Development

CapitalSouth Provides $41.1M Construction Loan for Multifamily Property in Las Vegas

by Amy Works November 12, 2018

LAS VEGAS — CapitalSouth, a division of Pacific Western Bank, has provided a $41.1 million construction loan for the development of Tuscan Highlands, a multifamily property located in Las Vegas’ Southern Highlands submarket. The property will be situated on 15.2 acres at the southwest corner of St. Rose Parkway and Interstate 15. The 26-building community will feature 304 market-rate apartments units in a mix of one- and two-bedroom studio flats, medium flats, large flats, carriages, lofts and townhomes. Residents of Tuscan Highlands will have access to an exclusive two-story resort hall and restaurant, which will hold up to 150 people. The resort hall and restaurant will feature a private events room, booths, lounge seating, high and low tables, salon, poker room, banquet room, dry cleaning, office space and a full bar. Jonathan Lee of George Smith Partners arranged the financing for the borrower, Watt Cos. and Schulman Properties.

November 12, 2018

Development Industrial New Mexico Self-Storage Western

ARCO/Murray Design Build Completes 101,000 SF Self-Storage Facility in New Mexico

by Amy Works November 12, 2018

SANTA FE, N.M. — ARCO/Murray Design Build has completed the construction of Rodeo Park Self Storage, a self-storage facility in Santa Fe, for Titan Development. Extra Space Storage will operate the two-story, 101,000-square-foot facility, which is fully climate controlled. ARCO/Murray provided a complete design-build solution for the project, including architectural and engineering design, permitting and construction. Logan Castille of ARCO/Murray served as project manager, and Matt Pitzen, also of ARCO/Murray, served at project superintendent.

November 12, 2018

Development Illinois Midwest Multifamily

Holland Construction Breaks Ground on $34M Apartment Community in Edwardsville, Illinois

by Kristin Harlow November 12, 2018

EDWARDSVILLE, ILL. — Holland Construction Services has broken ground on a $34 million apartment community known as Whispering Heights in Edwardsville, located near St. Louis. Fireside Financial is the developer. The community will feature two six-story buildings with a total of 153 luxury units. The development will also include 18,000 square feet of retail and restaurant space. Additional features include a fitness center, business center and rooftop amenity deck with grilling stations, fire pits and a bar area. Completion is slated for fall 2019. Gray Design Group is the project architect. David Garfinkel of NorthMarq Capital arranged a $21.8 million construction loan for the project through Illinois National Bank.

November 12, 2018

Development Illinois Midwest Office

Skender Begins Interior Construction of Vital Proteins Headquarters in Chicago’s Fulton Market

by Kristin Harlow November 12, 2018

CHICAGO — Skender is underway with the interior construction of the future 40,000-square-foot headquarters for Vital Proteins, a retailer of health supplement products. The company is assuming full occupancy of the four-story building at 939 W. Fulton St. and relocating 130 employees from its current office at 1201 W. Washington Blvd. The company’s new space will include open office workstation areas as well as private offices and conference rooms, two reception areas and a large café. The interior design will retain the historic building’s high ceilings, exposed brick walls and wood floors. Completion is slated for July 2019. SCB and JLL are project partners.

November 12, 2018

California Development Restaurant Retail Western

Sunset Development Opens 300,000 SF Shopping Center in San Ramon, California

by Amy Works November 9, 2018

SAN RAMON, CALIF. — Sunset Development Co. has opened City Center Bishop Ranch, a shopping, dining, entertainment and community development located in San Ramon’s Bishop Ranch area. Designed by Renzo Piano Building Workshop and BAR Architects, the 300,000-square-foot regional shopping center will feature 70 stores and restaurants at full occupancy. THE LOT, a 10-screen cinema and dining destination, and Equinox San Ramon, a whole-body personal fitness, training and yoga center, anchor the property. The second location of The Slanted Door, a Vietnamese-inspired eatery, occupies a freestanding, all-glass structure at the center. Currently open tenants include AlysGrace, Boba Guys, Candle Delirium, Fieldwork Brewing Co., M by Maggie Rizer, NEEKO, On the EDGE, Pottery Barn, Starbucks Coffee, West Elm and Williams-Sonoma. Stores slated to open in the coming months include Anthropologie, Athleta, Equinox San Ramon, Heller Jewelers, KIN THE LABEL and Monokrome. Signed restaurants include C CASA, Curry Up Now, Delarosa, Gio Gelati, Joe & The Juice, Mendocino Farms, MIXT, Ramen Hiroshi, Roam, SOCIAL-AFFAIR, THE LOT and The Slanted Door. Sunset Development Co. owns and operates the property.

November 9, 2018

Arizona Development Healthcare Office Western

MedProperties Breaks Ground on 56,000 SF Medical Office Building in Gilbert, Arizona

by Amy Works November 9, 2018

GILBERT, ARIZ. — Chicago-based MedProperties Group has broken ground on Mercy Medical Commons II, a medical office building located on Mercy Road adjacent to the main entrance of Dignity Mercy Gilbert Medical Center in Gilbert. Designed by Ware Malcomb, the three-story, 56,000-square-foot building will feature a 55-foot high-curved fin wall with integrated steel shade canopies, while the western curved façade will open to parking and a porte-cochere arrival area. The CORE Institute will occupy 20,000 square feet of the property, which is slated for completion in third-quarter 2019. Balfour Beatty US is serving as general contractor for the property. Philip Wurth of Colliers International in Greater Phoenix is serving as the leasing agent for the development, which is MedProperties’ first ground-up development in the East Valley area.

November 9, 2018

Development Hospitality Texas

Northland Properties Opens 233-Room Sandman Hotel in Metro Dallas

by Taylor Williams November 9, 2018

PLANO, TEXAS — Northland Properties Corp., a Canadian firm that owns hotel chains, restaurants and sports teams, has opened Sandman Signature Plano-Frisco, a 233-room hotel located on the northern outskirts of Dallas. The property is situated near Dr. Pepper Arena, home of the Dallas Stars hockey team, as well as The Star, the Dallas Cowboys’ headquarters in Frisco. The hotel’s amenities include a pool, fitness center and multiple onsite bars and restaurants.

November 9, 2018

Development Office Texas

AQUILA to Develop 63,297 SF Office Property in Metro Austin

by Taylor Williams November 9, 2018

CEDAR PARK, TEXAS — AQUILA Commercial will develop Cross Creek Landing, a 63,297-square-foot office project that will be located in the northern Austin metro of Cedar Park. The three-story building will be situated near The Grove mixed-use development and will offer onsite showers and a 5:1 parking ratio. Austin-based Runa Workshop is designing the project, which is slated for an early 2020 delivery. AQUILA will also handle leasing of Cross Creek Landing.

November 9, 2018

Alabama Development Georgia Retail Southeast

Watkins Real Estate Develops Two Publix-Anchored Shopping Centers in Georgia, Alabama

by Amy Works November 9, 2018

BUFORD, GA., AND NORTHPORT, ALA. — Atlanta-based Watkins Real Estate Group has developed two Publix-anchored neighborhood retail centers in the suburbs of Atlanta and Tuscaloosa, Ala., totaling more than 126,000 square feet. Located in Buford, Holland Point is a 68,600-square-foot center along the city’s Quality Development Corridor on Hamilton Mill and Bogan roads. The property has nearly 20,000 square feet of inline space available, as well as three one-acre outparcels. Bristol Park, located at the intersection of Highway 69 and Mitt Lary Road in Northport, is a 56,800-square-foot center that features two available outparcels and 10,500 square feet of available shop space.

November 9, 2018

Development Illinois Industrial Midwest

Cushman & Wakefield to Complete Lease-Up of 1 MSF Industrial Development in Chicago

by Kristin Harlow November 9, 2018

CHICAGO — Cushman & Wakefield has been selected by Hilco Redevelopment Partners to complete lease-up of Exchange 55, which is currently under development. The 1 million-square-foot warehouse is the largest new industrial development available in Chicago, according to Cushman & Wakefield. The planned development is a fully entitled and zoned for industrial use. Hilco plans to break ground immediately, with completion slated for the first quarter of 2020. The development is intended to attract a variety of users from e-commerce and manufacturing to food and cold storage and rail users. The project, located within Chicago’s Little Village neighborhood, will feature a clear height of 40 feet, 70-foot speed bays, multiple access points and options for parking expansion.

November 9, 2018

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