SEATTLE — Developer Nitze-Stagen and Pinnacle Partners, an Opportunity Zone investment firm, have broken ground on Canton Lofts in Seattle’s historic Pioneer Square. The project is the city’s first Opportunity Zone development. The $30 million development will feature 80 units with transit accessibility and provide affordable, one-bedroom studios.
LIBERTY, MO. — LANE4 Property Group has unveiled plans to develop a three-building, speculative industrial project in Liberty known as Liberty Logistics Center. Situated on a 68-acre tract of land at Missouri Highway 69 and Liberty Parkway, the project is adjacent to the Ford assembly plant and visible from I-35. Construction is expected to begin within a month and the first building, spanning 741,000 square feet, is slated for completion in late 2020. The two smaller buildings will measure 80,000 and 132,000 square feet. The project will also include a retail portion known as Liberty Parkway Plaza, containing eight pad sites fronting I-35 and the industrial buildings. LANE4 serves as developer for the entire project and leasing agent for the retail component. Joe Orscheln of CBRE will market the industrial portion for lease. Davidson Architecture & Engineering is providing architectural and engineering services.
SAN JOSE, CALIF. — Z&L Properties has received $330 million in financing for the development of 188 West St. James, a two-tower condominium project in downtown San Jose. Brandon Roth, Charles Halladay and Taylor Gimian of JLL arranged the five-year, floating-rate construction loan with Mack Real Estate Credit Strategies for the borrower. Currently under construction, 188 West St. James will consist of 20- and 22-story towers totaling nearly 629,000 square feet of residential space, approximately 30,000 square feet of ground-floor retail space and more than 650 parking stalls. The 640 condominiums will feature kitchens equipped with stainless steel Bosch appliance packages, custom quartz countertops and white oak cabinetry, as well as bathrooms with custom floating vanities and porcelain tile flooring. Additionally, units will have hardwood flooring throughout the main living areas. Community amenities will include an outdoor pool, spa, grilling area, fitness center, business conference center, pet wash and clubroom with catering kitchen.
MENLO PARK, CALIF. — Palo Alto, Calif.-based Greenheart Land Co. has topped off Station 1300, a three-story, transit-oriented development in downtown Menlo Park. The development is located less than one block from the Menlo Park Caltrain station San Francisco-based BAR Architects designed the project, which will feature two Class A office buildings totaling 200,000 square feet; a 20,000-square-foot public plaza; 183 multifamily units; and approximately 28,000 square feet of ground-floor retail space. JETT Landscape Architecture & Design is serving as landscape architect. Todd Husak and Jon Moeller of CBRE’s Palo Alto office are the leasing agents for the office portion of the property.
GILBERT, ARIZ. — Dallas-based Leon Capital Group has started construction of Soltra at SanTan Village, a Class A multifamily community located at the intersection of SanTan Village Parkway and Ray Road in Gilbert. Situated on 14.2 acres, Soltra at SanTan Village will feature 380 apartments spread across six three- and four-story buildings. With a variety of floorplans, units will feature nine- and 10-foot ceilings, urban mudrooms, smart locks, walk-in showers and soaking tubs, quartz countertops, stainless steel appliances, wood-plank vinyl flooring and ample private garages. The first units are slated for delivery in early 2021. Community amenities will include a 1,900-square-foot, third-floor sky terrace with fully equipped chef’s kitchen; a private resident’s club and sports bar with kitchen and a multiscreen television wall; a “bark park” with pet spa and grooming station; two-tiered, negative-edge resort pool with swim-up hospitality and entertainment area; and private poolside cabanas. Additionally, the community will feature a two-story fitness and wellness center, a conference room and workspace, and a Luxor parcel reception kiosk. The project team includes McShane Construction Co., Todd & Associates, Sustainable Engineering Group and AndersonBaron. Brennan Ray of Birch & Cracchiolo served as zoning attorney, while Zach Pace of Phoenix Commercial Advisors …
ATLANTA — Selig Enterprises has secured $340 million in construction financing for 1105 West Peachtree, its three-tower, mixed-use development in Midtown Atlanta. The project will feature a 675,000-square-foot office tower, a 64-unit condominium tower, and a 178-room Epicurean Hotel. The towers will also house 25,000 square feet of ground-floor retail. The Blackstone Group Inc. provided the construction loan, partially financing the $530 million project. “We have been fortunate enough to already garner the attention of some prominent tenants in the market including the signing of Smith, Gambrell & Russell for five floors [of the office tower],” says Chris Ahrenkiel, executive vice president of Selig Development. “The preleasing activity allowed for strong finance and equity options and also warranted an increase in the building size to over 675,000 square feet — the single largest tower to start construction in Atlanta in more than a decade.” Selig is partnering with Mainsail Lodging & Development to build The Epicurean Atlanta hotel, which will operate under the Marriott Autograph Collection banner. The hotel will offer 178 rooms, a full-service culinary program, conference and event facilities, and an outdoor terrace on the ninth floor. 40 West 12th will offer condos ranging from $600,000 to $2.2 million, in …
FORT MYERS, FLA. — Catalyst Asset Management has broken ground on West End at City Walk, a 318-unit apartment complex in downtown Fort Myers. The community will be part of Catalyst’s City Walk mixed-use development that will include 108,000 square feet of retail and office space and a hotel. West End at City Walk will offer studio to two-bedroom floor plans, as well as 15,000 square feet of office space. Communal amenities will include a heated saltwater swimming pool, multiple outdoor kitchens with barbecue grills, fitness center, yoga room, e-lounge, conference room, coworking spaces, pet spa, an entertainment kitchen with indoor and outdoor dining areas and a covered terrace on the fifth floor. Catalyst expects to deliver West End at City Walk in late 2020. Hancock Bank and Iberia Bank provided construction financing. PDS Architecture is West End’s designer, and Brooks and Freund is the general contractor. ZRS Management LLC will provide leasing and property management services with preleasing expected to begin in December 2020.
SOUTHLAKE, TEXAS — Dallas-based design-build firm ARCO/Murray has completed a 650-unit self-storage facility in Southlake, a northern suburb of Fort Worth. The three-story facility spans 104,000 square feet and includes a 1,300-square-foot office space and an interior loading area. The developer was The Jenkins Organization, a self-storage firm based in Houston.
NEW YORK CITY — RAL Development Services (RAL) is underway on Zero Irving, a 240,000-square-foot Class A office building in the Midtown South neighborhood of Manhattan. The 21-story building features 176,000 square feet of office space across 14 floors, plus a street-level food hall, coworking spaces, event space and a technology training center designed to improve the skills of tenant employees. Bank OZK provided $120 million of construction financing to RAL and the developer entered a long-term ground lease with NYCEDC. RAL broke ground on the project this summer.
NEW YORK CITY — Wegmans Food Markets will open a 74,000-square-foot grocery store at the Brooklyn Navy Yard mixed-use development. The chain has garnered a cult following in the Northeast since it expanded from its original Rochester location in 1968 and now operates 100 stores, including 46 in New York. Eater New York reports that the new store will feature 350 varieties of cheese, a full-service bar and made-to-order meals at several hot and cold bars. The store is slated to open this weekend on Sunday, Oct. 27.