Development

Eyzenberg & Co. Arranges $21.3M Construction Loan for Mixed-Use Development in Miami

by Alex Tostado April 14, 2020

MIAMI — Eyzenberg & Co. has arranged a $21.3 million construction loan for the Towers at Blue Lagoon, a planned mixed-use development featuring a multifamily community and hotel space. The borrower and developer, the Weiss Group of Cos., will build Phase I of the project to include 428 multifamily units across two buildings. The property will offer studio to three-bedroom floor plans. The master plan also includes two hotels. The site is located at 4865 NW 7th St., seven miles west of downtown Miami. Kobi Karp is designing the property’s multifamily component. Robert Ginsberg and David Eyzenberg of Eyzenberg & Co. arranged the loan on behalf of Weiss, which has owned the land since the 1970s.

April 14, 2020

Development Midwest Missouri Office

Desco Group, HDA Complete 36,000 SF Office Building in Frontenac, Missouri

by Kristin Harlow April 14, 2020

FRONTENAC, MO. — The Desco Group has completed the development of a 36,000-square-foot office building in Frontenac, about 15 miles west of St. Louis. HDA Architects designed the Class A property, which features an all-brick exterior. The three-story building will include retail space on its first floor. The project is part of a larger $80 million mixed-use development.

April 14, 2020

Development Industrial Kentucky Southeast

Molto Properties Breaks Ground on 324,012 SF Spec Industrial Building in Louisville

by Alex Tostado April 13, 2020

LOUISVILLE, KY. — Molto Properties has broken ground on a 324,012-square-foot industrial building within Renaissance South Business Park in Louisville. The new speculative building will be situated on 22.4 acres and will feature 36-foot clear heights, ESFR sprinklers, LED lighting, 2,760 square feet of speculative office space, 234 car parking spaces, 98 trailer park spaces, a loading area with 42 dock-high doors and four drive-in doors. Molto expects to deliver the facility by December. Kevin Grove and Doug Butcher with CBRE will be leading the leasing/selling efforts of this project. Paul Hemmer Co. is serving as the general contractor. Louisville Renaissance Zone Corp. is the main developer of Renaissance South Business Park, a 680-acre business park situated two miles from Louisville Muhammad Ali International Airport.

April 13, 2020

Development Healthcare Texas

MedCore Partners Breaks Ground on 29,600 SF Healthcare Project in Metro Austin

by Taylor Williams April 10, 2020

CEDAR PARK, TEXAS — MedCore Partners, a Dallas-based healthcare development and brokerage firm, has broken ground on Hill Country Medical Plaza, a 29,600-square-foot medical office project in the northern Austin suburb of Cedar Park. The two-story building will be located adjacent to a 93-bed hospital and is 77 percent preleased to tenants such as Texas Digestive Disease Consultants and Hill Country Endoscopy Center. Felder Group Architects is designing the project, and IE2 Construction Inc. is the general contractor. Completion is slated for October.

April 10, 2020

Development Illinois Midwest Multifamily Seniors Housing

Holland Construction Services Underway on 149-Unit Senior Living Community Near St. Louis

by Kristin Harlow April 10, 2020

O’FALLON, ILL. — Holland Construction Services is underway on a $39 million senior living community known as Keystone Place at Richland Creek in O’Fallon, about 20 miles east of St. Louis. Upon completion, the four-story building will offer 64 independent living units, 66 assisted living units and 19 memory care units. There will also be one guest suite. The five-acre development will also feature a memory garden and a courtyard. Keystone Senior Management Services Inc. is the developer. Completion is slated for early 2021. The project is being constructed next to Parkway Lakeside Apartments, which Holland built several years ago.

April 10, 2020

Development Florida Loans Multifamily Southeast

NKF Arranges $16.1M Construction Loan for Multifamily Community in Metro Tampa

by Alex Tostado April 9, 2020

ST. PETERSBURG, FLA. — Newmark Knight Frank (NKF) has arranged a $16.1 million construction loan for Gallery 3100, a planned 122-unit, four-story multifamily community in St. Petersburg. The borrower, a joint venture between Mosaic Development LLC and The Brookview Cos., plan to complete the project by spring 2021. Gallery 3100 will feature one- and two-bedroom floor plans ranging in size from 663 to 1,098 square feet. The community will also offer 17 workforce housing units. Matthew Williams and James Maynard of NKF arranged the loan through Synovus Bank.

April 9, 2020

Development Florida Industrial Self-Storage Southeast

Cedarwood Development Completes 787-Unit Self-Storage Facility in Orlando

by Alex Tostado April 9, 2020

ORLANDO, FLA. — Cedarwood Development has completed a 787-unit, 117,000-square-foot self-storage facility for operator US Storage Centers in Orlando. The property features climate-controlled units, passenger elevators, moving carts, 24-hour video surveillance and moving supplies. The property is situated at 930 Sligh Blvd., a mile south of downtown Orlando. Orange, Calif.-based US Storage Centers, which operates more than 9 million square feet of self-storage space in the U.S., will manage the property. Fairlawn, Ohio-based Cedarwood Development is an affiliate of Cedarwood Cos.

April 9, 2020

Development Illinois Industrial Midwest

Meridian Design Build Completes Construction of 84,000 SF Meat Processing Facility in Chicago

by Kristin Harlow April 9, 2020

CHICAGO — Meridian Design Build has completed construction of an 84,000-square-foot USDA meat processing facility for Amylu Foods within Chicago’s Stockyards Industrial Park at 1400 W. 44th St. Amylu has relocated from its West Loop plant, where it operated for more than 95 years. The new sausage processing plant includes 56,000 square feet of production and cold storage space, a freezer, a 16,500-square-foot office space, a test kitchen and laboratory space. Meridian also installed an expandable ammonia refrigeration plant for cooling and production loads. Harris Architects and Kimley-Horn made up the project team.

April 9, 2020

Development Illinois Midwest Office Retail

Skender Tops Out Construction for Build-to-Suit Project in Chicago’s Fulton Market

by Kristin Harlow April 9, 2020

CHICAGO — Skender has topped out construction of a 45,000-square-foot office and retail building located at 1100 W. Fulton St. in Chicago’s Fulton Market district. An existing building at the site has landmark status from the city of Chicago and Skender will preserve its existing façade on the north, south and east sides of the building. Fulton St. Cos. is the developer. Herman Miller, a furniture company based in Michigan, will occupy the build-to-suit project and relocate from its existing Chicago headquarters in the Merchandise Mart. Skender will also complete the interior build-out of the showroom and office space. Completion is slated for December. Hartshorne Plunkard, CBRE and ConopCo Project Management make up the project team.

April 9, 2020

Development New York Northeast

GPC, National Resources to Construct $100M Film Production Facility for Lionsgate in Yonkers, New York

by Alex Patton April 9, 2020

YONKERS, N.Y. — A partnership of United Kingdom-based Great Point Capital Management and Connecticut-based National Resources will construct a $100 million film production facility for Lionsgate in Yonkers, a northern suburb of New York City. Located in the i.Park Hudson technology and office campus, the facility will feature 70,000 square feet of studio space as well as additional office space. CIT Group recently provided a $40 million construction loan for the project. Construction will begin soon, and the facility is expected to be at least partially operational by the end of the year.

April 9, 2020

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