Development

Cannabis Facility Construction Transforms Former Restaurant Property into Cannabis Dispensary in Suburban Chicago

by Kristin Harlow November 30, 2023

TINLEY PARK, ILL. — Cannabis Facility Construction (CFC) has completed the Ascend Tinley Park recreational cannabis dispensary for Ascend Wellness Holdings Inc. in the Chicago suburb of Tinley Park. The 4,900-square-foot property at 16200 S. Harlem Ave. was formerly home to Chili’s and the Dugout sports bar. The project build-out included new lighting, custom-milled wood walls, multimedia display screens, illuminated product display cases and flexible point-of-sale stations. The building now features a state-of-the-art security system, custom mural by a local artist and expanded parking. The project marks the seventh Illinois dispensary that CFC has built for Ascend.

November 30, 2023

Development Office Texas

Harwood International to Develop 23-Story Office Building in Uptown Dallas

by Taylor Williams November 30, 2023

DALLAS — Harwood International will develop Harwood No. 15, a 23-story, 340,000-square-foot office building that will be situated within the locally based developer’s 19-block namesake district in Uptown Dallas. Harwood No. 15 will feature spa-like amenities, including saunas, steam rooms and a cold plunge, as well as a conference center, fitness center and a 20,000-square-foot rooftop park. The design team includes Kengo Kuma & Associates and Corgan. Construction is set to begin in mid-2024 and to be complete in late 2026. Harwood most recently completed the 27-story Harwood No. 14, which is now 76 percent leased. The entire Harwood District currently has an occupancy rate of about 93 percent.

November 30, 2023

Development Multifamily Texas

Ryan Cos. Tops Out 345-Unit Multifamily Project in Austin’s Mueller District

by Taylor Williams November 30, 2023

AUSTIN, TEXAS — Minneapolis-based developer Ryan Cos. has topped out Rivette Tower, a 345-unit apartment community located in Austin’s Mueller District. The project comprises two three- and five-story buildings with 2,500 square feet of retail space on the ground floor. Units will feature one-, two- and three-bedroom floor plans, with 15 percent of the residences (about 50 units) reserved for renters earning up to 60 percent of the area median income. Amenities will include a pool, rooftop deck, coworking space and outdoor gathering areas. The first units are expected to be available for occupancy next spring. Construction began in March 2022.

November 30, 2023

Development Multifamily Seniors Housing Texas

JPI Begins Leasing 185-Unit Independent Living Community in Anna, Texas

by Taylor Williams November 30, 2023

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.

November 30, 2023

Development Georgia Mixed-Use Southeast

North American Properties to Add Entertainment Elements to 2.4 MSF Avalon Project in Metro Atlanta

by John Nelson November 30, 2023

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.

November 30, 2023

Development Industrial North Carolina Southeast Top Stories

Dai Nippon Printing to Develop $233M Battery Pouch Manufacturing Facility in Linwood, North Carolina

by Katie Sloan November 30, 2023

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 …

November 30, 2023

Development Georgia Industrial Southeast

Trammell Crow, MetLife Break Ground on First Phase of 4.7 MSF Industrial Park Near Savannah

by John Nelson November 29, 2023

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.

November 29, 2023

Development Loans Maryland Multifamily Southeast

JLL Arranges $92.3M Construction Loan for Apartment Development in North Bethesda, Maryland

by John Nelson November 29, 2023

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.

November 29, 2023

Development Industrial Kentucky Southeast

UPS Supply Chain Solutions Opens $79M Logistics Facility in Shepherdsville, Kentucky

by John Nelson November 29, 2023

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.

November 29, 2023

Development Industrial Texas

Creation, Crow Holdings Complete 555,790 SF Industrial Project in Mesquite, Texas

by Taylor Williams November 29, 2023

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.

November 29, 2023

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