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Development

Monogram-Food-Solutions-Haverhill-Massachusetts
DevelopmentIndustrialMassachusettsNortheast

Monogram Food Solutions to Open 135,000 SF Production Facility in Haverhill, Massachusetts

by Taylor Williams

HAVERHILL, MASS. — Monogram Food Solutions, a manufacturer of prepared foods based in Memphis, will open a 135,000-square-foot production facility within Cedar Brook Park in Haverhill, a northern suburb of Boston. Paradigm Properties is developing the facility as a build-to-suit for Monogram that will consist of 109,000 square feet of multi-temperature warehouse space and a 26,000-square-foot sandwich assembly area. Massachusetts-based design-build firm Dacon Corp. is the design-build firm. Construction is underway and scheduled for completion in mid-2022.

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Bohler Due Diligence Development Redevelopment
BohlerContent PartnerDevelopmentFeaturesMidwest

Six Factors to Consider During Due Diligence for Land Development or Redevelopment

by Sarah Daniels

Whether you are buying undeveloped land or assessing a property for potential redevelopment, thorough due diligence is critical to good decision-making. With the speed at which today’s commercial real estate market operates, you may face time constraints and you definitely want to limit expenditures related to due diligence — but you don’t want to cut corners. An incomplete understanding of the challenges at the site will limit your ability to scope out the project and could impact your ability to keep it on schedule and within budget. Even if you need to complete due diligence on an expedited timeline, make sure you check all the boxes. Here are six key items that should be on your checklist to ensure you limit unexpected costs and delays. 1.    Geotechnical and Environmental Investigations Depending on your project scope, some form of a geotechnical investigation makes sense. Prior to design, it’s important to find out if soil constraints pose risks or design challenges. Geotechnical due diligence will disclose information about the physical properties of the underlying soil including rock, historic fill, unsuitable organic layers, seasonal groundwater and/or buried debris. Environmental due diligence will provide information about existing site challenges including wetlands, floodplains, brownfields, archeological factors …

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Midtown Exchange
DevelopmentLoansNorth CarolinaOfficeSoutheast

Avison Young Secures $40M Financing for Midtown Exchange Project in Raleigh

by Julia Sanders

RALEIGH, N.C. — Avison Young has secured a $40 million senior loan to fund the pre-development activities and horizontal infrastructure construction for Midtown Exchange, a $1 billion mixed-use development underway in Raleigh. The developer of Midtown Exchange, Dewitt Carolinas, received the funding for the 353,000-square-foot office tower. Wes Boatwright, Mike Yavinsky and Jon Goldstein of Avison Young led the financing transaction through an undisclosed lender. At full buildout, Midtown Exchange will include 790,000 square feet of Class A office space, 1,275 residential units, 300 seniors housing units, 300 hotel rooms, 125,000 square feet of retail and dining space, a convention center and more than seven acres of green space and park amenities. Raleigh-based Dewitt Carolinas is active in development, ownership, management and acquisition of real estate throughout the Carolinas. The firm has completed more than 600 developments and over $2 billion of construction.

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Self-storage
DevelopmentGeorgiaIndustrialSelf-StorageSoutheast

Joint Venture Breaks Ground on 93,000 SF Self-Storage Facility in Canton, Georgia

by Julia Sanders

CANTON, GA. — A joint venture between Lumpkin Development, MacArthur Holdings and Live Oak Capital Partners has broken ground on a 93,000-square-foot self-storage facility located at 7222 Cumming Highway in Canton, close to the Northside Hospital Cherokee campus. The property is slated to be open to the public in the spring of 2022. The self-storage facility will be located on 9.2 acres and will comprise of drive-up, climate-controlled units. JM Williams Contractors will construct the facility, and Renasant Bank is providing the debt financing for the project. Max Design Group is the project’s architect, and Travis Pruitt & Associates is serving as the civil engineering. The facility is Lumpkin Development’s first Class A storage property in the area. Lumpkin Development builds and operates self-storage, retail and industrial real estate throughout the Southeast. MacArthur Holdings is a New York City-based real estate business, and Live Oak Capital Partners is a real estate developer based in Atlanta.

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DevelopmentIndustrialMichiganMidwest

Ford Unveils Plans for Battery Testing Center Near Detroit Named Ford Ion Park

by Kristin Harlow

ALLEN PARK, MICH. — Ford Motor Co. has unveiled plans for a new battery testing center named Ford Ion Park in the Detroit-area town of Allen Park in effort to accelerate research and development of battery and battery cell technology. A team of 150 experts in battery technology development, research, manufacturing, planning, purchasing, quality and finance will assist Ford in more quickly developing and manufacturing battery cells and batteries. Plans call for a $185 million, 200,000-square-foot collaborative learning lab in Southeast Michigan that is dedicated to developing, testing and building vehicle battery cells opens late next year. Ford’s Battery Benchmarking and Test Laboratory, which spans 185,000 square feet, opened late last year in Allen Park.

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DevelopmentMidwestMultifamilyWisconsin

McShane to Construct 302-Unit Apartment Community in Oconomowoc, Wisconsin

by Kristin Harlow

OCONOMOWOC, WIS. — Developer Mandel Group has selected McShane Construction Co. to build Hackney House Apartments at Pabst Farms in Oconomowoc, about 35 miles west of Milwaukee. The apartment community will include 302 units across 20 garden-style and townhome buildings. Amenities will include a 4,000-square-foot clubhouse, fitness center, outdoor pool, grill area, dog wash and bike storage. HUD 221(d)(4) financing will be used to finance the project. Completion is slated for April 2023. BSB Design is the architect.

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DevelopmentOfficeTexas

Cousins Properties to Develop $147M Office Building at The Domain in Austin

by Taylor Williams

AUSTIN, TEXAS — Atlanta-based developer Cousins Properties will develop Domain 9, a 335,000-square-foot office building that will be located within The Domain, a mixed-used development on Austin’s north side. Total project costs are anticipated to be about $147 million. Cousins plans to break ground on Domain 9 in the second quarter and to deliver the building in mid-2023. The company’s current office portfolio within the Domain submarket spans 2.1 million square feet and is 98 percent leased.

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Balfour-Beatty-Vanderbilt-Nashville
DevelopmentMultifamilySoutheastStudent HousingTennesseeTop Stories

Public-Private Partnership Breaks Ground on 616-Bed Student Housing Project in Nashville

by Taylor Williams

NASHVILLE, TENN. — A public-private partnership between Balfour Beatty Campus Solutions, Axium Infrastructure and Vanderbilt University has broken ground on a 616-bed student housing project in Nashville. The total cost of the project was not disclosed, but the Nashville Post and Nashville Business Journal both reported late last week that the development team received approximately $107 million in construction financing. According to Vanderbilt University’s news service, construction of the project was originally scheduled to start last summer but was delayed due to COVID-19. The community will be located on Broadway between Lyle and 20th avenues and will include 25,000 square feet of retail space. The new residence hall will offer a mix of studio, one- and two-bedroom units targeting graduate and professional students. Residences will be furnished with full washers and dryers, and costs of utilities will be included in rent. Shared amenities will include a 13,000-square-foot collaboration space with a dedicated area for academic and entrepreneurial endeavors, private study spaces, fitness center and a public courtyard. “Providing an updated housing option with modern amenities in a vibrant neighborhood convenient to campus will further the university’s goal to recruit the best graduate and professional students and provide them with an …

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Shops-Sportsmens-Lodge-Studio-City-CA
CaliforniaDevelopmentRestaurantRetailWestern

Midwood Investment & Development to Open The Shops at Sportsmen’s Lodge in Studio City this Summer

by Amy Works

STUDIO CITY, CALIF. — Midwood Investment & Development will open The Shops at Sportsmen’s Lodge, a 95,000-square-foot retail center in Studio City, this summer. The rolling opening will begin on June 10 with the debut of anchor tenant Erewhon, the Los Angeles-based market and café. The location will be Erewhon’s seventh store and its first in the San Fernando Valley. Other tenants slated to open this summer include Civil Coffee, Free People Movement, Madison Reed, Myodetox, Roberta’s Pizza, SALT Optics, Tocaya, Tuesday’s Sweet Shoppe, Ushi Ushi, Van Leeuwen and Vuori. More than a dozen additional tenants will be announced at a later date. Gensler and OLIN provided design and architectural services for the redevelopment the property, which replaces the former meeting and convention space. The development team worked closely with the city’s Cultural Heritage Commission to maintain the rustic spirit of the Lodge, the existing natural foliage and tree canopy.

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The Bentley
DevelopmentFloridaLoansMixed-UseMultifamilySoutheast

Centennial Bank Provides $68M Construction Loan for Bentley Apartments in Orlando

by Julia Sanders

ORLANDO, FLA. — Centennial Bank has provided a $68 million loan to Unicorp National Developments Inc. for the construction of The Bentley, a 396-unit apartment tower in Orlando. The high-rise is part of Unicorp’s $1 billion mixed-use development O-Town West. Robby Barrows of Centennial Bank led the loan transaction for developer Unicorp. O-Town West will be a multi-phase, live-work epicenter delivering single-family homes, apartments, a Publix-anchored retail package and office space. Confirmed tenants for The Town Center at O-Town West include Publix, AT&T, Heartland Dental, McDonalds and Planet Smoothie. The Bentley is one of the first phases of the development, in addition to Town Center, both of which are slated to break ground soon. The Bentley is slated for completion at the end of next year. The Bentley’s amenities will include a resort-style swimming pool with a Jacuzzi, resident lounge with a coffee bar, social area featuring billiards and arcade games, theater room, entertainment lanai with a TV, Zen garden with hanging moon chairs and water features, outdoor walking trail, a firepit, 24-hour fitness center with TRX and yoga studio, conference room, bike rentals, outdoor gaming areas and electric car charging stations. Centennial Bank has financed more than $149 million …

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