NEEDHAM, MASS. — International Data Group (IDG), a market research and data analytics firm, has opened a new, 125,000-square-foot office headquarters in the western Boston suburb of Needham. The company will consolidate its three main business units — IDC, IDG Communications and primary corporate entity IDG — under one roof. Dyer Brown, an architecture and interior design firm with offices in Boston and Atlanta, designed the facility, which can accommodate about 500 employees.
KISSIMMEE, FLA. — JLL Capital Markets has secured $59 million in bridge financing for the development of Dolce Living Royal Palm, a 326-unit multifamily property located in Kissimmee. Gregory Nalbandian and Jesse Wright of JLL led the team representing the borrower, Sovereign Properties, to secure a three-year, non-recourse bridge loan through Värde Partners. The property is set to open in May. The lease-up bridge financing will retire the existing constriction loan and preferred equity, lower the sponsor’s cost of capital as it begins to lease-up the property, fund remaining construction costs to complete the project and return a portion of the sponsor’s invested equity. Dolce Living Royal Palm apartments will include one-, two- and three-bedroom units averaging 956 square feet. Community amenities will include a swimming pool, media center, movie theater, billiards and game room and golf simulator. Located at 3250 Orleans Ave., the property is situated 5.3 miles from Walt Disney World Resort, 26 miles from Orlando International Airport and 31 miles from downtown Orlando.
BUFORD, GA. — Topgolf Entertainment Group plans to open its fourth Georgia venue in Buford tomorrow. The property will anchor Exchange at Gwinnett, a mixed-use development by locally based Fuqua Development near Mall of Georgia. The Exchange at Gwinnett has more than 465,000 square feet of retail and restaurants, office space, hotel space and residential units. Other than Topgolf, The Exchange will include retailers such as Five Guys, Starbucks Coffee, Four Fat Cows, Chipotle and Sprouts Farmers Market. Topgolf Buford will be a two-floor venue with 72 climate-controlled hitting bays. Other amenities include a chef-driven food and beverage menu that guests can order from during their stay. Topgolf offers reservations online or walk-ins. Topgolf says safety protocols have also been put in place in the new Buford location. The venue will be equipped with social distancing markers, as well as bay dividers to establish barriers between groups. Bays, golf clubs and game screens will be disinfected after each group, and common areas will be disinfected every hour by roving cleaning teams. Additionally, all workers will be required to undergo wellness screenings prior to each shift.
ARLINGTON, TEXAS — Dallas-based StreetLights Residential has broken ground on Phase II of Viridian, a project in Arlington that will add 343 luxury apartments to the local supply. Units will feature one-, two- and three-bedroom floor plans ranging in size from 588 to 1,674 square feet. The development will also feature 32 townhomes averaging 1,902 square feet. Residences will be furnished with granite countertops, tile backsplashes, custom flooring and cabinetry, smart home features and individual washers and dryers. Communal amenities will include a pool, lounge with coworking space, fitness center, an outdoor exercise and event lawn, pet park, golf simulator and a clubroom with a TV. StreetLights Creative Studio is the architect of record for the project, and SLR Construction LLC is the general contractor. Completion is slated for spring 2023. Viridian is a 2,000-acre mixed-use development with residential, retail and entertainment uses, along with multiple lakes and open green spaces.
BELLEVUE, WASH. — PMF Investments has completed the disposition of BelleVista Place, a mixed-use, master-planned development site located at 100 112th Ave. NE in Bellevue. An undisclosed buyer acquired the 4.9-acre site for $152.2 million. Designed by CollinsWoerman, the project will feature residential, office and retail space, as well as subterranean parking. According to the City of Bellevue’s first-quarter 2020 Downtown Bellevue Major Projects List, the development team is seeking approval for a two-phase project with a 17-story office tower and five-story residential building in the initial phase and a 17-story office tower and 15-story office building in the second phase. In total, the proposed project would bring approximately 138 residential units, 987,140 square feet of office space and 1,051 parking spaces. With substantial work already completed on the design and city entitlements, the Class A project is slated to begin delivery in 2024. Kevin Shannon, Ken White, Tim O’Keefe, Nick Kucha and Rob Hannan of Newmark represented the seller in the transaction.
DAVIS, CALIF. — HighBridge Properties has started construction of The Ryder on Olive, a 706-bed development near the University of California, Davis. The 260,000-square-foot community is set for delivery in August 2021 and will offer a mix of fully furnished two-, three-, four- and five-bedroom units. Shared amenities will include a fitness center, yoga room, study areas, game rooms, a swimming pool, karaoke room, dog park and a 24-hour micro-market offering food and drinks. The project’s development team includes partner Grand Peaks Development; general contractor Brown Construction; Humphreys & Partners Architects; and South Park Interiors. Asset Living will manage the community.
THE WOODLANDS, TEXAS — JLL’s Project & Development Services division has topped out Memorial Hermann The Woodlands Medical Center, a 365,000-square-foot medical office project located about 30 miles north of Houston. Construction of the nine-story building began in early 2020 and is expected to be complete in spring 2022. Austin Commercial is serving as the general contractor of the project. PhiloWilke served as the architect, and SSA was the engineer. JLL’s Project & Development Services division is leading development of the project along with Memorial Hermann Hospital System’s executive team.
HOUSTON — A partnership between locally based developer Boomerang Interests and CenterSquare, a global investment manager based in metro Philadelphia, will develop Houston ColdPort, a 315,101-square-foot speculative cold storage facility. Building features will include 50-foot clear heights, 38 fully automated dock positions, a 200-foot truck court, 57 trailer parking spaces and the ability to accommodate up to 40,000 pallet positions. Dallas-based design-build firm ARCO/Murray is designing and constructing the property, which will be able to support one or two tenants. Completion is scheduled for the second quarter of 2022.
FRISCO, TEXAS — Careington International Corp., a provider of medical and dental insurance, has opened a 75,000-square-foot office at 6435 Flyers Way in Frisco. The office space includes a call center, conference rooms, training rooms, quality assurance department space, an IT room, server room break room, open office space and executive offices. Dallas-based Merriman Anderson Architects designed the project, and Buckman Partnership Ltd. developed it. Careington has operated out of Frisco since 2001, and its employee based has grown from 60 to 425 during that stretch.
PHILADELPHIA — GMH Capital Partners LP, in partnership with Wexford Science & Technology LLC, is nearing completion of ANOVA at uCity Square, a 461-unit multifamily project in Philadelphia’s University City area. The property will include 14,000 square feet of retail space and a 157-space parking garage. Units will feature one-, two- and three-bedroom floor plans with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities will include a pool, indoor and outdoor lounges, fitness center with yoga and spin studios, coworking spaces, a complimentary coffee bar and beer taps, golf simulator and a dog washing station. Construction began in March 2020 and is scheduled for completion in August.