Development

Federal Realty Tops Out Pike & Rose Office Tower in North Bethesda, Maryland

by John Nelson November 21, 2022

NORTH BETHESDA, MD. — Federal Realty Investment Trust (NYSE: FRT), a real estate investment trust based in Rockville, has topped out 915 Meeting Street, an office tower underway within the company’s Pike & Rose mixed-use development in North Bethesda. The building rises 16 stories and will comprise 250,000 square feet of office space upon completion, as well as 545 parking spaces and 6,000 square feet of ground-floor retail space. Choice Hotels International Inc. signed a lease last year to occupy nearly half of the office tower for its new corporate headquarters. Sodexo, a food services and facilities management company based in Paris, is another notable tenant that has preleased office space at 915 Meeting Street. General contractor Clark Construction Group and architectural firm Gensler lead the development team, which is targeting LEED Gold certification for the tower. “915 Meeting Street is our newest trophy building offering to the market,” says Jay Brinson, vice president of development at Federal Realty. “This collaborative effort with our partners at Clark and Gensler has resulted in a building that is 60 percent [preleased].” Clark Construction broke ground last December on 915 Meeting Street. With vertical construction complete, the firm is focused on building out …

November 21, 2022

Development Industrial Texas

Lovett Industrial Breaks Ground on 1.1 MSF Spec Project in Metro Dallas

by Taylor Williams November 18, 2022

FORNEY, TEXAS — Houston-based developer Lovett Industrial has broken ground on Innovation Ridge Logistics Park, a 1.1 million-square-foot speculative project in the eastern Dallas suburb of Forney. The development will consist of an 817,538-square-foot cross-dock facility, a 175,092-square-foot single-load building and a 145,020-square-foot single-load structure. Ware Malcomb designed the project, and Alston Construction is serving as the general contractor. Kimley-Horn is the civil engineer. Simmons Bank provided construction financing, and Cushman & Wakefield is the leasing agent. Completion is slated for September 2023.

November 18, 2022

Affordable Housing Development Multifamily Seniors Housing Utah Western

TWG Plans $13M Residences at Fireclay Affordable Seniors Housing Project in Murray, Utah

by Amy Works November 18, 2022

MURRAY, UTAH — TWG has unveiled plans for Residences at Fireclay, a $13 million affordable seniors housing community in Murray. Construction is slated to begin this year, with the first units available in 2025. Located at 152 W. 4250 South, the four-story building will feature 40 one-bedroom apartments for seniors age 62 and older. The units are also reserved for those earning up to 50 percent of the area median income, with a preference for military veterans. Additionally, the project includes four units reserved for disabled seniors and five units available for seniors who have experienced homelessness. Community amenities will include a fitness room, community-raised garden, community room with kitchen and a computer room. TWG has partnered with First Step House, a Salt Lake City-based nonprofit that addresses addiction, mental health, homelessness and criminal justice, to provide services and referrals for residences. The project was made possible with Low Income Housing Tax Credits from the Utah Housing Corp. Additional key partners include Olene Walker Housing Loan Fund, Raymond James and Horizon Bank.

November 18, 2022

Development Industrial South Carolina Southeast

NorthPoint Breaks Ground on 3.3 MSF Industrial Park in Spartanburg, South Carolina

by John Nelson November 18, 2022

SPARTANBURG, S.C. — Kansas City-based NorthPoint Development has broken ground on the first phase of Spartan Enterprise Park, a 310-acre industrial park in Spartanburg that will span nearly 3.3 million square feet upon completion. Phase I comprises two buildings spanning more than 1.3 million square feet, and future phases can accommodate an additional 1.9 million square feet of space. The Colliers team of Garrett Scott, Brockton Hall and Dillon Swayngim helped facilitate the land purchase and will handle all leasing for the park on behalf of NorthPoint. Preleasing for Building One and Building Two is underway, and completion is expected for fourth-quarter 2023. Spartan Enterprise Park is located at 2116 U.S. Highway 221/Chesnee Highway, which is less than one mile from I-85, four miles from downtown Spartanburg and approximately 20 miles from Inland Port Greer, Greenville-Spartanburg International Airport and BMW’s regional manufacturing plant.

November 18, 2022

The-District-Berkeley-Heights-New-Jersey

Development Multifamily New Jersey Northeast Retail

Connell Co. Unveils Plans for Expansion at The Park in Berkeley Heights, New Jersey

by Taylor Williams November 18, 2022

BERKELEY HEIGHTS, N.J. — Connell Co. has unveiled plans for expansion at The Park, a 185-acre mixed-use campus in the Northern New Jersey community of Berkeley Heights. The latest phase of The Park will be known as The District and will comprise five new buildings that will house 328 multifamily units and 190,000 square feet of retail, restaurant and entertainment space. The two multifamily buildings will total 179 and 149 units and will both feature a variety of indoor and outdoor amenities. The first of the three retail buildings will encompass 81,715 square feet and will be fully dedicated to entertainment. End users within this structure, which will also house a covered garden and event space, will include a brewery, Mexican restaurant, Italian steakhouse and a duckpin bowling concept. The other retail buildings will total 30,515 and 25,755 square feet. The District will also feature various pocket parks and open green spaces. Completion is slated for 2025.

November 18, 2022

Development Multifamily New York Northeast

Rose Associates, Battery Global Top Out 440-Unit Apartment Building in Yonkers

by Taylor Williams November 18, 2022

YONKERS, N.Y. — A partnership between locally based developer Rose Associates and asset management firm Battery Global Advisors has topped out Alexander Crossing, a 440-unit apartment building located north of New York City in Yonkers. Designed by Perkins Eastman and built by Callahan Construction Managers, Alexander Crossing is a seven-story, 600,000-square-foot building. The property will feature studio, one- and two-bedroom units and amenities such as a heated outdoor pool, fitness center, outdoor grilling and dining areas, game room, coworking lounge and a multi-sport simulator. The development team plans to deliver units in phases over the course of 2023.

November 18, 2022

Development Industrial New York Northeast

Rockefeller Group Nears Completion of 172,622 SF Spec Industrial Project on Long Island

by Taylor Williams November 18, 2022

BAY SHORE, N.Y. — New York City-based investment and development firm Rockefeller Group is nearing completion of a 172,622-square-foot speculative industrial project located at 55 Paradise Lane in the Long Island community of Bay Shore. Building features include a clear height of 36 feet, 40 dock doors, two overhead doors and parking for 270 vehicles. Completion is slated for spring 2023. KSS Architects designed the project, and Aurora Contractors is serving as the general contractor. Huntington is the civil engineer. JLL has been tapped to lease the development.

November 18, 2022

Development Michigan Midwest Mixed-Use

Related Cos., Olympia Development Propose $1.5B Mixed-Use Project in District Detroit

by Kristin Harlow November 18, 2022

DETROIT — Related Cos. and Olympia Development of Michigan have proposed a $1.5 billion mixed-use project at The District Detroit, a sports and entertainment development spanning 50 blocks in downtown Detroit. The companies have begun a Community Benefits Ordinance (CBO) process with the City of Detroit, marking the next phase of plans to build new office, retail, residential with affordable housing, hotel and public space across 10 properties. The first meeting for residents in the areas surrounding the development will take place Tuesday, Nov. 29. The proposed development includes the construction of six new buildings and the renovation and adaptive reuse of four historic buildings. The type of development reflects initial feedback from the community, including more than 250 community engagement meetings to date, which will continue through the city-led CBO process. The new projects would include 695 mixed-income residential units, 20 percent of which would be reserved for those who earn up to 50 percent of the area median income, as well as 1.2 million square feet of office space, 100,000 square feet of retail space and 467 hotel rooms.

November 18, 2022

Development Illinois Industrial Midwest

Peak Underway on Construction of 1 MSF Spec Industrial Building in Joliet, Illinois

by Kristin Harlow November 18, 2022

JOLIET, ILL. — Peak Construction Corp. is underway on a 1 million-square-foot speculative building at NorthPoint Development’s Third Coast Logistics Park in Joliet. The facility will feature a clear height of 40 feet, 103 dock doors, four drive-in doors and 264 trailer parking stalls. Peak will also construct a second speculative building at the industrial park. Plans call for a 1.2 million-square-foot facility with a clear height of 40 feet, 120 dock doors, four drive-in doors and 247 trailer parking stalls. Completion of both buildings is slated for fall 2023. The project team includes architect studioNorth Architecture and civil engineer Jacob & Hefner Associates.

November 18, 2022

Development Industrial Midwest Minnesota

Opus Breaks Ground on River Valley Business Park in Shakopee, Minnesota

by Kristin Harlow November 18, 2022

SHAKOPEE, MINN. — The Opus Group has broken ground on River Valley Business Park in Shakopee, a southwest suburb of Minneapolis. The speculative project will include a 150,000-square-foot building and a 300,000-square-foot building on 51 acres. The smaller facility will feature 42 dock doors, up to 214 auto parking stalls and a clear height of 28 feet. The larger building will include 74 dock doors, up to 413 auto parking stalls and a clear height of 32 feet. Completion is slated for late 2023. Opus is the developer, design-builder, architect and structural engineer for the project. Kris Smeltzer and Danny McNamara of Cushman & Wakefield will market the development for lease.

November 18, 2022

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