MONTVILLE, N.J. — A partnership between Diversified Properties, The Hampshire Cos. and 1026 Real Estate Investors has opened a 755-unit self-storage facility for CubeSmart in Montville, located in Northern New Jersey. The fully climate-controlled facility has a gross square footage of 98,000 square feet. Diversified Properties, as lead developer, acquired the site in 2015 when it housed a 35,000-square-foot office building and a 2.5-acre pad site. Hampshire Cos. and 1026 Real Estate co-funded equity for the project.
DALLAS — Atlanta-based Robinson Weeks Partners will develop Dallas Midpoint Crossing, a 550,000-square-foot industrial project that will be located on a 26.6-acre site about 30 miles from Dallas-Fort Worth International Airport. The facility will offer proximity to Interstates 20 and 45, as well as the Union Pacific Railroad Intermodal Terminal. Building features will include 36-foot clear heights, 282 auto parking spaces and 130 trailer parking spaces. Construction is scheduled to begin in May and to wrap up in the second quarter of 2022. JLL will market the project for lease.
HOUSTON — Locally based developer Testa Rossa Properties has topped out Museo Medical Office Building, a 10-story, 364,000-square-foot healthcare project located at 5115 Fannin St. in Houston. Designed by PJMD Architects and Dallas-based Huitt-Zollars, the project will house users such as Texas Laparoscopic Consultants and Mann Eye Institute. Completion is slated for the fall.
SOUTHLAKE, TEXAS — RREAF Holdings has completed construction of the 240-room Delta Hotel Dallas Southlake. Designed by Merriman Anderson Architects, the six-story property features 10,000 square feet of meeting and event space, a restaurant and bar, outdoor pool and patio and a coffee shop. Hill & Wilkinson served as the general contractor. Construction began in July 2019.
HENRICO, VA. — Amazon plans to build a new robotics fulfillment center on 119 acres in Henrico, about 11 miles from Richmond. The Seattle-based company expects to create 1,000 new jobs at the facility, which is set to open in 2022. The multi-story, 650,000-square-foot property will be situated next to Richmond Raceway. In 2006, Amazon launched its first Virginia fulfillment operations in Sterling. Last year, Amazon started plans on a robotics fulfillment center in Suffolk and a processing center in Chesapeake, which are both expected to launch later this year. Since 2010, Amazon’s investments have contributed an additional $17.5 billion to Virginia’s economy, according to the company. The Virginia Economic Development Partnership worked with the Henrico Economic Development Authority, The Port of Virginia and the Greater Richmond Partnership to secure the new Amazon facility.
CHICAGO — Lendlease and Magellan Development Group have begun pre-leasing at Cascade, a 37-story, 503-unit luxury apartment tower in Chicago’s Lakeshore East neighborhood. First move-ins are expected this summer, coinciding with the opening of the adjacent Cascade Park, a publicly accessible green space that will connect the property to the lakefront and Chicago Riverwalk. Floor plans will range from 509 to 1,332 square feet. Monthly rents for studios will start at $1,650, $2,050 for one-bedrooms, $3,300 for two-bedrooms and $5,750 for three-bedrooms. Cascade will offer more than 45,000 square feet of indoor and outdoor amenity space across three levels. The building’s 32nd floor features a terrace overlooking Navy Pier and Lake Michigan. The design team includes bKL Architecture for the tower and Claude Cormier + Associés for the park. Cascade residents who plan to transition into homeownership can take advantage of a program that enables them to sign a contract for a condo at Cirrus, the adjacent 47-story, 350-unit condominium tower. Half of the rent paid (up to 2.5 percent of the purchase price) can be recouped as a credit at closing.
CHICAGO — EQ Office has reopened Skydeck Chicago at Willis Tower to the public after completing an extensive redevelopment. The attraction’s lower level features an interactive museum that celebrates the history of Chicago’s neighborhoods and sites. The observation deck, situated on the 103rd floor, features The Ledge, four glass floor balconies extending from the tower. The attraction uses a timed ticketing system with capacity limits and safety guidelines in accordance with Chicago’s latest COVID-19 regulations. EQ Office, operator of Willis Tower, developed the project. Skidmore, Owings & Merrill, Thinc Design, Clark Construction Group and Chicago Scenic Studios made up the project team.
EVESHAM TOWNSHIP, N.J. — Capitol Seniors Housing has broken ground on Arbor Terrace Marlton, a project in Evesham Township near Philadelphia that will consist of 60 assisted living apartments and 27 memory care units. The 76,500-square-foot community will be located near several major medical facilities and will offer amenities such as a private dining area, theater, bistro, hair salon, lounges and outdoor amenity spaces with artwork and a pond. Meyer Senior Living Studio is designing the project, and IMC Construction is the general contractor. The opening is scheduled for early 2022.
PORTLAND, ORE. — Alliance Residential has started construction on Holden of Pearl, a 16-story seniors housing community in the Pearl District of downtown Portland. The 237-unit community will offer apartments for rent that cater to residents seeking both independent and assisted living, while also reserving a separate, private community for memory care residents. The asset includes 28,000 square feet of indoor amenity space. Milestone Retirement Communities will operate the property upon completion.
CUPERTINO, CALIF. — Apple Inc. (NASDAQ: AAPL) will open a $1 billion office campus in North Carolina’s Research Triangle, a move that is expected to add more than 3,000 new jobs to the local economy. The move is part of a larger, $430 billion expansion and capital investment program that the Cupertino-based tech giant projects will bring about 20,000 new jobs to the country over the next five years. According to the Raleigh News & Observer, North Carolina’s Economic Investment Committee, for its part, approved a job creation and tax incentives plan for Apple that was valued at $845 million over 40 years, the largest such grant in state history. The local newspaper also reports that the campus will span about 1 million square feet and will be located in Wake County on a site near the border of Cary and Morrisville, two smaller towns on the south side of the triangle. A construction timeline has not yet been released. As part of its commitment to the Tar Heel State, Apple plans to launch a $100 million fund to support local schools and invest $110 million in improving pieces of local infrastructure, such as bridges and telecommunications systems. The new …