Development

Ascend Delivers 12-Story Luxury Condominium Tower in Chicago’s River North

by Kristin Harlow June 5, 2020

CHICAGO — Ascend Real Estate Group has delivered Superior House, a 12-story, 33-unit luxury condominium tower located at 366 W. Superior St. in Chicago’s River North neighborhood. @properties Developer Services is the exclusive sales and marketing firm for the project, which is currently 70 percent sold. Prices range from $1.8 million to $2.5 million. FitzGerald Associates Architects designed the building to include only four units per floor in order to increase privacy and natural light. Power Construction was the general contractor and Gary Lee Partners designed the interiors and amenity spaces, which include a rooftop deck, outdoor bar and lounge, vegetable garden, fenced dog run, entertainment room and fitness center.

June 5, 2020

Development Midwest Missouri Office

Grand Place Slated to Be First WELL-Certified Project in Kansas City, Missouri

by Kristin Harlow June 5, 2020

KANSAS CITY, MO. — Grand Place is slated to be the first WELL-certified project in Kansas City. Similar to how the LEED building rating system measures sustainability and energy efficiency, the WELL standard measures a building’s health and wellness performance for its occupants. 3D Development, the developer of Grand Place, is also seeking LEED certification for the project, which involves the redevelopment of the former headquarters for The Kansas City Star newspaper. Building systems will be actively monitored for WELL standards. A third-party company will test and analyze the building’s air quality. The entire building will be equipped with a water filtration system. Upon completion, Grand Place will include 300,000 square feet of office space and a European-style market and grocery store. Floor plates will range from 5,000 to 40,000 square feet. The International WELL Building Institute, based in New York City, administers the WELL standard, which launched in October 2014.

June 5, 2020

Development Multifamily Southeast Tennessee

Alliance Residential to Develop 343-Unit Multifamily Community in Nashville

by Alex Tostado June 4, 2020

NASHVILLE, TENN. — Alliance Residential Co. will develop Broadstone Nations, a planned 343-unit multifamily community in Nashville’s The Nations neighborhood. Alliance Residential closed on the 6.3-acre land sale and expects to begin construction later this year with the first units slated to open in early 2022. The five-story building will offer studio, one- and two-bedroom floor plans averaging 809 square feet. Communal amenities will include a private meditation room, fitness center with a separated yoga room and a saltwater pool. Unit interiors will feature soft-close cabinetry, built-in desks, chef-inspired kitchen islands, and select units will feature home offices, dry bars and wine refrigerators. The community will be located at 4731 Centennial Blvd., five miles west of downtown Nashville.

June 4, 2020

Development Florida Multifamily Seniors Housing Southeast

Watercrest, Titan Development Open Seniors Housing Community in Metro Orlando

by Alex Tostado June 4, 2020

WINTER PARK, FLA. — Watercrest Senior Living Group and Titan Development Real Estate Fund I have opened Watercrest Winter Park Assisted Living and Memory Care, a 107-unit seniors housing community in Winter Park. Watercrest Winter Park features 75 assisted living and 32 memory care apartments. The property is located at 1501 Glendon Parkway, seven miles north of downtown Orlando. This is the second senior living development partnership between Watercrest and Titan Development. Titan Development Real Estate Fund I is a $200 million private equity real estate fund established in 2017 to raise and invest equity in approximately $600 million of Titan Development’s investment opportunities.

June 4, 2020

Development North Carolina Retail Southeast

Halpern Delivers Publix-Anchored Shopping Center in Oak Island, North Carolina

by Alex Tostado June 4, 2020

OAK ISLAND, N.C. — Halpern Enterprises has delivered Oak Island Market Place, a 35,800-square-foot, Publix-anchored property in Oak Island. Publix occupies 28,800 square feet. The remaining restaurant and retail space is available for lease. The property is situated at 5001 E. Oak Island Drive, 36 miles south of downtown Wilmington. This is the ninth shopping center Halpern has developed or redeveloped with a Publix anchor and the fourth in North Carolina.

June 4, 2020

Belmont-Village-Senior-Living-La-Jolla-CA

California Development Multifamily Seniors Housing Western

Belmont Village, Greystar Start Construction of 17-Story Seniors Housing Project Near San Diego

by Amy Works June 4, 2020

LA JOLLA, CALIF. — Belmont Village Senior Living and Greystar have broken ground on Belmont Village Senior Living of La Jolla. The development is Belmont Village’s 32nd community and its third in San Diego County. The project is Belmont’s first in partnership with another developer. “A mutual colleague brought us together — Greystar had sourced a terrific location with an entitlement history that made it a perfect opportunity for licensed seniors housing,” says Patricia Will, Belmont Village founder and CEO. “We saw the potential of the site, and of bringing our mutual expertise together to create something really unique in independent and assisted living.” Belmont Village and Greystar jointly purchased the land in March and closed on a construction loan in April. The partners have collaborated to develop the project since late 2017. Belmont Village La Jolla will be a 17-story high-rise with 180 units of independent living, assisted living and memory care. The architect on the 209,000 square foot building is Joseph Wong Design Associates and project contractor is Suffolk Construction, both based in San Diego. The development is Belmont Village’s seventh project with equity partner Harrison Street Real Estate Capital.

June 4, 2020

400-University-Rainier-Square-Seattle-WA

Development Office Washington Western

Wright Runstad, Intercontinental Real Estate Break Ground on 122,000 SF Office Building in Seattle

by Amy Works June 4, 2020

SEATTLE — Local developer Wright Runstad & Co., in partnership with Intercontinental Real Estate Corp., has broken ground on 400 University @ Rainier Square. The 10-story, Class A office building will be located at the southwest corner of University Street and Fourth Avenue in downtown Seattle. Totaling 122,000 square feet, the development will feature 110,000 square feet of office space above 12,000 square feet of street-level restaurant and lounge space. Additional features will include a subgrade mezzanine level, a 6,000-square-foot rooftop deck, third-floor terrace, bike storage, locker rooms with showers and dedicated tenant parking. The plans also include an underground concourse that connects to the Washington Athletic Club, Seattle Hilton, Union Square and the Washington State Convention Center. Upon completion in July 2021, the NBBJ-designed building will complete Rainier Square, a 1.2 million-square-foot mixed-use project Wright Runstad developed. Jeffery Weber and Jason Flynn of Eastdil Secured’s San Francisco office arranged the secured the joint venture partnership. Greg Inglin and David Abbott of Colliers International represent the office leasing team.

June 4, 2020

Arizona Development Industrial Western

Hines, Oaktree Select Graycor to Build First Phase of 1.2 MSF Industrial Project in Glendale, Arizona

by Amy Works June 4, 2020

GLENDALE, ARIZ. — Hines, along with funds managed by Oaktree Capital Management, has selected Graycor Construction’s Southwest Division as general contractor for Phase I of Glendale 303 (G303), a Class A industrial development along the Loop 303 corridor in Glendale. The industrial park will be constructed in two phases, with two buildings each totaling 569,520 square feet. To accommodate needs of a major tenant, G303 will offer the flexibility to convert into a single, 1.2 million-square-foot building. Graycor will manage grading for the full project site and build G303’s first 569,520-square-foot building. Construction is slated to begin in July, with completion scheduled for first-quarter 2021. Ware Malcomb is serving as architect for G303. Bill Honsaker and John Lydon of JLL are serving as leasing brokers for the project.

June 4, 2020

Development Industrial Midwest Wisconsin

HSA Commercial Real Estate Breaks Ground on 1 MSF Industrial Park in Bristol, Wisconsin

by Kristin Harlow June 4, 2020

BRISTOL, WIS. — HSA Commercial Real Estate, in partnership with Washington Capital Management, has broken ground on the first phase of the 68-acre Bristol Highlands Commerce Center in Bristol near I-94 and the Wisconsin-Illinois border. The first two speculative buildings are slated for completion in the fourth quarter. One is a 157,656-square-foot warehouse with 31 truck docks, and the other is a 472,216-square-foot distribution center with 72 truck docks. Jeff Hoffman and Chad Vande Zande of Cushman & Wakefield | Boerke, along with Eric Fischer of Cushman & Wakefield in Chicago, are marketing the facilities for lease. Premier Design + Build Group is the general contractor, Partners in Design Architects is the architect and Pinnacle Engineering is the civil engineer.

June 4, 2020

Development Illinois Industrial Midwest

Meridian Design Build Completes Construction of 673,920 SF Speculative Industrial Building in Metro St. Louis

by Kristin Harlow June 4, 2020

EDWARDSVILLE, ILL. — Meridian Design Build has completed the construction of a 673,920-square-foot speculative industrial building in Edwardsville within metro St. Louis. Exeter Property Group was the developer. The new facility is located on a 135-acre parcel within Gateway Commerce Center. The building features a clear height of 36 feet, 132 loading docks, four drive-in doors, 398 auto parking stalls and 171 exterior trailer stalls. JRA Architecture and Stock & Associates Consulting Engineers Inc. made up the project team.

June 4, 2020

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