Development

ORLANDO, FLA. — Skanska USA will construct Health Jewett Orthopedic Institute, a two-building, 371,000-square-foot healthcare facility in downtown Orlando that will include a medical pavilion and outpatient surgery center. Construction is expected to cost $187 million., The development will feature an eight-story building with 75 in-patient rooms and 10 operating rooms, as well as an adjoining six-story medical office building with another 12 operating rooms and two floors of ambulatory services. EYP Architecture & Engineering designed the facility. The medical pavilion and outpatient surgery center are expected to deliver in 2022 and the rest of the center will open in 2023. The facility will be part of the OrlandoHealth network.

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SHEPHERDSVILLE, KY. — Atlanta-based Core5 Industrial Partners has broken ground on Bourbon Logistics Center 3, a 1 million-square-foot industrial facility in Shepherdsville. The property is being built on a speculative basis and will feature 40-foot clear heights, 750 parking spaces, 336 trailer spaces and the potential for three-sided dock loading. The facility will be the largest spec development in the history of the Louisville MSA, according to JLL. The previous record was held by another Core5 property, the adjacent Bourbon Logistics Center 1, which is 4,000 square feet smaller than its neighbor. Bourbon Logistics Center 3 is situated along Ky. Highway 245 near the Interstate 65 interchange and 23 miles south of Louisville Muhammad Ali International Airport. MacGregor Associates Architects designed the asset, and Mindel, Scott & Associates Inc. is the civil engineer. Powell Spears and Matt Hartlage of JLL will market the property on behalf of the owner. A timeline for completion was not disclosed.

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RICHARDSON, TEXAS —3D Development Partners, which has offices in Georgia, Tennessee and Texas, will build a 123-room hotel in the northeastern Dallas suburb of Richardson that will be operated under the Element by Westin brand. The hotel’s suites will feature full kitchens and spa-inspired bathrooms. Amenities will include a fitness center, pool and bike rental program. 3D Development is partnering with Missouri-based management firm Midas Hospitality on the project, which is expected to open this summer.

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BURLINGTON, N.J. — Lee & Associates has brokered the $110.5 million sale of a 116.8-acre industrial redevelopment site in the Southern New Jersey city of Burlington. The property currently houses a 1 million-square-foot warehouse that was previously occupied by the U.S. General Services Administration and will be decommissioned. The new ownership, a partnership between New York-based Clarion Partners and MRP Industrial, plans to build two Class A distribution centers on the site on a speculative basis. Bob Yoshimura, Joe Hill, Eric Mattson and Joe Hill Jr. of Lee & Associates represented the seller, Boston-based STAG Industrial, in the deal.  

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NEW YORK CITY — DH Property Holdings has broken ground on a 370,000-square-foot industrial project at 640 Columbia St. in Brooklyn. The site spans 4.5 acres and is located in the Red Hook waterfront district. The three-story building will feature 18- to 28-foot clear heights, 130-foot truck court depths, office space and parking for up to 184 vehicles. Ware Malcomb is the project architect; Suffolk Construction is the general contractor, and Bohler is the civil engineer. Completion is slated for the fourth quarter.

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BUFFALO, N.Y. — Locally based developer Sinatra & Co. has completed the redevelopment of Mid-City Apartments, a $15 million project that added 50 units and 12,000 square feet of commercial space to the supply in downtown Buffalo. The property was originally constructed as a storage building in 1916 and was subsequently renovated to allow for commercial and residential uses. Sinatra & Co. originally acquired the building in 2014.

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CHANDLER, ARIZ. — VanTrust Real Estate has completed the construction of Phase II at Chandler Corporate Center in Chandler. Situated on 12 acres at 4100 W. Chandler Blvd., the 118,000-square-foot speculative office building complements the property that was developed in the first phase. The first-phase building was leased to Allstate Insurance and subsequently sold to Strategic Office Partners in 2019. Designed by Butler Design Group of Phoenix, the building features a two-story glass entrance, 58,000-square-foot floor plates and an abundance of glass. Stevens-Leinweber Construction served as general contractor for the project, which Colliers International is marketing for lease.

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SPRING, TEXAS — Multifamily development and management firm Fein has opened Canopy at Springwoods Village, a 332-unit apartment community located within the $10 billion Springwoods Village mixed-use development in the northern Houston suburb of Spring. Designed by Steinberg Dickey Collaborative and built by Westchase Construction, the property offers one-, two- and three-bedroom units ranging in size from 552 to 1,705 square feet. Units are furnished with wood-style flooring, stone countertops, tile backsplashes, stainless steel appliances and individual washers and dryers. Amenities include a clubhouse with billiards and ping pong tables, a fitness center with yoga and spin studios, golf simulator room, library, conference room and a pool with sun shelves and cabanas. Residents also have access to a 1.5-acre lake with surrounding walking trails. Rents start at roughly $1,000 per month for a one-bedroom unit.  

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DALLAS — Convexity Properties has begun leasing Eastline Residences, a 28-story multifamily tower located at 6050 N. Central Expressway in the Park Cities neighborhood of Dallas. Units come in studio, one-, two- and three-bedroom floor plans and feature 10-foot ceilings and private balconies. Amenities include a rooftop pool with tanning ledges and cabanas, a sky lounge with seating areas and event spaces, a fitness center with indoor and outdoor yoga decks and 15,000 square feet of ground-floor retail space. Chicago-based Convexity delivered the 330-unit community in 2020, and move-ins are scheduled to begin in February. Information on starting rents was not disclosed.

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RICHMOND, VA. — Capital Square and Greystar have acquired 2.3 acres in Richmond’s Scott’s Addition neighborhood to develop a 350-unit multifamily community. The six-story complex will be situated within an opportunity zone and is expected to feature 380 parking spaces and 15,000 square feet of ground-level retail space. Capital Square is raising capital through CSRA/GS Opportunity Zone V LLC, a $32.4 million project-specific opportunity zone fund. The property will be located at 1601 Roseneath Road, three miles northwest of downtown Richmond. A timeline for completion was not disclosed. This is Capital Square’s fourth project in the Scott’s Addition opportunity zone.

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