Development

JLL Debuts 26,000 SF Flex Coworking Space at Cummins Station in Downtown Nashville

by John Nelson August 16, 2022

NASHVILLE, TENN. — JLL has opened a 26,000-square-foot flex office and coworking space on the top floor of Cummins Station, a mixed-use adaptive reuse development located at 209 10th Ave. S in downtown Nashville. Named prosprCS, the space features private offices, coworking space, meeting rooms, team suites and virtual offices. The space comes equipped with ergonomic furniture, Tier 1 fiber broadband internet access, interactive client portals to book meeting rooms digitally, an onsite hospitality team and in-place audio-visual equipment. JLL is leading the leasing and management operations of prosprCS. Developed and managed DZL Management, Cummins Station spans more than 400,000 square feet and features the Gibson Guitar U.S. headquarters, the Gibson Garage flagship retail store, Smart USA Co., Revive and Outback Presents.

August 16, 2022

Development Industrial Massachusetts Northeast

Dacon Completes 97,000 SF Industrial Expansion Project in Lawrence, Massachusetts

by Taylor Williams August 16, 2022

LAWRENCE, MASS. — Locally based design-build firm Dacon Corp. has completed a 97,000-square-foot industrial expansion project in Lawrence, a northern suburb of Boston, for commercial linen and uniform service provider Unitex. The project represents the second phase of Unitex’s redevelopment of the former headquarters of global food and beverage manufacturer Crown Holdings into a facility with laundry processing and office space. The first phase of the project comprised 90,000 square feet.

August 16, 2022

Arizona Development Loans Multifamily Western

JLL Arranges $49.4M Construction Loan for Flagstaff Elkwood Multifamily Development in Arizona

by Amy Works August 16, 2022

FLAGSTAFF, ARIZ. — JLL Capital Markets has arranged $49.4 million in construction financing for the development of Flagstaff Elkwood, an apartment community in Flagstaff. Brad Miner and Eric Tupler of JLL Capital Markets secured the 65 percent loan-to-cost-ratio loan with a commercial bank for the borrower, Wexford Development. Slated for completion in late 2024, Flagstaff Elkwood will feature 224 apartments in a mix of studio, one- and two-bedroom layouts spread across four four-story residential buildings. Units will offer stainless steel appliances, quartz countertops, wood-style flooring and in-unit washers/dryers. On-site amenities will include a 4,000-square-foot leasing center, 6,000 square feet of retail space, a clubhouse with lounge area, fitness center, pool, spa and grilling area. The community will be situated on 13.5 acres at the northeast corner of East Butler Avenue and N. Fourth Street, three miles from downtown Flagstaff and Northern Arizona University.

August 16, 2022

California Development Industrial Western

REDA, Clarion, ECM Management Break Ground on 210,355 SF Almond Commerce Center in Fontana, California

by Amy Works August 16, 2022

FONTANA, CALIF. — A collaboration between Real Estate Development Associates (REDA), Clarion Partners and ECM Management has broken ground on I-10 Almond Commerce Center, a warehouse facility in Fontana. Premier Design + Build Group is constructing the ground-up project. The 210,355-square-foot warehouse will feature 36-foot clear heights, eight-inch reinforced concrete slab and a four-ply built-up roof system, as well as an ESFR sprinkler system and 2,000 GMP fire pump. The facility will also offer an office area with mezzanine space and parking for 101 vehicles and 32 trailers. HPA is serving as architect for the project, which is slated for completion in May 2023. Thienes Engineering and Darin Fong and Associates are providing engineering services for the property.

August 16, 2022

Development Midwest North Dakota Retail

Kraus-Anderson Completes Scheels Store at Dakota Square Mall in North Dakota

by Kristin Harlow August 16, 2022

MINOT, N.D. — Kraus-Anderson has completed construction of a 110,000-square-foot Scheels store at Dakota Square Mall in Minot. Designed by R.L. Engrebretson Architecture, the $20.6 million project involved the remodeling of an 85,000-square-foot former Sears store combined with a 25,000-square-foot space for a conference room, classroom and offices. The store offers a selection of sports gear, clothing and shoes. Shoppers can also enjoy Ginna’s Café, which serves soups, sandwiches and coffee, and Fuzziwig’s Candy Factory, which sells homemade fudge.

August 16, 2022

Development Hospitality Oklahoma Texas

Lambert Nears Completion of 92-Room NOUN Hotel in Norman, Oklahoma

by Taylor Williams August 15, 2022

NORMAN, OKLA. — Hospitality development and management firm Lambert is nearing completion of the NOUN Hotel, a 92-room boutique hotel located near the University of Oklahoma’s campus in Norman. The grand opening is scheduled for Thursday, Sept. 22. The four-story hotel, which will include two suites, will offer multiple food and beverage establishments and 3,900 square feet of meeting and event space.

August 15, 2022

Development Loans Multifamily New Jersey Northeast

JLL Arranges $47M Construction Loan for Southern New Jersey Multifamily Project

by Taylor Williams August 15, 2022

BURLINGTON COUNTY, N.J. — JLL has arranged a $47 million construction loan for an undisclosed, 300-unit multifamily project that will be located in Southern New Jersey’s Burlington County. The community will offer one-, two- and three-bedroom units with an average size of 971 square feet. Amenities will include a pool, fitness center, business center, courtyard lounge, dog park, grilling stations and walking trails. Matthew Pizzolato, Michael Klein and Salvatore Buzzerio of JLL arranged the three-year, floating-rate loan through Wells Fargo on behalf of the undisclosed borrower. Completion is slated for the second quarter of 2024.

August 15, 2022

Affordable Housing Development Multifamily New York Northeast Seniors Housing

Catholic Charities Opens 135-Unit Affordable Seniors Housing Community in Brooklyn

by Taylor Williams August 15, 2022

NEW YORK CITY — Catholic Charities of Brooklyn & Queens has opened the doors on Pope Francis Apartments of Loreto, a 135-unit affordable seniors housing community in the Brownsville neighborhood of Brooklyn. Designed by RKTB Architects, the development replaces a former Catholic church that closed in 2009. The new residence meets Enterprise Green Communities Criteria, a comprehensive green building framework specifically for affordable housing. The design and development team previously completed the adjacent Monsignor Anthony J. Baretta Apartments, which is considered Phase I of a larger set of redevelopment plans.

August 15, 2022

Acquisitions Data Centers Development Georgia Southeast

QTS Buys 615 Acres in Fayetteville, Georgia for ‘World’s Largest Multi-Tenant Data Center Campus’

by John Nelson August 15, 2022

FAYETTEVILLE, GA. — Quality Technology Services (QTS), a data center owner and operator, has acquired 615 acres in Fayetteville, about 25 miles south of Atlanta. The Overland Park, Kan.-based firm plans to develop the world’s largest multi-data center campus on the site, according to CBRE. The square footage and construction timeline for the campus were not released. Tim Huffman and Mike Lash of CBRE represented the seller, the Fayette County Development Authority, in the deal. The duo also procured QTS, which acquired the assemblage for $153.8 million, or approximately $250,000 per acre. Atlanta’s data center market has seen strong demand as the market recorded a vacancy rate of 3.6 percent as of second-quarter 2022, according to CBRE research. The market is currently home to 249.5 megawatts (MW) of data center capacity, a 71.7-MW increase from the first half of 2021.

August 15, 2022

Development Florida Multifamily Southeast

Partnership to Develop $120M Apartment Community in Cape Coral, Florida

by John Nelson August 12, 2022

CAPE CORAL, FLA. — A partnership between Shoreham Capital, Bridge Investment Group and Wynkoop Financial has purchased 26 acres in the southwest Florida city of Cape Coral for the development of a $120 million apartment community. Named Siesta Lakes, the 412-unit property will include one-, two- and three-bedroom floor plans with private balconies, open living areas and high-end finishes. Community amenities will include a gym, pool, dog park, pickleball courts and a business center. The co-developers plan to break ground in the fourth quarter.

August 12, 2022

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