Development

Curtis-Layer Design Build Breaks Ground on 150,000 SF Spec Warehouse in Streetsboro, Ohio

by Kristin Harlow August 5, 2019

STREETSBORO, OHIO — Curtis-Layer Design Build has broken ground on a 150,000-square-foot speculative warehouse in Streetsboro, about 30 miles southeast of Cleveland. The building will feature precast concrete and glass panels and a clear height of 32 feet. The site is located near the Frost Road interchange at I-480 and approximately a half-mile from the Ohio Turnpike. Completion is slated for first-quarter 2020. Bob Brehmer of NAI Pleasant Valley is marketing the property for lease. A private investment group is the developer and MPG Architects is the architect. Chemical Bank provided construction financing.

August 5, 2019

Development Industrial Massachusetts Northeast

TMC Holdings to Develop 50,000 SF Industrial Property in Franklin, Massachusetts

by Alex Patton August 5, 2019

FRANKLIN, MASS. — TMC Holdings & Development LLC will develop a 50,000-square-foot industrial property in Franklin, about 30 miles southwest of Boston. Formerly the site of a glass recycling facility, the property is located in the Marijuana Overlay District with frontage on I-495. TMC Holdings plans to demolish the facility and build a 50,000-square-foot warehouse with 22 to 24-foot clear heights. Construction is slated to begin in fall 2019. John Eysenbach of R.W. Holmes represented TMC Holdings in the transaction, as well as the seller, Strategic Materials Inc.

August 5, 2019

Development Florida Mixed-Use Southeast

Miami Beach City Commission OKs $15M Ocean Terrace Project

by Alex Tostado August 2, 2019

MIAMI BEACH, FLA. — The Miami Beach City Commission has approved a two-block development of its Ocean Terrace Streetscape Plan. The City entered a private-public partnership with Ocean Terrace Holdings LLC, which will be responsible for the design, construction and full execution of the five-acre public space. The redevelopment will take four years or fewer to complete and cost $15 million. What is today an asphalt street will be converted into a pedestrian-focused green space with native trees that will provide shade, walking promenades, water features and public seating. The design was developed by landscape architecture firm Raymond Jungles Inc., the group behind the Miami Beach Botanical Gardens and the promenade in front of 1111 Lincoln Road. The redevelopment will also include a boutique residential building, an upscale hotel and repositioned retail. The City of Miami Beach will retain control of all the land.

August 2, 2019

Broward County Convention Center rendering

Civic Development Florida Hospitality Southeast Top Stories

Balfour Beatty to Build $1B Broward County Convention Center Expansion in Fort Lauderdale

by Jeff Shaw August 2, 2019

FORT LAUDERDALE, FLA. — General contractor Balfour Beatty has signed a $780 million agreement with developer Matthews Southwest, making Balfour Beatty the design-build lead for the over $1 billion expansion of the Broward County Convention Center in Fort Lauderdale. The project will add 525,000 square feet of meeting space to the complex, plus a 29-story, 800-room Omni Hotel. Located on Florida’s southeastern coast approximately 25 miles north of Miami, the completed convention center will total 1.2 million square feet. The expanded property will include 350,000 square feet of contiguous exhibition space, a 65,000-square-foot waterfront ballroom, modern technology, new dining concepts, enhanced water taxi access and a waterfront plaza with public access. The Omni Hotel will add 73,000 square feet of meeting and ballroom space; multiple restaurant options including a rooftop bar; an 11,000-square-foot, full-service spa and fitness center; and over 30,000 square feet of pool decks. The hotel will be positioned along the city’s famed Intracoastal Waterway with a scenic view of the Atlantic Ocean. Matthews Southwest has called on London-based firm Balfour Beatty for projects in the United States before. The company was hired by Matthews Southwest to build the Omni convention center hotel in Dallas and a residential …

August 2, 2019

Development Hospitality Texas

NewcrestImage Completes 195-Room AC Hotel by Marriott in Downtown Houston

by Taylor Williams August 2, 2019

HOUSTON — NewcrestImage, a Dallas-based hospitality development firm, has completed the 195-room AC Hotel by Marriott Houston Downtown. The 10-story hotel represents an adaptive reuse of the historic, former Gulf Oil headquarters building that was originally constructed in 1914. The hotel houses a restaurant, bar and lounge, as well as a fitness center, business center, a media salon, Starbucks Coffee and a 3,600-square-foot event space. Mitchell Carlson Stone served as the project architect, and Arch-Con served as the general contractor.

August 2, 2019

Development Industrial Northeast Pennsylvania

Amazon to Open 1MSF Distribution Facility in Pittsburgh, Create 800 Jobs

by Alex Patton August 2, 2019

PITTSBURGH — Amazon will construct a 1 million-square-foot distribution center in Pittsburgh, a move that will create 800 new full-time jobs. The property will be Amazon’s 15th operations facility in Pennsylvania. The Pittsburgh Post-Gazette reports that Amazon will invest $30 million in the facility and that once the jobs are in place, Amazon will receive $1.6 million in job creation tax credits from the state Department of Community and Economic Development. Hillwood, a Fort Worth-based industrial firm, will lead the development of the project, a construction timeline for which has not yet been established.

August 2, 2019

Development Multifamily New Jersey Northeast Seniors Housing

Cushman & Wakefield Arranges $26.5M in Development Equity for Seniors Housing Project in New Jersey

by Alex Patton August 2, 2019

MONTVALE, N.J. — Cushman & Wakefield Markets has arranged $26.5 million of institutional equity capital from a private equity fund for the development of a 203-unit seniors housing project in Montvale, about 30 miles north of New York City. The community will feature a four-story building on an 11.5-acre site. Cushman & Wakefield acted as exclusive advisor to a joint venture between Pike Properties, Thrive Senior Living and Gallium Real Estate. Construction debt financing of $54.6 million has been secured an undisclosed seniors housing lender and is expected to close in late August. Richard Swartz, Jay Wagner and Jim Dooley of Cushman & Wakefield handled the debt placement.

August 2, 2019

Development Illinois Midwest Multifamily

McShane Completes Construction of 295-Unit Apartment Community in Lombard, Illinois

by Kristin Harlow August 2, 2019

LOMBARD, ILL. — McShane Construction Co. has completed Elan Yorktown, a 295-unit apartment community in Lombard. Greystar is the developer and owner. The property offers studio, one-, two- and three-bedroom units ranging in size from 626 to 2,471 square feet. The four-story development includes an attached four-story parking garage. Amenities include a fitness center, golf simulator room, theater room, library, clubroom, conference rooms, pool, walking path and dog park. ESG Architects served as the architect. Monthly rental rates start at $1,490.

August 2, 2019

Development Midwest Minnesota Mixed-Use

Ryan Cos. to Undertake $3M Renovation of City Center in Minneapolis

by Kristin Harlow August 2, 2019

MINNEAPOLIS — Ryan Cos. Real Estate Management is undertaking a $3 million renovation of City Center, which is comprised of nearly two city blocks in the center of Minneapolis. It includes the 51-story skyscraper, 33 South Sixth Street; a 381,630-square-foot mall; a 687-stall parking garage; and the Minneapolis Marriott. Renovation plans call for the replacement of precast concrete panels with updated structural materials, additional lighting, new signage and a second-floor covered patio space. Sussner has undertaken the brand repositioning of the property, which will include a new City Center logo and colorful graphics. Ryan Cos. will oversee the construction, which will be completed by RJM Construction.

August 2, 2019

Development Florida Loans Multifamily Southeast

Regions Bank Provides $54M Construction Loan for Townhouse Community in South Florida

by Alex Tostado August 1, 2019

MIRAMAR, FLA. — Regions Bank has provided a $54 million construction loan to FCI Residential Corp. for Miramar Phase II, which will include Catalina at Miramar. Catalina at Miramar will be a 300-unit rental townhouse development spanning 33 acres. Delivery is expected for January 2022. The project will consist of 180 two-bedroom units and 120 three-bedroom units in 36 two-story buildings of two types. The first type will consist of a traditional two-story townhome with one- and two-car garage options. The second building type will consist of two-stories without a garage with front patio, back-to-back units including spacious public courtyards and pedestrian walkways between buildings. Communal amenities will include a two-story clubhouse, fitness center, yoga room, virtual fitness, business center, swimming pool with outdoor kitchen and café-style lounge area.

August 1, 2019

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