NEW YORK CITY — Colliers International’s project management team has completed a 12,000-square-foot, build-to-suit office project at One Penn Plaza in Manhattan for Dimension Data, a South Africa-based IT firm. Designed by Gensler, the office space features adjustable desks, shared employee workspaces, expansive views and access to an abundance of natural light. Dimension Data will occupy the 18th floor of the 57-story Penn Plaza, which spans approximately 2.7 million square feet. Vornado Realty Trust owns the building, which was originally built in 1972 and renovated in 1995.
POWAY, CALIF. — Parkview Financial has funded a $31.8 million construction loan to San Diego-based Poway Property LP for the development of Outpost, a mixed-use project located at 13247 Poway Road in Poway. Upon completion, the three-building property will feature 53 apartment units and ground-floor retail space, which is fully pre-leased to Crunch Fitness and Three Local Brothers. Additionally, the asset will include two levels of underground parking offering a total of 337 parking spaces. The residential portion of the property will feature 16 one-bedroom, 22 two-bedroom and 15 three-bedroom units with stainless steel appliances, stone countertops and engineered hardwood/vinyl flooring. On-site community amenities will include patios, a courtyard, rooftop deck and leasing office. Construction began last summer, with completion slated for 2020.
ITASCA, ILL. — Hamilton Partners has completed the renovation of its Hamilton Lakes Business Park in Itasca. The property is home to more than 3.5 million square feet of office space. In April, Hamilton completed renovations of 500 Park and One Pierce Place, which comprise approximately 1 million square feet. Balfour Pacific and Hamilton invested more than $7 million in both buildings. At One Pierce Place, Hamilton renovated the front entrance and lower lobby, adding a Wi-Fi lounge and conference center. At 500 Park, the renovation included an update to the entrance and lobby as well as the lower-level concourse level. Tenants now have access to a Wi-Fi lounge and a patio overlooking the walking path. Farmers Fridge and Foodsby have been added to increase food options. Hamilton also made updates to 555 Pierce, 333 Pierce and 150 Pierce, which now features a shared office space.
CHICAGO — Skender has completed construction of Esperanza Brighton Park, a new 26,000-square-foot health center in Chicago’s Brighton Park neighborhood. Esperanza, which stands for “hope” in Spanish, is a two-story facility. It includes clinical office space, 30 exam rooms, space for additional diagnostic and treatment services, a retail pharmacy and 69 parking spaces. Skender, serving as general contractor, collaborated with architect JGMA and McNitt Consulting to complete the project.
BEDFORD PARK, ILL. — PREMIER Design + Build Group has broken ground on a speculative warehouse project in Bedford Park on behalf of Bridge Development Partners. Bedford Park is located about 16 miles southwest of Chicago. The project will be completed in two phases. The first phase involves demolition of a large single-story building located on West 65th Street. During the second phase, PREMIER will oversee construction of a new 218,560-square-foot building. The new property will include 33 exterior truck docks, two drive-in doors and a clear height of 32 feet. The 12-acre site will accommodate parking for 180 cars and 44 trailers. Cornerstone Architects Ltd., Swift Structural Design and Spaceco make up the project team. A timeline for completion was not disclosed.
GODFREY, ILL. — Life Care Services has completed a renovation project at The United Methodist Village, which has been renamed Asbury Village. The nonprofit continuing care retirement community, which opened in 1997, is located in Godfrey, approximately 25 miles north of St. Louis. The new amenities include communal spaces, a new library, activity areas, fireplace and coffee bar. The community also recently added a new wellness clinic. Life Care Services continues to manage the community, as it has for 17 years.
CLARKSVILLE, TENN. — LG Electronics USA has opened its new $360 million, 1 million-square-foot home appliance factory in Clarksville. DPR Construction served as the general contractor for the 13-month project. Gresham, Smith and Partners was the architect. DPR employed more than 800 workers on-site to complete the plant, which sits on 310 acres. South Korea-based LG employs 550 workers at the facility with plans to house up to 700 employees when the factory becomes fully operational. LG will incorporate robotics, automation and engineered systems into the production of up to 1 million washing machines per year at the warehouse. “We are proud to bring state-of-the-art, home appliance production technology and even more U.S. jobs to the great state of Tennessee,” says Dan Song, president of the LG Home Appliance and Air Solutions Co. “Thanks to the support of local officials and the Montgomery County community, LG is expanding our business investments in the United States to better serve our customers and, ultimately, American consumers seeking the best washing machines in the market.” Tennessee Gov. Bill Lee was on-hand at the ribbon-cutting ceremony for the factory, which is located about 50 miles northwest of downtown Nashville. “LG is known around the world for its innovative appliances …
SEATTLE — Hudson Pacific Properties has purchased the condominium rights to build a fully entitled office development for $86 million before credits, prorations and closing costs. The property will be adjacent to the Washington State Convention Center (WSCC) Addition in Seattle. The 538,000-square-foot office tower will be located at the intersection of Boren Avenue and Olive Way in Seattle’s Denny Triangle neighborhood. The 1.2-acre, full-block site is fully entitled for a 16-story office tower. The WSCC Addition’s development team, including Pine Street Group as pre-development manager and LMN as architect, has already performed extensive predevelopment and design work. Targeting LEED Gold certification, the tower will feature 526,000 square feet of office space and 12,000 square feet of retail space. Amenities will include more than 10,000 square feet of outdoor space, bike storage, showers and lockers, as well as direct access to the WSCC Addition’s pedestrian-level retail experience. Additionally, the site offers transportation access to Interstate 5, Sound Transit’s Link Light Rail, the Seattle Streetcar network and regional bus service. Hudson Pacific estimates total development costs, including the purchase price, in the range of $300 million to $350 million. Construction is slated to begin as early as mid-2021 with delivery for …
SANTA MARIA, CALIF. — JLL Capital Markets has secured a $35 million loan to facilitate the refinancing and completion of Refugio Apartments, a 125-unit rental townhome community in Santa Maria. Annaly Capital Management provided the loan to the borrower, Dynamic Development Co. Situated on seven acres at 270 W. McCoy Lane, Refugio Apartments comprises seven stucco buildings with 125 luxury townhomes rentals. The two- and three-story units offer three bedrooms, at least 2.5 bathrooms, balconies, attached two-car garages and private backyards in select units. Community amenities include a 3,000-square-foot recreational center with a resort-style swimming pool, year-round spa, barbecue area, business center and resident clubhouse with built-in fitness center. Residents already have taken occupancy in completed portions of Refugio Apartments, with final completion scheduled for June 2019. Aaron Niedermayer, Reid McGlamery, Brian Buglione and Brandon Krupetsky of JLL arranged the financing.
DENVER — A joint venture between Evergreen Devco and City Street Investors has broken ground on The Shops at Beeler Park, located at the northwest corner of 56th Avenue and Central Park Boulevard in Denver’s Stapleton neighborhood. Situated on 6.8 acres, The Shops at Beeler Park will feature two multi-tenant buildings and five single-tenant buildings offering a total of 16,500 square feet of retail space. Completion is slated for November. The project team includes Farnsworth Group as architect and Waner Construction Co. as contractor. Evergreen has already sold two pads to Hello Car Wash and Stapleton Endodontics, and plans to sell or lease the remaining portion of the project to other neighborhood service and restaurant pad users. Allen Lampert and Steve Markey of David, Hicks & Lambert Brokerage, along with Pat McHenry of City Street Investors, are handling the leasing for the property.