Development

Amazon Executive Says Company is ‘Beginning to Scale’ at HQ2 Campus in Northern Virginia

by John Nelson April 30, 2020

ARLINGTON, VA. — Amazon (Nasdaq: AMZN) is “beginning to scale” at its HQ2 campus underway in Arlington, according to Jay Carney, the company’s senior vice president of global corporate affairs. During a weekly webinar series conducted by Walker & Dunlop, Carney said the corporate campus, dubbed Met Park, is under construction and that the company is hiring in earnest, though he said it will “take some time” to reach the previously announced 25,000 goal. Carney, who was the former White House press secretary during President Barack Obama’s administration, led Amazon’s national HQ2 search in 2017 and 2018 to find a second home for the company outside of Seattle. The e-commerce giant ultimately chose both Northern Virginia and Long Island City in the Queens borough of New York City in late 2018, in addition to a 1 million-square-foot outpost in Nashville, Tenn. Amazon pulled out of its planned New York City location in early 2019. Clark Construction is the general contractor for the HQ2 campus, and JBG Smith is Amazon’s development partner, as well as its landlord for office space that Amazon is using in the rebranded National Landing district in Arlington’s Crystal City submarket. Carney said the company is not …

April 30, 2020

Development Illinois Midwest Multifamily

Hines Completes Development of 698-Unit Wolf Point East Apartment Tower in Chicago

by Kristin Harlow April 30, 2020

CHICAGO — Hines has completed the development of Wolf Point East, a 698-unit luxury apartment tower in Chicago. Units located on floors 41 through 55 are known as the Lake Collection. Monthly rents for these units range from $2,695 to $5,605, and residents will begin moving into the tower in mid-May. Units located on floors 56 through 58 comprise the Penthouse Collection. There are six units per floor that average 1,700 square feet. Residents will begin moving into the penthouses in July. For units located below floor 41, monthly rents range from $2,095 to $3,995. First move-ins for these units began in January. Wolf Point East’s amenity space spans three floors. Amenities include a full-floor fitness center as well as The Sports Club, which features social games, a golf lounge and swing simulator, an indoor pool and sundeck. Additional common areas can be found on the 40th floor, including a coworking space, an outdoor dog run, dining and entertaining spaces and a gathering space known as Mirror Lounge. Soucie Horner Ltd. served as the designer for the amenity interiors and model units. Pelli Clarke Pelli Architects, in partnership with Pappageorge Haymes Partners, designed Wolf Point East, which is located at …

April 30, 2020

Development Florida Industrial Office Southeast

Aerion Supersonic to Develop $300M Research and Development Campus on Florida’s Space Coast

by Alex Tostado April 29, 2020

MELBOURNE, FLA. — Aerion Supersonic has unveiled plans to develop Aerion Park, a future $300 million office campus in Melbourne. The property will span 60 acres at the Orlando Melbourne International Airport and form a new global headquarters and integrated campus for research, design, build and maintenance of the company’s supersonic aircraft. The company is relocating from Reno, Nev., and will break ground later this year. Aerion expects to create 675 jobs by 2026. At the new site, Aerion will build the AS2, the world’s first privately built supersonic jet.

April 29, 2020

Development Georgia Retail Southeast

Atlanta Developer to Build Virtual Golf Entertainment Concept in Metro Atlanta

by Alex Tostado April 29, 2020

ALPHARETTA, GA. — Neal Freeman will begin construction in May on Fairway Social, a golf and entertainment concept in Alpharetta. The 11,000-square-foot entertainment destination, Fairway Social, will be located in The Maxwell, a joint development between Mayfair Street Partners, LLC and The Providence Group of Georgia LLC. The Maxwell will include 44,000 square feet of retail, restaurant and office space, as well as 138 residential units. Seven sports simulators will offer virtual golfing on more than 80 notable courses, as well as provide simulated games for baseball, football, soccer, lacrosse, hockey, cricket and zombie dodgeball. The venue will also feature a section called Back Nine, which will have nine customizable holes on synthetic turf with synthetic sand traps, bridges and putting challenges. The indoor and outdoor bar area, named Par Bar, will be adjacent to seating for more than 80 diners in an area to be known as The Tee Room. There will also be an indoor-outdoor patio bar on the rooftop called Eagles Nest. The Maxwell is situated 25 miles north of downtown Atlanta.

April 29, 2020

Development Office Texas

KDC Tops Out JPMorgan Chase’s 540,000 SF Office Expansion Project at Legacy West in Plano

by Taylor Williams April 29, 2020

PLANO, TEXAS — Local developer KDC has topped out Phase II of an office expansion project for JPMorgan Chase at the Legacy West mixed-use development in Plano. The investment banking giant opted to take an additional 540,000 square feet in a build-to-suit project following the completion of its initial 1 million-square-foot campus at Legacy West in 2017. With the inclusion of the new 12-story tower, which is expected to be complete in May 2021, JPMorgan Chase will be able to grow its workforce by an additional 4,000 employees. Campus amenities include training and conference space, a food court, dining area and coffee shop, health and wellness center, childcare center and a bank branch. HKS served as the project architect for Phase II, and Balfour Beatty is the general contractor.

April 29, 2020

Development Illinois Midwest Office

Skender Completes Interior Construction of Mondelez International Headquarters in Chicago’s Fulton Market

by Kristin Harlow April 29, 2020

CHICAGO — Skender has completed interior construction of the 90,000-square-foot headquarters for Mondelez International in Chicago’s Fulton Market district. Mondelez, a global snacking company, is the anchor tenant at the new five-story building, which is located at 905 W. Fulton St. The office space features a café, two connecting stairwells, outdoor roof gardens, open workstations, private offices and conference rooms. Skender collaborated with design firms HPA and SCB as well as engineering consultant IMEG Corp.

April 29, 2020

Development Midwest Minnesota Multifamily

CEDARst Cos. to Develop 345-Unit Multifamily Complex in Minneapolis

by Kristin Harlow April 28, 2020

MINNEAPOLIS — CEDARst Cos. has completed the acquisition of two adjoining historic properties and a land site in the North Loop of Minneapolis. The acquisition includes an eight-story, 275,000-square-foot warehouse, a five-story, 108,000-square-foot warehouse and an adjacent 32,000-square-foot surface lot. The company plans to develop the site into a 345-unit multifamily complex known as 6th and 3rd after its location at 6th Avenue and 3rd Street. The project will resemble the developer’s plans at The Duffey Lofts, also in the North Loop area. The development will feature 42,000 square feet of retail space in addition to the apartment units. A 20,000-square-foot amenity space will include a rooftop ice skating rink. The rink will be converted to a soccer field or other uses in the summer. Other amenities will include a bowling alley, swimming pool and coworking center. CEDARst expects to break ground in the fourth quarter of this year, with completion slated for summer 2022. A consortium led by the Martin Falk Paper Co. sold the site for $21.1 million. Pat Minea and Dan Trebil of NorthMarq arranged acquisition financing through First Western Bank & Trust. Lamar Newburn of Lee & Associates represented CEDARst in the transaction.

April 28, 2020

Development Illinois Industrial Midwest

Conor Commercial to Develop 162,000 SF Industrial Facility in Palatine, Illinois

by Kristin Harlow April 28, 2020

PALATINE, ILL. — Conor Commercial Real Estate will develop a 162,000-square-foot industrial facility on behalf of a major e-commerce retailer in Palatine, a northwest suburb of Chicago. Amazon is the tenant, according to Crain’s Chicago Business. The build-to-suit distribution center will serve as a last-mile logistics facility. The project, initially planned as a speculative facility known as Northwest Commerce Center, has been adjusted to fit the tenant’s needs. It will feature 146,750 square feet of distribution and warehouse space and 15,250 square feet of office space. Other features include a clear height of 36 feet, 20 truck docks, 14 loading doors and a conveyor system. Completion is slated for October. McShane Construction Co. is the general contractor and Ware Malcomb is the architect.

April 28, 2020

Development Loans Multifamily Oregon Western

JLL Arranges Construction Financing for Alamo Manhattan’s Block 40 Multifamily Project in Portland

by Amy Works April 28, 2020

PORTLAND, ORE. — JLL Capital Markets has secured construction financing on behalf of Alamo Manhattan for the development of Block 40, a multifamily property in Portland’s South Waterfront neighborhood. Situated on a 1.6-acre site at 3838 S.W. Macadam Ave., Block 40 will consist of a seven- and eight-story, podium-style building offering 232 apartments. Units will be a mix of studio, one- and two-bedroom layouts averaging 724 square feet. The property will also feature 6,500 square feet of ground-floor retail space and 174 parking spaces. Community amenities will include a rooftop terrace with firepit, seating areas and televisions; courtyard with water fountain, fire pit, grilling area and seating areas; fitness center with Technogym; and a dog wash and dog park. Completion is slated for late 2021. Matt Benson and Charlie Watson of JLL Capital Markets arranged the financing for the developer, Alamo Manhattan. The financing amount was not released.

April 28, 2020

Development Multifamily New York Northeast

Rivington Co. Plans to Develop 50-Unit Multifamily Property in Brooklyn

by Alex Patton April 27, 2020

NEW YORK CITY — Rivington Co. plans to develop 21 Garden Street, a 50-unit multifamily property in the Bushwick neighborhood of Brooklyn. Rivington will redevelop an existing structure, formerly the home of a woodworking company that made custom furniture pieces and cabinetry, to construct the eight-story building. The property will include both affordable and market rate residences. DXA Studio will serve as the architect of the project. Construction is slated to complete in 2022.

April 27, 2020

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