Development

Bridge Development Begins Construction of 505,906 SF Industrial Building in Rialto, California

by Amy Works December 11, 2018

RIALTO, CALIF. — Bridge Development has started construction of Rialto Fulfillment Center 3, a speculative Class A industrial building in Rialto. Located at 12050 Agua Mansa Road, the 505,906-square-foot building will feature 36-foot clear heights, 67 dock-high loading positions, two ground-level doors, 254 auto parking spaces, 185-foot fully secured concrete truck positions and 151 outside-of-dock trailer storage positions. Completion is slated for fourth-quarter 2019. Peter McWilliams, Mike McCrary, Ruben Goodsell and Sharon Wortmann of JLL’s Ontario, Calif., office are handling the leasing efforts for the property.

December 11, 2018

Development Illinois Midwest Multifamily

Spaces Real Estate Begins Pre-Leasing of Apartment Community in Chicago

by Kristin Harlow December 11, 2018

CHICAGO — Spaces Real Estate has begun pre-leasing of 1325 N. Wells, a 60-unit apartment community in Chicago’s Old Town neighborhood. Currently under development by Sedgwick Properties, the community will be managed by Laramar Group. First move-ins are scheduled for early 2019. Located between Schiller and Goethe streets, the property features one- and two-bedroom apartments ranging in size from 621 to 1,140 square feet. Monthly rents start at $2,225. Amenities include a fitness center, entertainment lounge and rooftop deck. Residents will also have access to bike storage, heated garage parking and dry cleaning service by Pressbox.

December 11, 2018

Alabama Development Hospitality Southeast

Hampton Inn & Suites Opens $15.5M Prototype Hotel in Metro Mobile

by Alex Tostado December 10, 2018

SARALAND, ALA. — Hampton Inn & Suites has opened a new 100-room, $15.5 million hotel in Saraland. Located about 12 miles north of Mobile, the hotel is Hampton’s first new prototype in a decade. Guestrooms have been redesigned to feature larger windows and bathrooms with improved lighting, décor and bath fixtures. Other amenities include 900 square feet of meeting space, a board room, complimentary breakfast, pool, fitness center and a business center. The business employs more than 18 full-time workers and will eventually employ 30 full- and part-time workers.

December 10, 2018

Development Florida Restaurant Retail Southeast

Crocker Partners Unveils Restaurant Row Project in Boca Raton

by Alex Tostado December 10, 2018

BOCA RATON, FLA. — Crocker Partners has unveiled plans to develop Restaurant Row, a 22,500-square-foot property that would feature four 5,000-square-foot restaurants with patios and the potential for an additional 2,500-square-foot outpost. Aaron Gentry of tvsdesign is the architect of the only exclusive restaurant complex ever built in Boca Raton. Crocker Partners presented its vision to the City of Boca Raton’s Community Appearance Board on Nov. 27. The property would be located at the site of The Plaza office building, which Crocker Partners reacquired in 2014.

December 10, 2018

Connecticut Development Hospitality Northeast

UC Funds Celebrates Grand Opening of Residence Inn Stamford Downtown in Connecticut

by David Cohen December 10, 2018

STAMFORD, CONN. — UC Funds has cut the ribbon on the newly completed Residence Inn Stamford Downtown. Located at 25 Atlantic St., it is the first hotel in Stamford to offer extended-stay lodging. UC funds acquired the property in 2017 and completed construction of the project. The eight-story, 156-room hotel opened Nov. 21. The Marriott-franchised hotel is managed by Urgo Hotels & Resorts. The Residence Inn features apartment-style accommodations and more than 2,000 square feet of meeting and event space. Amenities include complimentary Wi-Fi, a whirlpool spa, a 2,000-square-foot fitness center and a 24-hour market as well as a mezzanine-level outdoor bar. UC Funds also acquired the adjacent Courtyard Stamford Downtown in 2016.v

December 10, 2018

Development Industrial Midwest Missouri Office

Keystone Construction Completes Renovation of UniGroup Headquarters in Fenton, Missouri

by Kristin Harlow December 10, 2018

FENTON, MO. — Keystone Construction has completed the renovation of UniGroup’s headquarters in Fenton. UniGroup, the parent company of multiple transportation-related companies, is offering excess office space for lease. The campus totals approximately 450,000 square feet and is situated near the interchange of I-270 and I-44. The multi-million dollar renovation included upgrades to the HVAC system, roof, façade, windows, workout facility and cafeteria. Keystone Construction served as contractor and ACI Boland was the architect. NAI DESCO has been hired to market the 50,000-square-foot vacant space at One Premier Drive.

December 10, 2018

Development Industrial Texas

Perot Development to Build 2.4 MSF Industrial Park Near DFW Airport

by Taylor Williams December 10, 2018

IRVING, TEXAS — Perot Development Co. will build a 2.4 million-square-foot industrial park on a 196-acre tract located at the eastern end of Dallas-Fort Worth International Airport. The site, which is located near the regional hubs of FedEx and UPS, fronts the George Bush Turnpike and connects to a Dallas Area Rapid Transit (DART) station. The project is expected to break ground by March 2019 and will deliver four buildings that are anticipated to be available for lease by 2020. Halff Associates is serving as the project architect and civil engineer, and Peinado Construction will be the general contractor.

December 10, 2018

Development Office Texas

Adolfson & Peterson Delivers Apache’s New 70,000 SF Office in Midland

by Taylor Williams December 10, 2018

MIDLAND, TEXAS — Minneapolis-based general contractor Adolfson & Peterson Construction (AP) has delivered a new, 70,000-square-foot regional office for oil and gas firm Apache Corp. in the West Texas city of Midland. Designed by Kirksey Architecture, the property offers amenities such as a cafeteria, fitness center, childcare center, meeting space and a health clinic. Construction began in July 2017.

December 10, 2018

Acquisitions Colorado Development Restaurant Retail Western

Evergreen Devco Acquires 6.8-Acre Site for Retail, Restaurant Development in Denver

by Amy Works December 10, 2018

DENVER — Evergreen Devco has purchased a 6.8-acre site at the northeast corner of 56th Avenue and Central Park Boulevard in Denver. Situated in the Beeler Park neighborhood of Stapleton, Evergreen and City Street Investors plan to develop a retail, restaurant and commercial development to the be called The Shops at Beeler Park. Construction is slated to begin in February 2019.

December 10, 2018

Company News Development Mixed-Use Texas

PGA to Move Headquarters from South Florida to Frisco, Invest $500M

by Taylor Williams December 7, 2018

FRISCO, TEXAS — The PGA of America will move its headquarters from South Florida’s Palm Beach County to Frisco, where it will anchor a 600-acre, mixed-use development. The organization’s initial investment in the northern Dallas suburb will exceed $500 million, while the overall economic impact of the move will exceed $2.5 billion over the next 20 years. The PGA’s new headquarters will include two championship golf courses, a short course and practice areas totaling 45 holes, as well as a clubhouse, Class A office space, 500-room Omni Hotel, 127,000-square-foot conference center and a retail village. A joint venture between Omni Hotels & Resorts, Stillwater Capital and Woods Capital will purchase the land and construct the hotel, conference center, retail space and golf courses. The golf courses are expected to open in summer 2022. The hotel, convention center and other facilities are expected to open within six months of that date.

December 7, 2018

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