Development

Weitzman Completes Renovation of 162,925 SF Retail Center in Metro Dallas

by Taylor Williams October 13, 2022

RICHARDSON, TEXAS — Weitzman has completed the renovation of Dal-Rich Towne Square, a 162,925-square-foot retail center located in the northeastern Dallas suburb of Richardson. A 50,000-square-foot Cottonwood Market anchors the center, and other tenants include Jason’s Deli, Little Caesars and McDonald’s. Weitzman upgraded various aesthetic components and amenity spaces at Dal Rich Towne Square, which was originally built in 1965, and implemented a new digital marketing program for the center and individual tenants.

October 13, 2022

Development Industrial Midwest Missouri

Opus Begins Construction of Two Additional Spec Buildings at Liberty Heartland Logistics Center in Missouri

by Kristin Harlow October 13, 2022

LIBERTY, MO. — The Opus Group has begun construction of two additional speculative buildings within Liberty Heartland Logistics Center in Liberty, a northeast suburb of Kansas City. The two-building project is a joint venture between Opus and Washington Capital Management Inc. A 572,000-square-foot building at 1401 Shepherd Road will feature a clear height of 36 feet, four drive-in doors, 76 dock doors, 152 stalls for trailer parking and 547 vehicle parking stalls. A 240,000-square-foot building at 1501 Shepherd Road will feature a clear height of 32 feet, two drive-in doors, 32 dock doors, 67 trailer parking stalls and 259 vehicle parking stalls. Completion is slated for summer 2023. Opus is the developer, design-builder, architect and structural engineer. Michael VanBuskirk, Mark Long, John Hassler and Scott Bluhm of Newmark Zimmer are marketing the buildings for lease.

October 13, 2022

Development Midwest Missouri Retail

Topgolf Underway on Construction of Second Location in Metro St. Louis

by Kristin Harlow October 13, 2022

ST. LOUIS — Topgolf is underway on the construction of its new venue in Midtown St. Louis. The location marks Topgolf’s second in the greater St. Louis market, following one in Chesterfield. Completion is slated for late 2023. Situated within view of the Gateway Arch, the three-level venue will feature 102 outdoor hitting bays along with a full-service restaurant and bar. Guests will also enjoy an outdoor patio, rooftop terrace and private event space. Topgolf acquired the land for the venue from Saint Louis University. The new Topgolf location is part of the 400-acre development area guided by the St. Louis Midtown Redevelopment Corp. (STLMRC). Saint Louis University formed STLMRC in partnership with SSM Health five years ago in effort to spearhead the development of new entertainment, recreational and community facilities.

October 13, 2022

California Development Multifamily Student Housing Western

Ohlone College, Gilbane Plan 400-Bed Residence Hall in Newark, California

by Amy Works October 13, 2022

NEWARK, CALIF. — A public-private partnership between Gilbane Development Co. and Ohlone College have announced plans for a 400-bed residence hall project. The development will be located within the Ohlone Community College District in Newark and is set to be priced affordably. Potential project features could include a childcare center for student parents, to be operated by a third-party service provider; options for accessibility of food in proximity to the community; and space for student counseling services. The partnership is set to break ground on the development next year with completion scheduled for July 2025. “Ohlone College is committed to breaking down barriers that prohibit any student from receiving a quality higher education,” says Dr. Eric Bishop, superintendent and president of Ohlone College. “A student’s primary focus should be on their studies, not finding housing. Providing affordable student housing is just one step in assisting students to reach their fullest potential.” The partnership plans to submit a grant application to the State of California to apply for funds in accordance with Senate Bill 169 – Affordable Student Housing Budget Investment. Gilbane Building Co. will act as builder for the project and PBK + Mogavero Architects as design team.

October 13, 2022

Development Seniors Housing Southeast Virginia

Erickson Opens Phase I of $500M Seniors Housing Community in Short Pump, Virginia

by John Nelson October 13, 2022

SHORT PUMP, VA. — Erickson Senior Living has opened the first phase of Avery Point, a $500 million continuing care retirement community in Short Pump, a suburb of Richmond. The community is situated on a 94-acre campus and currently features 216 independent living units. A second phase currently under construction will add 107 more independent living units. Upon full buildout, plans call for 1,160 independent living units in addition to an onsite continuing care neighborhood offering assisted living, memory care and skilled nursing services. The property is Erickson Senior Living’s third in Virginia. The design-building team includes Moseley Architects and Brinkmann Constructors.

October 13, 2022

Development Loans Mixed-Use North Carolina Office Southeast

Avison Young Arranges $139M Construction Loan for 1000 Social Office Project at Exchange Raleigh

by John Nelson October 13, 2022

RALEIGH, N.C. — Avison Young has arranged a $139 million loan for the construction of 1000 Social, a 12-story trophy office building in Raleigh. The 350,000-square-foot project represents the first phase of vertical construction at The Exchange Raleigh, a $1 billion, 40-acre mixed-use development that will feature nearly 1 million square feet of trophy office space, a park, apartments, stores and restaurants upon full buildout. Wes Boatwright, Michael Yavinsky, Jon Goldstein and Connor Burke of Avison Young’s Structured Finance Group arranged the financing on behalf of the developer, Dewitt Carolinas. The direct lender was not disclosed. The groundbreaking for 1000 Social took place last month, with construction expected to be completed in about 18 months. The new landmark tower will offer 20,000 square feet of ground-floor retail space, outdoor patios, individual bathroom pods on every floor, event center and a parking structure with over 1,500 spaces.

October 13, 2022

Development Kentucky Southeast Student Housing

Investment Property Advisors, University of Louisville Complete 128-Bed Residence Hall

by John Nelson October 13, 2022

LOUISVILLE, KY. — A public-private partnership between the University of Louisville (UofL), UofL Athletics, the UofL Foundation and Investment Property Advisors has completed Denny Crum Hall. The residence hall, named after former UofL basketball coach Denny Crum, offers 128 beds across 67 apartment-style units with bed-to-bath parity. Each unit includes a full kitchen and living room and is fully furnished. Shared amenities include a rooftop deck, event lounge, two theaters, billiards and gaming lounge, café, study area, conference room, outdoor patio and a pickleball court. The majority of Denny Crum Hall’s units are occupied by the university’s lacrosse and men’s and women’s basketball teams. L&N Credit Union provided special-term construction/permanent financing for the project. Private equity was also contributed, incorporating Opportunity Zone compliant funding and donor funding from UofL Athletics.

October 13, 2022

Development Florida Industrial Leasing Activity Southeast

Cushman & Wakefield Arranges 200,147 SF Lease for Warehouse Underway in South Florida

by John Nelson October 13, 2022

TAMARAC, FLA. — Cushman & Wakefield has arranged a new lease totaling 200,147 square feet for Sonny’s Enterprises LLC to fully occupy a new industrial warehouse being developed at Tamarac Business Center. Sonny’s Enterprises is the parent company of car wash chain Sonny’s The CarWash Factory. The locally based company already leases 345,000 square feet of space within Tamarac Business Center. Upon completion in 2023, the industrial warehouse will sit on a 12-acre site located at 5601 N Hiatus Rd. in Tamarac. The land currently houses a 100,000-square-foot office building that will be demolished. Chris Metzger, Rick Etner Jr., Christopher Thomson and Matt McAllister of Cushman & Wakefield’s South Florida Industrial Team represented the landlord, Hiatus Industrial Venture LLC, which is a joint venture between BlackRock and Butters Construction & Development.

October 13, 2022

Arizona Development Industrial Mixed-Use Retail Top Stories Western

Thompson Thrift Breaks Ground on 1 MSF Elliot Tech Center Mixed-Use Campus in Mesa, Arizona

by Katie Sloan October 13, 2022

MESA, ARIZ. — Thompson Thrift has broken ground on Elliot Tech Center, a 1 million-square-foot industrial and retail campus located at the intersection of Elliot and Signal Butte roads within Mesa’s Elliot Road Technology Corridor. At full build-out, the project will span 75 acres and include eight industrial and retail buildings. The project is located northeast of Phoenix-Mesa Gateway Airport, north of Apple’s Global Command Center and east of Meta’s Mesa Data Center, which is currently under construction. Phase I of the development is scheduled for completion in fall 2023 and will include three industrial buildings ranging from 79,000 square feet to 89,000 square feet and five retail pads. The industrial buildings will feature secure truck courts, a variety of bay sizes and clear heights from 28 feet to 32 feet. Black Rock Coffee Bar and an unnamed convenience store are set to open within the retail portion of Phase I, and lease negotiations are currently underway for a 4,000-square-foot, full-service restaurant. Ken McQueen and Chris McClurg of Lee & Associates are handling leasing for the industrial portions of the development, and Phoenix Commercial Advisors is marketing the retail component. The design-build team for Phase I of the project includes Butler …

October 13, 2022

Company News Development Office Texas

Wells Fargo to Open 22-Acre Office Campus in Irving, Add 650 Jobs

by Taylor Williams October 12, 2022

IRVING, TEXAS — Wells Fargo (NYSE: WFC) will open a 22-acre campus in Irving, a move that is expected to add about 650 new jobs and $455 million in total capital investment to the local economy. The San Francisco-based banking giant’s build-to-suit campus will comprise two 10-story, 400,000-square-foot buildings and a connecting parking garage, as well as various open green spaces. According to The Dallas Morning News, Wells Fargo expects to eventually employ about 3,000 people at the campus. A construction timeline was not disclosed. Mirasol Capital sold the land on which the campus will be developed.

October 12, 2022

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