Development

PREIT Opens Woodland Mall Expansion in Grand Rapids, Michigan

by Kristin Harlow October 11, 2019

GRAND RAPIDS, MICH. — PREIT has opened the Woodland Mall expansion wing. In 2017, the company purchased the store formerly occupied by Sears at the mall. It was demolished in order to make way for new uses. Von Maur now occupies 90,000 square feet at the new wing and is the department store’s first in the region. Other new retailers slated to open at the property include Urban Outfitters, Sephora, White House Black Market, Tricho Salon, Paddle North, Mobile Station and REI, which opened in May. New dining options include Black Rock Bar & Grill and The Cheesecake Factory, slated to open in November.

October 11, 2019

Development Healthcare Midwest Minnesota Retail

Lupe to Redevelop Retail Site in Woodbury, Minnesota Into Medical Office

by Kristin Harlow October 11, 2019

WOODBURY, MINN. — Lupe Development Partners has unveiled plans to redevelop a 6.7-acre retail site at the intersection of Valley Creek Road and I-494 in Woodbury. Lupe will tear down an existing Key Inn motel to make way for a new 34,000-square-foot medical office building. There will also be a credit union-anchored retail building and a drive-thru restaurant. Plans also call for the renovation of two small office buildings on Woodlane Drive. Demolition of the motel is expected to begin in early 2020. The first new buildings are slated for completion in September 2020. Aaron Barnard and Anne Stahley of Cushman & Wakefield will market the medical office building for lease. Sara Martin and Molly Townsend of Colliers International will market the retail portion for lease.

October 11, 2019

Development Illinois Midwest Office

J.C. Anderson Completes 30,824 SF Spec Office Build-out in Chicago

by Kristin Harlow October 11, 2019

CHICAGO — J.C. Anderson has completed a 30,824-square-foot office suite build-out on a speculative basis for property owner GlenStar Properties LLC at 55 E. Monroe St. in Chicago. The 1.3 million-square-foot office tower is located one-half block west of Michigan Avenue. The project scope included the addition of open offices, pantries, conference rooms and new lighting fixtures. Nelson provided architectural services.

October 11, 2019

Development Office Texas

Brandywine to Develop 150,000 SF Office Building in Southwest Austin

by Taylor Williams October 10, 2019

AUSTIN, TEXAS — Brandywine Realty Trust, a Philadelphia-based REIT, will develop Garza Ranch Building Two, a 150,000-square-foot office property in southwest Austin. Designed by Page Architecture, the project represents the final phase of the 34-acre Garza Ranch mixed-use development. The building will feature floor-to-ceiling windows, as well as direct access to a two-acre park and the Violet Crown Trail, a 30-mile path that bisects the development. JLL will handle leasing of the building. A construction timeline was not released.

October 10, 2019

Development Georgia Multifamily Southeast

Joint Venture Breaks Ground on 252-Unit Apartment Complex in Athens, Georgia

by Alex Tostado October 10, 2019

ATHENS, GA. — A joint venture between Fickling & Co., Novare Group and BCDC has broken ground on Lullwater at Athens, a 252-unit apartment complex in Athens. The property will offer one- through three-bedroom floor plans. Communal amenities will include a clubhouse, swimming pool, community pavilion, car care center and a pet park. It will be located at 225 Jennings Mill Parkway, nine miles west of downtown Athens and six miles west of the University of Georgia. Lullwater at Athens is expected to open in the fourth quarter of 2020.

October 10, 2019

Development Multifamily Southeast Student Housing Virginia

Core Spaces, Kayne Anderson to Break Ground on 1,530-Bed Student Housing Community Near Virginia Tech

by Alex Tostado October 10, 2019

BLACKSBURG, VA. — A joint venture between Core Spaces and Kayne Anderson Real Estate is set to break ground on Hub on Campus Blacksburg, a 1,530-bed student housing community serving students at Virginia Tech. The project will be delivered in two phases, with the first scheduled for completion in fall 2021. The second phase of development is set to open in fall 2022. The community will feature amenities such as a swimming pool, fitness center, weight room, study lounges, walking paths and a 1,110-space parking garage. TSB Capital Advisors consulted on the formation of the joint venture. TSB Realty arranged the sale of the development site to the new venture on behalf of the seller, The Reliant Group.

October 10, 2019

Development Multifamily New Jersey Northeast

JMF Properties Opens 212-Unit Multifamily Community in Plainfield, New Jersey

by Alex Patton October 10, 2019

PLAINFIELD, N.J. — JMF Properties has opened Quin Sleepy Hollow, a 212-unit multifamily community in Plainfield, located approximately 25 miles west of New York City. The property at 1400 South Ave. offers one- and two-bedroom units with rents ranging from the low $1,800s to the high $2,900s. Amenities include a fitness center, theater, dog park and outdoor lounge.

October 10, 2019

Development Massachusetts Multifamily Northeast Retail

Callahan Breaks Ground on 610-Unit Multifamily Redevelopment Project Near Boston

by Alex Patton October 9, 2019

QUINCY, MASS. — Callahan Construction Managers has broken ground on a 610-unit multifamily redevelopment project in Quincy, a southern suburb of Boston. The Bozzuto Group and Atlantic Development are redeveloping the North Quincy Station bus depot and parking lot into a three-building residential property with 45,000 square feet of retail space as well as a 1,500-spot parking garage. The residential portion of the project will be delivered over two phases with the first units expected to be available for occupancy in May 2021. Units delivered in Phase II are slated to come on line in January 2022, with the entire project scheduled to be complete soon thereafter. Amenities will include two outdoor courtyards, a pool deck, club lounge, commercial kitchen and a fitness center with yoga and spin classes.

October 9, 2019

LogistiCenter-at-Park-Meridian-Riverside-CA

California Development Industrial Western

Dermody Properties Completes 262,260 SF LogistiCenter at Park Meridian in Riverside, California

by Amy Works October 9, 2019

RIVERSIDE, CALIF. — Dermody Properties has completed construction of LogistiCenter at Park Meridian, located at 21822 Opportunity Way within Meridian Business Center in Riverside. Situated on 13.5 acres in the heart of Inland Empire East, the 262,260-square-foot facility features 32-foot clear heights, 56 dock-high doors, an ESFR sprinkler system and LED warehouse lighting. Additionally, the building has 2,493 square feet of built-out office space within the total square footage available for lease. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield have been retained to handle leasing for the project.

October 9, 2019

California Development Mixed-Use Top Stories Western

Overton Moore Properties Breaks Ground on 1.25 MSF Mixed-Use Development in Burbank, California

by Alex Tostado October 9, 2019

BURBANK, CALIF. — Overton Moore Properties (OMP) has broken ground on Avion Burbank, a planned 18-building, 1.25 million-square-foot mixed-use development in Burbank, just northwest of Los Angeles. At full build-out, the property will include six industrial buildings, nine two-story office buildings, a 150-room hotel and two retail and restaurant buildings. OMP purchased the property in 2016 from the Burbank-Glendale-Pasadena Airport Authority and received project approval from the Burbank City Council earlier this year. The 60-acre site is located next to Hollywood Burbank Airport, which Burbank-Glendale-Pasadena Airport Authority owns. The Los Angeles Times reports OMP paid $72.5 million for the property. OMP plans for the project to be certified LEED Silver and include multi-purpose walk paths, indoor and outdoor meeting areas, and bike share stations. The property will include 115 electric vehicle chargers, with wiring and space to potentially add 62 parking stalls and truck loading docks for future electric vehicle chargers. Completion is slated for December 2020. “Avion Burbank will offer users a unique environment that incorporates state-of-the-art buildings situated in an interactive work-life environment,” says Timur Tecimer, chief executive officer of OMP. “This innovative campus will also boast multiple outdoor amenities that will assist companies in recruiting and retaining the …

October 9, 2019

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