Development

Trademark Completes Renovation of 560,000 SF Shopping, Dining Destination in The Woodlands

by Taylor Williams April 22, 2019

THE WOODLANDS, TEXAS — Fort Worth-based Trademark Property Co. has completed the renovation of MARKET STREET — The Woodlands, a 560,000-square-foot shopping and dining destination located about 30 miles north of Houston. The eight-month project focused on the enhancement of common area spaces, including restaurant patios, pedestrian pathways and public restrooms. Landscaping upgrades were also implemented at the open-air property, which originally opened in 2004 and now includes hotel and office uses.

April 22, 2019

Development Retail Texas

CSW Development, USAA to Build Retail Center in San Antonio

by Taylor Williams April 22, 2019

SAN ANTONIO — A partnership between Austin-based CSW Development and San Antonio-based USAA Real Estate will hold a groundbreaking ceremony for La Cantera Heights, a new retail center in northwest San Antonio, on Wednesday, May 1. Construction of the first phase will begin immediately after the event. The current tenant roster, which will include restaurant, fitness and boutique retailers, will be announced at the ceremony. Alamo Architects is designing the project; Metropolitan Construction is serving as the general contractor, and JLL is handling leasing.

April 22, 2019

Arizona Development Industrial Western

Conor Commercial, Globe Corp. Assemble 18.8-Acre Land Parcel for Airport 40 Spec Industrial Project in Phoenix

by Amy Works April 22, 2019

PHOENIX — Conor Commercial Real Estate and Globe Corp. have assembled 18.8 acres within the Sky Harbor Airport submarket of Phoenix for the development of Airport 40, a 320,700-square-foot speculative industrial development. Construction is slated to begin in June, the two-building project will include Building 1, a 211,900-square-foot rear-load facility featuring 40 dock-high doors and six drive-in doors; and Building 2, a 108,800-square-foot property with 28 dock doors and four drive-in doors. Both buildings will feature 32-foot clear heights, built-to-suit office space, ample vehicle parking and 75 oversized truck trailer stalls. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield negotiated the purchase of the parcels in three separate transactions for a combined total of $8.1 million.

April 22, 2019

Development Hospitality Southeast Tennessee Top Stories

Congress Group, AECOM Capital to Develop $360M Four Seasons Hotel in Nashville

by Taylor Williams April 22, 2019

NASHVILLE, TENN. — A partnership between Boston-based developer The Congress Group Inc. and AECOM Capital will develop the Four Seasons Hotel and Private Residences, a $360 million project in Nashville. The property will comprise 232 hotel rooms, an undisclosed number of for-sale residential units, 10,000 square feet of retail space and a 368-space parking garage. Construction is slated to begin sometime during the second quarter of 2019. Located at 151 First Ave. South, the hotel will overlook the Cumberland River and offer immediate proximity to the Broadway entertainment district, as well as Nissan Stadium, home of the NFL’s Tennessee Titans. In addition, the hubs of four of the five largest employers in Nashville — including Pinnacle Financial Partners and Bridgestone — are located in close proximity to the hotel. Riaz Cassum, Danny Kaufman, Robyn King, Andrew Gray and Mary Dooley of HFF worked on behalf of the development team to arrange $360 million in debt and equity financing for the project. The lender and loan terms were not disclosed. “This transaction garnered strong interest from both lenders and equity investors via the strength of the sponsors and their vision for a world-class development on the best site in Nashville,” says …

April 22, 2019

Development Georgia Industrial Southeast

Chick-fil-A to Build First Company-Owned Distribution Center, Create 300 Jobs in North Georgia

by Alex Tostado April 19, 2019

CARTERSVILLE, GA. — Chick-fil-A will build its first company-owned distribution center in Cartersville, a project that will create about 300 jobs. The distribution center will open this summer as a pilot facility, serving as a learning lab while the full-scale center is being built. When the full-scale center is delivered at its expected date of summer 2020, it will serve 300 Chick-fil-A restaurants. The property will also house 300 employees with jobs including drivers, warehouse team members, leadership team members and administrative staff. Multiple media outlets report that Chick-fil-A D2 Services LLC paid $3.7 million for a 50-acre site near Cartersville Business Park, which is located about 45 miles north of downtown Atlanta.

April 19, 2019

Acquisitions Development Florida Mixed-Use Southeast

Joint Venture Acquires 11.3 Acres in Miami to Develop $36M Mixed-Use Project

by Alex Tostado April 19, 2019

MIAMI — A joint venture between ZOM Living, Scout Capital Partners and Mattoni Group has acquired 11.3 acres of Ludlam Trail in Miami. The developers will transform the unused train tracks into a six-mile, 100-foot wide trail that connects Miami International Airport and Dadeland Station, a three-story, 330,000-square-foot retail shopping center anchored by Target, Bed Bath & Beyond, Best Buy, Dick’s Sporting Goods, Michaels and PetSmart. The yet-to-be-named project will feature 950 rental units and 35,000 square feet of retail space. Construction on the first of three phases is expected to begin in the fourth quarter of 2019. The joint venture bought the land from Florida East Coast Industries. The design team includes San Antonio-based Lake Flato as the design architect and Miami-based MSA as the architect.

April 19, 2019

Development Multifamily Texas

Dakota Enterprises to Develop Two Apartment Communities Totaling 416 Units in Houston

by Taylor Williams April 19, 2019

HOUSTON — Workforce housing developer Dakota Enterprises will build two apartment communities totaling 416 units in Houston. Construction is underway on a 170-unit property within the Oak Forest area and Dakota will break ground on a 246-unit community in the Spring Branch area this fall. Dakota is also handling construction of each project. Iberia Bank provided financing for the Oak Forest property, which will offer a fitness center and a clubhouse and is expected to be complete during the second half of 2020. The Spring Branch property will feature a pool, fitness center and a clubhouse. Mucasey & Associates designed both projects.

April 19, 2019

Development Multifamily Seniors Housing Texas

ITEX Group Acquires Land for $11.8M Seniors Housing Project in Lufkin, Texas

by Taylor Williams April 19, 2019

LUFKIN, TEXAS — The ITEX Group, a Houston-based development and investment firm, has acquired land in Lufkin, located about 120 miles northeast of Houston, for the development of a 76-unit seniors housing project. The project, which will be branded Providence at Ted Trout, is valued at $11.8 million and is expected to be complete by year’s end. The property will be comprised of 48 one-bedroom units and 28 two-bedroom residences for seniors aged 55 and older.

April 19, 2019

California Development Loans Mixed-Use Multifamily Retail Western

HFF Arranges Joint Venture Equity for $320M Residential Development in San Francisco

by Amy Works April 19, 2019

SAN FRANCISCO — HFF has secured joint venture equity for the development of 1629 Market Street, a fully entitled multifamily project in San Francisco. Working on behalf of the developer, Strada Investment Group, HFF arranged a joint venture equity partnership with an affiliate of Stockbridge Capital Group for the $320 million project. 1629 Market Street will feature 420 apartments, averaging 732 square feet, and nearly 9,000 square feet of retail space situated within three mid-rise buildings that will share a sub-grade parking garage. Situated on 1.7 acres at the intersection of Van Ness Avenue and Market Street in San Francisco’s Mid-Market technology hub, the project is slated for completion in mid-2021. Scott Bales, Charles Halladay, Jordan Angel, Peter Yorck, Eric Bet and Nolan Moore of HFF represented the developer in the equity placement transaction.

April 19, 2019

Development Midwest Missouri Multifamily Seniors Housing

Tutera Nears Completion of $55M Senior Living Community in Kansas City

by Kristin Harlow April 19, 2019

KANSAS CITY, MO. — Tutera Senior Living & Health Care is nearing completion of the $55 million Tiffany Springs senior living community in Kansas City. Tutera expects the 172 independent living units to be available in June, followed by 89 memory care and assisted living units in July. Community amenities at the 289,000-square-foot property include a spa, pool, outdoor courtyard, yoga studio, art studio, theater room, chapel, dog wash, concierge services and multiple dining venues. The new community will be connected via a breezeway to a rehabilitation and healthcare center that will offer short-term rehabilitation services and extended stays. Nearing Staats Prelogar & Jones Architects, BHC Rhodes and Luke Draily Construction Co. make up the project team.

April 19, 2019

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