TRINITY, FLA. — A partnership between two developers, Alabama-based Blackwater Real Estate and Tennessee-based Hutton, has completed The Village at Mitchell Ranch, a 161,000-square-foot shopping center near Tampa. A 30,0000-square-foot Sprouts Farmers Market anchors the property, which is located at the intersection of State Route 54 and Little Road in Trinity. Other anchors include HomeGoods, Michaels, Five Below, Skechers and Ulta Beauty. Restaurant users include Burger King, Chipotle Mexican Grill and Panda Express, with more to be announced in the coming months.
GRESHAM, ORE. — Wood Partners has broken ground for Alta Civic Station, a multifamily property located at 1699 NW Civic Drive in Gresham, an eastern suburb of Portland. Slated to open spring 2021, Alta Civic Station will feature 318 market-rate units in a mix of studio, one-, two- and three-bedroom layouts, as well as live-work townhome-style units. Community amenities will include a community room with kitchen and social areas, fitness center, co-working, meeting space and ground-floor retail. Additionally, the project includes a half-acre public plaza adjacent to the Civic Drive MAX Light Rail station. The public plaza will feature outdoor gathering spaces and a children’s play area.
GRAPEVINE, TEXAS — Bob Moore Construction has broken ground on the new headquarters building in the northern Fort Worth suburb of Grapevine for The Trade Group, which provides exhibiting supplies for conventions and trade shows. The Trade Group will occupy 218,000 of the property’s 318,00 square feet upon relocating from Carrollton. Completion of the new facility is slated for mid-2020.
SEFFNER, FLA. — US Capital Development Co. and USAA Real Estate are partnering to construct a 303,006-square-foot speculative distribution center in Seffner. The facility will be located at 6337 County Road 579, 12 miles east of downtown Tampa. The center will offer tilt-up concrete walls with more than 60 dock positions, more than 300 auto parking spaces and 36-foot clear heights. Once complete, the building will serve as distribution/warehousing space for either one or two tenants. The partners expect to break ground in August with completion slated for the second quarter of 2020. The design team includes Edwards Construction as the general contractor, JRA Architecture as the architect and Landmark Engineering as the civil engineer. Clay Witherspoon and Trey Carswell of Avison Young are the leasing agents for the property.
CHARLOTTE, N.C. — Pollack Shores has acquired The Bryce, a 494-unit apartment complex in Charlotte. The Atlanta-based apartment developer and owner plans to invest $6.6 million to upgrade the property and unit interiors. Unit interiors will receive new stainless steel appliances, granite countertops and hard-surface flooring. Exterior upgrades include converting the outdoor volleyball court into a green space with grilling areas and a beer garden, and renovating the clubhouse to include an expanded gym with modern equipment. Other communal amenities include a three-hole golf course, tennis court, swimming pool and several walking trails. The community is situated at 4101 Double Creek Crossing Drive, 10 miles north of downtown Charlotte and four miles from University Research Park. The seller and sales price were not disclosed.
PORTLAND, ORE. — Fore Property has opened The Revere, an urban infill residential development in North Portland’s historic Mississippi neighborhood. The community is Fore’s fifth multifamily property in metro Portland. Holst Architecture designed the project. Located at 3309 N. Mississippi St., The Revere features 211 apartments in a mix of one-, two- and three-bedroom layouts. Units feature kitchens with stainless steel appliances, gas cooktops, quartz countertops, under-cabinet lighting and porcelain tile backsplash. Other unit features include wood-style plank flooring, in-unit washers/dryers, walk-in closets and private balconies or patios. Community amenities feature a rooftop lounge with fire pits, yoga studio, fitness center and a bouldering wall. Fore also recently developed Northpointe Apartments, located at 1314 N. Skidmore St., as well as Hearth apartment community, which is slated to open in August.
MERCER ISLAND, WASH. — Aegis Living has opened its newest seniors housing community, located on Mercer Island, between Seattle proper and the developer’s headquarters in Bellevue. Inspired by a Lake Placid ski lodge, the 104,000-square-foot building features 89 units of assisted living and memory care. The community offers a mix of studio, one-bedroom and two-bedroom options, with 16 apartments dedicated to memory care. Aegis Living is the developer, owner and operator. Compass Construction was general contractor for the property, which architect Ankrom Moisan designed. The LA Studio was landscape architect. Aegis operates 32 communities in Washington, California and Nevada, with seven additional communities in development.
FORT WORTH, TEXAS — Hillwood is underway on construction of Tacara Village, a 332-unit multifamily community that will be located within the company’s 26,000-acre AllianceTexas campus in Fort Worth. The property will offer 14 different floor plans and will feature smart locks and thermostats from provider Dwelo. Amenities will include a pool, outdoor kitchen, fitness center, pet park, game room and access to nearby walking trails and parks. Phase I of the project will open later this summer, and full completion is slated for early 2020.
ELK GROVE VILLAGE, ILL. — CA Industrial, the industrial investment and development division of CA Ventures, has broken ground on CA Elk Grove, a 146,029-square-foot speculative warehouse in Elk Grove Village. The Class A project will sit on seven acres at 550 E. Devon Ave. Slated for completion in the first quarter of 2020, CA Elk Grove will feature a clear height of 32 feet, 18 loading docks and parking for 135 cars. The new warehouse is being constructed on the site of an existing retail center. A portion of the retail space, 7,800 square feet, will remain as retail. The other portion was rezoned as industrial. Established businesses Tata’s Pierogi and La Spa Nails will be relocated to renovated space within the retail center. They will join Subway, Peking Express and Fatt Mustard Café, which will remain in their current locations. The retail property will receive a new façade, signage, roof and resurfaced parking lot. Harris Architects Inc. is the architect and Pepper Construction is the general contractor.
Cushman & Wakefield Arranges $57.3M Refinancing for Seniors Housing Property in Hamilton, New Jersey
HAMILTON, N.J. — Cushman & Wakefield has arranged a $57.3 million loan for the refinancing of Homestead at Hamilton, a seniors housing community in Hamilton, an eastern suburb of Trenton. The building rises four stories and features 195 units of independent living, assisted living and memory care housing. At the time of loan closing, the property was 61 percent occupied with expected stabilization within 12 months. Richard Swartz, Jay Wagner and Jim Dooley of Cushman & Wakefield arranged the transaction. MidCap Financial provided the $57.3 million floating-rate, first-mortgage loan that refinanced the original construction loan and mezzanine debt with accrued interest. The MidCap team included Lawrence Brin, Andrew Lavinder and Kevin McMeen.