Development

MDH Partners, Hight Knox Deliver 420,750 SF Warehouse in Shannon, Georgia

by John Nelson January 16, 2023

SHANNON, GA. — MDH Partners and Hight Knox Properties have delivered Hillman Group Building, a 420,750-square-foot warehouse situated on nearly 60 acres at 6695 New Calhoun Highway NE in Shannon. The property was a build-to-suit for The Hillman Group, a building solutions and hardware supplier firm based in Cincinnati. Currently the firm operates three separate facilities in the Georgia cities of Rome, Smyrna and Adairsville. The new Shannon warehouse will support 200 jobs, including 144 transferring from an existing location. Hillman Group Building features 210 parking spaces, 107 exterior dock doors and 36-foot clear heights.

January 16, 2023

Development Loans Multifamily New Mexico Seniors Housing Western

JLL Arranges $51.8M Construction Financing for Ativo Seniors Housing Community in Albuquerque

by Amy Works January 16, 2023

ALBUQUERQUE — JLL Capital Markets has arranged $51.8 million in construction financing for the development of Ativo of Albuquerque, a three-story, 144-unit senior living community in Albuquerque. JLL represented the borrower, Link Senior Development LLC, in securing the financing through an undisclosed lender. Once completed, Ativo of Albuquerque will offer a mix of independent living, assisted living and memory care units ranging from studio to two-bedroom units. Situated on 6.5 acres, the community will be adjacent to a new ambulatory urgent care center and a medical office building. The community will benefit from the nearby Rio Grande River and Recreation Area, which offers an expansive network of walking trails and various parks along with the Petroglyph National Monument and an 18-hole golf course. Alanna Ellis led the JLL Capital Markets debt advisory team.

January 16, 2023

Arizona Development Loans Multifamily Western

CBRE Secures $38.6M Construction Loan for Aerie Northwest Multifamily Project in Tucson

by Amy Works January 16, 2023

TUCSON, ARIZ. — CBRE has secured $38.6 million in financing for the construction of Aerie Northwest, an apartment property located at the southeast corner of North La Cholla Boulevard and North Fountains Avenue in northwest Tucson. Bruce Francis, Bob Ybarra, Shaun Moothart and Doug Birrell of CBRE Capital Markets’ debt and structured finance team in Phoenix secured the financing for the undisclosed developer. The loan features full-term interest-only payments and an 80 percent loan-to-cost ratio. Situated on 12.2 acres, Aerie Northwest will feature 17 two-story buildings offering a total of 144 one-, two- and three-bedroom apartments. Community amenities will include a pool house, pool, spa and dog park.

January 16, 2023

Colorado Development Multifamily Western

Fifield Cos. Breaks Ground on 302-Unit Arden Englewood Apartments Near Denver

by Amy Works January 16, 2023

ENGLEWOOD, COLO. — Fifield Cos. has started construction of Arden Englewood Apartments, a transit-oriented multifamily community in Englewood. Slated for completion in 2024, the four-story building is the redevelopment of the former Sports Authority headquarters parking lot, which has been vacant since 2016. Located at 3615 S. Jason St., Arden Englewood will feature 302 apartments in a mix of studio, one-, two- and three-bedroom layouts ranging from 570 square feet to 1,550 square feet. Units will offer quartz countertops, soft-close cabinetry, stainless steel appliances, spa baths, custom closet organizers and in-unit laundry. Community amenities will include a leasing office, fitness center, parking for 440 vehicles, a rooftop lounge and deck, swimming pool, hot tub, yoga garden and party room. Additional amenities will include a business center and coworking space with an outdoor patio. The project team includes KTGY as architect, Studio 10 as interior designer and W.E. O’Neil as general contractor. CIBC provided the construction loan.

January 16, 2023

Delaware Development Industrial Northeast

First Industrial Realty to Develop 358,000 SF Distribution Center in Claymont, Delaware

by Taylor Williams January 16, 2023

CLAYMONT, DEL. — Chicago-based REIT First Industrial Realty Trust has acquired 28 acres in Claymont, about 25 miles south of Philadelphia, for the development of a 358,000-square-foot distribution center. The site is located within the 425-acre First State Crossing mixed-use development. The rear-load facility will offer a clear height of 40 feet, 68 dock positions and 241 trailer parking stalls. St. Louis-based Commercial Development Co. sold the land on which the facility will be built. Completion is slated for October.

January 16, 2023

Development Massachusetts Northeast Office Top Stories

Chiofaro Plans $100M Transformation of International Place Office Complex in Downtown Boston

by Taylor Williams January 16, 2023

BOSTON — The Chiofaro Co., a locally based investment and development firm, has unveiled plans for the $100 million transformation of International Place, a 1.8 million-square-foot office complex in downtown Boston. Built in phases between 1987 and 1992, International Place consists of a 46-story tower and a 35-story building that are connected by a public courtyard. The complex is home to more than 90 tenants, many of which are in the legal, financial services and tech sectors. Global architecture firm Gensler is leading the design of the project, the centerpiece of which will be a 16,000-square-foot amenity center that will be known as The Aries Club. This center will house a tenant lounge, flexible workspaces, conferencing facilities, podcast rooms, mothers’ rooms, a bar and a 3,000-square-foot outdoor terrace. Chiofaro will contract a third-party hospitality management group to run The Aries Club. The capital improvement program also calls for the renovation of the entrance of One International Place with upgraded lighting and protective glass canopies to imbue the building with more hospitality-like curb appeal. Ownership will also modernize the retail storefronts at One International Place. At Two International Place, Chiofaro is planning a similar renovation of the entrance to elevate lighting, …

January 16, 2023

Development Florida Office Southeast

Bromley, Highwoods Break Ground on 18-Story Midtown East Office Tower in Tampa

by John Nelson January 13, 2023

TAMPA, FLA. — Bromley Cos. and Highwoods Properties have broken ground on Midtown East, an 18-floor office tower located within the duo’s Midtown Tampa mixed-use development. Comprising 430,000 square feet, the project is designed by architectural firm Rule Joy Trammell + Rubio and Brasfield & Gorrie is serving as general contractor. Scheduled for completion in 2025, the tower will be the anchor building within Midtown Tampa. The development’s existing office space is currently over 98 percent leased. Bromley and Highwoods will jointly own 134,000 square feet of the finished building, with the remaining space serving as the headquarters for Tampa Electric and Peoples Gas.

January 13, 2023

Development Life Sciences North Carolina Southeast

Apollo, GeneSuites Underway on 446,000 SF Biomanufacturing Campus in Metro Raleigh

by John Nelson January 13, 2023

HOLLY SPRINGS, N.C. — Affiliates of Apollo and GeneSuites are underway on the construction of Catalyst BioCampus, a 446,000-square-foot biomanufacturing development in Holly Springs, roughly 20 miles southwest of Raleigh. The development, which is scheduled for completion early this year, will be pre-equipped with mechanical, electrical and building infrastructure designed in accordance with Current Good Manufacturing Practice (cGMP) specific to biomanufacturing facilities. This design, branded High Performance Shell by GeneSuites, will support the acceleration of speed-to-market for biopharmaceutical companies by approximately nine to 15 months, according to CBRE|Raleigh. Lee Cllyburn John Hogan III of CBRE|Raleigh are handling leasing at the development.

January 13, 2023

Development Multifamily Texas

LV Collective to Develop 48-Story Multifamily Tower in Austin’s Rainey Street District

by Taylor Williams January 13, 2023

AUSTIN, TEXAS — Locally based developer LV Collective will construct a 48-story multifamily tower in Austin’s Rainey Street District that will be known as Paseo. Paseo will offer 557 units in one-, two- and three-bedroom formats, with residential amenities across multiple floors and several food-and-beverage concepts on the ground floor. Approximately 20 percent of the residences will be reserved as affordable housing. JE Dunn Construction is the general contractor for the project, and Pappageorge Haymes Partners is the architect. UMB Bank is providing construction financing. Construction is scheduled to begin in the first quarter and to be complete in late 2025.

January 13, 2023

Development Florida Self-Storage Southeast

U-Haul Delivers 800-Unit Self-Storage Facility in Florida Panhandle

by John Nelson January 13, 2023

FORT WALTON BEACH, FLA. — U-Haul has completed the development of a new, 800-unit self-storage facility in Fort Walton Beach dubbed U-Haul Moving & Storage of the Emerald Coast. Located at 200 Irwin Ave., the facility comprises 138,000 square feet. U-Haul acquired the property, which was originally constructed in 1971 and formerly housed a J.M. Fields department store and Kmart, in 2019. The acquisition and adaptive reuse of the site aligns with U-Haul’s corporate sustainability initiatives, and the company worked with the Audubon Society to maintain a bird-friendly rooftop for the threatened Least Turn and Black Skimmer species.

January 13, 2023

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