BOSTON — MassDevelopment has issued $53.6 million in tax-exempt bond financing to Washington Pine LLC for the construction of a five-story, 202-unit complex in Boston. Located at 3368 Washington St., the building will house 140 units of supportive housing for individuals transitioning out of homelessness, and the remaining 62 units will be affordable apartments. All residential units will be managed by The Community Builders Inc., while long-term support for all formerly homeless residents will be provided by homeless services provider Pine Street Inn. The project will feature 24/7 front desk security, spaces for resident gatherings, fitness rooms, laundry rooms, a parking garage, two plazas and bike repair and storage. Construction is slated for completion by late 2023. Barings LLC was the corporate bond purchaser.
PHOENIX — GO Industrial has purchased land parcels on the east and west sides of Phoenix for the development of approximately 1.3 million square feet of space in two speculative industrial projects: GO | 99 North and GO | AZ Ave. Located on the west side of Phoenix, GO | 99 North will be a 1.1 million-square-foot facility situated on 70 acres. The building will feature 40-foot clear heights, concrete truck courts, and 217 trailer and 1,315 auto parking stalls. Groundbreaking is slated for third-quarter 2022. The building is the continuation of GO Industrial’s 1.3 million-square-foot GO | 99 industrial project, which is now under construction. Together, the two projects will bring a total of 2.4 million square feet to the area. Located on the East Valley, GO | AZ Ave. will be a 181,655-square-foot building on 10 acres. The facility will feature 32-foot clear heights, concrete truck courts, and 53 trailer and 212 auto parking stalls. Construction is scheduled to begin during the second quarter of 2022. DLR Group is serving as architect for both projects. General contractors have not yet been selected. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield represented GO Industrial in the …
TEMPE, ARIZ. — Holualoa Cos. has released plans for Dwell: A Work @ Home Community at the intersection of Fifth Street and Farmer Avenue in Tempe. The 129-unit workforce community will complete Farmer Studios, a mixed-use development, and provide housing opportunities for residents in downtown Tempe, Arizona State University and other locations. Holualoa purchased the two-acre parcel for $12 million. The residences will be integrated into two existing office buildings and a pocket park onsite to create a mixed-use development. The community will feature live/work-oriented amenity rooms for residents, conference rooms with green screens, private meeting rooms, a fitness center, dog-friendly features and walkable access to light rail, streetcar, restaurants and other amenities. Architekton and Worksbureau are serving as architects for the project.
SPRING VALLEY, NEV. — Alston Construction, as general contractor, has unveiled plans for a 298,389-square-foot industrial facility located at W. Sunset Road and Raphael Riviera Way in Spring Valley, for Ashley Furniture Industries. The project will include tilt-up construction, full-site improvements, paving, concrete and landscaping. The warehouse will offer a retail showroom component and a distribution center. Construction is slated to begin in June 2022, with completion scheduled for July 2023. Hodgdon Group will serve as developer and Robert Jacob will serve as architect.
The famed stability of healthcare and medical office building (MOB) real estate continues in 2022, with the Midwest acting as a microcosm for the sector’s trends and challenges nationwide. Adapting to complement large healthcare system needs, adding urgent care centers and keeping costs low are some of the main concerns for brokers this space. Five healthcare/MOB brokers sat down with REBusinessOnline to discuss what is influencing the sector. Michael Kalil, chief operating officer and director of brokerage, and Jeff Cavazos, senior vice president, NAI Farbman, Southfield, Mich.; Matthew Gregory, senior VP office brokerage, and Michael Simpson, president, NAI Ohio Equities, Columbus, Ohio; and Doug Taatjes, partner/associate broker, NAI Wisinski of West Michigan, Grand Rapids, Mich. weighed in on the present and future of healthcare/MOB real estate. REBusiness: What trends are we going to see in healthcare in 2022? What factors might influence further investment in this field? Matt Gregory: Improvements to building infrastructure will be the most significant trend in 2022. There will be a push toward better HVAC filtration, higher cleaning standards and so forth. Mike Simpson: Yes, I think the healthy building initiative is something that’s going to pick up more momentum this year. Doug Taatjes: In our …
NEW YORK CITY — H.I.G. Realty Partners, an affiliate of global investment banking firm H.I.G. Capital, has provided a $240 million permanent loan for the refinancing of The Paxton, a 43-story mixed-use development in downtown Brooklyn that is nearing completion. Developed by locally based firm Jenel Real Estate, The Paxton will ultimately feature 327 for-rent residential units, 109,000 square feet of office space and up to 36,000 square feet of retail space. The project is located in the borough’s downtown area, just across both the Brooklyn Bridge and Manhattan Bridge from downtown Manhattan. Marvel Architecture designed the building, full completion of which is slated for the fall. CBRE and RIPCO Real Estate have been tapped to lease The Paxton’s office and retail components, respectively. The tower’s location on Fulton Street is part of a growing area that includes 35,494 residents, 16,501 residential units, 3 million square feet of office space and 1.9 million square feet of retail space. In addition, the area houses 11 higher education institutions with upwards of 60,000 students, as well as over 100 arts and cultural institutions. “We are excited to be a part of such a well-built, well-located property in the growing downtown Brooklyn market,” …
GEORGETOWN, TEXAS — CelLink Corp. has signed a 294,297-square-foot industrial lease at Gateway35 Commerce Center, a master-planned park by Titan Development that is located in the northern Austin suburb of Georgetown. The tenant, which manufactures circuits for batteries used in the automotive and energy storage industries, will occupy the entirety of Building 1 upon completion in June. In addition, CelLink plans to hire between 800 and 2,000 employees over the next 10 years and invest about $130 million in the local economy over the next five years.
ATLANTA — A joint venture between Golub & Co., AB Capital, local entrepreneur Thierry Francois and a client advised by MetLife Investment Management plans to build a two-building apartment community in Atlanta totaling 576 units. The joint venture recently purchased a 5.8-acre development site at 2164 Marietta Blvd. in the city’s Upper West Side submarket for the project. Bruce Armstrong and Joel Sandridge of Chicago-based Golub will oversee the design and construction of the community, along with architectural firm Lord Aeck Sargent. The property will feature an industrial aesthetic, central courtyard and an undisclosed amount of retail space. The joint venture plans to break ground on the unnamed property in the third quarter with delivery of the first phase slated for third-quarter 2023.
CHARLESTON, S.C. — Frampton Construction Co. has broken ground on a “transload” industrial facility near the Port of Charleston spanning 89,000 square feet. The Keith Corp. is developing the property in partnership with the South Carolina Ports Authority on behalf of the tenant, TradePort Logistics. The third-party logistics firm handles cargo for retailers like Walmart, which recently opened its 3 million-square-foot distribution hub nearby. TradePort’s concrete, tilt-up building will feature 20-foot clear heights, 130 dock doors, 630 trailer parking spaces and 110 employee parking spaces, as well as approximately 2,000 square feet of office space. The site is located off Clements Ferry Road. An access road is being built to connect the facility to Charleston Regional Parkway, according to Frampton. Other project members include architect Berenyi Inc. and civil engineer Thomas + Hutton. Frampton expects to deliver the facility this summer.
JERSEY CITY, N.J. — A developer doing business as 400 Claremont LLC has completed 3 Acres, a 629-unit apartment community in Jersey City. Designed by Marchetto Higgins Stieve, the property offers micro studio, studio, one- and two-bedroom units with quartz countertops, stainless steel appliances and individual washers and dryers. Indoor amenities include a fitness center, saunas, conference room, work pods, demonstration kitchen, multi-sport simulator and screening room, resident lounge and a game room with a mini bowling alley. Outside, residents have access to a rooftop terrace with a pool, as well as a dog run and courtyards with dining stations, workout areas and games. The property is roughly 50 percent leased, and rents start at $1,575 per month for a one-bedroom unit.