Development

StorSafe to Expand Self-Storage Facility in Michigan City, Indiana

by Kristin Harlow October 10, 2023

MICHIGAN CITY, IND. — StorSafe is expanding its self-storage facility in Michigan City by 10,665 square feet with an additional 82 climate-controlled units. The project also includes a new onsite water management system to collect and clean stormwater coupled with a loading dock for semi-trucks and moving vans. After the expansion, the facility will include 384 climate-controlled units. The property is located at 2600 S. Franklin St. in Northwest Indiana. StorSafe, established in 2021, offers mobile technology, advanced management software, online tools, facility automation and state-of-the-art security equipment.

October 10, 2023

Development Illinois Industrial Midwest

Principle Construction to Build 22,245 SF Maintenance Facility for Alvil Trucking in Elgin, Illinois

by Kristin Harlow October 10, 2023

ELGIN, ILL. — Principle Construction Corp. is building a 22,245-square-foot warehouse for Alvil Trucking in Elgin. The trucking company will use the building at 2450 Millennium Drive for maintenance and repairs of its fleet. The project will feature a clear height of 24 feet, 48 parking spaces, six docks and two drive-in doors. Harris Architects is the project architect, and Jacob & Hefner is the civil engineer. The project marks the second building that Principle has constructed for Alvil.

October 10, 2023

Development Industrial North Carolina Southeast Top Stories

Summit Real Estate Group Breaks Ground on $164M Industrial Park in Youngsville, North Carolina

by John Nelson October 10, 2023

YOUNGSVILLE, N.C. — Summit Real Estate Group has broken ground on US-1 North Commerce Center, a $164 million industrial park underway in Youngsville, about 25 miles north of Raleigh. The St. Louis-based developer is planning to build the nearly 1.4 million-square-foot campus in three phases. Situated off U.S. Highway 1 along Long Mill Road, US-1 North Commerce Center will span five multi-tenant warehouse buildings upon full build-out. Phase I, which will comprise two facilities, is expected to be delivered in first-quarter 2024. Summit Real Estate Group purchased the 106-acre site in fourth-quarter 2022 on behalf of its Arrowrock US Industrial Fund IV. Matthew Lederman, managing director of capital and investor relations at Summit, says that the project has had strong civic support since its inception. “Franklin County government has been a strong supporter of the project since the beginning,” says Lederman. Foundry Commercial is marketing US-1 North Commerce Center for lease. — John Nelson

October 10, 2023

Development Industrial Kentucky Southeast

Toyota Supplier Underway on $225M Manufacturing Facility in Hopkinsville, Kentucky

by John Nelson October 9, 2023

HOPKINSVILLE, KY. — Toyota Boshoku America, a Toyota supplier based in Erlanger, Ky., will invest $225 million in the development of a new automotive parts manufacturing facility in Hopkinsville, a city in southwest Kentucky. Upon completion, the 327,000-square-foot property will be situated on 48 acres within the South Park Development. Construction began in June, and operations are scheduled to begin at the facility in 2025. The project is expected to create 157 jobs. Additionally, Toyota Motor North America announced last week that it has entered into a $3 billion partnership agreement with LG Energy Solution for lithium-ion battery modules to be used in Toyota battery electric vehicles (BEVs). Under terms of the arrangement, the modules will be produced by LG at its Michigan facility and will support Toyota’s expanding line of BEVs, including a new model that will be assembled at the Toyota Manufacturing Kentucky plant in Georgetown, Ky., in 2025.

October 9, 2023

Development District of Columbia Office Southeast

Rockrose Development Nears Completion of 245,000 SF Office Renovation in D.C.

by John Nelson October 9, 2023

WASHINGTON, D.C. — Rockrose Development will complete the 245,000-square-foot renovation of three office properties located in Washington, D.C., this fall. Located within the Dupont Circle neighborhood, the project includes buildings located at 1900 M St. Northwest, 1146 19th St. and 1140 19th St. Together, the renovated properties will comprise “The Row on 19th.” John Skolnik and Michael Katcher of Cushman & Wakefield are exclusively leasing the project on behalf of Rockrose.

October 9, 2023

Development Multifamily Texas

Resia Begins Leasing 336-Unit Apartment Community in West Dallas

by Taylor Williams October 9, 2023

DALLAS — Miami-based developer Resia, formerly known as AHS Residential, has begun leasing a 336-unit, garden-style apartment community in West Dallas. Resia Dallas West features one-, two- and three-bedroom units, including 17 affordable housing residences, across eight three-story buildings. All units feature private balconies or patios. Amenities include a pool, fitness center and a business center. Fifth Third Bank and Pealmark provided construction financing for the project. Rents start at $1,280 per month for a one-bedroom unit.

October 9, 2023

Development Loans Multifamily New York Northeast

TD Bank Provides $72.5M Construction Loan for Brooklyn Multifamily Project

by Taylor Williams October 9, 2023

NEW YORK CITY — TD Bank has provided a $72.5 million construction loan for a 133-unit multifamily project in the Gowanus area of Brooklyn. The property at 544 Carroll St. will be a 17-story building that will feature an average unit size of 973 square feet and amenities such as a rooftop lounge, fitness center and event space. A quarter of the units will be earmarked as affordable housing. Christopher Peck and Peter Rotchford of JLL arranged the loan on behalf of the borrower, a joint venture between Avery Hall, Declaration Partners and Bridge Investment Group. Delivery is slated for late 2025.

October 9, 2023

Acquisitions Development Indiana Industrial Midwest Retail

ICP Acquires Concord Mall in Elkhart, Indiana, Plans Redevelopment

by Kristin Harlow October 9, 2023

ELKHART, IND. — Industrial Commercial Properties (ICP) has acquired Concord Mall in Elkhart, about 15 miles east of South Bend. ICP plans to redevelop the 600,000-square-foot shopping mall and adjacent outparcels into a mixed-use business park. Concord Mall was originally built in 1972 and has been suffering vacancies in recent years. Early this year, JC Penney unveiled plans to close its store at the mall, leaving Hobby Lobby as the sole anchor tenant. Hobby Lobby will continue to operate at the location. A timeline for construction was not provided.

October 9, 2023

Development Illinois Midwest Multifamily

Bradford Allen Proposes 300-Unit Apartment Development in Arlington Heights, Illinois

by Kristin Harlow October 9, 2023

ARLINGTON HEIGHTS, ILL. — The development arm of Bradford Allen has submitted plans for a 300-unit apartment development in the Chicago suburb of Arlington Heights. The eight-story project will feature 25,000 square feet of ground-floor retail space. Approximately 30 of the units will be designated as affordable housing. Bradford Allen submitted plans to village officials in a joint venture with Moceri+Roszak, which is also the architect. Plans call for 17,500 square feet of indoor and outdoor amenity spaces, including an outdoor pool, sun deck, fitness area, media rooms, business center, library, work-from-home conference rooms, golf simulator, dog walk and pickleball court. There will also be indoor parking for 484 vehicles and 86 outdoor parking spaces for the retail component. The proposed project is adjacent to the former Daily Herald building, which Bradford Allen is converting into a 150,000-square-foot medical office complex known as ArlingtonMed. Together, the buildings are part of a potential 16-acre, master-planned community that includes additional apartment buildings and retail space.

October 9, 2023

Build-to-Rent Development Georgia Multifamily Single-Family Rental Southeast

JCCG Begins Construction on 244-Unit Build-to-Rent Residential Development in Fort Oglethorpe, Georgia

by John Nelson October 6, 2023

FORT OGLETHORPE, GA. — General contractor Jim Chapman Construction Group (JCCG) has started construction on The Cottages at Battlefield Crossing, a 244-unit build-to-rent (BTR) townhome project located at the intersection of Dietz Road and Battlefield Parkway in Fort Oglethorpe. Situated on 41 acres about nine miles south of Chattanooga, Tenn., the property will feature homes in five floorplans totaling 1,020 to 1,466 square feet. Amenities at the community will include a 4,000-square-foot clubhouse, swimming pool, fitness center and 24-hour emergency maintenance services. The developer and construction timeline were not disclosed.

October 6, 2023

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