Development

Lowe Property Group, MVE + Partners Open Dixon Place Apartment Community in Salt Lake City

by Amy Works February 2, 2022

SALT LAKE CITY — Lowe Property Group, along with MVE + Partners as designer, has opened Dixon Place, a 49,049-square-foot mixed-used multifamily property in Salt Lake City. Located at 1034 E. Elm Ave., Dixon Place features 35 one-bedroom and 24 two-bedroom units with full kitchens and bathrooms, as well as washers/dryers. The property also includes 2,200 square feet of ground-floor commercial space. Community amenities include a business lounge and conference room for remote workers, a fitness center, bike storage, Bark Park for pets, electric vehicle charging stations, a coffee bar and pool table.

February 2, 2022

Development Midwest Multifamily Ohio

Milhaus Breaks Ground on $43M Apartment Development in Springdale, Ohio

by Kristin Harlow February 1, 2022

SPRINGDALE, OHIO — Milhaus has broken ground on Array, a $43 million apartment development in the Cincinnati suburb of Springdale. The 216-unit project, situated at 11911 Sheraton Lane, will include amenities such as a dog park, resident lounge, communal kitchen, pool, fitness center, conference rooms, coworking spaces and rentable office space. The project team includes architect M+A Architects, interior designer Studio 5 and engineer Bayer Becker. Completion is slated for March 2023.

February 1, 2022

Development Kansas Midwest Restaurant Retail

IHOP, Paris Baguette to Open Near Oak Park Mall in Overland Park, Kansas

by Kristin Harlow February 1, 2022

OVERLAND PARK, KAN. — IHOP and Paris Baguette will open new locations at a pad development site fronting Oak Park Mall in Overland Park. Currently, a 34,371-square-foot office building is undergoing demolition to make way for the construction of the new pad development. IHOP will occupy 4,500 square feet and Paris Baguette will lease 1,500 square feet of the 6,000-square-foot building. Additionally, negotiations are underway with a national bank to occupy the corner pad. Alex Block of Block & Co. Inc. Realtors represented the tenants, while colleagues Daniel Brocato and David Block represented ownership. Paris Baguette is a rapidly expanding bakery café concept with dozens of locations nationwide. This will be the first location in metro Kansas City for the brand.

February 1, 2022

Colorado Development Loans Multifamily Western

Realty Capital Residential, Lang Partners Receive $54.5M Construction Loan for Tree Farm Lofts in Basalt, Colorado

by Amy Works February 1, 2022

BASALT, COLO. — Dallas-based Realty Capital Residential and Lang Partners have secured a $54.5 million construction loan for the development of Tree Farm Lofts in Basalt. JLL Capital Markets arranged the construction financing, which was provided by Andy Kolos of Wintrust’s Denver Commercial Real Estate office. Located within the 40-acre Tree Farm mixed-use development, the six-building community will feature 196 apartments, ranging from 485 square feet to 1,110 square feet, in a mix of studios, one-bedroom, two-bedroom and co-living floor plans. Forty of the apartments will be designated as affordable. Community amenities will include co-working office space, an outdoor terrace with firepits, a resort-style pool, hot tubs, a grill area, clubhouse with a fitness center, pet wash and bike, kayak and ski storage. Construction is underway, with completion scheduled for July 2024.

February 1, 2022

Arizona Development Multifamily Western

High Street Residential, PGIM Break Ground on 192-Unit Raintree Multifamily Community Near Phoenix

by Amy Works February 1, 2022

SCOTTSDALE, ARIZ. — High Street Residential and its joint venture partner PGIM Real Estate have broken ground on Raintree Multifamily, an apartment community in Scottsdale. Slated for completion in 2023, the five-story residential building will feature 192 apartments. The new development, which will receive a formal name at a later date, is situated next to Trammell Crow Co. and PGIM’s 175,000-square-foot Axis Raintree office building that was completed in January 2021. High Street Residential is a multifamily subsidiary of Trammell Crow. Units at the multifamily property will range in size from junior one-bedrooms to two-bedrooms and feature built-in workstations in select homes, quartz countertops, stainless steel appliances and large outdoor patios. Community amenities will include a sky lounge, an outdoor courtyard, a large amenity park with dog run, work-from-home area with ample individual workspaces, pool, spa, fitness center and pet lounge. ESG Architects is serving as architect and Weitz Co. is serving as general contractor for the residential portion of the development. High Street/Trammell Crow and PGIM purchased the entire 8.24-acre parcel of land in 2019 and began construction on Axis Raintree in October 2019. The office building is complete and available for lease, with CBRE marketing the asset.

February 1, 2022

Development Hospitality Mixed-Use Multifamily Office Restaurant Retail Texas Top Stories

Inspire Development Breaks Ground on $2B Mixed-Use Campus in Northwest Austin

by John Nelson February 1, 2022

AUSTIN, TEXAS — Inspire Development, an Austin-based developer of residential and commercial properties, has broken ground on the first phase of Pearson Ranch, a new mixed-use campus in northwest Austin. The $2 billion project will include 2.6 million square feet of new office space; 200,000 square feet of stores, restaurants and community and cultural spaces; two hotels; thousands of high-end residences; and 30 acres of park land. Phase I of Pearson Ranch will span 41 acres and feature approximately 600,000 square feet of office space, three high-end apartment communities and some lifestyle retail space. “We worked very closely with our team to create a plan that tightly knits the past, present and future into the most compelling land plan possible,” says Brett Ames, managing principal of Inspire Development, as well as president and CEO of Austin-based Ames Design Build. “Frankly, we feel a true sense of obligation to get it fully right.” The Pearson Ranch site is located on 156 acres at the corner of State Highway 45 and West Parmer Lane, which is approximately two miles north of Apple’s new $1 billion corporate campus. Other nearby employers include Dell, PayPal, Amazon and Visa. Pearson Ranch will include a 48-acre …

February 1, 2022

Acquisitions Development Florida Industrial Southeast

Joint Venture Purchases 115-Acre Parcel in Jupiter, Florida for Industrial Development

by Julia Sanders January 31, 2022

JUPITER, FLA. — A joint venture between PCCP LLC, Woodmont Industrial Partners and Butters has purchased 115 acres in Jupiter. The site is situated within Palm Beach Park of Commerce, a 1,200-acre master-planned industrial park located 23 miles northwest of West Palm Beach. The seller and sales price for the land were not disclosed. The parcel is zoned for industrial use and the site plan approval is now in process. The joint venture plans to develop eight industrial buildings totaling approximately 1.5 million square feet at the site. The speculative project will feature concrete tilt-up construction, and the first two buildings for development will include a 301,145-square-foot warehouse with anticipated completion in January 2023 and a 50,094-square-foot warehouse anticipated for completion in July 2023. Palm Beach Park of Commerce is home to more than 70 businesses and 1,400 employees with tenants including Amazon, Walgreens, CSX and McLane. The site is situated close to the Florida Turnpike and Interstate 95.

January 31, 2022

Development Office Texas

CREA Completes 172,000 SF Eastlake at Tillery Office Project in Austin

by Taylor Williams January 31, 2022

AUSTIN, TEXAS — Cypress Real Estate Advisors has completed Eastlake at Tillery, a 172,000-square-foot office project in East Austin. The complex consists of two three-story buildings and an adjacent parking structure. Amenities include a fitness center, prep kitchen and multiple outdoor gathering spaces. Construction began in December 2019. Delineate Studio designed the project, and Harvey Cleary served as the general contractor. AQUILA Commercial is the leasing agent.

January 31, 2022

Development Office Texas

Quadrant, FCP to Develop 120,286 SF Office Building in Dallas Design District

by Taylor Williams January 31, 2022

DALLAS — A partnership between Texas-based Quadrant Investment Properties and Maryland-based FCP will develop a 120,286-square-foot office building at 1333 Oak Lawn Ave. in the Dallas Design District. The development will feature a five-story parking garage and amenities such as a fitness center, basketball court, community lounge, two terraces and a ground-floor restaurant. Completion is slated for the third quarter of 2023. Transwestern will market the building for lease.

January 31, 2022

Development Industrial Kentucky Southeast

Kroger, Ocado to Open 50,000 SF Fulfillment Center in Louisville

by Julia Sanders January 31, 2022

LOUISVILLE, KY. — The Kroger Co. has plans to open a 50,000-square-foot delivery spoke facility in Louisville. The Cincinnati-based grocer has partnered with Ocado Group, a UK-based technology company, to operate the facility. The property will collaborate with Kroger’s Customer Fulfillment Center in Monroe, Ohio. Additionally, the Louisville property will serve as a cross-dock to connect customers with fresh food by using a combination of vertical integration, machine learning and robotics. The project is expected to become operational later this year and will employ up to 161 full-time associates.

January 31, 2022

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