PHILADELPHIA — Cushman & Wakefield has arranged undisclosed amounts of construction financing and joint venture equity for a 40,000-square-foot industrial project in Philadelphia that is a build-to-suit for Stateside Vodka. The facility will be located within Crown 95 Logistics Center, a 381,200-square-foot development on the city’s northeast side, and will feature a clear height of 28 feet and seven loading docks. John Alascio, Aaron Graves, Chuck Kohaut, T.J. Sullivan, Mitch Rothstein and Claire Oster of Cushman & Wakefield arranged the debt through Univest and the equity from Tramview Capital Management. The borrower/developer was not disclosed.
PARK CITY, UTAH — Crandall Capital is set to break ground on Studio Crossing, a mixed-use development in Park City, in late October. Spanning 320,000 square feet, Studio Crossing will feature 208 affordable housing units, approximately 100 townhomes and condominiums, retail, dining and open-air public spaces. With the first phase of the development slated for completion in 2025, Studio Crossing will add an entirely new neighborhood to Park City, while also providing eco-conscious solutions throughout its buildout. At full build out, the project will include: The project team includes Steed Construction as general contractor and Modern Out West as lead architect.
SAN RAMON, CALIF. — Belmont Village Senior Living has completed vertical construction of Belmont Village San Ramon, its fifth seniors housing community in the Bay Area. The property is located within the Bishop Ranch master-planned community, which includes retail, dining and entertainment. Harrison Street Real Estate is the development partner, with Synovus Bank and Cadence Bank providing debt. Belmont Village San Ramon is a six-story, 175,320 square-foot senior living community that is scheduled to open in late 2024. With views of Mount Diablo and surrounding hills, Belmont Village San Ramon offers independent living, assisted living and memory care across 177 units in a variety of studio, one-bedroom and two-bedroom layouts.
THE WOODLANDS, TEXAS — Marquette Cos., an Illinois-based developer, has broken ground on The Sylvan, a 300-unit residential project located about 30 miles north of Houston in The Woodlands. The Sylvan will consist of 188 single-family rentals and townhouses and 112 apartments. Single-family homes will feature three- and four-bedroom floor plans, range in size from 1,495 to 1,805 square feet and include private yards and garages. Ranging from 1,456 to 1,581 square feet, townhomes will have two- and three-bedroom floor plans with attached garages and private outdoor space. Apartments will come in one-, two- and three-bedroom formats and range from 650 to 1,574 square feet. Amenities will include a clubhouse, pool, fitness center and walking paths. Completion is slated for August 2025.
BURLESON, TEXAS — A partnership between Provident Realty Advisors and Trez Capital has acquired 22 acres in Burleson, a southern suburb of Fort Worth, for the development of a 196-site RV park. The development will be known as Roaming Trails RV Retreat (RTRV) Burleson and will offer multi-vehicle parking at every pad, back-in and pull-through spots, private fenced yards and weatherproof covers. Communal amenities will include a pool, package lockers and a dog park. Construction is scheduled to begin before the end of the year.
VALDOSTA, GA. — Walmart has announced plans to invest $350 million in the development of a new dairy processing facility in Valdosta. Located on Inner Perimeter Road, the facility will provide milk to more than 750 Walmart stores and Sam’s Clubs in Georgia and neighboring states. The project is expected to create almost 400 new jobs. Operations are scheduled to begin in late 2025. Further details of the property and construction timeline were not disclosed.
DURHAM, N.C. — AvalonBay Communities has purchased 6.8 acres in Durham for the development of a 930-unit apartment development. Located at 4802 Durham-Chapel Hill Blvd., the first phase will comprise 459 units in studio, one-, two- and three-bedroom floorplans across three four-story buildings. Amenities at the property will include a swimming pool, outdoor grilling areas, an indoor-outdoor fitness center and several courtyards. Construction is scheduled to begin in 2024, with the opening expected for 2026. CBRE represented the seller, Beacon Properties Group, in the transaction.
HAGERSTOWN, MD. — Binswanger has arranged a lease at a 2.1 million-square-foot distribution facility currently underway in Hagerstown in northwest Maryland. Binswanger secured the 10-year lease on behalf of the tenant, Conair, a developer, manufacturer and marketer of health, beauty and kitchen products. Trammell Crow Co. is developing the property within its Mid-Atlantic Crossings industrial park. Originally planned as two separate facilities at 10440 Downsville Pike and 17250 Sterling Road, the warehouse will now be developed and operated as a single, contiguous building.
FORT MYERS, FLA. — Glenstar Logistics has signed leases with two new tenants at Tri-County 75, an industrial park currently underway at 6115-6150 Tri-County Commerce Way in Fort Myers. Glenstar is developing the 816,866-square-foot project in partnership with Columnar Holdings. Coldest, a Florida-based water bottle manufacturer, has signed a lease at the development for 52,866 square feet of warehouse and office space. Additionally, an unnamed third-party logistics provider (3PL) has signed a 22,784-square-foot lease at the property’s Building 4. General contractor The Conlan Co. will build out 1,400 and 1,100 square feet of office space for Coldest and the 3PL tenant, respectively. Lee & Associates, which is overseeing leasing at the development, represented Glenstar in the lease negotiations. Jeff Buckler of Lee & Associates represented Coldest, and Shawn Stoneburner of Cushman & Wakefield represented the 3PL. Ware Malcomb is the project architect for Tri-County 75, and DeLisi Fitzgerald is serving as the civil engineer. Affinius Capital is providing construction financing for the development.
OVERLAND PARK, KAN. — Ryan Cos. has broken ground on The OsLo, a 413-unit luxury apartment complex in the Kansas City suburb of Overland Park. The four-story project will be situated at the intersection of 135th Street and Antioch Road. Completion is slated for late 2025. The OsLo is being built in partnership with operating partner EPC Real Estate Group. Smart technology will be fully integrated for residents, enabling them to use a smartphone app for accessing the building and individual units, controlling thermostats and receiving package delivery notifications. A focus on health and wellness will be incorporated into the property to align with the Scandinavian-themed architecture. There will be a spa, yoga studio, golf simulator and sound studio. Additionally, residents will have access to coworking areas, group gathering places, a pool, pond and dog park. Ryan is serving as the developer, builder and capital markets provider. NSPJ Architects is the architect, Olsson is the civil engineer, Lankford & Associates is the mechanical, electrical and plumbing engineer and Bob D. Campbell is the structural engineer. Security Bank provided construction financing.