SEATTLE — Aegis Living has opened Aegis Living Laurelhurst in the Laurelhurst neighborhood of Seattle, near the University of Washington (UW). The six-story building features 147,911 square feet of space and 136 assisted living apartments. Aegis Development LLC is the developer, Ankrom Moisan Architects is the architecture firm and Exxel Pacific is the general contractor. Aegis Living Laurelhurst is Aegis’ 38th community and the second one to open this year.
BEDMINSTER, N.J. — MetLife Investment Management has unveiled plans to reposition its 197-acre office campus in Bedminster, about 45 miles west of New York City, into a life sciences development named Bedminster Technology Center. MetLife has retained JLL to lead the repositioning of the property. Formerly home of AT&T and long known as One AT&T Way, the property consists of four interconnected buildings totaling 939,795 square feet. The campus includes a global network operations center, heliport and 15 acres of covered and surface parking. AT&T built the campus for its own use in 1975. MetLife acquired the property, which is now fully vacant, in 2006. The Township of Bedminster has rezoned the property to accommodate up to 2 million square feet of total development targeted toward biotech research and development and advanced manufacturing uses. Additionally, about 300,000 square feet is available for a conference center, hotel and amenities that could include a fitness center, restaurants and/or retail. Dan Loughlin is leading a JLL team that will market the property for single or multi-tenant lease, sale or site redevelopment with acreage for sale. According to JLL, Bedminster Technology Center presents an opportunity to create the first life sciences development in the …
DALLAS — Miami-based developer Resia, formerly known as AHS Residential, has completed a 336-unit, garden-style multifamily project in West Dallas. Resia Dallas West features one-, two- and three-bedroom units, including 17 affordable housing residences, across eight three-story buildings. All units feature private balconies or patios. Amenities include a pool, fitness center and a business center. Leasing began in October 2023, at which points rents started at $1,280 per month for a one-bedroom unit. Fifth Third Bank and Chicago-based Pearlmark financed construction of the project.
HOBOKEN, N.J. — Locally based developer LCOR has broken ground on Hoboken Connect, a $900 million mixed-use project in Northern New Jersey. The waterfront development will consist of a 386-unit apartment complex, a 21-story office building, 5,000 square feet of retail and restaurant space and open public space. Within the multifamily component, 20 percent of the residences will be reserved as affordable housing, while the office building will total 704,355 square feet. Both of these buildings will house various Class A amenities. The development team will also make various infrastructural improvements to the site. A tentative completion date was not disclosed.
NEW YORK CITY — A partnership between locally based developer Naftali Group and holding company Access Industries is underway on construction of Williamsburg Wharf, an 850-unit multifamily development in Brooklyn. The 3.8-acre site is located on Kent Avenue between Division Street and South 11th Street, adjacent to the Brooklyn Navy Yard. Williamsburg Wharf will be a waterfront campus with five 22-story buildings that will also house retail and commercial space. Williamsburg Wharf will also feature an open lawn, public waterfront park, dog run and various walking and biking paths. The first phase is slated for a late 2025 completion.
MELVILLE, N.Y. — A joint venture between Creation, a developer with offices in Phoenix and Dallas, and J.P. Morgan Asset Management has sold Baylis 495 Business Park, a 103,500-square-foot industrial facility located in the Long Island community of Melville. Miami-based REIT BentallGreenOak purchased the property for $44 million. The eight-acre site is located about a mile south of the Long Island Expressway, and the building features a clear height of 32 feet, 20 dock doors and two drive-in bays. Marc Duval, Jordan Avanzato, Jason Lundy, Nicholas Stefans, Jose Cruz and Steve Simonelli of JLL brokered the deal. At the time of sale, Baylis 495 Business Park was fully leased to Keurig Dr. Pepper.
LYNDHURST, N.J. — Locally based developer Woodmont Properties has completed the renovation of a 30,000-square-foot industrial building in the Northern New Jersey community of Lyndhurst. The building at 2 Terminal Road is used for both storage and distribution purposes. Specific improvements included the installation of a new roof and front entrance; fresh painting of the building’s interior and exterior; new paving and landscaping; and the addition of built-out office space and additional loading doors.
KIRKLAND, WASH. — JLL Capital Markets has arranged the acquisition of a land parcel at the corner lot of 13005 and 13003 NE 70th Place in Kirkland, across Lake Washington from Seattle. Mill Creek Residential purchased the asset from Totem Bowl and Investments for $26.2 million in an off-market transaction. The 139,223-square-foot land parcel currently features the TechCity Bowl building that will be demolished to develop a fully approved, 369-unit, mid-rise multifamily community. Of the 369 units, 36 will be affordable. Additionally, the property will offer 6,700 square feet of retail space and 425 parking stalls. Jordan Louie, Corey Marx, David Young, Chris Ross, Michael Lyford and Reed Curtis of JLL Capital Markets Investments Sales and Advisory represented the buyer in the transaction.
BROWN DEER, WIS. — Jewish Family Services Inc. is scheduled to break ground on Woodale Crossing on Thursday, May 16. The 56-unit affordable and supportive seniors housing community will be located at 4114 W. Woodale Ave. in Brown Deer, a northern suburb of Milwaukee. Of the total units, 25 percent will be reserved for persons with disabilities who are in need of support services. Residents will have access to onsite supportive services that include socialization and skill-based programming, social services and independent living support services. Jewish Family Services has a subsidiary, JFS Housing Inc., which develops affordable housing.
DUNWOODY, GA. — The Dunwoody City Council has approved the rezoning of Phase IV of Park Center, a 17-acre, transit-oriented office campus in metro Atlanta. The master developer of the project is KDC, a Dallas-based corporate development and investment firm. The amended zoning will allow KDC to change its plans from a standalone fourth office tower to a two-tower project that will comprise 175 hotel rooms, 300 residential units, 22,000 square feet of retail space and 300,000 square feet of office space. The plan includes two towers on a common podium with a 20-story apartment tower and a combined office and hotel tower, where six floors of hotel rooms will sit atop 12 levels of office space. Phase IV represents the final phase of Park Center and will occupy the last undeveloped portion of the development, which was originally conceived as a 2.2 million-square-foot East Coast hub for State Farm Insurance. The project team includes local architecture firm Cooper Carry. The current campus contains three office towers developed over the past 10 years: the 600,000-square-foot Park Center One, which is directly connected to the Dunwoody MARTA Station; the 621,000-square-foot Park Center Two with more than 39,000 square feet of retail …
