Development

Monday Night Brewing to Open Taproom at Kern’s Bakery Mixed-Use Development in Knoxville

by John Nelson April 24, 2023

KNOXVILLE, TENN. — Atlanta-based brewery Monday Night Brewing will open a taproom within Kern’s Bakery Food Hall at Kern’s Bakery, a 16-acre mixed-use development currently underway in Knoxville. The taproom, which will mark Monday Night’s sixth location and second in Tennessee, will comprise 3,000 square feet with access to a patio and the 7,000-square-foot event lawn. Monday Night will also manage the primary bar for the food hall, two separate rooftop patio bars and a smaller bar near the interior performance stage. The food hall comprises the second phase of Four Stones Real Estate’s project, the first phase of which consists of a 310-unit apartment community called Flagship Kerns that opened last year.

April 24, 2023

Affordable Housing California Development Multifamily Western

EAH Housing Begins Construction of 76-Unit Mission Paradise Affordable Community in Hayward, California

by Jeff Shaw April 24, 2023

HAYWARD, CALIF. — EAH Housing has broken ground on Mission Paradise, an affordable seniors housing community in the Bay Area city of Hayward. DAHLIN Group designed the property, which J.H. Fitzmaurice Inc. is building. The two-tower Mission Paradise is an apartment community for seniors with income levels ranging from 20 percent to 80 percent of the area median income (AMI). The property will include a total of 76 apartments, with 15 units specifically reserved for formerly homeless individuals and families, 11 of which are designated ‘No Place Like Home’ units reserved for households with an individual with a severe mental illness. Financing participants include Chase, City of Hayward, County of Alameda, CA Department of Housing and Community Development – Accelerator, and MHP.

April 24, 2023

Development Illinois Midwest Office

Skender Completes 81,000 SF Office Headquarters Build-out for Avant at Chicago’s Merchandise Mart

by Kristin Harlow April 24, 2023

CHICAGO — Skender has completed an 81,000-square-foot office headquarters build-out for Avant at the Merchandise Mart in Chicago. The financial technology company’s new office features open workstations, multiple cafes and a mix of collaboration, conferencing andfocus spaces. The new workspace doubles Avant’s presence in Chicago. The firm relocated from 222 N. LaSalle St. The project team included CBRE as tenant representative, Gensler as architect and Syska Hennessy Group as engineer. Skender is currently working with Merchandise Mart owner Vornado Realty Trust on a repositioning initiative for the property.

April 24, 2023

Development Illinois Midwest Office

Krusinski Renovates Comcast Office in Oak Brook, Illinois

by Kristin Harlow April 24, 2023

OAK BROOK, ILL. — Krusinski Construction has completed a renovation of Comcast’s office in the Chicago suburb of Oak Brook. The renovated space features new carpeting, quartz countertops, multiple offices, conference rooms and a wellness area. The office also features technology that reduces energy consumption, such as wireless lighting controls and occupancy sensors. Krusinski also implemented new security features.

April 24, 2023

Development Industrial North Carolina Southeast

Frampton Construction Breaks Ground on 223,375 SF Industrial Facility in Ayden, North Carolina

by John Nelson April 21, 2023

AYDEN, N.C. — Frampton Construction Co. has broken ground on a build-to-suit industrial project for Pepsi-Cola franchiser Minges Bottling Group in Ayden. Upon completion, the facility will total 223,375 square feet and include warehouse space, a vending repair area, three-bay fleet maintenance shop and more than 20,000 square feet of office space. The rear-load building will feature 32-foot clear heights, 24 dock doors and 10 drive-in doors. Charlotte-based The Keith Corp. is developing the project, with Thomas & Hutton acting as the civil engineer and McMillan Pazdan Smith serving as architect. Completion of the facility is scheduled for January of next year.

April 21, 2023

Development Office Southeast Tennessee

Tricera Capital, Merrimac Ventures Complete Renovation of L&C Office Tower in Downtown Nashville

by John Nelson April 21, 2023

NASHVILLE, TENN. — Tricera Capital and Merrimac Ventures have completed the renovation of L&C Tower, a 31-story office property located at 401 Church St. in downtown Nashville. Upgrades to the building, which was originally constructed in the 1950s and acquired by the partnership last year, included the creation of speculative suites and improvements to common areas. Tenants at the tower include Warby Parker, Drive Social Media, Motiv, Castlerock Asset Management, Deacons New South and Ophelia’s Lounge. Doug Ryan and Melanie Tigrett of Colliers handle leasing at the property.

April 21, 2023

Build-to-Rent Development Single-Family Rental Texas

Embrey to Develop 214-Unit Build-to-Rent Residential Community in Boerne, Texas

by Taylor Williams April 21, 2023

BOERNE, TEXAS — Locally based developer Embrey will build a 214-unit build-to-rent residential community in Boerne, a northwestern suburb of San Antonio. The site spans 27.5 acres at 1670 State Highway 46. Homes will have an average size of 1,100 square feet, and amenities will include a pool, fitness center, clubhouse and outdoor grilling and dining areas, as well as multiple dog parks, sitting areas and walking trails. Russell Noll of Transwestern represented the undisclosed seller in the land deal. Construction is set to begin in June, and the first units are expected to be delivered in summer 2024.

April 21, 2023

Development Multifamily New York Northeast

Douglaston Development Nears Completion of 938-Unit Multifamily Project in Manhattan

by Taylor Williams April 21, 2023

NEW YORK CITY — New York City-based Douglaston Development is nearing completion of 3Eleven, a 938-unit multifamily project located at 311 Eleventh Ave. in Manhattan’s West Chelsea neighborhood. The 60-story building houses 703 market-rate apartments and 235 affordable housing units, as well as 60,000 square feet of indoor and outdoor amenity space and 15,000 square feet of retail space. Units come in studio, one- and two-bedroom formats and are furnished with stainless steel appliances and individual washers and dryers. Amenities include an outdoor pool, multiple roof decks, a fitness center, children’s play area, multiple resident lounges, music studios and indoor and outdoor dog runs. Rents start at roughly $4,200 per month for a studio apartment.

April 21, 2023

Acquisitions Development Illinois Industrial Midwest

Brennan Acquires 485,000 SF Office Building in Suburban Chicago, Plans Industrial Redevelopment

by Kristin Harlow April 21, 2023

ROLLING MEADOWS, ILL. — Brennan Investment Group has acquired a 485,000-square-foot office building located at 3800 Golf Road in the Chicago suburb of Rolling Meadows. Brennan plans to demolish the building and construct a new Class A industrial park to be named Rolling Meadows Commerce Center, or RMC². The development will consist of 600,000 square feet of industrial space and landscaped grounds. Target users will include manufacturers, distributors and data centers. The project is still in the early stages with no specific construction timeline, but Brennan expects to complete the project in the next few years.

April 21, 2023

Acquisitions Connecticut Development Industrial Northeast

Angel Commercial Negotiates $7.2M Sale of Industrial Development Site in Stratford, Connecticut

by Taylor Williams April 21, 2023

STRATFORD, CONN. — Locally based brokerage firm Angel Commercial has negotiated the $7.2 million sale of two adjacent development sites at 1255 and 1297 West Broad Street in Stratford, located in southern Connecticut’s Fairfield County. The lots are part of a 14-acre assemblage that is zoned and approved for the construction of a 231,000-square-foot industrial facility that will feature clear heights of 36 to 39 feet, two drive-in doors and 232 parking spaces. Boston-based GFI Partners purchased the land and is developing the facility. Jon Angel of Angel Commercial brokered the land deal, the seller in which was not disclosed. Construction is slated for a second-quarter 2024 completion.

April 21, 2023

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