Development

Origin Investments Completes Phase II of Mixed-Use Development in Atlanta’s Virginia Highland Neighborhood

by Alex Tostado March 1, 2019

ATLANTA — Origin Investments has completed Phase II of 675 N. Highland, a mixed-use development that features 164 residential units and 28,000 square feet of commercial/retail space in Atlanta. Phase II delivered 39 residential units comprising 15 studio apartments, 21 one-bedroom units and three two-bedroom floor plans. Phase II also included 8,282 square feet of office space. Amenities at 675 N. Highland include a fitness center, clubroom, package concierge service, swimming pool, bocce ball court, fire pits and grilling areas. The multifamily asset is 96 percent occupied and is situated on the corner of North Highland and Ponce de Leon avenues in the city’s Virginia Highland district, about three miles northeast of downtown Atlanta. Retail tenants include CO Sushi, Seed Factory Marketing, Rockwell Oral and Facial Surgery and Gino’s East Pizzeria.

March 1, 2019

StorTropolis-Brighton-Self-Storage-Kansas-City

Development Midwest Missouri

Hunt Midwest Enters Self-Storage Business With Four New Developments in Greater Kansas City

by Taylor Williams March 1, 2019

KANSAS CITY — Hunt Midwest Real Estate Development Inc. is expanding into the self-storage market with the development of four StorTropolis climate-controlled facilities in the Kansas City metro area. Two of the four locations opened in the fourth quarter of 2018. The first location is StorTropolis Shawnee, a climate-controlled self-storage facility with 580 units and 30 enclosed units sized for boats or recreational vehicles (RVs) at the intersection of Shawnee Mission Parkway and Martindale Road in Shawnee, Kan. StorTropolis Brighton, which is located at the northwest corner of Brighton Avenue and Missouri Highway 152 in Kansas City, Mo., has also opened its doors with 681 climate-controlled units and 15 enclosed RV units. A third location, StorTropolis Tiffany Springs, will open in early summer at the northeast corner of Missouri Highway 152 and Interstate 29 in Kansas City, Mo. The developer plans to break ground on the fourth facility, StorTropolis Blue Springs in Blue Springs, Mo., this summer with an opening set for 2020. Hunt Midwest is developing StorTropolis in partnership with Strickland Construction and Attic Storage. The fast-growing self-storage real estate market is evolving toward fully enclosed, climate-controlled units and StorTropolis provides high-tech security and state-of-the-art units expected by today’s customer, according to Ora Reynolds, …

March 1, 2019

Development Illinois Midwest Restaurant Retail

Original Pancake House to Open 3,800 SF Restaurant in Peoria

by Taylor Williams March 1, 2019

PEORIA, ILL. — Portland, Ore.-based breakfast chain Original Pancake House will open a 3,800-square-foot restaurant within Grand Prairie Developments, a 200-acre mixed-use development by Cullinan Properties Ltd., in Peoria. The landlord will break ground on a new space for the restaurant this spring, with the opening slated for October. Major anchors at Grand Prairie Developments include AMC Theatre, Hy-Vee and Dick’s Sporting Goods in addition to numerous restaurants, retail stores and five hotels. Adjacent to the development is the $18 million Louisville Slugger Sports Complex estimated to draw 450,000 visitors each year.

March 1, 2019

Development Multifamily Texas

Southern Land Tops Off 19-Story Apartment Community in Dallas

by Taylor Williams March 1, 2019

DALLAS — Southern Land Co., a Nashville-based developer, has topped off Novē at Knox, a 19-story luxury apartment community in the Knox-Henderson neighborhood of Dallas. The property, which is expected to open in 2020, will consist of 41 junior units, 159 one-bedroom residences, 90 two-bedroom apartments and 16 penthouses. Amenities will include a pool with cabanas, fitness center, a residents’ lounge, dog park, outdoor grilling areas and a 10,000-square-foot private open space that connects to McKinney Avenue. Local architecture firm GDA Architects designed the project.

March 1, 2019

Civic Development Texas

Avenue Receives $3.4M in Financing to Develop Community Resource Center in Houston

by Taylor Williams March 1, 2019

HOUSTON — Avenue, a local nonprofit affordable housing developer, has received $3.4 million in project financing for the development of a community resource center in Houston. The property, which will be located at 3527 Irvington Blvd. in the city’s Moody Park area, will feature a health clinic and an early childhood education center. The groundbreaking is slated for the second quarter, and completion is scheduled for early 2020.

March 1, 2019

Civic Development Florida Southeast

Skanska USA, HOK Complete $154M Expansion, Renovation of Tampa International Airport’s Main Terminal

by Alex Tostado February 28, 2019

TAMPA, FLA. — Construction and development firm Skanska USA and design firm HOK have delivered the $154 million expansion and renovation of Tampa International Airport’s main terminal. The project includes improved sight lines across the terminal floor, additional seating areas and four outdoor terraces accessible to passengers and employees. The project added 98,000 square feet of usable space and 69 concessions spaces. The work also included the installation of 32 new escalators and renovation of all 24 public elevators in the main terminal. Additionally, privacy glass was installed in restaurant and event spaces to allow for more natural light. Construction began in 2014 and is the first of a three-phase renovation. At full build-out, Tampa International Airport expects to accommodate more than 34 million passengers annually, up from 21 million in 2018.

February 28, 2019

Development Industrial Kentucky Southeast

GE Aviation Expanding Footprint in Metro Cincinnati with New 68,000 SF Facility Near CVG Airport

by Alex Tostado February 28, 2019

FLORENCE, KY. — GE Aviation is expanding its footprint in northern Kentucky with a planned 68,000-square-foot facility near the Cincinnati/Northern Kentucky International Airport (CVG). The new facility in Florence, which is situated just south of the airport and about 11 miles southwest of downtown Cincinnati, will provide engine repair services. VanTrust Real Estate and Paul Hemmer Co. are developing the center, which is more than twice the size of GE’s current facility in nearby Hebron, Ky. The company is expecting to move to the new site at the end of this summer.

February 28, 2019

Acquisitions Development Multifamily New York Northeast Student Housing

Avison Young Brokers $68M Sale of Development Site on Upper East Side

by David Cohen February 28, 2019

NEW YORK CITY — Avison Young has arranged the $68 million sale of a development site on the Upper East Side of Manhattan for $68 million. Located at 1393 York Ave., the property has a floor area of 112,420 square feet. Avison Young represented the seller, The Church of the Epiphany, in the transaction. The buyer was Weill Cornell Medical College, which plans to build housing for medical students at the site. As part of the transaction, The Church of the Epiphany will remain at 1393 York Avenue for two years as a tenant.

February 28, 2019

Development Leasing Activity New York Northeast

Brax Realty Secures 99-Year Ground Lease in the Bronx Valued at $108M

by David Cohen February 28, 2019

NEW YORK CITY — Brax Realty has secured a 99-year ground lease for a development site in the Mott Haven section in the Bronx. The lease is valued at $108 million. The properties are located at 550 Trinity Ave. and 571 Jackson Ave. The site offers a buildable square footage of 52,318 square feet. Brax Realty secured the ground lease on behalf of the landlord, M&R Friedlander Supply Co. The lessee is 550 Trinity LLC.

February 28, 2019

California Development Industrial Self-Storage Western

Westport Properties Buys Land Parcel in Los Angeles to Develop 152,000 SF Self-Storage Facility

by Amy Works February 28, 2019

LOS ANGELES — Irvine, Calif.-based Westport Properties has acquired a 2.2-acre land parcel, located at 4800-4830 Valley Blvd. in Los Angeles’ Eastside submarket, for $5.4 million. The company plans to develop a three-story, 152,000-square-foot US Storage Centers self-storage facility on the site. Ben Spinner of DAUM Commercial Real Estate Services represented the buyer, while James Vu and Michael Collins, also of DAUM, represented the private seller in the deal. Westport Properties recently completed a self-storage facility at 2500 W. Hellman Ave. in Alhambra, Calif., and is currently underway on a development at 1901 W. El Segundo Blvd. in Compton, Calif.

February 28, 2019

Newer Posts

Older Posts