Development

Optima Tops Off 198-Unit Luxury Apartment Project in Chicago’s Lakeview Neighborhood

by Kristin Harlow March 18, 2021

CHICAGO — Optima Inc. has topped off Optima Lakeview, a 198-unit luxury apartment project in Chicago’s Lakeview neighborhood. The seven-story, transit-oriented development includes 14,000 square feet of street-level retail space. First move-ins are scheduled for spring 2022. Work on the project, which is situated on the site of a former Treasure Island grocery store, began five months ago. Optima is serving as both architect and general contractor. Optima Lakeview will feature 40,000 square feet of amenities, including a rooftop sky deck, indoor basketball court, golf simulator, fitness center, yoga room, sports lounge, dog park, game room, demonstration kitchen, business center and two conference rooms. Units will feature keyless entry and smart thermostat and lighting. Optima says the units are significantly larger than what’s currently available in the market in order to accommodate dedicated space for a home office with the rise of the work-from-home model.

March 18, 2021

Data Centers Development Illinois Industrial Midwest

Skybox, Prologis Underway on Development of 189,000 SF Data Center in Elk Grove Village, Illinois

by Kristin Harlow March 18, 2021

ELK GROVE VILLAGE, ILL. — Skybox Datacenters is underway on the development of Skybox Chicago I, a 189,000-square-foot data center in the suburban Chicago community of Elk Grove Village. The project is the first facility being developed as part of a new partnership between Skybox and Prologis Inc. The partnership will focus on data center markets across Chicagoland. Completion of the first facility is slated for November.

March 18, 2021

Development Loans Multifamily New Jersey Northeast

Greystone Arranges $65M Construction Loan for Multifamily Project in Roselle Park, New Jersey

by Taylor Williams March 18, 2021

ROSELLE PARK, N.J. — Greystone has arranged a $65 million construction loan for a 325-unit multifamily project at 10 Westfield Ave. W. in the Northern New Jersey community of Roselle Park. The project will include the development of 16,000 square feet of retail space and a 518-space parking garage and an amenity package that consists of a courtyard, lounge, fitness center and meeting rooms. ACORE Capital provided the loan to Capodagli Property Co. Drew Fletcher, Miryam Kops and Bryan Grover of Greystone placed the debt. Completion is slated for 2023.

March 18, 2021

Development Hospitality Massachusetts Northeast

Cicero Construction Group Completes Renovation of 56-Room Boutique Hotel in Boston

by Taylor Williams March 18, 2021

BOSTON — Illinois-based general contractor Cicero Construction Group has completed the renovation of the Staypineapple Boston, a 56-room boutique hotel in the city’s South End neighborhood. The project included a rebranding of the hotel, formerly known as the Chandler Inn, as part of Seattle-based Staypineapple chain, which purchased the property in February 2018. Renovations delivered upgraded beds and bathrooms to rooms, as well as new flooring, paint, wall coverings and other interior improvements to the lobby, hallways and common areas.

March 18, 2021

Development Mixed-Use Multifamily Office Retail South Carolina Southeast

Sembler, Hawthorne Residential to Develop 46-Acre Mixed-Use Project in Myrtle Beach

by Julia Sanders March 17, 2021

MYRTLE BEACH, S.C. – The Sembler Co., a St. Petersburg, Fla.-based commercial real estate developer, plans to develop The Mill, a 46-acre mixed-use project in Myrtle Beach’s Carolina Forest community. The new development is slated to include retail, office space and multifamily. Sembler is partnering with Hawthorne Residential Partners on the apartment residences. Sembler and Hawthorne expect to begin construction this summer. The Mill is situated at the intersection of River Oaks Drive and Carolina Forest Boulevard, adjacent to The Parks of Carolina Forest, a roughly 800-unit housing development by D.R. Horton Inc. The Mill will include Marketplace at The Mill, a 66,680-square-foot neighborhood shopping center that features a freestanding, 46,800-square-foot Publix, as well as a six-acre parcel ideal for a medical or traditional office, hotel, mini-storage or other commercial use. The shopping center is expected to be complete by summer 2022. The Mill will also include Hawthorne at The Mill, a 290-unit multifamily residential community. The property will offer one-, two- and three-bedroom units throughout two four-story buildings with elevator access and nine, two-story carriage-style buildings over private garages. The apartment community will also feature over 8,000 square feet of amenity space, including a luxury clubhouse with resident lounge, …

March 17, 2021

Development Office Texas

State Bank of Texas to Open 48,000 SF Office Headquarters in Irving’s Las Colinas District

by Taylor Williams March 17, 2021

IRVING, TEXAS — State Bank of Texas, a Dallas-based commercial lender with $1 billion in assets under management, will open a 48,000-square-foot office headquarters in Irving’s Las Colinas district. Dallas-based Malone Maxwell Dennehy Architects is designing the four-story, Class A project, with State Bank of Texas set to occupy the top two floors. Construction should commence by the end of the year and is expected to be completed mid-2023.

March 17, 2021

Civic Development Texas

Adolfson & Peterson, Potter County Break Ground on 158,250 SF District Courts Project in Amarillo

by Taylor Williams March 17, 2021

AMARILLO, TEXAS — General contractor Adolfson & Peterson Construction, in partnership with Potter County, has broken ground on the new District Courts Building, a 158,250-square-foot civic project in Amarillo. Designed by HOK Group, the five-story building will house courtrooms, a jury assembly room, county offices, holding areas and records storage space. Completion is slated for late 2022.

March 17, 2021

Development Multifamily New Jersey Northeast Seniors Housing

Thrive to Open 203-Unit Seniors Housing Community in Montvale, New Jersey

by Taylor Williams March 17, 2021

MONTVALE, N.J. — Thrive Senior Living will open the welcome center on March 27 at Thrive at Montvale, a seniors housing community in the Northern New Jersey city of Montvale. The three-story building is located near Lake Tappan along the New York State border just north of Manhattan and will feature 203 units of independent living, assisted living and memory care.

March 17, 2021

Development Illinois Industrial Midwest

Duke Realty Underway on Two Industrial Build-to-Suit Projects Totaling 1.8 MSF in Metro Chicago

by Kristin Harlow March 17, 2021

ROMEOVILLE AND BEDFORD PARK, ILL. — Duke Realty (NYSE: DRE) is underway on construction of two build-to-suit industrial developments totaling 1.8 million square feet in metro Chicago. The first project is a 1.2 million-square-foot fulfillment center for Wayfair at Airport Logistics Center in Romeoville. The project is situated on nearly 82 acres at 1040 W. Renwick Road and is part of the business park’s second phase of development. Wayfair will fully occupy the facility and expects to employ as many as 500 workers during peak times of the year. Duke worked closely with tenant representative brokers John Suerth and Jon Varholak of CBRE and as well as listing brokers Jason West and Sean Henrick of Cushman & Wakefield. The second project is a 655,200-square-foot facility for a national home improvement retailer in Bedford Park. Located at 6600 W. 68th St., the property will service same-day and next-day delivery needs for customers with close proximity to I-294 and I-55. Plans call for 46 dock doors, 293 trailer spaces and 205 car spaces. Tony Kepano and Matt Mulvihill of CBRE served as the tenant representative and Chris Gary of NAI Hiffman served as the listing broker.

March 17, 2021

Development Healthcare Midwest Missouri

Ryan Cos. Breaks Ground on 46,000 SF Medical Office Building Near St. Louis

by Kristin Harlow March 17, 2021

ST. PETERS, MO. — Ryan Cos. US Inc. has broken ground on a 46,000-square-foot medical office building in St. Peters, about 30 miles northwest of St. Louis. The project is fully pre-leased to St. Peters Ambulatory Surgery Center, Advanced Bone & Joint, St. Luke’s Hospital Center for Diagnostic Imaging and Axes Physical Therapy. The development is situated at 5200 Executive Centre Parkway, about a half-mile from Barnes-Jewish St. Peters Hospital. Ryan Architecture + Engineering designed the building, and Ryan Cos. is serving as developer and builder. This is Ryan’s second project in St. Peters and sixth project in partnership with Surgery Partners. Completion is slated for March 2022.

March 17, 2021

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