NAPERVILLE, ILL. — Newcastle Properties is set to begin construction on a new 8,300-square-foot, multi-tenant outlot building and a new 3,260-square-foot endcap space at the 270,327-square-foot Eastgate Crossing in Naperville. The development will include Kura Revolving Sushi Bar and NaanSense, an Indian fast-casual chain. Adam Cody of JLL represented Kura, while Phil Golding of CBRE represented NaanSense. Midwest Construction Partners will serve as general contractor, and Sean Devine of Newcastle Properties is the project manager. Eastgate Crossing is currently home to tenants such as HMart, Dollar Tree, CVS, Panera Bread and Citibank.
NORTH LAS VEGAS, NEV. — The Newport Beach, Calif., office of Trammell Crow Co. and Washington Capital Management, on behalf of its client, have commenced construction of Phase III at the 134.7-acre Golden Triangle Logistics Center in North Las Vegas. The new phase will include 600,000 square feet of industrial space spread across two Class A buildings and bring the development’s footprint to nearly 2.3 million square feet across five buildings. Located at the southwest corner of East Washburn Road and Statz Avenue, Building 4 will feature 400,371 square feet. Slated for a mid-year 2023 completion, the rear-load facility will offer 36-foot clear heights, 63 dock-high truck doors, two drive-in doors and parking for 338 cars and 74 trailers. Located at 2815 E. Washburn Road, the 202,705-square-foot Building 5 is preleased to Fasteners Inc. Southwestern Supply. Scheduled for a spring 2023 occupancy, the rear-load facility will feature 36-foot clear heights, 29 dock-high truck doors, one drive-in door and parking for 127 cars and 35 trailers. The tenant, a wholesaler of construction equipment and supplies, will use the building as its West Coast distribution hub. Rob Lujan of JLL represented Fasteners Inc. Southwestern Supply in the lease. Donna Alderson of Cushman …
LACEY, WASH. — Buchanan Mortgage Holdings, an affiliate of Buchanan Street Partners, has provided a $39 million non-recourse construction loan for the completion of a garden-style multifamily community in Lacey. The borrower is Harbor Custom Development. Upon completion, the 177-unit property will offer a mix of studio, one- and two-bedroom residences with Class A finishes and above-average unit sizes compared to the existing competitive set. Harbor plans to lease the community’s first phase beginning in February 2023 and complete construction in June 2023.
SEATTLE — PeakMade Real Estate and Blue Vista Capital Management have completed construction of Theory U District, a 441-bed student housing development located near the University of Washington in Seattle. The seven-story community offers fully furnished studio to five-bedroom units. Shared amenities include a fitness center, study spaces, ground-level courtyard and rooftop amenity deck with views of the Seattle skyline. The community opened in September prior to the start of the 2022-2023 academic year. “We are very excited to be a part of the U District community and to serve the growing housing needs of University of Washington students with a well-conceived project,” says Jeff Githens, president of development at PeakMade Real Estate.
AUSTIN, TEXAS — Locally based investment and development firm Rastegar Property Co. has broken ground on INF1NITY Park, a 600,000-square-foot industrial project in Austin. The property will be situated on 50 acres at 11708 McAngus Road near the Tesla Gigafactory and will be developed in phases. Phase I will comprise three buildings ranging in size from 90,000 to 168,000 square feet, one of which is already fully preleased. The second phase will feature a 241,920-square-foot building that will be marketed as a build-to-suit opportunity. The buildings will offer 32- to 36-foot clear heights and a total of 246 docks and 800 parking spaces.
AUSTIN, TEXAS — A partnership between Stream Realty Partners and Charlotte-based investment firm Barings will develop 1400 East, a six-story office building in East Austin. The square footage of the project is still being determined. Amenities will include private patios on each floor, a ground-floor paseo and onsite restaurant space, as well as a fitness center and bike valet services. HKS is the project architect. Construction is scheduled to begin in early 2023 and to be complete in late 2024.
WEST LAFAYETTE, IND. — Brinkmann Constructors and Subtext have broken ground on VERVE, a seven-story student housing property located two blocks from the Purdue University campus in West Lafayette. Completion is slated for fall 2024. Located at 102 W. Wood St., the community will feature 751 beds across 235 units along with 265 parking spaces and 5,516 square feet of retail space. The units are fully furnished. Designed by WDG, the property features amenities such as a coffee bar, private study pods, group study rooms, a market, fitness center, lounge and two courtyards. The pool courtyard is equipped with an outdoor pool, hot tub, outdoor kitchen, multi-purpose turf lawn, grill stations and firepits. The Zen courtyard features a dog park and hammocks. This fall, total enrollment at Purdue reached a record high of 50,884 students.
O’FALLON, ILL. — Poettker Construction has completed Revela at O’Fallon, a 92-unit senior living community in O’Fallon, about 20 miles east of St. Louis. A grand opening event is scheduled for Tuesday, Oct. 18. The 89,000-square-foot property offers independent living, assisted living and memory support. St. Louis Design Alliance was the project architect, and Premier Senior Living is the property manager.
WASHINGTON, D.C. — Foulger-Pratt has broken ground on Paxton, an affordable housing development located at the intersection of Benning Road and 16th Street in northeast Washington, D.C.’s Kingman Park district. The $101 million project will feature eight studio, 87 one-bedroom, 16 two-bedroom and 37 three-bedroom rental apartments upon completion, which is set for April 2024. A majority (133 units) will be reserved for households earning at or below 50 percent of the area median income (AMI). The remaining will be reserved for households earning at or below 30 percent of AMI and are designated as “permanent supportive housing.” All residents will have access to services through Hope Multiplied, a locally based nonprofit providing community development, health-and-wellness and socio-economic programs. Residents in the permanent supportive housing units will receive support services through Community of Hope, a local organization working to end family homelessness and improve health. Financing partners for Paxton include the District of Columbia Housing Finance Agency, which issued $46.9 million in tax exempt bonds and underwrote $42 million in D.C. and federal Low Income Housing Tax Credit (LIHTC) equity, in addition to a $29 million Housing Production Trust Fund loan from the D.C. Department of Housing and Community Development. …
NASHVILLE, TENN. — Alliance Residential Co. has opened Broadstone SoBro, a 226-unit apartment community located at 800 4th Ave. S. in Nashville. The property comprises studio, one- and two-bedroom luxury apartment units that are renting at $1,851 per month, according to the community’s website. Designed by Brock Hudgins Architects, Broadstone SoBro’s community amenities include a resort-style saltwater pool; an outdoor courtyard with grilling stations, fire pit, dining and lounge space; a fitness room featuring a local artist-commissioned mural; a terrace-level library featuring private and coworking spaces; dog spa; and a sky lounge wine bar including private seating areas, fireplace, record lounge and oversized balcony. The development is Alliance Residential’s sixth in the Nashville market.