Development

Graycor Completes Construction of 45,000 SF Wonderverse Entertainment Space in Suburban Chicago

by Kristin Harlow April 8, 2024

OAK BROOK, ILL. — Graycor Construction Co. has completed Wonderverse, a 45,000-square-foot entertainment space at Oakbrook Center in suburban Chicago. The project features a hybrid of physical and multi-media experiences, interactive installations, attractions and experiences, allowing visitors to step into their favorite Sony Pictures stories. Sony is the project’s owner. The space includes escape rooms, virtual reality adventures, bumper cars, racing simulators, an arcade and speakeasy. The project team included Scenario as the owner’s representative and EXP as the architect of record.

April 8, 2024

Acquisitions California Development Single-Family Rental Western

Impact Real Estate Sells Residential Development Site in San Diego for $1.3M

by Amy Works April 8, 2024

SAN DIEGO — Impact Real Estate LLC has sold a development site in San Diego to Gabriel Mauser for $1.3 million. The buyer plans to develop 11 accessory dwelling units (ADU) on the 30,493-square-foot property, which is located at 6353 Broadway. Aaron Bove of Marcus & Millichap represented the seller, while Simon Oliveri procured the buyer in the deal.

April 8, 2024

Arizona Development Mixed-Use Multifamily Retail Western

Wespac Construction Completes Culdesac Tempe Mixed-Use Neighborhood in Arizona

by Amy Works April 5, 2024

PHOENIX — Wespac Construction has completed work on three mixed-use buildings at Culdesac Tempe, a car-free, mixed-use development at 2025 E. Apache Blvd. in Tempe, just east of Phoenix. Situated on 17 acres, Culdesac Tempe will feature 44 apartments and 24,000 square feet of retail space. The site underwent extensive clearing, grading and utility installation. Additionally, a 2,500-square-foot restaurant shell and tenant improvement were constructed for Cocina Chiwas, a full-service restaurant. Key features include a 6,700-square-foot fitness facility and the 4,700-square-foot Market Building that spans three levels and features 16 apartments. DAVIS and Opticos designed the project, which Culdesac owns and developed.

April 5, 2024

California Development Industrial Loans Mixed-Use Restaurant Retail Western

Gantry Secures $7.1M in Financing for Auteur Wines Facilities in Healdsburg, California

by Amy Works April 5, 2024

HEALDSBURG, CALIF. — Gantry has arranged a $7.1 million construction-to-permanent loan for the build-to-suit development of dedicated facilities for Auteur Wines, a vintner-founded winery specializing in Pinot Noir and Chardonnay. Located at 10520 Wohler Road in the Sonoma County city of Healdsburg, the project will include a production winery, tasting room and vineyard on 8.2 acres. Jeff Wilcox and Andrew Ferguson of Gantry’s San Francisco production office represented the borrower, a private real estate investor. The 20-year, construction-to-permanent, fixed-rate loan was provided through one of Gantry’s banking relationships and features an initial interest-only period transitioning to an 18-year amortization.

April 5, 2024

Development Multifamily Texas

Midway Opens 359-Unit Laura Apartments at East River in Houston

by Taylor Williams April 5, 2024

HOUSTON — Midway has opened The Laura, a 359-unit multifamily project that is part of the Houston-based developer’s initial phase of the 150-acre East River development in Houston’s Historic Fifth Ward. Designed by Munoz + Albin with EDI International as the architect of record, The Laura features studio, one- and two-bedroom apartments that range in size from 431 to 1,432 square feet. Amenities include a fitness center, dog park, pool, grilling stations, outdoor yoga space and a lawn for games and passive recreation. OHT Partners served as the general contractor for the project, construction of which began in late 2021. Rents started at $1,600 per month for a studio when leasing began last fall.

April 5, 2024

Affordable Housing Development Multifamily Texas

NRP Group Completes 330-Unit Mixed-Income Housing Project in Austin

by Taylor Williams April 5, 2024

AUSTIN, TEXAS — Cleveland-based multifamily developer The NRP Group has completed The Markson, a mixed-income housing project in the Barton Springs area of Austin. Named after former company executive Dan Markson, the $60 million property comprises 330 units, more than half of which will be reserved for renters earning 80 percent or less of the area median income. Amenities include a pool, dog park, conference rooms, coworking lounge, coffee bar, fitness center, game room, outdoor kitchen, volleyball and bocce ball courts and access to surrounding nature trails. The NRP Group developed The Markson in partnership with the Housing Authority of the City of Austin. Amegy Bank and J.P. Morgan Asset Management provided financing for the project. According to the property website, monthly rents at The Markson’s essential worker living units start at $1,442 while market-rate units start at $1,790.

April 5, 2024

Development Multifamily North Carolina Southeast

Swinerton Underway on $97.8M Oxbow Apartment Community in Charlotte

by John Nelson April 5, 2024

CHARLOTTE, N.C. — General contractor Swinerton is underway on the development of Oxbow, a $97.8 million apartment community located within The Mill District in Charlotte. Swinerton is constructing the property on behalf of the developer, Space Craft. Upon completion, which is set for fall 2026, Oxbow will total 398 units across six floors and feature 14,300 square feet of ground-floor retail space. Apartments will range from studio to four-bedroom layouts. Amenities will include a gym, rooftop patio, bike storage and a resident courtyard. Swinerton is using cross laminated timber for Oxbow’s façade that was fabricated by affiliate firm Timberlab at its facility in Greenville, S.C.

April 5, 2024

Development Florida Retail Self-Storage Southeast

Futura, Linkvest Capital Deliver 130,000 SF Self-Storage, Retail Facility in Orlando

by John Nelson April 5, 2024

ORLANDO, FLA. — Futura and Linkvest Capital have completed the construction of Nona Cove Self Storage, a 130,000-square-foot development featuring self-storage and retail space at 14800 Narcoossee Road in the Lake Nona neighborhood of Orlando. The facility — which comprises 122,000 square feet of self-storage space and 8,000 square feet of retail space — is part of the first phase of Futura at Nona Cove, a 17-acre mixed-use project anchored by a new 260-unit apartment community. Managed by Extra Space, Nona Cove Self Storage includes 1,046-square-foot bays with a gated drive-thru and is currently 57 percent leased.

April 5, 2024

Acquisitions Development Retail South Carolina Southeast

Reedy River Retail Arranges Land Sale in Upstate South Carolina for Publix-Anchored Retail Center

by John Nelson April 5, 2024

MAULDIN, S.C. — Reedy River Retail at SVN Blackstream has arranged the acquisition of a 10.9-acre development site located at 1116 Ashmore Bridge Road in Mauldin, roughly 10 miles south of Greenville, S.C. The buyer, Atlanta-based Venture South Investments, plans to develop a Publix-anchored shopping center at the site. Dustin Tenney and Daniel Holloway of Reedy River Retail represented the buyer in the $4.6 million transaction. Plans for the site include the development of a 63,000-square-foot retail center anchored by a 45,000-square-foot Publix grocery store, as well as two outparcels. A construction timeline was not disclosed.

April 5, 2024

Development Industrial Massachusetts Northeast

Camber Development Breaks Ground on 237,800 SF Warehouse in Wilmington, Massachusetts

by Taylor Williams April 5, 2024

WILMINGTON, MASS. — Boston-based Camber Development has broken ground on a 237,800-square-foot warehouse at 800 Salem St. in the northern Boston suburb of Wilmington. Designed by Dacon Corp., the building will feature a clear height of 36 feet, 47 dock positions and parking for 332 cars and 33 trailers. Camber is developing the project in partnership between Connecticut-based Wheelock Street Capital. JLL arranged construction financing for the project, which is expected to be complete before the end of the year.

April 5, 2024

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