Development

Clayco Completes Construction of 125,000 SF Office Building in Metro St. Louis

by Kristin Harlow March 12, 2021

CREVE COEUR, MO. — Clayco has completed the construction of EDGE@WEST, a four-story, 125,000-square-foot office building in Creve Coeur within metro St. Louis. Seneca Commercial Real Estate was the developer for the Class A project. Designed by Lamar Johnson Collaborative, the development features enhanced mechanical systems that increase healthy air flow as well as touchless doors and self-cleaning antimicrobial surfaces. Floor-to-ceiling glass provides natural light. Amenities include a fitness center, coffee bar, fireplace area, outdoor lounges and collaboration space.

March 12, 2021

Development Hospitality Texas

White Lodging Opens 613-Room Marriott-Branded Hotel in Downtown Austin

by Taylor Williams March 12, 2021

AUSTIN, TEXAS — Indiana-based hospitality development and management firm White Lodging has opened the Austin Marriott Downtown, a 613-room hotel located at 304 E. Cesar Chavez St. in the state capital. In addition to the guestrooms, the 31-story building houses 25 suites, four food and beverage concepts and 60,000 square feet of meeting and event space. Additional amenities include a pool and a fitness center.

March 12, 2021

Mountain-West-Industrial-Park-Las-Vegas-NV

Development Industrial Nevada Western

Nigro Construction Begins First Phase of Mountain West Warehouse Project in Las Vegas

by Amy Works March 12, 2021

LAS VEGAS — Nigro Construction has started construction of Mountain West Industrial Park in southwest Las Vegas. The 252,900-square-foot warehouse project is located at 7210 W. Post Road. The first phase consists of three industrial shell buildings on 16.5 acres, with completion slated for third-quarter 2021. The first phase will offer units ranging from 6,400 square feet to 71,500 square feet with 30-foot minimum clearance heights in the warehouse areas, 10-foot glass storefront office entries and metal canopies. The second phase includes an additional 45,000 square feet of industrial space on the remaining acres of the property.

March 12, 2021

Build-to-Rent Development Finance Insight Leasing Activity Midwest Multifamily Northeast Single-Family Rental Southeast Texas Video Walker & Dunlop Western

Walker & Dunlop: SFR/BFR Rapidly Growing Option for Rental Spaces

by Sarah Daniels March 12, 2021

The strength of multifamily has been well solidified over the past few years, but a new contender in the rental market is making waves, according to Kris Mikkelsen, executive vice president, Walker & Dunlop Investment Sales. Single-family rental (SFR) and build-for-rent (BFR) spaces are growing increasingly popular. An SFR is a group of homes-for-rent pooled together for investment purposes BFR properties are purpose-built housing operated as SFR investments “SFR is in the distributed model: individual homes managed by tech-driven management platforms that were the formation of the single-family REITs you see in existence today. The build-for-rent space existed pre-COVID but has really been accelerated post-COVID as the end consumer looks to de-densify,” says Mikkelsen. Much of the demand has been driven to more suburban markets, with COVID-19 creating a sudden and palpable need for space among renters. Other factors — including declining home ownership rates and the high demand for multifamily options — have all contributed to the growth of this asset class and subsequent interest from larger institutional investors. Watch Mikkelsen’s interview to learn about demand for SFR/BFR space and changing renter demographics accelerating the growth of this asset class. This article is posted as part of REBusinessOnline’s Finance Insight series. Click here to …

March 12, 2021

Arizona Development Multifamily Western

P.B. Bell Opens $55M Grayson Place Multifamily Community in Goodyear, Arizona

by Amy Works March 11, 2021

GOODYEAR, ARIZ. — P.B. Bell, as owner and manager, has opened Grayson Place, an apartment property located at 1499 N. 159th Ave. in Goodyear. The $55 million development features 296 apartments in a mix of one-, two- and three-bedroom floor plans ranging from 726 square feet to 1,278 square feet. The community offers smart home technology, including smart door locks, thermostats and lights, controlled by the MyAPT app by Cox. Additionally, each unit features granite countertops, stainless steel appliances, subway tile backsplash, modern wood cabinets, full-sized washers/dryers, wood-style flooring, modern pendant lighting and private patios or balconies. Community amenities include a heated pool and spa; resident clubhouse with multiple lounge areas; outdoor entertainment spaces with grilling stations; a 24-hour fitness center; resident cinema room; business center; dog park; and pet spa. The controlled-access, gated community also offers valet trash, package lockers, 24-hour emergency maintenance, complimentary common area Wi-Fi and electric vehicle charging stations.

March 11, 2021

Development Industrial Texas

VanTrust Real Estate to Develop 621,874 SF Spec Industrial Building in Forney, Texas

by Taylor Williams March 11, 2021

FORNEY, TEXAS — Kansas City-based VanTrust Real Estate LLC will develop Forney Distribution Center, a 621,874-square-foot speculative industrial building in the eastern Dallas suburb of Forney. The property will be located at the intersection of U.S. Highway 80 and South Gateway Boulevard. Construction is scheduled to begin in April and to be complete in May 2022. CBRE is leasing the project.

March 11, 2021

Development Multifamily Texas

KBS, Southern Land Complete 309-Unit Apartment High-Rise in Dallas

by Taylor Williams March 11, 2021

DALLAS — A joint venture between California-based KBS and Nashville-based Southern Land Co. has completed Novē at Knox, a 309-unit apartment high-rise building in the Knox-Henderson area of Dallas. The location at 3031 Oliver St. puts the 19-story building adjacent to the Highland Park and Turtle Creek neighborhoods. The property offers a variety of different floor plans and amenities such as a pool deck with fitness terrace, community lounge, business center, recreation room, fitness center with yoga studio, concierge service, 465-space parking garage and valet parking. Southern Land designed the property and will also manage it.

March 11, 2021

Development Industrial South Carolina Southeast

Frampton Construction Completes 189,500 SF Building at Portside Distribution Center in Metro Charleston

by Julia Sanders March 11, 2021

SUMMERVILLE, S.C. — Frampton Construction Co. LLC has completed a 189,500-square-foot industrial building in Summerville. The Class A speculative facility, developed by Randolph Development, is the first of two heavy industrial buildings that will comprise Portside Distribution Center. Plans on the second building are currently underway, and Randolph expects to break ground later this spring. The new Portside Distribution Center building, located near Interstate 26, is meant for a variety of end users including logistics companies, aerospace and automotive suppliers, defense contractors, light manufacturers and last-mile distributors. With 32-foot clear heights, the facility features structural steel and load-bearing concrete tilt walls. The building is divisible to 28,944 square feet and features 33 dock doors and two drive-in doors. Thomas & Hutton provided site, civil and landscape design for the 31-acre development, while McMillan Pazdan Smith provided architectural design. Colliers International is handling the leasing of the property. Construction was completed in December 2020.

March 11, 2021

Development Retail Texas

Baker Katz Breaks Ground on 163,518 SF Retail Project in Brenham, Texas

by Taylor Williams March 11, 2021

BRENHAM, TEXAS — Houston-based development and leasing firm Baker Katz has broken ground on Brenham Crossing, a 163,518-square-foot retail project in Brenham, located about 75 miles northwest of Houston. Baker Katz is developing the property, which spans 50 acres at the intersection of U.S. Highway 290 and Chappell Hill Road, in partnership with the City of Brenham. Retailers including Hobby Lobby, Marshalls, Five Below, PetSmart and Burkes Outlet have already signed leases at the center, which is scheduled to open in 2022.

March 11, 2021

Development Healthcare Texas

McCarthy, Crowther Deliver 40,000 SF Healthcare Facility in Dallas

by Taylor Williams March 11, 2021

DALLAS — A joint venture between McCarthy Buildings Cos. and The Crowther Group has completed construction of the 40,000-square-foot Parkland Health & Hospital System’s Moody Center for Breast Health in Dallas. The outpatient clinic provides services such as surgical oncology, plastic surgery, imaging, infusion and physical therapy. The facility occupies the first floor of a 500,000-square-foot medical office building.

March 11, 2021

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