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CaliforniaDevelopmentIndustrialMarket ReportsUtahWesternWestern Market Reports

Badiee’s Industrial Trifecta: San Diego, Sacramento, Salt Lake City

by Jeff Shaw

Badiee Development has logistics and industrial projects throughout the Western U.S., but its current focus is the region’s three S’s: San Diego, Sacramento, Calif., and Salt Lake City. “Badiee Development is prioritizing leasing at our existing projects in San Diego and Sacramento, and entitling future projects in San Diego, Sacramento and Salt Lake City,” says Ben Badiee, the firm’s founder and CEO. “Our company holds a ‘land bank’ with plans to develop more than 2 million square feet across four distinct projects in three markets.” San Diego Badiee’s headquarters is ripe with industrial ventures for the firm. These include the two-building, 242,969-square-foot Sanyo Logistics Center and the 38-acre Britannia Airway Logistics Center, both of which are being built near the Mexican border in Otay Mesa.  Britannia Airway has also been entitled for an interim use of industrial outdoor storage (IOS), allowing the project to accommodate about 1,000 trucks and trailers.  “Being in our ‘backyard,’ Otay Mesa has proven to be a highly successful market for the firm,” Badiee says. “It is at the forefront of the onshoring/nearshoring trend for the U.S. and Mexico, and land availabilities are scarce.” Sacramento Land scarcity has also been a driver for Badiee in Sacramento …

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Affordable HousingDevelopmentMultifamilyTexas

Hunt Capital Partners Completes 116-Unit Affordable Housing Project in North Austin

by Jeff Shaw

AUSTIN, TEXAS — Hunt Capital Partners has completed Saison North, a 116-unit affordable housing project located at the site of the former NXNW Brewery in North Austin. The majority (70 percent) of the units are subject to income restrictions, specifically for households earning 30, 50 or 60 percent or less of the area median income. Units come in one-, two- and three-bedroom floor plans, and amenities include a clubhouse with community kitchen, a fitness center and a business center. Hunt Capital Partners developed the property in partnership with O-SDA Industries, Travis County Housing Finance Corp. and Saigebrook Development.

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The-Brook
DevelopmentMultifamilyNew YorkNortheast

Witkoff, Apollo Global Top Out 52-Story Apartment Tower in Brooklyn

by Taylor Williams

NEW YORK CITY — A partnership between Witkoff and an affiliate of Apollo Global Management has topped out The Brook, a 52-story apartment building in downtown Brooklyn. The Brook will house 591 apartments and 21,000 square feet of retail space. Thirty percent of units will be set aside as affordable housing. Income restrictions for these units were not disclosed. Amenities will include a pool, basketball court, lounge, fitness center, library, communal terraces, playground, dog run and coworking spaces. Move-ins are slated to begin in the second half of 2025. Beyer Blinder Belle designed the community, and Bonetti/Kozerski Architecture provided interior design services. Suffolk Construction is the general contractor.

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DevelopmentHospitalityNew HampshireNew JerseyNew YorkNortheast

Everhome Suites to Open Three New Hotels Totaling 334 Rooms in Northeast

by Taylor Williams

ROCKVILLE, MD. — Everhome Suites, which is part of the family of brands of Maryland-based owner-operator Choice Hotels International Inc., will open three new hotels totaling 334 rooms in the Northeast. The properties include a 106-room hotel in Portsmouth, N.H.; a 114-room hotel in Somerset, N.J.; and a 114-room hotel in Rochester, N.Y. All rooms will feature fully equipped kitchens. Construction of the hotels is underway, and the openings are scheduled for 2025.

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DevelopmentSoutheastStudent HousingTennessee

Juneau Construction Tops Out 1,600-Bed Student Housing Project Near University of Tennessee

by John Nelson

KNOXVILLE, TENN. — Juneau Construction has topped out Hub Knoxville, a student housing development near University of Tennessee that will comprise two 10-story towers and a seven-story building. The co-developers, Core Spaces and Schenk Realty Group, broke ground on the project in February 2023 and secured $233 million in construction financing last summer. Upon completion, the 1,600-bed community will feature 30,000 square feet of retail space, 23,000 square feet of indoor amenities and a 19,000-square-foot rooftop terrace that features a pool, basketball court and hot tub. The design-build team includes Dwell Design Studio, Antunovich Associates and DCI Engineers. Core Spaces and Schenk Realty Group plan to deliver Hub Knoxville in time for fall semester in 2025.

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DevelopmentFloridaMultifamilySoutheast

Kushner, PTM Partners Launch Preleasing at 36-Story Apartment Tower in Miami

by John Nelson

MIAMI — Kushner and PTM Partners have launched preleasing at 2000 Biscayne Boulevard, a 36-story apartment tower underway in Miami’s Edgewater district. The property will feature 420 studio, one-, two- and three-bedroom luxury apartments ranging in size from 500 to 1,500 square feet. Kushner and PTM have appointed SERHANT. New Development as the marketing and leasing agency of record for the building. Designed by Kobi Karp Architecture and Restoration Hardware for interiors, each unit will feature modern flooring, stainless steel appliances, Italian kitchen cabinetry and bathroom vanities, floor-to-ceiling windows and private terraces in select units. Amenities will include a fitness center with a sauna and massage treatment rooms, gaming club room, children’s play area, pet spa, resort-style pool with cabanas and an outdoor gym and yoga area overlooking Biscayne Bay.

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DevelopmentIndustrialLoansMidwestMinnesota

US Department of Energy Provides $213.6M Loan Guarantee for Solugen’s Manufacturing Facility in Minnesota

by Kristin Harlow

MARSHALL, MINN. — The U.S. Department of Energy Loan Programs Office has provided a $213.6 million loan guarantee to support the construction of Solugen’s Bioforge Marshall facility in Southwest Minnesota. The 500,000-square-foot facility will produce bio-based chemical products for use in wastewater treatment, industrial wastewater, construction, agriculture and the energy sector. The project is designed to reduce annual carbon emissions by up to 18 million kilograms compared with incumbent production methods. Construction began in April, and production at the facility is scheduled to begin in fall 2025. The development will create up to 100 jobs during construction and 56 full-time manufacturing jobs once fully operational.

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Plaza-de-Perris_Perris-CA
CaliforniaDevelopmentLoansRetailWestern

BWE Arranges $66.5M Construction Financing for Plaza de Perris Shopping Center Expansion in Perris, California

by Amy Works

PERRIS, CALIF. — BWE has arranged $66.5 million in construction financing for a new phase of development at Plaza de Perris, a retail center located in the Inland Empire city of Perris. Upon completion, the property will span 363,582 square feet and feature a Target location. Wood Investments, the borrower and developer, purchased the center in 2017 and previously completed the addition of 118,000 square feet of retail space at the property in 2019 and 2020. Upon completion of construction, Target will join the center as a tenant. Other tenants at the center, which was 99 percent leased at the time of financing, include Ross Dress for Less, Ulta Beauty, Burlington Coat Factory, Planet Fitness and Five Below. Tom Kenny and Josh Boehling of BWE secured a $55.5 million loan through a life insurance company, as well as an $11 million joint-venture equity investment, on behalf of the borrower. 

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Element-Hotel-Mission-Valley-San-Diego-CA
CaliforniaDevelopmentHospitalityWestern

Driftwood Capital Breaks Ground on 150-Room Element Hotel by Marriott in San Diego

by Amy Works

SAN DIEGO — Driftwood Capital, along with architect AO and general contractor R.D. Olson Construction, has broken ground on Element Hotel by Marriott in the Mission Valley submarket of San Diego. The seven-story, 150-room hotel will be located next to the existing full-service Marriott Hotel Mission Valley. The two hotels will share the pool amenity deck and restaurant space, while each maintaining its own entrance, lobby, lounge and other amenities. Slated for completion in winter 2026, the 98,000-square-foot hotel will feature a 5,300-square-foot conference and ballroom space, a fitness center, meeting rooms and a lobby/lounge, as well as shared exterior main and lounge area. Once completed, the hotel will comply with Title 24 energy and water use criteria, which is similar to LEED’s silver level. Additional project partners include Ficcadenti Waggoner and Castle as structural engineer, Kimley-Horn as civil engineer, RTM Engineering as MEP engineer and Linda Snyder Associates as interior designer.

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DevelopmentMidwestMissouriMultifamily

Brinkmann Constructors Tops Out 255-Unit Luxury Apartment Complex in Maryland Heights, Missouri

by Kristin Harlow

MARYLAND HEIGHTS, MO. — Brinkmann Constructors has topped out The Porter Apartments, a 255-unit luxury apartment complex in the western St. Louis suburb of Maryland Heights. The five-story project is located at Westport Plaza, a 42-acre entertainment district. Amenities will include a clubroom, fitness and yoga center, private courtyard, pool and spa. The development team includes Lodging Hospitality Management, Balke Brown Transwestern, 2B Residential and Humphreys and Partners Architects. Completion is slated for the first quarter of 2025.

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