Development

Amazon to Open 220,000 SF Delivery Station in Port St. Lucie, Florida

by Julia Sanders January 26, 2022

PORT ST. LUCIE, FLA. — Amazon will be opening a 220,000-square-foot delivery station in Legacy Park at Tradition, a distribution park in Port St. Lucie. Construction is expected to be complete by September. The Seattle-based e-commerce giant plans to hire 200 full-time workers to prepare customer orders for last-mile delivery at the project. The facility will be a single-story building standing 44 feet. Sansone Group is the project developer, while Threecore is the general contractor. Robert Smith of CBRE worked with Sansone Group to sign Amazon on as a tenant at Legacy Park. Once completed, Legacy Park at Tradition will total approximately 5.4 million square feet of single and multitenant light industrial and distribution facilities. Other tenants at the Class A distribution park includes FedEx Ground and Cheney Brothers.

January 26, 2022

Acquisitions Development Mixed-Use Office Retail Southeast Tennessee

CBRE Investment Management Acquires Sylvan Supply Mixed-Use Development in Nashville

by Julia Sanders January 26, 2022

NASHVILLE, TENN. — CBRE Investment Management, on behalf of the Strategic Partners U.S. Value 9 fund, has acquired Sylvan Supply, an eight-building, 193,663-square-foot mixed-use development in Nashville. The sellers are the project’s developers: FCP and Third & Urban. The sales price was not disclosed. Originally built in 1959, Sylvan Supply was formally used as a specialty wood mill. Between 2018 and 2020, the site was redeveloped by FCP and Third & Urban. Now, the property includes about 158,000 square feet of creative office space and 36,000 square feet of retail space. The property was 61 percent leased at the time of sale to five restaurants and a variety of other retail tenants, including a brewery, fitness studio and a salon. In addition to creative office space, Sylvan Supply offers a common area, Wi-Fi and numerous outdoor plazas for retail and dining, in addition to private patios for office tenants. The site offers abundant parking for tenants and visitors. Located at 4101 Charlotte Ave. on a 7.8-acre site, Sylvan Supply is situated less than four miles from downtown Nashville.

January 26, 2022

Development Georgia Industrial Southeast

Dermody Completes 154,440 SF Spec Industrial Property in Metro Atlanta

by Julia Sanders January 26, 2022

DECATUR, GA. — Reno, Nev.-based Dermody Properties has completed LogistiCenterSM at Miller Road, a 154,440-square-foot distribution facility in Decatur. Located at 2800 Miller Road, LogistiCenterSM is situated 16.7 miles east of downtown Atlanta. The property features 32-foot clear heights, 150 car parking stalls, 23 trailer stalls, 35 dock-high doors, an ESFR fire protection system and build-to-suit office space. LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class A distribution and logistics facilities that meet the supply chain requirements for companies. Matt Bentley of NAI Brannen Goddard is the leasing broker for the project. The building is immediately available for lease.

January 26, 2022

Development Florida Multifamily Seniors Housing Southeast

RangeWater to Break Ground on Age-Restricted Multifamily Project in Jacksonville

by Julia Sanders January 26, 2022

JACKSONVILLE, FLA. — Atlanta-based RangeWater Real Estate has plans to break ground on Olea Beach Haven, a 175-unit, age-restricted housing community in Jacksonville. Construction will start in the first half of this year. Olea Beach Haven will offer one-, two- and three-bedroom floorplans. Community amenities will include a dog park, social green space, pool, a library and media rooms. Located on 6.4 acres at 4101 San Pablo Parkway, the property is situated 17.8 miles from downtown Jacksonville, 7.7 miles from the University of North Florida and 5.6 miles from Jacksonville Beach. RangeWater opened its first two Olea-branded properties in Florida in August 2020 and experienced high leasing velocity, leading to stabilization within a year.

January 26, 2022

Development Industrial Life Sciences Loans Northeast Pennsylvania

PCCP Provides $500M Loan for Industrial, Life Sciences Redevelopment in Philadelphia

by Taylor Williams January 26, 2022

PHILADELPHIA — Los Angeles-based PCCP LLC has provided a $500 million loan to fund the redevelopment of the former PES oil refinery in South Philadelphia into a 15 million-square-foot logistics and life sciences campus that will be known as The Bellwether District. The borrower, a joint venture led by Hilco Redevelopment Partners, acquired the 1,300-acre property in 2020 out of bankruptcy. The transformation of the site includes the decommissioning of the refinery and significant demolition and remediation work, including the abatement of roughly 30,000 tons of asbestos. Redevelopment efforts initially commenced in June 2020. Site work and vertical construction are expected to commence this year, with the first tenants expected to occupy buildings in 2023.

January 26, 2022

Development Multifamily Washington Western

Cypress Equity Investments Completes 186-Unit Hailey Apartments in Tacoma, Washington

by Amy Works January 26, 2022

TACOMA, WASH. — Los Angeles-based Cypress Equity Investments (CEI) has completed the construction of Hailey, a multifamily property in Tacoma. Located at 1210 Tacoma Ave. South, Hailey features 186 apartments in a mix of studio, open one-bedroom, one-bedroom and two-bedroom floor plans with custom cabinetry, quartz countertops, stainless steel appliances, tiled backsplashes and in-unit washers/dryers. The property offers a rooftop deck with harbor and mountain views, a second-floor outdoor terrace, fitness center, community barbecue facilities, bike storage, lounge seating, barbecue stations and fire pits. Studio19 Architects served as architect and Gig Harbor-based The Rush Cos. served as general contractor for the project. Construction began in late 2017 and the community received its certificate of occupancy in October 2021.

January 26, 2022

Development Industrial Michigan Midwest Top Stories

GM, LG Energy Solution Plan $2.6B Electric Vehicle Battery Cell Manufacturing Plant in Lansing, Michigan

by Kristin Harlow January 26, 2022

LANSING, MICH. — Ultium Cells, a joint venture between General Motors Co. (NYSE: GM) and LG Energy Solution, has unveiled plans for a $2.6 billion investment to build its third battery cell manufacturing plant in the United States. The facility, which will be located in Lansing, the state capital, is part of a larger $7 billion investment in four Michigan manufacturing sites to increase battery cell and electric truck manufacturing capacity. Detroit-based GM says this is the single largest investment announcement in its history. The Michigan Strategic Fund Board approved $824.1 million in incentives for the projects, according to local media reports. Ultium Cells will build the new plant in Lansing on land leased from GM. The facility is expected to create 1,700 new jobs when fully operational. Site preparation on the roughly 2.8 million-square-foot property is scheduled to begin this summer, and the plant is expected to open in late 2024. The facility will supply battery cells to Orion Assembly in Michigan and other GM electric vehicle (EV) assembly plants. “This significant investment demonstrates our commitment to strengthen our Michigan and U.S. manufacturing presence and grow good-paying jobs,” says Mary Barra, GM chair and CEO. “We will have the …

January 26, 2022

Development Multifamily Oregon Seniors Housing Western

LRS Architects Designs 127-Unit Seniors Housing Expansion in Portland, Oregon

by Amy Works January 25, 2022

PORTLAND, ORE. — LRS Architects Inc has completed design work for Parkview at Terwilliger Plaza just south of downtown Portland. The 10-story, 370,000-square-foot building will bring 127 independent living apartments to the existing three-building senior living campus while providing space for up to 200 new residents. The project is designed to the Passive House standard with several sustainability goals, including sustainable energy use and improved air quality. “Features such as thermal bridge-free detailing, airtight construction, energy-efficient appliances, heat recovery ventilation and a green roof are central toward creating comfortable and energy-efficient spaces and establishing a level of sustainability other complexes cannot guarantee,” says Peter Houseknecht, LRS’s lead architect on the project. “Parkview at Terwilliger Plaza is the largest Passive House-certified project on the U.S. West Coast and largest in the senior living space.” Construction on the project began in the spring 2021 and is scheduled for completion in 2023.

January 25, 2022

Colorado Development Healthcare Office Restaurant Retail Western

Evergreen Devco Plans Three Buildings at Nine Mile Corner Mixed-Use Project in Erie, Colorado

by Amy Works January 25, 2022

ERIE, COLO. — Evergreen Devco has broken ground for three buildings at Nine Mile Corner, a mixed-use project in Erie. Located at the southwest corner of U.S. 287 and Arapahoe Road, Nine Mile Corner consists of approximately 26 acres of retail, 12 acres of multifamily and 10 acres of open space. The project is a public-private partnership between Evergreen, the Town of Erie and the Town of Erie Urban Renewal Authority. The under-construction properties are two multi-tenant buildings, totaling 18,000 square feet, and an 8,000-square-foot UCHealth medical office building. Waner Construction is the serving as general contractor and G3 Architecture is serving as architect for the three buildings. Completion is slated for third-quarter 2022.

January 25, 2022

Development Illinois Midwest Multifamily Top Stories

Developers to Begin Vertical Construction of 73-Story Apartment High-Rise in Chicago

by John Nelson January 25, 2022

CHICAGO — Co-developers Time Equities Inc., JK Equities and Oak Capitals plan to soon begin vertical construction for 1000M, a 73-story apartment high-rise in Chicago’s South Loop district. Named for its address (1000 S. Michigan Ave.), 1000M will stand 788 feet tall upon completion in 2025, making it one of the tallest apartment towers in Chicago. 1000M was originally conceived as a for-sale condominium tower but during a pause in construction during the COVID-19 pandemic, the co-developers decided to reposition the asset as a rental residential tower. Construction recommenced following a $304.5 million loan from Goldman Sachs and Deutsche Bank Wealth Management, according to various media outlets. The 738-unit apartment tower will offer residences ranging from studios to three-bedroom penthouse units. The development will also feature a golf simulator room, outdoor swimming pool with cabanas, a cookout area and a full-service 73rd floor bar and lounge offering views of the Chicago skyline. In addition, a 325-car parking garage will be concealed behind the apartments. Nearby attractions and venues include Grant Park, Lake Michigan, Soldier Field & Museum, Humboldt Park Formal Gardens, Columbia College Chicago, Hilton Chicago and Trader Joe’s. Helmut Jahn, a world-renowned German architect who was killed last year …

January 25, 2022

Newer Posts

Older Posts