Development

NR Martens Starts Construction of 278,000 SF Industrial Complex in Phoenix

by Amy Works December 8, 2023

PHOENIX — NR Martens Development Co. (MDC) has broken ground on Park 91, a 20-acre, Class A industrial development at the southwest corner of 91st Avenue and Buckeye Road in Phoenix. The 278,000-square-foot complex is the second phase of Logic Park, a 739,000-square-foot industrial park situated on 44 acres. Park 91 will include a 102,000-square-foot building and a 176,000-square-foot building, with the ability to serve tenants ranging in size from 20,000 square feet to 175,000 square feet. Completion is slated for late 2024. Ware Malcomb is serving as architect, Wespac as general contractor and Kimley-Horn as project engineer. Gary Anderson of Cushman & Wakefield is handling leasing for the project. Trez Capital, a private lender, provided construction financing for Park 91.

December 8, 2023

Civic Development Georgia Southeast Top Stories

U.S. Soccer Federation to Develop $228M National Training Center in Metro Atlanta

by Jeff Shaw December 8, 2023

FAYETTEVILLE, GA. — The U.S. Soccer Federation has selected a site in Fayetteville, 22 miles south of downtown Atlanta, to develop its new National Training Center. The facility will be located within the master-planned community of Trilith and will span more than 200 acres. The development is expected to create 440 new jobs and costs $228 million to develop, according to the State of Georgia. The National Training Center will serve as the headquarters for U.S. Soccer, which is currently based in Chicago. Plans for the facility include a dozen soccer fields; more than 100,000 square feet of indoor courts for all 27 of the U.S. Soccer national teams; and 200,000 square feet of facilities, locker rooms, meeting rooms and headquarters space for U.S. Soccer employees. The federation plans to break ground on the project in the spring of 2024. Arthur Bank, co-founder of The Home Depot and owner of Major League Soccer team Atlanta United and the NFL’s Atlanta Falcons, contributed $50 million to the development. According to U.S. Soccer, the site was chosen due to its proximity to the Hartsfield-Jackson Atlanta International Airport and Atlanta’s downtown area, optimal climate for year-round programming, the ability to impact the local …

December 8, 2023

Development Multifamily Texas Walker & Dunlop

Trademark to Develop 321-Unit Multifamily Project in Downtown Fort Worth

by Taylor Williams December 7, 2023

FORT WORTH, TEXAS — Trademark Property Co. will develop The Vickery, a 321-unit multifamily project that will be located at the corner of Hemphill Street and West Vickery Boulevard in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery will consist of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge. Residential amenities will include a pool, rooftop lounge, coworking space and two dog parks. First United Bank provided a $61 million construction loan for the project that was arranged by Heather McClure and Jonathan Paine of Walker & Dunlop. Construction is set to begin early next year and to be complete in spring 2026.

December 7, 2023

Development Florida Industrial Southeast

Hunt Midwest, Boyd+Mox Complete 251,388 SF Speculative Industrial Facility in Central Florida

by John Nelson December 7, 2023

OCALA, FLA. — Kansas City-based Hunt Midwest and locally based Boyd+Mox have delivered Ocala South Logistics I, a 251,388-square-foot speculative industrial facility in Ocala. The property represents Phase I of Ocala South Logistics Park, a 1.4 million-square-foot industrial park situated on 93 acres within Florida Crossroads Commerce Park in Central Florida. Building I features 32-foot clear heights, 67 dock-high doors, two drive-in doors, 60-foot-deep speed bays and 247 car parking stalls. The design-build team includes civil engineer Kimley-Horn, architect LS3P and general contractor Evans General Contractors. Rian Smith, Kris Courier and Josh Tarkow of CBRE are handling the leasing assignment, which includes leasing options for Building I and build-to-suit options for the remainder of the park. The facility, which is the only rear-load warehouse available in the market, is divisible from 50,000 square feet to 251,388 square feet.

December 7, 2023

Affordable Housing Development Kentucky Multifamily Seniors Housing Southeast

Woda Cooper, Housing Services Alliance Open Affordable Seniors Housing Community in Walton, Kentucky

by John Nelson December 7, 2023

WALTON, KY. — Affordable housing developer Woda Cooper Cos. Inc. and Housing Services Alliance have opened Haven Crossing, an affordable seniors housing community in Walton, approximately 20 miles south of Cincinnati. Haven Crossing is a three-story, elevator-served building that provides 33 one-bedroom units and 24 two-bedroom units. It is restricted to residents age 55 and over earning 30 percent to 80 percent of the area median income (AMI). Project partners included Kentucky Housing Corp., Boone County, City of Walton, Marble Cliff Capital and First Financial Bank. Primary financing for the $13.2 million property was supported through the allocation of Low-Income Housing Tax Credit (LIHTC) equity by Kentucky Housing Corp. Marble Cliff Capital invested in the tax credits to provide equity financing. First Financial Bank invested in the project via MCC, and provided the construction loan. Cedar Rapids Bank & Trust is providing permanent debt for the project. Other partners on the project included Grimm Architecture, Chadan Engineering Inc. and Woda Construction Inc. Woda Management & Real Estate will handle leasing and management.

December 7, 2023

Development Industrial Texas

U-Haul to Open 168,400 SF Self-Storage Facility in Princeton, Texas

by Taylor Williams December 7, 2023

PRINCETON, TEXAS — U-Haul will open a six-building, 168,400-square-foot self-storage facility on an eight-acre site in Princeton, located northeast of Dallas. The facility will comprise a four-story, 130,000-square-fot storage building, a 30,000-square-foot warehouse and 8,400 square feet of single-story, drive-up storage buildings. Dallas-based MYCON General Contractors will lead construction of the project, which is now underway and slated for a June 2024 completion.

December 7, 2023

Development Loans Massachusetts Multifamily Northeast Seniors Housing

United Group Receives $35M Construction Loan for Active Adult Project in Worcester, Massachusetts

by Taylor Williams December 7, 2023

WORCESTER, MASS. — The United Group of Cos. Inc. has received a $35 million construction loan for The Arbella at Bramble Hill, a 123-unit active adult project that will be located in the central Massachusetts community of Worcester. The property will span 17 acres and offer one- and two-bedroom apartments across three buildings. The community will also feature an 8,500-square-foot clubhouse. JLL arranged the debt through The Washington Trust Co. on behalf of United Group. Construction is scheduled for an early 2025 completion.

December 7, 2023

Development Illinois Industrial Midwest

Opus Breaks Ground on 360,000 SF Spec Industrial Development in Alsip, Illinois

by Kristin Harlow December 7, 2023

ALSIP, ILL. — The Opus Group has broken ground on Alsip Park 294, a two-building speculative industrial development totaling 360,000 square feet in the southern Chicago suburb of Alsip. Opus is completing the project in a joint venture with Principal Asset Management. Alsip Park 294 will feature immediate access to a full I-294 interchange and visibility from the interstate. Building A will total 190,935 square feet and feature a clear height of 32 feet, 18 dock doors, two drive-in doors and 169 auto parking stalls. Building B will total 169,064 square feet and feature a clear height of 32 feet, 18 dock doors and 138 auto parking stalls. Both buildings have been designed to meet Green Globe certification. Examples of sustainable features include clerestory windows, storefront glazing, LED lighting, motion-activated bay lighting and drought-tolerant landscaping. All stone, precast walls, concrete and asphalt will be locally sourced. Completion is slated for August 2024. Opus is the developer, design-builder, architect and structural engineer. Brian Kling and Jake Spinell of Colliers are marketing the buildings for lease.

December 7, 2023

Company News Development Illinois Midwest Restaurant Retail Top Stories

McDonald’s to Test Small-Format, Beverage-Led CosMc’s Concept with First Location in Metro Chicago

by Katie Sloan December 7, 2023

BOLINGBROOK, ILL. — McDonald’s (NYSE: MCD) has announced plans to test CosMc’s, a new smaller format concept featuring a beverage-led menu with new food and drink items. The first location will open this month in the Chicago suburb of Bolingbrook, where the first McDonald’s franchise location opened in 1955. By the end of 2024, the company plans to open 10 pilot locations for the concept, with target markets set to include the Dallas-Fort Worth and San Antonio metropolitan areas. CosMc’s will offer digital and drive-thru ordering formats only, with dynamic menu boards, cashless payment devices and pick-up windows. The concept’s menu will be beverage-focused, including specialty lemonades and teas, blended beverages and cold brew coffees. Drink offerings — which will include churro- and s’mores-flavored coffees, sour cherry energy drinks and lemonades — will be customizable, to include the addition of boba, energy and Vitamin C shots. CosMc’s locations will also feature a small lineup of food items, including new offerings like a spicy queso sandwich and pretzel and hash brown bites, alongside traditional menu standbys like Egg McMuffin sandwiches and McFlurrys. The new concept is named after CosMc, a mascot that McDonald’s launched in the late 1980s. Chicago-based McDonald’s is …

December 7, 2023

The-Trailhead-at-Chisholm-Trail-Ranch-Fort-Worth

Development Multifamily Texas

Titan Development, Aberg Property Top Out $63M Multifamily Project in Fort Worth

by Taylor Williams December 6, 2023

FORT WORTH, TEXAS — A partnership between Titan Development and Dallas-based investment firm Aberg Property Co. has topped out The Trailhead at Chisholm Trail, a $63 million multifamily project in South Fort Worth. The 284-unit development is situated within the 625-acre Chisholm Trail Ranch master-planned community. Units will be spread across seven buildings and will be available in studio, one-, two- and three-bedroom formats. Amenities will include a pool, dog park and a pickleball court. HEDK Architects is designing the project, and MW Builders the general contractor. Completion is slated for fall 2024. Construction of a second phase will begin in early 2024.

December 6, 2023

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