Development

Skender Completes Interior Construction of Equity Residential’s Chicago Office

by Kristin Harlow August 10, 2020

CHICAGO — Skender has completed interior construction of the 75,000-square-foot Chicago office of Equity Residential (NYSE: EQR), an owner, developer and manager of apartments. Equity occupies two floors at Two North Riverside and has private access to the building’s roof terrace, which Skender built out as part of the project. The renovated office space features a new atrium with connecting staircase; a mix of open workstations and private offices, conference rooms and board rooms; and new bathrooms. Skender collaborated with architect Partners by Design, owner’s representative JLL and engineering consultant ESD.

August 10, 2020

Development Georgia Office Southeast Top Stories

Trammell Crow Completes 345,000 SF, Transit-Served Office Building in Metro Atlanta

by Taylor Williams August 10, 2020

DUNWOODY, GA. — Dallas-based developer Trammell Crow Co. has completed Twelve24, a 345,000-square-foot office building located at 1224 Hammond Drive in Dunwoody, a suburb of Atlanta in the metro’s Central Perimeter submarket. The 16-story building features a skybridge with direct access to the Dunwoody MARTA Station. Twelve24 is also located adjacent to Perimeter Mall and in close proximity to Interstate 285 and State Route 400. In addition, Twelve24 houses 11,000 square feet of ground-floor retail space, 7,500 square feet of which is preleased to Iron Hill Brewery & Restaurant. Insight Global, a national staffing and services company, has leased approximately 72 percent of the office space as the anchor tenant. The building offers an amenity floor with a fully staffed, 10,000-square-foot fitness center, an indoor conference center, tenant lounge and a café. Outdoor amenities include a yoga lawn, multiple lounge areas and a covered outdoor conference center. According to a second-quarter report on the Atlanta office market from Colliers International, the Central Perimeter submarket has a direct vacancy rate of 14.7 percent and has seen more than 1 million square feet of positive absorption year-to-date. Trammell Crow is also working with Concord Hospitality Group to develop a 177-room Hyatt Place …

August 10, 2020

Colorado Development Industrial Leasing Activity Office Western

Subaru Signs 550,000 SF Build-to-Suit Lease With Majestic in Aurora, Colorado

by Amy Works August 7, 2020

AURORA, COLO. — Subaru of America has signed a long-term lease with Majestic Realty Co. for a 550,000-square-foot build-to-suit facility at Majestic Commercenter in Aurora. Located at the intersection of Interstate 70 and Tower Road, the master-planned park encompasses 1,600 acres. Subaru will relocate from a smaller existing location and expand into the new regional office, parts distribution and technical training center for its retail service technicians. Groundbreaking is scheduled for late 2020, with completion of Subaru’s full buildout and occupancy in late 2021. Constructed by Commerce Construction, Building 16 will feature 36-foot clear heights, 70-foot speed bays, 115 dock doors and signage fronting I-70. In addition to the Subaru development, Majestic Realty is developing a 32-acre retail complex at the park’s entrance. The retail component will offer space for up to 15 tenants, including at least one hotel. Earlier this year, Amazon signed a long-term lease agreement to occupy Building 15, a 702,000-square-foot facility, and Shamrock Foods purchased land at the park resulting in a 1.3 million-square-foot complex now under construction. Upon completion of these projects, Majestic Commercenter will feature more than 9 million square feet, valued at approximately $500 million.

August 7, 2020

Acquisitions California Development Industrial Western

Trammell Crow, CBRE Global Investors Buy 24-Acre Site in Silicon Valley for Industrial Development

by Amy Works August 7, 2020

MORGAN HILL, CALIF. — Trammell Crow Co. (TCC) and Los Angeles-based CBRE Global Investors have acquired a fully entitled, 24-acre land site within Morgan Hill Ranch Business Park in Morgan Hill. Terms of the transaction were not released. The buyers plan to develop up to 440,000 square feet of light industrial space across five Class A buildings at the site. Dallas-based TCC plans to submit a development application for the new project to the City of Morgan Hill during the third quarter. The intended project is consistent with the existing development agreement for the land.

August 7, 2020

Development Multifamily Northeast Pennsylvania Seniors Housing

Kendal Completes 60-Unit Seniors Housing Expansion Project in West Chester, Pennsylvania

by Taylor Williams August 7, 2020

WEST CHESTER, PA. — Pennsylvania-based Kendal Corp. has completed construction of Preston, an expansion of its Barclay Friends seniors housing community in West Chester, approximately 25 miles west of Philadelphia. Preston features 60 new apartments, including 20 for memory care services, across 61,000 square feet. The building was named after Dr. Ann Preston, a 19th century Quaker activist who was one of the first women in America to become a medical doctor.

August 7, 2020

Development Multifamily Texas

Gardner Capital Completes 96-Unit Provision at North Valentine Apartments Near Fort Worth

by Taylor Williams August 7, 2020

HURST, TEXAS — Gardner Capital, a family-owned private equity firm focused on the multifamily sector, has completed Provision at North Valentine, a 96-unit apartment community located in the northeastern Fort Worth suburb of Hurst. The property features one- and two-bedroom floor plans with granite countertops, breakfast bars and individual washers and dryers. Amenities include a pool, fitness center, onsite laundry facilities, outdoor grilling areas and a playground. Rents for one-bedroom units range from $361 to $789 per month, while rents for two-bedroom units range from $429 to $942 per month.

August 7, 2020

Development Healthcare Texas

MedCore Partners Breaks Ground on 25,200 SF Bedford Medical Plaza Near Fort Worth

by Taylor Williams August 7, 2020

BEDFORD, TEXAS — Healthcare developer MedCore Partners has broken ground on the 25,200-square-foot Bedford Medical Plaza, located at the northwest corner of Hospital Parkway and Parkview Lane near Fort Worth. The building will be situated on 3.1 acres near Texas Health Harris Methodist Hurst-Euless-Bedford Hospital and is 100 percent preleased to multiple local practices. An expected completion date was not released.

August 7, 2020

Development Industrial Midwest Missouri

Opus Breaks Ground on 13.5-Acre Industrial Development in Earth City, Missouri

by Kristin Harlow August 7, 2020

EARTH CITY, MO. — The Opus Group has broken ground on a 13.5-acre industrial development in Earth City, about 20 miles northwest of St. Louis. Johnstone Supply, a wholesale distributor of HVAC equipment, will occupy four acres with a new 45,000-square-foot headquarters and distribution center. Opus will also construct an 111,000-square-foot speculative industrial building on the remaining 9.5 acres. Johnstone’s space will include a training room and product showroom. The spec building will feature 139 car parking stalls, 27 dock positions and a clear height of 32 feet. Construction on both buildings is slated to begin this month with completion scheduled for spring 2021. Opus is the developer, design-builder, architect and engineer. Jake Corrigan and Vince Bajardi of Sansone Group will market the project for lease.

August 7, 2020

Development Industrial Kansas Midwest Top Stories

Urban Outfitters to Build $350M Distribution Center Near Kansas City

by Katie Sloan August 7, 2020

KANSAS CITY, KAN. — Urban Outfitters (Nasdaq: URBN) has announced plans to develop a $350 million omni-channel distribution center near Kansas City. The 880,000-square-foot development will be located on ancillary land owned by the Kansas Speedway in Wyandotte County, roughly 15 miles outside downtown Kansas City. The Philadelphia-based retailer is set to begin construction on the facility this fall with completion scheduled for early 2022. Documents obtained by The Kansas City Star identify Hillwood Development Co. as the developer for the project. Fort Worth, Texas-based Hillwood is led by Ross Perot Jr., son of the late Ross Perot, a billionaire who ran for president twice in the 1990s. Urban Outfitters selects the locations of its distribution centers based on a combination of factors, including location, available workforce and transportation infrastructure. Kansas City’s central location was cited as critical to the company’s distribution network. “Our priorities in identifying the home for our new omni-channel distribution center focused on people, and it was the quality of the local workforce and the commitment of their representatives in the state that convinced us this is the right place to be,” says Dave Ziel, chief development officer of Urban Outfitters. “This facility will be at the …

August 7, 2020

Development Florida Industrial Southeast

Amazon to Develop 600,000 SF Fulfillment Center, Last Mile Facility Near Tampa

by Alex Tostado August 6, 2020

TEMPLE TERRACE AND LUTZ, FLA. — Amazon will develop a 600,000-square-foot fulfillment center in Temple Terrace. The Seattle-based e-commerce giant expects the facility to open in 2021 and house 750 full-time employees. Employees at the site will pick, pack and ship smaller customer items such as books, electronics, small household goods and toys. In addition, Amazon will hire for roles in human resources, operations management, safety, security, finance and information technology. Temple Terrace is located 17 miles northeast of Tampa International Airport and 10 miles northeast of downtown Tampa. Additionally, Amazon plans to open a last-mile delivery center in Lutz, which is about 10 miles north of Temple Terrace, Fla. The Lutz delivery station is also anticipated to open in 2021.

August 6, 2020

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