Development

DSV Air & Sea Preleases 307,378 SF Industrial Building in Bensenville, Illinois

by Kristin Harlow October 4, 2022

BENSENVILLE, ILL. — DSV Air & Sea Inc. has preleased a 307,378-square-foot industrial building in the Chicago suburb of Bensenville. The property at 1401 Devon Ave. is slated for completion in spring 2023. ML Realty Partners owns the development along with an adjacent 297,238-square-foot building that was leased by Apex Logistics International Inc. last winter. Both buildings feature a clear height of 40 feet and are situated in DuPage County. The site is less than one-half mile north of Illinois Route 390. Kevin Segerson of CBRE represented DSV Air & Sea in the lease. Andrew Maletich, Matt Garland and Dustin Albers of Cawley Chicago represented ML Realty Partners.

October 4, 2022

Development Industrial Midwest Ohio

Adena Corp. Completes 160,000 SF Spec Industrial Facility in Mansfield, Ohio

by Kristin Harlow October 4, 2022

MANSFIELD, OHIO — Adena Corp. has completed a 160,000-square-foot speculative industrial facility in Mansfield, a city about midway between Columbus and Cleveland. Located at the intersection of Bowman Street and Cairns Road, the project features a clear height of 32 feet, 17 docks, eight drive-in doors, a 36-space concrete parking lot and 1,400 square feet of office space. The property is situated adjacent to Mansfield Lahm Regional Airport. Weston Devore of CBRE is handling the marketing and leasing.

October 4, 2022

Development Industrial Self-Storage Texas

Spartan Investment Group Underway on 314-Unit Self-Storage Expansion Project in Tyler, Texas

by Taylor Williams October 4, 2022

TYLER, TEXAS — Colorado-based investment firm Spartan Investment Group is underway on construction of a 314-unit expansion project at FreeUp Storage, a self-storage facility located about 100 miles east of Dallas in Tyler. The facility currently spans 77,342 net rentable square feet across 517 units, and the expansion will increase the size of the property by 26,700 net rentable square feet. The new building will feature climate-controlled and boat/RV storage space. Spartan Investment Group plans to begin leasing the new units later this month.

October 4, 2022

Development Multifamily Texas

Civitas Capital Breaks Ground on 238-Unit Multifamily Project in Houston

by Taylor Williams October 4, 2022

HOUSTON — Dallas-based Civitas Capital Group has broken ground on UNITi Montrose, a 238-unit multifamily project in Houston. The site spans a full acre, and the building will rise six stories atop a three-story parking garage. Amenities will include a pool, coworking space and a courtyard, as well as 4,000 square feet of ground-floor retail space. Meeks + Partners is designing the project, and Arch-Con Corp. is serving as the general contractor. Completion is slated for late summer 2024.

October 4, 2022

Acquisitions Development Massachusetts Multifamily Northeast

Fairfield Residential to Develop 425-Unit Multifamily Project in Metro Boston

by Taylor Williams October 4, 2022

WOBURN, MASS. — An affiliate of San Diego-based developer Fairfield Residential has purchased land at 316 New Boston St. in Woburn, a northern suburb of Boston, for the development of a 425-unit multifamily project. Of those units, 15 percent will be reserved as affordable housing for renters earning 80 percent or less of the area median income. A construction timeline was not disclosed. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the undisclosed seller and Fairfield in the $23.4 million sale of the land.

October 4, 2022

Development Industrial Massachusetts Northeast

Partnership Breaks Ground on 267,600 SF Industrial Facility in Leicester, Massachusetts

by Taylor Williams October 4, 2022

LEICESTER, MASS. — A partnership between The Brennan Group, John M. Corcoran & Co. and Berkeley Partners has broken ground on Gateway Central, a 267,600-square-foot industrial facility in Leicester, located outside of Worcester in the central part of the state. Building features will include a clear height of 36 feet, 45 overhead doors, three drive-in doors, 299 vehicle parking spaces and 59 trailer parking stalls. Completion is slated for the second quarter of next year. Newmark has been tapped as the leasing agent in conjunction with Kelleher & Sadowsky. HarborOne Bank provided construction financing.

October 4, 2022

Development Office Texas

Cambridge Development, Preston Hollow Break Ground on 200,000 SF Office Project in San Antonio

by Taylor Williams October 3, 2022

SAN ANTONIO — A partnership between Houston-based Cambridge Development Group and Dallas-based Preston Hollow Community Capital has broken ground on WatersEdge, a 200,000-square-foot office project in San Antonio. The two-building complex will be situated within the 1,308-acre Brooks master-planned community on the city’s southeast side. The development team has tapped Transwestern to lease the development upon completion, which is slated for the third quarter of 2023.

October 3, 2022

Affordable Housing Development Multifamily Texas

Avenue Completes Affordable Housing Project in Northwest Houston

by Taylor Williams October 3, 2022

HOUSTON — Locally based developer Avenue Community Development Corp. has completed an affordable housing project in northwest Houston. Avenue on 34th offers 56 units that are reserved for renters earning up to 30, 50, 60 and 80 percent of the area median income, as well as some market-rate units. Support services for residents include an afterschool program, exercise classes, arts-and-crafts classes and onsite social events. Los Angeles-based Hunt Capital Partners contributed $3 million in Low-Income Housing Tax Credit (LIHTC) equity for the project, which carried a total price tag of $18.3 million. Amegy Bank provided a $9 million tax-exempt construction loan and $5.7 million in permanent financing as part of the capital stack.

October 3, 2022

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Stonecrest Resorts Signs 12 Tenants as Part of Stonecrest Mall Redevelopment in Metro Atlanta

by John Nelson October 3, 2022

STONECREST, GA. — Stonecrest Resorts LLC, developer of the Sears adaptive reuse project at The Mall at Stonecrest in metro Atlanta, has announced 12 new tenants coming to the development. Phase I of the redevelopment project, called Priví, was the arrival of the SeaQuest Interactive Aquarium that opened in November 2021. The second phase of the project is set to open this fall and include Hand & Stone Massage and Facial Spa; Baldwin’s Literary Social Bookstore & Coffee Bar; 3 Degrees Infrared Sauna Suites; The Lions Cage MMA Fight & Fitness Gym; Garden Life Juice Bar & Café; The Original Hot Dog Factory; Picasso’s Splat Room; Naturally Gifted Treasures & Finds; and Bricks 4 Kidz. In addition to the new shops and restaurants, Phase II will include 6,000 square feet of event space, a coworking space, studios and a fine art gallery. Construction of Phase III and the development of Phase IV will continue this winter, with a planned opening of an upper-level food hall in summer 2023 and the TRYP by Wyndham hotel coming on line in 2024. Once fully developed, Priví will be a family entertainment and lifestyle destination featuring over 200,000 square feet of eateries, shops, services, …

October 3, 2022

Development Multifamily Southeast Virginia

PTM Partners, IDI Near Completion of 318-Unit Viridium Apartment Development in Woodbridge, Virginia

by John Nelson October 3, 2022

WOODBRIDGE, VA. — Co-developers PTM Partners and The IDI Group Cos. have launched leasing at Viridium, a 318-unit, waterfront apartment development located at 1000 Annapolis Way in Woodbridge. The developers began construction in second-quarter 2021, and the first phase is scheduled to be completed and available for move-ins this November. Designed by Heffner Architects, the community’s amenities will include a rooftop terrace, outdoor pool with a sundeck, health and fitness center, business lounge, conference room, theater, dog park and pet grooming facility, electric vehicle charging stations and a putting green and cornhole. Viridium is part of a two-phase project with its sister property Rivergate North, an adjacent 402-unit property that IDI completed in May 2018.

October 3, 2022

Newer Posts

Older Posts