Development

OCONOMOWOC, WIS. — HSA Commercial Real Estate has begun development of a 226,321-square-foot speculative industrial facility at Pabst Farms, a 1,500-acre master-planned community in Oconomowoc, about 35 miles west of Milwaukee. Located one mile southwest of the I-94 and Highway 67 interchange, the Class A warehouse is slated for completion in the fourth quarter. Situated on 17.3 acres, the project will accommodate users seeking as little as 40,800 square feet. The building will feature a clear height of 32 feet, 50-foot-by-50-foot column spacing with a 60-foot speed bay, more than 30 dock doors, four drive-in doors, 342 automobile parking spaces and 140 trailer stalls. Cushman & Wakefield | Boerke is handling leasing for the property. Cornerstone Architects, a Nelson company, is the project architect. Pinnacle Engineering is the civil engineer, and Riley Construction is the general contractor. Nearly 1,000 acres have been developed across the residential, retail, healthcare and education sectors within Pabst Farms, which was created in 2002. The remaining 450 acres will be built under an updated 2024 master plan that further integrates commercial, industrial and innovation uses.

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COLUMBUS, NEB. — Midas Hospitality has developed a dual-branded hotel featuring Fairfield Inn & Suites and Townplace Suites near Harrah’s Racing and Casino in Columbus, a city in eastern Nebraska. The four-story property is under the Marriott umbrella. Locally based Foreman Lumber built the project, which caters to short-term and long-term stays with the 54-room Fairfield Inn & Suites and the Townplace Suites, which offers 48 extended-stay rooms. Amenities include a fitness center, pool, flex space, outdoor patio, meeting room and complimentary breakfast. The casino and horse racing venue came about following the passage of three Nebraska constitutional amendments in 2020, which legalized casino gambling adjacent to horse racing venues in the state.

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Scripps Memorial La Jolla

SAN DIEGO — Locally based health system Scripps Health has completed the development of a new hospital located in the La Jolla neighborhood of San Diego. Construction costs totaled $664 million.  Dubbed Scripps Memorial Hospital La Jolla North Tower, the building totals 420,000 square feet across eight floors. The property is situated on the Scripps Memorial Hospital La Jolla campus, about 15 miles north of downtown San Diego. Designed by HGA Architects, the hospital building features 188 inpatient beds, a rooftop helistop, nine operating rooms, three interventional radiology suites, expanded imaging capabilities, a NICU (neonatal intensive care unit), labor and delivery section and postpartum services.  McCarthy Building Cos. served as the general contractor for the tower, which is directly connected to the Prebys Cardiovascular Institute, also constructed by McCarthy.  According to Scripps Health, the tower was planned and constructed over eight years. Financing for the project included a $2.5 million gift from philanthropist Barbara Smith.  Scripps Health, a $5 billion not-for-profit health system, operates four hospitals on five campuses.  — Hayden Spiess

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AUSTIN, TEXAS — San Antonio-based multifamily owner-operator EMBREY has broken ground on Flats at The Hatchery (formerly known as The Hatchery), a 344-unit lakefront apartment community located just east of downtown Austin. Designed by San Antonio-based Lake | Flato Architects and Dallas-based GFF, the property will be situated on a 3.1-acre site and will offer studio, one- and two-bedroom units. Amenities will include a rooftop pool and clubhouse, fitness center, a residential lounge with coworking space, game room, grab-and-go market, central courtyard and outdoor kitchens and gaming lawns. Frost Bank is financing construction of the project, the first units of which are expected to be available by the third quarter of 2027. Full completion is slated for mid-2028.

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NEW ORLEANS — The Feil Organization plans to deliver a new Trader Joe’s grocery store at 2501 Tulane Ave. in New Orleans. The new 13,368-square-foot store will be the first location in New Orleans for the Monrovia, Calif.-based specialty grocer. Feil began assembling sites along Tulane Avenue in 2016 and executed the lease with Trader Joe’s in 2023. Colette Wharton and Katina Spera represented Feil internally in the lease negotiations, and Rich Lobkowicz of District Real Estate Advisors and Chris Ross of NAI Latter & Blum (now NAI Rampart) represented Trader Joe’s. The design-build team includes Sherman Strategies, SCNZ Architects and Landis Construction. Metairie Bank provided an undisclosed amount of construction financing for the project. The new Trader Joe’s is set to this summer, according to NOLA.com.

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The-Marq-Teaneck

TEANECK, N.J. — Locally based firm Malas Development will build a 248-unit apartment complex in the Northern New Jersey community of Teaneck. The project represents Phase II of The Marq, the first phase of which comprised 256 units that are now 80 percent occupied. Designed by CPA Architecture, the second phase will offer studio, one-, two- and three-bedroom apartments and amenities such as a sauna and massage rooms, coworking areas, a sport simulator, landscaped courtyard with a pool and a rooftop terrace. Completion is slated for the fourth quarter of 2026.

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GROTON, MASS. — Gilbane Building Co. has completed the Florence Roche Elementary School in Groton, located northwest of Boston. The 110,000-square-foot academic facility serves 645 students in grades kindergarten through fourth and features a dedicated project area that offers opportunities for breakout spaces and a zone for non-classroom-based activities. In addition, the school features a media center, STEM lab with an outdoor patio, spaces for music and art and a theater area, as well as advanced security and energy-efficient utility systems.

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TerraLane-Hudson-Station-Queen-Creek-AZ

QUEEN CREEK, ARIZ. — TerraLane Communities, the build-to-rent (BTR) division of residential investment firm IHP Capital Partners, has acquired 22 acres in Queen Creek, about 44 miles southeast of Phoenix, for the development of TerraLane at Hudson Station. TerraLane is partnering with general contractor Hancock Builders in the construction of TerraLane at Hudson Station. This will be the sixth residential development the two firms are completing together. Mark-Taylor Residential will oversee leasing and property management. Western Alliance Bank and 400 Capital Management are providing financing for the project. Construction has commenced, and leasing is anticipated to begin in 2027. The BTR community will include 218 units. Twenty-four of the units will be single-story, two-bedroom duplexes; 97 will be three-bedroom townhomes; and the remaining 97 will be four-bedroom townhomes. Each home will feature a two-car, direct-access garage, stainless steel appliances and integrated smart home technology, such as keyless entry, remote thermostat controls and fiberoptic cabling to support future connectivity needs. Community amenities will include a gated entrance, pool and hot tub, fitness center, grass park, shaded playground, grilling stations, valet trash service and on-site maintenance. Wi-Fi will be available throughout common areas, and all homes will be pet-friendly with built-in dog …

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BROOMFIELD, COLO. — Ryan Cos. and PGIM Real Estate, the $206 billion real estate investment and financing arm of Prudential Financial, on behalf of of its U.S. core-plus investment strategy, have completed Northwest Commerce Center in Broomfield. Situated within Verve Innovation Park and adjacent to Rocky Mountain Metropolitan Airport, the Class A industrial project offers more than 343,000 square feet spread across two buildings. Each building features a clear height of 32 feet, LED lighting, an ESFR sprinkler system and heavy power with 4000-amp electrical service. The project also includes 68 dock doors and 22 trailer parking stalls. Ryan Cos. built and developed the property. Carmon Hicks, Patrick McGettigan and Jason White of JLL have been retained to market and lease the project.

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BOZEMAN, MONT. — Clarion Partners and Wentworth Property Co. will develop Highmark, a townhome and apartment community in Bozeman. Situated on 8 acres in a Qualified Opportunity Zone (QOZ) in the South University District master-planned neighborhood, Highmark will feature 162 units. Completion is slated for late 2025, with leasing scheduled to begin in April. Highmark will offer a variety of units ranging from single-bedroom apartments to three-story townhomes with 10-foot ceilings, modern kitchens with quartz countertops and stainless steel appliances, wood-vinyl flooring, ample storage, full-size washers/dryers and individual yards and balconies for the townhomes. Community amenities will include a clubroom, fitness center, package locker room, outdoor gathering area, hot tub, dog park, pet spa and more than 300 parking spaces.

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