WHITESTOWN, IND. — The Opus Group has broken ground on a speculative industrial building at AllPoints at Anson, an industrial park in Boone County’s Whitestown, about 25 miles northwest of Indianapolis. The 256,000-square-foot building will feature a clear height of 36 feet, 26 dock doors, four drive-in doors, 219 car parking spots, 33 trailer parking spots and office space. Completion of the 16-acre project is slated for March 2022. Opus is serving as developer, design-builder, interior designer, architect and structural engineer. Luke Wessel of Cushman & Wakefield will market the new building for lease. AllPoints at Anson is a 616-acre industrial park.
CAMBRIDGE, MASS. — Developer DivcoWest has broken ground on a 375,000-square-foot life sciences building at 441 Morgan St. within Cambridge Crossing, a 43-acre mixed-use development located at the junction of Cambridge, Boston and Somerville. Designed by Ennead Architects and Jacobs Consultants, the building will consist of 10 floors of lab space plus two penthouse floors and five outdoor terraces. DivcoWest expects to complete construction of the shell of the building in early 2023 and to subsequently begin interior build-outs of tenant spaces.
SLEEPY HOLLOW, N.Y. — Houston-based Hines has topped off NorthLight at Edge-on-Hudson, a 246-unit multifamily project in Sleepy Hollow, located north of New York City. The property is located within the $1 billion, 70-acre Edge-on-Hudson mixed-use development that includes 16 acres of community parks and a waterfront promenade. Upon completion in the third quarter of next year, NorthLight at Edge-on-Hudson will offer studio, one-, and two-bedroom apartments ranging in size from 565 to 1,406 square feet. Amenities will include a pool, fitness deck, outdoor kitchens, fire pits, open green spaces, outdoor lounge areas, a clubhouse with coworking space, fitness center, kids’ playroom, communal kitchen and a wine lounge. Hines will begin leasing the property in the first quarter of 2022.
NEW YORK CITY — A partnership between Jonathan Rose Cos., L+M Development Partners and Acacia Network has received $223 million in financing for the second and final phase of Sendero Verde, an affordable housing project in East Harlem that will add 347 units to the local supply. The development team topped off the 360 units that were part of Phase I of the project in November. Construction of Phase II is set to begin in the coming weeks and completion is slated for 2024. Units will serve renters at a variety of income levels, from formerly homeless to those who earn 90 percent of the area median income. The property offers residential amenities such as a community room, fitness center, computer lounge and package lockers. Once both phases are completed, Sendero Verde will feature a senior and youth community center, a school, art room, publicly accessible open space, community gardens and neighborhood retail. Financing for Phase II of Sendero Verde included construction loans from the New York City Housing Development Corp. and the New York City Department of Housing Preservation and Development. The project is also being funded through a letter of credit from Citibank and a syndication of federal …
SAN DIEGO — Kilroy Realty Corp. has acquired a 1.3-acre development site in downtown San Diego from Pacifica Cos. for $42 million. Kevin Nolen, Mike Novkov, Tim Winslow and Jason Kimmel of Cushman & Wakefield represented the seller in the transaction. Kilroy plans to develop up to 275,000 square feet of Class A office space on the full city-block site, which is located at 2045 Pacific Highway in San Diego’s Little Italy neighborhood. The site consists of four parcels within walking distance to numerous amenities and the San Diego Bay.
CHICAGO — LMC has started preleasing Triangle Square Apartments, a 298-unit luxury apartment community in Chicago’s northern neighborhood of Bucktown. Triangle Square offers studio through three-bedroom units ranging from 464 to 1,413 square feet that feature built-in Wi-Fi, floor-to-ceiling windows and stainless-steel appliances. Select units offer private balconies, wine racks and walk-in closets. Located at 2155 N. Elston Ave., the community will put residents within walking distance of the Chicago River and local shops and eateries, with Lincoln Park and lakefront views to the east. The community is also within walking distance of the Metra Clybourn station. The seven-story midrise community also includes 21,223 square feet of ground-floor retail space. The first move-ins are scheduled to begin in July. Monthly rents will start at $1,455, according to Apartments.com.
NEW YORK CITY — Aeroterm, a provider of facility-related services to airports throughout North America, has signed a ground lease at JFK International Airport in Queens with plans to open a $145 million cargo handling facility. The project is expected to create about 350 new jobs. Aeroterm will develop the 26-acre facility in partnership with the Port Authority of New York and New Jersey and Worldwide Flight Services, the main cargo handler at JFK, as part of New York Gov. Andrew Cuomo’s JFK Vision Plan to redevelop the airport. Demolition of the existing facilities on the site is scheduled to begin in September, with project completion slated for the end of 2023.
NEWARK, N.J. — Greystone has arranged a $94 million construction loan for a 403-unit multifamily project that will be located at 55 Union St. in downtown Newark. The project will include 3,000 square feet of retail space and a 196-space parking garage. The amenity package will consist of a rooftop garden and entertainment area, an outdoor courtyard with grills, fire pits and lounge space and a fitness center. Drew Fletcher, Matthew Hirsch and Steven Deck of Greystone placed the debt on behalf of the developer, J&L Cos. Inc. A four-bank syndicate led by Valley National Bank and including Bank Hapoalim, Abanca USA and TriState Capital Bank provided the loan.
MIAMI — Wharton Equity Partners and Cross Lake Partners LP have sold a 92,972-square-foot development site located at 16 SE 2nd St. in downtown Miami. Colliers International’s Urban Core Division facilitated the $46 million sale of the full city block, known as Miami Center. The property is currently home to a parking lot. Mika Mattingly of Colliers and Robert Given of Cushman & Wakefield represented Wharton Equity Partners and Cross Lake Partners in the sale. Estrella Perez with EP Realty Group Inc. represented the buyer, a South American family office known as Enrique Manhard. The zoning designation for the property allows several uses, including residential, hotel, office and retail totaling 2 million square feet. The maximum height permitted at the site is 80 stories with unlimited height available through public benefit bonuses.
NEW YORK CITY — Scale Lending, an affiliate of Slate Property Group, has provided a $63 million construction loan for 322 Grand Concourse, a 151-unit multifamily project that will be located in the Mott Haven area of The Bronx. Thirty percent (45) of the units in the 14-story building will be earmarked as affordable housing. Construction is expected to take about two years to complete.