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Development

9755-Plaza-Circle-El-Paso
DevelopmentIndustrialTexas

Equity Industrial, Raith Capital to Develop Three Spec Warehouses Totaling 304,303 SF in El Paso

by Taylor Williams

EL PASO, TEXAS — A partnership between Boston-based Equity Industrial Partners and New York-based Raith Capital Partners will develop three speculative warehouses in the El Paso area that will total 304,303 square feet. The two buildings at 9577 Plaza Circle will total 215,444 square feet and are expected to be complete in the fourth quarter. The building at 455 Pan American Drive will span 88,859 square feet and is slated for a first-quarter 2023 delivery. All three buildings will feature 1,200-square-foot office suites, 28-foot clear heights and ESFR sprinkler systems. CBRE has been tapped to lease the buildings. The partnership has developed other spec industrial projects in El Paso that have since been sold.

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1121-at-Symphony-Square-Austin
DevelopmentOfficeTexas

Ivanhoe Cambridge, Greystar Break Ground on 170,000 SF Office Project in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — Canadian developer Ivanhoé Cambridge and South Carolina-based Greystar have broken ground on a 170,000-square-foot office project in downtown Austin. The seven-story building will be part of 1121 at Symphony Square, a mixed-use development at which The Waller, a 32-story residential tower, is currently under construction. The property will feature 5,000 square feet of retail and restaurant space, as well as a range of amenities that promote employee health and wellness, such as a pool, fitness center and turf lawn. Architecture firm R2L is designing the project, with interiors by Austin-based Page and landscape architecture by TBG Partners. Completion is slated for spring 2023.

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The-Langdon-Lynbrook-New-York
DevelopmentMultifamilyNew YorkNortheast

Breslin Realty to Develop 201-Unit Multifamily Project in Lynbrook, New York

by Taylor Williams

LYNBROOK, N.Y. — Breslin Realty Development Corp. will build The Langdon, a 201-unit multifamily project that will be located in the Long Island community of Lynbrook. Located at 47 Broadway, the new development will replace the former Mangrove Feather factory, which has been vacant for 15 years. The Langdon will consist of 55 studios, 111 one-bedroom units and 35 two-bedroom apartments, as well as 2,000 square feet of ground-floor retail space and onsite parking for 205 vehicles. Construction is expected to begin within 60 days and to be complete in summer 2023. Lee Spiegelman, Mark DeLillo, Marc Schulder and Felipe Marin of BlueGate Partners arranged construction financing for the project, which carries a total price tag of $109 million, according to the debt placement team.

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AcquisitionsDevelopmentIndustrialMidwestOhio

Brennan Acquires 34 Acres in Suburban Cincinnati, Plans 445,000 SF Spec Industrial Development

by Kristin Harlow

FAIRFIELD, OHIO — Brennan Investment Group has acquired 34 acres at the intersection of Seward and Symmes roads in Fairfield, a northern suburb of Cincinnati. The firm plans to build two speculative industrial buildings totaling 445,000 square feet. One building will span 282,000 square feet, while the other will total 163,000 square feet. The site is near I-75, I-275 and the Cincinnati-Northern Kentucky International Airport. The seller and sales price were not released.

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1515-Corporate-Crossing-Rockwall-Texas
DevelopmentIndustrialTexas

Stream Realty, Westcore to Develop 301,120 SF Spec Industrial Project in Rockwall, Texas

by Taylor Williams

ROCKWALL, TEXAS — Stream Realty Partners, in partnership with San Diego-based investment firm Westcore, will develop 1515 Corporate Crossing, a 301,120-square-foot speculative industrial project that will be situated on a 43.2-acre site in Rockwall, an eastern suburb of Dallas. Building features will include 32-foot clear heights, a divisible rear-load configuration, 68 dock doors, 309 car parking spaces and 62 trailer stalls, both of which can be expanded based on tenant needs. Completion is slated for the end of the year. Stream will also handle leasing of the facility.

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DevelopmentMassachusettsMultifamilyNortheast

Procopio Cos. Tops Off 49-Unit Multifamily Project in Wilmington, Massachusetts

by Taylor Williams

WILMINGTON, MASS. — Locally based developer The Procopio Cos. has topped off Lume, a 49-unit multifamily project in Wilmington, a northern suburb of Boston. The 74,000-square-foot, transit-served development carries a price tag of $20 million. Upon completion this fall, Lume will consist of 39 garden-style apartments and 10 townhomes. Amenities will include a fitness center, clubroom, coworking space and a pet spa. DMS Design is the project architect, with interiors by Conant Design Group. Boston-based Charlesgate is the leasing and management agency.

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Aileron-Phoenix-AZ.jpg
ArizonaDevelopmentMultifamilyWestern

Triumph Properties Buys Land Parcel for 287-Unit Aileron Multifamily Development in North Phoenix

by Amy Works

PHOENIX — Triumph Properties has closed an $82.5 million total capitalization for Aileron, a multifamily project located in North Phoenix. The company acquired the 9.8-acre land parcel from Moderne Capital Partners, which will partner with Triumph on the project. Aileron will feature 286 apartments in a mix of studios, one- and two-bedroom units averaging 842 square feet. Units will feature vinyl plank and carpet flooring, quartz countertops, tile backsplashes, wood cabinets, stainless steel appliances, in-unit laundry and air conditioning. Community amenities will include a pool, spa, clubhouse, fitness center, barbecue area, secured access and a package center.

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ColoradoDevelopmentMultifamilyWestern

Legacy Partners, Pacific Life Acquire Site for 236-Unit Residential Tower in Denver

by Amy Works

DENVER — Legacy Partners and Pacific Life have purchased Araceli DTC, a to-be-developed residential tower in Denver. Situated on 1.3 acres at 4552 S. Ulster, the property will feature 236 apartments spread across 10 levels and a three-level garage podium. The property will feature panoramic views and an average unit size of 896 square feet. Community amenities will include a pool amenity deck, a protected Uber/Lyft pickup/drop-off area and electric car charging stations. Completion is slated for 2024. Mark Erland, Matthew Benson and Kevin Barron of JLL Capital Markets arranged $106 million in joint-venture equity and construction financing for Legacy Partners. The financing is a four-year, floating-rate senior construction loan, which an investment manager provided.

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The-Moraine-Tacoma-WA
DevelopmentMultifamilyWashingtonWestern

Ethos Breaks Ground on 160-Unit Moraine Apartment Project in Tacoma, Washington

by Amy Works

TACOMA, WASH. — Portland, Ore.-based Ethos Development has broken ground on The Moraine, a multifamily property in Tacoma. The eight-story, 115,000-square-foot podium building will include 160 apartments, a fitness center, media room, roof deck with communal kitchen and billiards room. The project has a voluntary target of 25 percent minority and disadvantaged business participation during construction, a target to recycle 70 percent of the construction waste stream, and the building will have both onsite solar panels and a green roof. The units are designed to provide market-rate affordability by way of efficient floor plans, and 20 percent of the units will be available to those earning no more than 80 percent of area median income as part of the tax exemption program of Pierce County. The project team includes Portland-based Works Progress Architecture, Walsh Construction Co. and Ethos Commercial Advisors.

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Kubota
DevelopmentGeorgiaTop Stories

Kubota Opens 280-Acre Research, Development Center in Gainesville, Georgia

by Julia Sanders

GAINESVILLE, GA. — Farming and construction machinery producer Kubota North America Corp. has opened a 280-acre research and development (R&D) center in Gainesville, approximately 50 miles northeast of Atlanta. The firm invested more than $85 million to build the new facility. The center houses engineering offices, workshops and testing labs. Outside of the facility, there are tracks for testing turf, utility vehicles, tractors and construction equipment. Kubota is opening the facility with 70 engineering and technical employees and plans to grow to nearly 200 employees over the next five years. According to Phil Sutton, vice president for Kubota Manufacturing of America, the firm already employs more than 3,000 team members in the state of Georgia across manufacturing, sales, distribution and engineering operations. The new R&D center is fully powered by renewable energy and built on the sustainable principles. The center is powered in part by solar panels and the parking lot features a solar-powered roof to support electric vehicle charging stations. Kubota North America Corp. is the parent company for Grapevine, Texas-based Kubota Tractor Corp. and Gainesville-based Kubota Manufacturing of America. “This new R&D center here in Georgia is going to allow us to continue to innovate products and solution …

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