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DevelopmentFloridaLeasing ActivityRestaurantRetailSoutheast

PEBB, Banyan Ink Seven Retail Leases at Tradition Development in Port St. Lucie, Florida

by John Nelson

PORT ST. LUCIE, FLA. — PEBB Enterprises and Banyan Development have signed seven new retail tenants to join the roster at Shoppes @ the Heart of Tradition, a 71,000-square-foot shopping center within the Tradition master-planned development in Port St. Lucie. The new tenants include Ace of Carts (1,950 square feet); Carmela Coffee (1,800 square feet); Cooper Orthodontist (1,800 square feet); The Joint Chiropractic (1,604 square feet); Papa John’s Pizza (1,602 square feet); Robeks Smoothie (1,340 square feet); and Swift Mediterranean Grill (2,770 square feet). Aldi (19,231 square feet) anchors the shopping center, which has three inline spaces available for lease and three available outparcel sites ranging from one to three acres. PEBB and Banyan expect to complete exterior construction of Shoppes @ the Heart of Tradition this summer, with tenant build-outs commencing after.

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DevelopmentFloridaIndustrialSoutheast

Stonemont Delivers 1.3 MSF Speculative Industrial Park in Fort Pierce, Florida

by John Nelson

FORT PIERCE, FLA. — Stonemont Financial Group has completed South Florida Logistics Center 95, a 1.3 million-square-foot industrial park in Fort Pierce, a city in Southeast Florida’s St. Lucie County. The complex is located at the intersection of South Kings Highway and Orange Avenue, near I-95 and the Florida Turnpike. At 1.1 million square feet, Building 1 at the complex is the largest speculative building in Southeast Florida, according to Stonemont, while Building 2 spans 245,000 square feet. The design-build team includes construction firm Evans General Contractors, architect Ware Malcomb and civil engineer Engineering Design & Construction Inc. Sky Groden of JLL’s Fort Lauderdale office is handling leasing at South Florida Logistics Center 95, both buildings of which are available for lease.

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DevelopmentFloridaHospitalitySoutheast

Hyatt to Renovate, Rebrand 354-Room Hotel in Miami Beach

by John Nelson

MIAMI BEACH, FLA. — Hyatt Hotels Corp. plans to renovate The Confidante Miami Beach, a 354-room hotel that comprises three towers overlooking the Atlantic Ocean. The hotel giant is rebranding The Confidante as Andaz Miami Beach and plans to debut the overhauled hotel in the fourth quarter. The hotel’s owner, Sunstone Hotel Investors Inc., will suspend operations from late March through the end of the hotel’s renovation. The improvements will include a redesigned lobby, two reconceptualized pools and outdoor recreation experience and redesigns for the hotel’s spa, guestrooms, suites and 25,000 square feet of event and meeting space. Sunstone and Hyatt are also partnering with a new culinary provider, José Andrés Group, at Andaz Miami Beach, including an outdoor venue on the second level called Andaz Lounge. The hotel will be the first Florida property for the Andaz brand, which has 29 properties globally to date.

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DevelopmentSelf-StorageSoutheastVirginia

Madison Capital, BCDC Break Ground on Five-Story Self-Storage Property in Charlottesville, Virginia

by John Nelson

CHARLOTTESVILLE, VA. — A joint venture between Madison Capital Partners and Batson-Cook Development Co. (BCDC) has broken ground on Go Store It Self Storage Charlottesville, a five-story self-storage facility. The 704-unit property will be located at the intersection of Rio Road West and Seminole Trail, about three miles north of the University of Virginia. The 92,585-square-foot facility will feature climate-controlled units, interior loading areas and 24/7 security. Project partners include general contractor BenCo Construction, architect JMN Architecture and civil engineer Shimp Engineering. United Bank is providing construction financing to Madison Capital and BCDC, which expect to deliver Go Store It Self Storage Charlottesville in early 2025.

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DevelopmentLeasing ActivityMixed-UseMultifamilyRetailSoutheastTennessee

Portman Signs Solidcore to Retail Lease at Starling Residential Tower in Nashville

by John Nelson

NASHVILLE, TENN. — Portman has signed fitness chain [solidcore] to a retail lease at Starling, a 363-unit residential tower underway in Nashville’s Germantown neighborhood. The fitness concept, which focuses on high-intensity, low-impact training in 50-minute group classes, will join a tenant roster that will include Toastique, Social Cantina and Retrograde Coffee. Preleasing efforts at Starling are currently underway, with the first units delivering in May. Portman plans to debut [solidcore] this fall, marking the concept’s second location in Nashville.

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2515-McKinney-Dallas
DevelopmentOfficeTexas

Michael Walker Construction Completes Renovation of 178,970 SF Uptown Dallas Office Building

by Taylor Williams

DALLAS — General contractor Michael Walker Construction has completed the multimillion-dollar renovation of 2515 McKinney Avenue, an 18-story, 178,970-square-foot office building in Uptown Dallas. The project delivered a full facelift of the lobby and added new tenant amenities, including a fitness center, conference center, outdoor patio areas and expanded food-and-beverage options. Entos Design served as the project architect. Stream Realty Partners leases the building, which is owned by institutional investors advised by J.P. Morgan Global Alternatives.

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Affordable HousingDevelopmentMidwestMultifamilyOhio

Woda Cooper Breaks Ground on $13.8M Affordable Housing Community in Zanesville, Ohio

by Kristin Harlow

ZANESVILLE, OHIO — Woda Cooper Cos. Inc. has broken ground on Munson Crossing, a 43-unit affordable housing community in Zanesville, about 50 miles east of Columbus. The co-developer for the $13.8 million project is Housing Services Alliance. Munson Crossing is located in the West Main Street Community Reinvestment Area (CRA) on the site of the former Munson Elementary School building, which was demolished last year. Munson Crossing will provide 14 one-bedroom units that offer 663 square feet, 23 two-bedroom apartments with 858 square feet and six three-bedroom units totaling 1,105 square feet each. Projected rental rates will range from $330 to $1,025 per month, depending on unit size and the resident’s income. All units are reserved for tenants whose income is 30 to 80 percent of the area median income. Amenities will include a multipurpose room with kitchenette, package room, laundry room and dedicated supportive service space. The project received housing tax credits allocated by the Ohio Housing Finance Agency, which also provided an equity bridge loan and will provide a second permanent mortgage. PNC Bank provided $6.1 million in Low-Income Housing Tax Credit equity. RiverHills Bank is the construction lender, providing a loan of $7.8 million. Cedar Rapids Bank …

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Terra-Bluffs-Parker-CO
ColoradoDevelopmentMultifamilySeniors HousingWestern

HDG Opens Terra Bluffs Seniors Housing Community in Parker, Colorado

by Amy Works

PARKER, COLO. — Health Dimensions Group (HDG), along with co-owners Ellipsis and Invesque, has opened Terra Bluffs, an assisted living and memory care community in Parker. The property is located southeast of Denver. Details such as the number of units were not disclosed. HDG provides oversight of the community’s day-to-day operations. Ellipsis is the project developer for the care community and Invesque is the project’s investment partner.

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DevelopmentMidwestRetailTop StoriesWisconsin

Kohl’s to Roll Out 200 Babies R Us, 140 Sephora Stores at Its Retail Locations This Year

by John Nelson

MENOMONEE FALLS, WIS. — Kohl’s (NYSE: KSS) has announced plans to roll out 200 Babies R Us shops this fall at existing Kohl’s locations. The first Babies R Us shop will debut at an undisclosed Kohl’s store in August. Additionally, the company plans to open 140 more Sephora shops at Kohl’s this summer. The Menomonee-based retail giant is partnering with WHP Global, the owner of the Babies R Us brand, in the rollout. WHP Global purchased the Babies R Us and Toys R Us brands in 2021, four years after the brands’ parent company filed for Chapter 11 bankruptcy. WHP Global is undertaking a similar rollout of Toys R Us locations at cruises and airports, along with new flagship stores. Kohl’s has more than 850 Sephora shops within Kohl’s stores, with each Sephora occupying roughly 2,500 square feet. Currently there are Sephora shops within Kohl’s stores across 48 states. “Not only are we well on our way to having a Sephora presence in every Kohl’s store across America, but we’re also seeing strong sales momentum from our current stores, and the experience is bringing new customers to Kohl’s,” says Nick Jones, Kohl’s chief merchandising and digital officer. Kohl’s reports that …

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DevelopmentFloridaMultifamilySoutheast

MG Developer Tops Off 559-Unit Metro Parc Apartment Development in Hialeah, Florida

by John Nelson

HIALEAH, FLA. — MG Developer has completed the vertical construction of Metro Parc, a 559-unit transit-oriented apartment community located in Hialeah, approximately 13 miles outside Miami. Upon completion, the two-tower building will feature residences with two bedrooms and two bathrooms ranging from 500 to 800 square feet. Amenities at the community will include coworking space, an outdoor kitchen, pool and a gym. The property will also feature ground-floor retail space, including a Latin-inspired food marketplace. Metro Parc is the first phase of the Metro Center development, which will comprise roughly 2.3 million square feet of multifamily and retail space and is scheduled for completion in 2027.

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