ANNA, TEXAS — Locally based developer JPI, in partnership with the City of Anna, has begun leasing Parmore Anna Senior Living, a luxury independent living community located approximately 50 miles north of Dallas. The property will be the first of its kind in Anna and JPI’s second installment in its new line of senior housing developments. The Anna Housing Finance Corp. is also a partner on the project. The 150,000-square-foot community will span over nine acres and include 185 apartments. Rents start at $1,100 per month for a one-bedroom unit.
ALPHARETTA, GA. — North American Properties (NAP) has announced plans for the addition of new entertainment elements at Avalon, a 2.4 million-square-foot mixed-use development located in the Atlanta suburb of Alpharetta. Construction is scheduled to begin in January 2024 and will include the addition of a raised, covered performance stage and an LED screen. The features will comprise 576 and 180 square feet, respectively. Avalon comprises 500,000 square feet of retail space, in addition to a hotel and office and residential space. NAP developed the project in 2012 and manages the property on behalf of PGIM, which acquired the development in 2016 for $500 million.
Dai Nippon Printing to Develop $233M Battery Pouch Manufacturing Facility in Linwood, North Carolina
LINWOOD, N.C. — Tokyo-based Dai Nippon Printing Co. (DNP) has announced plans to develop a $233 million manufacturing facility in Linwood, approximately midway between Charlotte and Greensboro. The development will produce battery pouches that encase and protect lithium-ion batteries for electric vehicles. While further details on the building itself were not disclosed, DNP plans to complete the project by 2026. The factory will be the company’s first advanced manufacturing facility in the U.S. DNP hopes to expand the facility in the coming years to also manufacture jumbo rolls, which are another type of casing for lithium-ion batteries. The project is facilitated in part by a recently approved Job Development Investment Grant (JDIG) from North Carolina’s Economic Investment Committee, the state’s department of commerce leads. The department estimates the project will grow North Carolina’s economy by $691 million over the course of the grant’s 12-year term. Through the agreement, DNP can potentially be reimbursed $2.7 million by the state over the grant’s term, dependent upon tax revenues generated by new jobs created by the development. “From the east to the west, North Carolina’s electric vehicle industry is growing exponentially,” said North Carolina Commerce Secretary Machelle Baker Sanders. “Our natural resources and …
RINCON, GA. — A joint venture between Trammell Crow Co. and MetLife Investment Management has broken ground on the first phase of Coastal Trade Center, a 4.7 million-square-foot industrial park in Rincon, a suburb of Savannah in Effingham County. The project will be situated on a 477-acre site about 15 miles northwest of the Port of Savannah. Set for completion in late 2024, Phase I of Coastal Trade Center will comprise three cross-dock facilities spanning 1.2 million square feet, 640,640 square feet and 473,760 square feet. Phase II will comprise two cross-dock facilities spanning 1.4 million square feet and 611,520 square feet, as well as a front-load facility totaling 362,880 square feet. Trammell Crow Co. and MetLife plan to break ground on Phase II upon completion of Phase I. Bennett Rudder, Ryan Hoyt, Chris Tomasulo and Lindsey Wilmot of JLL are handling the leasing assignment for Coastal Trade Center.
NORTH BETHESDA, MD. — JLL has arranged a $92.3 million construction loan for a 354-unit, 12-story luxury apartment community planned for North Bethesda, a Maryland suburb of Washington, D.C. Located at 5400 McGrath Blvd., the project is dubbed Parcel H. Jon Mikula, Jim Cadranell, Jamie Leachman and Ryan Carroll of JLL arranged the four-year, floating-rate loan through SMBC on behalf of the borrower, LCOR. Upon completion, the development will offer one-, two- and three-bedroom units, as well as nine penthouse units, averaging 881 square feet in size. Amenities will include a fitness center, outdoor pool, courtyard with grilling stations and fire pits, resident lounge with coworking stations, designated meeting rooms and tech pods, indoor and outdoor children’s’ playrooms, a dog park and a penthouse lounge featuring gaming areas and a golf simulator. Parcel H represents the final property within The Quad, a four-property portfolio of apartment communities in North Bethesda built by LCOR. The other three properties include Wentworth House (built in 2008), Aurora (2014) and Arrowood (2021). Together, The Quad will total 1,300 adjacent apartments operated by LCOR.
SHEPHERDSVILLE, KY. — UPS Supply Chain Solutions, the logistics and freight forwarding arm of Atlanta-based parcel services giant UPS, has opened a new $79 million warehouse and distribution center in Shepherdsville, a southern suburb of Louisville in Bullitt County. The facility, dubbed Velocity, is situated about 15 south of the UPS Worldport, the company’s central airline hub that can process 4 million packages and 300 flights daily. The new facility is also located 16 miles south of Louisville Muhammad Ali International Airport via I-65. The size and address of the new UPS logistics facility was not disclosed, but Kate Gutmann, president of UPS International, Healthcare and Supply Chain Solutions, says the automated facility can process 350,000 units daily. UPS has invested millions in its logistics operations in the Louisville market over the years. In October 2022, UPS announced a $330 million investment across two new logistics facilities in the Louisville metro area that created 435 new jobs. Last November, the company broke ground on two new UPS Healthcare facilities and a new aircraft hangar for UPS Airlines.
MESQUITE, TEXAS — A partnership between Phoenix-based developer Creation Equity and Crow Holdings Capital has completed Mesquite 635, an industrial project located on the eastern outskirts of Dallas that totals roughly 556,000 square feet. Mesquite 635 comprises two rear-load buildings and one front-load building. Building A spans 159,728 square feet and features 32-foot clear heights and 37 trailer parking spots. Building B comprises 156,144 square feet and offers 32-foot clear heights and 27 trailer stalls. Building C totals 239,918 square feet and features 36-foot clear heights and 46 trailer parks. LGE Design Build served as the project architect and general contractor.
GRAND PRAIRIE, TEXAS — Locally based developer JPI has begun leasing Jefferson Cove, a 283-unit apartment community in Grand Prairie, located roughly midway between Dallas and Fort Worth. Jefferson Cove offers one-, two- and three-bedroom floor plans that feature ceramic tile backsplashes, individual washers and dryers and private patios/balconies. Amenities include a pool, fitness center, dog park, outdoor grilling and dining stations, a conference room, resident lounge and multiple courtyards. Rents start at $1,420 per month for a one-bedroom apartment.
PHILADELPHIA — New Jersey-based developer Saxum Real Estate has broken ground on a 187-unit multifamily project in Philadelphia’s Northern Liberties neighborhood. The project marks the second phase of a larger, 466-unit development. Amenities will include a pool, courtyard, fitness center and a dog wash. Michael Klein, Tom Didio and Ryan Ade of JLL arranged undisclosed amounts of construction financing through Corebridge Financial and joint venture equity from an unnamed partner on behalf of Saxum Real Estate. Information on floor plans and an expected completion date was also not disclosed.
WESTWOOD, MASS. — Developer Lightstone Life Sciences is nearing completion of The Labs@128 Station, a 165,000-square-foot project in Westwood, a southern suburb of Boston. Upon completion, which is slated for the first quarter of 2024, Labs@128 Station will offer turnkey spaces that will be subdividable down to 5,000 square feet. J. Calnan & Associates is the general contractor for the project. Newmark is the leasing agent.