Development

Moss Construction Completes 368-Unit Multifamily Community in Downtown St. Petersburg

by Alex Tostado January 30, 2020

ST. PETERSBURG, FLA. — Moss Construction has completed Icon Central, a 368-unit multifamily community in downtown St. Petersburg. The Related Group was the developer of the redevelopment project, which included updating the 94-year-old Union Trust Bank building. Moss Construction also added 15,000 square feet of retail space bringing the total to 19,000 square feet at the 15-story property. Unit sizes range from 542 to 1,470 square feet. Communal amenities include a pool, indoor fitness center, residence club, outdoor terrace on the eighth floor, spa and a virtual game simulator. Icon Central is situated at 855 Central Ave.

January 30, 2020

Development Georgia Multifamily Seniors Housing Southeast

McShane Starts Construction of 238-Unit Affordable Seniors Housing Community Near Atlanta

by Alex Tostado January 30, 2020

STONECREST, GA. — McShane Construction Co. has broken ground on Stonepointe, a 238-unit affordable seniors housing community in Stonecrest, approximately 15 miles east of Atlanta. Dominium is developing the four-story building on an 11.3-acre site. Construction is scheduled for completion in July 2021. Units are reserved for residents over age 55. The property will offer one- to three-bedroom floor plans. McShane is also performing site work for Stonepointe, including the construction of a 210-space parking lot. The architect of record is Martin Riley Associates.

January 30, 2020

Acquisitions California Development Healthcare Office Western

Boston Properties, Alexandria Real Estate to Develop 1.7 MSF Life Science Campus in South San Francisco

by Amy Works January 30, 2020

SOUTH SAN FRANCISCO, CALIF. — Boston Properties has entered into a joint venture with Alexandria Real Estate Equities to develop, own and operate approximately 1.1 million square feet of existing office and lab properties in South San Francisco. Additionally, the partnership will have an opportunity to expand the campus through approximately 640,000 square feet of future development. Upon completion of the master development plan, the joint venture expects to own a 1.7 million-square-foot life science campus, including a mix of office and lab buildings. Boston Properties and Alexandria will each have an approximately 50 percent ownership in the joint venture once complete. Under the agreement, Boston Properties contributed 601, 611 and 651 Gateway Blvd., three existing office properties that total approximately 768,000 square feet, plus developable land. Alexandria contributed approximately 313,000 square feet of existing properties, including lab, office and amenity buildings, as well as developable land.

January 30, 2020

California Development Industrial Western

Dedeaux Properties Acquires Land Site for 205,000 SF Industrial Project in Southern California

by Amy Works January 30, 2020

PERRIS, CALIF. — Dedeaux Properties has purchased an industrial-zoned, 9.6-acre land parcel, located at 5150 Walnut Ave. in Perris, for $2.2 million in an off-market transaction. The company plans to develop an industrial facility on the site. Cody Lerner and Stan Nowak of Avison Young’s Ontario, Calif., office represented the buyer and the seller, a private entity, in the deal. The planned 205,000-square-foot facility will include office space, 36-foot clear heights, 28 docks and parking for 42 trailers.

January 30, 2020

Development Retail Texas

Northwood Retail to Reposition 133,000 SF Prestonwood Place Retail Center in Metro Dallas

by Taylor Williams January 30, 2020

ADDISON, TEXAS — Northwood Retail will reposition Prestonwood Place, a 133,000-square-foot retail center located at the corner of Beltline and Montfort streets in Addison, a northern suburb of Dallas. The project will convert part of the center into 50,000 square feet of office space, upgrade building façades and add a 15,000-square-foot park. Additional improvements will include reconfigured parking lots, new pedestrian walkways and refreshed landscaping. Construction will occur in four phases, with the overall completion slated for early 2021. Northwood Retail is based in Dallas and is an affiliate of Northwood Investors, a privately held investment firm that was founded in 2006 by former Blackstone executive John Kukral.

January 30, 2020

Development Georgia Loans Office Southeast Top Stories

Dewberry Group Receives $186M Loan to Renovate, Expand Campanile Building in Midtown Atlanta

by Alex Tostado January 30, 2020

ATLANTA — Dewberry Group has released plans to expand the Campanile Building, an office and retail property in Midtown Atlanta, from 445,000 to 626,000 square feet. Upon completion, the renovated property will include new ground-level retail space, high-quality finishes, a renovated marble lobby and a modern façade. H.I.G. Realty Partners and Square Mile Capital Management LLC jointly originated a five-year, floating-rate, $186 million loan to finance the renovation and expansion. Originally built in 1987 as the headquarters for Bell South, Dewberry Group acquired the building in 2010. Dewberry Group will develop a 45,000-square-foot retail and restaurant building at the base of the existing asset. The company will also add four new floors of office space totaling 100,000 square feet. The property is situated at the corner of 14th and Peachtree streets, across from Colony Square and two blocks from Piedmont Park. “Midtown has seen a strong migration of high-quality tenants and the Dewberry Group will be delivering office space and amenities that will be attractive to companies seeking Class A office space in this central location,” says Michael Mestel, senior managing director of H.I.G. “We continue to seek out high quality investment opportunities in the Atlanta market, and the financing …

January 30, 2020

Development Mixed-Use North Carolina Southeast

Partnership to Develop Mixed-Use Space Within Research Triangle Park

by Alex Tostado January 29, 2020

RALEIGH, N.C. — Park Center East LLC, a partnership between KDC and Research Triangle Foundation of North Carolina, will develop Hub RTP within Research Triangle Park. Hub RTP will include 300-foot high buildings, the only high-rise buildings within Research Triangle Park. Phase I will be situated on 43 acres on the east side of the property and include the 1 million square feet of office space, as well as at least one hotel with up to 375 rooms, 850 residential units and 150,000 square feet of retail space. Future phases could total 6 million square feet. A timeline for completion was not disclosed.

January 29, 2020

Development Florida Multifamily Southeast

Moss Construction Completes 19-Story Multifamily Property in Downtown Miami’s Brickell District

by Alex Tostado January 29, 2020

MIAMI — Moss Construction has completed Maizon at Brickell, a 19-story, 262-unit multifamily property in downtown Miami. The property offers apartments ranging from 490 square feet to 1,234 square feet. Maizon at Brickell also features an attached parking garage, 15,000 square feet of retail space and 3,400 square feet of amenity and leasing space. RD Jones designed the amenity and public spaces to include a pool, fitness center, dog run and smart package lockers. ZOM Living was the developer, and MSA Architects designed the building.

January 29, 2020

Development Industrial North Carolina Southeast

M. David Properties Delivers 136,000 SF Industrial Building in North Charlotte

by Alex Tostado January 29, 2020

CHARLOTTE, N.C. — M. David Properties has delivered a 136,000-square-foot industrial building within SilverPark North in north Charlotte. The building is the first of three speculative properties to be delivered in the planned 300,000-square-foot park. The new building features a rear-loading configuration, 32-foot clear heights, 40 dock doors, two drive-in bays, ESFR sprinklers and additional storage for 35 trailers. Brad Cherry and Matthew Greer of JLL are marketing the building on behalf of M. David Properties to distribution and/or manufacturing users that could occupy 35,000 square feet or more.

January 29, 2020

Development Mixed-Use Multifamily New York Northeast

Lambrou, Bridges to Develop 218,000 SF City Harbor Mixed-Use Development in Ithaca, New York

by Alex Patton January 29, 2020

ITHACA, N.Y. — A partnership between Lambrou Real Estate and Bridges Development Group will develop City Harbor, a 218,000-square-foot mixed-use development in the Upstate New York city of Ithaca. The property will be located at 101 Pier Road, formerly the site of Johnson Boat Yard, on the southern shore of Finger Lake. A multifamily component of the project will feature 158,000 square feet of residential space with 156 one- and two-bedroom units, a fitness center, restaurant and other amenities. The project will also feature a 60,000-square-foot medical building and a 1,700-foot shoreline promenade. HOLT Architects is designing the project, and Edger Enterprises Inc. is the general contractor. The development team expects to break ground in May and to complete the first phase about 18 months later.

January 29, 2020

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