Development

Amazon to Retrofit Vacant Kmart as Last-Mile Facility in Bakersfield, California

by Amy Works April 5, 2021

BAKERSFIELD, CALIF. — The City of Bakersfield has announced that Amazon will convert a vacant big-box retail property, located at 3500-3600 Wilson Road in Bakersfield, into a last-mile facility. The new facility will create approximately 200 new permanent jobs. Formerly a Kmart, the 93,000-square-foot property will undergo a $20 million renovation. Amazon is expected to begin operations in fourth-quarter 2021. Renovations will include a new roof and parking lot, enhanced lighting, landscaping and the addition of roll-up bay doors. Amazon is growing its last-mile delivery efforts to speed up customer delivery times and provide new innovations to customers, according to Amazon.

April 5, 2021

California Development Industrial Loans Top Stories Western

Bank OZK Provides $105M Construction Loan for Industrial Project in Southern California

by Taylor Williams April 5, 2021

CHERRY VALLEY, CALIF. — Bank OZK has provided a $105 million construction loan for the development of I-10 Logistics Center, a 1.8 million-square-foot industrial project located near the crossing of Interstate 10 and Cherry Valley Boulevard in Southern California. The borrower is a joint venture between locally based developer Shopoff Realty Investments and Artemis Real Estate Partners, an investment management firm based in the Washington, D.C. metro area. Mark Strauss and Rob Quarton of Walker & Dunlop arranged the debt, specific terms of which were not disclosed, on behalf of the joint venture. Situated on 155 acres, I-10 Logistics Center will consist of two buildings spanning approximately 815,000 and 1 million square feet. The development will feature 40-foot clear heights, 665 car parking spaces, 585 trailer parking spaces and 296 dock-high doors. Site work is set to begin in April, and construction is scheduled for completion by summer 2022. CBRE is marketing the project for lease. “This project represents one of the few opportunities to develop much-needed logistics product in Southern California,” says William Shopoff, president and CEO of Shopoff Realty Investments. “This state-of-the-art logistics center with I-10 freeway access will be in high demand as users continue to require …

April 5, 2021

Data Centers Development Industrial South Carolina Southeast

DC Blox, Brasfield & Gorrie Break Ground on Data Center in Greenville

by Julia Sanders April 2, 2021

GREENVILLE, S.C. — DC Blox, a provider of interconnected multi-tenant data centers, has broken ground on a multi-tenant regional data center in Greenville. With an initial capacity of 1 MW of critical load, the first phase of DC Blox’s new Greenville data center is set to be completed by the third quarter of 2021. The Atlanta-based firm is partnering with Brasfield & Gorrie, a privately held construction firm, on the project. When complete, the data center will offer access to DC Blox’s private and redundant ecosystem, interconnecting the company’s portfolio of data centers throughout the Southeast. The address for the center is 33 Global Drive. DC Blox’s Greenville data center will be located on an 8.5 acre campus in the Global Business Park off Interstate 85. Upon full buildout, the facility will feature six distinct data halls with 54,000 square feet of data center space with a full critical load capable of supporting 18 megawatts of power. The data center will also include approximately 7,000 square feet of secure storage, as well as shared and dedicated office space. The new data center will bring an expected investment of over $200 million combined between DC Blox and their tenant customers over …

April 2, 2021

Development Mixed-Use Texas

JaRyCo Breaks Ground on 135-Acre Farm at Allen Mixed-Use Project in Metro Dallas

by Taylor Williams April 2, 2021

ALLEN, TEXAS — Locally based developer JaRyCo has broken ground on The Farm at Allen, a 135-acre mixed-use project located at the southeast corner of the Sam Rayburn Tollway and Alma Drive in the northeastern Dallas suburb of Allen. The site was originally purchased by local resident Bob Johnson Sr. and his wife, Doris, in the 1960s and used for raising cattle and growing corn, wheat and hay. Plans for the project call for 1.6 million square feet of office space, 142,000 square feet of retail space, 60,000 square feet of restaurant space, a 150-room hotel, townhomes and 2,400 urban residential units. The initial phase of development includes construction of FarmWORK One, a 102,000-square-foot office building, and The Hub, a food hall with a stage for live music and other events. Both of those components of the project are expected to be complete in 2022. Roughly a quarter of the total acreage will be devoted to outdoor space, including a 1.5-acre lake, 2.5 miles of hiking and biking trails, a 16-acre greenbelt along Watters Creek and four additional park areas. Leasing is underway for the office and retail components, with Avison Young and Venture Commercial respectively leading those initiatives.

April 2, 2021

Development Illinois Industrial Midwest

McShane to Construct Three-Building Spec Industrial Development in Melrose Park

by Kristin Harlow April 2, 2021

MELROSE PARK, ILL. — McShane Construction Co. will build Industry Center at Melrose Park, a three-building, speculative industrial development in suburban Chicago. LBA Logistics is the developer. The project will total 651,617 square feet. Building I will span 130,200 square feet with a clear height of 36 feet, up to 37 truck docks, two drive-in doors, 44 trailer stalls and 151 parking spaces. Building 2 will total 350,248 square feet with a clear height of 36 feet, up to 72 truck docks, two drive-in doors, 142 trailer stalls and 251 parking spaces. Building 3 will provide 171,169 square feet with a clear height of 36 feet, up to 43 truck docks, two drive-in doors, 83 trailer stalls and 215 parking spaces. McShane demolished an existing building on the site. Harris Architects is the project architect. A timeline for completion was not disclosed.

April 2, 2021

Development Industrial Texas

Black Creek Group Completes 569,000 SF Carter Park Industrial Development in Fort Worth

by Taylor Williams April 2, 2021

FORT WORTH, TEXAS — Denver-based Black Creek Group has completed Carter Park, a 569,000-square-foot industrial development located near the interchange of Interstates 20 and 35 in south Fort Worth. Designed by Callaway Architecture, Carter Park consists of three buildings spanning 250,000, 231,000 and 88,000 square feet that feature 32-foot clear heights, a total of 100 dock doors and ESFR sprinkler systems. Cadence McShane served as the general contractor for the project.

April 2, 2021

Development Industrial Texas

Cold Creek Solutions to Develop 374,560 SF Spec Cold Storage Facility in Denton, Texas

by Taylor Williams April 2, 2021

DENTON TEXAS — Cold Creek Solutions will develop a 374,560-square-foot speculative cold storage facility on a 23-acre site just northwest of Interstate 35 and Barthold Road in the North Texas city of Denton. The facility will feature 45-foot clear heights, more than 60,000 pallet positions, multiple tenant suites with convertible temperature functionality, 65 trailer parking spaces and ample car parking. The developer is seeking a joint venture equity partner and has engaged JLL to market that opportunity.

April 2, 2021

Development Multifamily New Jersey Northeast

Claremont Development Nears Completion of 240-Unit Multifamily Project in Park Ridge, New Jersey

by Taylor Williams April 2, 2021

PARK RIDGE, N.J. — Claremont Development is nearing completion of The James, a 240-unit multifamily project located at 87 Madison Ave. in the Northern New Jersey community of Park Ridge. The property, which also houses 17,600 square feet of retail space, offers studio, one- and two-bedroom units with stainless steel appliances, quartz countertops, espresso cabinetry and tile backsplashes. Indoor amenities include a coffee bar, game room, catering kitchen, coworking spaces with private offices, fitness center and a yoga studio. Outside, residents have access to multiple gathering areas, including an outdoor pool, grilling and dining areas, fire pits, TV and lounge areas and a turf lawn. Leasing will begin some time this spring.

April 2, 2021

Development Industrial North Carolina Southeast

Edgewater Ventures, McKinley Building to Develop 425,000 SF Industrial Park in Wilmington, North Carolina

by Julia Sanders April 1, 2021

WILMINGTON, N.C. — Edgewater Ventures is co-developing with McKinley Building Corp. the Wilmington Trade Center, a three-building, Class A industrial park that will total 425,000 square feet upon completion. Construction is underway on Building 1, a 157,610-square-foot facility that will feature tilt-up concrete construction with extensive glass lines, 32-foot clear heights, an ESFR sprinkler system and a 180-foot deep truck court. The property is slated to deliver in early September and will accommodate tenants ranging in size from 22,000 to 157,610 square feet. Wilmington Trade Center is situated on Highway 421 near the interchange at Interstate 140. The development is 4.2 miles from downtown Wilmington, 6.7 miles from Wilmington International Airport and 8.7 miles from the Port of Wilmington.

April 1, 2021

Development Florida Loans Multifamily Southeast

CBRE Arranges Financing for 133-Unit Apartment Project in Jacksonville

by Julia Sanders April 1, 2021

JACKSONVILLE, FLA. — CBRE has arranged financing for a new 133-unit multifamily project in Jacksonville called The Hendricks at San Marco. The $30 million apartment development in the city’s San Marco neighborhood will be located near the corner of Atlantic Boulevard and Hendricks Avenue. Jeff Kinney and Phil Rachels of CBRE arranged the funding on behalf of the development team, Harbert Realty Services and Corner Lot Development. The financing included a three-year construction loan through First Horizon Bank and joint venture equity from GMC Properties, which will also manage the property upon completion. The Hendricks at San Marco will be located next to the Publix-anchored East San Marco shopping center. Construction on the apartment community is expected to start this month.

April 1, 2021

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