Development

GBT Realty, Cana to Open Food Hall at Ellsworth Place in Silver Spring, Maryland

by John Nelson October 22, 2021

SILVER SPRING, MD. — Brentwood, Tenn.-based GBT Realty Corp., in partnership with Baltimore-based Cana Development, plan to open Commas, a food hall within the 350,000-square-foot Ellsworth Place shopping center in downtown Silver Spring. Opening in spring 2022 on the second level of Ellsworth Place, Commas will take up 13,000 square feet of space and include a collection of 12 food and beverage merchants. Commas expects to create a diverse menu of food from Ethiopia to Korea, Malaysia to El Salvador and Italy to New Jersey. Designed by Washington, D.C.-based architecture and interior design firm GrizForm Design Architects, Commas will offer a range of seating options and special event capabilities. In addition to the permanent restaurant spaces, the food hall will also feature a central bar experience. Design plans also include seven communal seating areas, open kitchen installations with window peeks and chef counters and a light-toned color palette with natural wood furniture.

October 22, 2021

Development Leasing Activity Louisiana Retail Southeast

Stirling Signs Target to Anchor Premier Centre in Mandeville, Louisiana

by John Nelson October 22, 2021

MANDEVILLE, LA. — Stirling Properties has signed Target to join the tenant lineup at Premier Centre, a 273,000-square-foot shopping center located on U.S. Highway 190 in Mandeville. Target will occupy roughly 58,000 square feet of retail space, backfilling the former Stein Mart store, as well as the adjacent space currently housing Rack Room Shoes and an additional 13,000 square feet of new building expansion area in the rear of the building. Rack Room Shoes will expand and relocate next to Whole Foods Market in the former Forever 21 Red space. Rack Room Shoes is expected to reopen in its expanded space this fall. Premier Centre is located at the corner of U.S. Hwy. 190 and North Causeway Boulevard on the Northshore of Lake Pontchartrain in St. Tammany Parish. The center was 97 percent leased at the time of sale to tenants such as Bed Bath & Beyond, T.J.Maxx, Barnes & Noble, Old Navy, Gap, American Eagle Outfitters, Banana Republic, LOFT, Bath & Body Works, Trek Bikes, Earthsavers, Blu Spero, Buckle, J.Jill, Jose Bali Jewelry, Chili’s, La Madeleine and The Big Squeezy. Electric car charging stations are also available in the parking lot near Whole Foods. Stirling Properties developed Premier Centre …

October 22, 2021

Development Industrial North Carolina Southeast

WDG to Develop 630,000 SF Industrial Park in Statesville, North Carolina

by Julia Sanders October 21, 2021

STATESVILLE, N.C. — Williams Development Group (WDG) plans to break ground on Statesville Commerce Center, a 630,000-square-foot speculative industrial park in Statesville. Grant Miller, Rob Speir and Justin Smith of Colliers | Charlotte have been hired by WDG to lease and market the property. Statesville Commerce Center will offer access to Interstates 77, 40 and 85 and will feature two Class A buildings with Building 1 set to include 370,136 square feet, 36-foot clear heights, 72 dock-high doors and 145 trailer spaces. Building 2 will include 263,701 square feet, 32-foot clear heights, 33 dock-high doors and 73 trailer spaces. Both buildings will feature an ESFR fire suppression system and LED lighting. Building 1 and 2 are slated for completion by 2023. WDG and Colliers | Charlotte are collaborating on this project with Merriman-Schmitt Architects Inc., Oak Engineering and Landmark Builders. Statesville Commerce Center is WDG’s fifth development in North Carolina following projects in Greensboro, Whitsett, Winston-Salem and High Point.

October 21, 2021

Development Florida Industrial Southeast

Foundry, Modlo Break Ground on 495,000 SF Modlo Air Logistics Center in Metro Miami

by Julia Sanders October 21, 2021

DORAL, FLA. — Foundry Commercial, in partnership with Modlo, the logistics platform of GLP Capital Partners, has broken ground on the Modlo Air Logistics Center, a three-warehouse property near Miami spanning over 495,000 square feet. The 23.7-acre site located at 7777 NW 41st St. in Doral once housed a PepsiCo bottling facility. The three structures include Building 1 with 171,254 square feet, Building 2 with 173,716 square feet and Building 3 with 150,103 square feet. The new warehouses will feature insulated glass, R-20 roofs, LED lighting, 36-foot clear heights, 54-foot column spacing and electric car charging stations. The project is slated for completion by the summer of 2022. The site is located within two miles of Miami International Airport’s cargo entrance and is also near major expressways and PortMiami. In addition to Foundry Commercial, which is serving as the fee developer for the build, project collaborators include Miller Construction, Puga & Associates International, DDA Engineers and Kimley-Horn.

October 21, 2021

Development District of Columbia Retail Southeast

Wegmans to Open 84,000 SF Store in Northwest D.C.

by Julia Sanders October 21, 2021

WASHINGTON, D.C. — Wegmans Food Markets is opening its first store in Northwest Washington, D.C. at City Ridge. Located at the intersection of Wisconsin Avenue and Rodman Street, the Wegmans Wisconsin Ave. store will be part of the historic building formerly occupied by Fannie Mae’s headquarters. Roadside Development and North America Sekisui House LLC are the developers of the City Ridge development. Wegmans Wisconsin Ave. is part of the $640 million City Ridge development, which includes commercial, residential and retail facilities. The 84,000-square-foot Wegmans supermarket will include a Market Café, coffee shop and the casual restaurant called The Burger Bar. The store site will include parking below and residential units above. The new store is slated to open in the summer of 2022. Wegmans plans to employ approximately 450 people at the City Ridge location, including 150 full-time positions. Wegmans now operates 106 stores in seven states and has more than 50,000 employees chainwide. The company is set to open three Mid-Atlantic locations in 2022: in Alexandria, Va.; Washington, D.C.; and Wilmington, Del.

October 21, 2021

Colorado Development Loans Office Western

Parkview Financial Provides $8.7M Construction Loan for Five-Story Office Building in Denver

by Amy Works October 21, 2021

DENVER — Parkview Financial has provided an $8.7 million construction loan to 2926 Umatilla LLC, an entity of Generation Development, for the development of a speculative office building in Denver. Located at 2926 Umatilla St. within the LoHi submarket, the planned five-story property is situated on an infill lot formerly used for parking. The 32,734-square-foot building will feature underground parking for 30 cars via a stacked mechanical parking system. Generation Development acquired the site in late 2018 and construction on the project will begin soon. Completion is slated for fourth-quarter 2022. George Smith Partners arranged the loan. Denver-based BOSS Architects is serving as project architect.

October 21, 2021

Development Multifamily New Jersey Northeast

CHA Partners Breaks Ground on 210-Unit Royal at Bloomfield Station Apartments in New Jersey

by Taylor Williams October 21, 2021

BLOOMFIELD, N.J. — Locally based developer CHA Partners has broken ground on The Royal at Bloomfield Station, a 210-unit multifamily project in Northern New Jersey. The development will also include 14 townhome units for purchase, as well as 7,000 square feet of retail/restaurant space and a 304-space parking garage. The amenity package will consist of a fitness center, business center, rooftop entertainment area, several multi-purpose event rooms and lounges, pet spa and an automated package handling system. The first units are expected to be available for occupancy in mid-2023.

October 21, 2021

Development Illinois Midwest Multifamily

Greystar Breaks Ground on its First High-Rise Apartment Tower in Downtown Chicago

by Kristin Harlow October 21, 2021

CHICAGO — Greystar has broken ground on its first high-rise apartment development in downtown Chicago. Located at 166 N. Aberdeen St., the 20-story building will include 223 units, 23 of which will be designated as affordable housing. Plans call for a third-floor amenity level with a 5,650-square-foot outdoor deck that will include a pool, lawn and lounge areas as well as access to the coworking and fitness area. An outdoor lounge on the 14th floor will offer views of the Chicago skyline. Completion is slated for March 2023. SCB is the project architect. Associated Bank arranged a $59.7 million loan for the project through ServisFirst Bank and Old Second National Bank.

October 21, 2021

Development Midwest Multifamily Wisconsin

M&R Development Opens 270-Unit Luxury Apartment Complex in Madison, Wisconsin

by Kristin Harlow October 21, 2021

MADISON, WIS. — M&R Development has opened Elevate, a 270-unit luxury apartment complex located at 5022 American Parkway in Madison. Elevate marks M&R’s second apartment project to open in Wisconsin this year, following the completion of 42 Hundred On The Lake in St. Francis this summer. Units at the four-story Elevate measure 590 to 1,254 square feet. Monthly rents range from $1,205 to $3,199. The centerpiece of the community is a two-story clubhouse, complete with an outdoor pool, grilling stations, fire pit and lounge seating. Inside, the clubhouse includes an entertainment kitchen, coffee bar, fitness center, yoga room, business center, pet washing station and package room. The project team included Stevens Construction and Poole & Poole Architecture. M&R co-developed Elevate with Campbell Capital Group LLC. RMK Management is overseeing leasing and property management.

October 21, 2021

Acquisitions Development Multifamily North Carolina Southeast

JLL Brokers $5M Land Sale for Multifamily Project in Cary, North Carolina

by Julia Sanders October 20, 2021

CARY, N.C. — JLL Capital Markets has brokered the $5 million sale for a 5.8-acre infill land parcel in Cary that is zoned for multifamily. SunCap Property Group acquired the land with plans to develop a 230-unit apartment community called Ashby at Twin Lakes at the site. The property will include one-, two- and three-bedroom residences, as well as a courtyard and pool, gas grills, indoor and outdoor fitness center, workout stations, dog park and spa, bike storage and secured parking. Situated along Davis Drive, the site is located within the Twin Lakes Planned Development District, which also includes a new 100,000-square-foot Wegmans-anchored retail center. David Lee of SunCap’s multifamily division worked closely with the Town of Cary to plan the community. Sarah Godwin of JLL marketed the land on behalf of the seller, an entity doing business as Leyland Twin Lakes LLC.

October 20, 2021

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