Development

Cinemark to Open 12-Screen Theater Near Portland, Maine

by Taylor Williams May 17, 2019

WESTBROOK, MAINE — Cinemark Holdings Inc., a publicly traded owner-operator of movie theaters, will open a 12-screen venue within the Rock Row mixed-use development in Westbrook, Maine, a western suburb of Portland. The theater, which will be built from the ground up, is scheduled to open in spring 2021. All auditoriums will feature oversized recliners with footrests and cup holders, as well as wall-to-wall screens and enhanced sound systems. Rock Row, a 100-acre development by Waterstone Properties Group, features more than 1 million square feet of commercial and residential space, as well as a beer and food hall, grocery store, medical and wellness campus and an 8,200-seat concert venue. A general contractor for the project has not yet been selected.

May 17, 2019

Development Georgia Hospitality Southeast

Woodbine Legacy Investments Completes $20M Renovation of W Atlanta-Buckhead Hotel

by Alex Tostado May 17, 2019

ATLANTA — Woodbine Legacy Investments (WLI) has completed a $20 million renovation of W Atlanta-Buckhead, a 12-story, 291-room hotel in Atlanta’s Buckhead district. The renovation began in May 2018. Guest accommodations — 286 guest rooms, four WOW Suites and one EWOW Suite — were enhanced with new headboards, armoires, damask wallcoverings and carpeting, 55-inch TVs, in-room Nespresso machines, beverage bar and artwork throughout. Communal renovations included new furnishings, an upgraded lobby and living room, upgraded fitness center and added Wi-Fi and meeting space throughout the hotel. The design team included architect and interior designer C+TC Studio, which designed the hotel’s rooftop bar, Whiskey Blue; interior designer Studio 11, which designed the lobby; and general contractor Genoa Construction. A second phase of renovation is planned for later this year, which will focus on updating the hotel’s restaurant, Cook Hall.

May 17, 2019

Development Industrial Louisiana Southeast Top Stories

Lotte Chemical, Westlake Chemical Open $3.1B Plant in Lake Charles, Louisiana

by Jeff Shaw May 17, 2019

LAKE CHARLES, LA. — A joint venture between Lotte Chemical USA (KRX: KRW) and Westlake Chemical Corp. (NYSE: WLK) has opened a new chemical plant in Lake Charles, located in the southwest corner of Louisiana near the Texas border. Development costs for the 250-acre campus were estimated at $3.1 billion. The chemical plant produces monoethylene glycol — commonly called MEG — an important ingredient in the making of paper, textile fibers, latex paints, asphalt, resins, antifreeze, coolants and adhesives. With an annual capacity of 700,000 metric tons, the new facility is now the largest MEG plant in the world. South Korea-based Lotte and Houston-Based Westlake expect the plant to generate 250 permanent jobs. According to the Louisiana Economic Development office, approximately 2,000 “indirect jobs” have also been created as a result of this project. “Among Korean petrochemical companies, Lotte Chemical is the first to locate a project in the United States. As such, this project represents a significant investment by Lotte Chemical,” says Jinkoo Hwang, president and CEO of Lotte Chemical USA. “Today also marks the opening of our new corporate headquarters in Lake Charles, and we are very excited to be part of the industrial growth in the region.” …

May 17, 2019

Stanley-Black-Decker-AllianceTexas-Fort-Worth

Development Industrial Texas

Stanley Black & Decker to Open 425,000 SF Manufacturing Plant at AllianceTexas in Fort Worth

by Taylor Williams May 16, 2019

FORT WORTH, TEXAS — Hardware manufacturer Stanley Black & Decker will open a 425,000-square-foot manufacturing plant at AllianceTexas in Fort Worth. The facility will be used to produce a range of tools and devices sold under the Connecticut-based company’s CRAFTSMAN line for homebuilders and mechanics. The groundbreaking of the plant, which is expected to employ approximately 500 people, will be held this summer, with construction slated for a late 2020 completion. Stanley Black & Decker, which operates roughly 30 manufacturing plants across the country, is also in the process of opening a 1.2 million-square-foot distribution center in nearby Northlake.

May 16, 2019

Development Multifamily Texas

PointOne, NRP Group to Develop 308-Unit Apartment Community in Austin

by Taylor Williams May 16, 2019

AUSTIN, TEXAS — A partnership between South Florida-based investment firm PointOne Holdings and Cleveland-based developer/general contractor NRP Group will develop The Knoll at South Congress, a 308-unit multifamily community in Austin. Units at the Class A property, which will be situated on 13.3 acres, will feature stone countertops, designer cabinetry, stainless steel appliances and hardwood-style flooring. Amenities will include a pool, fitness center, resident clubhouse, business center, dog park and spa, sky lounge and package concierge service. Construction is expected to begin in the next few weeks.

May 16, 2019

Development Industrial Oklahoma Texas

Gardner Tanenbaum Underway on 156,000 SF Industrial Project in Oklahoma City

by Taylor Williams May 16, 2019

OKLAHOMA CITY — Locally based developer Gardner Tanenbaum Holdings (GTH) is underway on construction of a 156,000-square-foot industrial facility in Oklahoma City for Corken Inc., a provider of pumps and compressors. Situated within the 104-acre Britton Road Commerce Park, the property offers convenient access to Interstate 35. Corken will utilize the facility, which is expected to be complete in late 2019, for manufacturing and office uses. Metropolitan Capital Advisors arranged debt for the project through Centennial Bank.

May 16, 2019

Development Retail South Carolina Southeast

Halvorsen Holdings to Develop Publix-Anchored Shopping Center Near Savannah

by Alex Tostado May 16, 2019

BLUFFTON, S.C. — Boca Raton, Fla.-based Halvorsen Holdings is planning to develop May River Crossing, a 70,200-square-foot, Publix-anchored shopping center in Bluffton, 16 miles north of downtown Savannah and 16 miles west of Hilton Head Island. May River Crossing will be situated on 15 acres on the northeast corner of Okatie Highway and May River Road. Publix will occupy 48,000 square feet and will feature a drive-thru pharmacy. There is 21,845 square feet of available space. May River Crossing’s committed tenants include a nail salon, national hair salon and a national cellphone provider. A timeline for construction was not disclosed.

May 16, 2019

Development Industrial Northeast Pennsylvania

Dermody Properties Breaks Ground on 557,820 SF Industrial Project in Wind Gap, Pennsylvania

by Taylor Williams May 16, 2019

WIND GAP, PA. — Dermody Properties, a Nevada-based investment and development firm, has broken ground on a 557,820-square-foot industrial project in Wind Gap, located in the Lehigh Valley region of Pennsylvania. The two-building complex will be situated on 73.1 acres about 80 miles from the Port of New York and New Jersey. Building 1 will span 349,920 square feet and Building 2 will total 207,900 square feet, with both facilities featuring 36-foot clear heights. Construction of Building 1 is expected to be complete by the fourth quarter, and construction of Building 2 is slated for completion in early 2020. Lee & Associates is handling leasing of the property, which will be marketed to e-commerce users. Vertek Construction is the general contractor.

May 16, 2019

Development Illinois Midwest Multifamily

Lynmark Group Opens 301-Unit Apartment Complex at Wheeling Town Center in Suburban Chicago

by Kristin Harlow May 16, 2019

WHEELING, ILL. — The Lynmark Group has completed the ONE luxury apartments at Wheeling Town Center in suburban Chicago. A grand opening weekend event for the public will take place Friday through Sunday, May 17-19. The property offers unique floor plans with private terraces, balconies, keyless entry and in-unit washer and dryers. Amenities include Peloton bikes, dog washing stations, pool and cabana, yoga studio, clubroom, demonstration kitchen and electric vehicle car charging stations. Residents can now earn two months of free rent when signing a 14-month lease. Monthly rents start at $1,520. Wheeling Town Center features 100,000 square feet of retail, restaurant and entertainment space. The entire mixed-use project is scheduled for completion later this year.

May 16, 2019

Development Hospitality Midwest Minnesota

Stahl Named Construction Manager for Dual-Branded Hotel in Downtown Minneapolis

by Kristin Harlow May 16, 2019

MINNEAPOLIS — Lake City Hospitality LLC, comprised of Eagan-based JR Hospitality and Iowa-based Hawkeye Hotels, is partnering with Stahl to convert a vacant office tower and surrounding site located at 317 Second Ave. in downtown Minneapolis into a dual-branded Hilton hotel. The eight-story building will undergo an $18.8 million renovation and 41,129-square-foot addition. The newly transformed space will feature 201 Tru and Home2 Suites guestrooms. Originally built in 1900, the existing 76,000-square-foot building was previously known as the William E. McGee Building. The facility was occupied by Hennepin County’s Office of the Public Defender for over 20 years, but the property has been vacant since 2012. JR Hospitality originally acquired the structure in 2017 before partnering with Hawkeye Hotels in late 2018. Ramaker & Associates Inc. is the project architect. Completion is slated for May 2020.

May 16, 2019

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