Development

Kraus-Anderson Begins $2M Renovation for Modist Brewing in Minneapolis

by Kristin Harlow March 24, 2023

MINNEAPOLIS — Kraus-Anderson has begun a $2 million renovation project for Modist Brewing Co. in Minneapolis. Designed by Perkins & Will, the 7,000-square-foot renovation of Modist’s existing North Loop building will add new offices, a brewing lab and event space. There will be a two-story event space along with a pre-function bar and waiting area. Kraus-Anderson is working in partnership with J. Benson, a minority business enterprise contractor. Completion is slated for mid-July. Modist Brewing is located at 505 N. 3rd St. within the city’s warehouse district.

March 24, 2023

Development Industrial Loans New York Northeast Top Stories Walker & Dunlop

Walker & Dunlop Arranges Construction Financing for $146M College Point Logistics Center in Queens

by Jeff Shaw March 24, 2023

NEW YORK CITY — Walker & Dunlop’s capital markets team has arranged $94 million in construction financing for the development of College Point Logistics Center in the College Point neighborhood of Queens, just across Flushing Bay from LaGuardia International Airport. A joint venture between Wildflower Ltd. and Drake Real Estate Partners is developing the project, with construction costs estimated at $146 million. College Point Logistics Center will be a ground-up warehouse and structured parking facility. The property will feature 81,000 square feet of rentable industrial space, as well as 160,000 square feet of enclosed parking across two floors and 68,000 square feet of surface-level parking. Wildflower designed the project with ground-floor warehouse space and multi-story parking to maximize the project’s efficiency and meet the needs of modern industrial and logistics tenants. College Point Logistics Center is located alongside the Whitestone Expressway, making it accessible to LaGuardia and John F. Kennedy International Airports, the New York and Atlantic Railways and the Red Hook Container Terminal. Development of the facility is scheduled for completion in the second quarter of 2024. Jonathan Schwartz, Aaron Appel, Mo Beler, Ari Hirt and Triston Stegall led the Walker & Dunlop team in securing the floating-rate loan on behalf of …

March 24, 2023

Development Multifamily Washington Western

MSquared Receives Funding for $54M Mixed-Income Apartment Project in Lynnwood, Washington

by Jeff Shaw March 23, 2023

LYNNWOOD, WASH. — MSquared has received $54 million in funding for Kōz on Alderwood, a 200-unit apartment development in the Seattle suburb of Lynnwood. Kōz Development is partnering with MSquared on the mixed-income, transit-oriented development. The project is being financed by $35 million in debt from Coastal Community Bank, $13 million in equity from MSquared and $6 million in equity from Kōz Development investors. Construction of Kōz on Alderwood is scheduled to begin in spring 2023, with a planned completion date of early winter 2025.

March 23, 2023

Development Healthcare Massachusetts Northeast

Seaman DiCarlo Completes Renovation Project at 229-Bed Hospital in Winchester, Massachusetts

by Taylor Williams March 23, 2023

WINCHESTER, MASS. — General contractor Seaman DiCarlo has completed the renovation of the radiology oncology department at Winchester Hospital, a 229-bed facility located on the northwestern outskirts of Boston. The hospital is part of the Beth Israel Lahey healthcare system. Locally based design firm Margulies Perruzzi served as the project architect and has now completed 28 collaborations with Beth Israel Lahey, including eight at Winchester Hospital.

March 23, 2023

Development Industrial North Carolina Southeast

Collett Industrial to Develop 693,020 SF Northside 77 Business Park in Troutman, North Carolina

by John Nelson March 23, 2023

TROUTMAN, N.C. — Collett Industrial plans to develop Northside 77, a three-building industrial park in the northern Charlotte suburb of Troutman. Situated along I-77, the park will comprise Building 1 (217,620 square feet), Building 2 (340,200 square feet) and Building 3 (135,200 square feet). Collett Industrial has tapped Grant Miller and Phoebe Dinga of Colliers’ Charlotte office to handle the leasing assignment for the project. The Charlotte-based developer plans to break ground in the third quarter and deliver the park in the second half of 2024. Colliers’ Charlotte office is also the leasing agent for Collett’s Airport 85 Business Center industrial park in Charlotte.

March 23, 2023

Development Multifamily New Jersey Northeast

Fields Grade, Slokker Group Begin Leasing 109-Unit Apartment Building in Rahway, New Jersey

by Taylor Williams March 23, 2023

RAHWAY, N.J. — A partnership between developers Fields Grade and The Slokker Group has begun leasing a 109-unit apartment building in the Northern New Jersey community of Rahway. The building is the second at The Mint, a development in the downtown area, the first phase of which consisted of 116 units that were completed in 2020. The new building rises six stories and offers studio, one- and two-bedroom units, as well as Class A amenities. Rents start at $2,095 per month for a studio apartment.

March 23, 2023

Development Leasing Activity Mixed-Use North Carolina Restaurant Retail Southeast

CBRE Negotiates Four New Leases at Queen City Quarter Mixed-Use Redevelopment in Uptown Charlotte

by John Nelson March 23, 2023

CHARLOTTE, N.C. — CBRE has arranged four new leases for retailers and restaurants to join Queen City Quarter, a mixed-use redevelopment of the former EpiCentre property in Uptown Charlotte. The multi-level, 302,324-square-foot development is located along College Street and houses World of Beer, Mortimer’s Café & Pub and Bowlero, all of which recently renewed their leases. The new tenants joining Queen City Quarter’s tenant roster include Portal 123, a rotating Instagram museum and immersive art experience; Nostalgia Hollow Co., a locally based coffeeshop and home goods retailer; Cajun Market, a fast-casual Cajun-Creole restaurant; and Super Icy Brothers, a frozen dessert shop. All four concepts plan to open in the second or third quarter. Kaitlyn Fitch, Kivett Williams and Katherine Southard of CBRE handled the lease negotiations on behalf of the landlord, an entity doing business as 210 East Trade Street Holdings LLC. In addition to the leases, CBRE will begin the previously announced renovations and improvements to the property in late spring. Most of the work will be in the property’s 15,462-square-foot plaza and include replacing the pavers along the walkways and installing benches with planters in the main common area. The building’s interior façades on all levels, in addition to …

March 23, 2023

Development Illinois Midwest Multifamily

Finger Cos. Opens 373-Unit Luxury Apartment Complex in Schaumburg, Illinois

by Kristin Harlow March 23, 2023

SCHAUMBURG, ILL. — The Finger Cos. has opened The Quin, a luxury apartment complex rising four stories with 373 units in the Chicago suburb of Schaumburg. Located at 2450 Plum Grove Road, the property offers floor plans ranging from 691 to 1,394 square feet. All floor plans include private balconies, with some offering dens for home offices or storage. Monthly rents start at $1,950. Amenities include resident lounges, a golf simulator room, fitness center, business center, pet grooming room, package room, landscaped green space and two outdoor pools.

March 23, 2023

Development Healthcare Midwest Wisconsin

Kraus-Anderson to Build 9,000 SF Health Clinic at Olympia Fields in Oconomowoc, Wisconsin

by Kristin Harlow March 23, 2023

OCONOMOWOC, WIS. — The Milwaukee office of Kraus-Anderson will build a new VA healthcare clinic at Olympia Fields in Oconomowoc. Designed by Plunkett Raysich Architects, the 9,000-square-foot clinic will be leased by the U.S. Department of Veterans Affairs. The facility will feature reception and waiting areas, exam rooms, women’s health exam areas, mental health services, consultation rooms, telehealth services and a conference room. Wangard Partners, a Milwaukee-based real estate investment firm, is the developer and manager. Wangard is the developer behind Olympia Fields, a mixed-use project that includes The Locklyn apartment community and a Sendiks Food Market. The site will also feature a hotel, medical offices, commercial space and a recreational bike trail. Construction on the VA clinic is expected to begin in May and be completed in December.

March 23, 2023

Development Industrial Texas Top Stories

Sempra Releases Final Plans for $13B Liquid Natural Gas Export Terminal in Port Arthur, Texas

by Katie Sloan March 23, 2023

PORT ARTHUR, TEXAS — Sempra Infrastructure Partners, a subsidiary of energy infrastructure firm Sempra (NYSE: SRE), has released plans for Phase I of Port Arthur LNG, a $13 billion natural gas liquefaction and export terminal in Port Arthur. Phase I of the project will include two liquefaction trains capable of producing up to 13.5 million metric tons per annum (MTPA) of liquefied natural gas (LNG); up to three LNG storage tanks; marine facilities, including two marine berths for LNG vessel berthing and loading; natural gas liquids and refrigerant storage; feed gas pre-treatment and truck loading areas; and combustion turbine generators for on-site generation of electrical power. A three-mile portion of State Highway 87 between the Intracoastal Waterway and Keith Lake Pass will also be relocated to accommodate the development of Phase I, which is located along the Sabine-Neches ship channel, offering direct access to the Gulf of Mexico. Sempra has closed a joint venture with an affiliate of ConocoPhillips for Phase I of the project, which has been approved by the Federal Energy Regulatory Commission (FERC). The firm has also agreed to sell an indirect, non-controlling interest in the development to an infrastructure fund managed by KKR, and has closed …

March 23, 2023

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