Development

Bridge Development Partners to Build 1 MSF Spec Industrial Project Near Miami

by Alex Tostado October 18, 2019

HIALEAH, FLA. — Bridge Development Partners, an industrial development and investment firm with six offices across the country, has acquired land in Miami-Dade County’s Hialeah submarket for the construction of a 1 million-square-foot speculative industrial project. The new development will consist of four buildings ranging in size from 109,000 to 500,000 square feet. Construction is scheduled to begin during the first quarter of 2020 and to be complete by the first quarter of 2021. The property will be located within the AVE Aviation and Commerce Center, a master-planned development located about 10 miles from Miami International Airport and 30 miles from Fort Lauderdale-Hollywood International Airport. In addition, the property offers proximity to The Palmetto Expressway and Gratigny Parkway, which serve as connections to Interstates 95 and 75. Wayne Schuchts, Tom Viscount and Bobby Benton of Avison Young have been tapped to lease the project. Avison Young also represented the seller, AVE LLC, in the land acquisition. “Healthy economic growth, bustling port activity and positive demand continue to drive industrial investment and development activity in Miami’s land-constrained market,” said Benton. “We anticipate strong interest from a variety of large industrial users from logistics to e-commerce who will benefit from the location …

October 18, 2019

Acquisitions Development Mixed-Use Southeast Virginia

Grace Street Properties Acquires 158,000 SF Retail Property in Northern Virginia, Plans 2 MSF Mixed-Use Development

by Alex Tostado October 17, 2019

WOODBRIDGE, VA. — Grace Street Properties has acquired Station Plaza, a 158,000-square-foot retail center spanning 13 acres. Grace Street plans to convert the site into a 2 million-square-foot mixed-use development. The Prince William Board of County Supervisors approved the master-planned project, which will be located within walking distance of the VRE/Amtrak station, four stops from the future site of Amazon’s HQ2. Grace Street plans to deliver residential units, commercial space, outdoor space and more retail. Grace Street plans to immediately begin site work. George Boosalis of Boosalis Properties represented the buyer in the land acquisition, which sold for $19.1 million, a 7.6 percent cap rate. David Choi of Greysteel represented the undisclosed seller.

October 17, 2019

Development Multifamily North Carolina Southeast Student Housing

Fountain Residential, BAM Capital to Develop Phase I of Student Housing Project Near UNC-Charlotte

by Alex Tostado October 17, 2019

CHARLOTTE, N.C. — Fountain Residential and BAM Capital will develop the first phase of a three-phase student housing project near the University of North Carolina, Charlotte. Phase I of The Vue on University will comprise 271 apartment units offering one- through four-bedroom floor plans totaling 727 beds. Communal amenities will include a swimming pool, 6,000-square-foot fitness center and multiple private study rooms. The community will be located at the corner of University City Boulevard and East Mallard Creek Church Road. Stuart Roosth Architects and Kimley-Horn Associates designed The Vue on University. MW Builders Inc. is the general contractor. Phase I is slated to be delivered in fall 2021.

October 17, 2019

Alabama Development Healthcare Southeast

Zarzour to Construct $17M Medical Office Building in Saraland, Alabama

by Alex Tostado October 17, 2019

SARALAND, ALA. — Zarzour Cos. has announced plans to construct a 55,000-square-foot, build-to-suit medical office building in Saraland. Zarzour will begin construction in January 2020, with plans to complete the project in January 2021. Alabama Orthopedic Clinic and Saraland Physical Therapy will anchor the building, which will be located near Industrial Parkway and I-65, nine miles north of downtown Mobile. Development is estimated to cost $17 million.

October 17, 2019

Development Idaho Mixed-Use Multifamily Retail Western

Opus Group Starts Construction of 285,000 SF Mixed-Use Development in Boise

by Amy Works October 17, 2019

BOISE — The Opus Group has started construction of a mixed-use project in downtown Boise. River Caddis Development and Standard Capital, a division of Standard Cos., are developing the project. Slated for completion in summer 2021, the eight-story, 285,000-square-foot project will feature 173 apartments in a mix of micro, one- and two-bedroom floor plans, as well as 3,000 square feet of street-level retail space. The second, third and fourth floors will primarily serve as parking with 400 parking stalls and bike storage that will be privately managed by Ada County, Idaho. The remaining floors will consist of apartments, a fitness center and a landscaped rooftop courtyard. The development is located at the corner of South Third and West Myrtle streets. Opus is serving as design-builder, interior designer, architect and structural engineer of record. River Caddis and Standard Capital are co-developers and co-owners and GGLO is the design architect of the project.

October 17, 2019

Development Retail South Carolina Southeast

Halpern Delivers Two Retail Buildings within Piedmont Marketplace in Upstate South Carolina

by Alex Tostado October 17, 2019

GREER, S.C. — Halpern Enterprises Inc. has delivered two build-to-suit retail buildings within the 131,000-square-foot Piedmont Marketplace in Greer. The first delivery is a 6,000-square-foot building that Rack Room Shoes opened in August. The second project is a 2,500-square-foot building that Stanton Optical is expected to open later this fall. Piedmont Marketplace is located at 1326 W. Wade Hampton Blvd., two miles west of downtown Greer. Kohl’s anchors the retail center, which is fully leased. Other tenants include Ross Dress for Less, Ulta Beauty, Five Below and Tractor Supply.

October 17, 2019

Development Mixed-Use New Jersey Northeast

LeCesse, MAS Underway on $91.5M Mixed-Use Development in Elizabeth, New Jersey

by Alex Patton October 17, 2019

ELIZABETH, N.J. — LeCesse Development Corp. and MAS Development Group are underway on construction of Vinty, a $91.5 million mixed-use project in Elizabeth, a western suburb of New York City. Vinty will offer 267 apartment units and 37,000 square feet of ground-floor retail and office space. Amenities will include a fitness center, dog park, outdoor theater, golf simulator, pool and a greenhouse. The location’s close proximity to the Elizabeth train station offers direct access to Manhattan, Newark Penn Station and Newark Liberty National Airport. JLL arranged construction financing for the project through Citizen’s Bank. Humphreys & Partners Architects is designing the project, and March Associates is the general contractor. Residences are expected to be available for lease in spring 2021.

October 17, 2019

Development Industrial Midwest Wisconsin

Seefried, James Campbell Co. Complete Industrial Project in Franklin, Wisconsin

by Kristin Harlow October 17, 2019

FRANKLIN, WIS. — Seefried Industrial Properties, in partnership with James Campbell Co. LLC, has completed the shell construction of the 88,667-square-foot Franklin Business Center in suburban Milwaukee. The facility is available for users ranging from 20,000 to 88,667 square feet. Located at Oakwood Park Drive near Mitchell International Airport, the development is situated on 5.7 acres and features a clear height of 28 feet, 92 auto parking spaces, eight dock doors and two drive-in doors. Peak Construction Corp., Partners in Design Architects Inc. and Pinnacle Engineering Group made up the project team. Trent Poole, Christian Chambers and Paula Wink of CBRE are marketing the property for lease.

October 17, 2019

Development Hospitality New York Northeast

Marshall Hotels & Resorts Opens Three Hotels in Metro New York

by Alex Patton October 17, 2019

NEW YORK CITY AND LONG ISLAND CITY, N.Y. — Marshall Hotels & Resorts has opened three new hotels in metro New York. In Manhattan, the company opened a 68-room Wingate by Wyndham and a 79-room La Quinta by Wyndham. The Wingate hotel is near Madison Square Garden, Times Square and Central Park. The La Quinta property is near Times Square, the Empire State Building and the Theater District, as well as the LaGuardia, JFK International and Newark Liberty International Airports. In Long Island City, the company opened 140-room Wingate by Wyndham near Icahn Stadium and Arthur Ashe Stadium.

October 17, 2019

Development Midwest Minnesota Multifamily

Stahl to Renovate The Carlyle Residential Building in Minneapolis

by Kristin Harlow October 17, 2019

MINNEAPOLIS — Stahl has been selected to renovate The Carlyle, the tallest residential building in Minnesota. Stahl will renovate the first- and fifth-floor common areas, including the lobby; build a new clubroom and yoga room on the fifth floor; and install new finishes on all residence floors. The 39-story building was originally built in 2007. It includes 249 units. Renovation work is slated for completion in May 2020. Stahl has partnered with ESG Architects for the project.

October 17, 2019

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