Development

Larken Associates Breaks Ground on 150,000 SF Industrial Project in Flemington, New Jersey

by Taylor Williams February 11, 2022

FLEMINGTON, N.J. — New Jersey-based developer Larken Associates has broken ground on a four-building, 150,000-square-foot industrial project in Flemington, about 60 miles west of New York City. Flemington Junction Business Center will be situated on a 29-acre site and will be able to accommodate tenants with requirements from 1,250 to 40,000 square feet. Building features will include clear heights of 32 feet, LED warehouse lighting and a total of 270 parking spaces. The project is 27 percent preleased, and the development team expects the complex to be available for occupancy in the fourth quarter.

February 11, 2022

Development Multifamily New York Northeast Seniors Housing

Chelsea Senior Living Completes Expansion Project in Yaphank, New York

by Taylor Williams February 11, 2022

YAPHANK, N.Y. — Chelsea Senior Living has completed an assisted living and memory care expansion project at The Chelsea at Brookhaven, located in the Long Island hamlet of Yaphank. The number of units was not disclosed. While the community’s independent living portion has been open for the past two years, the assisted living and memory care building next door recently received licensing approval from the state.

February 11, 2022

Development Midwest Multifamily Ohio

NorthPointe Group, PLK Communities to Build 180-Unit Apartment Complex in Delhi Township, Ohio

by Kristin Harlow February 11, 2022

DELHI TOWNSHIP, OHIO — A partnership between NorthPointe Group and PLK Communities is building Veridian Delhi Towne Square, a 180-unit apartment complex in Delhi Township, just west of Cincinnati. The project is the township’s first new, market-rate rental product in 40 years, according to the developers. PLK Construction will serve as general contractor, and PLK Communities will serve as property manager upon completion. The pet-friendly community will feature garden-style units that range in size from 600 to 1,600 square feet. The first units are slated for occupancy by summer 2023.

February 11, 2022

Development Florida Industrial North Carolina South Carolina Top Stories

Crescent Communities Breaks Ground on Three Industrial Projects Totaling 1.7 MSF

by Julia Sanders February 11, 2022

CHARLOTTE, N.C. — Charlotte-based Crescent Communities has broken ground on three industrial properties totaling 1.7 million square feet. The company plans to build eight buildings across three markets known as AXIAL Crosspoint in Greenville, S.C.; AXIAL Bonds Farm in Concord, N.C.; and AXIAL 301 Manatee in Bradenton, Fla. The firm bought the project land for an undisclosed price, and the seller of the land was not disclosed. Along with the three land transactions, Crescent Communities announced a new brand name for its industrial platform, AXIAL Industrial. The brand will first be executed through the AXIAL Bonds Farm, AXIAL Crosspoint and AXIAL 301 Manatee projects, which are all set to begin construction soon this year and are slated for completion in 2023. “With the debut of AXIAL Industrial, we will provide our clients with a one-stop platform featuring a thoughtful and diligent process for each industrial development, from land acquisition to product development for each specific location and every stage in between,” says Bryan Blythe, managing director of AXIAL Industrial at Crescent Communities’ Commercial business unit. AXIAL Bonds Farm will feature three rear-load buildings totaling 809,720 square feet. The property will also offer various-sized buildings with ample employee parking. The property …

February 11, 2022

Development Industrial Leasing Activity Southeast Virginia

Lowe’s Signs Lease for 60,000 SF Warehouse Development in Salem, Virginia

by Julia Sanders February 10, 2022

SALEM, VA. — Lowe’s Home Centers LLC has signed a lease for a 60,000-square-foot warehouse in Roanoke County’s Valley Tech Park in Salem. Roanoke, Va.-based Samet Corp. and North Carolina-based Valley Tech Partners LLC purchased the 8.5-acre site at 0 Technology Drive for the project. Construction is expected to begin in the first quarter and will be completed within a year. Boyd Johnson of Cushman & Wakefield | Thalhimer arranged the Lowe’s lease and land acquisition on behalf of the landlords.

February 10, 2022

Development Midwest Missouri Multifamily

Holland Construction Services Completes $41.2M Apartment Complex in O’Fallon, Missouri

by Kristin Harlow February 10, 2022

O’FALLON, MO. — Holland Construction Services has completed The Jewel Apartments, a $41.2 million apartment complex in O’Fallon, a western suburb of St. Louis. Tennessee-based Vita Residential was the developer. Located at 9200 Veterans Memorial Parkway, the 240-unit property consists of 10 buildings. Amenities include a clubhouse, pool, family room, fitness area and dog park. The property is currently 95 percent occupied. Vita is now finalizing development plans with Holland on a similar 240-unit project called The Jewel at Whispering Oaks in Swansea, Ill. Construction is expected to begin in May.

February 10, 2022

Acquisitions Development Midwest Minnesota Multifamily

JLL Negotiates Sale of Multifamily Development Site in Minneapolis

by Kristin Harlow February 10, 2022

MINNEAPOLIS — JLL Capital Markets has negotiated the sale of a multifamily development site on Oak Grove Street in the Loring Park neighborhood of Minneapolis. The sales price was undisclosed. The buyer is an affiliate of Linden Street Investments, which also has developments in downtown east and the southwest suburbs of Minneapolis. Josh Talberg, Mox Gunderson, Dan Linnell and Adam Haydon of JLL represented the seller, The Woman’s Club of Minneapolis. The site is home to the club’s former parking lot. The buyer’s development plans were not released.

February 10, 2022

Development Life Sciences North Carolina Southeast Top Stories

Crescent Communities, Nuveen to Expand $500M Life Sciences Project Near North Carolina’s Research Triangle

by Katie Sloan February 10, 2022

HOLLY SPRINGS, N.C. — A joint venture between Crescent Communities and Nuveen Real Estate has acquired a 120-acre development site to expand The Yield, a $500 million life sciences development currently underway in Holly Springs, roughly 23 miles south of North Carolina’s Research Triangle. Crescent Communities broke ground on the project’s first phase of development in December 2021, which will include two 105,000-square-foot biomanufacturing buildings, 52,000 square feet of lab and office space and retail. Phase I is scheduled for delivery this summer. Crescent and Nuveen are set to break ground on the second phase of development later this year, which will expand the development through the addition of 2 million square feet of lab, office and manufacturing space. Further details on Phase II of the project were undisclosed. The Research Triangle remains a top life sciences market in the U.S., with recently announced projects including the development of a $1 billion life sciences campus in Morrisville; the acquisition and expansion of Research Commons, a life sciences campus within Research Triangle Park in Durham; and the redevelopment of a 110,500-square-foot life sciences property in Raleigh. John Brewer, Brian Carr and Ann-Stewart Patterson of CBRE are in charge of leasing for …

February 10, 2022

Arizona Development Industrial Western

CapRock Breaks Ground on 3.4 MSF Spec Industrial Complex in Central Phoenix

by Amy Works February 9, 2022

PHOENIX — CapRock Partners has broken ground on CapRock West 202 Logistics, a 3.4 million-square-foot speculative infill industrial property in central Phoenix. Grading has commenced for the first phase of the 183-acre development. The first phase will include the development of approximately 140 acres, delivering 2.5 million square feet of modern industrial warehouse space across five Class A buildings with clear heights ranging from 36 feet to 40 feet. Completion of the first phase is slated for first-quarter 2023. Phase II will include an additional three buildings totaling 827,330 square feet on 43 acres. Timing of the second phase’s start will be announced at a later date. Willmeng Construction is serving as general contractor, Carlile Coatsworth Architects as architect and Kimley Horn as engineer.

February 9, 2022

Development Mixed-Use North Carolina Southeast

Tepper Sports Nears Completion for $50M Bank of America Stadium Renovation Project in Uptown Charlotte

by Julia Sanders February 9, 2022

CHARLOTTE, N.C. — Locally based Tepper Sports & Entertainment is nearing completion for the redevelopment of Bank of America Stadium, a football stadium in Uptown Charlotte and home of the NFL Carolina Panthers. The development cost for the project was about $50 million. The project started in March 2021 and is expected to be complete next month. Bank of America Stadium is a 75,412-seat arena located on 33 acres. The renovation included the addition of a 211-foot LED screen and a new premium club space called The Vault, which offers field-side cushioned seats, food and drink options, a full-service bar, concierge service and a private indoor lounge. The exclusive club area will offer a range of 100 to 150 seats for Charlotte FC, the city’s professional soccer team, as well as Carolina Panthers games. The project also includes an improved Lowe’s East Gate, upgrading the main concourses to have five grab-and-go markets and two bars with two 360-degree LED displays. Lastly, the project also added a new 2,600-square-foot locker room for the Charlotte FC team with 30 lockers, USB charging ports, a coaching wall and eight television screens.

February 9, 2022

Newer Posts

Older Posts