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Santander-Tower-Dallas
DevelopmentMultifamilyOfficeTexas

Mintwood, Woods Capital to Undertake Multifamily Conversion Project in Downtown Dallas

by Taylor Williams

DALLAS — A partnership between two locally based firm, Mintwood Real Estate and Woods Capital, will undertake a multifamily conversion project at Santander Tower in downtown Dallas. The project will redevelop multiple floors of the 1.4 million-square-foot office building at 1601 Elm St. into 228 multifamily units, including communal amenity spaces. Units will come in one- and two-bedroom floor plans, and amenities will include a pool, fitness center and other gathering and meeting spaces. Dallas-based architect WDG designed the multifamily units and indoor amenities, and Swoon provided interior design services. TBG Partners designed the exterior amenities. Adolfson & Peterson Construction is serving as the general contractor. Completion is scheduled for fall 2023.

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Port-45-Wilmer
DevelopmentIndustrialTexas

Griffin Partners Breaks Ground on 567,516 SF Port 45 Industrial Development in Metro Dallas

by Taylor Williams

WILMER, TEXAS — Griffin Partners, a Houston-based private equity real estate firm, has broken ground on Port 45, a 567,516-square-foot industrial development in the southern Dallas suburb of Wilmer. Port 45 will comprise two rear-load buildings that will sit on a 40-acre site along Interstate 45. Buildings will feature 32- to 36-foot clear heights, 130- to 135-foot truck court depths, roughly 350 tenant parking spaces and 192 trailer parking spaces. Project partners include Pacheco Koch Civil Engineering, design firm Alliance Architecture, general contractor Harvey Builders and leasing agent JLL. A tentative completion date was not disclosed.

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DevelopmentIndustrialLoansNew JerseyNortheast

Wells Fargo Provides $227M in Construction Financing for New Jersey Industrial Projects

by Taylor Williams

LINDEN AND LOGAN TOWNSHIP, N.J. — Wells Fargo has provided $227 million in construction financing for two New Jersey industrial projects. In the first deal, the San Francisco-based bank provided a $142 million loan for Phase III of Linden Logistics Center, a development in the northern part of the Garden State. Phase III will consist of two buildings totaling 849,235 square feet that are scheduled for a second-quarter 2023 completion. In the second transaction, Wells Fargo provided $85 million for the third phase of Logan North Industrial Park, a project that spans 3.2 million square feet and is located in Southern New Jersey. The two buildings comprising Phase III of Logan North Industrial Park will measure 274,200 and 475,000 square feet and are also slated for delivery in the second quarter of next year. Existing tenants at Logan North include SEKO Logistics and LaserShip Logistics. John Alascio, T.J. Sullivan and Chuck Kohaut of Cushman & Wakefield arranged the financing on behalf of the borrower and developer, a partnership between Advance Realty Investors and Greek Development.

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DevelopmentMidwestOhioRetail

Oberer Realty to Build 10,000 SF Retail Project in Centerville, Ohio

by Kristin Harlow

CENTERVILLE, OHIO — Oberer Realty Services Ltd. has unveiled plans to build the final retail portion of The Cornerstone of Centerville North in Centerville, a suburb of Dayton. The 10,000-square-foot development will be known as Shoppes at the Village of Cornerstone and will be situated adjacent to a Costco location as well as Cooper’s Hawk Restaurant & Winery. Oberer plans to break ground this fall and wrap up construction in the second quarter of 2023. The desired tenant mix will include restaurant and specialty retailers either not yet in the market or looking for expansion opportunities, according to Oberer.

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Boren-Lofts-Seattle-WA
DevelopmentLife SciencesWashingtonWestern

Oxford Properties Completes 136,000 SF Boren Lofts Office-to-Lab Conversion in Seattle

by Amy Works

SEATTLE — Oxford Properties Group has completed the conversion of the 136,000-square-foot Boren Lofts office building into Boren Labs, a life sciences facility in downtown Seattle. Located at 1930 Boren Ave. in the South Lake Union neighborhood, the building features 15,000-square-foot floor plates, pre-built lab suites and move-in-ready research and development suites. The 10-story building features nine levels of labs and support office space, ground-level retail and a newly built amenity floor, which features a shared rooftop deck and conferencing center, fostering collaboration between occupants. The converted building features 15-foot floor-to-floor heights, fully upgraded MEP systems and ample subsurface parking. Each floor also features natural light and a private deck with outdoor access. Current tenants include Icosavax, Tune Therapeutics and GentiBio.

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DevelopmentFloridaLoansMultifamilySoutheast

Newmark Arranges $64.5M Construction Loan for Advantis Station Apartments in Fort Lauderdale

by John Nelson

FORT LAUDERDALE, FLA. — Newmark has arranged a $64.5 million loan for the development of Advantis Station, a 252-unit midrise apartment community situated within Fort Lauderdale’s Flagler Village. The borrower is a joint venture between Midtown Capital Partners and Prospect Real Estate Group. Dustin Stolly, Jordan Roeschlaub, Daniel Matz, Nick Scribani, Daniel Fromm, Dan Morin and Tim Polglase of Newmark arranged the loan through Forum Real Estate Group and Bank OZK. Advantis Station will be situated on a 1.3-acre site at the intersection of NE 3rd Ave. and NE 6th Street, which is near a Brightline station and Peter Feldman Park. The property will feature studio, one-, two-, three- and four-bedroom units, as well as over 300 parking spaces and ground-floor retail space. The construction timeline was not disclosed.

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DevelopmentHospitalityLoansSoutheastTennessee

Hall Structured Finance Provides $43.1M Construction Loan for New Holiday Inn Express Hotel in Nashville

by John Nelson

NASHVILLE, TENN. — Hall Structured Finance (HSF) has provided a $43.1 million construction loan for a new eight-story hotel project in Midtown Nashville. The new Holiday Inn Express will feature 184 guest rooms, as well as an outdoor infinity-edge swimming pool, fitness center, meeting room, convenience market, breakfast area and a business center. Francisco Nacorda of Mag Mile Capital arranged the loan through HSF on behalf of the borrower, Nashville-based SiLa Developments. Triumph Hospitality will manage the Holiday Inn Express when it opens in March 2024.

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Build-to-RentDevelopmentMultifamilySingle-Family RentalTexas

RangeWater Underway on Development of 120 Build-to-Rent Homes, 325 Apartment Units in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Atlanta-based developer RangeWater Real Estate is underway on construction of 120 build-to-rent (BTR) homes and 325 apartment units in Fort Worth. Both complexes will be situated on a 23-acre site in the city’s Beechwood neighborhood. The townhome-style units of Palo, the BTR community, will come in three-bedroom formats and will include private patios. Palo will also have its own pool. Ellianna’s rental apartments will feature one-, two- and three-bedroom floor plans, and residents will have access to a separate pool, a fitness center, clubhouse, outdoor kitchen and a dog park. Construction began in June, and the first units are expected to be complete in the third quarter of 2023.

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DevelopmentIndustrialSouth CarolinaSoutheast

SunCap Breaks Ground on 1 MSF Spec Industrial Facility in Greenville

by John Nelson

GREENVILLE, S.C. — Charlotte-based SunCap Property Group has broken ground on a 1 million-square-foot spec industrial facility within Greenville Enterprise Park, a 140-acre industrial park on the south side of Greenville. SunCap purchased the land in partnership with the real estate arm of Goldman Sachs Asset Management. Located at 7755 Augusta Road near I-185, the speculative facility is expandable up to 1.5 million square feet, depending on end user requirements. The property will feature 40-foot clear heights and cross-dock orientation, as well as ample onsite employee and trailer parking. Garrett Scott, John Montgomery, Brockton Hall and Dillon Swayngim of Colliers are the leasing agents for the property. The project is SunCap’s eighth in Upstate South Carolina and the largest speculative building in Greenville County, according to Colliers.

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DevelopmentIndustrialLeasing ActivityNorth CarolinaSoutheast

Apparel Manufacturer AS Colour Signs 240,000 SF Industrial Lease in Southwest Charlotte

by John Nelson

CHARLOTTE, N.C. — AS Colour, a New Zealand-based apparel designer and manufacturer, has signed a 240,000-square-foot lease at 11109 Quality Drive in southwest Charlotte. The new facility will be the largest among AS Colour’s existing network of distribution centers in New Zealand, Australia, the UK and California, and will serve as the firm’s base of operations on the East Coast. Chris Skibinski, Henry Lobb and Colin Ferguson of Avison Young represented the landlord, Charland Partners, in the lease negotiations. Tom Tropeano, also with Avison Young, represented AS Colour.

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