SEATTLE — Terreno Realty Corp. has completed the $15.9 million redevelopment of an industrial property located on Sixth Avenue South in Seattle. The redeveloped property consists of a newly renovated, 51,000-square-foot distribution facility on approximately 1.7 acres two miles from downtown Seattle. The asset is adjacent to Seattle’s Port and SoDo districts. Additionally, Terreno has executed a lease for 100 percent of the property with a leading manufacturer of electric vehicles.
HOUSTON — Locally based limited liability company 215 Westheimer LLC has broken ground on a 13,200-square-foot mixed-use project in Houston’s Montrose area. The first floor will feature retail and restaurant space, and the second floor will offer both traditional and medical office space. Identity Architects is designing the project, and Davis Commercial Real Estate is handling leasing. Construction is expected to be complete by the end of 2020.
TAMPA, FLA. — Tampa General Hospital and Kindred Healthcare have formed a joint venture to develop and operate a $35 million, 59-bed hospital in Tampa. The building will be located on West Kennedy Boulevard between Oregon and Willow avenues, two miles west of downtown Tampa and one mile west of the University of Tampa. The joint venture plans to break ground this summer with an expected completion date in fall 2021. Kindred will operate the day-to-day operations of the hospital. The developers expect to employ more than 140 people. The new inpatient rehabilitation hospital will care for adults recovering from conditions such as stroke, neurological disease, injury to the brain or spinal cord and other debilitating illnesses or injuries. The new facility will feature all private rooms and will also have a secured brain injury unit with private dining and a therapy gym.
DENHAM SPRINGS, LA. — Brookwood Properties LLC will open a 1,100-unit self-storage facility the first week of June in Denham Springs. The four-story building will span 130,000 square feet and offer climate-controlled units. The Baton Rouge, La.-based developer broke ground on the project in May 2019. Baton Rouge-based Rosehill Construction LLC is the general contractor. Buffalo, N.Y.-based Life Storage will manage the property upon completion. The facility is located at 100 Rushing Road, 15 miles east of downtown Baton Rouge. This will be Brookwood’s 50th facility in its portfolio.
FORT LAUDERDALE, FLA. — Berkadia has arranged a $9.1 million construction loan for The Forge, a 35-unit multifamily community within FATVillage in downtown Fort Lauderdale. The developer and borrower, Urban Street Development, expects to break ground this year and open the seven-story complex in late 2021. An undisclosed bank provided the loan at a 55 percent loan-to-value ratio. The Forge will offer one- and two-bedroom loft-style floor plans ranging from 781 to 1,350 square feet. Apartments will feature 12- to 14-foot ceilings, finished concrete floors, Bauhaus-inspired windows, open entertainment kitchens, quartz countertops and smart home technology. Community amenities will include a CrossFit-inspired gym, garage parking and shared access to the Foundry Loft’s pool deck next door. Additionally, the property is located one block away from the Fort Lauderdale’s Brightline/Virgin Trains Station, offering direct service to Miami and West Palm Beach. FATVillage (Flagler + Arts + Technology Village) is a neighborhood that includes dozens of eateries, markets, boutiques and galleries.
LISLE, ILL. — J.C. Anderson has completed a phased renovation project at Westwood of Lisle, located at 2441 and 2443 Warrenville Road in metro Chicago. Property owner Briar Meads Capital LLC hired J.C. Anderson to complete the capital improvement project, which consisted of renovating the office property’s two existing lobbies, fitness center, restrooms, tenant lounges, onsite deli and conference room. Wright Heerema Architects provided architectural services and NAI Hiffman provided project management services. The Class A office complex spans 296,486 square feet.
ELK GROVE, CALIF. — Seattle-based Amazon will open a 111,500-square-foot distribution center at 9501 Union Parkway in Elk Grove, approximately 15 miles southeast of Sacramento. Currently under construction, the $21.3 million project is slated to open later this year. Irvine, Calif.-based Panattoni is developing the facility with Sacramento-based Alston Construction serving as general contractor. Sacramento-based Fite Development Co. sold the 17-acre industrial site to Panattoni in December and construction for the 111,500-square-foot distribution center commenced in January.
OAKLEY, CALIF. — Highridge Costa Development Co. and SVA Architects Inc. have released plans for Twin Oaks Senior Residence, a mixed-use project in Oakley, located between Sacramento and the Bay Area. The three-story community will feature 98 one-bedroom and 32 two-bedroom units for people age 62 and older. Units are reserved for those earning between 50 percent and 80 percent of the area median income. The project will also include 5,667 square feet of street-fronting commercial space, 188 parking spaces and over 63,000 square feet of open space on the 5.85-acre site. The Oakley City Council approved the project in October 2019, and the development team expects to break ground the second half of 2020. A timeline for completion was not released. SVA and Highridge Costa are partnering on several high-profile affordable housing projects, including the $130 million Kulana Hale project in Hawaii.
ORLANDO, FLA. — Mill Creek Residential, a Florida-based developer, has broken ground on Modera Creative Village, a 292-unit luxury multifamily property in the Orlando. Located at 505 Chatham Ave., the eight-story midrise building will feature studio, one-, two- and three-bedroom units as well as 10,000 feet of ground-floor retail space. Amenities include a fitness center with a yoga area and classes, a pool and an outdoor courtyard lounge. Modera Creative Village is part of a master plan for the 68-acre Creative Village district of downtown Orlando. The project is a redevelopment of the former Amway Center sports and entertainment venue. The full development plans include multiple office, residential, retail, hotel and higher education projects. Modera Creative Village is adjacent to the Lynx Central railway station and the Downtown Recreation Complex at Sunshine Park. Other attractions include a range of museums, restaurants and retail centers, including the Bob Carr Theater, Dr. Phillips Performing Arts Center and several art galleries. “The momentum of Creative Village will produce a dynamic urban infill neighborhood with prime opportunity for immediate growth, and we’re excited to be a part of it,” says Eran Landry, vice president of development for Mill Creek Residential. First move-ins are anticipated …
SAN ANTONIO — Austin-based Sabot Development will build Elmira at Myrtle, a 325-unit multifamily project in San Antonio that will also contain 14,000 square feet of ground-floor retail and restaurant space. Plans currently call for an elevated pool in addition to other unspecified amenities. Gensler is the project architect, and Cadence McShane is the general contractor. Construction is expected to begin in the first quarter of 2021.