ST. CHARLES, ILL. — Continental Properties has opened Springs at St. Charles, a 320-unit townhome-style apartment community in St. Charles, about 40 miles west of Chicago. Located at 405 Smith Road, the property features a mix of studio, one-, two- and three-bedroom floor plans. Residences have private entrances and attached garage options. Amenities include a resort-style pool, clubhouse, outdoor grill area, 24-hour fitness center, car care area and two leash-free dog parks. The property is situated less than a 10-minute drive from the 800-acre DuPage Business Center, which includes employers such as Amazon, Norix Group Inc., Suncast Corp. and Alton Industry Group. Springs at St. Charles marks the seventh Springs apartment community in metro Chicago.
Development
YUMA, ARIZ. — Sprouts Farmers Market will open a 23,228-square-foot store in Yuma, marking the second location in the city for the Phoenix-based grocer. In addition to the Yuma Foothills Sprouts store, the property will feature an additional 11,250 square feet of attached, inline retail space. The Spencer Cos. is the landlord and project developer. Regan Amato of JLL’s Phoenix office represented Sprouts in the lease negotiations, and Thomas J. Pancrazi of A.T. Pancrazi Real Estate Services represented The Spencer Cos. A construction timeline was not disclosed.
GlobalFoundries Plans $11.6B Expansion of Semiconductor Manufacturing Plant in Upstate New York
by John Nelson
MALTA, N.Y. — GlobalFoundries (NASDAQ: GFS), a leading semiconductor manufacturer headquartered in Upstate New York, plans to invest a total $11.6 billion over the next 10 years to expand its Fab 8 manufacturing base in Malta, a city north of Albany in Saratoga County. The investment includes an expansion of its existing facility and the development of a new 358,000-square-foot plant. GlobalFoundries says the investment will triple its capacity to manufacture semiconductors, with the ultimate goal of producing 1 million semiconductor wafers per year at its Malta campus at full operation. The planned enhancements will create more than 1,500 direct jobs and 9,000 indirect construction jobs over the next 10 years, according to the office of New York Gov. Kathy Hochul. Concurrently, GlobalFoundries will receive $1.5 billion in direct funding from the U.S. Department of Commerce as part of the U.S. CHIPS and Science Act, a law ratified by U.S. President Joe Biden in Aug. 2022. The company will use the federal government funding in the Malta projects, as well as for enhancements planned at GlobalFoundries’ Fab 9 facility in Essex Junction, Vt. Also known as computer chips, semiconductors are an essential element of nearly all electronic and computing devices, including …
— By Elise Kunihiro and Maura Schafer — Historic building adaptive reuse creates a bridge between the past and the future, resulting in places that can become the hearts and souls of their communities. The reuse of these buildings offers community benefits, such as sustainability, new public spaces and character. Reactivate local economies Beyond revitalizing older buildings, adaptive reuse projects can also support small local business owners. A 1922 brick office building in the East Village Arts District of downtown Long Beach, Calif., for example, now hosts Partake Collective. The 25,000-square-foot cloud concept and food hall incubator allows visitors to support local restauranteurs while dining in a communal food hall or sidewalk dining area. Studio One Eleven served as the project’s architect, while RDC did interiors and procurement. The goal of this redevelopment model was to create a benchmark for future development that celebrates food diversity and enhances community building. It doesn’t hurt that Partake Collective remains an active and engaged member of the Long Beach community by working with local educational institutions to support pathways to private enterprise, business ownership and job opportunities for the most underrepresented communities. Partake Collective has already partnered with culinary programs at Browning High …
Catalfumo Cos. Receives Approval for 620 Additional Units at Gardens Station Multifamily Project in South Florida
by John Nelson
PALM BEACH GARDENS, FLA. — Catalfumo Cos. has received approval from the City of Palm Beach Gardens for the development of an additional 620 multifamily units at its Gardens Station project in South Florida. Project partner The Richman Group of Cos. is currently underway on the construction of the originally planned 398 units. Located at 11025 RCA Center Drive, the community will total 1,016 apartments, with more than 100 residences dedicated to workforce housing. Gardens Station is situated within the larger PGA Station transit-oriented development, which also features office space and apartment community The Marc, which is scheduled for delivery later this year. The new addition to Gardens Station was designed by Corwil Architects. A construction timeline was not disclosed.
ARDEN AND ASHEVILLE, N.C. — Trilogy Investment Co. will develop three rental townhome communities in metro Asheville. Located in the city of Asheville and the unincorporated community of Arden, the Rêve Communities-branded properties will total 267 units across 35 acres. Amenities at each community will include 24-hour maintenance, valet trash, a clubhouse, pool, playground and a dog park. Construction is scheduled to begin in the third quarter of this year, with preleasing expected to begin in mid-2025.
FAYETTEVILLE, ARK. — Fayetteville-based fast casual restaurant chain Slim Chickens has signed a franchise deal for seven new restaurants in the state of Maryland. Franchisee DDR Holdings, a venture between brothers Darrin and Dennis Atlas, will open the units. DDR Holdings currently owns and operates two Slim Chickens stores in the state. The Slim Chickens brand has opened in more than 255 locations across the United States and the UK, with more than 1,200 stores currently in development.
RoadOne IntermodaLogistics Leases Full 422,136 SF Industrial Building in Jacksonville
by John Nelson
JACKSONVILLE, FLA. — RoadOne IntermodaLogistics has signed a 422,136-square-foot industrial lease at 1000 Imeson Park Blvd. in Jacksonville. A joint venture between North Signal Capital and an affiliate of Fox Capital Partners, doing business as JAX-IMESON JV LLC, is the landlord. Luke Pope of JLL represented the landlord in the lease negotiations. The tenant will fully occupy the property, which features tilt-up concrete construction, 36-foot clear heights, an ESFR sprinkler systems, LED lighting, 216 car parking spaces, 180 trailer parking spaces and two drive-in doors. RoadOne plans to implement improvements at the facility, including the addition of dock levelers to each of the 81 dock-high doors, fencing around the entire site, a guard shack and a 100,000-square-foot climate-controlled section. RoadOne is operating in the warehouse throughout the construction, which is scheduled for completion later this year.
SAN MARCOS, TEXAS — Z Modular, a subsidiary of steel manufacturer Zekelman Industries, is nearing completion of Flatz 512, a $62 million multifamily project in the Central Texas city of San Marcos, according to a report from Community Impact Newspaper. When complete later this year, Flatz 512 will offer studio, one-, two- and three-bedroom units. Amenities will include a pool, fitness center, pickleball court, coffee bar, spa, sports simulator lounge, outdoor grilling stations and walking trails. Construction began in 2020, and South Carolina-based Greystar is managing the property, according to the local news outlet.
AUBREY, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager Resmark Cos., is underway on construction of a 134-unit build-to-rent residential project in Aubrey, located in Denton County. Designed by Architecture Demarest and known as Oak Grove, the development will offer one-, two- and three-bedroom homes ranging in size from 770 to 1,625 square feet. Amenities will include a pool, fitness center, coworking space, an outdoor kitchen and a dog park. Rents will start at $2,000 per month for a one-bedroom home.