Development

Green-Acres-Distribution-Center-Spokane-Valley-WA

PCCP, Panattoni Break Ground on 192,078 SF Green Acres Distribution Center in Spokane Valley, Washington

by Amy Works October 19, 2022

SPOKANE VALLEY, WASH. — A joint venture between PCCP and Panattoni Development Co. has started construction of Green Acres Distribution Center, a speculative, Class A distribution facility at 17770 E. Euclid Ave. in Spokane Valley. Slated for completion in third-quarter 2023, the 192,078-square-foot building will offer 30-foot clear heights and rear loading capabilities. The asset is situated on 9.8 acres. The Spokane Valley area offer an abundant labor pool and access to Interstate 90, as well as Union Pacific and Burlington Northern Santa Fe railroad lines.

October 19, 2022

Arizona Colorado Development Hospitality Nevada Top Stories Utah Western

Partnership Plans 15 New Extended Stay America Premier Suites Hotels in Western Region

by Kristin Harlow October 19, 2022

CHARLOTTE, N.C. — Charlotte-based Extended Stay America has signed a development agreement with a partnership comprising Concord Hospitality and Whitman Peterson to build 15 new Extended Stay America Premier Suites hotels. The properties will be located in major markets throughout the West, including Denver, Phoenix, Las Vegas and Salt Lake City. Concord Hospitality is a hotel management and development company based in Raleigh, N.C., and will handle the development, branding and operations of the properties. Whitman Peterson is a private real estate equity company based in Westlake Village, Calif. The firm will provide equity, identify markets and assist with development. “Extended Stay America Premier Suites has a unique business model that will allow us to reach business and corporate extended-stay travelers looking for a higher level of amenities,” says Mark Laport, CEO and president of Concord. “This agreement is the first step in increasing our presence in the higher-end extended-stay segment.” The Extended Stay America Premier Suites brand comprises both new construction and renovated properties with upgraded amenities, including fully equipped kitchens, apartment-style layouts for working and dining, free in-room Wi-Fi, cable, onsite guest laundry, free breakfast and upgraded design elements such as larger TVs, increased storage space and a …

October 19, 2022

Build-to-Rent Development Single-Family Rental Texas

Lynd to Develop $61M Build-to-Rent Residential Community in Lockhart, Texas

by Taylor Williams October 18, 2022

LOCKHART, TEXAS — San Antonio-based multifamily developer The Lynd Group has acquired a 30.5-acre parcel in Lockhart, about 35 miles south of Austin, for the development of a 174-unit build-to-rent community. Lynd is developing the project, which carries a total price tag of $61 million, in partnership with T.R. Inscore. Residences will come in two- and three-bedroom formats and will have an average size of 1,530 square feet. Communal amenities will include a pool, fitness center, dog park, a clubhouse and outdoor grilling and dining areas. Construction is scheduled to begin in January, with the first homes slated to come on line in the third quarter of 2023.

October 18, 2022

Civic Development Texas

Adolfson & Peterson Construction Completes $53M Renovation, Addition to Metro Dallas High School

by Taylor Williams October 18, 2022

MIDLOTHIAN, TEXAS — General contractor Adolfson & Peterson Construction has completed a $53 million renovation and expansion project at Midlothian Heritage High School, located south of Dallas. Designed by VLK Architects, the project updated the main entrance and added a 185,000-square-foot academic wing with science labs, gyms, a fine arts complex and cafeteria. Construction began in summer 2020.

October 18, 2022

Development District of Columbia Mixed-Use Multifamily Retail Southeast

Standard Real Estate Investments to Develop $650M Mixed-Use Project in D.C.

by John Nelson October 18, 2022

WASHINGTON, D.C. — Standard Real Estate Investments LP, a minority-owned national real estate investment and development firm with offices in Washington, D.C., and Los Angeles, has purchased the Senator Square and East River Park shopping centers in northeast Washington D.C. The centers span 13 acres and are entitled and programmed for a $650 million mixed-use redevelopment that will bring 1,500 residential units, including approximately 300 affordable housing units, and 120,000 square feet of retail space to D.C.’s Northeast Heights district. National Housing Trust is developing 110 of the project’s 300 affordable housing units in a standalone building. The Black Economic Development Fund, which is managed by affiliates of the Local Initiatives Support Corp., and Forbright Bank provided construction financing for the development. The site is located within walking distance of the Minnesota Avenue Metro Station and near a build-to-suit office project that Trammell Crow Co. is developing for the District of Columbia’s Department of General Services. The construction timeline for the development was not disclosed.

October 18, 2022

Development Industrial Maryland Southeast

Joint Venture Breaks Ground on Two Spec Industrial Facilities in Hagerstown, Maryland Totaling 2 MSF

by John Nelson October 18, 2022

HAGERSTOWN, MD. — A joint venture led by an affiliate of Baltimore-based MCB Real Estate LLC has begun construction on Currwood Logistics Park, a 2 million-square-foot industrial park in Hagerstown. Set for delivery in late fall 2023, the 195-acre project will comprise two single-story buildings — one spanning nearly 1.7 million square feet and the other a 300,000-square-foot building that are being developed simultaneously on a speculative basis. Other members of the joint venture include Invesco Real Estate, Curated Development Group and Birchwood Capital Partners. The development is expected to generate nearly 1,500 new jobs for Washington County and the surrounding area. The development team is investing in the construction of a new signalized intersection at U.S. Route 40, as well as a new four-lane extension of Paul Smith Boulevard that extends to another new signalized intersection at Edgewood Drive that will serve as the project’s entrance. The concrete tilt-wall buildings will feature 36- to 40-foot clear ceiling heights, LED lighting, high-efficiency HVAC systems, 185-foot truck courts and segregated parking fields reserved for employee and visitor parking. The larger building will feature 196 dock doors and four drive-in doors, an alternate-energy-ready roof structure designed to accommodate a photovoltaic solar array …

October 18, 2022

Development Florida Mixed-Use Multifamily Southeast

Carter, Hunt Cos. to Build 22-Acre Mixed-Use Project in Lakeland, Florida

by John Nelson October 18, 2022

LAKELAND, FLA. — Atlanta-based Carter has partnered with El Paso, Texas-based Hunt Cos. Inc. to build a mixed-use development in Lakeland’s west downtown district. Carter recently closed on the purchase of the 22-acre site, which fronts Lake Wire and is proximate to the new 168-acre Bonnet Springs Park and RP Funding Center. Situated within an opportunity zone, the project will be built in two phases, the first phase of which will include 300 multifamily units and more than 15,000 square feet of street-level retail space. Patterson Real Estate Advisory Group assisted Carter in arranging the construction financing for the project through Citizens Bank. David Bunch and Lisa Parks Abberger of Hauger-Bunch Inc. represented the undisclosed seller in the land transaction.

October 18, 2022

Acquisitions Development Florida Industrial Southeast

Cushman & Wakefield Arranges $18M Land Sale in Daytona Beach, Buyer Plans 777,200 SF Industrial Project

by John Nelson October 18, 2022

DAYTONA BEACH, FLA. — Cushman & Wakefield has arranged the $18 million sale of a 67-acre industrial land site located at 1094 S. Williamson Blvd. in Daytona Beach. The buyer, Karis, expects to deliver three Class A buildings totaling 777,200 square feet on the site by late 2023. Jared Bonshire, David Perez, Taylor Zambito and Matthew Trone of Cushman & Wakefield represented the buyer in the transaction. The sellers, John Schnebly and Craig Wells, are successor co-trustees of the Berrien H Becks Sr Revocable Trust. Karis has retained the Cushman & Wakefield team to lease the development, which will be located at the intersection of I-4 and I-95. The buildings will feature cross-dock configurations, up to 100 dock doors, 40-foot clear heights, large truck courts and ample off-dock trailer parking.

October 18, 2022

Summit-Court-Union-New-JerseySummit-Court-Union-New-Jersey

Development Multifamily New Jersey Northeast

Diversified Properties, Fidelco Complete 396-Unit Multifamily Project in Union, New Jersey

by Taylor Williams October 18, 2022

UNION, N.J. — A partnership between two New Jersey-based firms, Diversified Properties and Fidelco Realty Group, has completed Summit Court, a 396-unit multifamily project located in the Northern New Jersey community of Union. The property features one- and two-bedroom units and amenities such as a pool, outdoor grilling and dining stations, a fitness center, gaming lounge, pet play area and a catering kitchen. Rents start at $2,365 per month for a one-bedroom unit.

October 18, 2022

Development Northeast Retail Rhode Island

Topgolf to Open 68,000 SF Entertainment Venue in Cranston, Rhode Island

by Taylor Williams October 18, 2022

CRANSTON, R.I. — Topgolf will open a 68,000-square-foot venue at 100 Sockanosset Cross Road in Cranston. Locally based firm Carpionato Group owns the site and is leading the development of the multi-level facility, which will be the first in Rhode Island for the Dallas-based entertainment concept. Construction is underway and expected to be complete before the end of 2023. Carpionato is also working with Rhode Island Department of Transportation on infrastructural improvements associated with the project, such as the reconstruction of the eastern section of Route 37, which included a frontage road from Route 37 at Pontiac Avenue. Carpionato Group originally acquired the site in 1997.

October 18, 2022

Newer Posts

Older Posts