Development

RL Cold Begins Development of 292,000 SF Cold Storage Facility in Lakeville, Minnesota

by Kristin Harlow May 15, 2024

LAKEVILLE, MINN. — RL Cold, a division of RealtyLink LLC, has begun development of a 292,000-square-foot cold storage facility in the Minneapolis suburb of Lakeville. The project team includes general contractor Graycor Construction Co. and architect Ware Malcomb. The development will be situated within the 205-acre Airlake Industrial Park, which is located four miles from I-35 and 20 miles from Minneapolis. The project will feature advanced refrigeration technology, storage capacity for perishable items, a clear height of 50 feet, 70-foot-deep truck dock, up to 34,000 pallet positions, 98 employee parking spots, 61 truck spots and 38 truck dock doors. The project will be U.S. Green Building LEED certified. Completion is slated for spring 2025.

May 15, 2024

Arizona Development Multifamily Student Housing Western

LV Collective to Develop 829-Bed Rambler Tempe Student Housing Property Near Arizona State University

by Amy Works May 15, 2024

TEMPE, ARIZ. — LV Collective, in partnership with Kayne Anderson Real Estate and Pacific Life, is set to break ground on Rambler Tempe, an 829-bed student housing development serving students attending Arizona State University. The community, which is scheduled for completion in fall 2026, will span 552,380 square feet at 1020 E. Apache Blvd. in Tempe. Work on the project began in March. Upon completion, the property will offer units in studio, one-, two-, three- and four-bedroom configurations. Shared amenities will include a café, coworking space, private study rooms, content creation rooms, two swimming pools and hot tubs, a rooftop terrace, clubroom, resident lounge and two-level fitness facility with yoga and on-demand fitness studios. The development team for the project includes Shepley Bulfinch, Layton and Variant Collaborative.

May 15, 2024

Development Multifamily Seniors Housing Washington Western

Aegis Living Opens 136-Unit Seniors Housing Project in Seattle

by Amy Works May 15, 2024

SEATTLE — Aegis Living has opened Aegis Living Laurelhurst in the Laurelhurst neighborhood of Seattle, near the University of Washington (UW). The six-story building features 147,911 square feet of space and 136 assisted living apartments. Aegis Development LLC is the developer, Ankrom Moisan Architects is the architecture firm and Exxel Pacific is the general contractor. Aegis Living Laurelhurst is Aegis’ 38th community and the second one to open this year.

May 15, 2024

Development Life Sciences New Jersey Northeast Office Top Stories

MetLife to Reposition 197-Acre New Jersey Office Campus into Bedminster Technology Center

by Kristin Harlow May 15, 2024

BEDMINSTER, N.J. — MetLife Investment Management has unveiled plans to reposition its 197-acre office campus in Bedminster, about 45 miles west of New York City, into a life sciences development named Bedminster Technology Center. MetLife has retained JLL to lead the repositioning of the property. Formerly home of AT&T and long known as One AT&T Way, the property consists of four interconnected buildings totaling 939,795 square feet. The campus includes a global network operations center, heliport and 15 acres of covered and surface parking. AT&T built the campus for its own use in 1975. MetLife acquired the property, which is now fully vacant, in 2006. The Township of Bedminster has rezoned the property to accommodate up to 2 million square feet of total development targeted toward biotech research and development and advanced manufacturing uses. Additionally, about 300,000 square feet is available for a conference center, hotel and amenities that could include a fitness center, restaurants and/or retail. Dan Loughlin is leading a JLL team that will market the property for single or multi-tenant lease, sale or site redevelopment with acreage for sale. According to JLL, Bedminster Technology Center presents an opportunity to create the first life sciences development in the …

May 15, 2024

Development Multifamily Texas

Resia Completes 336-Unit Multifamily Project in West Dallas

by Taylor Williams May 14, 2024

DALLAS — Miami-based developer Resia, formerly known as AHS Residential, has completed a 336-unit, garden-style multifamily project in West Dallas. Resia Dallas West features one-, two- and three-bedroom units, including 17 affordable housing residences, across eight three-story buildings. All units feature private balconies or patios. Amenities include a pool, fitness center and a business center. Leasing began in October 2023, at which points rents started at $1,280 per month for a one-bedroom unit. Fifth Third Bank and Chicago-based Pearlmark financed construction of the project.

May 14, 2024

Development Mixed-Use New Jersey Northeast

LCOR Breaks Ground on $900M Mixed-Use Project in Northern New Jersey

by Taylor Williams May 14, 2024

HOBOKEN, N.J. — Locally based developer LCOR has broken ground on Hoboken Connect, a $900 million mixed-use project in Northern New Jersey. The waterfront development will consist of a 386-unit apartment complex, a 21-story office building, 5,000 square feet of retail and restaurant space and open public space. Within the multifamily component, 20 percent of the residences will be reserved as affordable housing, while the office building will total 704,355 square feet. Both of these buildings will house various Class A amenities. The development team will also make various infrastructural improvements to the site. A tentative completion date was not disclosed.

May 14, 2024

Development Multifamily New York Northeast

Naftali Group, Access Industries Underway on 850-Unit Multifamily Development in Brooklyn

by Taylor Williams May 14, 2024

NEW YORK CITY — A partnership between locally based developer Naftali Group and holding company Access Industries is underway on construction of Williamsburg Wharf, an 850-unit multifamily development in Brooklyn. The 3.8-acre site is located on Kent Avenue between Division Street and South 11th Street, adjacent to the Brooklyn Navy Yard. Williamsburg Wharf will be a waterfront campus with five 22-story buildings that will also house retail and commercial space. Williamsburg Wharf will also feature an open lawn, public waterfront park, dog run and various walking and biking paths. The first phase is slated for a late 2025 completion.

May 14, 2024

Development Industrial New York Northeast

Creation, J.P. Morgan Sell Long Island Industrial Facility for $44M

by Taylor Williams May 14, 2024

MELVILLE, N.Y. — A joint venture between Creation, a developer with offices in Phoenix and Dallas, and J.P. Morgan Asset Management has sold Baylis 495 Business Park, a 103,500-square-foot industrial facility located in the Long Island community of Melville. Miami-based REIT BentallGreenOak purchased the property for $44 million. The eight-acre site is located about a mile south of the Long Island Expressway, and the building features a clear height of 32 feet, 20 dock doors and two drive-in bays. Marc Duval, Jordan Avanzato, Jason Lundy, Nicholas Stefans, Jose Cruz and Steve Simonelli of JLL brokered the deal. At the time of sale, Baylis 495 Business Park was fully leased to Keurig Dr. Pepper.

May 14, 2024

Development Industrial New Jersey Northeast

Woodmont Properties Completes Renovation of 30,000 SF Industrial Building in Lyndhurst, New Jersey

by Taylor Williams May 14, 2024

LYNDHURST, N.J. — Locally based developer Woodmont Properties has completed the renovation of a 30,000-square-foot industrial building in the Northern New Jersey community of Lyndhurst. The building at 2 Terminal Road is used for both storage and distribution purposes. Specific improvements included the installation of a new roof and front entrance; fresh painting of the building’s interior and exterior; new paving and landscaping; and the addition of built-out office space and additional loading doors.

May 14, 2024

Acquisitions Development Multifamily Washington Western

JLL Arranges $26.2M Sale of Multifamily Development Site in Kirkland, Washington

by Amy Works May 14, 2024

KIRKLAND, WASH. — JLL Capital Markets has arranged the acquisition of a land parcel at the corner lot of 13005 and 13003 NE 70th Place in Kirkland, across Lake Washington from Seattle. Mill Creek Residential purchased the asset from Totem Bowl and Investments for $26.2 million in an off-market transaction. The 139,223-square-foot land parcel currently features the TechCity Bowl building that will be demolished to develop a fully approved, 369-unit, mid-rise multifamily community. Of the 369 units, 36 will be affordable. Additionally, the property will offer 6,700 square feet of retail space and 425 parking stalls. Jordan Louie, Corey Marx, David Young, Chris Ross, Michael Lyford and Reed Curtis of JLL Capital Markets Investments Sales and Advisory represented the buyer in the transaction.

May 14, 2024

Newer Posts

Older Posts