Development

Milhaus Begins Development of $52M Apartment Community in Kansas City, Kansas

by Kristin Harlow August 11, 2021

KANSAS CITY, KAN. — Milhaus has begun development of a $52 million apartment community within the Homefield sports and entertainment district in Kansas City. Located at 9400 State Ave., the project will include 274 units and 508 parking spaces. Amenities will include a dog park, event space with conference rooms and coworking spaces, resident lounges, a pool and fitness center. Residents will have convenient access to nearby retail and commercial spaces within the overall Homefield development. Davidson Architecture + Engineering is serving as architect. A timeline for completion was not disclosed.

August 11, 2021

Development Indiana Midwest Retail

Echo Development, Synergy Development Acquire Land in Fort Wayne for New Retail Project

by Kristin Harlow August 11, 2021

FORT WAYNE, IND. — Echo Development Group Inc. and Synergy Development have acquired a little over eight acres of land at the northeast corner of DuPont and Diebold roads in Fort Wayne. The partnership plans to develop a project with restaurant, retail and healthcare uses that will include a Freddy’s Frozen Custard and Steakburgers. Jackson Investment Group represented Echo in the purchase of the land. Barry Sturges of Sturges Property Group represented the undisclosed seller. Engineering Resources Inc. is working on the civil infrastructure design for the project. A timeline for completion has not yet been established.

August 11, 2021

Development Office Texas

VanTrust Real Estate to Develop 12-Story Office Building in Metro Dallas

by Taylor Williams August 11, 2021

ADDISON, TEXAS — Kansas City-based VanTrust Real Estate LLC will develop Addison Station, a 12-story office building that will be located on the northern outskirts of Dallas. The transit-served building will span between 250,000 and 350,000 square feet and will feature an 8,000-square-foot rooftop amenity deck, an indoor/outdoor tenant lounge, fitness center and a conference center. Construction is scheduled to begin later this year. Colliers International is marketing the project for lease.

August 11, 2021

Roadrunner-Athletics-Center-of-Excellence-San-Antonio

Civic Development Texas

UTSA Opens $40.4M Roadrunner Athletics Center of Excellence

by Taylor Williams August 11, 2021

SAN ANTONIO — The University of Texas at San Antonio (UTSA) has opened the Roadrunner Athletics Center of Excellence, a $40.4 million facility that occupies more than 10 acres on the school’s main campus. The facility, named for the school mascot, features multiple practice fields, academic study spaces, a sports medicine center, strength and conditioning rooms, a lounge and office space for coaches and administrators. Kansas City-based Populous and locally based firm Marmon Mok Architecture led the design of the 95,000-square-foot facility. Joeris General Contractors and Project Control handled construction.

August 11, 2021

Development Industrial Utah Western

Pacific Industrial Breaks Ground on 824,000 SF Logistics Facility in Salt Lake City

by Madison Pettway August 10, 2021

SALT LAKE CITY — Pacific Industrial has broken ground on the Pacific Summit Logistics Center, an 824,000-square-foot industrial building in Salt Lake City. Pacific Industrial purchased the 48-acre property in an off-market transaction and began construction the day after the sale closed. The development will be located at 885 N. John Cannon Drive in the Northwest Quadrant, Salt Lake City’s most sought-after submarket, and adjacent to the Salt Lake City International Airport, with easy access to I-80, I-215 and I-15. The project is being built on a speculative basis. The project will be feature 131 dock-high doors in a cross-dock configuration, oversized truck courts that are up to 213 feet deep, and a minimum clear height of 40 feet. Construction is slated for completion in the second quarter of 2022. Pacific Industrial is a privately held real estate development and acquisition firm based in Southern California.

August 10, 2021

Development North Carolina Office Southeast

Legal Aid Redevelops 40,000 SF Office Building in East Charlotte

by Julia Sanders August 10, 2021

CHARLOTTE, N.C. — Legal Aid of North Carolina Inc., a nonprofit law firm, is redeveloping a 40,000-square-foot, single-story office building located at 5525 Albemarle Road in east Charlotte. MPV Properties represented Legal Aid on the purchase of the building and is marketing the remaining 23,000 square feet of vacant space for lease. The seller and sales price were not disclosed. In partnership with Lakemont Property Investors LLC, Legal Aid has recently completed demolition of the interior of the building. The firm expects to finish the full interior renovation in the next couple months and plans to occupy approximately 40 percent of the building once complete. A separate non-profit legal organization, Charlotte Center for Legal Advocacy, also has plans to renovate and occupy an adjacent two-story office building located at 5535 Albemarle Road. MPV Properties is a Charlotte-based commercial real estate firm that offers landlord and tenant representation. Legal Aid of North Carolina is a Raleigh-based law firm that provides free legal services in civil matters to low-income clients.

August 10, 2021

Acquisitions Development Multifamily NAI New Jersey Northeast

NAI James Hanson Brokers Sale of Four Commercial Buildings in Hackensack, New Jersey

by Taylor Williams August 10, 2021

HACKENSACK, N.J. — NAI James E. Hanson has brokered the sale of four adjacent commercial buildings that are located on the site of a future redevelopment project in Hackensack. The four buildings collectively total about 15,500 square feet. The buyer, Anderson Street Urban Renewal LLC, an affiliate of McGowan Builders, plans to raze the properties and develop a 224-unit multifamily development at the site that will include 4,000 square feet of ground-floor retail space. Anthony Cassano of NAI Hanson brokered the deal. The seller was not disclosed.

August 10, 2021

Acquisitions Development Industrial New Jersey Northeast

AMS Acquisitions Buys Multifamily Development Site in East Brunswick, New Jersey, for $5.1M

by Taylor Williams August 10, 2021

EAST BRUNSWICK, N.J. — New York-based investment firm AMS Acquisitions has purchased a seven-acre multifamily development site in East Brunswick, about 35 miles south of New York City, for $5.1 million. The company plans to construct a 96-unit complex that will consist of 24 affordable units and 72 market-rate units across four buildings. Amenities will include a clubhouse, fitness center, tenant lounge, dog run and a playground. A Cushman & Wakefield team led by Brian Whitmer, Ryan Dowd and Peter Welch represented the seller, a joint venture between the Hampshire Cos. and Diversified Realty Advisors, and procured AMS Acquisitions as the buyer.

August 10, 2021

Development Healthcare Michigan Midwest

NexCore, Beaumont Health Open Outpatient Campus Outside Detroit

by Kristin Harlow August 10, 2021

LENOX TOWNSHIP, MICH. — Healthcare real estate developer NexCore Group and Beaumont Health have opened a new outpatient campus in Macomb County’s Lenox Township, about 40 miles northeast of Detroit. Southfield-based Beaumont is the state’s largest health system. The building rises three stories and spans 109,630 square feet. The facility includes a digital directory, patient education center, lab, pharmacy, café and collaboration areas. NexCore entered into a long-term ground lease with Beaumont, which acquired the land. Dallas-based HKS Architects was the project architect and Sterling Heights, Mich.-based Roncelli served as general contractor.

August 10, 2021

Affordable Housing Development Midwest Multifamily Ohio

Fairfield Homes Begins Development of $15.5M Affordable Housing Project in Cincinnati

by Kristin Harlow August 10, 2021

CINCINNATI — Fairfield Homes Inc., in partnership with Kingsley + Co. and the Avondale Development Corp., has begun development of Blair Lofts, a $15.5 million affordable housing project in Cincinnati’s Avondale neighborhood. The four-story, 64-unit development will serve residents who earn 30 to 60 percent of the area median income. Located on the corner of Blair Avenue and Reading Road, the project will include a community room, community kitchen, fitness center, onsite storage and onsite parking. Completion is slated for summer 2022. The project received financing through the allocation of federal low-income housing tax credits by the Ohio Housing Finance Agency, with Ohio Capital Corp. for Housing serving as the equity syndicator. Fifth Third Bank is the construction lender. The development also received financial support from the City of Cincinnati, the Port of Greater Cincinnati Development Authority and Cincinnati Children’s Hospital Medical Center. Berardi + Partners is the project architect and Gorsuch Construction is the general contractor. Fairfield Homes will serve as property manager.

August 10, 2021

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