Thursday, April 24, 2025
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Development

DevelopmentMultifamilySoutheastVirginia

Breeden Construction Delivers 201-Unit Multifamily Community in Chester, Virginia

by John Nelson

CHESTER, VA. — Breeden Construction has completed The Station at Chester, a 201-unit multifamily development in Chester. The developer, Schell Brothers, began the $27.5 million project in March 2021. The five-building development houses 65 one-bedroom units, 126 two-bedroom apartments and 10 three-bedroom units that range in size from 650 to 1,300 square feet. Rental rates range from $1,825 to $2,045 per month, according to Apartments.com. Amenities include a 4,000-square-foot clubhouse, pool with cabanas, an outdoor fireplace and a grilling station. Breeden Construction is set to break ground on several new developments in the area by late 2023.

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DevelopmentMarylandSoutheastStudent Housing

MCB Breaks Ground on 146-Unit Student Housing Project in Northeast Baltimore

by John Nelson

BALTIMORE — MCB Real Estate has broken ground on Flats at the Markley, a 146-unit student housing development in the Beverly Hills neighborhood of northeast Baltimore. Situated along Harford Road, the off-campus property will serve students attending nearby Morgan State University. MCB says the five-story development will feature apartments with in-unit washers and dryers, study rooms, game rooms, onsite parking and an outdoor courtyard. MCB expects to complete Flats at the Markley in summer 2025.

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DevelopmentOfficeTexas

Developers Underway on 83,750 SF Office Condo Project in West Houston

by Taylor Williams

HOUSTON — Developers Milton Allen and Bobby Ferguson are underway on construction of an 83,750-square-foot office condo project in West Houston. Suites will come in a variety of sizes, and the condos will also include flexible workspaces. The project will deliver three properties that will all be marketed for sale upon completion, a tentative date for which was not disclosed.

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CaliforniaDevelopmentOfficeWestern

Worthe Completes 800,000 SF Warner Bros. Headquarters at Burbank Studios in California

by Jeff Shaw

BURBANK, CALIF. — Worthe has completed construction of the 800,000-square-foot office project known as Second Century at Burbank Studios. It will serve as the headquarters for Warner Bros.  The two LEED-certified office buildings are located on the southernmost portion of the Burbank Studios Lot in Burbank. Frank Gehry and his team at Gehry Partners designed the project.  Worthe developed the asset alongside its construction company, Krismar Construction. Stockbridge Real Estate Fund partnered on the project.  Second Century was named in anticipation of the upcoming 100-year anniversary of Warner Bros. The buildings will house about 4,500 Warner Bros. employees.

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CaliforniaDevelopmentIndustrialWestern

Kearny Real Estate, Dune Real Estate Partners Plan Harbor Logistics Center in Santa Ana, California

by Jeff Shaw

SANTA ANA, CALIF. — Kearny Real Estate Company and Dune Real Estate Partners have announced plans to develop Harbor Logistics Center, a 163,000-square-foot industrial facility in Santa Ana.  The new property will replace a recently renovated office campus. Construction is projected to begin in the first quarter of 2024.  Kearny acquired the eight-acre office campus at 3130 and 3100 S. Harbor Blvd. in 2018. It hit the market a year later after Kearny completed a multi-million-dollar renovation and rebranded it as Elevate@Harbor. The office campus will be razed to accommodate the construction of the Harbor Logistics Center.

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DevelopmentMidwestMultifamilyOhio

Flaherty & Collins Breaks Ground on $60M Luxury Apartment Complex in Cleveland Heights

by Kristin Harlow

CLEVELAND HEIGHTS, OHIO — Flaherty & Collins Properties has broken ground on The Marquee at Cedar Lee, a $60 million luxury apartment complex in Cleveland Heights, an eastern suburb of Cleveland. Plans call for 204 units and 8,534 square feet of retail space. The parking garage will hold 225 parking spaces and there will be 42 surface lot spaces surrounding the property. Amenities will include a saltwater pool, courtyard, outdoor sky lounge, pet spa, bark park, fitness center, coworking suites and a 24-hour market. Completion is slated for spring 2025. Flaherty & Collins is developing the project as a public-private partnership with the City of Cleveland Heights. First National Bank of Omaha provided a construction loan. The project team includes general contractor Snavely Group as well as City Architecture and Project Management Consultants.

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DevelopmentLeasing ActivityMichiganMidwestRestaurantRetail

Slim Chickens Inks Deal to Open 25 New Locations Throughout Southeast Michigan

by Kristin Harlow

MICHIGAN — Fast-casual restaurant Slim Chickens has inked a deal to open 25 new locations throughout Southeast Michigan. Business partners Brad and Todd DeLange along with Doug Broadright are spearheading the expansion. Currently, Slim Chickens operates more than 225 locations across the United States and the United Kingdom with more than 1,100 locations in development. Slim Chickens offers 17 different dipping sauces and a variety of menu items such as chicken tenders, salads, sandwiches, chicken and waffles, chicken wings and various sides. The first Slim Chickens opened in 2003 in Fayetteville, Ark. A timeline for the opening of the Michigan locations was not provided.

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DevelopmentLeasing ActivityMidwestRetailWisconsin

Caribou Coffee to Open at New Mixed-Use Development in Brookfield, Wisconsin

by Kristin Harlow

BROOKFIELD, WIS. — Caribou Coffee has signed a lease to open as the inaugural tenant at a new mixed-use development in the Milwaukee suburb of Brookfield. The project is a redevelopment of a former Pepino’s restaurant and a tax preparation office located at the intersection of Capitol and Calhoun roads. Construction is underway, and Caribou Coffee is slated to open this summer. Bill Quinlivan of Colliers | Wisconsin is marketing the property for lease.

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DevelopmentMultifamilyNew JerseyNortheast

Larken Associates Completes 254-Unit Multifamily Project in Readington, New Jersey

by Taylor Williams

READINGTON, N.J. — New Jersey-based developer Larken Associates has completed The Ridge at Readington, a 254-unit multifamily project located about 50 miles southwest of Manhattan. The Ridge at Readington features a mix of market-rate and affordable units in one- and two-bedroom formats across nine buildings. Residences are furnished with stainless steel appliances and quartz countertops. Amenities include a pool, fitness center, lounge and wet bar, outdoor pavilion, dog park and walking trails. Rents start at $1,950 per month for a one-bedroom apartment.

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DevelopmentNevadaRetailTop StoriesWestern

Oakland A’s Reach Agreement for $1.5B Ballpark Development Site on Las Vegas Strip

by John Nelson

LAS VEGAS — The Oakland Athletics have reached an agreement with global casino entertainment company Bally’s Corp. (NYSE: BALY) and Gaming & Leisure Properties Inc. (GLPI) for a nine-acre development site on the 35-acre Tropicana Las Vegas campus. The A’s hope to develop a 30,000-seat ballpark at the site, which is situated along the Las Vegas Strip on Las Vegas Boulevard and Tropicana Avenue. “We are excited about the potential to bring Major League Baseball to this iconic location,” says Dave Kaval, president of the Oakland A’s. “We are thrilled to work alongside Bally’s and GLPI and look forward to finalizing plans to bring the Athletics to Southern Nevada.” Yahoo! Sports is reporting that the baseball club is requesting $395 million in public funds to go toward the estimated $1.5 billion project. The deal is subject to approval by the Nevada Legislature, which could meet to approve funds as early as this week. The project is also dependent on Major League Baseball’s approval of the team’s relocation from Oakland, Calif. Bally’s acquired the building and operations of the Tropicana Las Vegas from GLPI in September 2022 as part of a $148 million transaction. As part of the deal structure, Bally’s entered …

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