REBusinessOnline

Chozick Realty Negotiates $22M Sale of Hotel, Multifamily Property in Hartford

HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $22 million sale of a hotel and multifamily property located at 50 Morgan St. in Hartford. The 18-story building was originally constructed in 1971 as a 350-room hotel and currently houses 150 hotel rooms and 96 apartments following a recent conversion. The buyer, a partnership between Alexa Group and Shelbourne International, plan to reposition the remaining 150 hotel rooms into 164 apartments, bringing the …

FanDuel Selects Ponce City Market in Atlanta for New 68,000 SF Office

ATLANTA — FanDuel Group, a fantasy sports betting and entertainment company, plans to open a new technology office within Ponce City Market in Atlanta. The New York-based company selected the historic development in the city’s Old Fourth Ward neighborhood as the new technology hub for its software engineering, product development, user experience and user interface teams. The company plans to grow its Atlanta-based workforce to approximately 900 colleagues over the next five years. These …

BDC Group Moves into New 25,000 SF Headquarters in Hiawatha, Iowa

HIAWATHA, IOWA — BDC Group Inc. has moved into its newly constructed headquarters at 1525 Ketelsen Drive in Hiawatha, a northern suburb of Cedar Rapids. The 25,000-square-foot facility features a mix of office, warehouse and flex space. The property will enable BDC to consolidate its Iowa operations teams from multiple facilities in Cedar Rapids. Erica Seelman of GLD Commercial represented BDC throughout the site selection process and lease negotiations. BDC, otherwise known as Building …

High Street Residential Completes Construction of 160-Unit Gramercy Scottsdale Multifamily Project

SCOTTSDALE, ARIZ. — High Street Residential, the residential subsidiary of Trammell Crow Co., along with Principal Real Estate Investors, has completed the development of Gramercy Scottsdale, an apartment community in downtown Scottsdale.Situated on two acres, the five-story, Class A property features 160 apartments in a mix of studio, one- and two-bedroom units and three-bedroom penthouses, ranging in size from 600 square feet to 1,650 square feet. Units offer high-end finishes, gas …

Innovation Quarter Reveals Plans for 2.7 MSF Second Phase of Mixed-Use Campus in Downtown Winston-Salem

WINSTON-SALEM, N.C. — Innovation Quarter (iQ), an entity that controls a 2.1 million-square-foot life sciences and higher education campus of the same name, has revealed plans for its second phase. The upcoming project will expand the mixed-use development in downtown Winston-Salem by 2.7 million square feet across 10 buildings.Set on a 28-acre site straddling Research Parkway, Phase II of iQ will include 1 million square feet of clinical, office and laboratory spaces, as well as up to …

Henderson Park, South Street Acquire 20,000-Acre Waterfront Resort Near Hilton Head

PALMETTO BLUFF, S.C. — Henderson Park Capital Partners and South Street Partners have formed a joint venture to acquire Palmetto Bluff, a 20,000-acre resort in Bluffton that is surrounded by 32 miles of riverfront. The price was not disclosed.Palmetto Bluff features nature trails; two village centers complete with river access, boat storage and a canoe club; dining options; the Montage Palmetto Bluff resort; and a Jack Nicklaus Signature Golf Course. The land includes available …

Nuveen Nears Completion of $55M Renovation at Three Office Properties in Miami

MIAMI — Nuveen Real Estate is nearing completion of renovations at three of its office properties in Miami. The assets are located at 801 Brickell and 701 Brickell in the city’s Brickell financial district and at Waterford Business District, a 250-acre office hub that Nuveen co-owns with Allianz Real Estate. The capital improvements total $55 million in value and include digital, touchless features, new tenant amenities, building systems upgrades and other upscale renovations. The three …

Michaels Organization Breaks Ground on $93.3M Affordable Seniors Housing Project in Downtown Honolulu

HONOLULU — The Michaels Organization, in partnership with the City and County of Honolulu and the State of Hawaii, has broken ground on Halewai`olu Senior Residences, an affordable seniors housing community in downtown Honolulu.Scheduled for completion in 2023, the 17-story development sits on a 26,925-square-foot parcel owned by the City and County of Honolulu. The property will feature 156 one- and two-bedroom affordable rental units.Construction of the $93.3 million project will be …

Alere Property Starts Construction of 211,000 SF Industrial Warehouse in Western Inland Empire

ONTARIO, CALIF. — Alere Property Group is developing a speculative industrial facility located on 9.3 acres at 1656 S. Cucamonga Ave. in Ontario.With construction underway, the 211,000-square-foot property will feature 40-foot clear heights; a 5,000-square-foot, two-story office space; 23 dock-high doors; two ground-level doors; and a 185-foot truck court with extra trailer parking. Completion is slated for third-quarter 2021.Additionally, Alere Property acquired two industrial …

Howard Hughes Developing Two New Projects in Las Vegas’ Summerlin Community

LAS VEGAS — The Howard Hughes Corp. has broken ground on two new projects at Summerlin in Las Vegas: 1700 Pavilion and Tanager Echo.Located directly south of the Las Vegas Ballpark, the 10-story 1700 Pavilion will feature 267,000 square feet of office space on three acres. The property will offer touchless entry from the garage to tenant suits and enhanced filtration throughout the building. Completion is slated for third-quarter 2022. The project team for 1700 Pavilion includes Hart …

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