Development

Adolfson & Peterson Completes 242,000 SF Office Building in Plano

by Taylor Williams May 4, 2023

PLANO, TEXAS — General contractor Adolfson & Peterson has completed a 242,000-square-foot office building within International Business Park, a 300-acre campus in Plano by locally based developer Billingsley Co. The five-story building is adjacent to a 175,000-square-foot building that was completed in 2020 and features a fitness center, conference facilities, tenant lounge and a mini-mart. GFF served as the architect for the project, which also included the construction of a 584-space parking garage. JLL has been tapped as the leasing agent.

May 4, 2023

Development Illinois Midwest Multifamily

McShane Completes Construction of 285-Unit Domain CityGate Apartment Complex in Suburban Chicago

by Kristin Harlow May 4, 2023

NAPERVILLE, ILL. — McShane Construction Co. has completed Domain CityGate, a 285-unit luxury apartment complex in the Chicago suburb of Naperville. Located in the town’s CityGate Centre, the project rises four stories and features a parking garage with 430 spaces. Atop the parking garage is a 38,000-square-foot rooftop event space. Amenities include a resident lounge, remote workspaces, a fitness center, bike lounge, pool and cabanas, fire pits, private pickleball court and dog run. Units come in a mix of studio, one- and two-bedroom floor plans. Monthly rents start at $1,775 for one-bedroom units, according to the property’s website. Lincoln Property Co. and Calamos Real Estate were the co-developers. Callison RTKL served as architect.

May 4, 2023

Development Industrial Midwest Nebraska

Darland Breaks Ground on 408,332 SF Spec Warehouse in Gretna, Nebraska

by Kristin Harlow May 4, 2023

GRETNA, NEB. — Darland Construction Co. has broken ground on a 408,332-square-foot speculative warehouse near the Nebraska Crossing Outlets in Gretna, about 20 miles southwest of Omaha. NewStreet Properties is the developer and plans to build the larger Gretna Logistics Park, which will feature nearly 2 million square feet upon full build-out. The first warehouse will feature a clear height of 36 feet, 41 docks and four drive-in doors. Completion of the building is slated for March 2024. Cushman & Wakefield/Lund Co. is handling leasing for the new development.

May 4, 2023

Development Industrial Texas

Brennan Investment Group to Develop 157,300 SF Industrial Project in North Houston

by Taylor Williams May 4, 2023

HOUSTON — Chicago-based Brennan Investment Group will develop a 157,300-square-foot industrial project on a 10.8-acre site at 500 N. Sam Houston Parkway W in North Houston. The rear-load building, which can support a single user or multiple tenants, will feature 32-foot clear heights, an ESFR sprinkler system and ample trailer parking. Completion is slated for the third quarter of 2024.

May 4, 2023

Arizona Development Mixed-Use Multifamily Western

Opus Group Opens 335-Unit Melody on Main Apartments in Mesa, Arizona

by Jeff Shaw May 4, 2023

MESA, ARIZ. — The Opus Group has begun leasing the multifamily component of Melody on Main in Mesa. The mixed-use project includes 335 apartment units consisting of studios, one-, two- and three-bedroom apartments. Amenities include a resort-style pool, 24-hour fitness center, yoga studio, bocce ball court and a dog park and spa. Melody on Main also includes 20,000 square feet of retail space. Two of five buildings in the community are now open. Melody on Main is scheduled to be fully complete in March 2024. Griffin Capital Co. was a co-developer on the project. MT Builders is the general contractor, and P.B. Bell is providing property management services. Melody on Main is one of 12 communities that Griffin Capital Qualified Opportunity Zone Fund II is developing, which will comprise 4,096 units with an estimated total project cost of approximately $1.3 billion.

May 4, 2023

Affordable Housing Development Loans Multifamily New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $81.7M in Financing for Affordable Housing Projects in The Bronx

by Taylor Williams May 4, 2023

NEW YORK CITY — Walker & Dunlop has arranged $81.7 million in financing for the development of three affordable housing projects totaling 179 units in The Bronx. The financing consists of $50.8 million in construction debt that was provided by CIT and $30.9 million in limited partnership equity with CBRE Investment Management. Aaron Appel, Mo Beler, Jonathan Schwartz, Adam Schwartz, Keith Kurland and Michael Ianno of Walker & Dunlop arranged the financing on behalf of the borrower, a partnership between Spaxel LLC and Atalaya Capital Management. Information on specific income restrictions and a construction schedule were not disclosed.

May 4, 2023

Arizona Data Centers Development Industrial Top Stories Western

Prime Reveals Plans for $2B Data Center Campus in Metro Phoenix

by Katie Sloan May 4, 2023

AVONDALE, ARIZ. — Prime, a global developer and operator of data centers, has announced plans for a $2 billion data center campus in Avondale, roughly 20 miles outside Phoenix. The development will include five data center buildings spanning 1.3 million square feet, generating a total of 210 megawatts of critical power upon completion. The speculative project will target occupancy by hyperscale service providers, large internet brands and global technology companies. The data centers will span 260,400 square feet across three stories, and have access to a wholesale dark fiber connectivity network. Each building will include 12 data halls and 120,000 square feet of white space — which is the space where IT equipment is placed within a data center — alongside separate infrastructure galleries. The campus will offer access to 100 percent renewable energy and a closed-loop cooling system, which is expected to save millions of gallons of water across the facilities. The first data center building is expected for completion in the third quarter of 2025. “Phoenix presents an incredible growth opportunity for Prime as a top-five, North American data center market with increasing demand from cloud and enterprise data center buyers,” says Chris Sumter, executive vice president of …

May 4, 2023

Development Loans Multifamily Washington Western

Grandview North Receives $57M in Construction Financing for Harrington Place Apartments in Ferndale, Washington

by Jeff Shaw May 3, 2023

FERNDALE, WASH. — Grandview North has received $57 million in construction financing for Harrington Place, a 350-unit, multi-phase apartment community in Ferndale, located near the Pacific Coast and the Canadian border. Construction is already underway on the property, located at 6276 Portal Way. Bayview Asset Management provided capital through Bayview PACE, which provided $12 million in Commercial Property-Assessed Clean Energy (C-PACE) funding. An affiliate, Oceanview Life and Annuity Co., also brought in $45 million of construction financing. Mortgage broker Seattle-based CapNorth helped arrange the transaction.

May 3, 2023

Development Industrial Nevada Western

Alton Industries Buys 19-Acre Plot in Henderson, Nevada for New Headquarters

by Jeff Shaw May 3, 2023

HENDERSON, NEV. — Alton Industries has purchased a 19-acre parcel of land in Henderson for $13.6 million. The global manufacturer plans to build a 200,000-square-foot facility to use as its West Coast headquarters on the land. The site was a land assemblage totaling three parcels on Whitney Mesa Drive near Sunset Boulevard and Mountain Vista Street. Chris Lexis, Joe Leavitt and Scott Donaghe of Avison Young represented the sellers, Roseman University of Health Sciences and the City of Henderson.

May 3, 2023

California Development Life Sciences Western

New Stanford Research Park Office Building in Palo Alto Receives Approval

by Jeff Shaw May 3, 2023

PALO ALTO, CALIF. — A 52,000-square-foot building that will be added to Stanford Research Park in Palo Alto has received approval from the city. The building is one of the first of its size in Silicon Valley to be designed and approved for sustainable mass-timber construction. The building will be almost entirely made of wooden and glass construction. Form4 Architecture designed the project.

May 3, 2023

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