Development

SurePoint to Develop 744-Unit Self-Storage Facility in Conroe, Texas

by Taylor Williams February 28, 2022

CONROE, TEXAS — SurePoint Self Storage will develop a 744-unit facility that will be located within Johnson Development’s Grand Central Park master-planned community in the northern Houston suburb of Conroe. CubeSmart will operate the facility, which will feature approximately 94,000 square feet of net rentable, climate-controlled space. Construction is scheduled to begin this fall and to be complete in May 2023. The facility will be SurePoint’s 14th self-storage development in the greater Houston area.

February 28, 2022

Affordable Housing Development Multifamily North Carolina Seniors Housing Southeast

Woda Cooper Opens 50-Unit Affordable Seniors Housing in Hickory, North Carolina

by Julia Sanders February 28, 2022

HICKORY, N.C. — Woda Cooper Cos. Inc. has opened Center Crossing, a 50-unit, four-story affordable seniors housing community in Hickory that offers one- and two-bedroom apartments. Five of the units are accessible for those with mobility challenges, including two units specifically equipped for those with sight and hearing impairments. Unit features include kitchens with Energy Star-rate appliances, dedicated storage areas and washer and dryer closets. The property serves residents aged 55 and older who earn 40 to 80 percent area median income (AMI). Rental rates range from $356 to $921 per month, depending on unit size and income restriction. Community amenities include an onsite management office, a multipurpose space with laundry and a fitness center, as well as a computer room. The property also features off-street parking, a covered patio with seating, additional outdoor seating areas and a covered bus stop. North Carolina Housing Finance Agency (NCHFA) allocated federal Low-Income Housing Tax Credits (LIHTC) to support equity financing for Center Crossing, including two permanent debt loans. Western Piedmont Council of Governments provided a $250,000 Home Loan through its Unifour Home Consortium. CREA LLC purchased the tax credits which also provided equity for the project. RiverHills Bank provided a $6.9 million …

February 28, 2022

Development Industrial Iowa Midwest

Hydrite Chemical to Expand Manufacturing Facility in Waterloo, Iowa

by Kristin Harlow February 28, 2022

WATERLOO, IOWA — Hydrite Chemical plans to expand its facility in Waterloo that manufactures and distributes chemical products throughout the U.S. The City of Waterloo awarded tax benefits for the expansion project, which represents a $21 million capital investment over the next three years. Hydrite also plans to expand the facility’s transportation fleet and warehouse space. The project is expected to bring the workforce total to 158 employees at the Waterloo facility, which is the company’s only Iowa location and its largest property.

February 28, 2022

Affordable Housing Development Loans Massachusetts Multifamily Northeast

MassDevelopment Issues $53.6M Bond Financing for Construction of Boston Affordable Housing Complex

by Taylor Williams February 28, 2022

BOSTON — MassDevelopment has issued $53.6 million in tax-exempt bond financing to Washington Pine LLC for the construction of a five-story, 202-unit complex in Boston. Located at 3368 Washington St., the building will house 140 units of supportive housing for individuals transitioning out of homelessness, and the remaining 62 units will be affordable apartments. All residential units will be managed by The Community Builders Inc., while long-term support for all formerly homeless residents will be provided by homeless services provider Pine Street Inn. The project will feature 24/7 front desk security, spaces for resident gatherings, fitness rooms, laundry rooms, a parking garage, two plazas and bike repair and storage. Construction is slated for completion by late 2023. Barings LLC was the corporate bond purchaser.

February 28, 2022

Acquisitions Arizona Development Industrial Western

GO Industrial Acquires Land in Phoenix for 1.3 MSF in Spec Projects

by Amy Works February 28, 2022

PHOENIX — GO Industrial has purchased land parcels on the east and west sides of Phoenix for the development of approximately 1.3 million square feet of space in two speculative industrial projects: GO | 99 North and GO | AZ Ave. Located on the west side of Phoenix, GO | 99 North will be a 1.1 million-square-foot facility situated on 70 acres. The building will feature 40-foot clear heights, concrete truck courts, and 217 trailer and 1,315 auto parking stalls. Groundbreaking is slated for third-quarter 2022. The building is the continuation of GO Industrial’s 1.3 million-square-foot GO | 99 industrial project, which is now under construction. Together, the two projects will bring a total of 2.4 million square feet to the area. Located on the East Valley, GO | AZ Ave. will be a 181,655-square-foot building on 10 acres. The facility will feature 32-foot clear heights, concrete truck courts, and 53 trailer and 212 auto parking stalls. Construction is scheduled to begin during the second quarter of 2022. DLR Group is serving as architect for both projects. General contractors have not yet been selected. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield represented GO Industrial in the …

February 28, 2022

Affordable Housing Arizona Development Multifamily Western

Holualoa Cos. to Build 129-Unit Workforce Housing Project in Tempe

by Amy Works February 28, 2022

TEMPE, ARIZ. — Holualoa Cos. has released plans for Dwell: A Work @ Home Community at the intersection of Fifth Street and Farmer Avenue in Tempe. The 129-unit workforce community will complete Farmer Studios, a mixed-use development, and provide housing opportunities for residents in downtown Tempe, Arizona State University and other locations. Holualoa purchased the two-acre parcel for $12 million. The residences will be integrated into two existing office buildings and a pocket park onsite to create a mixed-use development. The community will feature live/work-oriented amenity rooms for residents, conference rooms with green screens, private meeting rooms, a fitness center, dog-friendly features and walkable access to light rail, streetcar, restaurants and other amenities. Architekton and Worksbureau are serving as architects for the project.

February 28, 2022

Development Industrial Nevada Retail Western

Alston Construction Plans 298,389 SF Industrial Facility for Ashley Furniture in Spring Valley, Nevada

by Amy Works February 28, 2022

SPRING VALLEY, NEV. — Alston Construction, as general contractor, has unveiled plans for a 298,389-square-foot industrial facility located at W. Sunset Road and Raphael Riviera Way in Spring Valley, for Ashley Furniture Industries. The project will include tilt-up construction, full-site improvements, paving, concrete and landscaping. The warehouse will offer a retail showroom component and a distribution center. Construction is slated to begin in June 2022, with completion scheduled for July 2023. Hodgdon Group will serve as developer and Robert Jacob will serve as architect.

February 28, 2022

Content Partner Development Features Healthcare Leasing Activity NAI Northeast Southeast Western

Midwest Healthcare/MOB Properties Adapt to Post-COVID Demands, Tenant Expectations

by Sarah Daniels February 28, 2022

The famed stability of healthcare and medical office building (MOB) real estate continues in 2022, with the Midwest acting as a microcosm for the sector’s trends and challenges nationwide. Adapting to complement large healthcare system needs, adding urgent care centers and keeping costs low are some of the main concerns for brokers this space. Five healthcare/MOB brokers sat down with REBusinessOnline to discuss what is influencing the sector. Michael Kalil, chief operating officer and director of brokerage, and Jeff Cavazos, senior vice president, NAI Farbman, Southfield, Mich.; Matthew Gregory, senior VP office brokerage, and Michael Simpson, president, NAI Ohio Equities, Columbus, Ohio; and Doug Taatjes, partner/associate broker, NAI Wisinski of West Michigan, Grand Rapids, Mich. weighed in on the present and future of healthcare/MOB real estate. REBusiness: What trends are we going to see in healthcare in 2022? What factors might influence further investment in this field? Matt Gregory: Improvements to building infrastructure will be the most significant trend in 2022. There will be a push toward better HVAC filtration, higher cleaning standards and so forth. Mike Simpson: Yes, I think the healthy building initiative is something that’s going to pick up more momentum this year. Doug Taatjes: In our …

February 28, 2022

Development Loans New York Northeast Top Stories

H.I.G. Realty Partners Provides $240M Refinancing for The Paxton Mixed-Use Tower in Brooklyn

by Taylor Williams February 28, 2022

NEW YORK CITY — H.I.G. Realty Partners, an affiliate of global investment banking firm H.I.G. Capital, has provided a $240 million permanent loan for the refinancing of The Paxton, a 43-story mixed-use development in downtown Brooklyn that is nearing completion. Developed by locally based firm Jenel Real Estate, The Paxton will ultimately feature 327 for-rent residential units, 109,000 square feet of office space and up to 36,000 square feet of retail space. The project is located in the borough’s downtown area, just across both the Brooklyn Bridge and Manhattan Bridge from downtown Manhattan. Marvel Architecture designed the building, full completion of which is slated for the fall. CBRE and RIPCO Real Estate have been tapped to lease The Paxton’s office and retail components, respectively. The tower’s location on Fulton Street is part of a growing area that includes 35,494 residents, 16,501 residential units, 3 million square feet of office space and 1.9 million square feet of retail space. In addition, the area houses 11 higher education institutions with upwards of 60,000 students, as well as over 100 arts and cultural institutions. “We are excited to be a part of such a well-built, well-located property in the growing downtown Brooklyn market,” …

February 28, 2022

Building-1-Gateway35-Commerce-Center-Georgetown

Development Industrial Leasing Activity Texas

Titan Industrial Signs CelLink to 294,297 SF Industrial Lease in Metro Austin

by Taylor Williams February 25, 2022

GEORGETOWN, TEXAS — CelLink Corp. has signed a 294,297-square-foot industrial lease at Gateway35 Commerce Center, a master-planned park by Titan Development that is located in the northern Austin suburb of Georgetown. The tenant, which manufactures circuits for batteries used in the automotive and energy storage industries, will occupy the entirety of Building 1 upon completion in June. In addition, CelLink plans to hire between 800 and 2,000 employees over the next 10 years and invest about $130 million in the local economy over the next five years.

February 25, 2022

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