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Development

Build-to-RentDevelopmentMidwestMinnesota

PCCP, Watermark to Develop 89-Unit Build-for-Rent Community in Woodbury, Minnesota

by Kristin Harlow

WOODBURY, MINN. — A joint venture between PCCP and Watermark Cos. has unveiled plans to develop Canvas at Woodbury North, an 89-unit build-for-rent (BFR) community in Woodbury near St. Paul. The development team plans to deliver the first homes in fall 2022, with final completion slated for fall 2023. The project marks the joint venture’s second BFR community on the east side of the Twin Cities. The unit mix will consist of two-, three-, four and five-bedroom floorplans ranging from 1,200 to 2,966 square feet. All homes will feature washers and dryers, two-car garages, backyards, smart home technology, pet retreats and package drop-off boxes. Residents will have access to a clubhouse, fitness center, pool and dog park.

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DevelopmentIndustrialTexas

Green Point Property to Develop 3 MSF Industrial Park in Georgetown, Texas

by Taylor Williams

GEORGETOWN, TEXAS — Dallas-based Green Point Property Co. will develop GTX Logistics Park, an industrial project in the northern Austin suburb of Georgetown that will ultimately consist of roughly 3 million square feet of space on a 231-acre site. Phase I of the project will center on a 409,822-square-foot warehouse that will have 36-foot clear heights, 66 dock doors and 2,500 square feet of office space. Completion of this building, which will be located within a Qualified Opportunity Zone, is slated for the third quarter of 2022. Colliers has been tapped to lease GTX Logistics Park. Clint Coe, Chris McColpin and Dom Espinosa of JLL arranged construction financing through Community Bank of Texas on behalf of Green Point.  

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EpicCentral-Grand-Prairie
DevelopmentHospitalityTexas

City of Grand Prairie, Concord Hospitality Break Ground on Two Hotels Totaling 276 Rooms

by Taylor Williams

GRAND PRAIRIE, TEXAS — The City of Grand Prairie, located roughly midway between Dallas and Fort Worth, and North Carolina-based operator Concord Hospitality have broken ground on two hotels totaling 276 rooms. The Hilton Garden Inn will total 129 rooms and will offer a restaurant, pool, fitness center and business services. The Homewood Suites will consist of 147 suites with full kitchens and multiple formats, as well as two restaurants and a convention center with a 10,000 square-foot ballroom that connects to the hotel. Merriman Anderson designed the hotels, both of which are located within the 170-acre EpicCentral mixed-use development and will connect to the existing development via walkways and two pedestrian bridges. The openings are scheduled for 2023.

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DevelopmentSingle-Family RentalTexas

Christopher Todd to Develop 316-Unit Single-Family Rental Community in Denton

by Taylor Williams

DENTON, TEXAS — Christopher Todd Communities will develop a 316-unit single-family rental community in Denton. Homes will come in one-, two- and three-bedroom formats and will range in size from 750 to 1,250 square feet. Amenities will include a pool, fitness center and a dog park. David Davidson Jr., Edward Bogel and Ryan Turner of Davidson & Bogel Real Estate brokered the sale of the land. Construction is scheduled to begin in the second quarter, with the first move-ins slated for late 2023.

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Lehigh-Hills-Upper-Macungie-Pennsylvania
DevelopmentMultifamilyNortheastPennsylvania

KRE Group, Silverman Begin Leasing 273-Unit Apartment Community in Lehigh Valley

by Taylor Williams

UPPER MACUNGIE, PA. — Kushner Real Estate Group (KRE) and The Silverman Group have begun leasing a 273-unit apartment community in the Lehigh Valley community of Upper Macungie. Lehigh Hills features one- and two-bedroom units that are furnished with granite countertops, stainless steel appliances and individual washers and dryers. Amenities include a pool, outdoor grilling and picnic areas, fitness center with a yoga studio, conference room, lounge areas, package lockers, tot lot and a dog park. Rents start at $1,975 per month for a one-bedroom apartment. Move-ins are scheduled to begin in January.

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AcquisitionsArizonaDevelopmentWestern

Shopoff Realty, Contour Purchases 54-Acre Site in Buckeye, Arizona for Industrial Development

by Amy Works

BUCKEYE, ARIZ. — Shopoff Realty Investments and Contour Real Estate have acquired 54 acres of land in Buckeye for the development of two warehouse logistics-oriented buildings. Terms of the transaction were not released. Located at the southeast corner of Southern Avenue and Rainbow Road, the proposed development will feature 900,000 square feet of warehouse space. Additionally, the property is located immediately adjacent to the Union Pacific rail line.

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DevelopmentGeorgiaMixed-UseSoutheast

Georgetown, RocaPoint to Develop 1 MSF Mixed-Use Project in Atlanta’s Central Perimeter District

by John Nelson

ATLANTA — New York City-based The Georgetown Co. and affiliates of Atlanta-based RocaPoint Partners plan to co-develop Campus 244, a mixed-use development in Atlanta’s Central Perimeter submarket that will exceed 1 million square feet in size. Situated on 12.8 acres near the Dunwoody MARTA station, the first phase of Campus 244 will include an adaptive reuse of an existing office building into a five-story, 400,000-square-foot building. The office building formerly was the headquarters of Gold Kist, a chicken producing company. Building features include 15-foot ceilings, private outdoor terraces, balcony space and 90,000-square-foot floor plates. Additionally, the building has amenities focused on health and wellness, such as HVAC systems, touchless elevator and restroom technologies, open staircases and operable windows. In addition to the adaptive reuse office building, the first phase will include a 145-room Element Hotel, which is part of Marriott International’s Bonvoy portfolio of 30 brands. The hotel will feature a lobby bar, greenspace and areas to gather for meetings, remote work and collaboration. The Campus 244 property will also have 25,000 square feet of restaurant space. S9 Architecture, the architectural firm responsible for the adaptive reuse design of Ponce City Market in Atlanta’s Old Fourth Ward district, will handle …

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DevelopmentLeasing ActivityMixed-UseOfficeRetailSoutheastTennessee

KBS Signs Three Tenants, Completes Renovations at 175,262 SF McEwen Building in Metro Nashville

by John Nelson

FRANKLIN, TENN. — KBS has signed three new tenants at The McEwen Building, a 175,262-square-foot office and retail property in Franklin, about 21.5 miles south of Nashville. Together the three tenants occupy 66,611 square feet. One of the new tenants, Kaiser Aluminum Corp., a global aluminum supplier, has committed to 27,356 square feet of office space. Kaiser will be relocating its corporate functions from Foothill Ranch, Calif. American Renal Associates LLC, a Massachusetts-based dialysis clinic operator, signed a 26,695-square-foot lease. Lastly, an undisclosed financial institution based locally signed a lease for 12,560 square feet, which includes 1,290 square feet for retail and 11,270 square feet of first-floor office space. The lease transaction occurred after KBS made investments to the property, including the completion of 24,130 square feet of built-out spec suite space and upgrades to the first and second floor lobbies, restrooms, coffee bar and café. Blake Newton of Cushman & Wakefield represented KBS in the recent leasing transactions. Rick Sherburne, Wesley Sherburne and Taylor Hillenmeyer of CBRE represented Kaiser Aluminum Corp., Tom Hooper of JLL represented American Renal Associates and Shane Douglas of Colliers represented the local financial institution in the negotiation of the leases. KBS also completed a …

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DevelopmentLeasing ActivityRetailSoutheastTennesseeTop Stories

Dollar General to Open 1,000 New Popshelf Stores by End of 2025

by Kristin Harlow

GOODLETTSVILLE, TENN. — Dollar General (NYSE: DG) has unveiled plans to open approximately 1,000 new Popshelf stores by the end of fiscal year 2025, including roughly 100 stores in fiscal year 2022. Each Popshelf store spans approximately 9,000 square feet and offers seasonal and home décor, health and beauty products, cleaning supplies and party goods. The target customer is primarily female, lives in the suburbs and maintains an annual household income ranging from $50,000 to $125,000, according to the retailer. Dollar General, which is based in Goodlettsville near Nashville, debuted the Popshelf concept last fall and opened its first two stores in Tennessee in October 2020. At the end of its fiscal third quarter, Dollar General operated 30 Popshelf stores in six states and 14 store-within-a-store formats, which combine the offerings of Popshelf with DG Market, a larger footprint store that focuses on groceries. By February 2022, Popshelf is on track for 50 stores, as well as up to 25 store-within-a-store formats. “Throughout Popshelf’s first year, we’ve been very pleased by the customer demand for the concept’s on-trend merchandise, price points and shopping experience,” says Emily Taylor, Dollar General’s executive vice president and chief merchandising officer. “Popshelf is an integral …

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1158-Delaware-St-Denver-CO
ColoradoDevelopmentMultifamilyWestern

Summit Capital, Rockefeller Group to Develop 250-Unit Multifamily Property in Denver

by Amy Works

DENVER — A joint venture between Summit Capital Venture Group and Rockefeller Group has purchased a land parcel at 1158 Delaware St. in Denver’s Golden Triangle neighborhood for the development of an apartment community. Slated to break ground in April 2022, the property is scheduled for completion in early 2024. The community will feature 250 apartments, 2,000 square feet of ground-floor retail space, a 2,000-square-foot fitness center and pool lounge, and a 4,200-square-foot terrace with a pool and spa on the fifth floor. Additionally, the property’s 13th floor will feature a 1,250-square-foot sky deck and an 850-square-foot sky lounge and co-working space.

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