REBusinessOnline

Philadelphia 76ers Unveil Plans for $1.3B Stadium in Center City

PHILADELPHIA — Josh Harris and David Blitzer, managing directors of the National Basketball Association’s Philadelphia 76ers, have formed a development corporation for construction of the team’s new arena, known as 76 Place, in Center City Philadelphia. Development costs are estimated at $1.3 billion, with plans to complete construction before the 2031-2032 NBA season.The property will be part of Fashion District Philadelphia, a 900,000-square-foot mall redevelopment that opened in …

Contegrity Group Completes Construction of Wright County Government Center in Buffalo, Minnesota

BUFFALO, MINN. — Contegrity Group has completed construction of the Wright County Government Center in Buffalo, about 42 miles northwest of Minneapolis. BKV Group designed the four-story, 222,538-square-foot building, which is located on the same campus as the county’s law enforcement and justice centers. Parking has been reconfigured to be closer to each building and expanded from 275 to 1,600 total spaces. BKV Group provided planning and pre-development services and led all architecture, …

Partnering With Parents Buys Office Park in Oceanside for $11.8M, Plans Conversion to Charter School Campus

OCEANSIDE, CALIF. — Sunrise Capital has completed the disposition of a vacant office campus situated on six acres at 1305-1320 Union Plaza Court in Oceanside. Partnering With Parents, doing business as The Classical Academies, acquired the asset for $11.8 million.The buyer, an organization of tuition-free California public charter schools in North San Diego County, plans to convert the four-building, 99,968-square-foot office park into a school campus.Peter Curry, Jason Kimmel and Tim …

Progress Capital Places $54.5M Construction Loan for Newark Educational Project

NEWARK, N.J. — Locally based mortgage banking and advisory firm Progress Capital has placed a $54.5 million construction loan for an educational project in Newark. The borrower, an entity doing business as 155 Jefferson LLC, plans to redevelop the site of the former St. James Hospital, which has been vacant for 15 years, into a 179,100-square-foot specialized higher learning center. Specifically, the new facility will support students studying architecture, computer-aided design and …

Adolfson & Peterson Breaks Ground on 60,000 SF Early Education Center at Midland College

MIDLAND, TEXAS — General contractor Adolfson & Peterson has broken ground on a 60,000-square-foot early education center at Midland College in West Texas. The two-story building will be an expansion of the existing pre-K campus, allowing for an enrollment increase of more than 200 students. Parkhill is designing the project, which is expected to be complete in time for the fall 2023

Charlotte City Council OKs $275M Financing for Spectrum Center Renovations, New Practice Facility for Hornets

CHARLOTTE, N.C. — The Charlotte City Council has approved the proposed $275 million financing package for renovations to Spectrum Center, the home arena for the NBA franchise Charlotte Hornets. The city council voted 10-1 to approve the plan, which includes a $60 million budget to build a new basketball practice training facility that will be funded via new revenue generated from sponsorships and naming right agreements. Financing for the city’s role in the $215 million in renovations to …

Shawmut Breaks Ground on 70,000 SF Academic Building in Worcester, Massachusetts

WORCESTER, MASS. — Shawmut Design & Construction has broken ground on a 70,000-square-foot academic building at Clark University in the central Massachusetts city of Worcester. The two-wing building will serve as the new center for the media arts, computing and design programs. Design features will include a multimedia gallery, virtual reality lab, video game library for researching interactive media, a makerspace, incubator space, robotics lab, data science lab, a tiered classroom and …

Avenue Opens 30,500 SF Community Resource Center in Houston

HOUSTON — Avenue, a locally based affordable housing owner-operator, has opened a 30,500-square-foot community resource center in Houston’s Near Northside neighborhood. Global architecture firm Page designed the three-story facility, which houses a community health clinic that provides an array of general and specialty services, as well as a YMCA Children’s Academy. The facility opened in phases beginning last year and now has all services fully

Syndicated Equities Acquires 110-Space Parking Garage in Manhattan’s Midtown East Area

NEW YORK CITY — Chicago-based investment firm Syndicated Equities has acquired a 110-space parking garage located at 58 W. 58th St. in Manhattan’s Midtown East neighborhood. The structure house both ground-level and underground parking space. Syndicated Equities acquired the property, which is leased to Icon Garages, in partnership with Centerpark Realty, a locally based investment firm that specializes in the product type. The seller and sales price were not

University of Maryland Medical Center Breaks Ground on $219M Healthcare Tower in Baltimore

BALTIMORE — The University of Maryland Medical Center (UMMC) has broken ground on the Roslyn and Leonard Stoler Center for Advanced Medicine, a nine-story patient care tower located on the UMMC campus at 22 S. Greene St. in downtown Baltimore. The facility will serve as the new entrance to the UMMC and house the University of Maryland Marlene and Stewart Greenebaum Comprehensive Cancer Center (UMGCCC). The $219 million development is expected to be completed in mid-2025. The project, which …

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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