Development

Leon Capital to Develop 364-Unit Apartment Community in Lewisville, Texas

by Taylor Williams December 7, 2018

LEWISVILLE, TEXAS — Dallas-based Leon Capital Group will develop Lakeyard District, a 364-unit multifamily community that will be located in the northern Dallas metro of Lewisville. Situated on 15.2 acres, the Class A property will offer one-, two- and three-bedroom units and amenities such as a pool, outdoor grilling area, fitness center, dog park and TV lounges. LG Wade is the general contractor for the project and BGO Architects is handling design. Preleasing is expected to begin in August. The first units are slated for a November 2019 delivery.

December 7, 2018

Development Multifamily New York Northeast

Leviathan Capital Secures $20M Construction Loan for Multifamily Development in Westchester, New York

by David Cohen December 7, 2018

WESTCHESTER, N.Y. — Leviathan Capital has secured a $20 million construction loan for the Grand, a transit-oriented multifamily community in Westchester. The 56,000-square-foot project will consist of 15 townhomes and nine penthouse units. The project is slated to be completed in 2021. Leviathan secured the non recourse loan with a completion and carry guaranty to the borrowers, a group that includes NBA basketball player Luol Deng. The lender was undisclosed.

December 7, 2018

Development Midwest Ohio Retail

Construction Underway for Easton Town Center’s $500M Expansion in Columbus

by Kristin Harlow December 7, 2018

COLUMBUS, OHIO — Easton Town Center is undergoing a significant expansion that will feature local and national retailers, breweries, restaurants, entertainment venues, hotels and public event space. The expansion will exceed $500 million of development over the next four years. The Georgetown Company is co-developing the project alongside Steiner + Associates and L Brands. Construction is already underway on infrastructure, parking, Merchants Row, The Yard and Urban Hearth. The Yard will serve as a public green space for live music and entertainment. Urban Hearth is an industrial building that has been architecturally deconstructed to create a social space with breweries and restaurants. A Restoration Hardware gallery will anchor the expansion. The three-story, 40,000-square-foot building is expected to open in 2019. Easton Town Center is a 1,300-acre mixed-use development in northeast Columbus.

December 7, 2018

Arizona Development Industrial Western

Lincoln Property Co. Completes $85M Speculative Industrial Building in Metro Phoenix

by Amy Works December 7, 2018

GOODYEAR, ARIZ. — Lincoln Property Co. has completed Lincoln Logistics 40, an industrial building situated on 50 acres at Interstate 10 and Bullard Avenue in Phoenix’s West Valley. The 901,770-square-foot building is the area’s first-ever 40-foot clear height fully speculative industrial development. Located within The Airport Gateway at Goodyear, the building features 161 dock- and grade-level doors, 185 trailer storage units, 551 parking stalls (expandable to 1,340 stalls), fiber optic data and energy efficient clerestory windows in lieu of skylights. Additionally, the building offers move-in ready speculative suites with 3,202 square feet of fully built-out office space and high-end Class A finishes, 13-foot ceiling-to-floor glass, an outdoor amenity area and a functional interior layout with the ability to add office, conference room and administrative uses. The property also features a Foreign Trade Zone Magnet Site classification and direct access to the amenities of The Airport Gateway Center at Goodyear, which at build-out will include more than 2.5 million square feet of regional retail, hospitality, office and medical uses and 3 million square feet of industrial and warehouse space. The project team included Layton Construction and Butler Design Group. John Werstler, Rusty Kennedy and Cooper Fratt of CBRE are serving as …

December 7, 2018

Development Florida Industrial Southeast

Three Developers to Build 617,046 SF Spec Distribution Center in Central Florida

by Alex Tostado December 6, 2018

OCALA, FLA. — Red Rock Developments, Westport Capital Partners LLC and Wharton Industrial will build Florida Crossroads Logistics Center, a 617,046-square-foot speculative distribution center in Ocala. The 46-acre site is located about 35 miles south of Gainesville, and is situated approximately one hour from Tampa and Orlando, two hours from Jacksonville and four hours from Miami, allowing the facility to potentially service 14 million people with same-day deliveries. Deborah Mickler and David Wilson of Colliers International are listing the property, which is slated to open in the fourth quarter of 2019.

December 6, 2018

Development Multifamily New York Northeast

S3 Capital Partners Provides $75M Construction Loan for Apartment Tower in the Bronx

by David Cohen December 6, 2018

NEW YORK CITY — S3 Capital Partners has provided a $75 million construction loan for an apartment tower in the Mott Haven neighborhood of the Bronx. Located at 210 E. 135th St., the property will include 237 residential rental apartments and 3,000 square feet of commercial space. Isaac Filler of Meridian Capital Group represented the borrower, Cheskel Schwimmer of CGS Developers. Terms of the financing were not disclosed.

December 6, 2018

Company News Development New York Northeast Retail

IKEA to Open First Manhattan Store

by David Cohen December 6, 2018

NEW YORK CITY — IKEA U.S. has announced that it will open its first store in Manahattan. The ‘IKEA Planning Studio’ is slated to open at 999 Third Ave. in spring 2019. The Planning Studio concept will focus on smart solutions for urban living and small spaces. The New York City location is the first market in the U.S. for the concept. IKEA U.S. has recently made a number of investments to enhance its e-commerce offerings, including lower priced shipping & delivery, Click & Collect, financing and TaskRabbit assembly services. IKEA already has four locations in the metro area in Brooklyn, Elizabeth, Long Island and Paramus.

December 6, 2018

Development Midwest Mixed-Use Wisconsin

Commonwealth Development Completes $95M Mixed-Use Project Near the University of Wisconsin-Eau Claire

by Kristin Harlow December 6, 2018

EAU CLAIRE, WIS. — Commonwealth Development has completed a $95 million mixed-use project known as Confluence in Eau Claire. Located at the intersection of the Eau Claire and Chippewa rivers, the project consists of two buildings and a public plaza. The first building, completed in 2016, is Haymarket Landing. The $35 million, 235,000-square-foot building consists of 119 student housing units and 33,000 square feet of retail space. The second building, the Pablo Center at the Confluence, is a $60 million facility that includes a 1,229-seat theater, 400-seat black box theater, visitor’s center, innovation center and art gallery, as well as rehearsal rooms, recital halls and classrooms. The University of Wisconsin-Eau Claire and local arts organizations will share the Pablo Center. Market & Johnson served as the contractor.

December 6, 2018

Development Industrial Texas

JDC to Build 615,000 SF Distribution Center in Metro Dallas for Ollie’s Bargain Outlet

by Taylor Williams December 6, 2018

LANCASTER, TEXAS — Jones Development Co. (JDC) will build a 615,000-square-foot, build-to-suit distribution center in the southern Dallas metro of Lancaster for discount retailer Ollie’s Bargain Outlet, which will ultimately purchase the property. The Class A facility will be located within Wintergreen Exchange, a 71-acre industrial park, and is expected to be complete by the fourth quarter of 2019. Building features will include 36-foot clear heights, 75-foot speed bays, 100 dock doors, 14,500 square feet of office space and an ESFR sprinkler system. Gary Collett and David Eseke of Cushman & Wakefield marketed the property on behalf of JDC. John Van Buskirk of Lee & Associates, along with Sharon Morrison and Brad Struck of ESRP, represented Ollie’s Bargain Outlet in the deal. The project team is comprised of general contractor Bob Moore Construction, civil engineer Pacheco Koch and designer Alliance Architects.

December 6, 2018

Development Industrial Texas

Hanson Breaks Ground on 125,646 SF Spec Industrial Project in El Paso

by Taylor Williams December 6, 2018

EL PASO, TEXAS — Hanson Asset Management LP has broken ground on Hanson Spec Building B, a 125,646-square-foot industrial project located at 9581 Joe Rodriguez Drive in El Paso. The Class A property will be situated one block from the Zaragoza International Bridge and will be available for lease beginning in July 2019. CBRE is marketing the property on behalf of Hanson. Two additional buildings are planned next door for any future expansion requirements.

December 6, 2018

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