Development

Davis Opens 16,147 SF Medical Office Building in Wayzata, Minnesota

by Kristin Harlow June 27, 2023

WAYZATA, MINN. — Davis has opened the Wayzata Specialty Center, a 16,147-square-foot medical office building in Wayzata, about 13 miles west of Minneapolis. Tailwind Pediatric Dentistry and Lorenz Clinic are leasing the entire second floor of the two-story building. LAK MedSpa occupies a portion of the first floor. The project replaced an outdated office building. The project team included Synergy Architecture Studio and Timco Construction. In addition to serving as developer, Davis is providing property management and leasing services for the building. Two suites on the first floor remain available for lease.

June 27, 2023

Arizona Development Industrial Western

Martens, Willmeng Break Ground on 723,508 SF Mission Park Industrial Project in Buckeye, Arizona

by Jeff Shaw June 27, 2023

BUCKEYE, ARIZ. — Martens Development and Willmeng Construction have broken ground on Mission Park, a Class A industrial development in Buckeye. Located at near I-10 and Perryville Road in the emerging Buckeye industrial submarket, the 723,508-square-foot project will comprise two buildings. The north building will feature 196,353 square feet with 32-foot clear heights. The south building will encompass 527,155 square feet with 40-foot clear heights. Both are scheduled for completion in the second quarter of 2024.

June 27, 2023

Arizona Development Industrial Western

Blue Vista, Kentwood Ventures Start Construction of KV Casa Grande Industrial Building in Arizona

by Jeff Shaw June 27, 2023

CASA GRANDE, ARIZ. — Blue Vista Capital Management and Kentwood Ventures have started construction of KV Casa Grande, a Class A industrial building in Casa Grande, southeast of Phoenix. The 314,453-square-foot project will feature 32-foot clear heights, a 175-foot concrete truck court, 32 dock-high doors and 14 grade-level doors. The building will utilize tilt-up construction and a panelized thermoplastic polyolefin roofing, which improves energy efficiency by reflecting heat and is resistant to ultraviolet, ozone and chemical exposures. The project is currently 15 percent pre-leased. It is scheduled for completion in summer 2024.

June 27, 2023

Development Loans Multifamily New Jersey Northeast

JLL Arranges $49.7M Construction Loan for Multifamily Project in Livingston, New Jersey

by Taylor Williams June 27, 2023

LIVINGSTON, N.J. — JLL has arranged a $49.7 million construction loan for Highgate at Livingston, a 169-unit multifamily project that will be located in Northern New Jersey. The complex will offer one, two- and three-bedroom units that will be furnished with stainless steel appliances, walk-in closets and individual washers and dryers. Amenities will include a pool, fitness center, clubhouse, coworking lounge, outdoor grilling and dining areas and a dog run. Michael Gigliotti, Matthew Pizzolato, Michael Lachs and Benjamin Morgenthal of JLL arranged the floating-rate loan through Truist Bank on behalf of the borrower, Continental Properties.

June 27, 2023

Development Georgia Restaurant Retail Southeast

200 Peachtree Group Underway on Two Restaurant Developments in Downtown Atlanta

by John Nelson June 26, 2023

ATLANTA — 200 Peachtree Group , an Atlanta-based owner and operator of food-and-beverage/entertainment brands, is underway on the development of two restaurants located at 200 Peachtree St. in downtown Atlanta. SKOL Brewing Co., a craft brewery, will comprise 5,000 square feet and is expected to open later this year. Food, beverage and entertainment hall Valhalla Social is scheduled to open in spring or summer 2024 and will total 15,000 square feet, with seating for roughly 300 people. CNNA Architects is the architect for both projects, which hope to capitalize on major tourism events coming to downtown Atlanta, including the 2025 College Football Playoff National Championship and the 2026 FIFA World Cup.

June 26, 2023

Development Midwest Multifamily Ohio

City Club Apartments Tops Off 23-Story Luxury Tower in Cleveland

by Kristin Harlow June 26, 2023

CLEVELAND — City Club Apartments has topped off construction of City Club Apartments-Cleveland, a 23-story luxury apartment tower located at 776 Euclid Ave. in Cleveland. The development will include 304 apartment units and penthouses as well as street-level retail space, including a restaurant, basement speakeasy, lobby café, Sky Club café and doggie daycare and spa. Dubbed an “apartment hotel,” the property will offer residents the option to rent a furnished suite or an unfurnished apartment or penthouse. Amenities will include indoor and outdoor theaters, a heated rooftop pool and hot tub, outdoor kitchen, coworking spaces, a bark park, Zen garden, fitness center, yoga studio, wellness room, business center and conference room. Occupancy is slated to begin in October.

June 26, 2023

Development Illinois Midwest Office

Skender Completes Renovation Project at THE MART Office Building in Chicago

by Kristin Harlow June 26, 2023

CHICAGO — Skender has completed an expansive renovation project at THE MART office building in Chicago. Owner Vornado Realty Trust coined the repositioning initiative as “Evolution of an Icon.” Skender made improvements to four key areas of the building’s second floor: a 29,000-square-foot circulation area, 21,000-square-foot conference center, 23,000-square-foot fitness center and 2,000-square-foot private tenant lounge. In the circulation area, Skender added new Terrazzo flooring and new lounge seating sourced from design showrooms at THE MART. The new conference center is comprised of 15 meeting rooms that accommodate up to 300 people. The area also features a workspace with phone booths, lounge seating, a pantry and satellite service area. The fitness center features a golf simulator, locker rooms, infrared saunas, a cycle room and mind-body room. Overlooking the river is the new tenant-exclusive, speakeasy-inspired lounge with a bar. Gensler was the architect and IMEG Corp. was the engineer.

June 26, 2023

Development Kansas Midwest Multifamily

Brinkmann Constructors Breaks Ground on 361-Unit Luxury Apartment Project in Merriam, Kansas

by Kristin Harlow June 26, 2023

MERRIAM, KAN. — Brinkmann Constructors has broken ground on Merriam Grand Station Lofts, a 361-unit luxury apartment project in Merriam, a southwest suburb of Kansas City. Drake Development is developing the project on the site of a former retail development that has been vacant for 10 years. The development is part of the larger Merriam Grand Station, a $72.5 million project including retail, residential and public gathering space. Merriam Grand Station Lofts will consist of two buildings with 73,000 square feet of below-grade parking. Amenities will include a pool, pet wash station, game rooms and electric vehicle charging stations. Completion is slated for 2025.

June 26, 2023

Arizona Development Mixed-Use Western

HCCJ Family Partners Breaks Ground on 35,000 SF Sunrise Market Mixed-Use Development in Verrado, Arizona

by Jeff Shaw June 26, 2023

VERRADO, ARIZ. — HCCJ Family Partners has broken ground on Sunrise Market, a 35,000-square-foot mixed-use development in Verrado, roughly 30 miles west of Phoenix. Tenants at the property, which is currently 65 percent pre-leased, will include Copper & Sage, Bobazona, Bosa Donut and Honey Nail. James DeCremer, Matt Milinovich, Alec Miller and Drew Sampson of Avison Young manage leasing at the project on behalf of HCCJ. Construction is scheduled for completion in January 2024.

June 26, 2023

Development Loans Multifamily Texas

Cronheim Mortgage Arranges $18.3M Construction Loan for Multifamily Project in Edinburg, Texas

by Taylor Williams June 26, 2023

EDINBURG, TEXAS — New Jersey-based Cronheim Mortgage has arranged an $18.3 million construction loan for Las Vilitas, a 200-unit multifamily project that will be located in the Rio Grande Valley city of Edinburg. An undisclosed regional bank provided the loan, which was structured with three years of interest-only payments followed by a 12-year term. The sponsor is locally based developer Verturo Interests. David Poncia led the transaction for Cronheim Mortgage.

June 26, 2023

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