Development

Magnetic Capital Breaks Ground on 100,000 SF Mixed-Use Building in Denver

by Amy Works May 29, 2024

DENVER — Magnetic Capital has broken ground on 2nd & Adams, a mixed-use building located at 2nd Street and Adams Avenue in the Cherry Creek submarket of Denver. Slated for completion in third-quarter 2025, 2nd & Adams will feature 80,000 square feet of office space and 20,000 square feet of retail space. The building will have multiple food, beverage and retail concepts across the ground-floor space, and the rooftop will feature a 5,600-square-foot bar and restaurant. Bow River Capital, a Denver-based private alternative asset manager, has pre-leased 30,000 square feet of office space at 2nd & Adams for the company’s headquarters. The project team includes OZ Architecture as architect and Mortenson Construction as general contractor. Blake Holcomb of CBRE is handling leasing for the project.

May 29, 2024

Development Maryland Mixed-Use Southeast Top Stories

MCB Real Estate to Develop 280-Acre VIVA White Oak Mixed-Use Project Near Washington, DC

by Kristin Harlow May 29, 2024

SILVER SPRING, MD. — MCB Real Estate has unveiled plans to develop VIVA White Oak, a 280-acre mixed-use project anchored by healthcare space in Silver Spring, approximately six miles north of downtown Washington, D.C. Plans call for 3 million square feet of lab, office, research and medical space; 525,000 square feet of retail; 3,000 square feet of hotel space; 75,000 square feet of senior living; 4,500 private residences; and 85 acres of open space. MCB is currently working with stakeholders and public officials to refine the specifics, but the healthcare component will focus on the life sciences and biohealth industries. MCB plans to break ground in the second quarter of 2025, with the first phase of retail slated to open in mid-2028. The development will offer direct access to U.S. Route 29 and is near the University of Maryland. The project site, which has been approved for 12 million square feet of mixed-use development by Montgomery County, is adjacent to the U.S. Food and Drug Administration headquarters and near the Adventist HealthCare White Oak Medical Center. According to the Washington Business Journal, VIVA White Oak was originally a $3 billion project spearheaded by Global LifeSciences Development Corp. but was long …

May 29, 2024

Development Mixed-Use Texas

Spire Realty Group Completes $70M Renovation of Mixed-Use Property in Downtown Fort Worth

by Taylor Williams May 28, 2024

FORT WORTH, TEXAS — Spire Realty Group has completed the $70 million renovation of City Place, a mixed-use property in downtown Fort Worth. Built in the 1970s to house the headquarters of Tandy Corp., City Place comprises two 18-story office buildings totaling 539,000 square feet, an Aloft Hotel and 31,000 square feet of retail and restaurant space. Spire Realty acquired the property, which is located at the intersection of Throckmorton and 3rd streets, in 2011. Since then, the Dallas-based investment firm has overseen a full renovation of One City Place; added the Aloft Hotel; invested millions in capital improvements; and turned a vacant mall on the property into City Place Center, which includes structured parking and the retail and restaurant components.

May 28, 2024

Development Industrial Life Sciences Loans Massachusetts Northeast

King Street Receives Construction Financing for 210,000 SF Manufacturing Project in Metro Boston

by Taylor Williams May 28, 2024

DEVENS, MASS. — Locally based developer King Street Properties has received an undisclosed amount of construction financing for a 210,000-square-foot advanced manufacturing project that will be located in the northwestern Boston suburb of Devens. The building at 75 Jackson Road will be the fourth such structure on the 700,000-square-foot Pathway Devens campus. Preliminary sitework is underway, and completion is slated for the third quarter of 2025. First Citizens Bank and Berkshire Bank provided the financing. The project team includes general contractor BW Kennedy, Vivo Architecture and Highpoint Engineering.

May 28, 2024

Data Centers Development Industrial Mississippi Southeast

Amazon Web Services Breaks Ground on $10B Data Center Complexes in Mississippi

by John Nelson May 28, 2024

MADISON COUNTY, MISS. — Amazon Web Services (AWS) has broken ground on a $10 billion project in Madison County. Plans for the development include data center complexes across two industrial parks, in coordination with the Madison County Economic Development Authority (MCEDA). Local outlet WJTV reports that Mississippi lawmakers approved a $4 million incentive package for the project earlier this year. A press release issued by the office of Mississippi Gov. Tate Reeves, who signed a bill for the incentives, reports that the investment will create 1,000 jobs in the state. According to the Mississippi Development Authority, this marks the largest capital investment in the state’s history, at four times the size of the previous largest economic development project. WJTV reports that Reeves has said the data centers could be partially open as early as 2027.

May 28, 2024

Development Georgia Industrial Southeast

First Quality Baby Products to Invest $418M for Manufacturing Facility Expansion in Macon, Georgia

by John Nelson May 28, 2024

MACON, GA. — First Quality Baby Products — which manufactures baby diapers, youth and training pants, adult incontinence products, feminine hygiene products, paper towels and bath tissue and packages products — has announced plans for a $418 million expansion of its facilities in Macon, roughly 85 miles southwest of Atlanta. Located adjacent to the company’s current facilities, at 2108 Avondale Mill Road, the expansion will create 600 jobs and will allow for a 50 percent increase in baby diaper and training pant manufacturing capacity, according to the brand. Candice Scott of the Georgia Department of Economic Development (GDEcD) represented the state in securing the project, working in partnership with the Macon-Bibb County Industrial Development Authority, Georgia Power and Georgia Quick Start. “We’re always thankful when job creators like First Quality choose to expand in Georgia, and we’ll keep working to strengthen these long-term partnerships that enrich communities in every corner of the state,” said Georgia Gov. Brian Kemp in a press release.

May 28, 2024

Development Georgia Multifamily Southeast

Resia Opens 433-Unit Apartment Community in Metro Atlanta

by John Nelson May 28, 2024

DOUGLASVILLE, GA. — Multifamily development and management firm Resia has opened Resia Tributary, a 433-unit apartment community in Douglasville, approximately 20 miles west of Atlanta. Located at 1851 Market St., the property offers studio, one- and two-bedroom apartments across seven five-story buildings. Additionally, the community features a 22,000-square-foot, two-story building comprising 9,000 square feet of retail space and 13 one-bedroom lofts. Monthly rental rates begin at $1,322, according to the property website.

May 28, 2024

Development Industrial Maryland Southeast

Knott Realty Group Underway on Two Baltimore Industrial Buildings Totaling 276,000 SF

by John Nelson May 28, 2024

BALTIMORE — Knott Realty Group is underway on the development of two industrial buildings totaling 276,000 square feet at 9107 and 9114 Yellow Brick Road in Baltimore. Scheduled for completion in the second quarter of 2025, the properties will comprise 150,492 and 125,791 square feet, respectively, and feature 32-foot ceiling heights, ESFR sprinklers, high-bay LED lighting and a seven-inch concrete slab. 9107 Yellow Brick Road will offer 46 dock doors, two drive-in doors and 226 parking spaces, with 9114 Yellow Brick Road offering 38 dock doors, two drive-in doors and 160 parking spaces. An additional lot will provide the capacity for up to 29 trailer drops. Together, the buildings mark the final phase of Knott’s Yellow Brick Road business community, which will total more than 1 million square feet within nine buildings. The company is managing all marketing and leasing for the properties on an in-house basis.

May 28, 2024

Development Industrial New York Northeast Self-Storage

Stuf Storage Opens 180-Unit Self-Storage Facility in Brooklyn

by Taylor Williams May 28, 2024

NEW YORK CITY — Stuf Storage has opened a 180-unit self-storage facility in Brooklyn. The facility is located at 485 Clermont Ave. at the nexus of the Clinton Hill and Prospect Heights neighborhoods and consists of 15,000 gross square feet. Units range in size from 12 square feet to 240 square feet. Locally based developer RXR owns the property. Stuf Storage now operates about 30 facilities across seven states.

May 28, 2024

Development Multifamily Washington Western

Joint Venture Completes 311-Unit Eastline Grand Apartments in Redmond, Washington

by Amy Works May 28, 2024

REDMOND, WASH. — A joint venture between Legacy Partners and Lionstone Investments has completed the development of Eastline Grand. Located in downtown Redmond, a suburb east of Seattle, the project is the first phase of redevelopment at the Remond Square Shopping Center. Located at 16595 Redmond Way, Eastline Grand features 311 studios, one-, two- and three-bedroom apartments ranging from 483 square feet to 1,279 square feet and 20,000 square feet of ground-floor retail space. The units offer air conditioning; top-of-the-line finishes, including chef-inspired kitchens complete with Bertazzoni and Kitchen Aid appliance packages, gas ranges, kitchen range hoods, microwaves and Carrera quartz countertops; and bathrooms with tiled tub surrounds, floating vanities and illuminated mirrors. At full build out, the redevelopment project will feature 623 residences on 3.5 acres. The developers broke ground in October 2021. Slated for delivery in first-quarter 2025, the second building, Eastline Central, under construction at 16502 Cleveland St., will offer 312 apartments and 13,000 square feet of retail and commercial space.

May 28, 2024

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