Development

Partnership to Develop 3 MSF Industrial Park on Florida’s Space Coast

by John Nelson December 5, 2023

TITUSVILLE, FLA. — A partnership between Houston-based Hines and locally based Key Group has announced plans to develop Space Coast Innovation Park, a 3 million-square-foot industrial development in the Space Coast city of Titusville. Located in Brevard County, the three-phase development will be situated on 450 acres near Space Coast Regional Airport’s Exploration Spaceport and within a few miles of NASA’s Kennedy Space Center. Nearby space exploration and aerospace defense firms include SpaceX, Blue Origin, Boeing, Northrop Grumman and Lockheed Martin. This past summer, Amazon announced it is developing a $120 million satellite processing facility in nearby Cape Canaveral, Fla. Additionally, the U.S. Air Force recently selected Patrick Space Force Base as its preferred headquarters location for the U.S. Space Force’s Space Training and Readiness Command operations. “As the rapid commercialization and privatization of the aerospace industry continues, with the space economy expected to generate more than $1 trillion in annual sales by 2040, we believe now is the perfect time to create a best-in-class logistics hub for aerospace companies requiring more direct access to Kennedy Space Center and Cape Canaveral than properties located further south can offer,” says Ryan Wood, managing director at Hines. “We look forward to partnering …

December 5, 2023

Alabama Development Multifamily Southeast

Dobbins Group to Develop Two Apartment Communities in Birmingham Totaling 785 Units

by John Nelson December 4, 2023

BIRMINGHAM, ALA. — Dobbins Group will develop two apartment communities in Birmingham. The first community, Colina West Homewood, will comprise 310 units in one-, two- and three-bedroom floorplans at 80 West Oxmoor Road. Amenities at the property will include package lockers, grilling stations and outdoor kitchens, hiking trails, a fitness center, swimming pool, coworking space, car wash, lawn game area, central green space, dog spa and park, clubhouse with resident lounge and attached and detached garages. The property will also feature a Grab & Go Market. The second property, Colina Hillside, will total 475 apartments in one-, two- and three-bedroom layouts across four- and five-story buildings. Amenities at the property, which will be located at 1121 Colina St., will include two heated saltwater pools, private pool cabanas and an outdoor kitchen entertainment area, 24-hour fitness center, a pet spa and pet parks, greenspace, firepits, grilling stations, electric car charging stations, valet trash service, a 24-hour resident market and lounge and coworking spaces. Protective Life provided financing. LBYD will serve as civil engineer for both developments, with Lorberbaum McNair providing landscape architecture and Catori Design House overseeing interior design. Forestry Environmental is the sitework contractor, and Capstone Building Corp. will provide …

December 4, 2023

Development Florida Southeast Student Housing

CBRE Investment, GMH to Begin Renovations at 734-Bed Student Housing Community Near University of South Florida

by John Nelson December 4, 2023

TAMPA, FLA. — A joint venture between CBRE Investment Management and GMH Communities has announced plans to begin renovations at Venue at North Campus, a 734-bed student housing community located near the University of South Florida in Tampa. The duo purchased the property in October. Dallas-based Premier will spearhead the renovations, which are expected to begin early next year. Enhancements to the property will include the addition of new appliances, countertops, cabinets, furniture, paint and fixtures; refreshments to the pool area; the addition of a jumbotron; updates to the community’s dog park; and the integration of a dedicated space for food truck dining near the property’s convenience store. The community offers a mix of studio, two-, four- and five-bedroom units. Shared amenities include a resort-style swimming pool, fitness centers, grilling stations under a pergola, individual and group study areas and an internet cafe.

December 4, 2023

Development Industrial Texas

DrinkPAK Signs Two Industrial Lease Expansions Totaling 2.9 MSF in Fort Worth

by Taylor Williams December 4, 2023

FORT WORTH, TEXAS — California-based canned beverage manufacturer DrinkPAK has signed two industrial leases in Fort Worth representing 2.9 million square feet of expansion, moves that are expected to bring about 1,000 new full-time to the area by 2026. The space at Trammell Crow’s development at 25001 Eagle Parkway spans 1.5 million square feet. The deal at Carter Park East, which is owned by Crow Holdings Capital, Rob Riner Cos. and Clarion Partners, is for 1.4 million square feet. Patrick DuRoss, John DeGrinis, Jeff Abraham, Javier Galvan, Adam Faulk, James Cooksey, Garrison Efird and Adam Faulk Jr. of Newmark represented DrinkPAK in the lease negotiations. The City of Fort Worth has approved a 10-year tax abatement valued at $21 million for DrinkPAK’s expansion in support of the area’s long-term development.

December 4, 2023

Development Multifamily Texas

Wood Partners Opens 330-Unit Alta Cypress Springs Apartments in Metro Houston

by Taylor Williams December 4, 2023

CYPRESS, TEXAS — Atlanta-based multifamily developer Wood Partners has opened Alta Cypress Springs, a 330-unit project located on the northwestern outskirts of Houston. Alta Cypress Springs features one-, two- and three-bedroom apartments that are furnished with stainless steel appliances, granite countertops, tile backsplashes and full-size washers and dryers. Amenities include a pool, fitness center, dog park, business center, clubroom and an outdoor kitchen. Texas-based Design Balance served as the project architect. Rents start at roughly $1,300 per month for a one-bedroom apartment, according to the property website.

December 4, 2023

California Development Industrial Western

Ware Malcomb Completes 92,000 SF Build-to-Suit Industrial Building for Mainline Sales in Sacramento

by Amy Works December 4, 2023

SACRAMENTO, CALIF. — Ware Malcomb has completed construction a build-to-suit industrial warehouse located at 3755 Pell Circle in Sacramento. The company provided civil engineering, architecture and interior design services for the 92,000-square-foot building, which Mainline Sales owns. Mainline Sales is a full-service manufacturer’s representative serving the states of California, Nevada, Arizona and Hawaii. The single-story, concrete tilt-up facility features a hybrid panelized roof, warehouse and distribution spaces. Additionally, the building can accommodate two 3,600-square-foot office spaces. KPRS Construction Services provided general contracting services for the project.

December 4, 2023

Data Centers Development Illinois Industrial Midwest

Meta Opens 1 MSF Data Center at ChicagoWest Business Center in DeKalb, Illinois

by Kristin Harlow December 4, 2023

DEKALB, ILL. — Meta, parent company of Facebook, has opened a new 1 million-square-foot data center at ChicagoWest Business Center in DeKalb, about 64 miles west of Chicago. The Meta property is adjacent to one of the recently announced Illinois MegaSites Investment Program projects. This site makes approximately 793 acres of additional land available at ChicagoWest Business Center that is ready for the next phase of development. ChicagoWest Business Center is home to other tenants such as Amazon, Ferrara and Kraft Heinz. Krusinski Construction Co. served as general contractor.

December 4, 2023

Development Loans Multifamily New Jersey Northeast Top Stories

Tishman Speyer Receives $300M Construction Loan for 58-Story Apartment Tower in Jersey City

by Taylor Williams December 4, 2023

JERSEY CITY, N.J. — New York City-based developer Tishman Speyer has received a $300 million construction loan from Otera Capital for a 58-story multifamily tower in Jersey City. With financing in place, Tishman Speyer plans to begin construction later this month and deliver the building in early 2027. The property will be located at 55 Hudson St. along the Hudson River in the Paulus Hook neighborhood, less than a block from the Paulus Hook Pier, which offers ferry service to various New York City metro locations. Plans call for 1,017 units in one-, two- and three-bedroom floor plans. The building will also feature 75,000 square feet of indoor and outdoor amenities and 60,000 square feet of retail and restaurant space. The development of 55 Hudson will be followed by 50 Hudson, a 48-story apartment tower that will include comparable indoor and outdoor amenities. When completed, the two-building development will boast nearly 2,000 new apartments, over 70,000 square feet of retail space and a 32,000-square-foot waterfront plaza. The plaza, which will provide a direct connection to Jersey City’s esplanade, will be available for community events. The design team for the project includes Handel Architects, Marchetto Higgins Stieve Architects, landscape architects Hollander Design …

December 4, 2023

Development Mixed-Use Texas

Presidium to Undertake 28-Acre Mixed-Use Redevelopment Project in McKinney, Texas

by Taylor Williams December 1, 2023

MCKINNEY, TEXAS — Texas-based developer Presidium will undertake a redevelopment project in McKinney, a northern suburb of Dallas, that will convert the 28-acre site of a former cotton mill and textile manufacturing facility that was built in 1910 into a mixed-unit development. Plans for Presidium Cotton Mill include approximately 1,200 multifamily units that will be housed across four buildings ranging in height from five to seven stories. The project will also feature 200,000 square feet of office space, as well as retail and restaurant space, open green space and a boutique hotel. Residential amenities will include pools, outdoor grilling and dining stations, fitness centers, coworking spaces, game rooms and lounge areas. The development team is aiming to break ground in mid-2024 and expects the entire project to take about six years to fully complete.

December 1, 2023

Development Industrial Self-Storage Texas

NitNeil, Seamless Capital to Develop 923-Unit Self-Storage Facility in East Austin

by Taylor Williams December 1, 2023

AUSTIN, TEXAS — A partnership between Atlanta-based developer NitNeil Partners and locally based investment firm Seamless Capital will develop a 923-unit self-storage facility in East Austin. The existing structure on the 1.5-acre site at 853 Airport Blvd. will be redeveloped into a facility that spans 112,000 gross square feet and 83,000 net rentable square feet of climate-controlled space. LifeStorage will operate the property. Completion is slated for late 2024.

December 1, 2023

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