Development

Kraus-Anderson Begins Construction of $63M Maple River School in Southern Minnesota

by Kristin Harlow October 16, 2020

MAPLETON, MINN. — Kraus-Anderson has begun construction of a new $63 million K-12 school for the Maple River School District, located on the south side of Mapleton near County Highway 7 in southern Minnesota. Designed by ISG Architects, the two-story, 185,000-square-foot school will feature new classrooms, administration offices, three gymnasiums, playgrounds, a kitchen, café and 500-seat auditorium. The learning spaces will be organized via an elementary wing and a middle/high school wing. Outdoor spaces will include new parking lots, retention ponds, walking paths and playfields. Construction is slated for completion in fall 2022. Neither the name of the school nor the predicted number of students was released.

October 16, 2020

Development Illinois Midwest Office

J.C. Anderson Completes Office Buildout for Jordan Co. at Chicago’s One North Wacker

by Kristin Harlow October 16, 2020

CHICAGO — J.C. Anderson has completed an office buildout for The Jordan Co. at One North Wacker Drive in Chicago. The middle-market private equity firm is relocating from 1751 Lake Cook Road in Deerfield, Ill. The buildout on the 41st floor includes new private offices, open work areas, meeting rooms, a café, reception area, boardroom, pantry and copy room. IA Interior Architects provided architectural services and JLL represented property ownership. One North Wacker rises 51 stories and spans 1.4 million square feet in the Central Loop.

October 16, 2020

Development Industrial South Carolina Southeast

Magnus Development Starts Construction on 192,780 SF Industrial Building in Columbia, South Carolina

by Alex Tostado October 16, 2020

COLUMBIA, S.C. — Magnus Development has started construction on Midway Logistics VI, a 192,780-square-foot industrial building in Columbia. The spec warehouse is situated within Lexington County Industrial Park, near downtown Columbia and five miles from Interstate 20. The building will feature 32-foot clear heights, trailer parking, ESFR sprinklers and motion-sensor LED lighting. Magnus plans to complete the building in second-quarter 2021. Chuck Salley, Dave Mathews, Thomas Beard and John Peebles of Colliers International will handle the leasing and marketing efforts for the property. In March of this year, Magnus delivered Midway Logistics IV, a 200,000-square-foot building. Colliers arranged a 150,000-square-foot lease to TreeHouse Foods in September. Additionally, Magnus is developing Midway Logistics V, a 180,000-square-foot facility within the same business park.

October 16, 2020

Development Florida Industrial Self-Storage Southeast

Cedarwood Development Delivers 585-Unit Self-Storage Facility in Metro Tampa

by Alex Tostado October 16, 2020

CLEARWATER, FLA. — Cedarwood Development has delivered a 585-unit US Storage Centers-branded facility in Clearwater. The self-storage property is situated at 1000 S. Myrtle Ave., 23 miles west of downtown Tampa. Westport Properties Inc. is managing the asset, which features climate-controlled units, passenger elevators, moving carts and drive-up units. The facility comprises 60,000 square feet. This is the first facility in Clearwater for both Fairlawn, Ohio-based Cedarwood Development, which is an affiliate of Cedarwood Cos., and US Storage Centers. US Storage Centers has more than 10 million square feet in its nationwide portfolio.

October 16, 2020

Development Georgia Retail Southeast

InvenTrust Properties Begins Renovation of 105,000 SF Shopping Center in Metro Atlanta

by Alex Tostado October 16, 2020

NEWNAN, GA. — InvenTrust Properties Corp. has broken ground on the renovation of Thomas Crossroads, a 105,000-square-foot shopping center in Newnan. Kroger anchors the property, which will get a new façade, paint scheme, LED lighting under canopies, landscaping enhancements and sidewalk improvements. The Downers Grove, Ill.-based owner expects renovations to be completed by the end of November. Other tenants at the center include Great Clips, Subway, McDonald’s and multiple locally owned service and dining options. The asset was last renovated in 2008, shortly before InvenTrust acquired it in 2009. Thomas Crossroads is situated at 3150 Ga. Highway 154, 33 miles southwest of downtown Atlanta.

October 16, 2020

Development Massachusetts Mixed-Use Multifamily Northeast Office Top Stories

Millennium Partners Secures $775M Construction Financing for Mixed-Use Tower in Downtown Boston

by Katie Sloan October 16, 2020

BOSTON — Millennium Partners Boston, a local arm of developer Millennium Partners, has secured $775 million in construction financing from Cale Street Investments for Winthrop Center, a $1.3 billion mixed-use development located in downtown Boston. Upon completion, the project is expected to feature 812,000 square feet of Class A office space; 572,000 square feet of residential space including 321 luxury residential units; and a 24,000-square-foot common area featuring a fitness center, game room, coffee bar, cafe and lounge space. “Securing the construction loan from Cale Street Investments — an unprecedented investment given the global pandemic — assures that Winthrop Center will remain on schedule for completion in 2022,” says Christopher Jeffries, founder of Millennium Partners. “From its inception, human-centric design, sustainability and flexible workspaces have formed the foundation of Winthrop Center. With innovation a core part of Boston’s DNA, the city is the perfect home for this building.” The project was designed by Handel Architects to provide ample access to natural light and elevated indoor air quality in response to the COVID-19 pandemic. The development will seek LEED Gold certification for its residential units and LEED Platinum certification for its office space upon completion, which is slated for 2022. Founded …

October 16, 2020

Development Multifamily North Carolina Seniors Housing Southeast

LCS Development Begins Construction of $75M Seniors Housing Expansion in Greensboro, North Carolina

by Alex Tostado October 15, 2020

GREENSBORO, N.C. — LCS Development, an LCS company, has started construction of a $75 million expansion at WhiteStone, a seniors housing community in Greensboro. The project includes the addition of 67 independent living units, a building with 36 private suites for assisted living and memory care residents and an extensive renovation of the existing skilled nursing facility. The 100-year-old community is located on a 43-acre campus. Life Care Services, also an LCS company, operates the complex. Todd Shaw, director of development services at LCS Development, will serve as project manager for the expansion. Cain Brothers, a division of KeyBanc Capital Markets, underwrote the bond financing for the project. The project team includes SFCS Architects, Frank L. Blum Construction Co. as general contractor and Stimmel Associates as civil engineer and land planner. A timeline for completion was not disclosed.

October 15, 2020

Development Georgia Industrial Southeast

Dermody Properties to Develop 154,440 SF Industrial Property in Metro Atlanta

by Alex Tostado October 15, 2020

DECATUR, GA. — Dermody Properties will develop LogistiCenter at Miller Road, a 154,440-square-foot industrial property in Decatur. Dermody expects to break ground by the end of this year and to deliver the asset in the third quarter of 2021. The facility will be divisible by 77,220 square feet and will offer build-to-suit office space, 35 dock-high doors, 32-foot clear heights, 145 car parking spaces, 23 trailer spaces and ESFR sprinklers. Dermody recently closed on the 11-acre plot, which is situated at 2800 Miller Road, 14 miles east of downtown Atlanta and one mile from Interstate 20. Austin Brannen and Matt Bentley of NAI Brannen Goddard will be the leasing brokers for the project. Jacob & Hefner Associates is engineering the site plans, and Ware Malcomb is the architect for the shell design.

October 15, 2020

Development Retail Texas

Lionstone to Renovate 1.4 MSF Mixed-Use Destination in Metro Houston

by Taylor Williams October 15, 2020

SUGAR LAND, TEXAS — A development team led by Houston-based Lionstone Investments will renovate Sugar Land Town Square, a 1.4 million-square-foot mixed-use destination located on the southwestern outskirts of Houston. Lionstone is partnering with Dallas-based creative real estate firm Rebees and Planned Community Developers on the project, which will upgrade landscaping and outdoor common areas to allow for social distancing and more public seating as part of Phase I. In addition, the team will add new signage and tenant storefronts and revamp the tenant roster to include local entrepreneurs with original shopping and dining concepts. Completion of the first phase of the project is scheduled for mid-2021.

October 15, 2020

Development Multifamily Texas

HPI Residential Completes 262-Unit Rhythm Apartments in Austin’s Tech Row Area

by Taylor Williams October 15, 2020

AUSTIN, TEXAS — Developer HPI Residential has completed Rhythm Apartments, a 262-unit multifamily community in Austin’s Tech Row area. Designed by Britt Design Group and Charlan Brock Associates, the community features studio, one- and two-bedroom units. Amenities include a club lounge with a kitchenette, coffee bar, TV and socially distant workstations, as well as a separate business center with built-in desks and a conference room. Rhythm also offers a game room, pool, fitness center, pet park and bike storage area. Rents start at $1,000 per month for a studio apartment.

October 15, 2020

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