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Burbank-Boulevard-Senior-Housing-Los-Angeles-CA
Affordable HousingCaliforniaDevelopmentMultifamilySeniors HousingWestern

TCA Architects, Mercy Housing Complete Affordable Seniors Housing Project in Los Angeles

by Amy Works

LOS ANGELES — California-based TCA Architects and Mercy Housing California have completed Burbank Boulevard Senior Housing, an affordable housing development for seniors age 55 and older in Los Angeles’ Sherman Oaks neighborhood. Permanent supportive housing is a housing model that combines low-barrier affordable housing, healthcare and supportive services to help residents lead more stable lives, according to TCA Architects and Mercy Housing. Situated on three acres, Burbank Boulevard Senior Housing features 55 studio and one-bedroom units that accommodate single senior occupants. Each apartment features individual kitchens and bathing facilities. The property also offers common recreation spaces and laundry facilities on each floor. Construction began in May 2021 and the property was built in accordance with the latest Cal-Green Building Code standards. Move-ins began in October 2023, and the waitlist is currently closed for the property. The asset is aiming for at least LEED Silver certification.

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DevelopmentNew MexicoRetailWestern

Whole Foods Market to Open 47,327 SF Location in Albuquerque

by Amy Works

ALBUQUERQUE, N.M. — On Feb. 22, Whole Foods Market will open a new location at 2100 Carlisle Blvd. NE in Albuquerque. The store is the relocation of an existing Albuquerque store at 2103 Carlisle Blvd. NE, which has served the community for more than 30 years. The new, larger location will feature upgraded amenities, including expanded prepared foods and bakery departments, and a larger and more accessible parking lot. The new store will also carry an expanded product assortment, including more than 400 local items from New Mexico. Whole Foods Market Albuquerque will be open from 9:00 a.m. to 9:00 p.m. opening day. Regular store hours will be 7:00 a.m. until 9:00 p.m. MST daily.

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Borden-Complex-Queens
DevelopmentMixed-UseNew YorkNortheast

Innovo Property Group Nears Completion of 220,000 SF Film, TV Production Studio in Queens

by Taylor Williams

NEW YORK CITY — Locally based firm Innovo Property Group (IPG) is nearing completion of Borden Studios, a 220,000-square-foot film and TV production facility in the Long Island City area of Queens. The facility is part of The Borden Complex, a 900,000-square-foot industrial project that is a redevelopment of a former warehouse of online grocer FreshDirect. Borden Studios will feature four sound stages ranging in size from 11,800 to 16,200 square feet, 43,000 square feet of office space, 56,000 square feet of support space and more than 8,800 square feet of outdoor amenity and gathering space. Full completion is slated for the spring. IPG acquired the asset in January 2019 with Atalaya Capital Management and Nan Fung Group for $75 million and subsequently received a $155 million construction loan in early 2021. Long-term financing was secured in summer 2022, and the development team topped out the project in February 2023.

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AcquisitionsDevelopmentIllinoisLeasing ActivityMidwestRetail

Fortec Purchases Former School District Headquarters in Barrington, Illinois, Inks Lease with Nest Schools

by Kristin Harlow

BARRINGTON, ILL. — Fortec, a Miami-based real estate development company focused on educational projects, has purchased the former Barrington School District headquarters in suburban Chicago for $695,000. Fortec is investing an additional $2.8 million in remodeling the building and creating an adjacent playground. The developer has signed a 17-year lease with The Nest Schools, an early childhood education operator with over 50 locations nationwide. The Nest Schools is slated to open this summer and will serve approximately 200 children ages six weeks to 12 years. Milo Spector of Northmarq represented Fortec in the transaction. Jennifer Hopkins and Olivia Czyzynski of SVN Chicago Commercial represented the seller, the Board of Education of Barrington Community Unit School District Number 220. The Barrington School District utilized the 12,413-square-foot property from the early 1970s until 2019.

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Disneyland-Christmas-Parade
Affordable HousingDevelopmentHospitalityMultifamilyRetailTop Stories

Disney Proposes $1.9B Expansion of Disneyland Theme Park in Anaheim

by Taylor Williams

ANAHEIM, CALIF. — The Walt Disney Co. (NYSE: DIS) has proposed a $1.9 billion expansion of its Disneyland Resort and surrounding neighborhood in Anaheim, south of Los Angeles in Orange County. If approved, the various new projects would be carried out within 10 years of the approval date, with the potential for another $600 million in capital investment to follow. The proposal, known as DisneylandForward, calls for new attractions and hotels to be constructed on the west side of Disneyland Drive. In addition, the theme park’s operators are looking to add new shopping, dining and entertainment space to the southeast at a site that currently houses parking for the Toy Story attraction. The proposal was originally discussed with the Anaheim City Council last Thursday. According to a summary of that meeting, the proposal does not request that any new acreage, square footage or hotel rooms be developed, but rather that approved development plans be shifted onto lands that Disney already owns. As part of the proposal, Disney would invest about $85 million of its own money in various infrastructural improvements in the area, including upgrades to parking structures, roads and pedestrian bridges. To make the project possible, the City of …

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Data CentersDevelopmentSoutheastVirginia

PowerHouse Data Centers Acquires 145 Acres in Northern Virginia, Plans Data Center Campus

by John Nelson

SPOTSYLVANIA, VA. — PowerHouse Data Centers has acquired 145 acres in Spotsylvania, with plans to develop a data center campus at the site. A joint venture with Harrison Street, the property will serve the data-intensive needs of hyperscale users in Northern Virginia. Dubbed PowerHouse 95, the project will feature three 300-megawatt (MW) substations, the first of which is currently under development and scheduled to provide 150 MWs of power by October 2025. Upon completion, the first substation will provide sufficient power to construct eight or more high-density data centers, and PowerHouse will have the capability to construct four to eight powered shells and two additional substations. McLean, Va.-based American Real Estate Partners (AREP) fully owns and operates PowerHouse.

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DevelopmentFloridaHealthcareSoutheast

Cullinan Properties Opens 150,000 SF VA Mental Health Center in Temple Terrace, Florida

by John Nelson

TEMPLE TERRACE, FLA. — Cullinan Properties has opened the new Tampa VA Mental Health Center in Temple Terrace, about 10 miles northeast of Tampa. Totaling 150,000 square feet, the facility will house multiple mental health programs, including outpatient mental health consultation services, therapy, substance abuse treatment, intensive case management, post-traumatic stress disorder (PTSD) treatment and employment and peer services. Outdoor amenities at the site, which spans 20 acres, include gardens, courtyards and walking paths. Cullinan broke ground on the development in 2021. The project team also included architecture and design firm Leo A. Daly, general contractor Hoar Construction, civil engineer Prosser and property management firm Lincoln Harris CSG.

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DevelopmentIndustrialLeasing ActivityNorth CarolinaSoutheast

Bosch Rexroth Signs 234,706 SF Industrial Lease in Pineville, North Carolina

by John Nelson

PINEVILLE, N.C. — Bosch Rexroth, a manufacturer of automated machines and hydraulic equipment, has signed a 234,706-square-foot industrial lease at Carolina Logistics Park, a 308-acre industrial park in Pineville. Construction on the build-to-suit facility, which will be situated about 15 miles south of Charlotte at 12026 Carolina Logistics Drive, is scheduled to begin in February, with completion expected in December. Beacon Partners is the developer and landlord of Carolina Logistics Park. Other tenants at the property include W.W. Grainger Inc., Amazon, Carolina Foods and Empire Distributors, which occupy a total of more than 2.5 million square feet of manufacturing and logistics space. Kent Ilhardt, Ryan Harder, Matt Treble and Patrick McGrath of Cushman & Wakefield represented Bosch Rexroth in the lease negotiations. The project team includes general contractor The Conlan Co., Merriman Schmitt Architects and Orsborn Engineering Group.

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Park-290-Austin
DevelopmentIndustrialTexas

Brookfield Properties Breaks Ground on 792,139 SF Industrial Project in East Austin

by Taylor Williams

AUSTIN, TEXAS — Brookfield Properties has broken ground on Park 290, a 792,139-square-foot industrial project that will be located off Decker Lane in East Austin. Park 290 will consist of four buildings that will range in size from 76,000 to 321,000 square feet. Building features will include 32- to 36-foot clear heights, ample car and trailer parking and LEED certifications. CBRE is the leasing agent for the project, which is expected to be complete before the end of the year.

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DevelopmentIndustrialTexas

LG Electronics Opens 100,000 SF Manufacturing Facility in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — LG Electronics, a division of South Korean conglomerate LG Corp., has opened a 100,000-square-foot manufacturing facility in Fort Worth for the assembly of electric vehicle (EV) charging stations. According to local broadcast news outlet WFAA, the facility is located at 2153 Eagle Parkway in the Alliance submarket on the city’s north side. The facility will have an annual production capacity of more than 10,000 units and has been designed with support for future expansion in mind.

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