SCRANTON, PA. — Trammell Crow Co. has acquired a 90-acre site at the Valley View Business Park in Scranton. The company plans to build a 1 million square-foot speculative distribution facility on the site. The sales price was undisclosed. The building is scheduled for completion in the third quarter of 2019 and will feature 40-foot clear heights, 311 trailer parking spots, 277 car parking spots, 159 dock positions and ESFR fire protection. Trammell Crow purchased the site from the Scranton Lackawanna Industrial Building Co., the industrial development affiliate of the Greater Scranton Chamber of Commerce. CBRE Allentown was given the leasing assignment for the project.
Development
WINNETKA, ILL. — The Winnetka Village Council has given final approval to One Winnetka, a five-story retail-residential project in suburban Chicago. The development will be located adjacent to the city’s train station in the downtown area. David Trandel, CEO of both Springbank Capital Advisors LLC and Stonestreet Partners LLC, is the developer. Lucien Lagrange Studio is the architect. One Winnetka will offer 36 apartment units, 15 condominiums and seven townhome units, as well as 30,000 square feet of street-level commercial space and 355 parking spaces. The three-building project is slated for completion at the end of 2020.
Korean Battery Manufacturer to Invest Nearly $1.7B, Develop 2 MSF Plant in North Georgia
by Alex Tostado
JACKSON COUNTY, GA. — SK innovation, a developer and manufacturer of lithium-ion batteries for hybrid electric vehicles, will create more than 2,000 jobs and invest $1.67 billion in Jackson County by way of a new manufacturing plant. The project will be built in two phases, with each phase including about 1 million square feet of manufacturing space and housing more than 1,000 advanced manufacturing jobs. SK innovation is a part of SK Group, one of the largest conglomerates in South Korea, and employs more than 6,500 individuals worldwide. Its customers include Mercedes-Benz and Hyundai-Kia Motors. “SK innovation’s decision to make this significant investment and create more than 2,000 jobs in Jackson County reflects Georgia’s reputation as a top destination for international businesses, especially those in the automotive supply sector,” says Georgia Gov. Nathan Deal. A timetable for the Jackson County plant has not been established.
JACKSONVILLE, FLA. — Bristol Development Group and Hallmark Partners plan to develop Vista Brooklyn, a mixed-use project in Jacksonville that will include 308 apartments and 13,000 square feet of retail space. Located in Jacksonville’s Brooklyn neighborhood, the project will feature a dog park and rooftop pool for residents. Construction is expected to begin in January and wrap up in February 2021. Nashville-based Bristol and Jacksonville-based Hallmark originally partnered in 2012 to build the 220 Riverside apartments in Jacksonville.
LAS VEGAS — San Diego-based Matter Real Estate Group has broken ground on Matter Business Park @ Warm Springs, a light industrial office/warehouse project in Las Vegas’ southwest submarket. Situated on 10 acres at 7952 W. Warm Springs Road, the two-building project will feature a total of 132,450 square feet space across condominium-style units with flexible floorplans divisible to 6,000 square feet. Each unit will feature two dock doors and at-grade-level access. Additionally, second-story mezzanine, two dock-level doors and one at-grade door are available in select units. Completion is slated for July 2019. Project partners include Tectonics Design Group, Burke Construction Group, Slate Hanifan, Nuvis and Doherty Industrial Group/Colliers International as broker.
HENDERSON, NEV. — The Wolff Company, a Scottsdale-based private equity firm and multifamily developer, has opened the doors on Revel Nevada. Located in the Las Vegas suburb of Henderson, the three-story independent living property offers 146 units in a mix of one- and two-bedroom options. Clearwater Living will operate the community. The Wolff Company is currently developing numerous senior living communities throughout the country with plans to broaden its portfolio by investing $300 million to $400 million annually in the development of additional communities.
COTTAGE GROVE, MINN. — The Opus Group and Hillcrest Development LLLP have completed a 161,000-square-foot industrial build-to-suit on behalf of North Star Sheets in Cottage Grove. The producer of corrugated paper products will occupy the entire facility for its manufacturing needs. The rail-served building is the first within a 38-acre industrial development known as Southeast Industrial Park that is located just south of Highway 61. Hillcrest owns the site.
By Michael Prifti Technology is moving quickly across many different industries. Architects are now using emerging technology like virtual reality (VR) to improve experience for clients, tenants and the general public. An architecture firm can use VR to accomplish many different goals. VR can be used as both a design tool and a marketing tool. As a design tool, one can create impressive virtual mockups with the technology. To be used as a marketing tool, it is important to figure out the overall goals of the project, such as how interactive and immersive the VR models need to be. For example, higher quality VR models require higher computer processing power. In general, VR sets have become much more affordable, and jumping into this emerging technology doesn’t necessarily require a large investment. Today, VR headsets can be found for under $500, and the software has become so intuitive that nearly anyone can be taught how to produce very basic VR ready models in about 15 minutes. While two-dimensional renderings will likely never disappear, the use of virtual reality is becoming more widespread throughout the industry. 2D drawings or 3D models can give you a general idea of a building’s scale, but VR …
WASHINGTON, D.C. — Roadside Development and North America Sekisui House LLC (NASH) have announced that the redevelopment of Fannie Mae’s former headquarters in Washington, D.C. will be named City Ridge. The name originates from the site’s location on Wisconsin Avenue, a geological ridgeline that separates the two stream valleys of Rock Creek Park to the east and Foundry Branch to the west. The $640 million, 1.1 million-square-foot project will break ground Dec. 1. The site sits on 10 acres and is set to include 687 residential units and 100,000 square feet of office space in the historic building, plus 62,000 square feet of new office space, 153,000 square feet of retail space and more than 750 parking spaces. Grocery store chain Wegmans Food Markets will anchor City Ridge.
WEST COLUMBIA, S.C. — Miller-Valentine Construction has completed Midway Logistics III, a 200,000-square-foot speculative building in the Lexington County Industrial Park (LCIP) in West Columbia. The building is designed for multi-tenant, Class A distribution and light manufacturing. The facility, developed by Magnus Development Partners, features 21 dock doors, two drive-ins and entries for tenant offices. It was designed to allow for a shared dock truck court to support a future distribution facility on the adjacent lot. LCIP sits on 350 acres and is home to Midway Logistics I and II, Husqvarna, JanPak, Home Depot, Republic National Distributing Co., Scholastic Book Fairs and Garden State Lumber Corp.