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DevelopmentLeasing ActivityMixed-UseOfficeRetailSoutheastTennessee

KBS Signs Three Tenants, Completes Renovations at 175,262 SF McEwen Building in Metro Nashville

by John Nelson

FRANKLIN, TENN. — KBS has signed three new tenants at The McEwen Building, a 175,262-square-foot office and retail property in Franklin, about 21.5 miles south of Nashville. Together the three tenants occupy 66,611 square feet. One of the new tenants, Kaiser Aluminum Corp., a global aluminum supplier, has committed to 27,356 square feet of office space. Kaiser will be relocating its corporate functions from Foothill Ranch, Calif. American Renal Associates LLC, a Massachusetts-based dialysis clinic operator, signed a 26,695-square-foot lease. Lastly, an undisclosed financial institution based locally signed a lease for 12,560 square feet, which includes 1,290 square feet for retail and 11,270 square feet of first-floor office space. The lease transaction occurred after KBS made investments to the property, including the completion of 24,130 square feet of built-out spec suite space and upgrades to the first and second floor lobbies, restrooms, coffee bar and café. Blake Newton of Cushman & Wakefield represented KBS in the recent leasing transactions. Rick Sherburne, Wesley Sherburne and Taylor Hillenmeyer of CBRE represented Kaiser Aluminum Corp., Tom Hooper of JLL represented American Renal Associates and Shane Douglas of Colliers represented the local financial institution in the negotiation of the leases. KBS also completed a …

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DevelopmentLeasing ActivityRetailSoutheastTennesseeTop Stories

Dollar General to Open 1,000 New Popshelf Stores by End of 2025

by Kristin Harlow

GOODLETTSVILLE, TENN. — Dollar General (NYSE: DG) has unveiled plans to open approximately 1,000 new Popshelf stores by the end of fiscal year 2025, including roughly 100 stores in fiscal year 2022. Each Popshelf store spans approximately 9,000 square feet and offers seasonal and home décor, health and beauty products, cleaning supplies and party goods. The target customer is primarily female, lives in the suburbs and maintains an annual household income ranging from $50,000 to $125,000, according to the retailer. Dollar General, which is based in Goodlettsville near Nashville, debuted the Popshelf concept last fall and opened its first two stores in Tennessee in October 2020. At the end of its fiscal third quarter, Dollar General operated 30 Popshelf stores in six states and 14 store-within-a-store formats, which combine the offerings of Popshelf with DG Market, a larger footprint store that focuses on groceries. By February 2022, Popshelf is on track for 50 stores, as well as up to 25 store-within-a-store formats. “Throughout Popshelf’s first year, we’ve been very pleased by the customer demand for the concept’s on-trend merchandise, price points and shopping experience,” says Emily Taylor, Dollar General’s executive vice president and chief merchandising officer. “Popshelf is an integral …

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1158-Delaware-St-Denver-CO
ColoradoDevelopmentMultifamilyWestern

Summit Capital, Rockefeller Group to Develop 250-Unit Multifamily Property in Denver

by Amy Works

DENVER — A joint venture between Summit Capital Venture Group and Rockefeller Group has purchased a land parcel at 1158 Delaware St. in Denver’s Golden Triangle neighborhood for the development of an apartment community. Slated to break ground in April 2022, the property is scheduled for completion in early 2024. The community will feature 250 apartments, 2,000 square feet of ground-floor retail space, a 2,000-square-foot fitness center and pool lounge, and a 4,200-square-foot terrace with a pool and spa on the fifth floor. Additionally, the property’s 13th floor will feature a 1,250-square-foot sky deck and an 850-square-foot sky lounge and co-working space.

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DevelopmentGeorgiaMixed-UseSoutheast

Mynd Match to Develop $111M Mixed-Use Property in Metro Atlanta

by Julia Sanders

EAST POINT, GA. — Atlanta-based Mynd Match Development Group LLC has plans to develop The Commons, a $111 million mixed-use project in downtown East Point, about 7.3 miles south of downtown Atlanta. Last month, the East Point City Council voted to enter a development agreement with Mynd Match for the project. The development will sit on a nine-acre site and feature commercial, retail, residential, greenspace and public art. The project team includes TVS as the architect and urban planner and Choate Construction as the general contractor. Additionally, CoRErep will oversee commercial leasing; Baker Tilly will be in charge of project financial structuring; and Honigman is the project counsel. The project will create more than 1,500 jobs, according to Mynd Match. The construction timeline was not disclosed.

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Cinelease Studios
DevelopmentGeorgiaLoansOfficeSoutheast

Woodvale, Timber Hill Secure Financing for Movie Production Campus Expansion in Covington, Georgia

by Julia Sanders

COVINGTON, GA. — A joint venture between Atlanta-based Woodvale LLC and Chicago-based Timber Hill Group has secured an undisclosed amount of construction financing and recapitalization for the expansion of Cinelease Studios – Three Ring, a TV and film production media campus in Covington. Eastdil Secured arranged the financing through Los Angeles-based CIM Group. Pattillo Construction Corp. is the general contractor for the project. The development cost was not disclosed. CIM Group provided a $72 million loan for the development. The loan will be used for the recapitalization of existing Phase I operations and the construction of Phase II. Phase I of the Cinelease Studios was completed in October 2020, with the construction of its second phase slated to start in the first quarter of 2022. Phase I included 233,000 square feet across six sound stages. The project was fully occupied within a month of completion to three production companies: Lionsgate Films, Paramount Pictures and Skydance Media. Phase II will span 336,800 square feet, including 144,000 square feet of sound stages, 92,800 square feet of mill space, 70,000 square feet of office space and 30,000 square feet of third-party vendor storage spread across 90 acres. Amenities will include eight sound stages …

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Sherwood-Bedding-Dallas
DevelopmentIndustrialTexas

Billingsley to Develop 234,395 Build-to-Suit Warehouse for Mattress Manufacturer in Dallas

by Taylor Williams

DALLAS — Billingsley Co. will develop a 234,395-square-foot, build-to-suit warehouse in North Dallas for Sherwood Bedding, a mattress manufacturer that is owned by Tempur Sealy. The property will be located within the 1,700-acre Austin Ranch master-planned community. Construction of the new building is scheduled to begin in February and to be complete in March 2023. Damian Rivera of ESRP represented Sherwood Bedding in the negotiations for the 10-year lease. George Billingsley represented the developer on an internal basis.

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Chestnut-1
DelawareDevelopmentLife SciencesNortheastTop Stories

MRA Group Acquires Life Sciences Campus in Wilmington, Delaware, Begins $500M Redevelopment

by Katie Sloan

WILMINGTON, DEL. — MRA Group has acquired Chestnut Run Lab Campus, a 163-acre life sciences and manufacturing campus in Wilmington, from industrial engineering firm DuPont for an undisclosed price.  MRA Group is underway on a $500 million redevelopment of the property, which is being rebranded the Chestnut Run Innovation & Science Park (CRISP). Located at 984 Centre Road, the development is currently home to 780,000 square feet of lab, research and advanced manufacturing space.  Redevelopment plans for the campus include the addition of a hotel, fitness center, conference space, an outdoor amphitheater and restaurant space. The first renovated building is set to be delivered in late summer 2022. DuPont will continue to lease 190,000 square feet located across two buildings at the property. “We are excited to be back in Delaware with such an incredible opportunity,” says Lawrence Stuardi, founder and CEO of MRA Group. “Our vision for CRISP will set a new standard for innovative campus redevelopment in the region, as we believe it will become Delaware’s leading biotechnology and science hub.” Delaware has the fourth-highest concentration of science, engineering and health employees with doctor of philosophy (Ph.D.) degrees in the nation, according to MRA. The CRISP campus marks …

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Harrison-Urby-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Urby Begins Leasing 381-Unit Apartment Community in Harrison, New Jersey

by Taylor Williams

HARRISON, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has begun leasing its namesake multifamily property in the Northern New Jersey community of Harrison. The community consists of 381 units with studio, one-, two- and three-bedroom floor plans. Amenities include a pool, community garden, grilling areas, fitness center with a basketball court, rentable chef’s kitchen, dog run and an onsite café. Dutch architectural firm Concrete designed the community. Rents start at $1,935 per month for a studio apartment.

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Schilling Green III
DevelopmentMarylandOfficeSoutheast

Merritt Properties Completes Redevelopment of 98,640 SF Office Building in Hunt Valley, Maryland

by Julia Sanders

HUNT VALLEY, MD. — Merritt Properties has completed the speculative redevelopment of Schilling Green III, a 98,640-square-foot office building in Hunt Valley, about 17.9 miles north of Baltimore. Merritt aims for the project to achieve LEED Silver certification and fully open by late February 2022. Located at 226 Schilling Circle, Schilling Green III is a three-story office building that features a community lounge, outdoor patio and surface parking. The property was formerly home to McCormick & Co., a Hunt Valley, Md.-based spice and seasoning company. Now, University of Maryland Orthopaedics has signed on as the building’s first tenant and will move into 16,800 square feet of first-floor space for the use of medical offices, 16 exam rooms and a physical therapy center. The medical practice is relocating from Timonium, a city north of Baltimore. The Schilling Green III project completes Merritt’s Class A campus development at Schilling, which includes neighboring properties Schilling Green I and Schilling Green II. Schilling Green I and II are both LEED Platinum-certified buildings. The Schilling Green business park provides amenities such as an onsite fitness center, community lounge and an outdoor courtyard.

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Capstone-Bothell-WA
DevelopmentMultifamilyStudent HousingWashingtonWestern

Public-Private Partnership Underway on 1,055-Bed Residence Hall at University of Washington Bothell

by Amy Works

BOTHELL, WASH. — Construction is underway on a 1,055-bed residence hall at the University of Washington Bothell. The community is being developed through a public-private partnership (P3) between the university, Capstone Development Partners and Harrison Street. The 300,000-square-foot development will replace Husky Village, an existing on-campus student housing community in Bothell, which is situated roughly 15 miles outside Seattle. The project will include three six-story residential buildings offering suites and apartments for both undergraduate and graduate students. The development will also include a 15,000-square-foot dining facility and 20,000 square feet of office space for university services and administration. Construction began in October on Phase I of the project, which is scheduled for completion in February 2023. Phase II of the development is set for delivery in August 2024. The community was designed by Mahlum Architects and is being constructed by Anderson Construction. Capstone Management Partners will operate and manage the community in coordination with the university upon completion. Capstone and Harrison Street have previously partnered on five P3 developments, including projects with Seattle University, the University of Chicago, Arizona State University Polytechnic, Cornish College of the Arts and the University of South Florida.

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