HEATH, OHIO — VanTrust Real Estate LLC is underway on the development of a 750,000-square-foot build-to-suit warehouse for Owens Corning in Heath, about 30 miles east of Columbus. Completion is slated for the end of the year. The project team includes Pepper Construction Group, RED Architecture, The Kleingers Group and Hull & Associates. AJ Magner, Josh Heiple and Michael Mullady of CBRE represented Owens Corning, which expects to take occupancy in early 2022. Owens Corning, an insulation, roofing and fiberglass composites manufacturer, will consolidate several warehouses currently located throughout the area at the Heath site as part of the new project.
BELLWOOD, ILL. — Duke Realty has unveiled plans to develop a 299,520-square-foot speculative industrial project in Bellwood, about 13 miles west of downtown Chicago. The development will sit on 19 acres at 110 N. 25th Ave. near Chicago O’Hare International Airport and adjacent to a Union Pacific rail line. Plans call for a clear height of 36 feet, 30 dock doors, two drive-in doors, 85 trailer spaces and 345 car parking spaces. Completion is slated for December. Jason Lev and John Suerth of CBRE will market the project for lease.
DENVER — A joint venture between McWhinney and PGIM Real Estate will break ground this month on FoundryLine, an apartment community in Denver. Completion of the 17-story project is slated for mid-2023. Situated in Denver’s River North Arts District, FoundryLine will feature 348 apartments ranging from studio units to three-bedroom layouts and top-floor penthouses, with 30 units dedicated as attainable homes for qualifying residents who meet City of Denver income requirements. Located adjacent to the Regional Transportation District’s 38th & Blake A-Line commuter rail station, the transit-oriented property will also feature a rooftop pool; a curated art collection; sky terrace lounge with a kitchen and indoor/outdoor fireplace; a fitness center with an infrared sauna and steam room; coworking and indoor/outdoor lounge spaces; a dog run; on-site parking; fobbed access control; and Wi-Fi in the common areas. FoundryLine will also offer 14,000 square feet of ground-floor retail and restaurant space and a 282-car parking garage. The project team includes Hensel Phelps as general contractor, AvroKO, Craine Architecture, Dig Studio Office of Architecture and Denver-based Group 14 Engineering. Brady O’Donnell and Jill Haug of CBRE Capital Markets’ Debt & Structured Finance secured construction financing for the project on behalf of the joint …
LOS ANGELES — CGI+ Real Estate Investment Strategies, in partnership with Megdal Investments, has acquired the third and final piece of a 1.7-acre land assembly at the southwest corner of Franklin and Western avenues in Los Angeles’ Los Feliz neighborhood. The single-tenant, 24,000-square-foot property, which Rite Aid formerly occupied, will be redeveloped into 31,000-square-foot Lazy Acres Market, a division of Good Food Holdings. The organic grocery store signed a long-term lease with CGI+. The new store is scheduled to open by year’s end. CGI+ has started renovations and redevelopment, which include reducing the building to its shell and core and increasing the building footprint by 30 percent, or 8,500 square feet. Additionally, the development team will create a new façade and install new electrical and plumbing systems.
DALLAS — A partnership between two development firms, Los Angeles-based Banyan Residential and Indianapolis-based Milhaus, has broken ground on Banyan Beckley, a $59 million multifamily project in Dallas. The site is located just outside the downtown area in a Qualified Opportunity Zone at 1710 N. Beckley Ave. Designed by architecture firm JHP, Banyan Beckley will offer 279 units in one-, two- and three-bedroom floor plans, as well as in micro-units and studio configurations. Amenities will include a pool, mobile workspaces, clubhouse and a rooftop deck. Hillcrest Bank provided $38.2 million in construction financing for the project, which marks Banyan Residential’s entry into the Dallas market. Other project partners include Oden Hughes, Vignette Interior Design and SPIARS Engineering. Completion is slated for 2023.
NORWOOD, MASS. — Moderna Inc. will expand its Moderna Technology Center biomanufacturing campus in Norwood, a southern suburb of Boston, by about 350,000 square feet. The biotechnology and pharmaceutical giant plans to renovate and expand its existing production and lab space and has acquired a 240,000-square-foot building on the same campus, ultimately yielding a 50 percent expansion and a total footprint of 650,000 square feet. The expansion will support Moderna’s efforts to ramp up production of its COVID-19 vaccine in late 2021 and early 2022. Moderna originally opened this facility in 2018.
YORK, PA. — WMG Partners, a subsidiary of Miami-based MCSS Self-Storage Development & Investment, has purchased a 126,000-square-foot department store at 2899 Whiteford Road in York. The company plans to convert the shuttered property, which sits on a 7.5-acre site and was previously occupied by Bon-Ton, into a 900-unit self-storage facility that will be managed by Life Storage. Construction is scheduled to begin in August.
STATESVILLE, N.C. — Heavy equipment manufacturer Doosan Bobcat North America plans to build a $70 million expansion of its manufacturing facility in Statesville. The company’s acquisition of 68 acres adjacent to its existing 92-acre campus will allow for the addition of 500,000 square feet of attached manufacturing space and 80,000 square feet of attached warehouse and distribution space. The project will create 250 full-time jobs over the next five years in Iredell County. Construction is expected to begin in July, with full project completion expected for May 2022.The company previously completed an $11 million facility upgrade at Statesville in January. Doosan Bobcat’s latest expansion will grow the floorplan from nearly 500,000 square feet to more than 1 million square feet when complete. With the expansion, the company plans to hire more people, including positions in production, manufacturing, engineering and operations. Doosan Bobcat North America is based in West Fargo, North Dakota, and is a global manufacturer of construction, agriculture, landscaping and grounds maintenance equipment, attachments and services. Doosan Bobcat employs approximately 4,500 people at 13 facilities across seven states.
ST. PETERSBURG, FLA. — InvenTrust Properties Corp. will redevelop Gateway Market Center, a 231,058-square-foot shopping center in the Tampa Bay area anchored by Target and Publix. The property is located at 7751-8229 9th St. N in St. Petersburg. Construction is scheduled to begin in the first quarter of 2022 with the renovation taking approximately 18 months to complete. InvenTrust’s improvements to Gateway Market Center will include the demolition of approximately 60,000 square feet of existing building area and the construction of several new buildings. Two new anchor-sized buildings will be developed at the center while three new buildings for small shop tenants and restaurants will also be added. Two outparcel buildings will have large sidewalks and an outdoor seating area. Smaller shop spaces will be able to accommodate tenants of varying sizes, up to 10,000 square feet. Gateway Market Center is located in north St. Petersburg with access to U.S. Highway 92. Matt Hagan and Kara Morabito of InvenTrust will oversee leasing at Gateway Market Center.
TAMPA, FLA. — Two new retail tenants have opened at Westshore Marina District in Tampa. The construction of the retail portion of the 52-acre mixed-use development is currently being completed. The two new tenants are Cru Cellars and Sand Surf Co. Cru Cellars, which signed a lease in August 2019, and Sand Surf Co., which signed a lease in September 2019, are the first of several retailers that will open their doors at Marina Landings, Westshore Marina District’s 70,000-square-foot town center. Fort Lauderdale-based BTI Partners is the developer of Westshore Marina District. The 2,400-square-foot Cru Cellars wine bar and restaurant is set to open on May 10. The restaurant will serve wines-by-the-glass and cooking by executive chef Zack Sylvester. Marina Landings at Westshore Marina District is Cru Cellars’ third Tampa location. Sand Surf Co., which opened at the beginning of May, occupies 1,270 square feet of space and offers women’s and men’s apparel, as well as accessories tied to surf culture. Sand Surf Co. at Marina Landings is the store’s new flagship location and is home to many different brands, including Quicksilver/Roxy, Billabong, Duvin, Frankie’s Bikini’s, Kulani Kini’s, Maaji, Olukai, Rainbow Sandals and Lulifama. Located on Old Tampa Bay across …