LOXLEY, ALA. — Imperial Dade, a food packaging and janitorial supplies distributor based in Jersey City, N.J., has opened a new logistics hub in Loxley, a city in Alabama’s Baldwin County situated along I-10. The $20 million warehouse and office facility will support the company’s growing customer base in the Gulf Coast and create 55 new jobs. The Class A facility is situated on 29 acres and features a concrete tilt-wall construction. Zach Plevritis and Mary Mozejko led Imperial Dade’s integration team internally and worked with city and county officials for the project.
NEW BRAUNFELS, TEXAS — Florida-based developer The Bainbridge Cos. has acquired 14 acres in the northeastern San Antonio suburb of New Braunfels for the construction of a 291-unit multifamily project named Bainbridge Creekside. The garden-style community will offer one- and two-bedroom units ranging in size from 838 to 1,094 square feet. Amenities will include a pool, fitness center, outdoor grilling and dining areas, clubhouse with gaming and lounging areas, a cybercafé, teleworking offices and a pet park. A construction timeline has not yet been finalized.
JERSEY CITY, N.J. — Columbia Property Trust has completed the redevelopment of 95 Columbus, a 680,000-square-foot office building in Jersey City. The project centered on the revamping of the lobby to allow more natural light and provide more efficient seating and meeting areas. Columbia Property Trust also augmented the landscaping at the building’s entrance and upgraded the lobby’s windows and flooring, among other features. The developer also modernized various building systems to promote health and wellness, including the installation of touchless doors, bipolar ionization air filtration and destination dispatch elevators. Lastly, Columbia added a bike storage room, additional shower facilities and a 500-space attached garage. Cushman & Wakefield is leasing the building post-renovation.
WALTHAM, MASS. — Hobbs Brook Real Estate has delivered 225 Wyman, a 507,000-square-foot office and life sciences project located in the western Boston suburb of Waltham. The five-story building sits on a six-acre site and features 43,500 square feet of indoor amenity space, as well as outdoor event space. In addition, 225 Wyman offers an onsite parking garage with a covered walkway connector. The property was 96 percent leased at the time of its opening to tenants such as Seqirus, ElevateBio BaseCamp and Pegasystems.
WILMINGTON, MASS. — Middlesex Savings Bank has provided a $39.1 million construction loan for a 214,440-square-foot industrial project in Wilmington, a northern suburb of Boston. The two-building development is scheduled for a January 2023 completion and will feature a clear height of 32 feet, ESFR sprinkler systems and ample car and trailer parking. Brett Paulsrud and Jonathan Schneider of JLL, working with Middlesex’s Nick Giberson, arranged the loan on behalf of the borrower, Boston-based Davis Cos.
ROCKLIN, CALIF. — Roseville-based USA Properties Fund has started construction of Terracina at Whitney Ranch, an affordable multifamily property in Rocklin. Completion is slated for late 2024. Situated between University Avenue and Wildcat Boulevard, Terracina at Whitney Ranch will feature 288 apartments in a mix of one-, two- and three-bedroom layouts. Units will offer energy-efficient appliances, light fixtures and ceiling fans, as well as low-flow faucets, showers and toilets. One-bedroom apartment rents are projected to be $515 to $1,275 per month, while two-bedroom apartments will lease for $606 to $1,518 per month and three-bedroom units will rent for $687 and $1,741 per month. Community amenities will include a 4,000-square-foot clubhouse with a community room and fitness room, a swimming pool, courtyard with seating, a tot-lot play area and laundry facilities.
CHESTERFIELD, VA. — Danish toymaker LEGO Group has released plans for a 1.7 million-square-foot factory in Chesterfield, a southern suburb of Richmond. Over the course of 10 years, LEGO estimates it will invest $1 billion in the project and generate 1,760 jobs. Located on 340 acres, the project also includes a solar park that will produce 100 percent of the factory’s energy needs. Construction is scheduled to begin this fall, with full production beginning in 2025. The property will be LEGO’s seventh factory worldwide, its second in North America and its first in the United States. LEGO factories in Europe and China are also being expanded, and in December 2021, the privately held toymaker announced plans to build a factory in Vietnam to support further growth in Asia. The industrial expansion is part of the company’s goal to shorten supply chains and reduce its carbon footprint. The project is also designed to meet LEED Gold standards. “More and more families are falling in love with LEGO building, and we are looking forward to making LEGO bricks in the United States, one of our largest markets,” says Niels Christiansen, CEO of LEGO Group. “The location in Virginia allows us to build …
CHARLOTTE, N.C. — JLL has arranged debt and equity construction financing totaling $93.2 million for the second phase of development of The Joinery, a multifamily project in Charlotte’s Mill District. Travis Anderson, Cory Fowler, Warren Johnson and Ryan Pride of JLL arranged the financing on behalf of the borrowers, Charlotte-based Space Craft and California-based Swinerton. The financing package included $28 million in equity that was raised from 480 individual investors on CrowdStreet and a $65.2 million loan from Benefit Street Partners. Set to open in 2023 at 1816 N. Brevard St. and 420 E. 22nd St., the two-building development will feature 361 one-, two- and three-bedroom apartments, as well as 17,384 square feet of ground-floor retail space and amenities including a rooftop patio and fitness centers in both buildings. Phase I of The Joinery opened earlier this year.
WASHINGTON, D.C. — Electra America Hospitality Group, a joint venture between investment firm Electra America and extended stay hotelier AKA, has purchased One Washington Circle, a 152-room hotel in Washington, D.C. George Washington University (GWU) sold the hotel to the buyer for an undisclosed price. Savills USA represented GWU in the transaction. The new ownership plans to undertake a $30 million renovation to the asset and reopen in June 2023 as an AKA-branded development that specializes in weekly and monthly stays. Built in 1964 and renovated in 2003, the nine-story hotel is situated in D.C.’s West End neighborhood near GWU’s main campus, George Washington University Hospital, Foggy Bottom Metro Station and major institutions including World Bank and IMF.
JACKSONVILLE, FLA. — Growth Capital Partners (GCP), an industrial real estate developer and owner based in Birmingham, plans to develop a 237,500-square-foot industrial facility near JAXPORT (Jacksonville Port Authority). GCP recently purchased a 37.8-acre site on Alta Drive near JAXPORT’s Blount Island and Dames Point terminals with plans to break ground in July on the project. Dubbed Port Commerce Center, the front-load, concrete tilt-wall project will feature 32-foot clear heights, a 130-foot truck court and land for trailer storage. GCP has tapped Bryan Bartlett of Newmark to lease the property. Newmark also represented the land seller, an entity doing business as Alta Jacksonville Holdings, in the transaction. Birmingham-based Vardaman Construction LLC is the general contractor of Port Commerce Center, which is GCP’s fourth industrial project underway. The developer is also building industrial facilities in Texas and Tennessee.