CHICAGO — McShane Construction Co. has completed the O’Hare Office Building in Chicago on behalf of developer GlenStar Properties. The 150,000-square-foot building sits on a 3.5-acre site near the Chicago O’Hare International Airport. The first three floors and part of the fourth encompass structured parking. Floors five through eight feature open-office areas. The total parking count is 628 spaces. Wright Heerema Architects designed the property.
OVERLAND PARK, KAN. AND BLUE SPRINGS, MO. — LANE4 Property Group has begun development of two senior living communities in metro Kanas City. Both facilities, expected to open in summer 2020, will be branded as Novel Place. One property will be situated at 95th Street and Metcalf Avenue in Overland Park, while the other will be located at Highway 40 and Highway 7 in Blue Springs. Each location will include 134 independent living units across three stories. Community amenities will include common areas, outdoor courtyards and fitness studios. Omaha-based NewStreet Properties LLC has joined LANE4 as an investment partner on both Novel Place properties. Davidson Architecture + Engineering and Centric General Contractors make up the project team. Academy Bank is providing construction financing for the Blue Springs location, while Security Bank is providing financing for Overland Park. Monthly rental rates are expected to start at $1,800, according to the Shawnee Mission Post.
BATAVIA, ILL. — FCL Builders has broken ground on a 150,838-square-foot speculative industrial building located at 1850 Fabyan Parkway in Batavia, a western suburb of Chicago. KRC Holdings LLC is the developer. Construction is expected to be completed before the second quarter of 2020. Kate Foxworth of Morken & Associates will market the property for lease.
FORT WORTH, TEXAS — Hillwood will develop two speculative industrial buildings totaling approximately 1.3 million square feet at its 26,000-acre AlllianceTexas development in Fort Worth. Alliance Center North 7 will offer 810,908 square feet in Fort Worth, and Alliance Northport 2 will total 459,762 square feet in Northlake. Both buildings are located in Denton County with direct access to Interstate 35 West. Hillwood will start construction on these new facilities in September, with completion scheduled for mid-2020. Both facilities will include 36-foot clear heights, cross-dock configuration, onsite trailer storage and adjacent land for expansion. In addition, the properties will offer proximity to Interstate 35, State Highway 114 and the ground hubs of FedEx and UPS.
HOUSTON — Commercial investment firm MLB Capital Partners has broken ground on its Houston Farmers Market redevelopment project. MLB Capital will upgrade the 77-year-old market to include modern infrastructure, climate-controlled spaces, shaded areas, restrooms, common seating areas, organized parking and traffic circulation, defined sidewalks, site landscaping and dedicated green spaces. Additionally, James Beard Award-winning chef and project consultant Chris Shepherd plans to develop a concept unique to the Houston Farmers Market. The market will maintain business operation throughout the redevelopment process. Clark Condon Associates, Studio RED Architects, Gunda Corp. and Arch-Con Construction have been named to the design and construction team. Project completion is slated for late 2020.
LOS ANGELES — San Francisco-based Carmel Partners has executed a lease with Whole Foods Market for an approximately 50,000-square-foot flagship grocery store at Cumulus District, an urban, mixed-use development located at 3321 La Cienega Blvd. in Los Angeles’ Westside neighborhood. Located at the corner of Jefferson and La Cienega boulevards, the transit-oriented development is slated to open in late 2020. When completed, Cumulus will feature 1,210 apartments, a one-acre public park and plaza and 100,000 square feet of grocery-anchored retail and restaurant space. Timothy Bower and Zachary Card of CBRE are handling the leasing efforts for Cumulus. Terms of the Whole Foods Market lease were not released.
ADDISON, ILL. — Logistics Property Co. (LPC) has acquired a 15-acre infill site in Addison within DuPage County. LPC plans to develop two industrial facilities totaling 274,855 square feet. Known as Swift & Lake, the site is situated on the southeast corner of Swift Road and Lake Street. Construction will commence immediately with delivery slated for the second quarter of 2020. Doug Pilcher of Cushman & Wakefield will market the properties for lease.
TEXAS CITY, TEXAS — Smart Living at Texas City LP (SLTC), a limited partnership controlled by developers Ronny Hecht and Avi Ron, has purchased 9.4 acres in Texas City for the development of a 234-unit apartment community. Designed by Ted Trout Architects, the Class A property will feature one-, two- and three-bedroom units with granite or quartz countertops and individual washers and dryers. Amenities will include a pool, fitness center, clubhouse with a kitchen and a dog park. Construction is scheduled to begin in October and be complete in the fourth quarter of 2020. Chris Bergmann Jr. of JLL represented the seller, First Baptist Church of Texas City, in the land acquisition.
STATE COLLEGE, PA. — CA Student Living has begun construction on HERE at State College, an $86 million, 227-unit student housing property located one block from Penn State University. The 12-story complex will feature more than 700 beds and house 30,000 square feet of retail space on the lower two levels. The general contractor is Missouri-based Brinkmann Constructors, and the architect is Shepley Bulfinch. HERE at State College is expected to open in fall 2020.
PITTSBURGH — A joint venture between Pinecrest and Cardinal Group has completed construction on The Bridge on Forbes, a 473-bed student housing property in Pittsburgh. The community offers fully furnished studio-, one-, two- and three-bedroom units to students attending the University of Pittsburgh, Carnegie Mellon University and Carlow University. Shared amenities include a 24-hour fitness center, an outdoor deck with grilling stations and fire pits, collaboration rooms, a coffee bar and lounge and retail space occupied by Arby’s and Bank of America. The property is fully leased for the upcoming academic year.
