Development

PANCOR Begins Construction of $20M Headquarters for Maybach in Elgin, Illinois

by Kristin Harlow September 2, 2022

ELGIN, ILL. — PANCOR has begun construction of the new $20 million headquarters for Maybach International Group in Elgin. The 62,000-square-foot project will be situated on 12 acres at 1384 Madeline Lane. Completion is slated for 2023. Plans call for roughly 47,000 square feet of warehouse and repair space and 15,000 square feet of office space. The building will feature a clear height of 24 feet, 28 docks, 10 drive-in door docks, 57 car parking spaces and 206 trailer parking spaces. Maybach is a logistics company currently based in Alsip. Kelly Disser and Mike Freitag of NAI Hiffman assisted Maybach in the site selection process. The duo consulted on the facility’s design, construction timeline and budget alongside Peter Kenny, director of project services with Hiffman National.

September 2, 2022

Colorado Development Multifamily Seniors Housing Western

OZ Architecture Completes Design of The Reserve at Lone Tree Seniors Housing Community in Colorado

by Jeff Shaw September 2, 2022

LONE TREE, COLO. — OZ Architecture has completed the design of The Reserve at Lone Tree, a seniors housing community located within the RidgeGate master-planned community in Lone Tree. Experience Senior Living Development (ESLD), a NexCore company, is a partner on the project. The community will offer 124 independent living units in a nine-story building alongside 60 assisted living and 24 memory care units in an attached five-story building. The project is scheduled break ground in fourth-quarter 2022, with anticipated completion in 2024. Independent living units will be up to 1,930 square feet, while assisted living apartments will range between 430 and 1,100 square feet. RidgeGate spans 3,500 acres southeast of Denver and includes the RidgeGate Parkway Regional Transportation District (RTD) station, as well as more than 1,000 acres of parks to support an active lifestyle.

September 2, 2022

Colorado Development Life Sciences Top Stories Western

PMB, Montgomery Street Partners Plan $280M Coal Creek Innovation Park Life Sciences Development in Superior, Colorado

by Jeff Shaw September 2, 2022

SUPERIOR, COLO. — PMB, in partnership with Montgomery Street Partners, has unveiled plans for Coal Creek Innovation Park, a $280 million speculative life sciences development in downtown Superior. Totaling 365,000 square feet between Denver and Boulder, the park will be the first speculative purpose-built life sciences project in Boulder County, according to the developers. Initial plans for the project include three office/lab buildings ranging in size from 85,000 square feet to 150,000 square feet, and a fourth building with ground-floor retail space, amenities and structured parking. The buildings will offer 16-foot floor-to-floor heights and flexible infrastructure to accommodate office, lab and R&D uses. Shared lab services, including RODI (reverse osmosis deionized) water, dedicated laboratory water, compressed air, glass wash and a lab waste system, will be available to all tenants. Additionally, the project will have a gym with showers, bike rooms and shared conference facilities. “Life sciences companies are looking to the Boulder/Denver region as a place where they can plant their flag or grow their operations,” says Erik Abrahamson, senior vice president at CBRE. “They are attracted to Colorado’s highly educated and skilled workforce and ecosystem of educational and research institutions. While historically it has been difficult to find available lab space in Boulder County, projects like …

September 2, 2022

Development Florida Multifamily Southeast

Empira Group to Develop 85-Unit Apartment Community in Miami

by John Nelson September 1, 2022

MIAMI — Swiss investment firm Empira Group has purchased a half-acre site west of Miami’s Brickell district for the development of CoralGrove Brickell, an 85-unit apartment community. The asset will be situated in the city’s The Roads neighborhood upon completion, which is anticipated for 2025. Max La Cava, Simon Banke and Danielle Fernandez of JLL brokered the land sale on behalf of the seller, an unnamed investment firm based in South America. Empira plans to demolish the existing apartments on the site by the end of the year and break ground on the new apartment project in the second half of 2023. Designed by Revuelta Architecture International, CoralGrove Brickell will comprise one-, two-, and three-bedroom apartments, as well as a fitness center, rooftop pool, gourmet kitchen and a game room. The property will also feature 900 square feet of retail space on the ground floor.

September 1, 2022

Development Industrial Texas

GAF Energy to Open 450,000 SF Solar Roofing Manufacturing Plant in Georgetown, Texas

by Taylor Williams September 1, 2022

GEORGETOWN, TEXAS — GAF Energy, a San Jose, Calif.-based provider of solar roofing products, will open a 450,000-square-foot manufacturing plant in the northern Austin suburb of Georgetown. The facility is expected to add about 260 new jobs to the local economy. According to Hello Georgetown, construction is underway and expected to be complete in summer 2023, with the plant becoming fully operational by the end of that year. The local news outlet also reports that Atlanta-based Portman Industrial is leading the development of the facility in conjunction with design-build firm ARCO/Murray. In announcing the project, GAF executives cited Georgetown’s rapid population growth as a driver of a strong labor pool, as well as the city’s track record on green energy initiatives.

September 1, 2022

Acquisitions Build-to-Rent Development Single-Family Rental Texas

Empire Group Acquires 30.6 Acres in Metro Austin for Build-to-Rent Residential Project

by Taylor Williams September 1, 2022

HUTTO, TEXAS — Arizona-based developer Empire Group of Cos. has acquired 30.6 acres in the northern Austin suburb of Hutto for the construction of a 276-unit build-to-rent residential project. Josh Cameron and Hal Guggolz of Land Advisors Organization brokered the $11 million sale of the land. Village at Hutto Station will offer one-, two- and three-bedroom homes with private backyards, and residential amenities will include a pool, outdoor grilling areas, fitness center, walking paths, community clubhouse and a dog park. Construction is set to begin in the first quarter of 2023.

September 1, 2022

Development Life Sciences Massachusetts Northeast

Thermo Fisher Opens 300,000 SF Life Sciences Facility in Plainville, Massachusetts

by Taylor Williams September 1, 2022

PLAINVILLE, MASS. — Thermo Fisher Scientific, which researches and manufactures gene therapy treatments, has opened a 300,000-square-foot life sciences facility in Plainville, located near the Massachusetts-Rhode Island border. Thermo Fisher will use the facility, which will contain lab, manufacturing and distribution space, for the production and testing of viral vectors, which are key components of gene therapy treatments. The project is expected to bring about 300 new jobs to the local economy. With the opening of the Plainville site, Thermo Fisher now operates 15 facilities and employs more than 3,500 people throughout Massachusetts.

September 1, 2022

Development Illinois Industrial Loans Midwest

Logistics Property Co. Receives $150M Construction Loan for Multi-Story Warehouse in Chicago

by Kristin Harlow September 1, 2022

CHICAGO — Logistics Property Co. (LPC) has received a $150 million loan for the construction of a multi-story warehouse at 1237 W. Division St. in Chicago. The project will span 1.2 million square feet of logistics space across two floors. Plans call for both rooftop parking and an adjacent five-story parking garage. The development will include direct loading on both the first and second floors, each with a 135-foot truck court. The first floor will feature a clear height of 36 feet, 28 dock doors and two drive-in doors. The second floor, which will be accessible by 53-foot tractor trailers via separate up and down ramps, will feature a clear height of 33 feet, 28 dock doors and two drive-in doors. The project marks the first multi-story warehouse in Chicago, according to LPC. A timeline for completion was not disclosed. Wells Fargo led the financing, along with Inland Bank and Trust and Associated Bank. Michael Svets and Jeff Goodman led the financing on behalf of Wells Fargo.

September 1, 2022

Build-to-Rent Development Midwest Ohio

Coastal Ridge Real Estate to Develop Build-to-Rent Community With 230 Homes in Central Ohio

by Kristin Harlow September 1, 2022

PLAIN CITY, OHIO — Coastal Ridge Real Estate has unveiled plans to build 230 build-to-rent homes at Jerome Village, a master-planned community developed by Nationwide Realty Investors in Plain City, a northwest suburb of Columbus. The project will be developed under Coastal Ridge’s Stillwell brand, which launched earlier this year with build-to-rent communities in Florida and Texas. A joint venture partnership between Coastal Ridge and Halstatt Real Estate Partners is developing Stillwell Jerome, completion of which is slated for 2023. Columbus-based Hallmark Construction is the general contractor. Stillwell Jerome will feature one-, two- and three-bedroom homes with first-floor private entries and individual backyards. Residents will have access to a pool, clubhouse, walking trails, outdoor seating areas and a fitness center.

September 1, 2022

Development Michigan Midwest Retail

Gillespie Group to Redevelop Former Sears Property in Lansing, Michigan

by Kristin Harlow September 1, 2022

LANSING, MICH. — Gillespie Group has unveiled plans to redevelop a former Sears Roebuck location at 3131 E. Michigan Ave. in Lansing. The property is being marketed as ROECO, a retail and entertainment destination. Specific redevelopment plans have yet to be finalized. The name ROECO is a nod to Sears Roebuck, which occupied the property for 66 years. Most recently, Sparrow Health System utilized the site for COVID testing. Gillespie Group is working with CBRE to secure retailers, restaurants and entertainment concepts for the redevelopment project. The timeline and final product mix are subject to change.

September 1, 2022

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