TEJON RANCH, CALIF. — Tejon Ranch Co. has formed a joint venture with Majestic Realty Co. to develop up to 495 apartments on the east side of the Tejon Ranch Commerce Center (TRCC) immediately adjacent to the Outlets at Tejon. Situated on 22 acres, the project will transform TRCC into a mixed-use community offering live, work and play opportunities. Offering a mix of studio, one- and two-bedroom apartments, the development will also feature a mixed-use town square joined with a Main Street feature, a clubhouse, fitness facilities, pool area and paseos that will provide walkable connectivity throughout. Construction is slated to begin in late 2022, with delivery of the first units approximately 12 months later at the end of 2023.
JOHNSTOWN, COLO. — Buc-ee’s has unveiled plans to enter the Colorado market with a travel center in Johnstown, approximately 60 minutes north of Denver. The development, which is the company’s first location outside of the South, is set to open in 2024. Located south of Weld County Road 48 and west of Interstate 25, the 74,000-square-foot Buc-ee’s Johnstown will offer 120 fueling positions and a store with thousands of snack, meal and drink options, including Texas barbecue, homemade fudge, kolaches, jerky and fresh pastries, for travelers. The location will be the most western and highest altitude Buc-ee’s to date. Founded in 1982, Buc-ee’s has 35 stores across Texas. The company begin its multi-state expansion in 2019 and now has locations in Florida, Georgia, Alabama, South Carolina, Kentucky and Tennessee.
TAMPA, FLA. — Stonemont Financial Group has plans to develop two industrial projects in the Tampa area comprising two warehouses in Tampa and four warehouses in Lakeland. The two projects will total 1.3 million square feet. JLL is overseeing leasing. Frampton Construction is the general contractor for both projects. In Tampa, Stonemont will break ground this spring on Sunlake Business Center, which will encompass two speculative rear-load facilities located along State Road 54. Building 1 will total 190,000 square feet and will feature 32-foot clear heights and 309 parking spots. Building 2 will be a 171,000-square-foot building with 32-foot clear heights and 231 parking stalls. The two facilities are designed to accommodate a range of user types and sizes. In Lakeland, Stonemont is also underway on Lakeland Commerce Center at County Line, an industrial park that will include a 148,100-square-foot building; 150,600-square-foot rear-load facility; 258,000-square-foot rear-load facility; and a 348,740-square-foot cross-dock facility situated on the Interstate 4 corridor just over 30 miles outside of Tampa. The development will include clear heights ranging from 32 to 36 feet, a total of 254 dock doors, 840 parking spaces and 450 trailer parking stalls available onsite.
SAN ANTONIO — Triten Real Estate Partners, a developer with offices in Houston and Dallas, will build Connection Park Logistics Center, a 490,083-square-foot industrial project that will be located on the east side of San Antonio. The site, which spans 32 acres at 6851 Cal Turner Drive, will offer proximity to Interstate 10 and Loop 410, as well as the industrial facilities of major users like Amazon, Dollar General and H-E-B. Construction of the Class A, cross-dock building is scheduled to begin by the end of the first quarter and to be complete by the end of the year.
ATHENS, GA. — Austin, Texas-based Lincoln Ventures has plans to break ground on 558 West Broad, a 750-bed community located near the University of Georgia campus in Athens. 558 West Broad will be a 600,000-square-foot property that offers 342 units in one-, two-, three-, four- and five-bedroom floorplans. All units will be fully furnished. Community amenities will include a full-service coffee shop, swimming pool, wellness center, residential lounge, private study rooms, study lounge, fitness center with yoga and spin studios, bike storage and a pet grooming station. Construction on the project is set to begin in June with delivery scheduled for fall 2024. Athens-based Smith Planning Group is the civil engineer and landscape architect. Niles Bolton Associates is the design firm, and Variant will work on interior design. Rabren General Contractors will oversee construction of 558 West Broad.
PISCATAWAY, N.J. — Indianapolis-based Duke Realty (NYSE: DRE) has broken ground on a 216,892-square-foot speculative industrial project that is located on a 21-acre site at 1570 S. Washington Ave. in the Northern New Jersey community of Piscataway. Building features include a clear height of 40 feet, 34 dock doors, 38 trailer parking spaces and 125 car parking spaces. Completion is slated for the fall. Colliers represented Duke Realty in its site selection and acquisition of the land and has also been retained to lease the property.
MOUNTAIN LAKES, N.J. — Sunrise Senior Living has opened Sunrise of Mountain Lakes, a 99-unit assisted living and memory care facility located in the Northern New Jersey borough of Mountain Lakes. Nearby medical support is available to support care coordination and wellness though Saint Clare’s Denville Hospital and Morristown Medical Center. Information about starting rents was not disclosed.
BOSTON — Indianapolis-based pharmaceutical giant Eli Lilly & Co. has unveiled plans for a $700 million institute for genetic medicine in Boston’s Seaport District. The opening is slated for 2024. The company has signed a 334,000-square-foot lease at 15 Necco St., a 12-story healthcare and life sciences building that Alexandria Real Estate Equities (NYSE: ARE) is developing. At the facility, Lilly will develop genetic medicines with a range of applications, including diabetes, immunology and central nervous system research. Curtis Cole, John Carroll III, Evan Gallagher, Tim Allen and Caitlin Mahoney of Colliers represented Eli Lilly in the deal. The site will also include a shared space modeled after Lilly Gateway Labs in San Francisco to support biotech startups in the Boston area. This area will afford users access to dedicated and configurable lab and office space and opportunities for collaboration with Lilly scientists. These companies are expected to generate as many as 150 additional new jobs once the space is fully occupied. The investment follows Lilly’s 2020 Prevail Therapeutics initiative, which centered on the launch of a gene therapy facility in New York City. Lilly projects that within five years, employment at the Boston facility will grow from 120 to …
NASHVILLE, TENN. — The Preiss Co. has broken ground on Signature Music Row, a 105-unit multifamily project in Nashville. Raleigh-based Preiss partnered with Speedwagon Capital Partners on the development, and JLL arranged an undisclosed amount of construction financing through Memphis-based First Horizon. The construction timeline for the project was not disclosed. Signature Music Row will include studio, one-, two- and three-bedroom floorplans. The property will have 3,000 square feet of amenity space including a clubhouse, leasing office and fitness area. The property will also feature a sky lounge overlooking Music Row. Unit features will include Corian countertops with tile backsplash, two-tone cabinetry, stainless steel appliances, wood plank flooring throughout the unit and LED ceiling fans in each bedroom and living room. Located in Nashville’s Music Row submarket, the new development is situated near Vanderbilt University and The Vanderbilt University Medical Center. The property is also close to Bridgestone Arena and the Country Music Hall of Fame.
ARLINGTON, TEXAS — Austin-based developer OHT Partners has broken ground on Lenox Cooper, a 270-unit multifamily project in Arlington. Lenox Cooper will offer studio, one- and two-bedroom units and amenities such as a pool, outdoor grilling and dining areas, a 24-hour fitness center, shared work studio and a dog run with a washing station. OHT’s in-house team will serve as the general contractor for the project, which is slated to open by the end of the year. Other project partners include Architecture Demarest (architect of record), KFM Engineering (civil engineer), MEP Delta Design (mechanical engineer), United Structural Consultants (structural engineer) Ink +Oro (interior design) and Blu Fish Collaborative (landscape design).