Development

Logistics Property Co. to Break Ground on 1 MSF Spec Industrial Building in Metro Dallas

by Taylor Williams May 8, 2020

WILMER, TEXAS — Chicago-based developer Logistics Property Co. (LPC) will break ground in July on Building 3 at Southport Logistics Park in the southern Dallas suburb of Wilmer. Current plans call for Building 3 to span roughly 1 million square feet with the potential to be expanded to 1.2 million square feet. According to LPC, the project is the only speculative industrial development in the South Dallas submarket that is moving forward right now. Building features will include 40-foot clear heights, 300 trailer parking spaces and 650 automobile parking spaces. Delivery is slated for the first quarter of 2021. Southport Logistics Park is a 252-acre development located immediately east of Interstate 45 and the Union Pacific Intermodal, five miles south of Interstate 20 and thee miles south of a hub for FedEx Ground.

May 8, 2020

LogistiCenter-Speedway-North-Las-Vegas-NV

Development Industrial Leasing Activity Nevada Western

Dermody Properties Completes 251,800 SF Distribution Center in North Las Vegas

by Amy Works May 8, 2020

NORTH LAS VEGAS — Reno, Nev.-based Dermody Properties has completed the development of LogistiCenter at Speedway, a distribution center located at 6565 Nascar St. in North Las Vegas. Situated on 14 acres, LogistiCenter at Speedway features 251,800 square feet of distribution space and immediate access to Interstate 15 via the Speedway Boulevard off-ramp. Dialog Direct, a marketing company offering direct mail, print and fulfillment services, has leased 75,800 square feet at the facility. The remaining 176,600-square-foot space features a 32-foot clear height, 38 dock-high doors, six drive-in doors, a 135-foot truck court, an ESFR fire protection system and tilt-up concrete panel construction. The space is divisible from 31,800 square feet to 112,000 square feet.

May 8, 2020

Arizona Development Lee & Associates Multifamily Western

Pride Ventures Buys Development Site for 200-Unit Multifamily Asset in Mesa

by Amy Works May 8, 2020

MESA, ARIZ. — California-based Pride Ventures LLC II has purchased an approximately four-acre site, located at 1830 W. Main St. in Mesa. Sycamore Station Fund LLC sold the asset for $3.8 million. The property is Parcel 1 of Sycamore Station, a transit-oriented, mixed-use project currently underway. Pride Ventures plans to develop a 200-unit multifamily community at the site, which offers convenient access to the light rail train line on Main Street. Kimberly Rollins and Dallan Randall of the Commercial Properties / CORFAC International Multifamily team, along with Jeff Hays of the corporate services team and Tate Gunning of Commercial Properties Inc., represented the buyer. Lee & Associates represented the seller in the deal.

May 8, 2020

Development Industrial Nevada Western

LM Construction, Brass Cap Development Deliver 40,000 SF SanTico Industrial Complex in Las Vegas

by Amy Works May 8, 2020

LAS VEGAS — LM Construction and Brass Cap Development have completed SanTico, an industrial property located at 6425 Santa Margarita St. in Southwest Las Vegas. Situated on 2.5 acres, the facility features 40,000 square feet of industrial mid-bay space that can be divisible into two 20,000-square-foot spaces. LM Construction provided design, planning and construction for the project. Michael DeLew and Greg Pancirov of Realcomm Advisors are handling the leasing and sale of SanTico.

May 8, 2020

Development Loans Retail Washington Western

McBride Capital Arranges $7M Acquisition, Predevelopment Loan for Retail Center in Washington

by Amy Works May 8, 2020

VANCOUVER, WASH. — McBride Capital has arranged a $7 million acquisition and predevelopment loan for a proposed retail center in Vancouver’s Salmon Creek neighborhood. The non-recourse debt facility features a 12-month initial term with extension options, limited prepayment penalty and proceeds to cover predevelopment costs. Danny Natsch of McBride Capital placed the financing on behalf of an undisclosed borrower with a national bridge lender. The name of the grocery-anchored retail property and lender were not released.

May 8, 2020

Development Loans Multifamily Retail Washington Western

NorthMarq Arranges $45M in Opportunity Zone Equity for Multifamily Project in Seattle

by Amy Works May 7, 2020

SEATTLE — NorthMarq has secured $45 million in joint-venture equity through Bridge Investment Group for the development of 12th & Yesler, a multifamily property in Seattle. Jake Leibsohn and Ron Peterson of NorthMarq’s Seattle-based regional office secured the equity for the borrowers, Trent Development and Atlanta-based Hatteras Sky. Situated at the corner of 12th Avenue South and East Yesler Way, the property will feature 274 apartments in a mix of 37 studio units, 172 open one-bedroom layouts, 45 one-bedroom units, five live/work units and 15 two-bedroom layouts. Apartments will offer stainless steel appliances, quartz countertops, in-unit washers/dryers and air conditioning, among other amenities. Additionally, the property will feature 8,142 square feet of ground-floor retail space and 133 parking stalls. Community amenities will include a rooftop deck, community barbecues, a business center, community clubhouse, controlled access, bike storage and repair room and a dog wash area. The project is located in an Opportunity Zone, giving it certain tax advantages. The developers will also participate in Seattle’s Multifamily Tax Exemption program, under which 20 percent of the units (54 units) will be dedicated to workforce housing.

May 7, 2020

Development Office Texas

Gaedeke Group Reveals Plans for 414,000 SF Office Tower at Legacy West in Plano

by Taylor Williams May 7, 2020

PLANO, TEXAS — Dallas-based Gaedeke Group has revealed new plans for Two Legacy West, a 414,000-square-foot, 17-story office tower that will be located at the corner of Leadership Drive and the Sam Rayburn Tollway in Plano. Designed by Gensler, the building will be situated adjacent to the headquarters campuses of FedEx, Toyota and JPMorgan Chase. Amenities will include a market-style grocery, community park, game lounges and a wellness center with saunas and workout classrooms. In addition, Two Legacy West will feature convenience-oriented amenities such as a digital concierge, complimentary shuttle service to Legacy West and electric car charging stations. A covered walkway will connect the building to its counterpart, the 14-story, 308,000-square-foot One Legacy West. Completion is slated for 2022.

May 7, 2020

Development Healthcare Midwest Minnesota

Kraus-Anderson Completes Conversion of Former Kmart Store in Minnesota into Healthcare Space

by Kristin Harlow May 7, 2020

WINONA, MINN. — Kraus-Anderson has completed the conversion of an 86,000-square-foot former Kmart store in Winona into healthcare space. The building, located at 1122 U.S. Highway 61, is now part of Gundersen Health System’s Winona campus. The building had been vacant since 2014. Set to open May 18, the primary care clinic will offer family and internal medicine, pediatrics, women’s health and imaging services. The facility will also house physical and occupational therapy as well as an eye clinic. HSR Associates Inc. designed the project.

May 7, 2020

California Development Top Stories Western

Carmel Partners Plans 11-Acre Cumulus District Mixed-Use Development in Los Angeles

by Alex Tostado May 7, 2020

LOS ANGELES — Carmel Partners has unveiled its full plans for Cumulus District, an 11-acre mixed-use development in Los Angeles’ Baldwin Hills neighborhood. The centerpiece of the development will be a pair of multifamily buildings rising 31 stories and seven stories with a total of 1,210 units between them. The project is a redevelopment of a former Cumulus Media radio broadcast site. The property will also feature private underground parking for residents and 100,000 square feet of retail, with a 50,000-square-foot Whole Foods Market as the anchor. A one-acre park will connect the two main buildings. Amenities for residents include a 24-hour fitness center, skydeck, dog run, pet spa, co-working spaces, and multiple pools and spas. The 31-story building will offer 300 units ranging from studios to penthouses, while the seven-story building will offer 910 units. Cumulus District is located at 3333 S. La Cienega Blvd., adjacent to the Expo Line light rail, which connects the property to downtown Los Angeles and the beaches. In addition, major tech companies such as Apple and Sony Studios are located within three miles of the development. “The launch of the Cumulus District comes at an exciting time as Culver City and West Adams …

May 7, 2020

Civic Development Massachusetts Northeast

Watermark, Horizons for Homeless Children to Construct 140,000 SF Learning Center in Metro Boston

by Alex Patton May 6, 2020

ROXBURY, MASS. — A joint venture of Watermark Development Inc. and Horizons for Homeless Children will construct a 140,000-square-foot learning center in Roxbury, a southern suburb of Boston. Located at 1785 Columbus Ave., the center will serve 225 children ranging in age from two months to five years. Horizons, a nonprofit organization dedicated to improving the lives of young homeless children and their families, will use part of the building as its headquarters. The project is expected to bring approximately 400 new jobs to the area. Studio MLA Architects designed the project. Kaplan Construction will serve as the general contractor. Construction is expected to start later this spring and to be completed in early 2021.

May 6, 2020

Newer Posts

Older Posts