Development

Masonite Opens 626,718 SF Manufacturing, Distribution Facility in Mesquite, Texas

by Taylor Williams November 20, 2023

MESQUITE, TEXAS — Masonite, a provider of interior and exterior doors for commercial and residential buildings, has opened a 626,718-square-foot manufacturing and distribution center in the eastern Dallas suburb of Mesquite. The facility, which is Masonite’s second in the area, can support operations such as door assembly, direct fulfillment, pre-finishing/painting and product display via a showroom. In addition, the site offers proximity to several major thoroughfares, including State Highway 80 and Interstates 20 and 635. Dallas-based Dalfen Industrial owns the building.

November 20, 2023

Affordable Housing Arizona Development Multifamily Seniors Housing Western

Pennrose Breaks Ground on $28M Affordable Seniors Housing Project in Phoenix

by Amy Works November 20, 2023

PHOENIX — Pennrose, Butler Housing Co., CBC Financing Corp., the City of Phoenix, the Arizona Department of Housing and additional project partners have broken ground on Garfield Housing Phase II, an affordable housing community for low-income seniors in Phoenix’s Garfield neighborhood. The project is located at 1510 E. Portland St. Located adjacent to the Garfield Commons affordable housing community, the second phase will deliver 60 affordable apartments with community amenities and on-site supportive services for seniors age 55 or older. Completion is slated for winter 2024. The four-story, 58,000-square-foot community will include a mix of studio and one-bedroom apartments available to residents earning between 20 percent and 60 percent of the area median income. Additionally, the energy-efficient project will meet National Green Building Standards and offer a variety of amenities, including a fitness room, management suite, multi-purpose room, outdoor recreation area with seating, and parking. Bank of America (LIHTC equity and construction loan), Cedar Rapids Bank and Trust (permanent loan) and the City of Phoenix (HOME loan) provided financing for the $28 million project. U.S. Rep. Ruben Gallego’s office also arranged $500,000 in Congressional Program Funds for the development.

November 20, 2023

California Development Multifamily Student Housing Western

Kapital Partners Plans 39-Unit Student Housing Community Near Santa Clara University

by Amy Works November 20, 2023

SANTA CLARA, CALIF. — Kapital Partners has announced plans for a 39-unit student housing development located at 2655 The Alameda near the Santa Clara University campus in California. The property will also feature 1,500 square feet of retail space on the first floor. Shared amenities at the community will include a barbecue, ping pong tables and picnic tables for residents. Construction is scheduled to begin in 2024 with completion scheduled for 2025.

November 20, 2023

Development Multifamily New Jersey Northeast

PEEK Properties Begins Leasing 138-Unit Apartment Complex in Orange, New Jersey

by Taylor Williams November 20, 2023

ORANGE, N.J. — Locally based development and management firm PEEK Properties has begun leasing The Highland, a 138-unit apartment complex in the Northern New Jersey community of Orange. The five-story building houses a mix of studio, one- and two-bedroom apartments that range in size from 533 to 1,163 square feet. Amenities include a resident lounge, fitness center, dog park and outdoor grilling and dining stations. Information on starting rents was not disclosed.

November 20, 2023

Acquisitions Development Multifamily New Jersey Northeast

CBRE Brokers $8.5M Sale of Multifamily Development Site in Hoboken

by Taylor Williams November 20, 2023

HOBOKEN, N.J. — CBRE has brokered the $8.5 million sale of a multifamily development site located at 921-931 Madison St. in Hoboken, located just outside New York City. Locally based firm AIRN Management sold the site, which formerly housed the operations of Water Music Studios, to an undisclosed private developer that plans to construct a 36-unit building with roughly 10,000 square feet of retail space. Fahri Ozturk, Richard Gatto, Zach McHale and Jeff Babikian of CBRE brokered the deal.

November 20, 2023

Development Midwest Multifamily Student Housing Wisconsin

CRG Tops Out 534-Bed Chapter at Madison Student Housing Community in Wisconsin

by Kristin Harlow November 20, 2023

MADISON, WIS. — CRG has topped out Chapter at Madison, a 534-bed student housing community rising 10 stories near the University of Wisconsin-Madison. The property is nearly two-thirds preleased ahead of its completion date, which is slated for September 2024. Located at 802 Regent St. within the historic Greenbush neighborhood, Chapter at Madison will feature 165 units in a mix of studio, one-, two-, three-, four- and five-bedroom floor plans ranging from 395 to 1,633 square feet. Monthly rental rates per bed will range from $999 to $1,859. Amenities will include a fitness center, yoga studio, rooftop terrace, underground parking garage and private study spaces. The development will also house 2,200 square feet of ground-floor commercial space. Lamar Johnson Collaborative is the architect, and Madison-based Findorff is the general contractor.

November 20, 2023

Development Healthcare Illinois Midwest

McHugh Construction Completes Five-Story Healthcare Facility for Howard Brown in Chicago

by Kristin Harlow November 20, 2023

CHICAGO — McHugh Construction has completed a new five-story healthcare facility and medical office for Howard Brown, the Midwest’s largest LGBTQ healthcare organization, in Chicago’s Lakeview neighborhood. The property at 3501 N. Halsted St. offers primary care and dental services. The building, which features 38 exam rooms and 12 dental chairs, is expected to serve 23,000 patients per year. Eckenhoff Saunders was the architect. A two-story lobby features an open staircase that leads to the various offices, exam and consultation rooms located on the second through fifth floors. A Walgreens store and pharmacy occupies the building’s street-level retail space. A rooftop terrace is available for clinic events and functions. Howard Brown developed the project in partnership with Inland National Development Co. McHugh Concrete, a sister company of McHugh Construction, was the concrete subcontractor.

November 20, 2023

Data Centers Development Leasing Activity Southeast Virginia

TA Realty Signs Tenant for 1.9 MSF Build-to-Suit Data Center Project in Metro D.C.

by John Nelson November 17, 2023

LEESBURG, VA. — TA Realty has signed a build-to-suit lease agreement with an unnamed tenant at its 1.9 million-square-foot data campus project in Leesburg, approximately 40 miles outside of Washington, D.C. The tenant, a global cloud services provider, will occupy the entirety of the property. Construction of the development, which will comprise five buildings, is scheduled to begin later this year. Completion is scheduled for 2027.

November 17, 2023

Development Florida Multifamily Southeast

Oak Row, LNDMRK to Develop 324-Unit 2900 Terrace Apartment Community in Miami

by John Nelson November 17, 2023

MIAMI — Oak Row Equities and LNDMRK Development will develop 2900 Terrace, a 324-unit luxury apartment community in the Edgewater neighborhood of Miami. Final design plans include residences in one-, two- and three-bedroom layouts, many of which will feature wraparound terraces and home offices. Arquitectonica designed the property, which will be situated on 1.5 acres with 500 parking spots, including electric vehicle charging stations. Amenities will include a fitness center, yoga studio, pet spa, coworking spaces with podcast studios, content creator studio, card room, resident lounge, treatment rooms, sauna, golf simulator, theater and a children’s playroom. Outdoor amenities will include a swimming pool, cold plunge, poolside cabanas and lounge seating, barbecue grills and picnic seating, a hot tub, summer kitchen, two padel courts, a children’s playground and a coworking terrace. Move-ins are scheduled to begin in 2026.

November 17, 2023

Development Georgia Industrial Southeast

Dermody Plans 181,000 SF Industrial Project in Douglasville, Georgia

by John Nelson November 17, 2023

DOUGLASVILLE, GA. — Dermody Properties plans to develop LogistiCenter at Bright Star, a 181,000-square-foot industrial project located in Douglasville, roughly 23 miles west of Atlanta. Upon completion, the property will feature two logistics buildings that will be divisible for up to three tenants each. Building 1 will comprise 113,400 square feet and feature 32-foot clear heights, 50- by 45-foot column spacing with a 60-foot speed bay, 28 dock-high doors, two drive-in doors, approximately 90 car parking spaces and ESFR fire protection. Building 2 will total 68,040 square feet with 32-foot clear heights, 40- by 54-foot column spacing with a 60-foot speed bay, 26 dock-high doors, two drive-in doors, approximately 50 car parking spaces and ESFR fire protection. Construction is scheduled to begin early next year. Mason Marstellar of Hughes Commercial Real Estate represented Dermody Properties in the deal.

November 17, 2023

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