial facility in McKinney. The property, which will be built entirely on a speculative basis, will be located near U.S. Highway 380 and be branded University Business Park, according to The Dallas Morning News. A timetable for construction has not yet been established.
BOSTON — Colliers International has arranged the sale of a residential redevelopment property located at 27-29 Isabella St. in Boston’s Bay Village neighborhood. Marist Fathers sold the property New Boston Ventures for $11.4 million. The buyer plans to redevelop the property into nine high-end residential condominiums. Chris Sower, Scott Dragos and Tom Hynes of Colliers represented the seller, while Harry Collings of New Boston Ventures provided in-house representation for the buyer in the..