Development

Love’s Truck Solutions to Open 252,500 SF Distribution Center in Natalia, Texas

by Taylor Williams May 19, 2023

NATALIA, TEXAS — Love’s Truck Solutions, which operates truck stops across the country, will open a 252,500-square-foot distribution center in Natalia, about 30 miles southwest of San Antonio. HDA Architects designed the $23 million facility, the site of which is situated adjacent to an existing Love’s Travel Stop. The facility will house a tire warehouse, temperature-controlled storage space and 5,500 square feet of office space. Building features will include two drive-up doors, 24 full docks and four overhead doors. Construction is underway and expected to be complete this fall.

May 19, 2023

Development Multifamily New Jersey Northeast

J&L Cos. Begins Leasing 403-Unit Apartment Community in Newark

by Taylor Williams May 19, 2023

NEWARK, N.J. — Locally based developer J&L Cos. has begun leasing Fifty-Five Union, a 403-unit apartment community in Newark’s historic Ironbound neighborhood. Designed by Minno & Wasko Architects & Planners, the property offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a fitness center, business center, clubroom, coffee bar, private dining room, a rooftop garden and outdoor grilling and dining stations. Rents start at $1,900 per month for a studio apartment. Move-ins will begin later this month.

May 19, 2023

Development Hospitality New York Northeast

Lightstone Group Completes 303-Room Moxy Hotel on Manhattan’s Lower East Side

by Taylor Williams May 19, 2023

NEW YORK CITY — New York City-based development and investment firm Lightstone Group has completed the 303-room Moxy Hotel at 145 Bowery St. on Manhattan’s Lower East Side. Moxy is part of the Marriott family of brands. Designed by Stonehill Taylor and AMA Group, the boutique establishment houses a Japanese restaurant, rooftop bar, piano lounge, subterranean nightclub and a lobby café and bar. Other amenities include coworking spaces and meeting and event rooms.

May 19, 2023

Development Multifamily Northeast Pennsylvania

Westrum Development Opens 211-Unit Apartment Community in Lansdale, Pennsylvania

by Taylor Williams May 19, 2023

LANSDALE, PA. — Locally based firm Westrum Development has opened Luxor Lifestyle Apartments Lansdale, a 211-unit multifamily community located about 30 miles north of Philadelphia. Designed by Pennsylvania-based architecture firm Meyer, the property offers studio, one- and two-bedroom units and amenities such as a pool, fitness center, gaming area, outdoor grilling and dining stations and a dog wash area. Rents start at $1,800 per month for a studio apartment. The project carried a total price tag of about $28 million.

May 19, 2023

Development Industrial Nevada Western

Rockefeller Group Buys Development Site in Las Vegas for 145,630 SF Cheyenne Industrial Park

by Jeff Shaw May 19, 2023

LAS VEGAS — The Rockefeller Group has acquired seven acres of land in Las Vegas to develop two speculative industrial buildings totaling 145,630 square feet. R A Plaza LLC sold the land for $8.5 million. The project, Cheyenne Industrial Park, will be located at 3102 N. Lamb Blvd. and is fully entitled. Rockefeller plans to begin construction by the end of year. Rockefeller recently started construction on its first development in the region, Nellis Logistics Center, a 134,100-square-foot speculative distribution facility, at the southwest corner of North Nellis Boulevard and East Carey Avenue in Clark County.

May 19, 2023

Development Iowa Midwest Retail

DCI Group Breaks Ground on 62-Acre Waukee Towne Center in Suburban Des Moines

by Kristin Harlow May 19, 2023

WAUKEE, IOWA — General contractor DCI Group Inc. has broken ground on Waukee Towne Center in suburban Des Moines. Pierson Cos. is developing the 62-acre project, and Ryan Cos. is building the 148,000-square-foot Target store that will anchor the development. Corell Contractor Inc. is currently performing earthwork. Located at the intersection of Hickman and Alice’s roads, the development will include retail, entertainment and restaurant space overlooking an eight-acre lake with a fountain. Seasonal amenities will include a winter ice skating rink, summer game area, playground and amphitheater. A timeline for completion was not provided.

May 19, 2023

Affordable Housing Development Midwest Multifamily Ohio

Woda Cooper Begins Development of 97-Unit Affordable Housing Community in Columbus

by Kristin Harlow May 19, 2023

COLUMBUS, OHIO — Woda Cooper Cos. Inc. and co-developer Franklinton Development Association have broken ground on Starling Yard, a 97-unit affordable housing community in the Franklinton neighborhood of Columbus. Located at 120 S. Central Ave., the project involves the adaptive reuse of the vacant Starling Middle School. Woda Cooper secured the site through a purchase agreement with the Board of Education of the Columbus City School District. The school, listed on the Columbus Register of Historic Properties in 2022, was originally built as West High School in 1908. It has been vacant since 2013. In addition to the adaptive reuse component, the project will also include two ground-up buildings with 52 units. All of the property’s units will be reserved for residents who earn 30 to 80 percent of the area median income. Rental rates are projected to range from $400 to $1,295 per month depending on income restriction and size of the unit. Five units will be reserved for those with mobility challenges and two units for those with sight and hearing disabilities. Primary financial support for Starling Yard is the result of a bond issuance and Low-Income Housing Tax Credits allocated by the Ohio Housing Finance Agency (OHFA). …

May 19, 2023

Acquisitions Development Illinois Industrial Midwest

Entre Brokers Sale of Build-to-Suit Industrial Site in Brewster Creek Business Park in Bartlett, Illinois

by Kristin Harlow May 19, 2023

BARTLETT, ILL. — Entre Commercial Realty has brokered the sale of a 3.7-acre industrial site for a build-to-suit project in Brewster Creek Business Park in the Chicago suburb of Bartlett. The corporate headquarters facility will be home to a printing and packaging company relocating from Kane County. Mike DeSerto, Cory Kay and Mike Berkowitz of Entre represented the developer, Triumph Construction. JLL represented the buyer. The deal marks the fourth build-to-suit transaction that Entre has completed in Brewster Creek Business Park on behalf of Triumph.

May 19, 2023

Development Maryland Mixed-Use Seniors Housing Southeast

Park Avenue Lifestyle to Develop $70M Seniors Housing Project at James Run in Metro Baltimore

by John Nelson May 18, 2023

BEL AIR, MD. — Park Avenue Lifestyle has purchased a site within James Run, a mixed-use development underway in the Baltimore suburb of Bel Air, from master developer JEN Partners, a real estate private equity fund based in New York. The Orlando-based buyer plans to develop a $70 million seniors housing community on the site that will feature independent living, assisted living and memory care units, as well as a fitness center, outdoor courtyards, walking paths and an in-house restaurant and pub. At full build-out, which is anticipated for 2025, James Run will comprise this seniors housing property; 190 age-targeted villas and 80 townhomes; the 304-unit James Run Apartments; more than 57,000 square feet of retail space, including boutique shops, sit-down, fast-casual and quick-service restaurants; 20,000 square feet of office and medical office space; and a 125-room hotel and conference center. The development is approximately 50 percent complete, according to JEN Partners. Committed tenants include Starbucks, Kiddie Academy, Royal Farms gas station and convenience store, two unnamed Italian and steakhouse restaurants and a freestanding wine store. Baltimore-based Craftsmen Cos. is the development manager for James Run, and MacKenzie Commercial Real Estate Services is the project’s leasing brokerage firm.

May 18, 2023

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Toro Signs 11 Tenants to Medley Mixed-Use Development Underway in Metro Atlanta

by John Nelson May 18, 2023

JOHNS CREEK, GA. — Toro Development Co. (TDC) has announced leases with 11 tenants at Medley, a mixed-use project currently underway in Johns Creek, roughly 30 miles northeast of Atlanta. Upon completion, the development will include 200,000 square feet of retail, restaurant and entertainment space, as well as 900 residential units and 110,000 square feet of office space. The committed tenants include Little Rey (a concept by Atlanta-based chef and restaurateur Ford Fry), CRÚ Food & Wine Bar, AYA Medical Spa, Fadó Irish Pub, BODY20, Lily Sushi Bar, Lucciano’s Gelato, Sugarcoat Beauty, Summit Coffee, Knuckies Hoagies and Cookie Fix. Len Erickson and Kaitlyn Theriot of Franklin Street handle retail leasing at Medley, and Bryan Heller of Stream Realty Partners handles office leasing. The design-build team includes architect Nelson Worldwide, engineer firm Kimley-Horn and landscape architect Site Solutions. Demolition of a 350,000-square-foot office building is currently underway at the site. TDC plans to break ground on Medley before the end of the year.

May 18, 2023

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