Development

State Farm Arena in Downtown Atlanta Opens After $192M Renovation, Rebranding Program

by Amy Works October 26, 2018

ATLANTA — State Farm Arena, located at 1 State Farm Drive in downtown Atlanta, has opened its doors following a $192 million renovation program, the second largest renovation in NBA history. The Atlanta Hawks Basketball Club committed to an 18-year lease extension to remain in downtown Atlanta at the city-owned arena through 2046. The former Philips Arena features the NBA’s third-largest center-hung scoreboard and fan-friendly food pricing. Restaurant and entertainment options include Zac Brown’s Social Club, Topgolf Swing Suites, Killer Mike’s Swag Shop and a baseline bar and club known as Courtside Club. The Atlanta Hawks celebrated the arena with its home opener against the Dallas Mavericks on Wednesday, Oct. 24. With a sold-out crowd, the Hawks beat the Mavericks 111 to 104. The arena hosts approximately 200 events and nearly 2 million guests annually.

October 26, 2018

Development Florida Multifamily Southeast Student Housing

Capstone Delivers 1,300-Bed Student Housing Project at University of South Florida

by Amy Works October 26, 2018

TAMPA, FLA. — Birmingham, Ala.-based Capstone Development Partners has completed the second phase of the Village, an on-campus student housing development at the University of South Florida in Tampa. The second phase of the 2,171-bed mixed-used community features 1,300 beds in three residential buildings. Community amenities include living-learning and activity spaces, classrooms, study rooms and community kitchens, as well as retail space occupied by Starbucks Coffee and BurgerFi. The Village primarily serves first-year students.

October 26, 2018

Company News Development Georgia Office Southeast

BlackRock to Open Innovation Hub in Atlanta, Creating 1,000 Jobs

by Amy Works October 26, 2018

ATLANTA — BlackRock, an asset management firm and a technology solutions provider, has selected Atlanta for the company’s newest Innovation Hub. The company plans to expand its presence in Fulton County, partner with the Atlanta business community and local universities and create 1,000 career opportunities over the next several years. This expansion will extend BlackRock’s technology capabilities, as well as provide close proximity to Georgia Tech, where BlackRock sponsors the BlackRock Hallac Scholarship for socioeconomically disadvantaged students pursuing degrees in science, technology, engineering and math (STEM). “Atlanta’s culture of collaboration with public and private stakeholders bolsters our region’s economy, creates well-playing jobs and expands economic opportunity,” says Atlanta Mayor Keisha Lance Bottoms. “The opening of BlackRock’s Atlanta Innovation Hub continues this legacy, and we look forward to welcoming and working with them.” According to Dr. Eloisa Klementich, president and CEO of Invest Atlanta, the technology business expansions in Atlanta in 2018 alone are projected to create an economic impact of $500 million, as the companies create thousands of new jobs and millions of dollars of capital investment.

October 26, 2018

Development Florida Retail Southeast

West Villages, Sembler Break Ground on Publix-Anchored Shopping Center in Southwest Florida

by Amy Works October 26, 2018

NORTH PORT, FLA. — A joint venture between West Villages and The Sembler Co. has broken ground on West Villages Marketplace, a grocery-anchored neighborhood shopping center at the corner of West Villages Parkway and U.S. 41 in North Port, a city in south Sarasota County. A 47,000-square-foot Publix will anchor the 105,000-square-foot retail plaza, which is slated to open in fall 2019. Additional tenants will include a mix of services and restaurants. The shopping center is the first retail node to be integrated into the West Villages Florida, a master-planned community that features single-family neighborhoods, schools, State College of Florida-Venice, a wastewater treatment plant and the new $125 million spring training facility for the Atlanta Braves.

October 26, 2018

Development Leasing Activity Office Southeast Virginia

KPMG to Move to 20-Story Office Tower Under Construction in Tysons, Virginia

by Amy Works October 25, 2018

TYSONS, VA. — KPMG, one of the world’s Big Four accounting firms, has signed a lease to occupy up to seven floors of The Boro, an under construction 20-story office tower in Tysons. The Meridian Group and Rockefeller Group are co-developing the tower, with Skanska constructing the Gensler-designed building. KPMG plans to relocate approximately 1,830 employees from its current office at 1676 International Drive in Tysons to the new property in 2019. The move brings preleasing to more than 60 percent ahead of construction completion, with approximately 178,000 square feet remaining at the tower. Additional committed tenants include Hogan Lovells, a global law firm, TEGNA, Whole Foods Market and Kerasotes Showplace Theatres. Situated on 15 acres, the transit-oriented property will feature office, retail, restaurant and outdoor space. The LEED Gold-designed tower features nine- to 10-foot ceilings, efficient floorplans and a rooftop terrace. Rob Faktorow and Terry Reiley of CBRE represented the landlords, while Phil Leibow and Bill Craig of JLL represented KPMG in the lease.

October 25, 2018

Development Mixed-Use Texas

City Council Approves 80-Acre Mixed-Use Project in Metro Austin

by Taylor Williams October 25, 2018

BEE CAVE, TEXAS — The Bee Cave City Council has approved the latest phase of development of Village at Spanish Oaks, an 80-acre mixed-use project that will be located along State Highway 71 in Bee Cave, a northwestern suburb of Austin. The project represents the final phase of Spanish Oaks, a 1,200-acre master-planned development by CCNG Inc. and Greenbrier Southwest Corp. Preliminary plans call for office, retail, restaurant, hotel and residential components. According to The Austin American-Statesman, construction of the buildings is expected to begin in 2020.

October 25, 2018

California Development Florida Massachusetts Multifamily Student Housing Washington Western

Capstone Development Opens Three Student Housing Communities in California, Seattle Totaling 980 Beds

by Amy Works October 25, 2018

BIRMINGHAM, ALA. — Birmingham-based Capstone Development Partners has opened five on-campus student housing communities totaling 3,000 beds, including two in California and one in Seattle. Development costs reached $350 million, $150 million of which was financed using private equity, with the remaining $200 million financed through a 501(c)3 nonprofit owner or a university using tax-exempt debt. Properties include Montage on College at San Diego State University in San Diego; Calaveras Hall at the University of the Pacific in Stockton, Calif.; Vi Hilbert Hall at Seattle University in Seattle; The Village Phase 2 at The University of South Florida in Tampa, Fla.; and the University of Massachusetts Boston Residence Hall and Dining Center in Boston. Montage on College at San Diego State University was built through a ground lease with the San Diego State University Real Estate Foundation. The property offers more than 300 beds of apartment-style housing. Community amenities include a resort-style spa, barbecue area, outdoor lounge and fire pit, community kitchen, fitness center, gaming and media room, and various study spaces. Capstone Development Partners’ management entity, Capstone Management Partners, operates the property. Calaveras Hall at the University of the Pacific offers 380 beds tailored to upper-level students. Shared amenities …

October 25, 2018

California Development Industrial Office Western

Dempsey Construction Completes Redevelopment of Office/Warehouse Complex in San Diego

by Amy Works October 25, 2018

SAN DIEGO — Dempsey Construction, on behalf of owner LBA Realty, has completed the redevelopment of a five-building project, located at 4400 Ruffin Road in San Diego’s Kearny Mesa submarket. Formerly occupied by Pratt & Whitney, the office and aerospace complex has been converted to a modern office and warehouse property. The project involved the demolition of a 102,000-square-foot building and the renovation of the adjacent two-story, 130,000-square-foot office buildings to include showcase lobbies and entrances, as well as structural enhancements. Additionally, a 106,000-square-foot tilt-up warehouse was constructed to feature 33-foot clear heights and 28 truck docks with roll-up doors.

October 25, 2018

Development Massachusetts Mixed-Use Northeast Top Stories

MP Boston Begins $1.35B Mixed-Use Tower in Downtown Boston, City’s Largest Private Investment in History

by John Nelson October 25, 2018

BOSTON — MP Boston, a local mixed-use and residential developer, broke ground Wednesday on Winthrop Center in downtown Boston. The $1.35 billion mixed-use development represents the largest private investment for a single project in Boston’s history. The site was formerly owned by the City of Boston and housed the Winthrop Square Garage. Set for a spring 2022 completion, Winthrop Center will feature 750,000 square feet of office space, 420 condominiums, retail and restaurants, as well as a public gathering space. The tower will rise 691 feet tall, making it the fourth-largest tower in Boston. At the base of Winthrop Center will be the Great Hall, an open civic space available to the public. The center will also feature an open mid-block alley between Winthrop Square/Downtown Crossing and Federal Street/the Financial District. Handel Architects LLP and Steven Winter Associates Inc. designed the tower to achieve LEED Platinum certification with hopes to also be a certified Passive House Pilot Project. Begun by Germany-based research organization Passivhaus Institut, Passive House is the only internationally recognized energy standard in commercial construction. If achieved, Winthrop Center would be the largest Passive House office building in the world. MP Boston is developing the tower in conjunction …

October 25, 2018

Development Multifamily Texas

Wood Partners Opens 361-Unit Apartment Community in Fort Worth

by Taylor Williams October 24, 2018

FORT WORTH, TEXAS — Multifamily investment and development firm Wood Partners has opened Alta Waterside, a 361-unit multifamily community in Fort Worth. The property, which features one-, two- and three-bedroom units, is located within a larger mixed-use development called Waterside, which is anchored by a Whole Foods Market and features an array of retailers. Alta Waterside’s amenities include a pool, kitchen-style bar, clubhouse, conference room, cyber lounge, fitness center and hiking trails.

October 24, 2018

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