Development

Shea Properties Completes 500,000 SF Shea Business Center in Santa Ana, California

by Amy Works June 10, 2020

SANTA ANA, CALIF. — Aliso Viejo, Calif.-based Shea Properties has completed the development of Shea Business Center, a Class A industrial park located on the former ITT site on Dyer Road in Santa Ana. Construction began in August 2018 and was completed on June 1, 2020. Totaling 500,000 square feet, the nine-building Shea Business Center offers dock-high and ground-level loading doors, ESFR sprinklers, concrete foundation, gas service to all buildings, potential private yards, ample power and 28-foot to 30-foot clear heights. Anduril has inked a deal to occupy 72,000 square feet at the industrial park. Anduril is a defense technology start-up focused on artificial intelligence platforms to protect troops, fight wildfires, perform search-and-rescue missions and more. John Griffin and Max Wang of Cushman & Wakefield are leasing agents for the property. Tucker Hughes of Hughes Marion represented Anduril in its lease.

June 10, 2020

Development Multifamily Northeast Office Vermont

Nedde Begins Work on 96,000 SF Office, Multifamily Redevelopment in Burlington, Vermont

by Alex Patton June 10, 2020

BURLINGTON, VT. — Nedde Real Estate has begun work on a 96,000-square-foot office and multifamily redevelopment project in Burlington, approximately 40 miles northwest of Montpelier. Project costs are estimated to be roughly $20 million. The locally based developer will convert the People’s United Bank Building, located at 77 Pine St., into a property with 43,000 square feet of office and bank space and 50 apartments. People’s United Bank currently uses the office space as its headquarters. The apartments will offer loft, one- and two-bedroom floor plans. The project is slated for completion in summer 2021.

June 10, 2020

Development Industrial North Carolina Southeast

Prime Beverage Group to Invest $68M for New Manufacturing Facility in Metro Charlotte

by Alex Tostado June 10, 2020

KANNAPOLIS, N.C. — Prime Beverage Group will invest $68 million in a manufacturing facility in Kannapolis that will create 231 jobs. The 300,000-square-foot property will include warehouse space and will have the capability of packing 1,500 cans per minute. The property will be located at 1858 Kannapolis Parkway, 21 miles northeast of downtown Charlotte. Among the positions Prime Beverage will add in the Cabarrus County facility are technicians, sales, operations and managerial personnel with an average annual salary of $65,900. According to North Carolina Gov. Roy Cooper’s office, the current average annual wage in Cabarrus County is $38,892. Funding for the project is coming in part from the state’s Economic Investment Committee, which approved a 12-year Job Development Investment Grant. The grant authorizes the potential reimbursement of up to $2.4 million if the company meets its hiring goal. Prime Beverage is a beverage co-packing company that will contract with brand name beverage companies to mix and package their canned drinks. A timeline for construction was not disclosed.

June 10, 2020

Development Illinois Midwest Multifamily Seniors Housing

McShane Completes Construction of 146-Unit Senior Living Community in Naperville, Illinois

by Kristin Harlow June 10, 2020

NAPERVILLE, ILL. — McShane Construction Co. has completed the construction of Avenida Naperville, a 146-unit senior living community in Naperville. Reserved for adults age 62 and older, the six-building property is geared toward residents who want to maintain an active lifestyle. Residents have access to 13,000 square feet of amenity space, including a clubhouse with a bistro, fitness and yoga studios, a theater, library, private dining room and arts studio. Outdoor amenities include a pool, game lawn and barbecue areas. Meeks + Partners designed the community. Avenida Partners is the developer and owner.

June 10, 2020

Telge-290-Logistics-Center-Cypress-Texas

Development Industrial Texas

Archway, Ridgeline Complete 207,635 SF Telge 290 Logistics Center in Metro Houston

by Taylor Williams June 10, 2020

CYPRESS, TEXAS — A partnership between Texas-based developer Archway Properties and Atlanta-based Ridgeline Property Group has completed Telge 290 Logistics Center, a 207,635-square-foot industrial project in the northwestern Houston suburb of Cypress. The Class A property offers proximity to U.S. Highway 290, Beltway 8 and Grand Parkway. Building features include 32-foot clear heights, 47 dock-high doors, a 180-foot truck court and an ESFR sprinkler system. Colliers International is marketing the property for lease. Telge 290 Logistics Center is the second collaboration in Texas between the two firms.

June 10, 2020

Development Multifamily New Jersey Northeast

Russo Development, Hampshire Cos., Fourth Edition to Develop 271-Unit Apartment Building in Hackensack, New Jersey

by Alex Patton June 9, 2020

HACKENSACK, N.J. — A joint venture between Russo Development, Hampshire Cos. and Fourth Edition will develop Print House by Vermella, a 271-unit apartment building in Hackensack, a northwestern suburb of New York City. Located at 150 River St., Print House by Vermella will feature a mix of studio, one- and two-bedroom floor plans. The property will be located near downtown Hackensack and the Bergen County Courthouse, offering quick access to the New Jersey Transit Hackensack Bus terminal, Interstate 80 and two other public transit stations. Amenities will include a resident lounge, fitness center and access to a riverwalk along the Hackensack River. Future construction phases will include an additional 382 residential units and approximately 30,000 square feet of commercial space. An undisclosed national bank provided a $48.7 million construction loan that carried a 60-month term and a floating interest rate to the joint venture. Thomas Didio, Jon Mikula and Michael Klein of JLL arranged the loan. The construction schedule was undisclosed.

June 9, 2020

Development Florida Multifamily Southeast

Legacy Partners, Griffin Capital Break Ground on 228-Unit Multifamily Community in Downtown Tampa

by Alex Tostado June 9, 2020

TAMPA, FLA. — Legacy Partners and Griffin Capital have broken ground on Legacy at Encore, a five-story, 228-unit multifamily community in downtown Tampa. The property will offer studio, one- and two-bedroom floor plans averaging 763 square feet. Unit interiors will feature 10-foot ceiling heights, quartz countertops, stainless steel appliances, contemporary cabinets, a smart home technology package, full-sized washers and dryers, soaking tubs, glass-enclosed showers, walk-in closets and balconies. Communal amenities will include a fitness center with a yoga/spin studio, internet café with computers and coffee bar, heated saltwater pool with cabanas and lounges, outdoor living room, community kitchen with grilling stations, dog run, pet spa, package lockers, bike repair shop and storage space. Dynamik Design is the Legacy at Encore’s architect, and Summit Contracting Group is the general contractor. The developers expect to deliver the first units in September 2021 and fully complete the project in early 2022. Patrick Dufour, Ryan Crowley and Pibu Aulakh of Newmark Knight Frank (NKF) represented Legacy Partners in sourcing equity financing for the development.

June 9, 2020

California Development Multifamily Western

Hines, MetLife Break Ground on 228-Unit The Grant Multifamily Development in Concord, California

by Amy Works June 9, 2020

CONCORD, CALIF. — Hines, along with investment partner MetLife Investment Management, has broken ground on The Grant, a multifamily community in downtown Concord. Comprising two buildings separated by Clayton Road, The Grant will feature a north building office with 139 apartments and ground-floor retail space, as well as a south building with 89 units. The property will feature a mix of studio, one- and two-bedroom layouts ranging in size from 506 square feet to 1,211 square feet. Community amenities will include a swimming pool, roof deck, clubhouse, outdoor fitness area, fire pits, bicycle parking and space for dogs, as well as 328 parking spaces. Completion is slated for third-quarter 2022, with leasing scheduled to begin in April 2022. Development partners include Architects Orange as design and landscape architect, Haven Design Studio for interior design services and Brown Construction as general contractor.

June 9, 2020

Development Office Texas

Cawley Partners to Develop 120,000 SF Office Project in Plano

by Taylor Williams June 9, 2020

PLANO, TEXAS — Locally based firm Cawley Partners will develop The Parkwood, a 120,000-square-foot office building that will be located just off the Dallas North Tollway in Plano. The property will serve as the new headquarters for Oklahoma-based First United Mortgage Corp, which will occupy approximately half the building. Gensler is designing the project, which will also feature a fully equipped fitness center. Construction of the four-story project is scheduled to begin in September and to be complete in the fourth quarter of 2021.

June 9, 2020

Development Industrial Texas

Equity Industrial, Raith Capital Break Ground on 123,966 SF Spec Industrial Project in El Paso

by Taylor Williams June 9, 2020

EL PASO, TEXAS — A partnership between Massachusetts-based Equity Industrial Partners and New York-based Raith Capital Partners has broken ground on a 123,966-square-foot speculative industrial project in El Paso. The property will be located at 9541 Joe Rodriguez Drive near the Zaragoza International Bridge. Building features will include 28-foot clear heights, overflow trailer storage, a fenced truck court and an ESFR sprinkler system. Construction is expected to be complete in December. Loya Wilke Architects is handling design of the project, and Jacob CM is the general contractor. CBRE will market the space for lease.

June 9, 2020

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