Development

Greystone Arranges $140M in Financing for Expansion of Seniors Housing Community in Scottsdale, Arizona

by Amy Works April 14, 2022

SCOTTSDALE, ARIZ. — Greystone has arranged a $140 million loan package for both the refinancing and expansion of Maravilla Scottsdale, a seniors housing community in Scottsdale. Phase I of the community comprises a fully stabilized, 217-unit independent living, assisted living and memory care property. Opened in 2012, the community has received multiple awards, including being named Best 50+ CCRC Community by the National Association of Home Builders (NAHB), Best Multi-Family Project by Arizona Commercial Real Estate (AZRE), and Ten Best Places to Live by Arizona Foothills Magazine. Phase II of Maravilla Scottsdale is a planned 193-unit independent living community on the same parcel as Phase I that will overlook the TPC Scottsdale Golf Course. Spread over 11 acres with multiple common area spaces, the latest phase is scheduled for completion in mid-2023. Greystone’s seniors housing capital markets team, led by Cary Tremper and Matt Miller, arranged the financing from a national bank on behalf of Senior Resource Group LLC.

April 14, 2022

Development Georgia Office Southeast

Simon Tops Out 365,263 SF One Phipps Plaza Office Tower in Atlanta

by Julia Sanders April 14, 2022

ATLANTA — Simon Property Group has topped out One Phipps Plaza, a 13-story, 365,263-square-foot, LEED-certified, Class A office tower in Atlanta. The project includes the redevelopment of the former Belk department store at Phipps Plaza, a mall in Atlanta’s Buckhead neighborhood. The property’s first tenant is Novelis, a provider of aluminum rolling and recycling. Novelis will lease 90,000 square feet of space at the property and will use the building as its corporate headquarters. Other tenants slated to open at Phipps Plaza include Nobu Hotel & Restaurant, Life Time athletic club and Citizens Culinary Market. The 150-room Nobu Hotel will feature a pool, conference center, spa, and a Japanese restaurant called Nobu Atlanta Restaurant. Dallas-based The Beck Group is the architect and general contractor for the project.

April 14, 2022

Development Industrial Texas

Stream Realty, Principal Real Estate to Develop 1 MSF Spec Industrial Facility Near Port Houston

by Taylor Williams April 14, 2022

BAYTOWN, TEXAS — A joint venture between Stream Realty Partners and Principal Real Estate Investors will develop Portside Logistics Center, a 1 million-square-foot speculative industrial facility that will be located near Port Houston. The Baytown project will offer proximity to the Grand Parkway, Interstate 10 and Highway 225 while also providing access to Port Houston’s two container terminals: Barbour’s Cut and Bayport. Portside Logistics Center will consist of a 760,000-square-foot cross-dock building and a 260,000-square-foot front-load building with 40- and 36-foot clear heights. Both buildings will deliver with spec office space, LED warehouse lights and fully fenced and secured truck courts. Construction is set to begin in the third quarter and to be complete in late 2023. Stream will also handle leasing of the facility.

April 14, 2022

Development Industrial Texas

Oakmont Industrial Group Breaks Ground on 639,595 SF Spec Project in Northeast San Antonio

by Taylor Williams April 14, 2022

SAN ANTONIO — Atlanta-based developer Oakmont Industrial Group has broken ground on Oakmont 410, a 639,595-square-foot speculative industrial project in San Antonio. The site fronts the Interstate 410 Access Road on the city’s northeast side. The cross-dock facility will feature 40-foot clear heights, 146 dock-high doors, an ESFR sprinkler system and parking for up to 334 trailers and 406 cars. Oakmont has tapped NAI Partners as the leasing agent. Completion is slated for December.

April 14, 2022

Development Multifamily Texas

Presidium Begins Construction on 344-Unit Multifamily Project in Metro Dallas

by Taylor Williams April 14, 2022

FARMERS BRANCH, TEXAS — Texas-based developer Presidium has begun construction on Presidium Valley View, a 344-unit multifamily project located in the northern Dallas metro of Farmers Branch. Units at Presidium Valley View will come with stainless steel appliances, quartz countertops, kitchen islands, built-in desks, private balconies, keyless entry mechanisms and individual washers and dryers. Indoors, the property will house a fitness center, clubroom area, coffee bar, theater lounge with a golf simulator and coworking spaces. Outdoor amenities will include a pool, yoga lawns, grilling areas and a pet park/spa. Dallas-based O’Brien Architects is the project architect. Phase I of the development is scheduled to be complete in late 2023.

April 14, 2022

Acquisitions Development Industrial Texas

DWG Capital Group Arranges Sale of 7.6-Acre Industrial Development Site in Bastrop, Texas

by Taylor Williams April 14, 2022

BASTROP, TEXAS — DWG Capital Group has arranged the sale of a 7.6-acre development site in Bastrop, about 30 miles east of Austin, that is zoned to support cold storage, distribution/warehousing or light retail development. The site consists of two adjacent parcels spanning 5.3 and 2.3 acres that are proximate to Tesla’s $1 billion Gigafactory. The buyer, an undisclosed Austin-based developer, plans to construct a self-storage or industrial flex building at the site with tentative plans to break ground in 2023. Judd Dunning of DWG Capital Group represented the seller, Fort Worth-based MAG Capital Partners, as well as the buyer, in the transaction.

April 14, 2022

Development Florida Multifamily Southeast

AHS Residential Opens 420-Unit Oak Enclave Apartments in Miami Gardens, Florida

by Julia Sanders April 14, 2022

MIAMI GARDENS, FLA. — AHS Residential has opened Oak Enclave, a 420-unit multifamily community in Miami Gardens. Oak Enclave offers one-, two- and three-bedroom floorplans in five buildings. Unit features includes a private balcony or patio, high ceilings, granite countertops and stainless-steel appliances. Community amenities include a resort-style pool, fitness center, clubhouse and private parking. According to Apartments.com, rents range from $1,961 to $3,636 a month. Located at 2301 N.W. 167th St., the property is 13.4 miles from downtown Miami and 12.1 miles from Miami International Airport.

April 14, 2022

Development Industrial Midwest Wisconsin

HSA Commercial to Develop Three New Spec Warehouses Totaling 1.2 MSF in Southeast Wisconsin

by Kristin Harlow April 13, 2022

SOMERS AND OAK CREEK, WIS. — Chicago-based HSA Commercial Real Estate has unveiled plans to build three new speculative warehouses totaling nearly 1.2 million square feet in Southeast Wisconsin. Highland Commerce Center of Somers will span 910,000 square feet in Somers. Construction is scheduled to begin in the third quarter with completion slated for the second quarter of 2023. The project will feature a clear height of 40 feet. OakView II Industrial will span 154,810 square feet with a clear height of 32 feet. The project will be situated within the OakView Business Park in Oak Creek. Construction is scheduled to begin in June with completion slated for October. HSA also plans to build 150 West Oakview Industrial in the OakView Business Park. That building will span 131,244 square feet with a clear height of 32 feet. Construction is expected to begin in May and wrap up in September. The project team for all three buildings includes Pinnacle Engineering Group as civil engineer and Chicago-based Partners in Design as architect. PREMIER Design + Build Group will serve as general contractor for the Somers project, while Riley Construction will build both properties in Oak Creek.

April 13, 2022

Acquisitions Development Illinois Industrial Midwest

Panattoni Acquires 29 Acres in Aurora, Illinois, Plans 356,462 SF Spec Industrial Development

by Kristin Harlow April 13, 2022

AURORA, ILL. — Panattoni Development has purchased 29 acres in Aurora with plans to build a 356,462-square-foot speculative industrial development. Panattoni expects to break ground on the project this month. The industrial facility will feature a clear height of 36 feet, 34 loading docks, 139 trailer positions and 290 car parking spaces. Completion is slated for the third or fourth quarter of this year. Nick Krejci and Noel Liston of Darwin Realty/CORFAC International represented Panattoni in the acquisition. Darwin has been retained to market the project for lease.

April 13, 2022

Development Industrial Southeast Virginia

Clayco Breaks Ground on 330,000 SF Tyson Foods Facility in Southern Virginia

by Julia Sanders April 13, 2022

DANVILLE, VA. — Clayco has broken ground on Tyson Foods’ new poultry processing facility in Danville. Construction started last month and is slated for completion by the spring of 2023. Built on a 64-acre site, the project will be used primarily for the production of fully cooked, Tyson-branded chicken products. Tyson Foods has committed to purchasing 60 million pounds of Virginia-grown chicken over the next three years. The chicken processing plant’s features will include a mezzanine level, ASRS cold storage structure, raw materials storage, production and packaging space, a two-story space for offices, and cold storage spaces that will range in temperatures throughout the building. A wastewater treatment plant will also be included. Lamar Johnson Collaborative is the designer for the project, with Clayco in charge of designing and building. Other project partners include Concrete Strategies, Tucker Jones and Stock Engineering.

April 13, 2022

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