Development

Merit Bank Opens New Office, Retail Branch at The Range in Huntsville, Alabama

by John Nelson February 23, 2024

HUNTSVILLE, ALA. — Merit Bank has opened at The Range, The Beach Co.’s 49,229-square-foot office building located on Governors Drive in Huntsville. Merit Bank now occupies the third floor of the property, which spans roughly 17,433 square feet, in addition to a first-floor retail branch, with a total 20,000 square feet of occupancy. The Range features a common-area courtyard, high-speed Gigabyte internet and walkability to nearby restaurants, entertainment and retailers. The building is also situated adjacent to The Foundry, a 340-unit multifamily and townhome community, and STOVEHOUSE, a mixed-use development.

February 23, 2024

Arizona Data Centers Development Industrial Western

Baker Completes First Phase at 72-Acre Redevelopment of Former Motorola Manufacturing Facility in Phoenix

by Hayden Spiess February 23, 2024

PHOENIX — Baker Development has started the final phase of demolition on a 72-acre industrial site in Phoenix, as part of a redevelopment of the property. Beginning in the 1960s, the site housed a Motorola semiconductor manufacturing campus. Work has been underway at the site for three years, and Baker has delivered one of four parcels to a data center user. Daniel J. Slack, president and COO of Baker, says that the developer is also “in discussions with other well-known companies attracted to the site’s substation-level power, its Foreign Trade Zone potential, as well as access to nearby housing, diverse labor pool and recreational amenities.”

February 23, 2024

Development Industrial Texas

Sansone Group, Raith to Develop 3.7 MSF Industrial Project in El Paso

by Taylor Williams February 23, 2024

EL PASO, TEXAS — St. Louis-based Sansone Group and its equity partner Raith Capital Partners will develop Rancho del Rey Logistics Park, an industrial development in El Paso that will ultimately comprise more than 3.7 million square feet. The 235-acre site at the junction of at I-10 and Loop 375 features proximity to the Ysleta-Zaragoza port of entry. Rancho del Rey Logistics Park will be developed in three phases via a ground lease with an undisclosed local family that has owned the land for multiple generations. A groundbreaking ceremony for Phase I, which will encompass three buildings totaling roughly 1.4 million square feet, will take place in mid-March. The first of those three buildings, a 413,035-square-foot structure, is slated for a fourth-quarter delivery and is fully preleased to Fortune 100 company Bosch. Bob Feinberg and Tom Jones of Colliers represented the landowner and developers in structuring the ground lease and in negotiating the lease for Building 1. Brett Preston and David Hingst of Cushman & Wakefield represented Bosch.

February 23, 2024

Acquisitions Development Hawaii Industrial Leasing Activity Mixed-Use Retail Western

Alexander & Baldwin Completes One Lease, Two Sales at 125-Acre Mixed-Use Development in Maui

by Hayden Spiess February 23, 2024

KAHULUI, HAWAII — Alexander & Baldwin has arranged one lease and completed the sale of two properties at Maui Business Park Phase II, its 125-acre mixed-use development located in Kahului on the island of Maui. The build-to-suit industrial lease totals 29,500 square feet. The undisclosed tenant plans to relocate operations to the site upon completion of the warehouse and distribution facility. The County of Maui also purchased 12.5 acres at the property for $17.4 million, with plans to construct a new facility for its Department of Transportation. Hamai Appliances Inc. also purchased two lots totaling 1.3 acres for $2.4 million. The buyer plans to build a showroom and service center on the site to expand its current operations.

February 23, 2024

Development Multifamily Texas

Taurus, AOG Living Break Ground on 348-Unit Multifamily Project in East Austin

by Taylor Williams February 23, 2024

AUSTIN, TEXAS — A partnership between Taurus Investment Holdings and AOG Living has broken ground on The Evergreen at Whisper Valley, a 348-unit multifamily project in East Austin. Designed by The Sage Group and located within the 2,670-acre Whisper Valley master-planned community, the property will offer one, two- and three-bedroom units. Amenities will include a pool, fitness center, resident clubhouse, business center, beer garden, dog park and nature trails. Residents will also have access to a 600-acre public park. Delivery is slated for spring 2025.

February 23, 2024

Development Multifamily Texas

LYND Begins Leasing 261-Unit Josephine Apartments in San Antonio

by Taylor Williams February 23, 2024

SAN ANTONIO — Locally based developer LYND has begun leasing The Josephine, a 261-unit apartment community in San Antonio’s historic Pearl District. Designed by Austin-based Davies Collaborative, The Josephine offers one-, two- and three-bedroom units that range in size from 468 to 1,594 square feet. Amenities include a pool, fitness center, rooftop terrace, outdoor kitchen, game room, dog run and a library with conference rooms. Rents start at roughly $2,000 per month for a one-bedroom apartment. The first move-ins are scheduled to begin in late spring.

February 23, 2024

Development Loans Mixed-Use New York Northeast

United Group of Cos. Receives Construction Financing for Mixed-Use Project Near Albany

by Taylor Williams February 23, 2024

TROY, N.Y. — United Group of Cos. has received construction financing from Berkshire Bank for City Station North, a $42 million mixed-use project in Troy, located just outside of Albany. The project represents the fourth phase of the larger City Station development that began in 2009. The latest phase will feature 87 one- and two-bedroom apartments and Class A amenities, 40,000 square feet of office space that will be the future home of United Group’s headquarters and 154 covered and surface parking spaces. Project partners include QPK Design, Colliers Engineering & Design and Franco Construction Services. Completion is slated for late 2025.

February 23, 2024

Development New Hampshire Northeast Retail

Tractor Supply Co. Opens 39,097 SF Store in North Conway, New Hampshire

by Taylor Williams February 23, 2024

NORTH CONWAY, N.H. — Tractor Supply Co. has opened a 39,097-square-foot store in North Conway, located near the New Hampshire-Maine border. The facility, which was constructed from the ground up, consists of 19,097 square feet of retail space and 20,000 square feet of fenced outdoor display space. The store is the 21st in New Hampshire for Nashville-based Tractor Supply Co. Conway Development Partners LLC, a division of New England Retail Properties, owns the site.

February 23, 2024

Arizona Development Multifamily Student Housing Top Stories Western

Aptitude Development Breaks Ground on 485-Bed Student Housing Project Near Arizona State University

by Jeff Shaw February 23, 2024

TEMPE, ARIZ. — Aptitude Development has broken ground on The Marshall Tempe, a 485-bed student housing community near the Arizona State University (ASU) campus in Tempe. Situated at 1031 E. Apache Blvd. in the University Heights neighborhood, The Marshall Tempe is located approximately 1.3 miles from the university’s registrar office, 1.5 miles from the ASU Art Museum and one mile from the Sun Devil campus store. The Marshall Tempe is slated for completion prior to the fall 2026 semester. Planned amenities include a pool, cold plunge, sauna, study lounges and fitness center. BKV Associates designed the community. CHA Consulting is providing engineering services. Aptitude Development was founded in 2014 and is based in Elmwood Park, New Jersey. The Marshall Tempe will be the company’s 10th ground-up development. ASU had its largest enrollment class ever in 2023, with more than 144,000 students between online and in-person classes across all its campuses. In-person enrollment broke 80,000 students for the first time in the school’s history. — Channing Hamilton

February 23, 2024

Development Industrial Texas

Reports: Chick-fil-A Opens $100M Distribution Center in Hutchins, Texas

by Taylor Williams February 22, 2024

HUTCHINS, TEXAS — Atlanta-based fast food restaurant Chick-fil-A has opened a $100 million distribution center in Hutchins, a southern suburb of Dallas, according to reports from multiple news outlets including Fox 4 KDFW and The Dallas Express. Both publications report that the facility will span approximately 290,000 square feet, employ more than 200 people and serve more than 200 restaurants in the region. Chick-fil-A, which opened its 3,000th restaurant a couple months ago in Dallas, now operates seven distribution centers throughout the country.

February 22, 2024

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