Development

San Francisco Planning Commission Approves 2.3 MSF Flower Mart Redevelopment Project

by Jeff Shaw July 23, 2019

SAN FRANCISCO — The San Francisco Planning Commission has unanimously approved plans to redevelop the historic Flower Mart in the city’s South of Market (SoMa) district as a 2.3 million-square-foot mixed-use property. Kilroy Realty Corp. (NYSE: KRC) is leading the development, which will preserve and update the 115,000-square-foot Flower Mart, while also adding 2.1 million square feet of creative office space, a 100,000-square-foot retail market hall and one acre of public open space. The project still requires approval from the San Francisco Board of Supervisors and the city’s mayor, which Kilroy hopes to receive by October. The project is the product of more than five years of negotiations and partnership between Kilroy Realty, the wholesale flower vendor community and the city. Kilroy expects to break ground in mid-2020 and deliver all phases by 2024. The Flower Mart vendors will be moved to an interim location during construction. “The Flower Mart Project represents the future of Central SoMa and San Francisco,” says John Kilroy, the developer’s chairman and CEO. “The project’s vibrant mix of uses, abundant neighborhood-serving retail and innovative work environments will make it the transformational hub that the city and the neighborhood need.” “This is one of the best …

July 23, 2019

Development Florida Multifamily Seniors Housing Southeast

Suffolk Breaks Ground on Seniors Housing Community in South Florida

by Alex Tostado July 22, 2019

ROYAL PALM BEACH, FLA. — Suffolk has broken ground on Inspired Living at Royal Palm Beach, a 106,562-square-foot facility that features 72 assisted living units and 32 memory care beds. The South Florida property will offer 58 studio units, 14 one-bedroom units and a 32-bed memory care center. Home Communities and Reichmann International are the co-developers, and Studio+ designed the freestanding facility. Suffolk expects construction to be complete by summer 2020.

July 22, 2019

Development Retail Texas

NewQuest Properties Breaks Ground on 143-Acre Entertainment Retail Project in Waco

by Taylor Williams July 22, 2019

WACO, TEXAS — Houston-based NewQuest Properties has broken ground on Cottonwood Creek Market, a 143-acre entertainment retail project in Waco. Located at the intersection of Interstate 35 and Loop 340, the development will span 285,000 square feet. A 14-screen Cinemark theater will anchor the project, and NewQuest is in talks to add a bowling and family dining concept, as well as a national retailer in golf entertainment. The opening is scheduled for spring 2020.

July 22, 2019

Development Massachusetts Mixed-Use Northeast

Fortis to Undertake Residential, Retail Redevelopment Project in Boston

by Alex Patton July 22, 2019

BOSTON — Fortis Property Group, a New York City-based developer, will undertake a redevelopment project in downtown Boston that will convert the Dock Square Garage into a residential and retail property. Current plans call for 210 condominium units and 8,000 square feet of ground-floor retail space. Fortis will build a six-story vertical addition for the residential component and will renovate and upgrade the existing retail space. Stantec Architects is handling design. Completion is slated for 2023.

July 22, 2019

Development New Jersey Northeast Office

Keeler Markwood to Develop Medical Office Building in White Plains, New York

by Alex Patton July 22, 2019

WHITE PLAINS, N.Y. — Locally based developer Keeler Markwood Group will build a new medical office building in downtown White Plains, about 25 miles north of Manhattan. The building will be situated in close proximity to White Plains Hospital and its future outpatient care facility. JLL will handle leasing of the property, which is expected to be complete in 2023. A groundbreaking date has not yet been established.

July 22, 2019

Development Hawaii Mixed-Use Multifamily Retail Seniors Housing Western

Highridge Costa to Break Ground on Multifamily Phase of Kulana Hale Project in Hawaii

by Amy Works July 22, 2019

KAPOLEI, HAWAII — Highridge Costa will hold a groundbreaking ceremony on Aug. 28 for the second phase of the $130 million Kulana Hale mixed-use affordable seniors housing and multifamily apartment project located at 1020 Wakea St. in Kapolei. Kulana Hale Phase II will feature a 13-story tower with 2,300 square feet of ground-floor retail space and 143 affordable apartments for low-income families. The second-phase tower will be built over a two-level concrete podium structure that will connect to the 154-unit first phase seniors housing tower to form a larger parking structure and podium deck. The third phase will include single-story retail space. Los Angeles-based Highridge Costa and Honolulu-based Coastal Rim Properties, owned by Franco Mola, are developing Kulana Hale jointly with support from nonprofit Hawaiian Community Development Board. SVA Architects designed the project, which Hawaiian Dredging Construction Co. is building. The development’s second phase will be financed with a combination of tax-exempt bonds, tax credit equity and a $17.9 million Rental Housing Revolving Fund Loan from the Hawaii Housing Finance and Development Corp. Citibank will be the construction lender and Royal Bank of Canada will be the tax credit investor.

July 22, 2019

Development Illinois Industrial Midwest

Conor Commercial Begins Development of 150,000 SF Spec Industrial Building in Prospect Heights, Illinois

by Kristin Harlow July 22, 2019

PROSPECT HEIGHTS, ILL. — Conor Commercial Real Estate has begun development of Executive Commerce Center in Prospect Heights. The 150,000-square-foot speculative industrial building will sit on 10 acres and feature a 32-foot clear height, 25 truck docks, two drive-in doors and parking for 165 cars. Completion is slated for the end of this year. McShane Construction Co. is the general contractor and Ware Malcomb is the architect. Denise Chaimovitz and Sean Sloan of Paine Wetzel are marketing the property for lease on behalf of Conor.

July 22, 2019

Development Industrial Iowa Midwest Self-Storage

StorageMart Expands Climate-Controlled Facility in Des Moines

by Kristin Harlow July 22, 2019

DES MOINES, IOWA — StorageMart has expanded its facility located at 1800 E. Army Post Road in Des Moines. The self-storage property now includes two climate-controlled buildings with 155 units. Both buildings feature large drive-in loading bays. StorageMart also expanded the office area, which now offers a variety of packing and moving supplies. The expanded facility also includes 25 additional boat, recreational vehicle and car parking spots on newly paved lots.

July 22, 2019

Development Industrial Midwest Ohio Top Stories

Amazon to Open Two 700,000 SF Fulfillment Centers in Ohio

by Taylor Williams July 22, 2019

AKRON AND ROSSFORD, OHIO — Amazon (NASDAQ: AMZN) will open two fulfillment centers in Ohio in a move that will bring more than 2,500 new jobs to the northern part of the state. The properties, each of which will span more than 700,000 square feet, will be located in Akron and Rossford, the latter being a suburb of Toledo. The developments will be the e-commerce giant’s seventh and eighth industrial assets in Ohio, and will be used to sort, pack and ship various items to customers in the region. According to the Akron Beacon Journal, the Akron facility will be developed at the site of the former Rolling Acres mall, which was recently foreclosed upon and demolished. Construction is scheduled to begin in September, the paper reports. Amazon did not disclose additional timelines for the openings of the centers. “Ohio has been a great place to do business, serve customers and create jobs,” says Alicia Boler Davis, Amazon’s vice president of global customer fulfillment. “We’re excited to grow our team in the Buckeye state, which now includes more than 8,500 Amazonians.” “Amazon continues to demonstrate confidence in the great workforce and e-commerce business climate we have in Ohio,” adds Ohio …

July 22, 2019

Lakeside-International-Office-Center-Flower-Mound-Texas

Development Office Texas

Realty Capital, Staubach Break Ground on 138,000 SF Office Project in Metro Dallas

by Taylor Williams July 19, 2019

FLOWER MOUND, TEXAS — A partnership between Irving-based Realty Capital and Dallas-based Staubach Capital has broken ground on Lakeside International Office Center, a 138,000-square-foot office project in the northern metroplex city of Flower Mound. The project will consist of a 120,000-square-foot building and an 18,000-square-foot building with amenities such as a tenant lounge, coffee bar and a trail system connecting to the nearby Shops at Lakeside. IntelliCentrics, a healthcare credentialing firm, has signed a 30,000-square-foot lease to become the property’s inaugural tenant. JLL’s Doug Carignan represented the tenant in the lease negotiations. BOKA Powell is the project architect, and Muckleroy & Falls is the general contractor. Completion is slated for the third quarter of 2020. JLL’s Cannon Camp and Chris Doggett will lead the marketing and leasing efforts for the property. Staubach Capital provided the equity financing, and First United Bank is providing the debt financing for the project.

July 19, 2019

Newer Posts

Older Posts