Development

JV to Develop 568,000 SF Office Campus for Hewlett Packard Enterprise in Metro Houston

by Taylor Williams November 1, 2018

SPRING, TEXAS — A joint venture between Patrinely Group, USAA Real Estate and CDC Houston will develop Hewlett Packard Enterprise’s (HPE) new 568,000-square-foot office campus in metro Houston. The property will be located within CityPlace, a 60-acre mixed-use development in the northern Houston suburb of Spring. Amenities may include a fitness center, café and an open courtyard. The developers plan to break ground during the fourth quarter. HPE is a Palo Alto-based information technology firm that was founded in 2015 as part of the splitting of Hewlett-Packard into two firms — HPE and HP Inc., the Los Angeles-based manufacturer of printers, PCs and mobile devices.

November 1, 2018

Development Office Texas

Joint Venture to Build 165,000 SF Office Property on Highlander Hotel Site in Austin

by Taylor Williams November 1, 2018

AUSTIN, TEXAS — A joint venture between the owners of the former Highlander Hotel and the family of former Austin mayor Roy Butler will develop Midtown Point, a 165,000-square-foot office property. The property will be situated on 2.5 acres at the site of the Highlander Hotel, which will be demolished. The project is currently in the design and permitting stages, with delivery slated for 2021. AQUILA Commercial will handle leasing and management of the building.

November 1, 2018

DeSoto-Transitional-Rehabilitation-Center

Development Multifamily Seniors Housing Texas

Madison Marquette Breaks Ground on 55,000 SF Skilled Nursing Facility in Metro Dallas

by Taylor Williams November 1, 2018

DESOTO, TEXAS — Madison Marquette, which recently merged with PMRG, has broken ground on DeSoto Transitional Rehabilitation Center, a 55,000-square-foot skilled nursing facility in DeSoto, a southern suburb of Dallas. HMG Healthcare will operate the 100-bed facility, which is being developed in partnership with Global Health LLC and an associated group of multidisciplinary physicians and operation specialists. Completion is slated for the fourth quarter of 2019.

November 1, 2018

Development Retail Texas

Sprouts Farmers Market Nears Completion of 30,000 SF Store in Metro Houston

by Taylor Williams November 1, 2018

SUGAR LAND, TEXAS — Phoenix-based grocer Sprouts Farmers Market is nearing completion of construction of its 30,000-square-foot store in Sugar Land, a southwestern suburb of Houston. The official opening is slated for Jan. 16, 2019. The store, located at 13550 University Blvd., is expected to create approximately 140 new jobs upon opening.

November 1, 2018

Development Illinois Midwest Multifamily

Construction Underway for 153-Unit Apartment Project in Skokie, Illinois

by Kristin Harlow November 1, 2018

SKOKIE, ILL. — W.E. O’Neil Construction is underway on the construction of 8000 North, a 153-unit apartment project in Skokie. The 12-story, 318,000-square-foot property will include 15,000 square feet of retail space as well as a top-floor amenity space and rooftop garden. Units will range in size from 535 square feet for studios to 1,614 square feet for penthouse units. Monthly rents are projected to start at $1,400. The development team, including architect Lucien Lagrange Studio, worked with the village of Skokie to utilize $5.9 million in tax-increment financing for environmental remediation and site preparation of the property. The first residents are expected to move into the property by December 2019.

November 1, 2018

Company News Development Retail Utah Western

Best Buy to Open its First New U.S. Store in Seven Years in Farmington, Utah

by Amy Works November 1, 2018

FARMINGTON, UTAH — Best Buy has opened its first new U.S. store in seven years at Station Park in Farmington. The 36,000-square-foot retail property features a variety of appliances, premium audio and home theater technology, and other products. The store employs 91 people and plans to hire additional employees for the holiday season. The company operates more than 1,000 stores across the United States, Canada and Mexico.

November 1, 2018

Development Michigan Midwest Mixed-Use

Bedrock Releases New Renderings for Hudson’s Site in Detroit

by Kristin Harlow October 31, 2018

DETROIT — Bedrock has released new renderings featuring an updated tower design for its development of the former J.L. Hudson department store site in Detroit. The tower is now slated to rise 912 feet and include 1.4 million square feet of retail, office, hotel, residential and public space. The new design features stepped tiers, which “allow for terraces for amenities and possible hospitality spaces,” according to SHoP Architects, the project architect. Bedrock, the real estate arm of businessman Dan Gilbert, founder of Quicken Loans, broke ground on the project in December 2017. Completion is slated for December 2020. The department store closed in 1984 and was imploded in 1998.

October 31, 2018

Development Illinois Midwest Office

Summit Breaks Ground on Five-Story Boutique Office Building in Chicago

by Kristin Harlow October 31, 2018

CHICAGO — Summit Design + Build LLC has broken ground on 1040 West Fulton, a five-story, 29,000-square-foot boutique office building in Chicago. Summit plans to occupy the top two floors of the property following its completion next fall. This leaves roughly 14,000 square feet of office space and 2,800 square feet of retail space for lease. The property will include 17 indoor parking spaces, a fifth-floor outdoor terrace and a sixth-floor rooftop. The project team includes architect Hartshorne Plunkard Architecture, owner’s representative Carr Realty Advisors, structural engineer IMEG Corporation, civil engineer Weaver Consultants Group and MEP engineer WT Engineering. Chad Schroedl, Scott Maesel and Drew Dillon of SVN Commercial Chicago will market the available space for lease. First Bank of Highland Park is providing construction financing.

October 31, 2018

Development Industrial Maryland Southeast

CREG Breaks Ground on 350,000 SF Speculative Industrial Development Near Baltimore

by Amy Works October 31, 2018

HARFORD COUNTY, MD. — Chesapeake Real Estate Group (CREG), on behalf of TA Realty, has broken ground on a two-building warehouse/industrial project within Trimble Road Business Park in the Edgewood submarket of Harford County, approximately 30 miles northeast of Baltimore. Having acquired the site from CREG in 2018, TA Realty is moving forward with the construction of a 210,000-square-foot speculative facility at 102 Fulfillment Drive and a 140,450-square-foot building at 103 Fulfillment Drive. AGCO, a designer, manufacturer and distributor of agriculture equipment and solutions, has preleased 50,000 square feet of space within 103 Fulfillment Drive, representing 35 percent of the building’s capacity. Slated for delivery in 2019, both buildings will feature concrete tilt-up construction, 32-foot clear ceiling heights and 7-inch unreinforced concrete floor slabs to accommodate heavy loads. The facility at 102 Fulfillment Drive will feature 18 dock doors and two drive-in doors.

October 31, 2018

Acquisitions Development Industrial Kentucky Self-Storage Southeast

Ziff Properties Acquires Warehouse in Lexington for Self-Storage Conversion

by Amy Works October 31, 2018

LEXINGTON, KY. — Ziff Properties has purchased the former Golden Burley Tobacco Warehouse and Building Materials Warehouse located on Angliana Avenue in Lexington for an undisclosed price. Fred Pfister of Silvestri Craig Realtors facilitated the transaction. The name of the seller and sales price were not released. Ziff Properties plans to convert the property, which is situated on 3.5 acres, into a Class A self-storage facility with 103,500 square feet of climate- and non-climate-controlled units. CubeSmart Self Storage will manage the asset.

October 31, 2018

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