Development

Phase-II-Brown-Field-Tech-Park-San-Diego-CA

Murphy Development Starts Construction of Brown Field Technology Park Phase II in San Diego

by Amy Works November 10, 2022

SAN DIEGO — Murphy Development Co. (MDC) has broken ground on Phase II of Brown Field Technology Park, a 52-acre corporate industrial park in San Diego’s Otay Mesa neighborhood. The second phase will include two speculative industrial buildings: Building 1, a 102,099-square-foot asset, and Building 2, a 101,145-square-foot facility. Completion of the two buildings is scheduled for third-quarter 2023. The buildings will feature 32-foot clear heights, 4,000 amps of 277/480 volt power, manufacturing sewer and water capacity, ESFR sprinklers, concrete truck courts, wide column spacing, and high-dock door ratios designed for distribution users. The buildings will accommodate a variety of tenant needs, ranging in size from 30,000 square feet to 203,244 square feet. Andy Irwin, Joe Anderson and Greg Lewis of JLL are overseeing the leasing of the two buildings.

November 10, 2022

Development Maryland Mixed-Use Southeast

Trademark Completes Renovation of 2 MSF Annapolis Town Center in Maryland

by John Nelson November 10, 2022

ANNAPOLIS, MD. — Trademark Property Co. has completed the renovation of Annapolis Town Center, a mixed-use development in Annapolis spanning 2 million square feet. Whole Foods Market and Target anchor the property, which is also home to retailers including Anthropologie, RH and Paper Source. Trademark’s improvements included the addition of green space and a new community gathering area called Green Village; a climate-controlled paseo for improved connectivity and walkability; improved signage and wayfinding; and art installations from local artists. A number of new tenants are set to open within Annapolis Town Center this year, including True Food Kitchen, Tuscan Prime, Warby Parker, Life Time Fitness, Williams Sonoma, Pottery Barn, GABBY Summer Classics Home, Urbano Mexican Fare, Tempur Sealy and VIBE.

November 10, 2022

Development Florida Multifamily Southeast

Crescent Communities, CP Capital Break Ground on 277-Unit Apartment Development in Tampa

by John Nelson November 10, 2022

TAMPA, FLA. — Crescent Communities and CP Capital US have broken ground on Novel Independence Park, a 277-unit apartment community located in Tampa’s Westshore Business District. The property will serve as the multifamily component of Independence Park, a 44-acre mixed-use development site. Units will feature stainless steel appliances, stone surface countertops and vinyl wood flooring, and amenities will include a fitness center with a private yoga and spin studio, pool deck overlooking a pond, rooftop lounge, indoor-outdoor private events space, dog park, detached garages and a pedestrian nature trail. The site is situated within walking distance to Rocky Point Golf Club, Skyway Sports Complex and the trailhead for the Skyway Park Trail. The design-build team for Novel Independence Park includes architectural firm Dwell Design Studio, landscape architect LandDesign, civil engineer Haiff Associates and interior designer Vignette Interior Design. CBG Construction is serving as the general contractor. The construction timeline was not disclosed.

November 10, 2022

Development Multifamily Texas

Presidium Delivers 290-Unit Multifamily Project in Grand Prairie, Texas

by Taylor Williams November 10, 2022

GRAND PRAIRIE, TEXAS — Texas-based multifamily developer Presidium has delivered Presidium Hill Street, a 290-unit community located in the central metroplex city of Grand Prairie. Designed by Dallas-based O’Brien Architects and situated on 13 acres, Presidium Hill Street offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and various smart home features. Amenities include a pool with cabanas, business center with private coworking spaces, clubroom, fitness center, dog park and a package handling system. Rents start at $1,370 per month for a one-bedroom apartment.

November 10, 2022

Development Retail Texas

Weitzman Completes Renovation of 175,000 SF Willow Bend Market in Plano

by Taylor Williams November 10, 2022

PLANO, TEXAS — Weitzman has completed the renovation of Willow Bend Market, a 175,000-square-foot shopping center located on the northeastern outskirts of Dallas in Plano. The center was originally built in 1997 and is anchored by grocer Tom Thumb, and the reconfiguration of that store represented a major piece of the renovation. Additional upgrades included the enhancement of building electrical systems, parking areas and landscaping, as well as other aesthetic improvements. Willow Bend Market also features an array of food-and-beverage users such as On the Border, Newk’s Eatery, Starbucks Coffee, Einstein Bros. Bagels and Baskin-Robbins.

November 10, 2022

Development Illinois Industrial Midwest

Logistics Property Co. Closes $1.8B Industrial Real Estate Development Fund

by Kristin Harlow November 10, 2022

CHICAGO — Chicago-based Logistics Property Co. (LPC) has closed its second development fund with total equity commitments of $1.8 billion from several global institutional investors and co-investment by LPC. The fund is named LPC Logistics Venture Two LP (Venture II). To date, 35 percent of the fund has been allocated to investments in Atlanta, Chicago, Dallas, Denver, the Inland Empire, Pennsylvania, Phoenix and Southern Jew Jersey. LPC launched its inaugural development fund in August 2019, raising $1 billion of equity commitments. LPC has fully allocated the first fund’s equity to projects representing more than 20 million square feet across the U.S. Similar to the first fund, the goal of Venture II is to buy well-located property in U.S. markets, develop Class A industrial buildings to modern specifications, stabilize the assets, and hold to assemble a geographically diverse portfolio. Earlier this year, LPC began development of five new projects for Venture II totaling 2.3 million square feet. LPC expects to break ground before the end of the year on Palm Gateway Logistics Center in Arizona and to begin construction in 2023 on a 341,000-square-foot development in San Bernardino, Calif. MAM Real Estate, part of Macquarie Group and LPC’s majority shareholder, served …

November 10, 2022

Development Hospitality New York Northeast

Hyatt Opens 296-Room Grayson Hotel in Midtown Manhattan

by Taylor Williams November 10, 2022

NEW YORK CITY — Hyatt Hotels Corp. (NYSE: H) has opened The Grayson, a 296-room hotel located at 30 W. 39th St. in Midtown Manhattan that is part of The Unbound Collection by Hyatt family of brands. Guestrooms feature exposed concrete ceilings, bathrooms with subway tiles and mini-fridges with craft cocktails. In addition, the hotel houses multiple food-and-beverage concepts, as well as a fitness center. Italian architect Marcello Pozzi designed The Grayson, and Fortune Hotel Collection developed and manages the property. Opening preview rates start at $409 per night.

November 10, 2022

Development Massachusetts Multifamily Northeast

Nauset Construction Breaks Ground on 49-Unit Multifamily Project in Cambridge, Massachusetts

by Taylor Williams November 10, 2022

CAMBRIDGE, MASS. — General contractor Nauset Construction has broken ground on 605 Concord, a 49-unit multifamily project that will be located across the Charles River from Boston in Cambridge. Designed by Piatt Associates, the six-story project will include 2,500 square feet of street-level retail space. Floor plans will come in studio, one-, two- and three-bedroom formats, and 15 percent of the units will be designated as affordable housing. Completion is slated for summer 2024.

November 10, 2022

Development Florida Hospitality Mixed-Use Multifamily Restaurant Retail Southeast Top Stories

LD&D Plans $200M Mixed-Use Development in Downtown Tampa

by Jeff Shaw November 10, 2022

TAMPA, FLA. — Miami-based investment, development and design firm LD&D has announced plans for the development of a $200 million mixed-use project in downtown Tampa. The project site, located at 1101 E. Harrison St., comprises two acres within the 40-acre master-planned development district known as ENCORE. LD&D acquired the property from the Tampa Housing Authority (THA). Plans for the project include the construction of a 28-story multifamily building, a 178-room hotel, 32,500 square feet of ground-floor retail space and a 586-space parking podium. Baker Barrios Architects is the designer for the project. Construction is scheduled to commence in the second half of 2023. The residential tower, which the developers say will be the tallest building in the area, will feature 365 units and more than 45,000 square feet of amenity space. Amenities will include a 4,500-square-foot wellness area, 10,000-square-foot coworking space and a 26th-floor sky lounge with views of the city. Hotel and residential uses at the development are to be separated by a pedestrian alleyway, which will be lined with restaurant and retail tenants. Situated blocks from the site of the Amtrak station and potential new Brightline train station that would connect other major cities in the state, the …

November 10, 2022

Development Multifamily Texas

Legend Communities Breaks Ground on 360-Unit Residential Project in Lakeway, Texas

by Taylor Williams November 9, 2022

LAKEWAY, TEXAS — Locally based developer Legend Communities has broken ground on a 360-unit residential project in Lakeway, located northwest of Austin, that will comprise 210 age-restricted multifamily units and 150 single-family homes of various styles. The project, which will also deliver multiple pieces of new infrastructure, represents Phase I of The Square at Lohmans, a $500 million development that will include office, hospitality and retail/restaurant uses. DTJ Design provided architectural services for the project, with Carlson, Brigance & Doering Inc. serving as civil engineer. Completion of Phase I is slated for late fall 2023.

November 9, 2022

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