Development

Ryan Cos., Cadence, Starwood Complete Construction of 135-Unit Seniors Housing Project in Arizona

by Amy Works November 3, 2020

SCOTTSDALE, ARIZ. — The joint venture team of Ryan Cos. US, Cadence Living and a controlled affiliate of Starwood Capital Group has completed construction of Acoya Scottsdale at Troon in Scottsdale. The community features 135 independent living and assisted living units in 22 floor plans ranging from 585 square feet to 2,385 square feet. The new community is situated on six acres of land between Pinnacle Peak and Troon Mountain. Thoma-Holec Design handled the interior design. This is the second Acoya-branded community in Arizona, and several more are planned according to the developers. Cadence Living is the operator.

November 3, 2020

Development Midwest Mixed-Use Ohio Top Stories

ICP Purchases 377-Acre Former Amusement Park in Northeast Ohio for Mixed-Use Redevelopment

by Katie Sloan November 3, 2020

BAINBRIDGE TOWNSHIP AND AURORA, OHIO — Industrial Commercial Properties (ICP) has purchased a 377-acre tract that formerly housed the Geauga Lake Amusement Park (pronounced jee-AW-ga) and Sea World Ohio. Cedar Fair sold the asset for an undisclosed price. Located in Bainbridge Township and Aurora approximately 25 miles southeast of downtown Cleveland, the developer plans to rebrand the property as The Geauga Lake District. Elements of the new design will pay homage to the history of the site and the former amusement park, which operated from 1887 to 2007. The master-planned development will include retail, restaurants, residential and other commercial uses alongside public green space. “We are reigniting this iconic landmark,” says Chris Semarjian, owner of ICP. “The redevelopment of this site will not only create a fully functioning district where people can live, work, dine and recreate, but it will also have a broader impact on economic development and job creation for the region.” The development will include the construction of Geauga Lake Boulevard, which will connect State Route 43 to Depot Road. “Many of us that grew up in Northeast Ohio have fond memories of the park and it was important to our development team, the Bainbridge Township trustees and …

November 3, 2020

Development Georgia Industrial Southeast

Ken’s Foods to Invest $103M for Industrial Expansion Near Atlanta

by John Nelson November 2, 2020

MCDONOUGH, GA. — Ken’s Foods, a producer of salad dressings, sauces and marinades, will invest $103 million to expand its distribution and manufacturing facility in McDonough. Ken’s Foods will occupy a 343,625-square-foot space within Midland Industrial Park, which is situated at 220 Midland Court, 25 miles southeast of Hartsfield-Jackson Atlanta International Airport. The new space will house 70 employees, bringing the company’s total at the site to 570 workers. WXGA reports that Ken’s Foods plans to complete the project in early 2022. The landlord was not disclosed.

November 2, 2020

Alabama Development Healthcare Southeast

Daniel Corp. Breaks Ground on 144,000 SF Medical Office Building in Birmingham

by John Nelson November 2, 2020

BIRMINGHAM, ALA. — Daniel Corp. has broken ground on Grandview Medical Plaza II, a four-story, 144,000-square-foot medical office building in Birmingham. White Plains, N.Y.-based Seavest Healthcare Properties is the developer and owner. Grandview Medical Plaza II is situated next to Grandview Medical Plaza I, an eight-story, 208,000-square-foot building that is also owned by Seavest. Grandview Medical Plaza II will be situated within the 103-acre Cahaba Center at Grandview campus, which is located nine miles southeast of downtown Birmingham. Daniel Corp. expects to deliver Grandview Medical Plaza II in early 2022.

November 2, 2020

Development Retail Southeast Tennessee

Knoebel Construction Delivers Indian-American Grocery Store in Nashville

by John Nelson November 2, 2020

NASHVILLE, TENN. — Knoebel Construction has delivered a new Patel Brothers grocery store in Nashville. This marks the 10th location in eight states that Knoebel has delivered on behalf of the Indian-American grocer. The store spans 25,000 square feet and is situated at 420 Harding Place, seven miles southeast of downtown Nashville. Brentwood, Tenn.-based H. Michael Hindman Architects P.C. designed the grocery store.

November 2, 2020

Development Massachusetts Multifamily Northeast Seniors Housing

DiMella Shaffer Completes Second Expansion at Seniors Housing Property in Lexington, Massachusetts

by Taylor Williams November 2, 2020

LEXINGTON, MASS. — DiMella Shaffer, a Boston-based architecture and design firm, has completed its second expansion project for the 26-acre Brookhaven at Lexington seniors housing community located north of Boston. The project featured renovations to all common areas, and expansion and improvements to the assisted care and long-term care facility. A four-story wing that houses new amenities has also been added. Brookhaven Senior Living owns the property.

November 2, 2020

Development Multifamily Seniors Housing Texas

Story Senior, MPH Partners Underway on 140-Unit Seniors Housing Project in Irving

by Taylor Williams November 2, 2020

IRVING, TEXAS — A partnership between Story Senior Ltd. and MPH Partners LLC is underway on construction of The Luxe at Las Colinas, a 140-unit active adult project that will be located at the intersection of State Highway 161 and North Belt Line Road in Irving. The community will span approximately 149,000 square feet and offer one- and two-bedroom units ranging in size from 644 to 1,112 square feet. Amenities will include a pool, fitness center, library, medical clinic, wellness café, activity center and media room. Moss Construction is the general contractor for the project, which is expected to be complete in November 2021. Active adult communities are age-targeted or an age-restricted developments designed for people 55 or older that typically feature single-family, detached residences.

November 2, 2020

Arizona Development Multifamily Western

Opus, Principal Real Estate Investors Open 352-Unit Multifamily Community in Peoria, Arizona

by Amy Works November 2, 2020

PEORIA, ARIZ. — The Opus Group, in joint venture partnership with Principal Real Estate Investors, has opened Paradise @ P83, an apartment property located at 16601 N. 75th Ave. in Peoria. Situated within the P83 Entertainment District, Paradise @ P83 features 352 apartments in a mix of studio, one-, two- and three-bedroom floor plans ranging from 640 square feet to 1,445 square feet. Apartments include smart door locks, thermostats and lights. Additionally, each unit features natural stone countertops with a subway tile backsplash; gourmet kitchen islands; stainless steel, energy-efficient appliances; walk-in closets with built-in shelving and storage; full-sized washers/dryers; and a personal patio or balcony, as well as covered parking. Community amenities include a 6,000-square-foot clubhouse and leasing center with an upscale kitchen, Starbucks Coffee bar and lounge areas with televisions and games. Other amenities include a heated swimming pool and spa; large courtyard with patio dining and grilling stations; business center with coworking space; community dog park and pet spa; and 24-hour, 2,000-square-foot fitness center and spin studio. The property also offers a package locker system, valet trash, electric vehicle charging stations and a shaded playground. P.B. Bell manages the 330,000-square-foot development that consists of three- and four-story buildings.

November 2, 2020

Development Industrial Northeast Pennsylvania

Endurance, Blue Vista Sell 1 MSF Distribution Center in Pittston, Pennsylvania for $96M

by Taylor Williams October 30, 2020

PITTSON, PA. — A partnership between Endurance Real Estate Group LLC and Blue Vista Capital has sold the 1 million-square-foot Interstate Distribution Center in Pittston, located south of Scranton, for $96 million. The partnership purchased the 225-acre former Techneglas manufacturing site in 2012 and redeveloped the property into a modern bulk warehouse/distribution asset. The new cross-dock building features 40-foot clear heights, 193 dock doors, 421 car parking spaces and 129 truck parking spaces. Gerry Blinebury and Dan Walsh of Cushman & Wakefield represented the partnership in the sale. Jason Webb and Kris Bjorson of JLL represented the undisclosed buyer.

October 30, 2020

Development Massachusetts Multifamily Northeast

Mill Creek Begins Leasing Two Boston-Area Apartment Communities Totaling 518 Units

by Taylor Williams October 30, 2020

BOSTON — Mill Creek Residential has begun leasing Modera Framingham and Modera Marshfield, two apartment communities totaling 518 units in the Boston area. Modera Framingham offers studio, one-, two- and three-bedroom homes and amenities such as a central courtyard, 24-hour fitness studio, media room, clubhouse with coffee bar, a pet park and pet spa, cyber café and a game room. Modera Marshfield offers the same unit mix and a similar suite of amenities. Mill Creek has six communities in the Boston area including these two properties. According to Apartments.com, rents start at $1,995 per month for a studio apartment at Modera Framingham and $2,225 per month for a one-bedroom at Modera Marshfield.

October 30, 2020

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