Development

Clearline Obtains $95M in Construction Financing for Excel Miami Multifamily Development

by John Nelson November 19, 2024

MIAMI — Clearline Real Estate, a multifamily development firm with offices in New York City and Miami, has obtained $95 million in financing for the construction of Excel Miami, a 24-story apartment tower. Clearline is developing the 427-unit apartment community at 1550 N.E. Miami Place in the city’s Arts & Entertainment District. The financing includes a $68.5 million senior loan from Centennial Bank and a $26 million mezzanine loan from Southern Realty Trust Inc., which syndicated $13 million to affiliate firm Sunrise Realty Trust. Designed by Arquitectonica, Excel Miami will offer studio, one- and two-bedroom apartments, as well as 13 townhouse loft units. Amenities will include a pool, yoga deck, fitness room, coworking space, screening room and podcast suites. The construction timeline was not released.

November 19, 2024

Development Illinois Midwest Multifamily Top Stories

High Street Residential Completes 34-Story Flora Multifamily Tower in Chicago’s Fulton Market

by Katie Sloan November 19, 2024

CHICAGO — High Street Residential, the residential subsidiary of Trammell Crow Co., has completed Flora, a multifamily tower rising 34 stories in Chicago’s Fulton Market neighborhood. The community offers 368 luxury units in a mix of studio, one-, two- and three-bedroom configurations alongside penthouse units with condominium-like finishes. Interior amenities include a clubroom, golf and game simulator room, fitness center and yoga studio, private dining space with a chef’s kitchen, dedicated work-from-home areas and a sound recording booth. Flora also features an outdoor amenity deck on the second floor with grilling stations, outdoor televisions and fire pits; a rooftop swimming pool with cabanas; and a dog run and pet washing station. The ground floor is home to 5,118 square feet of retail space, which will be occupied by a restaurant concept by celebrity chef Joe Flamm via local restaurant group Day Off Group. Slated to open in 2025, the restaurant’s name and concept will be announced at a later date. Andrew Becker of Canvas represented High Street Residential in leasing negotiations. The community is part of Trammell Crow’s larger Fulton Park Campus, which includes two existing research and development properties at 400 N. Aberdeen St. and 1375 W. Fulton Market. …

November 19, 2024

Development Industrial Kentucky Southeast

Stellar Snacks Opens $137M Pretzel Bakery Operation in West Louisville

by John Nelson November 18, 2024

LOUISVILLE, KY. — Stellar Snacks, a snack manufacturer based in Carson City, Nev., has officially opened its new $137 million pretzel bakery in west Louisville. The company held a ribbon cutting ceremony attended by various dignitaries, including Kentucky Gov. Andy Beshear and Louisville Mayor Craig Greenberg. The new Stellar Snacks factory is located within an existing 434,000-square-foot industrial building at 1391 Dixie Highway. The factory will create 350 full-time jobs over the next 10 years, which makes it the largest economic development project in west Louisville over the past 20 years. Stellar Snacks currently operates its original 101,000-square-foot facility in Carson City, where it employs more than 170 people. The company was founded in 2019 by mother-daughter duo Elisabeth and Gina Galvin, making Stellar Snacks the first woman-owned pretzel manufacturer in the United States. The pretzel maker distributes products to more than 5,000 grocery and retail stores nationwide.

November 18, 2024

Development Industrial South Carolina Southeast

Portman, CapitaLand Ascendas REIT Break Ground on 549,000 SF Industrial Park Near Charleston

by John Nelson November 18, 2024

SUMMERVILLE, S.C. — A partnership between Portman and CapitaLand Ascendas REIT has broken ground on Summerville Logistics Center, a two-building industrial campus located along U.S. Highway 78 in Summerville, a Charleston suburb within Dorchester County. The site will include two rear-load facilities — one 313,000 square feet and the second 236,000 square feet — with a shared truck court that will be constructed simultaneously. The park will be situated near I-26 and roughly 25 miles from the Port of Charleston. Truist Bank is providing an undisclosed amount of construction financing, and Lee & Associates will lead the leasing efforts for Summerville Logistics Center. The project team also includes general contractor Frampton Construction, civil engineer Seamon Whiteside and architect McMillan Pazdan Smith. Portman and CapitaLand Ascendas REIT plan to deliver Summerville Logistics Center by the end of 2025.

November 18, 2024

Development Industrial Texas

AP Construction Completes 908,300 SF Industrial Project in Fort Worth

by Taylor Williams November 18, 2024

FORT WORTH, TEXAS — Adolfson & Peterson (AP) Construction has completed Mid Cities Logistics, a 908,300-square-foot industrial project in southeast Fort Worth. Designed by metro Dallas-based Alliance Architects, Mid Cities Logistics comprises five buildings on a 65-acre site at the intersection of Buttercup Lane and Boswell Drive. All five buildings can support storage, distribution and light manufacturing uses. Construction began in early 2023. An entity doing business as Mid Cities Logistics LLC owns the property.

November 18, 2024

Acquisitions Development Retail Texas

H-E-B Acquires Land in Mesquite, Texas for New Grocery Store

by Taylor Williams November 18, 2024

MESQUITE, TEXAS — Texas-based H-E-B has acquired land in Mesquite, an eastern suburb of Dallas, for the development of a new grocery store. The multi-parcel assemblage is located at the intersection of I-20 and FM 741. Ryan Turner, David Davidson Jr. and Edward Bogel of Davidson Bogel Real Estate represented the undisclosed seller in the land deal. Ben Hines and Tim Henson of Venture Commercial represented H-E-B. Details on the size and construction timeline of the new store were not disclosed.

November 18, 2024

Civic Development Midwest North Dakota

Kraus-Anderson Completes $116M High School in Minot, North Dakota

by Kristin Harlow November 18, 2024

MINOT, N.D. — Kraus-Anderson has completed construction of a $116 million high school located at 2000 21st Ave. NW in Minot, a city in central North Dakota. The school opened its doors to approximately 1,000 students and teachers in August. Construction lasted two years. The project involved the redevelopment of a former call center that was owned by Cognizant before it sold to the school district. Kraus-Anderson renovated the building into classrooms and offices and constructed a connecting addition. Designed by Ackerman-Estvold, the 275,259-square-foot school features music and tech classrooms, gymnasiums and a kitchen and cafeteria. Outside, the school includes a turf field stadium with a track and grass practice fields. Construction on a pool and auditorium is slated for completion in December.

November 18, 2024

Development Illinois Industrial Midwest

DSI Breaks Ground on 200,000 SF Warehouse Expansion for Frain Industries in Carol Stream, Illinois

by Kristin Harlow November 18, 2024

CAROL STREAM, ILL. — Development Solutions Inc. (DSI) has broken ground on a 200,000-square-foot warehouse expansion for Frain Industries at 245 E. North Ave. in the Chicago suburb of Carol Stream. The addition will connect to Frain’s existing 330,000-square-foot facility, resulting in a combined footprint of 530,000 square feet. Upon completion, Frain Industries will operate the largest privately owned facility in Carol Stream, second in size only to the local post office, according to DSI. Completion is slated for June 2025. Headquartered in Carol Stream, Frain works in the packaging and processing industries.

November 18, 2024

Development Industrial Kentucky Southeast Top Stories

Canadian Solar’s e-Storage to Develop $712M Battery Manufacturing Facility Near Louisville, Kentucky

by Hayden Spiess November 18, 2024

SHELBYVILLE, KY. — Shelbyville Battery Manufacturing, a subsidiary of e-Storage, has announced plans to develop a $712 million project in Kentucky, establishing a 6-gigawatt hour battery cell, module and packaging manufacturing facility. Based in Canada, e-Storage is a subsidiary of Canadian Solar — a battery energy storage systems design, manufacturing and integration company. Upon completion, the development will comprise a 1 million-square-foot building located on Logistics Drive in Shelbyville, roughly 35 miles east of Louisville. Shelbyville Battery Manufacturing will produce self-contained energy storage systems at the facility that will be packaged into modular, containerized utility-scale batteries. “The new plant will allow us to provide our U.S. customers with cutting-edge, American-made battery energy storage products,” says Colin Parkin, president of e-Storage. According to a press release issued by the office of Kentucky Gov. Andy Beshear, the project will create 1,572 permanent jobs and marks the third-largest project for job creation during Beshear’s administration, which began in 2019. In August, the Kentucky Economic Development Finance Authority (KEDFA) preliminarily approved a 15-year incentive agreement with Shelbyville Battery Manufacturing to provide up to $35 million in tax incentives. The authority also approved the manufacturer for up to $5 million in tax incentives through the …

November 18, 2024

Development Industrial Texas

KDC Delivers 422,000 SF Distribution Center for Oncor in Midlothian, Texas

by Taylor Williams November 15, 2024

MIDLOTHIAN, TEXAS — Dallas-based developer KDC has delivered a 422,000-square-foot, build-to-suit distribution center for energy services provider Oncor in Midlothian, a southern suburb of Dallas. The site spans 60.7 acres, and the facility features a cross-dock configuration, 36-foot clear heights, interior offices, a break room and training rooms. Alliance Architects designed the project, and Peinado Construction served as the general contractor. Construction began in December 2023.

November 15, 2024

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