Development

Street Realty to Develop 140,000 SF Industrial Project in White Settlement, Texas

by Taylor Williams October 4, 2023

WHITE SETTLEMENT, TEXAS — Locally based developer Street Realty will build West Loop Business Park, a 140,000-square-foot industrial project in White Settlement, a western suburb of Fort Worth. West Loop Business Park will comprise 14 shallow-bay buildings on a 12-acre site. Each building will span 9,900 square feet and can be subdivided for multiple tenants or marketed to a single tenant. Construction is scheduled to begin before the end of the year and wrap up in the third quarter of 2024. FirstBank Southwest provided construction financing for the deal.

October 4, 2023

Development Office Texas

KERA to Open New Headquarters Facility in Uptown Dallas, Partners with Kaizen Development

by Taylor Williams October 4, 2023

DALLAS — Public media organization KERA will open a new headquarters facility in Uptown Dallas. The site is adjacent to the Katy Trail, and the square footage has yet to be determined. KERA has also formed a partnership with Kaizen Development to construct the new facility, with construction scheduled to begin late next year. Kaizen also purchased 2.4 acres at the southern end of the site from KERA with plans to build a 400,000-square-foot office building and a residential tower of an undetermined size. Delivery of those projects, which will include 20,000 square feet of retail and restaurant space, is slated for 2027.

October 4, 2023

Development Massachusetts Mixed-Use Northeast

RISE Receives Approval for 750,000 SF Mixed-Use Project in Metro Boston

by Taylor Williams October 4, 2023

CHARLESTOWN, MASS. — Locally based developer RISE has received approval from the Boston Planning & Development Agency for a 750,000-square-foot mixed-use project that will be located in the Charlestown area on the city’s north side. Designed by CBT Architects, the project is known as 40 Roland Street and is part of the larger redevelopment of Sullivan Square. Full plans call for 126 residential units, 20 percent of which will be earmarked as affordable housing, as well as 605,300 square feet of office and life sciences space, 31,685 square feet of retail and restaurant space and 70,799 square feet of open green space. These uses will be housed across three buildings and five parcels. The development team, which also expects the project to add about 2,000 permanent jobs to the local economy, will make infrastructural improvements to roadways and landscaping as part of the project.

October 4, 2023

Acquisitions Development Hospitality Multifamily New York Northeast Student Housing

PX4 Development Buys Long Island Hotel for $15M, Plans Student Housing Conversion

by Taylor Williams October 4, 2023

JERICHO, N.Y. — PX4 Development has purchased an 80-room hotel in the Long Island community of Jericho with plans to convert the building into a student housing community with one-, two- and three-bedroom units. To that end, PX4 has secured a long-term lease with The New York Institute of Technology, which has campuses on both Manhattan and Long Island. The development team is aiming to have the building ready for occupancy in advance of the 2024 academic year.

October 4, 2023

Arizona Development Industrial Western

ViaWest, Willmeng Break Ground on 1.2 MSF First Phase of Industrial Campus in Glendale, Arizona

by Amy Works October 4, 2023

GLENDALE, ARIZ. — Phoenix-based ViaWest Group, as developer, and Willmeng Construction, as general contractor, have broken ground on The Base, Phase I. Located in Glendale, The Base will be a 144-acre industrial campus at full build out. The first phase will include seven buildings, spanning 1.2 million square feet. The buildings will range in size from 85,000 square feet to 309,000 square feet with divisibility down to approximately 20,000 square feet. The second phase is proposed to include eight buildings, totaling 780,600 square feet, and ranging in size from 41,000 square feet to 141,000 square feet. The buildings will feature heavy power, ESFR sprinkler systems, a combination of dock-high and grade-level loading, concrete truck courts, ample car parking, R-38 insulation and clear heights ranging from 28 feet to 36 feet. Completion of Phase I is slated for fourth-quarter 2024. DLR Group is serving as architect and Kimley-Horn as civil engineer for the project. CBRE will handle leasing for both phases. Will Strong, Kirk Kuller, Molly Hunt, John Alascio and TJ Sullivan of Cushman & Wakefield secured equity financing for the development. JLL Capital Markets arranged a $96.5 million construction loan for the project.

October 4, 2023

Arizona Development Multifamily Western

High Street Residential Completes 310-Unit Smith & Rio Apartment Community in Tempe, Arizona

by Amy Works October 4, 2023

TEMPE, ARIZ. — High Street Residential (HSR), the residential subsidiary of Trammell Cros Co., has completed construction on Smith & Rio, a multifamily property located at 1979 E. Rio Salado Parkway in downtown Tempe. The five-story property features 310 apartments in a mix of studio, one-, one-plus-den and two-bedroom layouts. Community amenities include a fifth-floor sky lounge; two outdoor courtyards; a dog park; pet lounge; work-from-home area with individual workspaces; pool; spa; fitness center; clubhouse with multiple lounges and seating areas; fireplace; and demonstration kitchen.

October 4, 2023

Development Midwest Minnesota Multifamily Seniors Housing

Kraus-Anderson Completes $91.8M Expansion of Friendship Village Senior Living Campus in Bloomington, Minnesota

by Kristin Harlow October 4, 2023

BLOOMINGTON, MINN. — Kraus-Anderson has completed a $91.8 million expansion of Friendship Village, a senior living campus located at 8100 Highwood Drive in the Minneapolis suburb of Bloomington. Lifespace Communities owns the property. Designed by SAS Architects and Planners, the 380,294-square-foot project adds a new five-story independent and assisted living building with 93 units. The expansion also includes a new three-story skilled nursing building and a three-story health center with a physical and occupational therapy gym and memory care suites. Services and amenities for assisted living and memory care include 24-hour nursing care, dedicated dining spaces, a fitness center, salon and activity rooms. Extended-stay offerings are three meals per day prepared restaurant-style, 24-hour nursing care, transportation services, a dietitian, social worker and physical, occupational and speech therapists. Rehabilitation services include chef-prepared meals, access to all Friendship Village amenities, physician and nursing care, a social worker, dietitian, salon and therapy services. Construction began in August 2019, and the new expanded spaces are slated to open in November.

October 4, 2023

Development Industrial Midwest Ohio

Red Rock Developments Underway on 946,400 SF Spec Industrial Building in Pataskala, Ohio

by Kristin Harlow October 4, 2023

PATASKALA, OHIO — Red Rock Developments is underway on a 946,400-square-foot speculative industrial building in Pataskala, about 19 miles east of Columbus. The project is situated on 83 acres at 7409 Mink St. within Red Chip Farms industrial park. Completion is slated for May 2024. The facility will feature a clear height of 40 feet, 156 dock doors, four drive-in doors, 210 trailer parking spaces, office space and 200-foot truck courts. Shane Woloshan of Colliers is leading leasing efforts for the new building as well as build-to-suit opportunities within Red Chip Farms.

October 4, 2023

Development Mixed-Use Texas Top Stories

Triten Real Estate Partners Completes Assembly Park Mall Redevelopment in Plano, Texas

by Kristin Harlow October 4, 2023

PLANO, TEXAS — Triten Real Estate Partners has completed the office and retail portions of Assembly Park, the redevelopment of Market Square Mall in Plano. Located along Central Expressway and Spring Creek Parkway, the project features 180,000 square feet of creative office space, 17,000 square feet of walkable retail and dining space, a park and hiking and biking trails. Additionally, Triten is set to complete The Annabel, Assembly Park’s multifamily development, in December. The Class A apartment community features one, two- and three-bedroom units with rentable garages and storage units. Amenities include a fitness center, dog grooming room, dog park, outdoor gaming areas, coworking spaces and secure bike storage. Triten purchased the 300,000-square-foot mall in 2021 with the goal of transforming the underutilized center into a mixed-use development. The mall was built in 1983 and originally named the Outlet Mall of Americas. “Assembly Park is a true work, live, play destination, positioned to appeal to a diverse range of community members,” says Scott Arnoldy, founder of Triten. Triten enlisted Michael Hsu Office of Architecture to design the office and retail portions of Assembly Park. The interior design of the creative office space pays homage to the existing structure’s history by …

October 4, 2023

Development Georgia Leasing Activity Mixed-Use Office Restaurant Retail Southeast

Portman Opens Junction Krog District Office Building in Atlanta

by John Nelson October 3, 2023

ATLANTA — Portman has opened Junction Krog District, a mixed-use building in Atlanta’s Inman Park neighborhood that features 135,000 square feet of Class A offices, private terraces and ground-level retail space. The development is situated across from the Krog Street Market food hall at the corner of Auburn Avenue and Irwin Street. The Atlanta-based developer has also signed Yuji, a Japanese dining concept by Kinjo Enterprise LLC, to join Junction Krog District’s retail mix on the ground level. Yuji, along with Italian dining concept YEPPA&co, will open in summer 2024. The Japanese restaurant will feature a walk-up window for to-go orders, two outdoor bars and a 1,670-square-foot patio connected to Junction Krog District’s 7,000-square-foot public porch, which is now open. The porch fronts the Atlanta BeltLine’s Eastside Trail. Adjacent to Junction Krog District, Portman recently purchased 1.3 acres where the firm will plan a second phase for the project.

October 3, 2023

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