CHICAGO — Friedman Properties and the City of Chicago have finalized the development agreement of their public-private partnership for Rivere, a 30-story high-rise office building coming to downtown Chicago’s River North district. The 674,000-square-foot tower will be situated at 450 N. Dearborn St., a block south of the intersection of Illinois and Dearborn streets. Rivere will feature a little more than 50,000 square feet of retail space, as well as high-end amenities including concierge services, meditation space, on-demand meeting space, an upscale fitness and wellness center, secure bike room with shower facilities, onsite valet, below-grade garage parking and a food and beverage program operated by Lettuce Entertain You Enterprises. The property will also house a new engine house for Engine Co. 42, the District 1 headquarters for the Chicago Fire Department. Designed by Goettsch Partners, Rivere will feature a glass façade with activated rooftops and sustainable features, including efficient mechanical systems that will help reduce water and energy use. Other design team members include construction management firm Lendlease and engineer DLR Group. Office managers and staff at Rivere will be able use an app to facilitate parking, concierge services, fitness class appointments, guest passes, thermostat control, restaurant reservations and conference …
Development
BOSTON — Cambria Hotels has opened the 159-room Cambria Hotel Boston, Downtown-South Boston. The hotel offers close access to the Massachusetts Bay Transportation Authority red line. Amenities include a rooftop restaurant, lobby lounge, fitness center and 160-person event space. RODE Architects designed the building, the first Cambria Hotel in Massachusetts.
WESTPORT, CONN. — Flexible workspace provider Serendipity Labs has opened a 23,000-square-foot coworking office space in Westport, an eastern suburb of Stamford. The space is located at 55 West Boston Post Road Homeclear Serendipity Westport LLC owns the office building.
Unicorp to Develop 300,000 SF Office Headquarters for Marriott Vacations Worldwide in Orlando
by Alex Tostado
ORLANDO, FLA. — Unicorp National Development Inc. will construct a nine-story, 300,000-square-foot building that will house Marriott Vacations Worldwide Corp.’s headquarters in Orlando. The building will be situated within Unicorp’s O-Town West development, a $1 billion mixed-use project that will include restaurants, offices, entertainment, retail stores, hotels, apartments and residential homes. HuntonBrady Architects is the designer and Finfrock Construction will serve as the general contractor of the office project. Construction of the new campus is scheduled to begin in early 2020 with a 2021 anticipated completion date. Additional details and features of the global headquarters are yet to be determined. Marriott Vacations Worldwide operates under Marriott International while offering vacation ownership, exchange, rental and resort and property management.
Jamestown, Grubb Ventures to Construct $150M Phase I of Mixed-Use Project in Raleigh
by Alex Tostado
RALEIGH, N.C. — Jamestown and Grubb Ventures will develop Phase I of Raleigh Iron Works, a planned mixed-use project that will feature 500,000 square feet of office space, 90,000 square feet of retail space and 220 multifamily units. Phase I is expected to cost more than $150 million to develop and will include a new seven-story multifamily building and the renovation of historic steel mills and warehouses that were once part of Peden Steel. The new residential building will pay homage to historic Raleigh. The historic buildings will be repurposed into office and retail spaces, featuring original architectural details and distinctive finishes. Construction will begin this year and continue through 2023 with plans for additional development. The project site is situated at Raleigh’s Five Points, Person Street and Mordecai neighborhoods, about three miles north of downtown Raleigh.
NAP to Break Ground on Jones Day Office Building Within Colony Square in Midtown Atlanta
by Alex Tostado
ATLANTA — North American Properties (NAP) will break ground Wednesday on Building 500, a six-story, 135,600-square-foot office building within Colony Square in Atlanta’s Midtown district. Jones Day, a Cleveland-based law firm, will lease the entire office component of the building, which will feature ground-level retail space and an outdoor terrace on the fourth floor overlooking Peachtree Street. Hoar Construction is the general contractor. A timeline for completion was not disclosed. NAP began vertical construction of Colony Square in April 2019. Colony Square at full buildout will include 912,000 square feet of Class A office space, 160,000 square feet of retail and restaurants, a 466-room W hotel, outdoor space and 262 luxury residences.
DUNCAN, S.C. — CRG, Clayco’s real estate division, has delivered and sold a 1.3 million-square-foot distribution center within The Cubes at Inland 85 in Duncan. Situated less than two miles from Inland Port Greer, the facility was originally designed as a 500,280-square-foot speculative building but was expanded to fit the needs of the new tenant, an undisclosed Fortune 500 company. An affiliate of Lexington Realty Trust acquired the asset for an undisclosed price. The building features a cross-dock configuration with 36-foot clear heights and an ESFR sprinkler system. Lamar Johnson Collaborative designed the property, and Clayco served as the general contractor. CRG is the main developer of The Cubes. This is the first building to be delivered within The Cubes.
FREDERICK, MD. — The Kroger Co. and Ocado, an online grocer based in England, will develop a 350,000-square-foot customer fulfillment center in Frederick. The new automated warehouse facility will service several nearby markets such as Baltimore, Philadelphia and Washington, D.C. When fully operational, the facility will house 400 employees and feature digital and robotic capabilities. The site is located at 7106 Geoffrey Way, 55 miles west of downtown Baltimore and 65 miles north of downtown D.C. The companies expect the facility to open 24 months after groundbreaking, a timeline for which was not disclosed.
CHARLOTTE, N.C. — Alliance Residential Co. has acquired 15 acres in south Charlotte to develop Broadstone Ayrsley, a planned 320-unit multifamily community. Alliance Residential will begin construction this year and expects to welcome its first residents in 2021. Named Broadstone Ayrsley, the property will comprise one-, two- and three-bedroom apartments and townhomes averaging 939 square feet. Amenities will include a pool, clubroom, fitness center, dog park and a walking path on property. Broadstone Ayrsley will be situated at 2215 Silver Crescent Drive, nine miles south of downtown Charlotte. Cline Design Associates served as the architect.
Seefried, MDH Partners Purchase 20 Acres in East Orlando to Construct Two-Building Industrial Property
by Alex Tostado
ORLANDO, FLA. — Seefried Industrial Properties and MDH Partners LLC have purchased 20 acres in east Orlando to construct Narcoossee Logistics Center, a two-building industrial campus. The first building will span 160,000 square feet and the second will total 120,000 square feet. Both buildings will feature 32-foot clear heights, 130-foot concrete truck courts, an ESFR sprinkler system and a combined 71 dock high doors. The site is situated near State Road 528 and Narcoossee Road, about five miles east of Orlando International Airport. MacGregor Associates is the project architect, and Kimley Horn is the civil engineer. Lee Morris of Colliers International will lead leasing efforts for the project, which is slated for completion by the end of the year.