Development

Waterton Launches Outbound Hotels Brand

by Kristin Harlow September 12, 2023

CHICAGO — Chicago-based real estate investor and operator Waterton has launched its new Outbound Hotels brand, a collection of hotels for travelers seeking outdoor-inspired experiences in boutique settings. The vision for Outbound Hotels began with Waterton’s acquisition of The Virginian Lodge in Jackson Hole, Wyo. Waterton acquired the property in partnership with Wyoming-based Orion Cos. and has since rebranded it as The Virginian Lodge, an Outbound Hotel. The Outbound portfolio, operated by Springboard Hospitality, was expanded in 2021 with the acquisition of Outbound Mammoth (formerly the Sierra Nevada Resort) in Mammoth, Calif., and Towne and Country Stowe in Stowe, Vt., in March 2023. Most recently, Waterton partnered with Argosy Real Estate Partners to for a redevelopment project on a 17-acre Qualified Opportunity Zone site in Oakhurst, Calif., just south of the main gate to Yosemite National Park. The property will be developed as Outbound Yosemite Resort, a 135-key hotel consisting of 108 vacation rental cabins and 14 hotel rooms located above a 12,500-square-foot clubhouse in addition to a 13-key boutique hotel currently on the site.

September 12, 2023

Development Indiana Midwest Multifamily

The Life Properties Underway on $9.9M Capital Improvement Program at Indianapolis Apartment Community

by Kristin Harlow September 12, 2023

INDIANAPOLIS — The Life Properties, the property management and construction management affiliate of Olive Tree Holdings, is underway on a $9.9 million capital improvement program at The Life at Wood Springs, a 608-unit apartment community in Indianapolis. The project is slated for completion in the first quarter of 2025. Upgrades include interior renovations to 417 of the residences; the implementation of new windows and paint; laundry center upgrades; resident clubhouse, onsite office and roofing repairs; and improvements to the dog park, playground and asphalt. There have also been necessary repairs made to the pool, delivering an amenity back to residents that had been unavailable for years under previous ownership. Upgrades also include several sustainable and security features, including the implementation of low-flow plumbing retrofits, LED lighting and a new security camera system. The property was originally built in 1973.

September 12, 2023

Development Nevada Restaurant Retail Western

Diversified Partners Completes Construction of Starbucks Location in Henderson, Nevada

by Amy Works September 12, 2023

HENDERSON, NEV. — Diversified Partners has completed the construction of a single-tenant building at 892 Sunset Road in Henderson. The project team includes Kitrell Jenson Contractors and RKAA Architects. Starbucks Coffee will occupy the 2,573-square-foot standalone building, which features a double drive-thru and 900-square-foot outdoor patio space. The building features the latest Starbucks prototype.

September 12, 2023

Development Industrial Texas Top Stories

Trina Solar to Open $200M Manufacturing Facility in Wilmer, Texas

by John Nelson September 12, 2023

WILMER, TEXAS — Trina Solar, a solar products manufacturer and solutions provider based in China, has announced plans to open a $200 million manufacturing facility in Wilmer, about 16 miles south of Dallas. Slated for completion in 2024, the plant will be located within Tradepoint 45 West, a 1.3 million-square-foot speculative development, and will be used for the production of photovoltaic (PV) Vertex modules as well as the sourcing of polysilicon, a key raw material in the production of solar PV products. The Wilmer plant will be Trina Solar’s first module factory in the Western hemisphere. “We have long had a vision to manufacture solar products in the United States, and we are proud of the jobs we are creating and the investment we are making in the Wilmer community,” says Steven Zhu, president of Trina Solar US. “Trina’s goal in building this facility is to begin to create an ecosystem of American manufacturing that can serve the burgeoning U.S. solar market.” “Trina will announce additional investments in American communities soon,” continues Zhu. “We are grateful to the State of Texas, Dallas County and the City of Wilmer for working with us on this exciting project.” At full capacity, the facility …

September 12, 2023

Development Florida Multifamily Southeast

McHugh, Stiles Top Off 39-Story NEMA Apartment Tower in Downtown Miami

by John Nelson September 11, 2023

MIAMI — McHugh Construction and Stiles Construction have topped off NEMA Miami, a 39-story luxury apartment tower underway at 2900 Biscayne Blvd. in downtown Miami. Crescent Heights is developing the project, which will comprise 588 apartments in studio, one-, two-and three-bedroom layouts, as well as ground-floor retail space, including a 42,030-square-foot Whole Foods Market store. Additionally, the development will feature a 748-spot parking garage, with 195 spots reserved for Whole Foods patrons. Designed by Arquitectonica, NEMA Miami’s amenities will include indoor and outdoor lounges, a swimming pool, sauna and steam rooms, event space and catering kitchen, private bar lounge and a fitness center. Rockwell Group is providing interior design services. The first move-ins are scheduled for next summer.

September 11, 2023

Development Office Texas

St. John Properties to Develop 120,000 SF Office Project in Leander, Texas

by Taylor Williams September 11, 2023

LEANDER, TEXAS — Baltimore-based St. John Properties will develop a 120,000-square-foot office project in the northern Austin suburb of Leander. The four-story building will be situated within the 116-acre Northline mixed-use development and will include 15,500 square feet of retail and restaurant space. Beck Design is the project architect, and Kimley-Horn is the civil engineer. Delivery is slated for the first half of 2025.

September 11, 2023

Development Illinois Industrial Midwest

Gotion to Build $2B Electric Vehicle Battery Gigafactory in Manteno, Illinois

by Kristin Harlow September 11, 2023

MANTENO, ILL. — Gotion has unveiled plans to build a $2 billion electric vehicle (EV) lithium battery manufacturing plant in Manteno, a southern suburb of Chicago located in Kankakee County. According to a press release from the state of Illinois, the company’s decision was bolstered by a Reimagining Energy and Vehicles (REV) Illinois incentive package and the new Invest in Illinois fund. The plant is expected to begin production in 2024. The facility will focus on lithium-ion battery cell, battery pack production and energy storage system integration. Gotion’s total incentive package from the state, which includes REV, Invest in Illinois and other incentives, is valued at $536 million. Through REV, Gotion is eligible to receive tax benefits totaling $213 million over 30 years. The REV agreement specifies a minimum company investment of $1.9 billion and the creation of 2,600 full-time jobs that are paid at least 120 percent of the average wage of similar job classifications in Kankakee County. Local authorities also approved Gotion for property tax abatement for 30 years. As part of the state’s commitment to build out comprehensive EV hubs and support Illinois’ workforce, the state will also fund a new manufacturing training academy nearby, as well …

September 11, 2023

Civic Development Midwest Minnesota

Kraus-Anderson Completes Phase II of $43M Renovation for Roseau Community Schools in Minnesota

by Kristin Harlow September 11, 2023

ROSEAU, MINN. — Kraus-Anderson has completed Phase II of an overall $43 million renovation for Roseau Community Schools in Roseau, a city in northern Minnesota. Kraus-Anderson began the 141,000-square-foot project in July 2020 following the approval of a bond referendum that voters passed by nearly 75 percent. Designed by JLG Architects, the project included the renovation and expansion of the K-12 school complex, consisting of 81,000 square feet of new construction and a 60,000-square-foot remodel. Phase I included two stories of new construction and extensive remodeling, including classroom spaces for English, language and social studies, along with site improvements. Phase II featured 16,416 square feet of new construction, remodeling and reconstruction. There are new spaces for educational programming and activities. The high school received new classrooms, including Career and Technology Education (CTE), a music suite for band and choir, administrative and common areas. The project also provides improved and enlarged gymnasium spaces to meet physical education, co-curricular and community programming needs. Kraus-Anderson also replaced aging building and major systems, including ventilation, heating, electrical, lighting, roofing, exterior walls and insulation.

September 11, 2023

Acquisitions California Development Industrial Western

Pacific Industrial Acquires Land for 215,000 SF Spec Development in City of Industry, California

by Amy Works September 11, 2023

CITY OF INDUSTRY, CALIF. — Pacific Industrial has purchased 10 acres of land at 17969 Railroad St. in City of Industry. The property was acquired via a short-term sale/leaseback. Additional terms of the transaction were not released. Upon lease expiration, Pacific Industrial plans to develop Pacific Railroad Center, a Class A, 215,000-square-foot industrial facility. The speculative for-lease development will offer electric vehicle charging stations, solar-ready roofs, excess car/trailer parking and a two-story signature glass-entry office. Pacific Industrial plans to break ground in 2024, with completion scheduled for 2025. Chris Bonney and Brad Gilmer of Lee & Associates will be exclusive leasing agents for the project.

September 11, 2023

Development Illinois Industrial Midwest

Standard Real Estate Invests in Trammell Crow’s Woodridge Industrial Center in Suburban Chicago

by Kristin Harlow September 11, 2023

WOODRIDGE, ILL. — Standard Real Estate Investments LP is making an equity investment through its new $150 million investment vehicle in the Woodridge Industrial Center, a 217,000-square-foot logistics facility being developed by Trammell Crow Co. in suburban Chicago. The project is located on a 17-acre site in Woodridge and is slated for completion in summer 2024. The building will feature 22 dock doors, 130-foot truck courts and 270 parking spaces. The project team includes Harris Architects, general contractor FCL and civil engineer SpaceCo.

September 11, 2023

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