Development

Remiger Design Opens New 6,100 SF Office in Downtown St. Louis

by Kristin Harlow October 5, 2021

ST. LOUIS — Remiger Design has opened a new 6,100-square-foot office at 2921 Olive St. in downtown St. Louis. The historic storefront was originally built in 1894. It took a year to outfit the office with the right furniture, lighting and technology and to build out the three-level space. A fourth level now houses the design firm’s extensive files. The office features a conference room, resource library and private room. The third floor houses employee workstations that are carefully spaced to allow for social distancing. Remiger’s team of 12 is able to work from home or in the office.

October 5, 2021

Development Leasing Activity Mixed-Use Nevada Office Top Stories Western

DraftKings to Anchor $400M UnCommons Mixed-Use Project in Las Vegas

by John Nelson October 5, 2021

LAS VEGAS — DraftKings Inc., a fantasy and digital sports betting company based in Boston, plans to open its second largest office hub within UnCommons, a $400 million mixed-use development underway in southwest Las Vegas. DraftKings will occupy 90,000 square feet and ultimately house more than 1,000 employees at the new offices. Matter Real Estate Group, a San Diego-based developer, broke ground on the 40-acre project last summer and plans to deliver the first phase of the campus in early 2022. “Our goal is to create another world-class workplace environment that will foster DraftKings’ innovation, further bolster our local presence and deepen community involvement,” says Matt Kalish, co-founder and president of the North America division of DraftKings (NASDAQ: DKNG). “With these lofty aspirations, we were thrilled to discover that UnCommons mirrors these high standards.” Designed by IA Interior Architects, DraftKings’ new space will mirror its Boston headquarters with 130 sports trading desks surrounded by multimedia walls. The property will also include collaborative work spaces, a cafeteria, putting green, custom casino training pit, private and public outdoor spaces, mothers’ rooms, prayer suites and salons for haircuts and manicures/pedicures. UnCommons will comprise more than 500,000 square feet of modern office space; more …

October 5, 2021

Affordable Housing Development District of Columbia Multifamily Southeast

Enterprise Community Development Reopens $51M Affordable Housing Community in D.C.

by Julia Sanders October 4, 2021

WASHINGTON, D.C. — Enterprise Community Development (ECD) has reopened Randle Hill Apartments, a $51 million affordable housing property in Washington, D.C.’s Congress Heights neighborhood that was recently renovated. The property includes 195 apartments, including 20 set aside for formerly homeless individuals and families. Located at 3300 6th St. SE, Randle Hill is a nine-building complex with one-, two- and three-bedroom units. The renovations on the property include updated kitchens and bathrooms, new HVAC units, enhanced light fixtures and energy-efficient features. In addition, the property includes onsite resident services such as workforce development, case management, educational and financial literacy programs. ECD made sure no residents of Randle Hill were displaced during renovations. District of Columbia Housing Finance Agency provided $25 million in bonds of construction financing and Bank of America provided a $26.5 million loan. Additional financing included $17.3 million from DCHFA’s HUD Risk Share program, $13 million from District’s Housing Production Trust Fund program, a $650,000 predevelopment loan from Neighborworks Capital and $15.3 million in low-income housing tax credit equity from Enterprise Housing Credit Investments LLC to support the development on behalf of Bank of America. Community Housing Capital provided an initial acquisition loan of nearly $17.8 million. Associates Architects …

October 4, 2021

Development Maryland Office Southeast

Cushman & Wakefield Announces $10M Redevelopment Project for Office Property in Bethesda

by Julia Sanders October 4, 2021

BETHESDA, MD. — Cushman & Wakefield has announced an over $10 million capital improvement program for 4800 Hampden Lane, a Class A, 185,000-square-foot office building located in Bethesda. New York-based Anne and Bernard Spitzer Charitable Trust owns the office property. 4800 Hampden Lane is a 12-story building that features terraces exclusive to tenants, six elevators, 24/7 security, onsite garage parking and onsite property management. The property is located close to the Capital Crescent Trail, an off-road trail that runs from Georgetown in Washington, D.C. to Bethesda. The property is currently 95 percent leased to tenants including Boston Consulting Group, Paley Rothman, Salamandra, EYA and Declaration Partners. The redevelopment of 4800 Hampden Lane will include the addition of a new conference center; new fitness center, including private/dedicated workout kiosks and separate locker rooms with towel service; a new bike storage facility; upgraded lobby and enhancements to the façade. Renovations at the property will begin within the next two months and are slated to be complete by fall 2022. Michael Katcher and Katie Datin of Cushman & Wakefield are the exclusive leasing brokers for the property.

October 4, 2021

Development Florida Retail Southeast

Frontier Cos. Breaks Ground on New Retail Development in Fort Pierce, Florida

by Julia Sanders October 4, 2021

FORT PIERCE, FLA. — Miami-based Frontier Cos. has broken ground on a new retail development located in Fort Pierce. Located 5000 Okeechobee Road, the 10,750-square-foot retail center will include a 3,750-square-foot Aspen Dental, a 3,500-square-foot CareNow urgent care clinic and another 3,500-square-foot space for a future tenant. The plaza is being built on a 1.6-acre lot and will include 87 parking spaces. A Cowboys BBQ & Steak restaurant previously occupied the development site.

October 4, 2021

Acquisitions Arizona Development Industrial Western

SWC Development Buys 27.9-Acre Land Parcel for Eight-Building Industrial Project in Surprise, Arizona

by Amy Works October 4, 2021

SURPRISE, ARIZ. — South Dakota-based SWC Development Partners has purchased a 27.9-acre land site in Surprise for $7.1 million. The buyer plans to develop a multi-phased industrial project with warehouse/distribution, manufacturing and flex facilities on the site. Kevin Helland of Avison Young represented the buyer in the acquisition. Helland and Mark Seale, also of Avison Young, will represent the ownership on the leasing and sale of the project. SWC Development Partners plans to build eight buildings, ranging from 25,000 square feet to 139,278 square feet. Located at 11860 N. Dysart Road, the first building is already fully permitted and will be a 59,352-square-foot warehouse/distribution facility. Construction is slated to begin in October with completion scheduled for fourth-quarter 2022. The second building will total 139,278 square feet and construction is scheduled to begin in second-quarter 2022 with completion estimated for first-quarter 2023. The construction schedule for the remaining six buildings is to be determined based on market demand. The sold parcel marks the final phase of Skyway Commons, an industrial park that currently has four completed industrial buildings totaling 173,878 square feet that another developer built.

October 4, 2021

Natomas-Advanced-Logistics-Center-Sacramento-CA

California Development Industrial Western

PCCP, Panattoni to Develop 185,973 SF Industrial Project in Sacramento

by Amy Works October 4, 2021

SACRAMENTO, CALIF. — A joint venture between PCCP and Panattoni Development Co. has unveiled plans to develop Natomas Advanced Logistics Center, a two-building, 185,973-square-foot industrial property located at Duckhorn Drive and Arena Boulevard in Sacramento. The 122,401-square-foot Building A will feature 32-foot clear heights and the 63,572-square-foot Building B will feature 28-foot clear heights. The property is designed for flexibility and is available to accommodate distribution, logistics, light industrial and manufacturing uses for two to seven tenants. The center will include three separate points of access along Duckhorn Road, a semi-truck access aisle that will be gated and separate from employee vehicle parking, ample vehicle parking and a shared truck court totaling 300 feet.

October 4, 2021

Development Hospitality Michigan Midwest

Oxford Capital, Hunter Pasteur Break Ground on 227-Room Hotel in Detroit’s Corktown Neighborhood

by Kristin Harlow October 4, 2021

DETROIT — Oxford Capital Group and Hunter Pasteur have broken ground on The Godfrey Hotel Detroit in the city’s Corktown neighborhood. The 227-room hotel will be situated at 1401 Michigan Ave., between Trumbull and Eighth streets. Completion is slated for 2023. Oxford’s wholly owned management affiliate, Oxford Hotels & Resorts LLC, will manage the property. The seven-story hotel will be home to I|O, an indoor/outdoor rooftop lounge with expansive views of downtown Detroit. The property will also feature a ground-floor restaurant, lobby bar, 5,500-square-foot ballroom and fitness center. The hotel will be affiliated with Hilton’s Curio Collection. Elkus Manfredi Architects is the project architect, and The Gettys Group is designing the interiors. Currently, there are Godfrey hotels in Chicago, Boston, Tampa and Hollywood. Project investors include several prominent Detroit families led by Nate Forbes and James Grosfeld. Founded in 1999, Hunter Pasteur has built and developed more than 1,500 single-family and multifamily projects in Southeast Michigan. Jordan Ray, Steve Buchwald and Jamie Matheny of Mission Capital Debt & Equity, part of Marcus & Millichap Capital Corp., arranged $64 million in financing for the development.

October 4, 2021

Development Multifamily Seniors Housing Texas

Cadence McShane Begins Renovation of Historic Seniors Housing Property in San Antonio

by Taylor Williams October 4, 2021

SAN ANTONIO — Cadence McShane Construction Co. has started renovations on the 12-story Granada Homes Senior Living Apartments, an age-restricted, low-income seniors housing property located in San Antonio’s RiverWalk area. The project will involve a complete revitalization of the 249-unit building, which was originally constructed in 1928. Renovations will include a restoration of levels one and 15 per historic guidelines to include updated unit amenities such as countertops and appliances, as well as the addition of 16 new apartment units, and community leasing and amenity space. Exterior improvements will also be made to the ground floor to restore historic features. CREO Architects is the project architect. Merchants Capital and the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) are providing financing for the project. Completion of the renovations is slated for late 2022.

October 4, 2021

Development District of Columbia Office Southeast Top Stories

Skanska Invests $216M for Development of Office Project in Downtown Washington, D.C.

by Kristin Harlow October 4, 2021

WASHINGTON, D.C. — Swedish developer Skanska is investing $216 million in U.S. dollars for the development of 17xM, an 11-story office project in the central business district of Washington, D.C. Located at the intersection of 17th and M streets, the building will span 334,000 square feet. Construction is scheduled to begin this fall with completion slated for 2024. More than 50 percent of the project is pre-leased. Global law firm Gibson, Dunn & Crutcher LLP has signed a 16-year lease at the property. Skanska is pursuing LEED Gold and Fitwel certifications for the building. Currently, 17xM is the first WiredScore SmartScore-certified office building in North America, according to the developer. The certification assesses a smart building for both its user functionality and technological foundation. Plans call for MERV-13 air filtration, air quality censors, touchless access and other sustainable and wellness-focused features. MERV refers to minimum efficiency reporting value, which measures how effectively a filter stops dust and other contaminants from passing through the filter and into the air. Amenities will include a covered drop-off area, lobby attendant, rooftop conference area, rooftop lounge, 5,500-square-foot fitness center, bicycle room and outdoor terraces. Kohn Pedersen Fox Associates is the project architect. CBRE is …

October 4, 2021

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