FRANKLIN, KY. — LioChem e-Materials LLC, a subsidiary of Toyo Ink SC Holdings Co. Ltd., will develop a new speculative manufacturing facility at 310 Ronnie Clark Drive in Franklin’s Interstate Industrial Park. Hal Johnson, Jamie Newell and Tak O’Haru of NAI Ready represented LioChem in the site selection and purchase of 26 acres for the project. The facility, which is projected to create 141 jobs, will produce carbon nanotube (CNT) dispersions — the cathode conductive material used to enhance the performance of lithium-ion batteries — for use in electric vehicles.
MIDLOTHIAN, VA. — Northmarq has arranged a $38.1 million construction loan for the development of Lake Forest at Swift Creek, a 176-unit seniors housing project at 5950 Harbour Lane in Midlothian, roughly 15 miles outside of Richmond. The borrower, The Holladay Corp., is developing the community, which will comprise one building on 11.7 acres that is designed for active adults ages 55 and older. Keith Wells, Hunter Wood, Reina Abboud and Mike Lowry of Northmarq’s Richmond office secured the financing through Sandy Spring Bank. Delivery is scheduled for 2024.
NEW YORK CITY — Wells Fargo has provided $288 million in financing for North Cove, a 611-unit affordable housing project in Manhattan’s Inwood neighborhood. The financing includes $155 million in debt that backs city-issued, tax-exempt bonds, as well as $133 million in equity that was generated through the purchase of tax credits. The borrower and developer is a partnership between Joy Construction Corp. and Maddd Equities. Units will be restricted to households earning between 27 and 110 percent of the area median income, and roughly 15 percent (94) of the residences will be reserved for formerly homeless residents. The development will include 60,000 square feet of commercial space and offer amenities such as outdoor picnic areas, community recreation rooms and various supportive services. Lastly, as part of the project, the city has donated an adjacent parcel for the construction of a waterfront park.
DENVER — Confluent Development has completed Vectra Bank Corporate Center, a nine-story office building within Belleview Station in Denver. The 127,000-square-foot building brings together more than 200 employees from across the Denver metro area to serve Vectra Bank customers and facilitate the bank’s future growth. Vectra Bank Corporate Center features floors of office space and parking; a 4,300-square-foot conference center for employee training and hosting public events; and one floor of commercial retail space, including a Vectra Bank branch. Other features at the building include eight electric vehicle charging stations, bicycle storage, a greenspace with a large open-air patio on the sixth floor, café, grand fireplace and a lobby on the ninth floor. The project team included Open Studio Architectures, Weitz Co. and Provident Construction, as well as in-house entitlement experts at Confluent.
CHARLOTTE, N.C. — The NRP Group has broken ground on South Tryon, a multifamily development located at 3310 S. Tryon St. in Charlotte’s South End. Totaling five stories, the apartment community will comprise 310 units in one-, two- and three-bedroom layouts. Amenities at the property will include a fitness center, coworking space, indoor bike room, club room and social area, dog wash and park, a pool, courtyards and an outdoor cooking and dining area. Delivery of the project is scheduled for 2025. Canyon Partners Real Estate provided an equity investment in conjunction with a senior construction loan from CIBC Bank USA to finance the project.
HOLLY SPRINGS, N.C. — Crescent Communities and Nuveen Real Estate have broken ground on the second phase of THE YIELD, a speculative biomanufacturing development in Holly Springs, roughly 20 miles southwest of Raleigh. This phase will comprise three shell-ready, cGMP (Current Good Manufacturing Practice) biomanufacturing buildings totaling 322,000 square feet. The first two buildings are scheduled for completion in late 2023, with the third delivery expected in spring 2024. Including the first phase, which was sold to Apollo Global Real Estate and GeneSuites and is now known as Catalyst BioCampus, the development will total 2 million square feet of biomanufacturing, office/lab and retail space.
OCALA, FLA. — MDH Partners has completed construction on Ocala Logistics Center, a 350,878-square-foot speculative distribution facility situated on 27.9 acres in Ocala. Located at the corner of Northwest 35th Street and Northwest 27th Avenue, the property features 196 parking spaces, 96 trailer drops, ESFR sprinkler systems and 36-foot clear heights. The building allows for single or multi-tenant occupancy and includes 2,759 square feet of office space, LED warehouse lighting and six dock levelers. Peak Development Co. served as development manager on the project, and Avison Young is handling leasing on behalf of MDH Partners.
GLENDORA, CALIF. — Clearwater Living has opened Clearwater at Glendora, a 117-unit assisted living and memory care community in Glendora. The property is a two-story, 117,000-square-foot property offering 88 assisted living and 29 memory support apartments with studio, companion, one- and two-bedroom layouts. It is the only assisted living and memory care community in Glendora, according to the developer. Clearwater at Glendora is the company’s 10th seniors housing community in California, Arizona and Nevada, with plans for additional developments in the pipeline.
SEABROOK, TEXAS — Transwestern Development Co. (TDC) has completed Bayport 146 Distribution Center, a 454,600-square-foot industrial project in Seabrook, about 30 miles southeast of Houston. The site is adjacent to Port Houston’s Bayport Container Terminal. Bayport 146 Distribution Center, which can accommodate a single or multiple tenants, features 36-foot clear heights, 150- to 180-foot truck court aprons and parking for up to 74 trailers. Construction began in April 2022. Transwestern is also marketing the facility for lease on behalf of its developer affiliate.
BOISE, IDAHO — Hawkins Cos. has obtained $56 million in construction financing for the development of Canyon Ridge, a five-building apartment property in Boise. Sunwest Bank provided the financing. Canyon Ridge will offer 287 apartments, a resort-style outdoor pool, dog park, two playgrounds, a 6,000-square-foot clubhouse, coworking lab, covered barbecue with indoor/outdoor fireplace, fitness center and other common areas. Preleasing is scheduled to begin in spring 2024, with completion slated for May 2025. Dave Karson, Chris Moyer, Paul Roeter and Meredith Donovan of Cushman & Wakefield’s equity, debt and structured finance team represented Boise-based Hawkins Cos. in the transaction.