Development

Fields Holdings Receives $64M Construction Loan for Student Housing Tower Near University of Washington

by Amy Works October 17, 2018

SEATTLE — Quantum Capital Partners has secured $64 million in construction financing for The M, a 24-story student housing development located near the University of Washington in Seattle. The property — developed by Los Angeles-based Fields Holdings — will offer studio, one-, two-, three- and four-bedroom units alongside 4,350 square feet of ground-floor retail and one level of subterranean parking. Shared amenities will include study rooms, a recreational lounge, fitness center, theater, indoor basketball court, roof-top deck, bicycle parking and a door man. A timeline for development has yet to be announced.

October 17, 2018

California Development Office Western

Wilshire Skyline, Kings Arch Break Ground for Adaptive Reuse of Office Building in Santa Monica

by Amy Works October 17, 2018

SANTA MONICA, CALIF. — Wilshire Skyline, in partnership with Kings Arch Inc., has broken ground on the restoration and adaptive reuse of a landmarked building located at 1305 Second St. in Santa Monica. KFA designed the renovation of the three-story building that was built in 1914. The project will provide new spaces for commercial office tenants. Exterior renovations will include adding ground-floor window awnings, providing new landscaping around the property and rehabilitating the exterior brick finishes and site paving. The existing windows will be rehabilitated, as well as the cornice and corbel details along the roofline of the building, which will be repainted and repaired as required. Additionally, a new roof deck area, providing an amenity for future commercial office tenants, will be created adjacent to the existing penthouse. The surface parking will be updated to provide two loading spaces, an accessible parking space and 10 tenant parking spaces.

October 17, 2018

Development Mixed-Use Texas

Endeavor to Develop 29-Story Mixed-Use Tower in Austin

by Taylor Williams October 17, 2018

AUSTIN, TEXAS — Endeavor Real Estate Group will develop 93 Red River, a 29-story mixed-use tower that will be located in the Rainey Street District near downtown Austin. According to austin.towers.net, the property will feature 18 floors of residential units, three floors of office space, seven levels of parking and 12,817 square feet of restaurant space. Austin-based Endeavor expects to complete the project by the third quarter of 2020.

October 17, 2018

Development Office Texas

Cawley Partners to Develop 168,000 SF Spec Office Building in Metro Dallas

by Taylor Williams October 17, 2018

COPPELL, TEXAS — Dallas-based Cawley Partners will develop The Braun on Belt Line, a 168,000-square-foot office building that will be located in Coppell, a northern suburb of Dallas. The four-story property, which marks Phase I of a larger office development, is being built on a speculative basis. Amenities will include a conference center, patio lounge and a fitness center. Gensler designed the project, which is slated for a third-quarter 2020 completion.

October 17, 2018

Affordable Housing Development Illinois Midwest Multifamily

Evergreen Real Estate Group Breaks Ground on 48-Unit Affordable Housing Community in Chicago

by Kristin Harlow October 17, 2018

CHICAGO — Evergreen Real Estate Group has broken ground on Oso Apartments, a 48-unit affordable housing community in Chicago’s Albany Park neighborhood. Located at 3435 W. Montrose Ave., the five-story building will house 32 one-bedroom units and 16 two-bedroom units. First move-ins are scheduled for late summer 2019. Of the 48 units, 32 will be set aside for renters on Chicago Housing Authority’s waiting list. The remaining 16 units will be reserved for households earning up to 60 percent of the area median income. Amenities will include a public plaza, community room, in-building laundry, bike storage and 22 parking spaces. Chicago-based Canopy Architecture + Design served as the project architect. Evergreen Construction Co., a division of Evergreen Real Estate Group, will construct the property.

October 17, 2018

Development Loans Massachusetts Multifamily Northeast Top Stories

JPMorgan Chase Provides $306.5M Construction Loan for St. Regis Residences in Boston

by David Cohen October 17, 2018

BOSTON — JPMorgan Chase Bank has provided a $306.5 million construction loan for The St. Regis Residences a 114-unit, waterfront multifamily project in Boston’s Seaport district. The 22-story tower, which will be located at 150 Seaport Blvd., will feature a twisting and angular design evoking billowing sails in a nod to its location. Every residence in the property will offer views of the Boston skyline or Boston Harbor. The residences will also include underground parking and a two-story restaurant. Amenities will include a swimming pool, spa, health club, library and golf simulator. HFF represented the developer, Cronin Development, in the transaction. HFF also advised Cronin in structuring a joint venture for $34.5 million with a private equity partner, the JCM Opportunity Fund I LLC, a subsidiary holding of Joyal Capital Management. “With its unique design and location, The St. Regis Residences, Boston will be unlike any residential development ever built in the City, serving as an iconic landmark on the Boston skyline,” said HFF senior director Brett Paulsrud. Condominium units at the St. Regis Residences will range from one-bedrooms to penthouse homes. The 208,000-square-foot project will also include around 10,000 square feet of retail space, according to the developer’s website. …

October 17, 2018

Development Industrial New Jersey Northeast

Liberty Property Trust Breaks Ground on 441,380 SF Industrial Facility in New Jersey

by David Cohen October 16, 2018

BURLINGTON, N.J. — Liberty Property Trust has broken ground on a 441,380-square-foot industrial facility in Burlington. Located at 160-180 Dulty’s Lane, the project will feature 36-foot clear heights, 54-foot by 55-foot column spacing, 88 dock doors, space for 105 trailers and 330 parking spaces. The facility, which Dishner Architects is designing, is slated for completion in the first quarter of 2019. The general contractor is Blue Rock Construction.

October 16, 2018

Development Industrial Leasing Activity Mississippi Southeast

Core5 Completes First Phase of 2.5 MSF Logistics Center in Metro Memphis

by Amy Works October 16, 2018

HORN LAKE, MISS. — Atlanta-based Core5 Industrial Partners has completed its first two inventory buildings at DeSoto 55 Logistics Center, a business park in Horn Lake, a Mississippi town within the greater Memphis market. Situated along the Interstate 55 corridor, the 175-acre business park will feature more than 2.5 million square feet of Class A space once fully developed. The first phase included Building A1, a 581,475-square-foot cross-dock facility that is expandable to more than 1 million square feet, and Building B, a 300,000-square-foot, rear-loading building. Core5 has preleased 200,000 square feet of space within Building B to DSV Solutions, a global provider of supply chain solutions to customers across multiple industries. DSV will utilize the entire 200,000 square feet of an existing client’s distribution facility serving the Eastern United States. Dan Wilkinson, Allen Wilkinson and Brad Kornegay of Colliers International represented Core5 in the lease transaction, as well as the entire development.

October 16, 2018

California Development Industrial Western

Ivanhoé Cambridge, CapRock Partners Break Ground on 3 MSF Logistics Complex in the Inland Empire

by Amy Works October 16, 2018

ONTARIO, CALIF. — Ivanhoé Cambridge and California-based CapRock Partners have broken ground on Phase I of Colony Commerce Center in Ontario. Located at the northeast corner of Carpenter and Remington avenues within the Inland Empire, Colony Commerce Center Phase I will feature 1.3 million square feet of industrial space. The first phase will be divided into two Class A industrial buildings of 589,000 and 700,000 square feet, both with 36-foot clear heights. Additionally, the phase will feature 185-foot-wide truck courts, cross-dock loading, 100 percent concrete drive areas and excess trailer parking stalls. The logistics complex is located in close proximity to corporate neighbors, such as Walmart, FedEx and Amazon, and is within a few miles of retail amenities. CapRock Partners will also develop Phase II of the logistics complex for the Ivanhoé Cambridge. The second phase is adjacent to the first phase on the southwest corner for Archibald and Merrill avenues and will include a 1 million-square-foot, LEED-certified building with 40-foot clear height that anchors eight additional small-box buildings ranging from 35,000 square feet to 45,000 square feet. The second phase will total approximately 1.7 million square feet. Construction on Phase II is slated to begin by year end.

October 16, 2018

Development Hospitality Midwest Ohio

98-Room Fairfield Inn & Suites Opens in Dayton, Ohio

by Kristin Harlow October 15, 2018

DAYTON, OHIO — Shaner Hotels has opened the 98-room Fairfield Inn & Suites in Dayton. Shaner operates and co-owns the select-service hotel in conjunction with Crawford Hoying. Located at 305 E. Monument Ave., the six-story hotel is situated between Fifth Third Field, home of the Class A minor league the Dayton Dragons, and Riverscape Metro Park. Hotel amenities include a fitness center, business center, on-site laundry facilities and complimentary Wi-Fi. Dining options include complimentary breakfast, a lobby bar and The Market, which offers snacks and drinks.

October 15, 2018

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