Development

Walmart to Open 1 MSF Distribution Center Near Port Houston, Create 300 Jobs

by Taylor Williams March 11, 2022

BAYTOWN, TEXAS — Walmart (NYSE: WMT) has signed a lease to open a 1 million-square-foot distribution center at Cedar Port Trade Center in the eastern Houston suburb of Baytown. The Arkansas-based retail giant is expanding its supply chain operations near Port Houston, where it already occupies several million square feet of industrial space, with plans to add about 300 new jobs to the regional economy. Dallas-based Hunt Southwest developed the property on a speculative basis, beginning construction in September 2020 and completing the project in April 2021. Joseph Smith, Bill Frain and Jamie Roussel of CBRE represented Walmart, which plans to open the facility in the fall, in the lease negotiations. Jason Dillee and Nathan Wynne, also with CBRE represented Hunt Southwest.

March 11, 2022

Development Multifamily Texas

Legacy Partners to Develop 296-Unit Merit Apartment Community in Metro Dallas

by Taylor Williams March 11, 2022

LEWISVILLE, TEXAS — San Francisco-based Legacy Partners will develop Merit, a 296-unit apartment community in the northern Dallas suburb of Lewisville. The development will feature one-, two- and three-bedroom units that will range in size from 630 to 1,500 square feet and will be furnished with granite countertops, stainless steel appliances, work-from-home spaces and private balconies or patios. Amenities will include a pool, fitness center, dog park, coworking space, outdoor gaming area and a 24-hour convenience mart. Dallas-based JHP Architecture is designing Merit, and Provident General Contractors is building the community. Chinmay Bhatt, Cody Kirkpatrick and Noam Franklin of Berkadia secured a $20.2 million equity investment from Pondmoon Capital Holdings USA for the project. Completion is slated for mid-2023.

March 11, 2022

Development Healthcare Texas

McCarthy Tops Out 85,000 SF Cancer Care Center in Tyler, Texas

by Taylor Williams March 11, 2022

TYLER, TEXAS — St. Louis-based general contractor McCarthy Building Cos. has topped out The Northeast Texas Cancer and Research Institute, an 85,000-square-foot healthcare project in Tyler, about 100 miles east of Dallas. The center is located on the CHRISTUS Mother Frances Hospital campus and will feature specialized areas for cancer treatment provider Texas Oncology, including 30,000 square feet of clinic space for medical, radiation and gynecologic oncology services, as well as nearly 3,000 square feet of space dedicated to research. The property will be equipped with three linear accelerators for radiation therapy, 52 chemotherapy infusion stations, four private rooms, a patient exercise area and a pharmacy with lab services. Construction began in May 2021 and is expected to be fully complete in September.

March 11, 2022

Development New York Northeast Office

Rockpoint Completes Renovation of 1700 Broadway Office Building in Midtown Manhattan

by Taylor Williams March 11, 2022

NEW YORK CITY — Boston-based private equity firm Rockpoint has completed the renovation of 1700 Broadway, a 627,747-square-foot office building in Midtown Manhattan. Designed by Fogarty Finger and BR Design Associates, the renovation included a lobby upgrade, the installation of new dispatch elevators and the delivery of new tenant amenities. In addition, Rockpoint has recently executed several new leases at 1700 Broadway, including corporate advisory firm M3 Partners LP (13,000 square feet) and Alton Aviation Consultancy (4,900 square feet). Newmark represented Rockpoint in those deals.

March 11, 2022

Development Massachusetts Multifamily Northeast

Procopio Cos. Tops Off 146-Unit Multifamily Project Near Boston

by Taylor Williams March 11, 2022

LYNN, MASS. — Locally based developer The Procopio Cos. has topped off Mosaic, a 146-unit multifamily project in the northeastern Boston suburb of Lynn. Mosaic will offer studio and one-bedroom units and amenities such as a pool, outdoor grilling areas, a rooftop lounge and remote work areas. In addition, the transit-served property will house three retail spaces. Massachusetts-based DMS Design and CUBE3 are the project architects, and Dellbrook | JKS is the general contractor. Greystar is providing management and leasing services. Full completion is slated for the summer. Rents start at $1,900 per month for a studio apartment.

March 11, 2022

California Development Industrial Self-Storage Western

StoragePRO Management Opens 131,000 SF Self-Storage Facility in Fairfield, California

by Amy Works March 11, 2022

FAIRFIELD, CALIF. — StoragePRO Management has opened a new multi-level self-storage facility situated on five acres at 475 Lopes Road in Fairfield. The 131,000-square-foot facility offers 930 indoor storage units and a two-story RV, boat and vehicle storage on the ground floor with secure, drive-up access. The property also features a property-wide 24-hour surveillance video system, electronic smart locks on each unit, entry and exit property access keypads, fenced and gated property perimeters, motion-censored interior and exterior LED lighting, fire sprinklers and onsite managers, as well as a leasing office and no-contact online rentals and bill pay. Elk Grove-based GC Construction and Development served as the project’s general contractor.

March 11, 2022

Alaska Development Multifamily Top Stories Western

The X Co. Completes 20-Story Multifamily High-Rise in Downtown Phoenix

by Taylor Williams March 11, 2022

PHOENIX — Chicago-based developer The X Co. has completed X Phoenix, a 20-story multifamily high-rise project located at 200 W. Monroe St. in the state capital’s downtown area. The 731,321-square-foot building houses 330 residential units and represents Phase I of a larger development. Phase II of X Phoenix will feature a 26-story multifamily tower that will be developed on an adjacent parcel. Construction of Phase II is scheduled to begin this spring. Phase I of X Phoenix included a parking garage with 612 stalls, plus an indoor mezzanine storage space with 159 bike parking spots and a wash station. The eighth floor of the building houses two pools with a poolside bar and restaurant that is scheduled to open in April. In addition, the ninth floor of the building features a 9,000-square-foot fitness center with locker rooms and a yoga studio. Lastly, the building contains 50,000 square feet of commercial space that will be built out to support restaurant and coworking uses. Chicago-based Fitzgerald & Associates designed X Phoenix, with Workshop/APD handling interior design. Clayco, a design-build firm with five offices across the county, provided construction management services. Kimley-Horn and Peterson Associates provided engineering services. The X Co. has built …

March 11, 2022

Acquisitions Development Industrial Office Texas

Welcome Group Buys Land in San Antonio for 135,000 SF Industrial Flex Project

by Taylor Williams March 10, 2022

SAN ANTONIO — Houston-based development and investment firm Welcome Group has purchased 7.6 acres in San Antonio for the construction of a industrial flex project that could span as much as 135,00 square feet. The site is located within the 350-acre Connection Industrial Park master-planned development, in between distribution centers occupied by Amazon and Dollar General. Michael Kent of Stream Realty Partners represented the seller in the land deal. A construction timeline was not disclosed.

March 10, 2022

Development Florida Office Retail Southeast

Patrinely, USAA Begin Renovations at 263,000 SF Office, Retail Center in Metro Miami

by Julia Sanders March 10, 2022

CORAL GABLES, FLA. — Patrinely Group has begun renovations at Columbus Center, a 263,000-square-foot office and retail complex in Coral Gables. USAA Real Estate, Columbus Center’s majority owner, has partnered up with Patrinely Group to remodel the building’s common areas. Renovations will include updating the front entrance and main lobby, activating the outdoor terrace and modernizing the conference centers. Patrinely Group assumed property management operations at the property in 2020. The firm also oversees leasing, along with Maggie Kurtz, Kevin Gonzalez and Jake Freeman of CBRE. Located at 1 Alhambra Plaza, Columbus Center is situated 5.3 miles from downtown Miami, 3.1 miles from the University of Miami and 4.7 miles from Miami International Airport. The property is also situated 11.9 miles from Miami Beach.

March 10, 2022

Development Multifamily New York Northeast

Greystar Breaks Ground on 500-Unit Multifamily Project in White Plains, New York

by Taylor Williams March 10, 2022

WHITE PLAINS, N.Y. — South Carolina-based developer Greystar has broken ground on 25 North Lex, a 500-unit multifamily project located in the downtown area of White Plains, a northern suburb of New York City. Designed by Handel Architects LLP, the transit-served, high-rise property will house one-, two- and three-bedroom units, as well as 19,000 square feet of ground-floor retail space. Amenities will include a fitness center with yoga/spin studios, study rooms, a children’s play area, sports/media lounge, pet run and spa and a rooftop lounge. Completion is slated for the first half of 2024.

March 10, 2022

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