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Development

Renaissance-Logitsics-Center-Rialto-CA
AcquisitionsCaliforniaDevelopmentIndustrialWestern

Lovett Industrial Acquires Land in Inland Empire for 114,115 SF Industrial Development

by Amy Works

RIALTO, CALIF. — Houston-based Lovett Industrial has closed on a six-acre parcel in Rialto with plans to develop Renaissance Logistics Center on the site, which is directly on I-210. Construction for the 114,115-square-foot, front-load industrial facility is scheduled to commence in January, with completion slated for September 2023. The building will feature efficient ingress and egress to the adjacent freeway interchange, 36-foot clear heights, a 7-inch reinforced concrete slab, 90 auto stalls, skylights and speculative office space with mezzanine space. HPA is serving as architect, and Westland Engineering is serving as civil engineer of the development. Bill Heim and Alex Heim of Lee & Associates Ontario, Calif., will handle marketing and leasing of the project.

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Data CentersDevelopmentIllinoisIndustrialMidwest

Metro Edge Development Partners to Build $257M Data Center in Illinois Medical District

by Kristin Harlow

CHICAGO — Metro Edge Development Partners has unveiled plans to build a $257 million data center within the Illinois Medical District (IMD) in Chicago. Construction is scheduled to begin in 2023 and be completed in 2024. Metro Edge secured a 75-year ground lease on a nearly two-acre parcel owned by IMD. The data center will rise five stories and span 184,720 square feet. The facility is 50 percent preleased. Corgan is the project architect. Clune Construction is overseeing all construction in partnership with Power Construction and Ujamaa Construction. T5 Data Centers is the project manager.

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DevelopmentIllinoisIndustrialMidwest

Industrial Outdoor Ventures to Develop Two Industrial Service Facilities in Zion, Illinois

by Kristin Harlow

ZION, ILL. — Industrial Outdoor Ventures (IOV) has acquired two parcels totaling 56 acres in Zion, a city in northeast Illinois near the Wisconsin border. Named Trumpet Park Spec Development, the project will consist of a pair of industrial service facilities (ISFs). Project costs are estimated at $35 million. The development will feature up to 1,200 truck trailer parking spaces and more than 26,000 square feet of maintenance and service buildings. ISFs provide supply chain infrastructure solutions to industries such as transportation, bulk material distribution, last-mile logistics, heavy equipment and utilities. The project marks IOV’s first ground-up development in the Chicago market. The design team includes Spaceco, which will provide civil and surveying services, and Arete Design Studio, which will provide architecture, planning and design services. Construction is expected to begin in spring 2023 and be completed in the fourth quarter of 2023. Chris Volkert, Ned Frank and Jeff Devine of Colliers represented the institutional seller in the land sale. Volkert and Frank, along with colleague Pat Hake, will market the project for lease.

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DevelopmentIllinoisMidwestOfficeTop Stories

Riverside, Convexity Complete 51-Story Office Tower in Chicago

by John Nelson

CHICAGO — A duo of Chicago-based developers, Riverside Investment & Development and Convexity Properties, has completed 320 South Canal, an office tower located across the street from the Chicago Union Station in the city’s West Loop district. The 51-story tower is situated on 2.2 acres and totals more than 1.7 million gross square feet. The building is anchored by Montreal-based BMO Financial Group, which has building signage and will use 320 South Canal as its new U.S. headquarters. Other tenants include the National Futures Association and law firms Chapman & Cutler, Faegre Drinker and Skadden, Arps, Slate, Meagher & Flom. Designed by Chicago-based architecture and planning firm Goettsch Partners (GP), 320 South Canal includes a conference facility, fitness and wellness center, restaurant, a café for to-go food options, bank branch and a cocktail lounge, as well as parking for 324 vehicles and 114 bicycles. The building is connected to the Chicago Union Station through an enclosed pedway and offers access to the Metra train concourse, Amtrak train routes and the LoopLink CTA bus lines. The site also features The Green at 320, a privately owned, publicly accessible park completed earlier this year. The Green comprises 1.5 acres organized around a …

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The-Louise-Arlington
DevelopmentMultifamilyTexas

StreetLights Residential Completes 343-Unit Multifamily Project in Arlington

by Taylor Williams

ARLINGTON, TEXAS — Locally based developer StreetLights Residential has completed The Louise, a 343-unit multifamily project in Arlington that represents Phase II of a larger project within the 2,000-acre Viridian mixed-use development. Units come in studio, one-, two- and three-bedroom floor plans and range in size from 588 to 1,674 square feet. The development also features 32 townhomes with an average size of 1,902 square feet. Amenities include a pool, outdoor lounge, clubroom, fitness center, golf simulator, library, art studio, conference room and a pet park. Information on starting rents was not disclosed. Phase I of the development, The Jackson, totals 340 units and was completed last year.

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2190-Shattuck-Ave-Berkeley-CA
CaliforniaDevelopmentMultifamilyStudent HousingWestern

Landmark Properties Plans Multifamily High-Rise Near University of California, Berkeley

by Amy Works

BERKELEY, CALIF. — Landmark Properties has announced plans to develop a multifamily community near the University of California, Berkeley. The development will be located at 2190 Shattuck Ave. within Berkeley’s restaurant district, and is set to serve students attending the university, as well as faculty and staff. The project will offer units in studio to five-bedroom configurations, with 10 percent of available units designated as affordable housing. Each unit will be fully furnished, and most will offer bed-to-bath parity. Shared amenities are set to include a 7,000-square-foot rooftop deck, dog park, hot tub, fitness center, computer lab and study lounges. The project will also include 7,500 square feet of ground floor retail space and is set for completion in fall 2026. “Landmark is excited to work with the City of Berkeley on the entitlements for our third project in the Berkeley market,” says President and CEO Wes Rogers. “Landmark continues to see a need for well-located, purpose-built, university-focused housing in Berkeley and we look forward to delivering this project as a complement to our two operational apartment communities serving the Berkeley market.”

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Copal-Bellevue-WA
DevelopmentMultifamilyWashingtonWestern

Legacy Partners Breaks Ground on 288-Unit Copal Multifamily Property in Bellevue, Washington

by Amy Works

BELLEVUE, WASH. — Legacy Partners has broken ground on Copal, an apartment community in Bellevue’s Bel-Red submarket. Located at 1525 132nd Ave., the mid-rise, transit-oriented residential property was formerly known as Bellevue Station. The eight-story property will offer 288 apartments, including 230 market-rate units and 58 below-market Multifamily Tax Exemption units. Community amenities will include a gym with a separate yoga zone, coffee bar, rooftop clubroom with terrace and an indoor/outdoor/games room. The lobby will offer coworking space with separate breakout work booth for residents. Additionally, the asset will feature 10,000 square feet of ground-floor retail space. Completion is slated for second-quarter 2025.

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DevelopmentHealthcareMidwestMinnesota

Davis to Develop 35,000 SF Medical Office Building in Eagan, Minnesota

by Kristin Harlow

EAGAN, MINN. — Minneapolis-based developer Davis is developing a 35,000-square-foot multispecialty clinic and ambulatory surgery center in the Twin Cities suburb of Eagan. The Class A medical office building will be anchored by Midwest Surgery Center, which has signed a lease for 27,000 square feet. Midwest Surgery Center, which is a partnership between Midwest ENT and St. Paul Eye, also operates a location in Woodbury, Minn. The Eagan facility is slated for completion in December 2023. The project team includes Minneapolis-based Synergy Architectural Studio and Plymouth, Minn.-based Timco Construction Inc.

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DevelopmentFloridaMixed-UseSoutheastStudent Housing

University of Tampa Breaks Ground on Multipurpose Building, Including 600-Bed Residence Hall

by John Nelson

TAMPA, FLA. — The University of Tampa has broken ground on a 10-story, 460,000-square-foot multipurpose building that will be the largest facility on campus when completed in 2024. The property will feature a 600-bed residence hall, 37 faculty offices, five classrooms, study rooms, study lounge designated for military veterans, a ground-level Starbucks, four levels of parking and spaces dedicated for the school’s Office of Diversity, Equity and Inclusion, Institute for Sales Excellence and the International Programs Office. Additionally, students living in the building will have access to a 9,000-square-foot “sky park.” The design-build team includes Baker Barrios Architects and KWJ Architects. The University of Tampa has an estimated student enrollment of 10,600 for the current academic year, which is the 91-year-old university’s largest student body to date.

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AcquisitionsDevelopmentHospitalityMarylandMultifamilySoutheast

Vivo Living to Convert Two-Tower Hotel in Baltimore to 708-Unit Apartment Property

by John Nelson

BALTIMORE — Vivo Living, an affiliate of adaptive reuse developer Vivo Investments LLC, has purchased a vacant two-tower hotel property in Baltimore that was previously a dual-branded Radisson and Holiday Inn. The company plans to convert the 23- and 27-story towers into an apartment development comprising 708 units, the vast majority of which will be studio units ranging between 300 and 350 square feet. Vivo Living will also update the property’s amenity package, including gyms, yoga/mindfulness studios, pool, convenience store, renovated lobby, outdoor barbecue areas, self-storage space and banquet/coworking space. Vivo Living has tapped locally based Urban Design Group to design the adaptive reuse project. Parkview Financial provided a $45 million construction loan to Vivo Living to fund the redevelopment.

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