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Development

Goodyear-AirPark-Goodyear-AZ
ArizonaDevelopmentIndustrialWestern

Lincoln, Harvard Buy 585-Acre Land Site for 7 MSF Goodyear Airpark Industrial Development in Arizona

by Amy Works

GOODYEAR, ARIZ. — A joint venture between Harvard Investments and LPC Desert West, the Southwest regional office of Lincoln Property Co., has acquired a 585-acre land parcel in Goodyear for the development of a Class A industrial park. Situated next to the Phoenix-Goodyear Airport, Goodyear Airpark will feature up to 7 million square feet of industrial space in as many as 20 buildings at build-out. The partnership will break ground on the first phase in first-quarter 2022. The first phase will include more than 1.6 million square feet of space in six buildings ranging from 81,000 square feet to 775,000 square feet. The development will also offer a retail component, providing approximately 10,000 square feet of in-line and retail pad opportunities. The buildings will offer up to 40-foot clear heights, multiple points of ingress and egress, private truck courts and ample parking. The Goodyear AirPark site has a full utilities infrastructure and is zoned for industrial and commercial use. Butler Design Group is serving as architect for the project. LPC Desert West will direct all leasing and property management. The general contractor for the project has not yet been selected. Cerberus Capital Management is the equity partner for LPC and …

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Residences-Rainier-Square-Seattle-WA.
DevelopmentMultifamilyWashingtonWestern

Wright Runstad, J.P. Morgan Open 58-Story Residences at Rainier Square in Downtown Seattle

by Amy Works

SEATTLE — Wright Runstad & Co. and J.P. Morgan have welcomed the first residents of The Residences at Rainier Square in downtown Seattle. Wright Runstad & Co. partnered with institutional investors advised by J.P. Morgan Global Alternative on development of the mixed-use project. The Residences features 189 for-lease apartments, occupying floors 39 through 58 of the mixed-use structure, in a mix of one-, two- and three-bedroom layouts and top-floor penthouse. The property also offers a 40th-floor Sky Lobby, 14,000 square feet of amenity space, a 24/7 concierge service, a Full Swing golf simulator, an indoor grilling station, full-service pet lounge with grooming stations, exercise room, play area and pet relief area. NBBJ served as architect for the community.

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2311-93rd-Ave-Tumwater-WA
DevelopmentIndustrialWashingtonWestern

CRG Breaks Ground on 1.1 MSF Costco Distribution Facility in Tumwater, Washington

by Amy Works

TUMWATER, WASH. — CRG has broken ground on a 1.1 million-square-foot distribution center in Tumwater, approximately 60 miles southwest of Seattle. Costco will own the 79-acre project, located at 2311 93rd Ave. The $160 million build-to-suit project will feature 175 car parking spaces, 418 trailer spaces and 129 dock doors. Construction started in mid-August and completion is slated for August 2022. CRG sourced the land, navigated the entitlement process and provided development services for Costco. Clayco, CRG’s parent company, is constructing the distribution facility, which was designed by Lamar Johnson Collaborative, a subsidiary of Clayco.

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Epicurean Atlanta
DevelopmentGeorgiaHospitalitySoutheast

Mainsail Lodging Opens Epicurean Atlanta Hotel in Midtown District

by Julia Sanders

ATLANTA — Mainsail Lodging & Development has opened Epicurean Atlanta, a 16-story boutique hotel in Midtown Atlanta. The hotel is a member of the Autograph Collection, a group of independent hotels operated by Marriott International. Epicurean Atlanta is the second location of the Epicurean Hotel brand, the first of which was a collaboration between Mainsail Lodging and the Bern’s Steak House in Tampa. Atlanta-based architectural and interior design firm Rule Joy Trammell + Rubio oversaw the new hotel’s design. The Epicurean Atlanta hotel has 178 guest rooms with 22 suites. Hotel amenities include a fitness center with floor-to-ceiling windows, as well as a pool on the ninth level sky terrace that offers temperature-controlled cabanas and butler service. Additionally, there will be wellness activity programming on the events lawn. Located at 1117 West Peachtree St., the hotel is one of three towers within Selig Enterprises’ 1105 West Peachtree mixed-use development. The other two towers in the project include a 31-story office tower and a 64-unit apartment tower called 40 West 12th. Epicurean Atlanta is anchored by three dining concepts: Reverence, the hotel’s signature restaurant that features a 2,886-square-foot space for seating up to 127 guests; Aerial Kitchen & Bar, which will …

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River North
DevelopmentMultifamilySoutheastTennessee

RangeWater Breaks Ground on 353-Unit Apartment Community in Nashville

by Julia Sanders

NASHVILLE, TENN. — RangeWater Real Estate has broken ground on a 353-unit apartment community in Nashville’s River North Development District, a former industrial neighborhood undergoing revitalization. The project is RangeWater’s 100th development. Located at 201 Cowan St., the apartment project will include studio, one- and two-bedroom apartments located close to downtown Nashville and Germantown. When completed, the apartments will have two floors of amenities and a sky lounge with views of downtown Nashville. Community amenities will include a listening lounge with recording equipment for musicians and a pool deck atop a green rooftop space. The apartments will feature nine-foot ceilings and modern finishes with stainless steel appliances, quartz countertops and washer and dryer units in each residence. Groundbreaking will take place this month with first apartment homes delivering spring 2023. RangeWater is an Atlanta-based multifamily real estate company. The apartment project will be RangeWater’s second development in Nashville, with the first being The Gossett on Church in the city’s Gulch neighborhood.

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DevelopmentIllinoisIndustrialMidwest

Bridge Industrial Acquires Land in Mundelein, Illinois, for Development of 320,196 SF Spec Industrial Project

by Kristin Harlow

MUNDELEIN, ILL. — Bridge Industrial has acquired land at 290 Townline Road in Mundelein, a northern suburb of Chicago. The developer plans to build Bridge Point Mundelein, a 320,196-square-foot speculative industrial project. Plans call for 271 car parking stalls, 101 trailer parking stalls, two drive-in doors and a clear height of 36 feet. Located in the Lake County submarket, the infill project offers direct access to the four-way intersection at I-94 and Route 60. Construction is scheduled to begin immediately with completion slated for the third quarter of 2022. Whit Heitman, Sam Badger and Jared Paff of CBRE brokered the land sale.

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DevelopmentIllinoisIndustrialMidwest

PCCP, Transwestern to Build 173,400 SF Spec Industrial Facility in North Aurora, Illinois

by Kristin Harlow

NORTH AURORA, ILL. — A joint venture between PCCP and Transwestern Development Co. is building a 173,400-square-foot speculative industrial facility in North Aurora along the I-88 corridor. Construction is scheduled to begin in October with completion slated for the second quarter of 2022. Situated on nine acres at 950 Ice Cream Drive, the Class A building will feature a clear height of 36 feet, 42 trailer parking stalls, car parking and exterior docks. Transwestern Development currently has 34 industrial projects totaling 18.4 million square feet under construction or in pre-development stages nationwide.

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Clarus-Glen-Ridge
DevelopmentMultifamilyNew JerseyNortheast

JMF Properties Begins Leasing 110-Unit Apartment Complex in Glen Ridge, New Jersey

by Taylor Williams

GLEN RIDGE, N.J. — JMF Properties has begun leasing Clarus Glen Ridge, a 110-unit apartment complex in Glen Ridge, located in Northern New Jersey’s Essex County. The property offers one- and two-bedroom units and amenities such as a fitness center, theater room, parlor with a wet bar, business center, dog park and storage lockers. Rents start at roughly $2,600 per month for a one-bedroom unit. Construction began in May 2019.

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Horseshoe at Hub RTP
DevelopmentMixed-UseNorth CarolinaSoutheast

White Point Unveils Plans for 125,000 SF Horseshoe at Hub RTP Mixed-Use Project in Durham

by Julia Sanders

DURHAM, N.C. — White Point Partners has unveiled plans for a 125,000-square-foot mixed-use development in Durham called Horseshoe at Hub RTP. The name of the development emphasizes the layout of the project, with the buildings’ focus on the central plaza. Sitework at Hub RTP is expected to be completed in the second quarter of 2022, while the $50 million Horseshoe mixed-use project is expected to be complete in the third quarter of 2023. Horseshoe will be at the center of Hub RTP, a two-phase, 100-acre development that the Research Triangle Foundation is master developing within Research Triangle Park. Horseshoe, being built in Phase I of Hub RTP, will feature approximately 25,000 square feet of retail space surrounding an outdoor plaza. The master plan for Hub RTP will deliver up to 1 million square feet of Class A office space, 200,000 square feet of lab and office space, 75,000 square feet of retail and restaurants, up to two hotels and 800 residential units. Horseshoe is situated between Highway 54 and Interstate 40 directly off the Davis Drive exit. The property has 16 acres of greenspace with streamside trails and boardwalks, including a splash fountain and event lawn adjacent to Horseshoe. CBRE …

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DevelopmentIndustrialLeasing ActivityTexas

National Property Holdings Nears Completion of 157-Acre Republic Business Center in Northwest Houston

by Taylor Williams

HOUSTON — National Property Holdings is nearing completion of Republic Business Center, a 157-acre industrial project located at 11333 N. Gessner Road in northwest Houston. The locally based developer has signed two Forbes 100 tenants to occupy the entirety of the property: The Home Depot has committed to 657,600 square feet, and Amazon has committed to 141,360 square feet. The opening of these two new facilities is expected to bring about 1,000 new jobs to the region. Robert Alinger of Colliers International represented the landlord in both sets of lease negotiations.

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