Development

Stiles, Shorenstein Properties Top Out 110 East Office Tower in Charlotte’s South End

by John Nelson August 30, 2023

CHARLOTTE, N.C. — Stiles and Shorenstein Properties have topped out 110 East, a 23-story office tower located at 110 East Blvd. in Charlotte’s South End district. The Class A, 370,000-square-foot tower will be situated atop the LYNX Blue Line platform and provide direct access to the Charlotte Rail Trail. The co-developers expect to deliver 110 East in March 2024. The design-build team, which includes Nashville-based Hastings Architecture and general contractor Shelco LLC, have achieved LEED Gold and WiredScore Platinum certifications. The property will feature a 900-space parking garage, fitness center, flexible conference spaces, 5,800 square feet of commercial space on the rail platform. Jessica Brown and David Dorsch of Cushman & Wakefield are handling the office leasing assignment at 110 East, and Adam Williams of Legacy Real Estate Advisors is handling retail leasing.

August 30, 2023

Development Industrial Texas

Baltisse, Ackerman Complete 307,000 SF Industrial Project Near San Antonio

by Taylor Williams August 30, 2023

SCHERTZ, TEXAS — Atlanta-based developer Ackerman & Co., in partnership with Baltisse US Inc., has completed Doerr Lane Logistics Center, a 307,000-square-foot industrial project in Schertz, a northeastern suburb of San Antonio. The Class A, tilt-wall distribution center features 32-foot clear heights, 78 overhead dock doors, an ESFR sprinkler system and parking for 318 automobiles and 96 trailers. Beaty Palmer Architects designed the project, and Kopplow Construction served as the general contractor. Partners Real Estate is the leasing agent.

August 30, 2023

Development Industrial Northeast Pennsylvania

Portman Acquires 169 Acres in West Philadelphia to Develop 1.9 MSF Industrial Park

by Taylor Williams August 30, 2023

PHILADELPHIA — Atlanta-based developer Portman has acquired 169 acres in West Philadelphia for the construction of I-76 Trade Center, an industrial park that will ultimately total approximately 1.9 million square feet. To be developed in two phases, I-76 Trade Center will be a three-building campus, with vertical construction of Phase I scheduled to begin in the fall. Phase I will feature a 636,120-square-foot building that is slated for an August 2024 delivery. Phase II will include a 1.1 million square-foot-facility and a 154,440-square-foot building. Portman expects to have substantially completed the project by the first quarter of 2025.

August 30, 2023

Development Massachusetts Multifamily Northeast

Nauset Construction Underway on 38-Unit Multifamily Project in Cambridge

by Taylor Williams August 30, 2023

CAMBRIDGE, MASS. — Nauset Construction is underway on a 38-unit multifamily project in Cambridge. The project is a three-story vertical addition to the Crimson Galeria building in Harvard Square. The owner of the building, Crimson Galeria LP, originally planned to construct office space atop the existing structure but pivoted to residential during the pandemic, receiving a special permit from the city in the process. NELSON Worldwide is the architect for the project, which will feature studio, one- and two-bedroom apartments, with roughly 20 percent of the residences designated as affordable. Ownership recently added two new tenants to the roster of retailers, which includes Shake Shack, Maharaja, Veggie Grill, Menya Jiro and Core Power Yoga. Delivery is slated for late 2025.

August 30, 2023

Development Illinois Industrial Midwest

Meridian Design Build Completes 392,973 SF Spec Industrial Project for Logistics Property Co. in Aurora, Illinois

by Kristin Harlow August 30, 2023

AURORA, ILL. — Meridian Design Build has completed construction of a 392,973-square-foot speculative industrial project on behalf of developer Logistics Property Co. in Aurora. The building features a clear height of 36 feet, 56 loading docks, two drive-in doors, 403 auto parking stalls and 26 exterior trailer parking stalls. An undisclosed tenant leased the entire building prior to completion. NAI Hiffman marketed the building for lease. The project team included Partners in Design Architects and civil engineer Webster McGrath & Ahlberg.

August 30, 2023

Colorado Development Multifamily Seniors Housing Western

Realty Capital Partners Invests $11.7M in Active Adult Development in Basalt, Colorado

by Amy Works August 30, 2023

BASALT, COLO. — Realty Capital Partners, a Dallas-based equity investor, has invested $11.7 million in the development of 72 residential rental units tailored for active adults (age 55 and over) in Basalt. Developer Realty Capital Residential has acquired the land and secured all necessary entitlements, permits and approved plans. The project will encompass a modern living concept and 2,600 square feet of ground-floor restaurant space. Groundbreaking is set for this month, with completion slated for August 2025. The community will feature one- and two-bedroom floor plans ranging from 675 square feet to 1,322 square feet.

August 30, 2023

Development Industrial Texas

Tradition Holdings Breaks Ground on 343,371 SF Industrial Project in Belton, Texas

by Taylor Williams August 29, 2023

BELTON, TEXAS — Dallas-based developer Tradition Holdings has broken ground on 14/35 Belton Crossing, a 343,371-square-foot industrial project in Belton, located outside of Temple in Central Texas. The development will consist of four buildings ranging in size from 70,000 to 115,000 square feet on a 27.5-acre site. Building features will include 32- to 36-foot clear heights, 180-foot truck court depths and parking for 74 trailers and roughly 400 cars. KBC Advisors will market the project for lease. Powers Brown Architecture is designing the project, and ARCO/Murray is the general contractor. Completion is slated for the second quarter of 2024.

August 29, 2023

Development Retail Texas

Foremark Development Nears Completion of 28,000 SF Retail Project in Sachse, Texas

by Taylor Williams August 29, 2023

SACHSE, TEXAS — Locally based firm Foremark Development is nearing full completion of The Shops at Sachse, a 28,000-square-foot retail project located on the eastern outskirts of Dallas. The center’s two multi-tenant buildings totaling roughly 18,000 square feet are now complete, and construction of a 10,000-square-foot build-to-suit for The Learning Center is underway and slated for a mid-2024 delivery. Other tenants include Starbucks, Jake’s Burgers & Beer and Tropical Smoothie Café.

August 29, 2023

Development Georgia Multifamily Southeast

Greystar Begins Leasing 33-Story Nomia Apartment Tower in Midtown Atlanta

by John Nelson August 29, 2023

ATLANTA — Greystar has begun leasing the first available units at Nomia, a 33-story high-rise apartment tower that will be located at 17th and Peachtree streets in Midtown Atlanta. The Charleston-based developer plans to officially open the 281-unit property this fall. Nomia will feature one-, two- and three-bedroom apartments, as well as penthouses with large floor-to-ceiling windows. Amenities will include a rooftop pool and terrace, spa, TULU luxury vending service, a fitness center and structured parking with electric vehicle charging stations, as well as street-level retail space. Nearby attractions include the High Museum, Museum of Design Atlanta (MODA) and Woodruff Arts Center, and global employers including NCR, PwC, Coca-Cola, Google, Norfolk Southern and AT&T have regional campuses in close proximity to Nomia.

August 29, 2023

Development Loans Multifamily Southeast Virginia

Capital Square to Raise $63.3M in Equity, Closes Construction Debt for Richmond Apartment Project

by John Nelson August 29, 2023

RICHMOND, VA. — Capital Square has announced plans to raise $63.3 million in equity from accredited investors through its CSRA Opportunity Zone Fund VII LLC for the development of a 352-unit multifamily development in Richmond. The developer has also closed a construction loan for an undisclosed amount through United Bank. Walker & Dunlop arranged the financing. Capital Square broke ground on the unnamed community in April and expects to deliver the property in summer 2025. Located at 2929 W. Clay St. and 2922 & 2925 W. Marshall St. in Richmond’s Scott’s Addition neighborhood, the community will comprise three adjoining buildings situated atop podium parking and retail space. Planned amenities will include courtyards, a zero-edge pool, gym, clubhouse, dog park and a sky lounge.

August 29, 2023

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