Development

Meijer to Open 42,000 SF Rivertown Market in Detroit’s East Jefferson Corridor

by Kristin Harlow October 28, 2020

DETROIT — Meijer, the City of Detroit and RDG Rivertown Market LLC have unveiled plans for a new ground-up grocery development located at 1475 E. Jefferson Ave. within the city’s East Jefferson Corridor. Meijer will operate the 42,000-square-foot store, dubbed Rivertown Market. The project marks the fourth small-format store for Meijer. Other locations are in Grand Rapids, Royal Oak and Lansing. Rivertown Market will offer fresh food and artisan groceries as well as Meijer- and national-branded products. The Detroit location will create approximately 60 jobs. Rockford Construction is the general contractor. Gun Lake Investments and Mercantile Bank are financing the project, which is expected to take 14 months to build.

October 28, 2020

Development Industrial Midwest Missouri

Opus Breaks Ground on 182,000 SF Spec Industrial Development in Liberty, Missouri

by Kristin Harlow October 28, 2020

LIBERTY, MO. — The Opus Group has broken ground on Heartland Meadows Commerce Center, a 182,000-square-foot industrial development in Liberty, a suburb of Kansas City. It is the first speculative, new-construction project within the larger Heartland Meadows Industrial Park in the past decade, according to Opus. The building will be able to accommodate up to eight tenants and feature 220 car parking stalls, up to 43 dock positions, two drive-in doors, trailer parking and a clear height of 32 feet. Completion is slated for August 2021. Opus is serving as developer, design-builder, architect and engineer. Patrick McGannon and Matthew Severns of Kessinger-Hunter are handling leasing.

October 28, 2020

Development Multifamily New Jersey Northeast

KRE Group, Russo Receive $71M Construction Loan for Multifamily Project in Rockaway, New Jersey

by Taylor Williams October 28, 2020

ROCKAWAY, N.J. — A partnership between two New Jersey-based developers, Kushner Real Estate Group (KRE) and Russo Development, has received a $71 million construction loan for a 345-unit apartment project in Rockaway, about 35 miles west of New York City. The property, which will be branded Rock Pointe, will offer a mix of one-, two- and three-bedroom units. Amenities will include a pool, tennis courts, an outdoor terrace with TVs and grilling stations, a game room, conference room and a dog run. City National Bank provided the construction financing in partnership with Provident Bank. The development team expects to begin leasing the property next fall.

October 28, 2020

85-New-Brunswick-Ave.-Woodbridge-New-Jersey

Development Industrial New Jersey Northeast

Woodmont Begins Vertical Construction of 101,425 SF Distribution Center in Woodbridge, New Jersey

by Taylor Williams October 28, 2020

WOODBRIDGE, N.J. — Locally based developer Woodmont Industrial Partners has begun vertical construction of a 101,425-square-foot distribution center at 85 New Brunswick Ave. in the Northern New Jersey city of Woodbridge. The property will offer proximity to State Routes 440 and 9, as well as the New Jersey Turnpike and Garden State Parkway. Building features will include 36-foot clear heights and 12 dock doors with the option to expand to 24. Woodmont acquired the site in July and expects to complete the project in the second quarter of next year. CBRE is handling leasing of the property.

October 28, 2020

Development New York Northeast Office

Fisher Brothers Completes $20M Renovation of 299 Park Avenue in Manhattan

by Taylor Williams October 28, 2020

NEW YORK CITY — Fisher Bros. has completed the $20 million renovation of 299 Park Avenue in Manhattan. The company partnered with Rockwell Group for the design of the project, which included upgrades to the lobby, elevators and exterior façade, as well as the addition of a digital art display. Fisher Bros. owns the 1.2 million-square-foot building and houses its office headquarters within the property.

October 28, 2020

Development Multifamily New Jersey Northeast

TFE Properties Delivers 117-Unit Luxe Apartments in Woodbridge, New Jersey

by Taylor Williams October 28, 2020

WOODBRIDGE, N.J. — New Jersey-based developer TFE Properties has delivered Luxe Apartments, a 117-unit multifamily community in the Northern New Jersey city of Woodbridge. The property is situated across from Woodbridge Center Mall and houses retail space on the first floor, office space on the second floor and residential units on floors three through nine. Units feature one- and two-bedroom floor plans and range in size from 706 to 1,286 square feet. Amenities include two fitness centers with spin and cycling studios, shared workspaces, a resident clubroom with various games and a package locker room. Rents start at $1,675 per month for a one-bedroom unit.

October 28, 2020

Development Life Sciences New York Northeast Office Top Stories

Taconic, Nuveen to Transform ABC’s Longtime New York City Headquarters into Life Sciences Space

by Kristin Harlow October 28, 2020

NEW YORK CITY — Taconic Partners and Nuveen Real Estate have unveiled plans to redevelop 125 West End Avenue into a life sciences and research building. Broadcaster ABC has occupied the property as part of its New York City headquarters since 1985 but plans to vacate in January 2021. Chrysler originally constructed the eight-story, 400,000-square-foot property in 1929 as an automotive facility. The New York Times is also a former owner and tenant. The building features floorplates of more than 50,000 square feet, ceiling heights ranging from 13 to 16 feet, multiple access points and views of the Hudson River. Taconic and Nuveen purchased the property in late 2019 for $230 million. Plans call for a mechanical plant, purpose-built lab infrastructure, a new façade, roof terrace and conference center. The developers are still evaluating options for the remainder of the site, which includes a six-story, 131,000-square-foot television studio building and a 1.2-acre development parcel. Construction is slated for completion in 2023. The project team includes architect Perkins+Will and engineer JB&B. The development will feature several environmental sustainability features and is on track to achieve LEED Gold certification. Estimated development costs were not disclosed, though LoanCore Capital did provide a $181 …

October 28, 2020

Development Industrial Midwest Ohio

Ashley Furniture to Invest $70M for Distribution Center in Suburban Columbus

by Kristin Harlow October 27, 2020

ETNA, OHIO — Ashley Furniture Industries Inc. has unveiled plans to build a new facility in Etna near Columbus. The furniture manufacturer says it will invest $70 million and create 300 new jobs. Hiring will begin in late 2021, once the building is completed. TPA Group is the developer and FCL Builders is the general contractor for the project. The new 1 million-square-foot facility, located at 70 Global Parkway, will serve as a regional distribution hub for e-commerce fulfillment and store shipments. “Providing access to nearly 50 percent of the U.S. population within a day’s drive, Etna’s location in central Ohio is a strategic choice for Ashley,” says Todd Wanek, president and CEO of the Arcadia, Wis.-based retailer. Ashley sells furniture in more than 20,000 storefronts in 155 countries.

October 27, 2020

Development Midwest Missouri Multifamily

City Club Apartments Opens 283-Unit Community in Kansas City’s Crossroads

by Kristin Harlow October 27, 2020

KANSAS CITY, MO. — City Club Apartments (CCA) has opened its newest community in Kansas City within the Crossroads neighborhood. The 283-unit, seven-story development also includes duplexes, townhouses and penthouses. There are 50 different floor plans. Amenities include a rooftop sky park, pool, outdoor theater, terrace club, concierge service and nearly 300 underground parking spaces. The first floor features DGX, a small retail store with grab-and-go salads, sandwiches, fresh produce and a selection of home and beauty products. Local restaurateur Howard Hanna plans to open two new concepts at the community in 2021. The combined 6,000-square-foot space will include a 2,000-square-foot wine bar and a 4,000-square-foot diner. Monthly rents start at $1,005 for studios. Residents can now receive up to three months of free rent on select units.

October 27, 2020

Development Industrial Northeast Pennsylvania

Hilco Reveals Redevelopment Plans for Former PES Refinery Site in Philadelphia

by Taylor Williams October 27, 2020

PHILADELPHIA — Hilco Redevelopment Partners, the real estate development unit of Hilco Global, has revealed plans for the remediation and repositioning of the 1,300-acre former refinery site of Philadelphia Energy Solutions (PES). The development will be known as The Bellwether District. The redevelopment plan includes the demolition of 105 onsite buildings, as well as hydrocarbon processing units, boiler rooms and wastewater treatment plants, to convert the site into a logistics hub that will house between 13 million and 15 million square feet of industrial space. The decommissioning and demolition plans also call for a significant amount of environmental cleanup work, including the removal of some 950 miles of pipeline and various pieces of infrastructure and equipment left behind at what was once the Northeast’s largest refinery.

October 27, 2020

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