NAPLES, FLA. — Halvorsen Holdings has broken ground on Fiddler’s Creek Plaza, a 60,000-square-foot, Publix-anchored shopping center in Naples. The 48,000-square-foot Publix is one of the company’s newest prototype models, featuring a drive-thru pharmacy and an updated layout with a mezzanine level. There is 12,000 square feet of shop space available as well, including a 2,925-square-foot end-cap restaurant space with an outdoor patio. Three outparcels are available for sale or ground lease. The property is located at the intersection of U.S. Highway 41 and Sandpiper Drive, 12 miles southeast of downtown Naples. Boca Raton, Fla.-based Halvorsen Holdings expects to complete Fiddler’s Creek Plaza in summer 2021.
BURLINGTON, N.J. — A partnership between an affiliate of Endurance Real Estate Group and Boston-based Cabot Properties has broken ground on a 289,042-square-foot speculative industrial project in Burlington, about 20 miles northwest of Philadelphia. The 56.6-acre site at 2609 Rancocas Road will house two warehouses that are expected to be complete in the fourth quarter of 2021. Building I will feature 217,986 square feet, 36-foot clear heights, 180 car parking spaces and 28 trailer parking spaces. Building II will total 71,056 square feet and will offer 32-foot clear heights and 69 car parking spaces. John Plower, Nate Demetsky and Ryan Cottone represented the development team in the acquisition of the land. Newmark represented the seller of the land.
POMONA, CALIF. — Newport Beach, Calif.-based CapRock Partners has purchased an infill industrial property situated on 12.5 acres at 4200 W. Valley Blvd. in Pomona. Terms of the transaction were not released. The buyer acquired the asset as a sale-leaseback from an owner-tenant that will continue to occupy the existing 230,000-square-foot manufacturing building in the short term. Upon expiration of the lease, CapRock intends to demolish the existing facility and develop a 270,000-square-foot, 36-foot-clear-height building offering up to 10,000 square feet of speculative office space. The property’s location is within minutes of the California State Route 57 and Interstate 605 interchange, Interstate 10 and California State Route 71. Wes Hunnicutt, Matt Moore and Eric Tomchick of Newmark represented the buyer and undisclosed seller in the transaction. Additionally, the Newmark team will serve as leasing agents for the property. Greg Brown, Peter Thompson and San Godfrey of JLL Capital Markets Debt Placement arranged an undisclosed amount of financing on behalf of CapRock Partners.
POMPANO BEACH, FLA. — Moss Construction will expand John Knox Village, a seniors housing community in Pompano Beach, by 150 units and 508,513 square feet of retail, outdoor and event space. The two-phase expansion is expected to cost $120 million to execute. Construction on the first phase has started. The 37,117-square-foot project will consist of a first-level pavilion featuring a performing arts center, pre- and post-event gallery space, two restaurants with indoor and lakeside dining, a bar in between the two restaurants, a lakefront promenade and gathering spaces. A timeline for completion was not disclosed. The second phase is scheduled to start in the first quarter 2022. The 471,396-square-foot project will include two podium-style towers with 150 independent living residences, a 153-space parking garage, three restaurants and other common areas. The expansion will also involve infrastructure improvements and revisions to lakes and roadways in the vicinity.
BIRMINGHAM, ALA. — Elmwood Park, N.J.-based Aptitude Development has broken ground on The Marshall Birmingham, a 409-bed student housing community located near the University of Alabama at Birmingham (UAB). The 200,000-square-foot, seven-story building will feature shared amenities including a fitness center, resident lounges, breakout areas, open-air social space, courtyards and a pool. Construction is expected to be completed in summer 2022. The design team comprises Stone Construction, BSB Design and CHA Engineering.
SOUTH ELGIN, ILL. — Synergy Construction Group has completed Panton Mill Station, a 100-unit luxury apartment development in South Elgin, about 40 miles west of Chicago. The four-story building is located on the banks of the Fox River and includes 10,000 square feet of retail space and a 180-stall surface parking lot. Amenities include a fitness center, business center and outdoor kitchens. Ware Malcomb provided architecture and interior design services for the project. Residents can now receive one month of free rent. Monthly rents start around $1,410.
SAN DIEGO — The San Diego City Council has unanimously approved an exclusive negotiating agreement with the Padres Development Team to negotiate terms for the previously announced acquisition and redevelopment of Tailgate Park into East Village Quarter. The site is located outside Petco Park, which Major League Baseball’s San Diego Padres call home. The Padres Development Team, including the San Diego Padres, Tishman Speyer and Ascendant Capital Partners, was selected during a public request for proposals process. The development team’s vision for East Village Quarter includes residential space, 50,000 square feet of neighborhood-serving retail, 236,000 square feet of public spaces, 1.4 million square feet of office space targeted to technology and biotechnology companies, and 1,600 parking spaces. According to media reports, the development will cost $1.4 billion. “We are excited to take another step forward to revitalize Tailgate Park and further transform the Ballpark District and downtown San Diego,” says Erik Greupner, president of business operations for the San Diego Padres. “We look forward to finalizing a deal with the City of San Diego that will result in the creation of a vibrant, inclusive, mixed-use district in East Village.”
DALLAS — Locally based developer Hunt Realty Investments has unveiled plans for a 3.7 million-square-foot mixed-use development in Uptown Dallas, according to reports from multiple news outlets including the Dallas Business Journal and constructionreviewonline.com. According to the latter outlet, the project will be developed on an 11-acre tract between North Field and North Houston streets that currently houses Hunt Realty’s Northend Apartments. The project will include commercial and residential uses, as well as a 1.5-acre park and an urban arboretum. A construction timeline is still being finalized, according to the media outlets.
HOUSTON — Houston-based developer Radom Capital has topped out Montrose Collective, a 197,000-square-foot retail and office development in Houston’s Montrose District. According to the Houston Business Journal, the four-story project is valued at $105 million. JP Morgan Asset Management is serving as a joint venture equity partner on the project, which also includes 40,000 square feet of green space and 600 parking spaces. Construction began in early 2020.
MAYFIELD HEIGHTS, OHIO — Anthology Senior Living, a new organization created by real estate development firm CA Ventures, has opened Anthology of Mayfield Heights in suburban Cleveland. The property is home to 180 independent living, assisted living and memory care residences. The community serves as the company’s first “Life Plan Community,” a new design strategy for seniors housing created in collaboration with national design firm HED. This type of community consists of a main building and a small arrangement of cottages. Courtyards enable residents to participate in outdoor activities such as swimming, pickleball, gardening, lounging and meditating. Indoors, residents have access to multiple dining options such as a bistro, pub, private dining and large dining room. Other amenities include a business center, clubhouse, fitness center, golf simulator, library, pottery room and theater.