CHARLOTTE, N.C. — The Fallon Co., along with locally based general contractor Edifice Construction, has broken ground on The Colwick, a 234-unit apartment community in Charlotte’s Cotswold neighborhood. The property will feature one-, two- and three-bedroom apartments. Designed by Axiom Architecture, The Colwick’s amenities will feature a coworking lounge with video conferencing rooms, resort-style saltwater pool, onsite pet spa and dog park, fitness center with a private yoga studio, outdoor grill stations and a pizza oven, bike storage, garden courtyard with activity lawn and fireside lounge, resident lounge and game room, golf simulator and an outdoor gaming lawn with bistro lighting. Santander Bank provided an undisclosed amount of construction financing for the project, which is set for completion in late 2026.
LOMBARD, ILL. — A joint venture between Pacific Retail Capital Partners (PRCP) and Synergy Construction Group has broken ground on the mixed-use redevelopment of Yorktown Center, an enclosed regional mall located in the Chicago suburb of Lombard. The 1.2 million-square-foot mall opened its doors in October 1968. The 130-acre property is currently home to over 170 stores and restaurants, including anchors Von Maur and JCPenney. The joint venture acquired a 217,887-square-foot anchor building at the site that was formerly occupied by Carson Pirie Scott in fall 2022. The property will be demolished to make way for Phase I of the redevelopment, which will include a community park dubbed The Square, 600 residential units and thousands of square feet of new, exterior-facing shops and restaurants. The Square will feature a children’s play area, entertainment stage, dog park and fitness area. New retail space will be occupied by tenants including The Fresh Market, Tapville Social, Empire Burgers + Brew, Dave & Buster’s and Ancho & Agave, among others. The residential portion of Phase I, Yorktown Reserve, will offer luxury multifamily units. Shared amenities will include a fitness center, resort-style swimming pool and hot tub, sauna, business center, DIY room, game room, multiple media and theater …
FREEPORT, TEXAS — Dallas-based developer KDC has delivered a $114 million importation facility in Freeport, a Gulf Coast city located about 60 miles south of Houston, that is an industrial build-to-suit project for Volkswagen Group of America (VWGoA). The 120-acre development represents a consolidation of the German automaker’s port operations in Houston and Midlothian and encompasses several service buildings totaling more than 200,000 square feet, along with asphalt parking for more than 16,000 vehicles, trucks and railcars. In addition, the facility will be able to process up to 140,000 Volkswagen, Audi, Bentley, Lamborghini and Porsche vehicles annually, supporting about a third of VWGoA’s U.S. retail dealers. Stewart Development & Construction served as the general contractor for the project, construction of which began in late 2022.
DALLAS — California-based investment firm Stanton Road Capital has completed the renovation of Element Towers, a two-building, 672,942-square-foot office complex located off I-635 in North Dallas. The project team upgraded and redesigned the lobbies of both buildings, which also now feature fitness centers with private showers and lockers, fully furnished conference/training facilities and onsite food services. Additional enhancements include updated outdoor communal and recreation areas. ENTOS Design provided architecture and design services while Arco/Murray handled construction. Stanton Road Capital has tapped Holt Lunsford Commercial to lease Element Towers post-renovation.
HOUSTON — Locally based developer Triten Real Estate Partners has broken ground on a 171,000-square-foot industrial project in North Houston. The property, which can support a single or multiple users, will function as a distribution center and will feature two drive-in ramps, 41 dock-high doors, speculative office space and ample trailer parking. Method Architecture is designing the project, and Angler Construction is serving as the general contractor. CBRE is the leasing agent. Completion is slated for summer 2025.
ALLENTOWN, PA. — JLL has arranged a $22 million construction loan for a 224,000-square-foot industrial project in the Lehigh Valley city of Allentown. The project at 2401 W. Emaus Ave. will be a warehouse and distribution facility with a clear height of 36 feet, 43 dock-high doors and parking for 129 cars and 42 trailers. JLL arranged the floating-rate construction loan through BHI, the U.S. division of Israeli lender Bank Hapoalim, on behalf of the borrower, Woodmont Industrial Partners. Construction is expected to last between 12 to 18 months.
FLORHAM PARK, N.J. — Locally based developer Garden Communities has completed 147 Columbia, a 126-unit apartment complex in the Northern New Jersey community of Florham Park. The site formerly housed an office building, and the redevelopment began in 2023. Units come in one- and two-bedroom floor plans and range in size from 861 to 1,535 square feet. Residences are furnished with stainless steel appliances, custom cabinetry and individual washers and dryers. Leasing began in March, at which time rents started at $2,600 per month for a one-bedroom apartment. Today, rents start at about $2,800 per month for a one-bedroom unit.
LOS ANGELES — A joint venture between Real Estate Development Associates (REDA) and Clarion Partners have completed construction of Union Commerce Center, a Class A warehouse/distribution facility at 3690 E. Union Pacific Ave. in central Los Angeles. Situated on more than 11 acres, Union Commerce Center offers 253,318 square feet of speculative industrial space. The development consists of a single 253,318-square-foot industrial building with a clear height of 36 feet, 35 dock-high doors with levers on all docks, two oversized grade-level doors, 41 trailer stalls, an ESFR K-25 sprinkler system, skylights, wide column spacing and ample expandable power. Union Commerce Center features a large-scale mural that wraps around a 500,000-gallon water tower, which serves the property’s fire sprinkler system. The mural was produced by local artist Downtown Daniel, an Angeleno more formally known as Daniel Antelo. Antelo’s work has been featured on walls and canvases nationwide, and he is recognized for his work with Nike, Kobe Bryant’s family, The Marathon Clothing and the LA Rams, Clippers and Dodgers. Cushman & Wakefield’s John Minervini, Erik Larson, Chris Tolles and Paul Sims are handling the leasing efforts of the property.
CHICAGO — Skender has completed construction of a 38,000-square-foot expansion for the Greater Chicago Food Depository, a nonprofit anti-hunger organization that provides food for families and individuals experiencing food insecurity. The expanded prepared meals center, located at 4100 W. Ann Lurie Place, was completed seven weeks ahead of schedule and has enabled the food bank to increase its capacity to distribute up to 10,000 meals per day. The project added a commercial kitchen for meal preparation, cold storage spaces, a new lobby and 11.5 acres of site work with parking for volunteers and guests. Skender also coordinated and facilitated the installation of a singular Hydroponic Container Farming Unit, which enables the food depository to grow its own fresh herbs. The development has received LEED Silver certification. The project team included JLL as owner’s representative, Partners by Design as architect, V3 Cos. as civil engineer, Buro Happold as structural engineer, Salas O’Brien as mechanical engineer and PM&E Partners as food processing engineer.
JERSEY CITY, N.J. — Kushner is nearing completion of The Journal, a nearly $1 billion luxury apartment development in Jersey City’s Journal Square area. The project features two 64-story towers that are now topped out, and preleasing efforts are set to begin in early 2025. Kushner has selected Manhattan-based The Marketing Directors as the marketing and leasing agent for the property. Upon completion, The Journal will comprise more than 2 million square feet with 1,723 apartment units and 45,000 square feet of upscale amenity spaces. Target has leased the entirety of the development’s 40,000 square feet of ground-floor retail space. Positioned adjacent to the Journal Square PATH station, The Journal will provide convenient access to Manhattan. Residents will enjoy views of the Hudson River, Statue of Liberty, Ellis Island and the Manhattan skyline. Designed by global architectural firm Woods Bagot, The Journal is characterized by a slender, vertical profile. A nearly one-acre public plaza adorned with landscaping and seating areas will open onto John F. Kennedy Boulevard. Amenities at The Journal will encompass a wide array of health, wellness and recreational options, including an Olympic-size indoor pool, whirlpool spa, sauna, steam rooms, bowling alley, golf simulator and multiple lounges. The …