Development

Meridian Breaks Ground on 84,000 SF Meat Processing Facility in Chicago

by Kristin Harlow April 11, 2019

CHICAGO — Meridian Design Build has broken ground on an 84,000-square-foot USDA meat processing plant for Amylu Foods in Chicago’s Stockyards Industrial Park. The new sausage processing facility will include 56,000 square feet of production and cold-storage space and a freezer. The property will also include 16,500 square feet of corporate office space, including separate raw and cooked facilities, test kitchens and a laboratory. An expandable ammonia refrigeration plant will accommodate plant cooling and production loads. Harris Architects and Kimley-Horn make up the project team.

April 11, 2019

Development Illinois Midwest Retail

Woodmont Co. to Develop 15,000 SF Retail Center in Grayslake, Illinois

by Kristin Harlow April 11, 2019

GRAYSLAKE, ILL. — The Woodmont Company has unveiled plans to develop a 15,000-square-foot retail center in Grayslake, about 50 miles north of downtown Chicago. Known as Washington & Barron Commons, the four-building property will be situated at the corner of Washington Street and Barron Boulevard. Construction on Phase I is expected to begin this summer. Phase I will include a 9,000-square-foot building for Kiddie Academy and a 4,500-square-foot single-tenant building. Phase II will include an 8,000-square-foot multi-tenant building as well as a 3,000-square-foot single-tenant building. Grant Gary and Robert Snider of Woodmont will market the property for lease.

April 11, 2019

California Development Loans Multifamily Western

PCCP Provides $145M Loan for Development of 442-Unit Multifamily Asset in San Diego

by Amy Works April 11, 2019

SAN DIEGO — PCCP has funded a $145 million senior loan to Sunroad Enterprises for the development of Sunroad Centrum Phase 6, a seven-story, Class A multifamily community in the Kearny Mesa neighborhood of San Diego. The 442-unit project is the final phase of the 24-acre Centrum master plan, which includes more than 800 multifamily units and an 11-story office tower. The new multifamily property will feature a 4,200-square-foot, two-level fitness center, pool, spa, rooftop bar with grill area and outdoor televisions, business center lounge, conference rooms, wine room with outdoor patio, game room and pet-grooming center. Aldon Cole, Tim Wright and Bharat Madan of HFF’s San Diego office arranged the financing.

April 11, 2019

California Development Loans Multifamily Western

Oakdale Communities Receives $83M Construction Loan for 300-Unit Multifamily Property in Sacramento

by Amy Works April 11, 2019

SACRAMENTO — Houston-based Oakdale Communities has received an $83 million loan for the development of The Core Natomas, an apartment complex in Sacramento. Located at 2705 Orchard Lane, the 300-unit, village-style community will feature 13 two- and three-story buildings offering one-, two- and three-bedroom layouts. On-site amenities will include a clubhouse, resort-style swimming pool, fitness center and outdoor kitchens. Construction is slated to begin in May. Kevin Randles, Angelica Heath, Jim Richards and Susan Speer of CBRE arranged the financing, which represents 90 percent of total needed project capital. William Ayres, also of CBRE, brokered the acquisition of the land site.

April 11, 2019

Development Hawaii Hospitality Western

Ike Place Hotels, R.D. Olson Begin Construction of AC Hotel Wailea in Hawaii

by Amy Works April 11, 2019

WAILEA, HAWAII — Ike Place Hotels and R.D. Olson Construction have started the ground-up construction of AC Hotel Wailea, a four-story estate hotel located at the corner of Wailea Ike Place and Wailea Ike Drive in Wailea. Situated on three acres, the 70,000-square-foot property will feature 110 guestrooms including one-bedroom suites and studio options, a business center, fitness area and infinity-edge pool with a poolside tiki bar and cabanas. The property will features a Polynesian design with modern flare and offer guests ocean-view and mountain-view room options with private lanais. Additionally, the property will feature indoor/outdoor lounge spaces and an 85-car parking lot. The project team includes R.D. Olson Development, Architects Hawaii Limited and SAND Design. Completion is slated for fall 2020.

April 11, 2019

Development Industrial Texas

CT Realty Begins Construction of 882,565 SF Logistics Center at AllianceTexas in Fort Worth

by Taylor Williams April 11, 2019

FORT WORTH, TEXAS — CT Realty has begun construction of Westport Logistics Center, an 882,565-square-foot industrial project located within the Alliance submarket of Fort Worth. The facility, which is being developed in a joint venture with Mitsubishi’s Diamond Realty Investments, will be situated within a mile of Interstate 35 and adjacent to Fort Worth Alliance Airport, as well as the BNSF intermodal railway. The project will consist of two buildings in either single-sided or cross-dock configurations, with 32- and 36-foot clear heights, 185-foot truck courts and build-to-suit office spaces. Completion is slated for the fourth quarter. Westport Logistics Center is CT Realty’s fourth major industrial development in the DFW metroplex.

April 11, 2019

Development Hospitality Texas

Cadence McShane Completes Dual-Branded Best Western Hotel in Austin

by Taylor Williams April 11, 2019

AUSTIN, TEXAS — Cadence McShane Construction Co. has completed an 86-room, dual-branded Best Western Plus and Executive Residency by Best Western hotel in Austin. The four-story property is located near the downtown area and features kitchenettes for extended-stay experiences in select rooms. Shared amenities among the two brands include a pool, fitness center and a gaming lawn. Local firm TAG International served as the project architect, and 28 Hospitality LLC will operate the hotel.

April 11, 2019

Development Indiana Industrial Midwest Top Stories

Brightmark Energy Receives $260M Financing for Plastics-to-Fuel Plant in Indiana

by Alex Tostado April 11, 2019

ASHLEY, IND. — Brightmark Energy has received $260 million in financing to build the nation’s first commercial-scale plastics-to-fuel plant in Ashley, a small town of fewer than 1,000 residents in the northeast corner of Indiana. The financing includes $185 million in Indiana green bonds, which were underwritten by Goldman Sachs & Co. Brightmark plans to invest $47 million in the plant, according to KPC News, a local news outlet. Brightmark is the controlling owner of RES Polyflow, an Ohio-based energy technology company that innovated the process for converting plastics directly into transportation fuel and other products. Brightmark acquired a majority interest in the company in November. Brightmark Energy Ashley Indiana will convert up to 100,000 tons of plastics into 18 million gallons per year of ultra-low-sulfur diesel and naphtha blend fuels and nearly 6 million gallons a year of commercial-grade wax in a process that is expected to be 93 percent efficient. The outputs could also be used to produce the feedstocks necessary for manufacturing plastic again, “thus creating the world’s first truly circular economy technology for plastics,” according to Brightmark. “We are excited about the market’s confidence in the validity of this technology to economically convert single-use plastics for …

April 11, 2019

Development District of Columbia Multifamily Southeast

Joint Venture Breaks Ground on Residential Component of 3.1 MSF Mixed-Use Project in D.C.

by Alex Tostado April 10, 2019

WASHINGTON, D.C. — Urban Atlantic, Hines and Triden Development Group have broken ground on The Vale apartments and The Brooks condominiums at The Parks at Walter Reed in Washington, D.C. The Vale will be situated on a 2.3-acre site along Georgia Avenue and comprise 301 apartments and 18,300 square feet of retail space. PGIM Real Estate, the real estate investment management business of Prudential Financial Inc., will join the joint venture for developing the asset. Capital One provided construction financing for The Vale. The Brooks will be built on the adjoining half-acre site and will offer 89 units. Grosvenor Americas provided construction financing for The Brooks. The ground breaking is the first phase of construction for The Parks at Walter Reed, which will feature 150,000 square feet of grocery-anchored retail space; 1,200 residential units, including 432 affordable units; office space; parks; two foreign language immersion charter schools; and ambulatory care by Howard University. More than $300 million has been invested in the 66-acre campus, which is being developed in a public-private partnership with The District of Columbia.

April 10, 2019

Development Georgia Hospitality Southeast

Blur Workshop to Lead $25M Renovation of North Georgia Winery, Resort

by Alex Tostado April 10, 2019

BRASELTON, GA. — Chateau Elan Winery & Resort will undergo a $25 million renovation, which is scheduled for completion in November. Atlanta-based Blur Workshop will lead the transformation, which will introduce a modern design while delivering a Southern concept with French undertones. The renovation will overhaul 251 guestrooms, 24 suites, the resort lobby, winery and four new food and beverage vendors. An affiliate of Connecticut-based Wheelock Street Capital bought the winery in January 2018. Chateau Elan is situated 46 miles northeast of Atlanta and offers guests 40,000 square feet of meeting space, a 35,000-square-foot spa, 45 holes of golf and a tennis center.

April 10, 2019

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