Development

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

Development Industrial Texas

ExxonMobil Begins $2B Expansion of Petrochemical Refinery in Beaumont, Texas

by Taylor Williams March 22, 2023

BEAUMONT, TEXAS — ExxonMobil has begun the $2 billion expansion of its petrochemical refinery in the East Texas city of Beaumont. The initiative was launched in 2019 but subsequently paused and delayed due to COVID-19. The plant was originally built in 1903 along the banks of the Neches River and has grown to encompass more than 2,700 acres and include manufacturing and packaging operations that employ more than 2,000 people on a daily basis. The Beaumont refinery processes some 366,000 barrels of crude oil per day, and the company expects that the expansion will increase that figure by an additional 250,000 barrels per day.

March 22, 2023

Development Multifamily New Jersey Northeast

Hampshire Cos. Completes 85-Unit Apartment Complex in Morristown, New Jersey

by Taylor Williams March 22, 2023

MORRISTOWN, N.J. — Locally based developer The Hampshire Cos. has completed Max on Morris, an 85-unit apartment complex in the Northern New Jersey community of Morristown. The property offers studio, one- and two-bedroom units and amenities such as an entertainment lounge, coworking spaces and work pods and outdoor grilling and dining areas. Max on Morris also houses 610 square feet of retail space. Rents start in the $2,300s for a studio apartment.

March 22, 2023

Development Multifamily New Jersey Northeast Seniors Housing

Sunrise Opens 86,000 SF Seniors Housing Community in Livingston, New Jersey

by Taylor Williams March 22, 2023

LIVINGSTON, N.J. — Sunrise Senior Living has opened an 86,000-square-foot community in Livingston, approximately 20 miles west of Manhattan. Sunrise of Livingston provides assisted living and memory care services. Although the number of units was not disclosed, Sunrise said the property can serve more than 120 residents. Lantz-Boggio Architects designed the property, which Wohlsen Construction Co. built.

March 22, 2023

Development Michigan Midwest Multifamily

Bedrock Begins Pre-Leasing $300M Book Tower Redevelopment Project in Downtown Detroit

by Kristin Harlow March 22, 2023

DETROIT — Bedrock has begun pre-leasing the Book Tower in downtown Detroit. The seven-year, $300 million redevelopment project is nearing completion. The 500,000-square-foot, 38-story building has been converted into 220 apartment units, 117 ROOST apartment hotel units and 52,000 square feet of retail, office and dining space. Located at 1265 Washington Blvd., Book Tower will also offer coworking, meeting and event space. Originally built in 1926 by the Book Brothers, Book Tower was the tallest building in Detroit at the time of completion. Bedrock acquired the Louis Kamper-designed, Italian Renaissance Revival-style building in 2015. The building was in a state of disrepair after sitting vacant for more than a decade. Bedrock’s project team included New York-based architecture firm ODA for architecture and interior renovation, Detroit-based Brinker/Christman for construction and Kraemer Design Group for historic preservation. Amenities include an indoor-outdoor lounge, a 3,000-square-foot coworking space, fitness center, entertaining suite and 300-space parking garage. The Rotunda is a three-story, marble-arched atrium that serves as the entrance to the property and features an original 1920s skylight. A portion of the units will be reserved as affordable housing for persons making at or below 80 percent of the area median income.

March 22, 2023

Development Florida Hospitality Southeast

Bask to Develop Eight Extended Stay America Premier Suites Hotels in Florida

by John Nelson March 22, 2023

CHICAGO — Bask Development, a Chicago-based real estate development firm, has entered into an agreement with Charlotte-based hospitality chain Extended Stay America to develop eight hotels in Florida under the Extended Stay America Premier Suites brand. The locations of the hotels weren’t disclosed but Bask says the properties will be located in “major markets.” Bask operates throughout the United States, with 30 hotels under management and an additional six under construction. Extended Stay America Premier Suites comprises both new construction as well as renovated properties with fully equipped kitchens, apartment-style layouts for working and dining, free in-room Wi-Fi, cable TV, onsite guest laundry and an enhanced breakfast offering, along with upgraded design elements including larger TVs, increased storage space and a signature bedding package. Extended Stay America currently has 36 Extended Stay America Premier Suites open and operating throughout the United States.

March 22, 2023

Data Centers Development Southeast Virginia

H5 Data Centers Breaks Ground on 255,000 SF Facility in Northern Virginia

by John Nelson March 22, 2023

ASHBURN, VA. — H5 Data Centers has broken ground on a three-story, 255,000-square-foot data center in Ashburn, a city in Northern Virginia. The Denver-based developer has begun preleasing the property, which is set for delivery in the third quarter of 2024. The data center located on Beaumeade Circle will qualify for Virginia data center sales and use tax exemption, according to H5. Ashburn is known as the data center capital of the world and houses facilities leased to Amazon, Microsoft, Google and Meta, among others.

March 22, 2023

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