Development

Meridian Breaks Ground on 673,920 SF Speculative Industrial Building Near St. Louis

by Kristin Harlow April 17, 2019

EDWARDSVILLE, ILL. — Meridian Design Build has broken ground on a 673,920-square-foot speculative industrial building on behalf of developer Exeter Property Group in Edwardsville near St. Louis. The new facility is located on a 135-acre parcel within Gateway Commerce Center. The property will feature a clear height of 36 feet, 132 loading docks, four drive-in doors, 398 car parking stalls and 171 exterior trailer stalls. JRA Architecture and Stock & Associates Consulting Engineers make up the project team. A timeline for completion was not disclosed.

April 17, 2019

Development Multifamily Texas

Wood Partners Begins Construction on 288-Unit Apartment Community in Plano

by Taylor Williams April 17, 2019

PLANO, TEXAS — Wood Partners, a multifamily investment and development firm with offices around the country, has begun construction on Alta 289, an apartment community in Plano that will offer 288 units in one-, two- and three-bedroom formats. In addition, units will average 913 square feet and feature stainless steel appliances, modern backsplashes, cabinetry and countertops, as well as washers and dryers. Amenities will include a pool, a dog park and outdoor courtyards. Preleasing will begin in August and completion is slated for spring 2020.

April 17, 2019

Development Office Texas

AmerisourceBergen Opens New Office at 300,000 SF Building in Metro Dallas

by Taylor Williams April 17, 2019

CARROLLTON, TEXAS — Pharmaceutical firm AmerisourceBergen has opened a new office at a 300,000-square-foot office building in northern Dallas suburb of Carrollton. Local firm Billingsley Co. developed the property, which offers amenities such as tech-enabled conference and business centers, specialized mother rooms, fitness and yoga centers, a coffee shop, café, micro-market and access to walking and biking trails. Gensler served as the project architect and StructureTone Southwest was the general contractor. Billingsley will also manage the property.

April 17, 2019

Development Industrial Texas

Trammell Crow, Clarion Break Ground on Phase II of 900,000 SF Industrial Park in Austin

by Taylor Williams April 17, 2019

AUSTIN, TEXAS — A partnership between Trammell Crow Co. and Clarion Partners has broken ground on Phase II of Park 183, an industrial development in southeast Austin. Phase II includes an 85,000-square-foot building that is fully preleased to FedEx Corp. Park 183 will ultimately span more than 900,000 square feet of Class A space across seven buildings. Completion of Phase II is slated for the fourth quarter.

April 17, 2019

Development Office Southeast Tennessee

GBT Realty Unveils Plans for Downtown Nashville Office Building

by Alex Tostado April 16, 2019

NASHVILLE, TENN. — GBT Realty has unveiled plans for 1221 Broadway, an office building in downtown Nashville. Brentwood, Tenn.-based GBT completed the demolition of the former Firestone at the site. The new Class A office building will range from 365,000 to 500,000 square feet depending on the needs of potential tenants. The building will rise between 23 and 27 stories. The asset will also include 7,000 square feet of ground-level retail space, a 10th floor amenity deck and café, and parking on the property. The design team includes architect Gresham Smith & Partners and general contractor Brasfield & Gorrie. Taylor Hillenmeyer, Janelle Gallagher, Frank Thomasson and Bryan Fort of CBRE will market handle leasing efforts for the property. A timeline for construction was not disclosed.

April 16, 2019

Development Hospitality Loans New York Northeast

Acres Capital Provides $37M Bridge Loan for Hilton-Branded Resort in Upstate New York

by David Cohen April 16, 2019

CANANDAIGUA, N.Y. — Acres Capital Corp. has provided a $37 million bridge loan to complete the construction and stabilization of the Canandaigua Finger Lakes Resort, a Hilton-branded resort in Canandaigua. Located at 205 Lakeshore Drive, the property will include 109 guest rooms, 44 residential condominium units, a restaurant and a 13,000-square-foot conference space. Mark Fogel of Acres provided the financing to developers Robert Murphy and David Genecco. Hospitality management firm Hay Creek Hotels and Restaurants will handle the design, development and operations of the resort.

April 16, 2019

Development Retail Texas

Cinépolis to Open 10-Screen Movie Theater at Shops at Willow Bend in Plano

by Taylor Williams April 16, 2019

PLANO, TEXAS — Cinépolis USA will open a 10-screen, 40,000-square-foot theater at The Shops at Willow Bend in Plano as part of owner Starwood Retail Partners’ $145 million project to expand and renovate the mall. The theater, which joins entertainment concepts like Crayola Experience and the North Texas Performing Arts Children’s Theatre, will be directly integrated into the mall and will offer a variety of food and beverage options. The venue, which is slated to open in 2020, will be Cinépolis’ third in Texas.

April 16, 2019

Development Multifamily Northeast Pennsylvania Seniors Housing

Tapestry Senior Living to Open 224-Unit Senior Living Community Near Pittsburgh

by David Cohen April 16, 2019

CORAOPOLIS, PA. — Tapestry Senior Living has announced it will open Tapestry Moon Township in June. Located in Coraopolis, approximately 12 miles northwest of Pittsburgh, the community will offer 93 units of memory care and 131 units of assisted living. The community is currently accepting deposits ahead of its upcoming opening.

April 16, 2019

Development Industrial Nevada Western

Panattoni Development Completes Centennial Commerce Center in North Las Vegas

by Amy Works April 16, 2019

LAS VEGAS — Panattoni Development Co. has completed the construction of Centennial Commerce Center, a speculative industrial facility in North Las Vegas. Located at 6405 E. Centennial Parkway on 10.4 acres, the cross-docked 213,000-square-foot facility features 32-foot clear heights, ESFR sprinklers, LED warehouse lighting and flexible office build-outs. Valued at $16 million, the project will designed with flexibility to accommodate up to four 51,000-square-foot tenants. Speedway10 Industrial, a joint venture between LaSalle Investment Management and Panattoni Development, owns the industrial asset. Alston Construction served as general contractor, and Greg Tassi and Donna Alderson of CBRE are handling the leasing of the property.

April 16, 2019

Acquisitions California Development Office Top Stories Western

Marquee Move: Warner Bros. to Purchase Portion of Burbank Studios, Anchor Office Campus in $1B Deal

by John Nelson April 16, 2019

BURBANK, CALIF. — Entertainment and media giant Warner Bros. has inked a deal to purchase a portion of The Burbank Studios, a new 35-acre film, TV, broadcast media and new media campus in Burbank formerly known as NBC Studios. The purchase includes office space, eight soundstages, a mill building and a commissary. The seller is Worthe Rea Estate Group, a Los Angeles-based office developer. Additionally, Warner Bros. inked a lease to be the sole and long-term tenant of a planned two-building office campus adjacent to The Burbank Studios. The Los Angeles Times is reporting the combined value of the studio acquisition and new office space exceeds $1 billion. The co-developers of the office campus are Worthe and San Francisco-based Stockbridge Real Estate, which plan to break ground on the project this fall. The office development will be known as the Second Century Project, named in honor of Warner Bros.’ 100th anniversary in 2023, which is the expected completion date of the design and construction phases. Second Century will include a seven-story building spanning 355,000 square feet and a nine-story building spanning 445,000 square feet. “This is an opportunity to reimagine not only our workspace but our future,” says Kim Williams, …

April 16, 2019

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