ANN ARBOR, MICH. — KIRCO has completed a new innovation center and regional headquarters for Wacker Chemical Corp. in Ann Arbor. The 140,000-square-foot project sits on 18 acres at 4950 S. State Road and represents a more than $50 million investment. Wacker chemists, scientists and senior leadership that previously worked out of separate Michigan locations are now able to collaborate in a single environment. The innovation center houses labs, open workspaces, a full-service cafeteria and a fitness center.
MOBRIDGE, S.D. — The North Dakota office of Kraus-Anderson has begun a $36 million expansion and renovation of Mobridge Regional Hospital and Clinics in Mobridge, a city in South Dakota situated along the Missouri River. The campus includes a 25-bed critical access hospital, four federally certified rural health clinics, a 24-bed assisted living and seniors housing center and a rural ambulance service. The expansion project will include a new patient wing, surgery suite and ambulance garage, as well as 63,000 square feet of upgrades to the hospital’s emergency room department, surgery suite, imaging, dining area and support offices. Davis Partnership Architects is the project architect. Completion is slated for spring 2025.
CHICAGO — EQ Office, the U.S. office portfolio company wholly owned by Blackstone, has completed its more than $500 million renovation of Chicago’s Willis Tower. The 110-story tower is now certified LEED Platinum and is the largest building in the U.S. to achieve that designation, according to EQ Office. Part of the transformation is Catalog, a 300,000-square-foot retail, dining and entertainment destination at the base of the tower. The name Catalog is a nod to the Sears Roebuck Co. and its printed catalog. Designed by Gensler, Catalog features restaurants such as Tortazo by Rick Bayless, Shake Shack, Joe & the Juice, Foxtrot, Starbucks, Brown Bag Seafood Co., Do-Rite Donuts & Chicken, Sushi-San and Sweetgreen. Kindling, a two-story restaurant concept from Chicago’s 50/50 Group, as well as Urbanspace, a food hall, are both slated to open in late summer or early fall. A 30,000-square-foot outdoor terrace sits atop Catalog. The Skydeck observatory at Willis Tower also underwent a renovation through partnerships with exhibit design firms Thinc and SOM. An interactive “best of Chicago” museum-like exhibit celebrates the personality, history and neighborhoods of Chicago. Gensler designed the building’s new exterior façade at the base. SKB Architecture and Design handled the design of …
KOKOMO, IND. — Stellantis N.V. and Samsung SDI have formed a joint venture with plans to invest more than $2.5 billion to build an electric vehicle battery manufacturing plant in Kokomo, about 50 miles north of Indianapolis. The facility is expected to become operational in 2025 with an initial annual production capacity of 23 gigawatt hours. The total capacity is expected to increase further as demand for Stellantis electric vehicles is expected to rise, according to a news release. The joint venture says the project will create 1,400 new jobs in Kokomo and surrounding areas. Construction is expected to begin later this year.
WEST JEFFERSON, OHIO — Stonemont Financial Group and The Pizzuti Cos. are co-developing a 1.1 million-square-foot speculative industrial project in West Jefferson, about 18 miles west of Columbus. Stonemont will acquire the facility upon completion, which is scheduled for the end of this summer. Named West Jeff One, the Class A project sits directly off I-70. The development features 209 car parking spaces, 110 trailer parking spaces and a clear height of up to 40 feet. The project marks Atlanta-based Stonemont’s first in the Columbus area.
BAYONNE, N.J. — Locally based developer Lincoln Equities Group has broken ground on Lincoln Logistics Bayonne, a 332,640-square-foot speculative industrial project in Northern New Jersey. The facility will be situated on a 24-acre tract within a 153-acre waterfront site at which an 886,256-square-foot UPS shipping hub is currently under construction. Lincoln Logistics Bayonne will feature five acres of parking space that can support 195 trailers and 225 cars, or 45 trailers and 800 cars. Cushman & Wakefield is marketing the project for lease. Construction is expected to be complete by the end of the year.
MALDEN, MASS. — Manhattan-based DH Property Holdings will develop a 94,095-square-foot industrial facility in Malden, a northern suburb of Boston. DH Property will develop the facility, which will feature a clear height of 32 feet and parking for 197 vehicles, in a joint venture with Pugh Management. Brian Pinch, Tony Coskren, Ed Jarosz, Rick Schuhwerk, Matt Pullen, Samantha Hallowell and Jim Tribble of Newmark brokered the sale of the five-acre site on which the project will be built. Construction is scheduled to begin before the end of the month.
FORT LAUDERDALE, FLA. — Aztec Group has arranged $102 million in construction financing for Rivr Lofts in Fort Lauderdale. Located in the Tarpon River Entertainment & Design District south of New River, Rivr Lofts will be a Class A high-rise featuring 352 apartments. Square Mile Capital provided the loan to the developer, Moderno Development Group, which assembled the one-acre site in 2018 and obtained entitlements in 2021. The project team includes Moss Construction and Robert Mathias of NCC Development. The site is located at the corner of SW 5th Street and SW 3rd Avenue and is within walking distance to local shopping and entertainment. The project will span across 29 stories and feature a rooftop pool and amenities, 2,700 square feet of ground-floor retail, onsite parking and a resident lounge and bar on the ground floor.
Partnership Breaks Ground on 16.2 MSF Mixed-Use Redevelopment of Suffolk Downs Racetrack Near Boston
REVERE, MASS. — The HYM Investment Group, Cathexis and National Real Estate Advisors have broken ground on the redevelopment of the former racetrack site at Suffolk Downs in Revere, about five miles north of Boston. The project will ultimately span 16.2 million square feet of development, including 10,000 apartments and condominiums; 5.2 million square feet of life sciences and office space; 450,000 square feet of retail and civic space; and 40 acres of parks and open space. The Suffolk Downs thoroughbred racetrack opened in 1935 and was shuttered in 2019. HYM purchased the property in 2017. The 161-acre redevelopment project will connect Revere to the East Boston neighborhood. The groundbreaking marks the official launch of a joint venture partnership between HYM and National on the initial residential components of the redevelopment project. According to a news release, National’s equity participation will enable the delivery of nearly 4 million square feet of residential development (or 4,200 units) to be built at Suffolk Downs over the next eight years. The Boston Globe reports that National committed $775 million in equity financing. The first phase of construction includes a life sciences and biomanufacturing facility as well as a residential building. Named 100 Salt …
GEORGETOWN, TEXAS — Stonelake Capital Partners, a private equity firm with offices located in Texas and Atlanta, has broken ground on Georgetown Logistics Park, a 619,740-square-foot speculative industrial project that will be located on the northern outskirts of Austin. The development will consist of three buildings on a 48-acre site that is situated along the Interstate 35 corridor. The 426,240-square-foot cross-dock building will feature 40-foot clear heights and 82 trailer parking stalls. The 123,200-square-foot rear-load building will house 36-foot clear heights, and the 70,300 square-foot rear-load building will have 32-foot clear heights. Powers Brown Architecture is designing the project, and Zapalac Reed is serving as the general contractor. Pape Dawson is the civil engineer, and JLL is the leasing agent. Completion is slated for March 2023.