Development

ShopRite Opens 70,000 SF Grocery Store at The Boulevard on Staten Island

by Taylor Williams October 7, 2020

NEW YORK CITY — ShopRite has opened a 70,000-square-foot grocery store at The Boulevard, a $200 million retail redevelopment project on Staten Island. Kimco Realty Corp. is leading the redevelopment of the 400,000-square-foot, open-air center, which will add retailers such as Marshalls, Ulta and PetSmart to its roster in 2021. The new ShopRite features specialty prepared foods from Valducci’s pizza, Loon Chuan Asian cuisine, Saladworks, Juice Press and Dunkin’ coffee, as well as onsite access to a registered dietitian and beauty consultant.

October 7, 2020

Development Georgia Mixed-Use Southeast Top Stories

Pinewood Atlanta Studios Rebrands, Unveils 935-Acre Master Development

by Kristin Harlow October 7, 2020

ATLANTA — Pinewood Atlanta Studios, home of blockbuster films such as Avengers: Endgame, has rebranded as Trilith Studios and unveiled a new 935-acre master development in South Atlanta. The project includes the studio as well as businesses, custom homes, “micro villages,” restaurants and schools, all aimed at servicing the film and creative industries. Plans call for more than 220,000 square feet of new spaces on the campus, including a “Creative Office Centre” designed to house content and technology companies as well as 60,000 square feet of stages with computer-generated production technologies. Trilith Development LLC says it “aims to connect business with lifestyle through a European-inspired town that serves as the development’s cultural center.” Construction on the walkable community began two years ago with plans to house 5,000 residents in 1,400 homes, including 600 multifamily units. Barleygarden Kitchen & Craft Bar is the first of 12 food concepts to complement the shops in Town Centre, a 270,000-square-foot retail development. Half of the project is dedicated to green space. Residents will have access to 15 miles of nature trails and 19 landscaped parks. Plans also call for Piedmont Wellness Center, The Forest School and a 60,000-square-foot fitness facility. The Georgia Film Academy …

October 7, 2020

Arizona Development Multifamily Seniors Housing Western

Ryan Cos. Breaks Ground on 248-Unit Clarendale Arcadia Seniors Housing Project in Phoenix

by Amy Works October 6, 2020

PHOENIX — Ryan Cos. has broken ground on Clarendale Arcadia, an independent living, assisted living and memory care community in Phoenix. The project is a joint venture between Harrison Street, LCS and Ryan. The partnership entered into a long-term ground lease with the landowner, LAKO. Located on six acres, the 347,346-square-foot community will feature 140 independent living apartments, 68 assisted living apartments and 40 memory care apartments. Independent living residences will range from 696 square feet to 1,692 square feet, and assisted living residences will range from 439 square feet to 1,315 square feet. Fifth Third Bank N.A. acted as administrative agent and lead arranger alongside Regions Bank as syndication agent to finance the project. The amount of the financing was not disclosed. Craig Coppola of The Coppola Cheney Group at Lee & Associates worked on behalf of the land lessor and Ryan Cos. to negotiate this transaction. According to a market study conducted by Moore Diversified Services, senior living is undersupplied in this area, and the nearby communities that exist were built, on average, in 1990. ORB Architecture LLC is the project architect. Thoma-Holec Design is the interior designer. Phase I is scheduled for completion in summer 2022, followed …

October 6, 2020

Glendale-Marriott-Residence-Inn-Glendale-CA

California Development Hospitality Western

R.D. Olson Development Completes 190,000 SF Glendale Marriott Residence Inn in California

by Amy Works October 6, 2020

GLENDALE, CALIF. — R.D. Olson Development and R.D. Olson Construction have completed Glendale Marriott Residence Inn, a five-story, mission-style hotel located at 199 N. Louise St. in Glendale. The 190,000-square-foot hotel offers 120 studios with king beds, 12 corner suites, six two-bedroom suites and seven Americans with Disabilities Act-compliant rooms, all with full kitchens. Hotel amenities include a fitness center; courtyard deck with pool and spa; large meeting room; complimentary Wi-Fi; 24-hour market; indoor and outdoor seating areas; and two levels of underground parking. Additionally, the hotel is located near Griffith Park, Hollywood, Dodger Stadium and other Los Angeles-area attractions. Project partners include WATG and SANDdesign.

October 6, 2020

Development Multifamily New Jersey Northeast

Prism Capital Begins Leasing Final Phase of 300-Unit Apartment Complex in West Orange, New Jersey

by Taylor Williams October 6, 2020

WEST ORANGE, N.J. — Prism Capital Partners has begun leasing the final phase of The Residences at Edison Lofts, a 300-unit apartment complex in West Orange, about 20 miles west of New York City. The property is part of the 21-acre Edison Village, which is a redevelopment of Thomas Edison’s historic Invention Factory and Commerce Center. Residential amenities include a 5,000-square-foot fitness center, heated indoor pool, 12,000-square-foot rooftop lounge, a café and concierge services.

October 6, 2020

California Development Multifamily Seniors Housing Western

Oakmont Opens 87-Unit Assisted Living Community in Torrance, California

by Amy Works October 5, 2020

TORRANCE, CALIF. — Oakmont Senior Living has opened Oakmont of Torrance, an assisted living and memory care community in the South Bay region of Los Angeles County. Oakmont of Torrance is the first of several Oakmont communities to open during the 2020 pandemic. Guests at the grand opening event were required to RSVP, wear masks, social distance and follow safety precautions. The 106,613-square-foot community sits on nearly two acres and features 55 assisted living units and 32 memory care units.

October 5, 2020

Development New York Northeast Office Retail

Reading International Unveils Tammany Hall Redevelopment in Manhattan

by Taylor Williams October 5, 2020

NEW YORK CITY — Reading International (NASDAQ: RDI), an international cinema and real estate firm, has unveiled the redevelopment of the historic Tammany Hall Building at 44 Union Square in Manhattan. The former 19th-century political hub is now a Class A building with 73,095 square feet of space that can be utilized for either office or retail usage. BKSK Architects designed the project, which included a restoration of the façade and the addition of a three-story glass and steel dome with 19-foot ceilings and views overlooking Union Square.

October 5, 2020

Development Industrial New Hampshire Northeast

Monahan Cos. to Develop 116,288 SF Warehouse in Exeter, New Hampshire

by Taylor Williams October 5, 2020

EXETER, N.H. — New Hampshire-based Monahan Cos. will develop a 116,288-square-foot warehouse within Garrison Glen Corporate Park in Exeter, located east of Manchester. The property will feature 40-foot clear heights and proximity to Interstate 95 and State Route 101. Approvals are in place, and construction is expected to last about nine months. Monahan also recently completed a 110,000-square-foot build-to-suit project for Gourmet Gift Baskets on an adjacent lot. Cushman & Wakefield is marketing the development.

October 5, 2020

Development Florida Loans Multifamily Southeast

Principal Real Estate Investors Provides $53.5M Construction Loan for Apartment Complex in Metro Miami

by Alex Tostado October 5, 2020

HIALEAH, FLA. — Principal Real Estate Investors has provided a $53.5 million construction loan for the residential portion of Pura Vida Hialeah. The borrower, Coral Rock Development Group, is developing the property, which also features 40,000 square feet of adjacent retail space. The apartment community, dubbed The Residences at Pura Vida, will feature 260 units spanning three eight-story buildings. One of the buildings will offer 11,000 square feet of ground-floor retail. The property will offer studio through three-bedroom floor plans, ranging from 538 to 1,099 square feet. Communal amenities will include a pool, gym, barbecue area, dog park, a biking center and 24-hour security staff. The developer expects to break ground in November and deliver the asset in early 2022. KAST Construction is the general contractor. The asset will be situated at 3051 W. 16th Ave., 13 miles northwest of downtown Miami. Pura Vida Hialeah began opening earlier this summer when Dollar Tree opened. InnovaCare Health will soon open in a 20,000-square-foot space. Construction of the retail portion began in April 2019.

October 5, 2020

Development Illinois Industrial Midwest

Principle Construction Completes 102,140 SF Spec Warehouse in Batavia, Illinois

by Kristin Harlow October 5, 2020

BATAVIA, ILL. — Principle Construction Corp. has completed a new 102,140-square-foot warehouse on behalf of developer Midwest Industrial Funds at 1100 N. Raddant Road in Batavia. The project includes 97,040 square feet of warehouse space and 5,100 square feet of office space. The building features 10 dock positions, two drive-in doors, 125 car parking spaces, LED lighting and a clear height of 30 feet. Harris Architects provided design services.

October 5, 2020

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