Development

Joint Venture Plans 394-Unit Atlas Mesa Apartment Property in Mesa, Arizona

by Amy Works February 2, 2023

MESA, ARIZ. — A joint venture between PCCP and The Dinerstein Cos. has unveiled plans to develop Atlas Mesa, a Class A multifamily community in Mesa. The partnership plans to break ground on the property in late July, with initial occupancy slated for first-quarter 2025 and final completion scheduled for late 2025. Located at the northwest corner of East Baseline Road and South Sunview, Atlas Mesa will feature 394 studio, one-, two- and three-bedroom layouts, ranging from 562 square feet to 1,394 square feet. Situated on 9.8 acres, the 400,000-square-foot community will consist of four four-story buildings served by elevators and a leasing and amenity building. Community amenities will include an outdoor pool with spa, clubhouse and coworking space. Additionally, the property features smaller outdoor amenity spaces throughout the community.

February 2, 2023

Development Midwest Minnesota Multifamily

Kraus-Anderson Completes Construction of $66M Luxury Apartment Tower in Downtown Minneapolis

by Kristin Harlow February 2, 2023

MINNEAPOLIS — Kraus-Anderson has completed construction of Moment, a $66 million luxury apartment tower developed by Sherman Associates in downtown Minneapolis. Designed by ESG Architecture & Design, the 222-unit project is located at 650 Portland Ave. The second floor of the 10-story building is home to Firefighters for Healing and its Transitional Healing Center for injured fighters and burn survivors. The center provides 12 suites for families awaiting a patient receiving care at nearby Hennepin Healthcare Burn Unit, a regional center for burn treatment. It also accommodates discharged patients as they transition before returning home. Amenities at Moment include a pool, sauna, hot tub, sports simulator, work-from-home space, rooftop lounge and underground parking. Energy usage for Moment is offset by energy production from a solar garden in Carver County. The project also features nearly 15,000 square feet of commercial space with skyway access. A Starbucks store is expected to open this spring. Monthly rents start at $1,657, according to the property’s website. The name Moment is derived from the phrase “live in the moment.”

February 2, 2023

Development Industrial Midwest Ohio

Contegra Renovates 527,000 SF Warehouse for American Nitrile Near Columbus

by Kristin Harlow February 2, 2023

GROVE CITY, OHIO — Contegra Construction Co. has completed the renovation of a 527,000-square-foot warehouse in Grove City near Columbus for medical glove maker American Nitrile. The manufacturing facility will produce 4 billion medical research lab gloves annually. Contegra worked with engineering firm IMEG to fortify infrastructure that would support a highly complex automated manufacturing process with 12 production lines. The facility also includes 15,000 square feet of remodeled office and lab space. American Nitrile was founded in 2021 in response to the need for domestic sources of manufacturing of personal protective equipment (PPE) products.

February 2, 2023

California Development Hospitality Mixed-Use Restaurant Retail Top Stories Western

LRE & Cos., American Hospitality Services Unveil Plans for 11-Acre Mixed-Use Development in Roseville, California

by Jeff Shaw February 2, 2023

ROSEVILLE, CALIF. — LRE & Cos. and American Hospitality Services have unveiled full plans for Roseville Junction, a new mixed-use development in Roseville. The property will feature two hotels, three restaurants, an entertainment and sports complex and an outdoor gathering space. Roseville Junction will be built on an 11-acre site that is 20 miles northeast of Sacramento. The site is adjacent to Highway 65 near Interstate 80, and is located nearby many of the area’s vineyards and wineries, as well as new retail and shopping amenities such as the Roseville Galleria. A timeline for completion was not disclosed. The family- and pet-friendly outdoor gathering space will be called Social Connection and will offer guests a variety of food and beverage options, including craft brewery Fieldwork Brewing Co. The restaurants leases are currently under negotiation. The project’s entertainment and sports complex, The Electric Pickle, will include a bocce ball court and 10 pickleball courts. The Electric Pickle will also offer food options such as wood-fired pizzas, tacos, burgers and more. Guests will be able to place food and beverage orders through an app and have their food delivered by “food ambassadors” moving throughout the property. The two five-story, select-service hotels will be …

February 2, 2023

Development Loans Multifamily Texas

Anthem Development Receives $63M in Financing for Multifamily Project in Metro Dallas

by Taylor Williams February 1, 2023

GARLAND, TEXAS — Dallas-based Anthem Development has received $63 million in construction debt and joint venture equity for a 340-unit multifamily project in Garland, a northeastern suburb of Dallas. The community, named Lofts iThirty, will consist of five four-story buildings with two pools, two fitness centers, a pet park, coffee bar, game room and outdoor kitchens. Construction is set to begin this summer and to be complete in 2025. Los Angeles-based Nova Capital arranged the financing through Bank OZK and secured an undisclosed, institutional investment firm as the joint venture equity partner.

February 1, 2023

Development Industrial Texas

EastGroup Properties Breaks Ground on 351,000 SF Industrial Complex in Fort Worth

by Taylor Williams February 1, 2023

FORT WORTH, TEXAS — Mississippi-based developer EastGroup Properties has broken ground on a three-building, 351,000-square-foot industrial complex in North Fort Worth. The project represents Phase II of Basswood 35, a seven-building, 882,000-square-foot development. The buildings will span 89,741, 130,750 and 130,750 square feet and feature front- and rear-load configurations. Method Architects designed the project, and Talley Riggins is serving as the general contractor. Halff Associates is the civil engineer, and NAI Robert Lynn is the leasing agent. Construction is slated for a fourth-quarter completion.

February 1, 2023

Arkansas Company News Development Florida Georgia Industrial Retail Southeast

Sam’s Club to Open More Than 30 New Locations, Five Fulfillment Centers in the United States

by John Nelson February 1, 2023

BENTONVILLE, ARK. — Sam’s Club, a division of Bentonville-based Walmart Inc. and a leading membership warehouse club retailer, plans to open more than 30 new “clubs” across the United States over the next several years. The first store, which is planned for an undisclosed Florida city, is slated to open in 2024. The new clubs will span approximately 160,000 square feet, which is larger than most current locations. Most new stores will feature a seafood/sushi island, full-service floral and walk-in dairy and fresh coolers, as well as a larger healthcare space featuring a patient waiting area, health services suites, private consultation rooms and dedicated hearing and optical centers. Many of the new locations will also include fuel stations and liquor offerings. In addition to the new stores, the company has a multiple-year plan to invest in and modernize its supply chain through new distribution and fulfillment center locations across the country. Sam’s Club will launch five new supply chain fulfillment and distribution centers this year, with the first location planned in Georgia in the third quarter. Kathryn McLay, CEO of Sam’s Club, says the decision to invest in expanding the company’s physical footprint was motivated by historic comparable sales growth …

February 1, 2023

Development Multifamily Student Housing Utah Western

Utah Tech University to Break Ground on 564-Bed Campus View Suites Residence Hall

by Amy Works February 1, 2023

ST. GEORGE, UTAH — Utah Tech University is set to break ground on the 564-bed third phase of its Campus View Suites residence hall project in St. George. Set to open in fall 2024, the final phase of the development will span 164,600 square feet. Shared amenities will include a fitness room; multipurpose room; laundry facilities, common kitchens and living rooms on each floor; indoor bike storage; game room; grocery store stocked with fresh fruit, vegetables and dairy; private and shared study rooms; and housing staff offices. The 352-bed first phase of development was delivered in fall 2016. The second phase of the project was completed in fall 2021 and offers 534 beds. The development team for Phase III includes DFCM, Layton Construction and Method Studio.

February 1, 2023

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

GID Signs Four New Retailers to Join $2B High Street Mixed-Use Development in Atlanta

by John Nelson February 1, 2023

ATLANTA — GID Development has signed four new tenants to join High Street, a $2 billion mixed-use, transit-oriented development underway in Atlanta’s Central Perimeter submarket. Phase I of the development, which will span 10 city blocks near the Dunwoody MARTA station, is set to come on line in 2024. The new tenants joining High Street include three food-and-beverage concepts — Agave Bandido, Cuddlefish and Ben & Jerry’s — as well as boutique beauty salon Sugarcoat. Previously committed tenants at High Street include Puttshack and Hampton Social. In addition to 150,000 square feet of retail and restaurant space, the development will feature 90,000 square feet of new loft offices, 600 apartments and a signature park.

February 1, 2023

Development North Carolina Office Southeast

Crescent Communities Begins Renovations of SouthCourt Office Building in Durham

by John Nelson February 1, 2023

DURHAM, N.C. — Crescent Communities has begun renovations at SouthCourt, a 140,000-square-foot office building located in south Durham. The Charlotte-based developer purchased the six-story asset last year. Renovations include the addition of outdoor patio space and four turnkey office suites that will be available for occupancy in the second quarter, as well as improvements to the lobby, commons areas and restrooms. Additional onsite amenities will include a personal training facility, full-service salon, private terraces on upper floors and a modern conference center. On the ground floor, retail space is available for leasing through CBRE | Raleigh, including café and commercial kitchen spaces. Crescent Communities has tapped Dennis Hurley and Hillman Duncan of JLL’s Raleigh office to handle SouthCourt’s office leasing assignment.

February 1, 2023

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