Development

Sprouts Farmers Market to Anchor 75,000 SF Sonoran Creek Marketplace Near Phoenix

by Amy Works September 21, 2020

MARICOPA, ARIZ. — Thompson Thrift Retail Group, a wholly owned company of Indianapolis-based Thompson Thrift, has inked a deal for Sprouts Farmers Market to anchor Sonoran Creek Marketplace, the company’s $30 million retail center under development in Maricopa. The Phoenix-based specialty grocery chain is expected to open its 23,293-square-foot location in September 2021. Situated on 14 acres at the intersection of John Wayne Parkway and Edison Road, Sonoran Creek Marketplace will feature 75,000 square feet of retail and restaurant space. Additional recently signed tenants include The Joint Chiropractic, State Farm Insurance, Jimmy John’s Gourmet Sandwiches and Filiberto’s Mexican Food. Also included in the development are Dutch Bros, Culver’s and Fast & Friendly Express Carwash, all of which are currently open for business. This is Thompson Thrift Retail Group’s first project in Maricopa, and the company’s 2021 Southwest pipeline is projected to include more than $120 million in volume across metro Phoenix.

September 21, 2020

Data Centers Development Georgia Industrial Southeast

Facebook to Invest Additional $250M for Data Center Expansion in Covington, Georgia

by Alex Tostado September 18, 2020

COVINGTON, GA. — Facebook will invest an additional $250 million at its data center campus in Covington, bringing the social media giant’s total investment at the site to $1 billion. The Menlo Park, Calif.-based company will add three buildings and 1.5 million square feet to the property, which was first announced in 2018. Upon completion, the property will total five buildings spanning nearly 2.5 million square feet. Facebook expects to house 200 employees at the site, which is situated about 30 miles east of downtown Atlanta. A timeline for construction was not disclosed, but multiple media outlets report Facebook expects to complete the expansion in 2023. The design team was not disclosed.

September 18, 2020

Development District of Columbia Healthcare Office Southeast

Diversified Healthcare Trust Completes $26M Renovation of Medical Office Building in D.C.

by Alex Tostado September 18, 2020

WASHINGTON, D.C. — Diversified Healthcare Trust has completed a $26 million renovation of 1145 19th St. NW in Washington, D.C., a 133,000-square-foot medical office building. The renovations include a new glass façade, lobby lounge, fitness center, business center and an upgraded HVAC system. The property is situated less than one mile from downtown D.C. The RMR Group managed the renovations, Davis Construction was the general contractor and SmithGroup Architecture was the designer. Nick Zuppas and Andrew Papantoniou of Zuppas Medical Realty are leading the leasing efforts for the building.

September 18, 2020

Development Industrial Louisiana Self-Storage Southeast

Safeguard Self Storage Expands Facility in New Orleans by 544 Units

by Alex Tostado September 18, 2020

NEW ORLEANS — Safeguard Self Storage has completed the expansion of its facility located at 919 Erato St. in New Orleans’ Lower Garden District. The company added 544 units spanning 44,346 square feet to its existing 459-unit, 33,311-square-foot facility. The asset utilizes the Noke Smart Entry System, which allows customers to access the building, storage area and individual units with a smartphone app. The building also features a “green roof,” which sustains living vegetation. Brian Rinaldi of Safegaurd is the manager. This is the sixth property in New Orleans for the locally based operator.

September 18, 2020

Development Multifamily Student Housing Texas

Lincoln Ventures Completes 18-Story Student Housing Community Near UT Austin

by Taylor Williams September 18, 2020

AUSTIN, TEXAS — Lincoln Ventures has completed the development of Moontower, an 18-story student housing community located about a mile from the University of Texas at Austin. The property offers one-, two-, three-, four- and five-bedroom units with bed-to-bath parity. Shared amenities include a rooftop pool and lounge, a study lounge with individual study rooms, a fitness center, yoga and spin studio, coffee bar and 24-hour package concierge. The community’s development team included interior designer Chelsea Kloss Interiors, contractor JE Dunn and architect Gensler.

September 18, 2020

Development Indiana Midwest Multifamily

Milhaus, Kite Realty Group to Develop $40M Apartment Project at Glendale Town Center in Indianapolis

by Kristin Harlow September 18, 2020

INDIANAPOLIS — Milhaus and Kite Realty Group Trust have unveiled plans to develop AYR, a $40 million apartment development at Glendale Town Center in Indianapolis. The developers identified underutilized land to be transformed into the 267-unit multifamily project. Milhaus and Kite will also build new bike lanes, a left turn lane and green spaces. Completion of the apartments is slated for 2021. Glendale Town Center, a shopping center dating back to 1958, is home to tenants such as Target and Lowe’s. The name AYR comes from the department store L.S. Ayres & Co., which was part of Glendale Town Center when it first opened.

September 18, 2020

Development Industrial Midwest Wisconsin

Principle Construction Completes 96,305 SF Expansion at Wisconsin Industrial Building

by Kristin Harlow September 18, 2020

PLEASANT PRAIRIE, WIS. — Principle Construction Corp. has completed a 96,305-square-foot expansion to a 194,611-square-foot industrial building located at 10411 80th Ave. in Pleasant Prairie. Principle, which constructed the original building in 2017, completed the expansion on a speculative basis on behalf of the new owner STAG Industrial. The property features a clear height of 36 feet, 20 dock doors, 81 auto parking stalls and office space. Partners in Design Architects provided design services.

September 18, 2020

California Development Mixed-Use Multifamily Office Restaurant Retail Western

Presidio Bay Ventures Takes Overs Construction of Mixed-Use Development in Menlo Park, California

by Amy Works September 18, 2020

MENLO PARK, CALIF. — San Francisco-based Presidio Bay Ventures has taken over construction, lease-up and stabilization of the 6.4-acre mixed-use development, located at 1300-1302 El Camino Real and 550 Oak Grove Ave. in Menlo Park. The strategic operation of the project, renamed Springline, was transitioned to Presidio Bay mid-construction in June. Since then, the firm’s development team has overhauled nearly all aspects of the project. Situated in Menlo Park’s pedestrian-oriented downtown city center, Springline will feature two 100,000-square-foot Class A office buildings, 183 residences, retail, dining, a dual-level subterranean parking garage and public outdoor space. Approved by Menlo Park City Council in early 2017, original construction for the project started later that year. Delivery of the commercial buildings is slated for fourth quarter and leasing of the residential component is scheduled to begin in second-quarter 2021. Christian Prelle, Mike Courson and Clay Jones of Newmark Knight Frank’s Palo Alto, Calif., office, along with Cassidy Zerrer of NKF’s San Francisco office, are handling office leasing efforts for the project.

September 18, 2020

Development Midwest Mixed-Use Ohio Top Stories

Flaherty & Collins Breaks Ground on $250M Phase I of The Peninsula Mixed-Use District in Downtown Columbus, Ohio

by Katie Sloan September 18, 2020

COLUMBUS, OHIO — Flaherty & Collins Properties has broken ground on Phase I of The Peninsula, a $500 million mixed-use redevelopment of 27 acres of land along the Scioto River in downtown Columbus. The $250 million first phase of development will include ONE at the Peninsula, an $85 million apartment complex featuring 12,000 square feet of ground-floor retail; an eight-story, 232,000-square-foot speculative office building; and a 132,000-square-foot, 197-key independent hotel. First National Bank of Omaha, First Merchants Bank and 50 East Capital are financing construction of the apartment property. The community will offer shared amenities including an 11th-floor sky deck with a swimming pool; a rooftop clubroom with a community kitchen, bar and gaming space; an outdoor grilling patio; a private gated courtyard; pet spa; and a fitness center with space for yoga and virtual fitness classes. Columbus-based Daimler Group Inc. is developing the speculative office building and Rockbridge is developing the hotel project. A timeline for Phase I of the development was not announced. The City of Columbus plans to issue $30 million in bonds to finance the construction of two parking garages totaling 1,400 spaces to serve the development. At completion, The Peninsula will feature 2 million square feet of …

September 18, 2020

Development Florida Multifamily Southeast

Ram Realty Advisors Delivers 243-Unit Multifamily Community in Fort Lauderdale

by Alex Tostado September 17, 2020

FORT LAUDERDALE, FLA. — Ram Realty Advisors has delivered CURV, a 243-unit multifamily community in Fort Lauderdale. The property offers one-, two- and three-bedroom floor plans ranging from 748 to 1,603 square feet with rents starting at $2,010 per month. Communal amenities include a pool, private cabanas, outdoor kitchen with grills and a TV, fitness center, yoga studio, pet grooming salon and electric car chargers. CURV is situated at 410 SE 16th Court, two miles south of downtown Fort Lauderdale. Bozzuto manages and heads leasing for the eight-story asset. Virtual leasing is underway at CURV, which is named for its curved facade reminiscent of Miami decor in the 1950s and 1960s. The City of Fort Lauderdale issued the developer a temporary certificate of occupancy Aug. 26.

September 17, 2020

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