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CivicDevelopmentNortheastRhode Island

Skanska Breaks Ground on $147M Project for U.S. Navy in Newport, Rhode Island

by Taylor Williams

NEWPORT, R.I. — International developer and construction firm Skanska has broken ground on a $147 million project for the U.S. Navy in Newport, Rhode Island. The facility will serve as the new operations center for the National Oceanic & Atmospheric Administration. The project will include the construction of a new pier to accommodate four large vessels and associated utilities, as well as a supporting 22,129-square-foot administration building with parking, exterior storage and an adjacent loading and laydown area. Construction began in December and is expected to be complete by 2027.

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DevelopmentIndustrialKansasMidwestTop Stories

Flint Development Nears Completion of First Building at $390M Flint Commerce Center in De Soto, Kansas

by Jeff Shaw

DE SOTO, KAN. — Flint Development is nearing completion of the first building at Flint Commerce Center, a $390 million industrial park in the western Kansas City suburb of De Soto. At full build-out, the multi-phased project will include up to six buildings on a 370-acre site. Development of the first building, a 1 million-square-foot distribution center, is slated for completion this summer. Located at 10200 Edgerton Road, the cross-dock distribution center is being constructed with tilt-up concrete panels and 40-foot clear heights. The first facility — which is called Building C — will offer 98 dock doors and four drive-through doors, with the capacity to expand to 168 dock doors. The parking lot can accommodate 515 cars and 251 trailers. In August 2023, Panasonic Energy announced plans to lease half of the facility to support a nearby lithium ion battery manufacturing facility, which is currently under construction. “There is a lot of excitement surrounding the Panasonic factory and we are happy to see the amount of prospect activity for Flint Commerce Center,” says Mark Long, CEO of Newmark Zimmer. Newmark Zimmer is representing Flint Development in lease negotiations for Flint Commerce Center. “Together, this lease and the additional land …

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DevelopmentFeaturesWestern Feature Archive

Adaptive Reuse is an Urban Repair Strategy That’s Here to Stay

by Jeff Shaw

— By Carina Mills and Maura Schafer — In 2017, partner design firms RDC and Studio One Eleven (RDC-S111) relocated from a high-rise office to a former 25,000-square-foot Nordstrom Rack at 245 E. Third Street in downtown Long Beach, Calif. The store was located in a 1980s-era shopping center that had fallen into serious decline.  On the plus side, the location was consistent with Studio One Eleven’s mission of urban repair, allowing for a pedestrian-level interaction with the neighborhood, while strengthening the city fabric. Soon enough, the retail space was converted into a modern creative office that added 130 design professionals to the neighborhood’s daytime population. This higher-use conversion occurred alongside other public and private investments that brought restaurants into the area. These included Ammatoli (a Los Angeles Times Top 100 restaurant), Beachwood Brewery, Rainbow Juices and Michael’s Pizzeria, among others. The adjacent Harvey Milk Park garnered grants for a reinvigoration by Studio One Eleven, and developers started working on housing development around the immediate neighborhood.   This move and project was not only a chance for RDC and Studio One Eleven to create urban impact, but to design an environment for staff that instills creativity, collaboration and wellness. The office achieved …

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DevelopmentFloridaMultifamilySoutheast

Black Salmon, LD&D to Develop $115M Multifamily Tower in Tampa Bay Area

by John Nelson

ST. PETERSBURG, FLA. — Black Salmon and LD&D plan to co-develop Gallery Haus, a 23-story multifamily tower in the Tampa Bay city of St. Petersburg. The $115 million project will be located at 155 17th St. S, which is adjacent to the upcoming $6.5 billion overhaul of Tropicana Field, the home ballpark of the Tampa Bay Rays. Black Salmon and LD&D purchased the 0.8-acre site last month for a little more than $9 million. The duo plan to break ground on Gallery Haus in the fourth quarter. The project will include 10,000 square feet of amenities and coworking space, as well as 5,000 square feet of ground-level retail space.

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ColoradoDevelopmentMultifamilyStudent HousingWestern

Landmark Properties Plans 936-Bed Student Housing Project Near the University of Colorado Boulder

by Amy Works

BOULDER, COLO. — Landmark Properties has acquired a 15-acre site at 1345 28th St. near the University of Colorado Boulder in Boulder. The firm plans to construct The Standard at Boulder, a 936-bed student housing community, on the site. The project caps off approximately $700 million in year-end transactions for Landmark in 2023. The 447,000-square-foot building will include 303 student apartments. Landmark expects to begin abatement and demolition of the vacant building on the site, former home to the Harvest House Hotel, early this year. Landmark Construction, the construction arm of Landmark Properties, will be the general contractor. Completion is slated for fall 2027. The four-story Standard at Boulder will offer a mix of floor plans, ranging from studios to four-bedroom units, some with private balconies. The community will include 29,000 square feet of amenities including multiple rooftop decks with views of the surrounding campus and the Flatirons; an outdoor pool and pool deck; a clubroom; several study lounges’ as well as; and parking for 348 vehicles with several electric vehicle charging stations. As part of the planned development, Landmark Properties will incorporate nearly six acres of active and passive green spaces fronting Boulder Creek and make improvements to the portion …

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AcquisitionsDevelopmentMultifamilyOfficeWashingtonWestern

Stream Real Estate Acquires Queen Anne Plaza Office Property in Seattle for Residential Conversion

by Amy Works

SEATTLE — Stream Real Estate, a developer/investor, has purchased Queen Anne Plaza, a four-story office building and two levels of parking in Seattle’s Lower Queen Anne neighborhood, from East West Investment Co. for $7 million. The buyer plans to convert the asset into a residential property. Located at 201 Queen Anne Ave. N, the property is situated across from Climate Pledge Arena, home to the National Hockey League’s Seattle Kraken and Women’s National Basketball Association’s Seattle Storm. Official details for Stream Real Estate’s new apartment redevelopment have not yet been released. Dan Chhan, Tim McKay, Sam Wayne and Matt Kemper of Cushman & Wakefield represented the buyer, while Andrew Shultz and Brandon Burmeister of Cushman & Wakefield represented the seller in the transaction.

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DevelopmentIllinoisIndustrialMidwest

Missner Group, CBRE IM Complete 169,838 SF Spec Industrial Building in Chicago

by Kristin Harlow

CHICAGO — Joint development partners The Missner Group and CBRE Investment Management have completed a 169,838-square-foot speculative industrial building in Chicago. The Missner Group also served as general contractor for the property, which is located at 3900 S. Normal Ave. in the city’s Bridgeport neighborhood. The building features a 3,700-square-foot model office, 16 loading docks, two drive-in doors, 26 tractor-trailer positions and parking for 168 cars. The property also features an abstract mural designed by AMUSE 126, a local artist known for his graffiti-inspired illustrative and typographic art. Cornerstone Architects and engineer Spaceco Inc. made up the project team. Mitch Adams, Steven Livaditis and Nicole Mentone of CBRE are the leasing brokers. CBRE will also serve as property manager.

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AcquisitionsCaliforniaDevelopmentLife SciencesOfficeTop StoriesWestern

UCLA Acquires Former Westside Pavilion Mall in Los Angeles for $700M, Unveils Plans for Research Park 

by Katie Sloan

LOS ANGELES — The University of California, Los Angeles (UCLA) has acquired One Westside and Westside Two, located two miles from its Westwood campus in Los Angeles. A joint venture between Hudson Pacific Properties (NYSE: HPP) and Macerich (NYSE: MAC) sold the assets for $700 million.  The 700,000-square-foot property — located at 10800, 10830 and 10850 W. Pico Blvd.— was formerly occupied by Westside Pavilion mall, a city landmark that served as the backdrop for a number of movies and television shows since its opening in 1985. Hudson Pacific and Macerich began redevelopment efforts at the property in March 2018, converting the mall into a Class A office campus. Google inked a lease in January 2019 to occupy the entire campus under a 14-year term, which was to commence upon completion of the project in 2022. Details of the termination of Google’s lease at the property were not disclosed.  The university plans to convert the property into UCLA Research Park, which will house the California Institute for Immunology and Immunotherapy at UCLA and the UCLA Center for Quantum Science and Engineering. The acquisition was made possible by a $500 million investment from the state of California, $200 million of which …

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DevelopmentIndustrialTexas

Partnership Underway on 939,612 SF Spec Industrial Project in El Paso

by Taylor Williams

EL PASO, TEXAS — A partnership between two California-based firms, PCCP LLC and Panattoni Development, along with Hunt Cos., is underway on construction of a 939,612-square-foot speculative industrial project in El Paso. Project Grande, which represents the first phase of a larger, 1.8 million-square-foot development, will consist of two buildings on a 45-acre site at the southeast corner of Pellicano Drive and Aircoupe Way on the city’s east side. Features of the rear-load and cross-dock buildings will include 36- to 40-foot clear heights, ESFR sprinkler systems and ample trailer parking. Completion of Phase I, which is 50 percent preleased, is slated for the second half of the year.

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DevelopmentFloridaLoansMixed-UseSoutheast

Pebb Capital Obtains $173M Construction Loan for Sundy Village Development in South Florida

by John Nelson

DELRAY BEACH, FLA. — Pebb Capital has obtained a $173 million construction loan for Sundy Village, a mixed-use development underway at 22 W. Atlantic Ave. in Delray Beach, a city in South Florida’s Palm Beach County. Monroe Capital and J.P. Morgan provided the construction loan. Pebb Capital broke ground on the $240 million development in early 2023 with plans for a summer 2024 opening. Sundy Village will feature more than 28,000 square feet of experiential retail space and 180,000 square feet of Class A offices, of which Pebb Capital has preleased 141,400 square feet. The tenant roster includes restaurants Barcelona Wine Bar and Double Knot and office tenant Vertical Bridge. Joe Freitas and John Criddle of CBRE oversee Sundy Village’s office leasing and Sara Wolfe of Vertical Real Estate handles retail leasing. The design-build team includes general contractor Bluewater Builders.

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