Development

Chandler-Corporate-Center-II-Chandler-AZ

VanTrust Real Estate Begins Construction of 118,000 SF Chandler Corporate Center II in Arizona

by Amy Works February 28, 2020

CHANDLER, ARIZ. — VanTrust Real Estate has started construction on Chandler Corporate Center II, the second phase of its 26-acre business center in Chandler. Located at 4100 W. Chandler Blvd., the two-story, 118,000-square-foot office building will feature a two-story glass entrance enhanced with stone, wood and ceramic tile lobby finishes, along with integrated LED light fixtures. Designed by Butler Design Group, the building will consist of precast concrete perimeter bearing walls and steel frame super structures with 10- to 14-foot floor-to-floor heights. The property will be adjacent to Chandler Fashion Center and is easily accessible by nearby freeways. Slated for completion by September, the building will complement a similar building constructed in the first phase, which Allstate Insurance occupies. Future phases may include additional build-to-suit or speculative office and on-site retail space. Steven Leinweber is constructing the office project, which Colliers International is marketing.

February 28, 2020

Development Illinois Midwest Multifamily

Joseph J. Duffy Co. Begins Construction of Mixed-Income Apartment Community in Chicago

by Kristin Harlow February 28, 2020

CHICAGO — Joseph J. Duffy Co. has begun construction of a seven-story, mixed-income apartment community in Chicago’s Jefferson Park neighborhood. Nonprofit organization Full Circle Communities is the developer for the 75-unit building located at 5150 N. Northwest Highway. The project will provide housing for veterans, persons with disabilities and working families. Sixty of the units will be affordable and 15 will be market-rate. Amenities will include a community room, library, business center, picnic area, community garden, dog run and 40 parking spaces. The project is expected to receive LEED Silver certification upon completion. Cordogan, Clark & Associates is the project architect.

February 28, 2020

Development Michigan Midwest Multifamily

Bedrock Begins Pre-Leasing 35-Unit Multifamily Property in Detroit’s City Modern

by Kristin Harlow February 28, 2020

DETROIT — Bedrock has begun pre-leasing The Flats at 2660 John R. Street, the first of five market-rate multifamily properties to be located in City Modern, an 8.4-acre development in Detroit’s Brush Park neighborhood. The first property is home to 35 units, comprised of studios, one- and two-bedroom floor plans. Amenities include bicycle storage, dry cleaning lockers, a package delivery system and third-floor outdoor terrace. Move-ins will begin in April. Lorcan O’Herlihy Architects designed the property. Detroit-based Bedrock is a full-service real estate firm. Since its founding in 2011, the company and its affiliates have invested and committed over $5.6 billion to acquiring and developing more than 100 properties.

February 28, 2020

Development Louisiana Southeast Top Stories

Provident Realty Advisors Opens $85M Apartment Development in Downtown New Orleans

by Alex Patton February 28, 2020

NEW ORLEANS — Provident Realty Advisors, a Dallas-based developer, has opened Canal 1535, a 330-unit multifamily building in the central business district (CBD) of New Orleans. Canal 1535 features one- and two-bedroom apartments. Amenities include a fitness center, parking garage and heated swimming pool. The property is now leasing to new residents, with rents ranging from approximately $1,500 to $3,700. The total development cost is estimated at $85 million. The building is situated on Canal Street in the heart of New Orleans, near Tulane University Medical School and Louisiana State University School of Medicine. The property is located blocks from the French Quarter, the Mercedes-Benz Superdome and St. Louis Cemetery No. 2, and offers convenient access to public transportation via the Regional Transit Authority streetcar line. Julie Valley, asset manager at Provident, says that the building is intended to serve the growing workforce in the CBD, including native New Orleanians and those moving to the city for work. The economic outlook for 2020 is forecasting an additional 9,400 jobs in the city, an increase of 1.6 percent, according to New Orleans CityBusiness. — Alex Patton

February 28, 2020

Development Industrial Midwest Missouri

U.S. Capital Development Breaks Ground on 190,350 SF Spec Building Within Fenton Logistics Park in Missouri

by Kristin Harlow February 27, 2020

FENTON, MO. — U.S. Capital Development has broken ground on Building 7 within Fenton Logistics Park. The 190,350-square-foot building is designed for office, warehouse and manufacturing uses. It is slated for completion in the third quarter of this year. The spec building will feature a clear height of 28 feet, 46 trailer dock doors and more than 330 auto parking spaces. Impact Strategies is the general contractor. Since 2017, U.S. Capital Development has developed five buildings within the park, which is situated on the site of a former Chrysler assembly plant. Current tenants include BASF, BJC Medical Group, 1st Phorm, Nexius and Alkem Laboratories. Jon Hinds and Katie Haywood of CBRE market the park for lease.

February 27, 2020

Data Centers Development Industrial Office Top Stories

Google to Invest $10B This Year in Office, Data Centers Across the United States

by Alex Tostado February 27, 2020

MOUNTAIN VIEW, CALIF. — Google (Nasdaq: GOOGL) plans to invest $10 billion in office and data centers in 11 states this year that will create thousands of jobs. The 11 states will be Colorado, Georgia, Massachusetts, Nebraska, New York, Oklahoma, Ohio, Pennsylvania, Texas, Washington and California, according to Sundar Pichai, CEO of Google and its parent company, Alphabet Inc. In 2019, Mountain View-based Google announced it would invest $13 billion in major office and data center expansions in 14 states. Combined with other investments, Alphabet was the largest investor in the United States last year, according to the Progressive Policy Institute’s Investment Heroes 2019: Boosting U.S. Growth report. Data Centers Google plans to open or expand 13 data centers nationwide. Data center expansions in the South include locations in Georgia, Texas, Virginia, Alabama, South Carolina and Tennessee. In the Midwest, the company will open a new data center in Ohio and expand an existing center in Iowa. Nebraska and Oklahoma will see expanded data centers. Lastly, Google will expand data centers in Oregon and Nevada. Office Space Google plans to open new offices or expand its existing space in 19 communities. Google office expansions are slated for Minnesota, Wisconsin, Illinois …

February 27, 2020

Development Industrial Texas

Invesco, Perot Development Begin Work on Phase I of 2.4 MSF Industrial Project in Irving

by Taylor Williams February 26, 2020

IRVING, TEXAS — Invesco Real Estate and Perot Development Co. have begun construction on Phase I of DFW Park 161, an industrial project near DFW International Airport in Irving that will eventually offer 2.4 million square feet of space across 196 acres. Phase I will feature three logistics buildings totaling more than 1 million square feet that will be developed on a speculative basis. Phase II will involve a build-to-suit facility for an e-commerce user that will span more than 1.4 million square feet. The Phase I buildings are expected to be available for occupancy by early 2021. Halff Associates is the project architect and civil engineer, and Peinado Construction is the general contractor. First United Bank provided construction financing for the project, and Cushman & Wakefield is handling leasing.

February 26, 2020

Development Office Texas

MetroNational Breaks Ground on 190,000 SF Office Project in Uptown Houston

by Taylor Williams February 26, 2020

HOUSTON — Locally based investment and development firm MetroNational has broken ground on a 190,000-square-foot office project within a four-acre mixed-use development in Uptown Houston. Designed by Kirksey Architects, the Class A building will offer 21,000 square feet of leasable space per floor and will include 4,500 square feet of ground-floor retail and restaurant space. An expected completion date has not yet been determined.

February 26, 2020

Arizona Development Industrial Western

Tratt Properties Begins Development of 1.3 MSF Elwood Logistics Center in Arizona

by Amy Works February 26, 2020

GOODYEAR, ARIZ. — Phoenix-based Tratt Properties has broken ground on Elwood Logistics Center, a speculative industrial development located near the junction of Interstate 10 and the Loop 303 in a designated Opportunity Zone in Goodyear. At full build-out, Elwood Logistics Center will total 1.3 million square feet, including a 40-foot clear height, cross-dock building with a 190-foot gated and secured concrete truck court and 235 dock-high loading positions. The 83-acre site also provides parking for more than 1,400 cars and 327 trailers. Construction is currently underway, with completion slated for December. The Renaissance Co. is serving as general contractor, and Deutsch Architecture Group is providing architectural services. JLL is handling leasing for the property.

February 26, 2020

Arizona Development Multifamily Student Housing Western

Arizona State, Capstone Development Break Ground on $118 Million Mixed-Use Development in Downtown Phoenix

by Amy Works February 26, 2020

PHOENIX — A public-private partnership between Arizona State University and Capstone Development Partners has broken ground on a $118 million mixed-use development located within the university’s downtown Phoenix campus. The project — titled the Downtown Phoenix Residence Hall and Entrepreneurial Center — will feature 75,000 square feet of academic space in the form of design studios, flexible classroom space, fashion studios, fabrication labs, music practice rooms, recording studios and live event space. The 207,000-square-foot residential component of the community will house up to 530 students in two- and four-bedroom, apartment-style units. The design-build team for the project includes architect Studio Ma and general contractor DPR Construction. Development is scheduled for completion in fall 2021.

February 26, 2020

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