Development

Mack-Cali Unveils Latest Phase of Redevelopment of 4.3 MSF Harborside Campus in Jersey City

by Taylor Williams May 11, 2021

JERSEY CITY, N.J. — Mack-Cali Realty Corp. (NYSE: CLI) has unveiled the latest phase of the redevelopment of Harborside, a 4.3 million-square-foot mixed-use campus in Jersey City. The redevelopment of the 422,590-square-foot Harborside 1, which is one of five office buildings on the campus, is complete and includes a new façade and lobby, as well as infrastructure upgrades. The building also features a private terrace on the fourth floor with views of the Hudson River and Manhattan skyline. As part of this phase, Mack-Cali also introduced new art installations and public spaces and announced summer programming, including the opening of Smorgasburg, an open-air food market. Harborside also features 71,000 square feet of retail and restaurant space, fitness and wellness programming, a 351-room Hyatt Regency hotel, a food hall and a daycare center. In addition, the site can support approximately 3.5 million square feet of new commercial and residential development.

May 11, 2021

Development Kansas Midwest Office

Torch.AI to Expand Operations in Metro Kansas City, Create Nearly 500 Jobs

by Kristin Harlow May 11, 2021

LEAWOOD, KAN. — Torch.AI, a global artificial intelligence firm, has unveiled plans to expand its operations in Leawood and create nearly 500 full-time jobs over five years as part of a $27 million tax incentive package awarded by the Kansas Department of Commerce. The firm plans to hire more than 100 new professionals this year alone. Torch.AI is also making a significant capital investment in collaborative workspaces for its employees. The announcement comes on the heels of Torch.AI’s $30 million raise in Series A funding to accelerate its overall growth strategy. WestCap Group, a San Francisco-based investment firm, led the funding.

May 11, 2021

Development Illinois Industrial Midwest

McShane Underway on 429,524 SF Industrial Expansion for Abt Electronics in Glenview, Illinois

by Kristin Harlow May 11, 2021

GLENVIEW, ILL. — McShane Construction Co. is underway on a 429,524-square-foot addition to the existing warehouse and showroom facility for Abt Electronics in Glenview, about 15 miles northwest of Chicago. The expansion will incorporate two three-story office blocks totaling 22,230 square feet and 407,294 square feet of warehouse space. The office buildout will include trucking offices, security offices, a breakroom and open office space. The warehouse will feature a clear height of 32 feet, and 39 semi-truck docks. Completion is slated for October. Camburas & Theodore is the project architect. Abt is an electronics, appliances and home goods retailer.

May 11, 2021

Development Mixed-Use New York Northeast Office Retail Top Stories

Macy’s Proposes Overhaul of Herald Square Store in Manhattan, Including New Office Tower

by John Nelson May 11, 2021

NEW YORK CITY — Macy’s Inc. (NYSE: M) has unveiled plans to overhaul its flagship Herald Square store at the corner of 34th Street and Seventh Avenue in Midtown Manhattan. The plan would add a commercial office tower atop the store. The size and design features of the office component were not disclosed. The plan includes a private investment totaling $235 million by Macy’s that would modernize the public spaces around the flagship store, including upgraded subway access, improved transit connections and pedestrian-friendly and car-free streetscapes at Broadway Plaza and Herald Square. Macy’s would improve Herald Square Subway Station’s entrances and add publicly accessible elevators at Seventh Avenue, Broadway, 34th Street and 35th Street that are compliant with Americans with Disabilities Act (ADA). The renewal plan is expected to generate $269 million annually in new tax revenues for New York City, support 16,290 annual jobs and spark $4.29 billion in annual economic output, according to Macy’s. “Today’s announcement is a resounding vote of confidence for Manhattan and the entire state, and a strong indication that New York’s retailers and consumers will drive this economic recovery,” says Melissa O’Connor, president and CEO of the Retail Council of New York State, the …

May 11, 2021

Development Industrial Louisiana Southeast Top Stories

Amazon to Open 650,000 SF Fulfillment Center in Northwestern Louisiana, Create 1,000 Jobs

by Taylor Williams May 10, 2021

SHREVEPORT, LA. — Amazon Inc. (NASDAQ: AMZ) has planned a 650,000-square-foot fulfillment center in the northwestern Louisiana city of Shreveport. The Louisiana Economic Development (LED) organization claims the development will generate $200 million in capital investment and add more than 1,000 jobs to the local economy. The site of the multi-level building, which will feature automated inventory management and shipping technology, is located within Hunter Industrial Park, a 135-acre development situated within three miles of interstates 20,49 and 220. The property will also be LEED certified. The Shreveport Times reports that the fulfillment center will be Amazon’s first in northern Louisiana. The Seattle-based e-commerce giant announced a fulfillment center in Carencro, located outside of Lafayette in the southern part of the state, in December, and is also planning to convert the Cortana Mall in Baton Rouge into a fulfillment center, according to the local newspaper. Of the seven Amazon facilities that have been announced or are under construction in Louisiana, the Shreveport fulfillment center will be the largest. Construction is set to begin immediately with completion expected in September 2022. In addition to the 1,000 full-time jobs at the facility, development of the new fulfillment center is expected to create …

May 10, 2021

Development Illinois Industrial Midwest

Lion Electric to Invest $70M in Joliet, Build Electric Vehicle Manufacturing Facility

by Kristin Harlow May 10, 2021

JOLIET, ILL. — Lion Electric Co., a Canadian manufacturer of all-electric buses and trucks, has unveiled plans to build its first-ever U.S. manufacturing facility in Joliet. A minimum of $70 million will be invested to build a new facility dedicated to producing electric vehicles. The 900,000-square-foot project is expected to come online in the second half of 2022. Annual production capacity is estimated at 20,000 zero-emission vehicles per year, creating at least 745 jobs for Illinoisans. Lion is known for its production of electric school buses. The Illinois Department of Commerce and Economic Opportunity worked with the state’s public-private economic development partner, Intersect Illinois, to put together a site selection process that involved both virtual and in-person site visits, economic analysis and coordination with local officials and utilities. Lion has qualified for the state’s EDGE incentive program, a tool to support companies making large-scale capital investments that lead to significant job creation.

May 10, 2021

Development Mixed-Use Texas

Craig International Unveils Plans for $250M District 121 Mixed-Use Project in McKinney, Texas

by Taylor Williams May 10, 2021

MCKINNEY, TEXAS — Developer Craig International has unveiled plans for District 121, a $250 million mixed-use project that will be located on 17.5 acres next to the Craig Ranch master-planned community in McKinney. Phase I of the project consists of a 200,000-square-foot office building by Kaizen Development that is currently under construction, as well as 40,000 square feet of retail and restaurant space, an 800-space parking garage and green space known as The Commons. District 121 will eventually include 520,000 square feet of office space and a hotel. SHOP Cos. has been tapped to lease the retail and restaurant space.

May 10, 2021

Development Hospitality Oklahoma Texas

Lambert Breaks Ground on 92-Room NOUN Hotel in Norman, Oklahoma

by Taylor Williams May 10, 2021

NORMAN, OKLA. — Lambert, a hospitality development and management firm, has broken ground on the NOUN Hotel, a boutique property that will be situated near the University of Oklahoma’s campus in the downtown area. The hotel will 92 guestrooms, including two 900-square-foot suites, as well as a banquet room and several bars with indoor and outdoor seating. Completion is slated for summer 2022.

May 10, 2021

Development Mixed-Use Office Retail South Carolina Southeast

Sharbell Breaks Ground on Downtown Nexton Mixed-Use Project Near Charleston

by Julia Sanders May 10, 2021

SUMMERVILLE, S.C. — New Jersey-based Sharbell Development Corp. has broken ground on Downtown Nexton, an urban-inspired mixed-use development in Summerville. Downtown Nexton will be situated on nearly 100 acres between Sigma Drive and Brighton Park Boulevard, about 24 miles away from Charleston. Upon completion, Downtown Nexton will provide retail, dining, hospitality, residential, service, office and commercial options. The first phase of the Downtown Nexton project is slated to be completed in 2022 and will include multifamily residences, a mixed-use building with loft apartments above ground-level retail and several outparcels. In addition, Phase I will feature various walking trails, pocket parks and two ponds with walking trails on the north and south sides of the development. Downtown Nexton will offer over 110,000 square feet of both for-sale and rental office space within several two-story office buildings. The buildings will feature parking, multiple entry points, green space and Nexton’s GigaFi internet services. CBRE’s Charleston office will market the office component for lease. The project will also include three apartment parcels, each with their own amenity packages. One of these parcels is intended to be an age-restricted (55-plus) upscale rental community. Additionally, some of the mixed-use buildings will include upper-floor lofts. Amenities for …

May 10, 2021

Development Multifamily New Jersey Northeast

LeFrak Organization Begins Leasing 336-Unit Multifamily Community in Newport, New Jersey

by Taylor Williams May 10, 2021

NEWPORT, N.J. — The LeFrak Organization, a family-owned development firm, has begun leasing The Beach, a 336-unit multifamily community in Newport, located across the Hudson River from Lower Manhattan. Designed by HLW Architects, the waterfront property offers studio, one-, two-, three- and four-bedroom units with private terraces or balconies. Amenities include a pool, fitness center, coworking lounge, dog park, package lockers, children’s play area, library, game room and a rooftop lounge with a wet bar. Rents start at $2,450 per month for a studio apartment.

May 10, 2021

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