GAINESVILLE, VA. — Life Time Athletic has opened a 173,000-square-foot gym in Gainesville, about 40 miles west of Alexandria. The new property features a 123,000-square-foot building and a 50,000-square-foot outdoor oasis. This is Life Time’s 143rd location in North America and seventh in the northern Virginia/Maryland market. The new site is located at 13978 Promenade Commons St. and will house 270 employees.
ORLANDO, FLA. — Orlando’s City Council has approved the retail redevelopment and reposition One South Orange Building, which was built in the early 1900s. One Orange Development will lead efforts on the redesign, which will focus on 7,000 square feet of the ground floor retail space and deliver an updated canopy and glass wall system and outdoor lighting and signage. The project will also maintain the historic brick detailing from the original building’s design, as well as bringing in a Taco Bell Cantina, which will offer an open kitchen, appetizers and alcoholic beverages. JLL will handle leasing efforts.
DENVER — Shea Apartments, a division of Shea Properties, has opened Tangent Apartments, an apartment community located along Interstate 25 in Denver Tech Center. Located at 4300 S. Monaco St. in Denver, Tangent Apartments features 140 apartments in a mix of studio, one- and two-bedroom layouts, ranging in size from 566 square feet to 1,150 square feet. Interiors feature a modern design with granite countertops, wood-style flooring, stainless appliances and high-end finishes. On-site amenities includes a 24-hour fitness center, resort-style pool and spa, grilling stations, fire pits, resident lounge with pool table, and business center.
AUSTIN, TEXAS — Endeavor Real Estate Group and joint venture partner MetLife Investment Management have broken ground on The Quincy, a 30-story mixed-use tower that will be located in downtown Austin. The project will deliver 347 apartments across 19 floors, three floors of Class A office space totaling 77,540 square feet and 10,360 square feet of ground-floor retail space. Amenities will include a pool, exercise lawn, sports lounge, media room and a coworking space and business center, as well as a dog park, package lockers and an Uber pickup lounge. The Quincy is expected to open in early 2021.
FULSHEAR, TEXAS — MARCEL, a privately owned real estate firm based in The Woodlands, will develop Cross Creek Town Center, a 76,000-square-foot retail and office project in Fulshear, about 35 miles west of Houston. The development, completion of which is set for spring 2020, will include restaurant and entertainment space as part of its retail use.
WAUKESHA, WIS. — New Perspective Senior Living is developing a 173,000-square-foot facility in Waukesha. The new community will offer 94 independent living and assisted living apartments as well as 34 memory care apartments. An official groundbreaking ceremony will take place this spring, with completion slated for summer 2020. Amenities will include a two-story lobby and reception area, three dining venues, an indoor pool, wellness center, beauty salon, activity center, movie theater and dance hall. Residents can also take advantage of weekly housekeeping, activity transportation, on-site physical therapy and wellness services. For those requiring additional assistance, care will be available 24 hours per day.
UPPER MACUNGIE TOWNSHIP, PA. — Procida Funding has provided a $7 million construction loan for a townhome community in Upper Macungie Township. Located at Wrenfield 1230 Route 100 North, the $26 million project will consist of 98 market-rate, two- and three-story townhouse units with an average size of 2,264 square feet. Ashley Development Corp. will construct the community. The borrower was Lou Pektor.
AUSTIN, TEXAS — Capella Capital Partners will develop Arena Tower, a 450,000-square-foot office building in Austin. The 19-story, Class A property will be located near the site of the future Austin FC stadium just south of The Domain on the city’s north side. In addition to 35,000- to 50,000-square-foot floor plates, the property will feature four parking spaces per 1,000 square feet. Amenities will include a tenant lounge, fitness center with locker rooms, a juice bar and an outdoor yoga area. AQUILA Commercial will handle leasing of the project, which is slated for a first-quarter 2021 delivery.
SECANE, PA. — Marcus & Millichap has negotiated the $1.8 million sale of Ashland Terrace, a 27-unit multifamily building in Secane. Located at 711 Ashland Ave., the property consists of six, one-bedroom and 21, two-bedroom units. Clarke Talone, Andrew Townsend, Daniel Bernard and Ridge MacLaren of Marcus & Millichap’s Philadelphia office represented the seller, a private partnership, in the transaction. The buyer was a regional limited liability company.
MCKINNEY, TEXAS — On Tuesday, March 12, Houston-based Sentinel Capital will break ground on Phase I of McKinney National Business Park, an industrial project located approximately 30 miles north of Dallas. Phase I, which is expected to be complete during the third quarter, will deliver 75,250 square feet across two buildings. McKinney National Business Park will ultimately span 114-acres and be able to accommodate more than 1 million square feet of space. Lee & Associates will handle leasing of the project.
