Development

Caddell Construction Breaks Ground on 2.1 MSF Industrial Development Near Savannah

by John Nelson December 12, 2023

MIDWAY, GA. — Caddell Construction, on behalf of Flint Development, has broken ground on three Class A distribution centers within Dorchester Commerce Park, an industrial park in the metro Savannah city of Midway. The speculative project totals 2.1 million square feet and is expected to deliver by spring 2025. The development will offer immediate access to I-95 and a 33-mile drive to Port of Savannah. The project team includes Davidson Architecture + Engineering and CBRE. The project will comprise a 1.2 million-square-foot building, a 594,522-square-foot cross-dock facility and a 276,062-square-foot facility, which is expected to open in April. Caddell Construction will establish an onsite batching plant to manufacture its own concrete for the development.

December 12, 2023

Constellation-Commerce-360-Grand-Prairie

Development Industrial Texas

Constellation, Northwestern Mutual to Develop 200,493 SF Industrial Project in Grand Prairie, Texas

by Taylor Williams December 12, 2023

GRAND PRAIRIE, TEXAS — A partnership between Constellation Real Estate Partners and Northwestern Mutual has acquired 10 acres in Grand Prairie, located roughly midway between Dallas and Fort Worth, for the development of a 200,439-square-foot industrial project. Designed by Pross Design Group, Constellation Commerce 360 will comprise two buildings totaling 95,760 and 104,733 square feet. Building features will include 32-foot clear heights, ESFR sprinkler systems, LED lighting and the capacity to accommodate a single or multiple users across both buildings. David Eseke and Clay Balch of Cushman & Wakefield represented Constellation Real Estate Partners in the acquisition of the land and have also been retained as leasing agents. Construction is scheduled to begin in the first quarter of next year and to last about 12 months.

December 12, 2023

Development Indiana Life Sciences Midwest

NexCore Group to Develop $60M Life Sciences Building in Indianapolis

by Kristin Harlow December 12, 2023

INDIANAPOLIS — NexCore Group has unveiled plans to develop Waterway Labs at 16 Tech in Indianapolis. Cushman & Wakefield will provide leasing services for the $60 million development. NexCore expects to break ground in 2024 on the 100,000-square-foot life sciences building. The project will be situated within the 16 Tech Innovation District, which is a 50-acre destination for entrepreneurship and innovation that is located adjacent to the future campuses of Indiana University Indianapolis and Purdue University in Indianapolis. The five-story development will include two types of space as part of NexCore’s HATCHspaces operating platform: HATCHlabs and HATCHx. HATCHlabs will include four levels with 22,000-square-foot floorplates. The HATCHx floor will offer eight turnkey lab suites of 2,000 square feet as well as 10 offices in a coworking environment. Jon Owens and Joshua Graham of Cushman & Wakefield will handle leasing for Waterway Labs.

December 12, 2023

Affordable Housing Development Loans Multifamily Texas

BWE Provides $14.4M HUD-Insured Construction Loan for Denton Affordable Housing Project

by Taylor Williams December 12, 2023

DENTON, TEXAS — BWE, the commercial mortgage banking firm formerly known as Bellwether Enterprise Real Estate Capital, has provided a $14.4 million, HUD-insured construction loan for Westview Heights, a 132-unit affordable housing project in the North Texas city of Denton. Westview Heights will offer one-, two- and three-bedroom units across three buildings that be reserved for households earning between 30 and 60 percent of the area median income, with 22 units being rented at market rates. Amenities will include a pool, fitness center, business center, laundry facilities and outdoor grilling and dining stations. Jon Killough of BWE originated the loan, which is structured with a fixed interest rate and interest-only payments for the duration of construction, through HUD’s 221(d)(4) program. The borrower was Generation Housing Partners. The capital stack also includes Low-Income Housing Tax Credit (LIHTC) equity that was provided by the Texas Department of Housing & Community Affairs.

December 12, 2023

California Development Industrial Western

TCC, Clarion Partners Complete First Phase of Fairfield Industrial Center in Northern California

by Amy Works December 12, 2023

FAIRFIELD, CALIF. — Trammell Crow Co. (TCC) and its joint venture partner Clarion Partners have completed the construction of the first phase of development at Fairfield Industrial Center in Northern California. Located at 2725 Low Court in Fairfield, the first phase includes a Class A, 205,223-square-foot industrial facility, which is currently available for lease by a single user or multiple smaller tenants. Situated on 11 acres, the property features 36-foot clear heights; 56-foot by 47.5-foot column spacing; a 4,000-square-foot turnkey office space; 32 dock doors including 16 docks equipped with 40,000-pound levelers and seals; two grade-level doors; ESFR sprinklers; and 156 auto parking stalls and 44 trailer parking spaces. Additional features at the facility include enhanced exterior glass entries, canopies, façade accents and a landscaped site highlighting water-efficient planting. The joint venture has secured municipal approval for the second phase of development at the project, which will be located at 300 Chadbourne Road and include two Class A industrial buildings totaling 328,553 square feet. Construction for the second phase is expected to begin next year. Kevin Hatcher of CBRE, along with Brooks Pedder and Tony Binswanger of Cushman & Wakefield, are handling leasing for the property.

December 12, 2023

Acquisitions Development Multifamily New York Northeast

JSC Realty Buys Brooklyn Multifamily Development Site for $38.5M, Plans 154-Unit Project

by Taylor Williams December 12, 2023

NEW YORK CITY — Dallas-based JSC Realty & Investment Services has purchased a multifamily development site in Brooklyn’s Boerum Hill neighborhood with plans to construct a 154-unit project. The 113,000-square-foot site at 540 Atlantic Ave. currently houses a five-story office building that was originally constructed in 1924 and will be demolished. Stephen Palmese, Brendan Maddigan, Michael Mazzara, Ethan Stanton and Winfield Clifford of JLL represented the seller, locally based firm DMA Associates, in the land sale. A construction timeline for the project was not disclosed.

December 12, 2023

The-Delford-at-Village-Center-Rochelle-Park-New-Jersey

Development Multifamily New Jersey Northeast

Tulfra Real Estate Begins Leasing 160-Unit Apartment Complex in Rochelle Park, New Jersey

by Taylor Williams December 12, 2023

ROCHELLE PARK, N.J. — Locally based developer Tulfra Real Estate has begun leasing The Delford at Village Center, a 160-unit apartment complex in the Northern New Jersey community of Rochelle Park. The site is adjacent to Westfield Garden State Plaza Mall. The six-story building houses one- and two-bedroom units and amenities such as a pool, fitness center, coworking lounge and outdoor grilling and dining areas. Full completion is slated for March. Rents start at $2,400 per month for a one-bedroom apartment.

December 12, 2023

Development Georgia Mixed-Use Multifamily Office Retail Southeast

PMG, Greybrook Complete Vertical Construction of 31-Story Mixed-Use Tower in Atlanta

by John Nelson December 11, 2023

ATLANTA — Developers PMG and Greybrook have completed the vertical construction of Society Atlanta, a 31-story mixed-use tower situated at 811 Peachtree St. NE in the Midtown district of Atlanta. Upon completion, the development will feature 460 apartments, 87,000 square feet of office space and 14,500 square feet of ground-floor retail space. Amenities at the property will include a sky pool deck, coworking lab, fitness studio, entertainment lounges, yoga lawn and smart package lockers. Juneau Construction Co. is the general contractor for the project, which is scheduled for completion in fall 2024. Cooper Carry is the architect. Cushman & Wakefield and Bridger Properties will handle leasing for the office and retail spaces, respectively. PMG launched the Society Living multifamily brand, which includes more than 8,500 planned units, in 2019.

December 11, 2023

Development Georgia Industrial Leasing Activity Southeast

Automotive Parts Supplier Signs 136,000 SF Lease at 2,600-Acre Logistics Park in Savannah

by John Nelson December 11, 2023

SAVANNAH, GA. — Automotive parts supplier Kyungshin America Corp. (KAC) has signed a 136,000-square-foot lease at Savannah Gateway Industrial Hub (SGIH) in Georgia. Scheduled to open in February 2024, the facility will import and distribute automotive components to Hyundai Motor Group’s new, $7.5 billion electric vehicle plant underway near Port of Savannah and throughout the Southeast. SGIH, which comprises a total 2,600 acres, is a public-private partnership between the Effingham County Industrial Development Authority (ECIDA) and Broe Real Estate Group, the real estate affiliate of The Broe Group.

December 11, 2023

Development District of Columbia Leasing Activity Mixed-Use Retail Southeast

State of Play, Brookfield Properties to Open 8,546 SF Flight Club Darts Entertainment Venue in D.C.

by John Nelson December 11, 2023

WASHINGTON, D.C. — “Eatertainment” operator State of Play plans to open an 8,546-square-foot Flight Club darts venue in Washington, D.C. Scheduled to open summer 2024 and marking the 13th location for the brand, Flight Club D.C. will be situated at 641 New York Ave. NW within 655 New York, a 756,000-square-foot mixed-use development by Brookfield Properties. Other tenants at 655 New York, which features 79,000 square feet of retail space, include Rumi’s Kitchen, Capital Burger, Pearl’s Bagels, Kinship, Metier and Compass Coffee.

December 11, 2023

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