Development

DCI Group Breaks Ground on 62-Acre Waukee Towne Center in Suburban Des Moines

by Kristin Harlow May 19, 2023

WAUKEE, IOWA — General contractor DCI Group Inc. has broken ground on Waukee Towne Center in suburban Des Moines. Pierson Cos. is developing the 62-acre project, and Ryan Cos. is building the 148,000-square-foot Target store that will anchor the development. Corell Contractor Inc. is currently performing earthwork. Located at the intersection of Hickman and Alice’s roads, the development will include retail, entertainment and restaurant space overlooking an eight-acre lake with a fountain. Seasonal amenities will include a winter ice skating rink, summer game area, playground and amphitheater. A timeline for completion was not provided.

May 19, 2023

Affordable Housing Development Midwest Multifamily Ohio

Woda Cooper Begins Development of 97-Unit Affordable Housing Community in Columbus

by Kristin Harlow May 19, 2023

COLUMBUS, OHIO — Woda Cooper Cos. Inc. and co-developer Franklinton Development Association have broken ground on Starling Yard, a 97-unit affordable housing community in the Franklinton neighborhood of Columbus. Located at 120 S. Central Ave., the project involves the adaptive reuse of the vacant Starling Middle School. Woda Cooper secured the site through a purchase agreement with the Board of Education of the Columbus City School District. The school, listed on the Columbus Register of Historic Properties in 2022, was originally built as West High School in 1908. It has been vacant since 2013. In addition to the adaptive reuse component, the project will also include two ground-up buildings with 52 units. All of the property’s units will be reserved for residents who earn 30 to 80 percent of the area median income. Rental rates are projected to range from $400 to $1,295 per month depending on income restriction and size of the unit. Five units will be reserved for those with mobility challenges and two units for those with sight and hearing disabilities. Primary financial support for Starling Yard is the result of a bond issuance and Low-Income Housing Tax Credits allocated by the Ohio Housing Finance Agency (OHFA). …

May 19, 2023

Acquisitions Development Illinois Industrial Midwest

Entre Brokers Sale of Build-to-Suit Industrial Site in Brewster Creek Business Park in Bartlett, Illinois

by Kristin Harlow May 19, 2023

BARTLETT, ILL. — Entre Commercial Realty has brokered the sale of a 3.7-acre industrial site for a build-to-suit project in Brewster Creek Business Park in the Chicago suburb of Bartlett. The corporate headquarters facility will be home to a printing and packaging company relocating from Kane County. Mike DeSerto, Cory Kay and Mike Berkowitz of Entre represented the developer, Triumph Construction. JLL represented the buyer. The deal marks the fourth build-to-suit transaction that Entre has completed in Brewster Creek Business Park on behalf of Triumph.

May 19, 2023

Development Maryland Mixed-Use Seniors Housing Southeast

Park Avenue Lifestyle to Develop $70M Seniors Housing Project at James Run in Metro Baltimore

by John Nelson May 18, 2023

BEL AIR, MD. — Park Avenue Lifestyle has purchased a site within James Run, a mixed-use development underway in the Baltimore suburb of Bel Air, from master developer JEN Partners, a real estate private equity fund based in New York. The Orlando-based buyer plans to develop a $70 million seniors housing community on the site that will feature independent living, assisted living and memory care units, as well as a fitness center, outdoor courtyards, walking paths and an in-house restaurant and pub. At full build-out, which is anticipated for 2025, James Run will comprise this seniors housing property; 190 age-targeted villas and 80 townhomes; the 304-unit James Run Apartments; more than 57,000 square feet of retail space, including boutique shops, sit-down, fast-casual and quick-service restaurants; 20,000 square feet of office and medical office space; and a 125-room hotel and conference center. The development is approximately 50 percent complete, according to JEN Partners. Committed tenants include Starbucks, Kiddie Academy, Royal Farms gas station and convenience store, two unnamed Italian and steakhouse restaurants and a freestanding wine store. Baltimore-based Craftsmen Cos. is the development manager for James Run, and MacKenzie Commercial Real Estate Services is the project’s leasing brokerage firm.

May 18, 2023

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Toro Signs 11 Tenants to Medley Mixed-Use Development Underway in Metro Atlanta

by John Nelson May 18, 2023

JOHNS CREEK, GA. — Toro Development Co. (TDC) has announced leases with 11 tenants at Medley, a mixed-use project currently underway in Johns Creek, roughly 30 miles northeast of Atlanta. Upon completion, the development will include 200,000 square feet of retail, restaurant and entertainment space, as well as 900 residential units and 110,000 square feet of office space. The committed tenants include Little Rey (a concept by Atlanta-based chef and restaurateur Ford Fry), CRÚ Food & Wine Bar, AYA Medical Spa, Fadó Irish Pub, BODY20, Lily Sushi Bar, Lucciano’s Gelato, Sugarcoat Beauty, Summit Coffee, Knuckies Hoagies and Cookie Fix. Len Erickson and Kaitlyn Theriot of Franklin Street handle retail leasing at Medley, and Bryan Heller of Stream Realty Partners handles office leasing. The design-build team includes architect Nelson Worldwide, engineer firm Kimley-Horn and landscape architect Site Solutions. Demolition of a 350,000-square-foot office building is currently underway at the site. TDC plans to break ground on Medley before the end of the year.

May 18, 2023

Acquisitions Development New Jersey Northeast Retail

Pacific Retail Capital Partners Acquires 1.2 MSF Mall in Bridgewater, New Jersey, Plans Redevelopment

by Taylor Williams May 18, 2023

BRIDGEWATER, N.J. — Pacific Retail Capital Partners (PRCP) has acquired Bridgewater Commons, a 1.2 million-square-foot mall located in Bridgewater, roughly 40 miles outside New York City, for an undisclosed price. The Village at Bridgewater Commons, an adjacent 94,000-square-foot open-air shopping center, was included in the acquisition. Tenants at the mall include Bloomingdale’s, Macy’s, Apple, J. Crew, lululemon, Athletica, Williams-Sonoma, The Cheesecake Factory, AMC Dine-In Theatres, LOFT, Maggiano’s Little Italy, Shake Shack and Starbucks Coffee. PRCP has assumed the property’s existing loan and secured an extension, with plans to transform the mall into a mixed-use development. Specific details and uses of the redevelopment have not yet been finalized.

May 18, 2023

Development Massachusetts Multifamily Northeast

US2 Begins Leasing 450-Unit Prospect Union Square Apartments in Somerville, Massachusetts

by Taylor Williams May 18, 2023

SOMERVILLE, MASS. — US2, a joint venture between Magellan Development, RAS Development LLC, Cypress Equity Investments and Affinius Capital, has begun leasing Prospect Union Square, a 450-unit apartment community located outside of Boston in Somerville. Designed by Howeler + Yoon, Prospect Union Square consists of a midrise building and a 25-story tower, both of which are situated within the USQ mixed-use development. Units come in studio, one- and two-bedroom floor plans and are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, fitness center, coworking lounge, game room, outdoor grilling and dining areas and a package locker system. Rents start at $2,460 per month for a studio apartment. Move-ins will begin in July.

May 18, 2023

Development Illinois Midwest Multifamily Seniors Housing

Focus Completes 173-Unit Everleigh Active Adult Community in Vernon Hills, Illinois

by Kristin Harlow May 18, 2023

VERNON HILLS, ILL. — General contractor Focus has completed Everleigh, a 173-unit luxury active adult community in the Chicago suburb of Vernon Hills. Units range in size from 567 to 1,373 square feet, and there are also seven duplex cottages. Amenities include a demonstration kitchen, game room, fitness center, theater, business center and lounge. Designed by Meeks + Partners, the property rises four stories. Monthly rents start at $1,800. The developer, Greystar, launched the Everleigh by Greystar brand in 2017 with a focus on high-quality living for residents age 55 and older. Everleigh properties are now in eight states.

May 18, 2023

Development Industrial Midwest Minnesota

PCCP, Endeavor Development to Build Next Phase of Arbor Lakes Business Park in Maple Grove, Minnesota

by Kristin Harlow May 18, 2023

MAPLE GROVE, MINN. — A joint venture between PCCP and Endeavor Development has begun Phase II of Arbor Lakes Business Park in the Minneapolis suburb of Maple Grove. This second phase includes two buildings totaling 406,000 square feet. The buildings will each feature a clear height of 32 feet along with dock doors, drive-in doors, ample car parking and a shared 180-foot truck court. RJ Ryan is the general contractor. First National Bank of Omaha provided the construction loan. Phase I, which encompasses two buildings totaling 443,097 square feet, is slated for completion soon.

May 18, 2023

Development Indiana Midwest Office

Skender Expands Indiana Office, Workforce to Support Construction Projects Throughout Hoosier State

by Kristin Harlow May 18, 2023

INDIANAPOLIS — Skender has moved into a larger Indiana office, located in the Keystone area of North Indianapolis, and more than doubled its workforce in the state to support a host of new projects under construction and in the planning stages. The Chicago-based general contractor’s presence in the region began in early 2020 when Indiana University Health (IU Health) hired Skender to assist with significant expansion and upgrades to IU Health facilities in Indianapolis and around the state. Skender’s Brian Simons relocated to central Indiana to head up local operations with a focus on expanding relationships with clients, architects, brokers and trade partners. Skender now has more than 1 million square feet of construction projects across Indiana, and the firm’s Indiana office is projecting more than 400 percent annual revenue growth in 2023. Projects span the healthcare, municipal, office and industrial sectors.

May 18, 2023

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