SAN ANTONIO — Regal Self Storage Development has acquired land at 12615 Judson Road near Interstate 35 in northeastern San Antonio for the construction of a new, Class A facility. Though subject to change, Phase I of the site plan proposed by the seller would deliver 704 units totaling 82,100 net rentable square feet. Phase II would expand the site by 10,800 gross square feet. Jon Danklefs and Michael Mele of Marcus & Millichap represented the seller, a limited liability company, in the land sale. A timeline for construction has not yet been established.
SAN FRANCISCO — A public-private partnership between American Campus Communities (ACC) and San Francisco State University has broken ground on a 584-bed student housing community with mixed-use components on the university’s campus in San Francisco. The development will offer fully furnished, apartment-style units. Shared amenities will include social and recreational lounges and an academic success center, alongside 15,000 square feet of retail space. The development, located on the southeast edge of campus, is scheduled for completion in 2020.
ARLINGTON, WASH. — AMWA Development Inc. has closed on a construction financing transaction for Cedar Pointe, a 255-unit affordable seniors housing community in Arlington, approximately 45 miles north of Seattle. Located on a four-acre site in the city’s Smokey Point neighborhood, the property will offer 175 one-bedroom units and 80 two-bedroom units, including a one-bedroom manager’s unit. All residents must be over the age of 55 and earning 60 percent or less of the area median income. Finance partners on the project include Washington State Housing Finance Commission, Hudson Housing Capital and Citi Community Capital. AMWA Construction will oversee the construction process, with a planned delivery of August 2020. FPI Management will operate the community. Cedar Pointe is the first real estate development project in Washington for AMWA Development, an independently owned and operated affiliate of AMCAL, a Southern California-based real estate developer.
CHARLOTTE, N.C. — Honeywell is set to relocate its global headquarters from Morris Plains, N.J., to Charlotte. The company will also move its Safety and Productivity Solutions headquarters from Fort Mill, S.C., to Charlotte. The Fortune 100 technology company plans to move 150 to 200 jobs from New Jersey to Charlotte and about 100 from South Carolina between now and September. The company also plans to add 500 corporate jobs before 2024. The move comes as part of the recently passed North Carolina Job Development Investment Grant that awards state and local incentives to companies. The News & Observer reports that the State of North Carolina will give Honeywell an incentive package of $42.5 million for the relocation. Honeywell specializes in industry specific solutions that include aerospace products and services, control technologies for buildings and industry and performance materials globally.
FREDERICK, MD. — St. John Properties has broken ground on three buildings within Arcadia Business Park in Frederick, about 50 miles west of Baltimore. The buildings will total 200,000 square feet when complete and represent Phase I of construction at the 61-acre industrial campus. Arcadia Business Park will total 600,000 square feet across eight buildings at full buildout. Phase I is expected to deliver in the summer.
FRANKLIN, TENN. — Mosby Cool Springs, a 328-unit apartment community in Franklin, is now open. The developer, Middleburg, manages the property. The development team includes architect of record and interior designer Humphreys & Partners, landscape architect Gamble Design Collaborative and civil engineer Kimley-Horn. Situated about 20 miles south of Nashville in the metro’s Cool Springs district, Mosby Cool Springs’ floor plans include studio, one- and two-bedroom options. Amenities include a fitness center; clubhouse with game room, event space, study and conference rooms, and a coffee bar; swimming pool and plunge pool; on-call massage therapist; dog park and spa; car care center; and package acceptance with locker system.
NEW YORK CITY — SL Green Realty Corp. has announced plans to redevelop One Madison Avenue, a Class A office tower in the Midtown South neighborhood of Manhattan. The adaptive-reuse project will involve reducing the existing building to its ninth floor and building 18 additional stories above. When completed, the building will span nearly 1.5 million square feet. The addition will feature modern office space and tenant specialty floors as well as more than an acre of outdoor terraces. Demolition and construction are expected to start in 2020 following the expiration of existing tenant leases. A design and development team of Kohn Pedersen Fox, Hines and Gensler has been selected for the project.
TULSA, OKLA. — The Pizzuti Cos., a Columbus, Ohio-based development firm, has broken ground on a $55 million, 800,000-square-foot warehouse and distribution center in Tulsa for Whirlpool Corp., a Michigan-based manufacturer of home appliances. ARCO Construction Co. Inc. is handling the design/build of the facility, which will be situated next to a manufacturing plant that produces 2.1 million cooking products per year. Construction of the facility began in late November and completion is slated for December 2019.
CYPRESS, TEXAS — Houston-based investment firm Williamsburg Enterprises has completed the redevelopment of North Cypress Landing, a 70,000-square-foot retail center in Cypress, a northwestern suburb of Houston. Williamsburg has executed leases with Star Furniture & Mattresses and Landmark Industries to bring the redeveloped center to full occupancy. Star Furniture & Mattresses, which is owned by Berkshire Hathaway, is expected to open its store in the first quarter of 2019. Nick Hernandez and Crystal Allen of Transwestern represented Star Furniture in the lease negotiations, while Neal Wade and Lunden McGill of Baker Katz represented Landmark Industries. Jeff Warwick represented Williamsburg Enterprises internally.
GAINESVILLE, GA. — Georgia Ports Authority will develop a new 104-acre inland port in Gainesville. Currently, containers moving by truck travel 600 miles roundtrip to and from the Port of Savannah. When the new rail yard opens, drivers will be able to make shorter trips from area manufacturers and distribution facilities to the northeast Georgia site. The port is slated to be complete in 2021. Gainesville is located along Interstate 985, about 55 miles northeast of Atlanta. In conjunction with the port announcement, Auto Metal Direct, a distributor of auto body panels and trim for classic cars and trucks, announced it will open a 318,000 square-foot distribution and fulfillment center near the port. Construction will begin soon, and upon completion, the $15 million development will bring 40 jobs to Hall County.