Civic

Kraus-Anderson Breaks Ground on $33.7M Elementary School in Virginia, Minnesota

by Kristin Harlow September 12, 2022

VIRGINIA, MINN. — Kraus-Anderson Duluth has broken ground on a new elementary school for Rock Ridge Public Schools in Virginia, a city in Northeast Minnesota. Named North Star Elementary School, the property will be located at 411 S. 5th Ave. The $33.7 million project will rise three stories and serve students in grades 3-6. Cuningham Group designed the school in collaboration with local design firm ARI. Special features will include a second-floor outdoor learning patio and collaborative learning spaces. An existing gymnasium at the property will be rebranded. Completion is slated for the end of 2024.

September 12, 2022

Civic Development Texas

Cadence McShane Breaks Ground on 231,000 SF Middle School in Richardson, Texas

by Taylor Williams September 9, 2022

RICHARDSON, TEXAS — General contractor Cadence McShane has broken ground on Lake Highlands Middle School, a 231,000-square-foot campus in metro Dallas that will be part of the Richardson Independent School District. The campus will comprise three buildings with traditional classrooms and administrative spaces, as well as a cafeteria, two competition gyms, a weight room, track and practice field and tennis courts. Perkins + Will is designing the school, which should be able to support about 1,500 students. Completion is slated for fall 2024.

September 9, 2022

Civic Development Texas

Harmony Public Schools to Open 160,000 SF Campus at CityPlace in Houston

by Taylor Williams August 31, 2022

HOUSTON — Harmony Public Schools, a charter program focused on the science, technology, engineering and math (STEM) disciplines, will open an 160,000-square-foot Houston campus for students in grades pre-K through 12. The campus will be located within CityPlace, a mixed-use development that is led by New York-based Coventry Development Corp. The 60,000-squuare-foot campus for pre-K and elementary students is scheduled to open in advance of the 2024-2025 academic year, and the 100,000-square-foot middle and high school campus should come on line in time for the 2026-2027 school year.

August 31, 2022

Civic Development Massachusetts Northeast

Shawmut Design & Construction Tops Out $325M Academic Building in Worcester, Massachusetts

by Taylor Williams August 23, 2022

WORCESTER, MASS. — Shawmut Design & Construction has topped out a $325 million academic building that will be part of the UMass Chan Medical School in Worcester. The nine-story, 350,000-square-foot building will primarily be used to house and conduct biomedical research. Construction originally began in November 2020 and is slated to be complete in 2024.

August 23, 2022

Civic District of Columbia Loans Office Southeast Top Stories

Mesirow Provides $275M Refinancing for NASA Headquarters in Washington, D.C.

by John Nelson August 16, 2022

WASHINGTON, D.C. — Mesirow, a financial services firm based in Chicago, has provided the $275 million refinancing for the National Aeronautics and Space Administration (NASA) headquarters offices in Washington, D.C. Located at 300 E St. SW, the nine-story office building spans more than 600,000 square feet and was built in 1991, according to LoopNet Inc. The borrower is a partnership between Hana Alternative Asset Management and Ocean West Capital Partners. Proceeds from the financing provided the partnership with fixed-rate debt that is interest-only for the full term. The loan has a 2028 maturity date, which is coterminous with NASA’s lease. With the funds, the Hana and Ocean West partnership is recapitalizing its equity interest at the property, which is subject to the sixth-largest lease by the General Services Administration (GSA), the federal government’s independent agency that oversees certain operations like office and research space. (The GSA is the leaseholder for NASA.) Mesirow served as placement agent and administrative agent on the financing. Cushman & Wakefield arranged the financing on behalf of the borrower and negotiated terms between the borrower and Mesirow. Mesirow was founded in 1937 and offers credit tenant lease and structured debt products to borrowers. The company’s services …

August 16, 2022

Acquisitions Civic Michigan Midwest

Dominion Negotiates Sale of Former Law School Campus in Auburn Hills, Michigan

by Kristin Harlow August 10, 2022

AUBURN HILLS, MICH. — Dominion Real Estate Advisors has negotiated the sale of the former Western Michigan University/Thomas M. Cooley Law School campus in Auburn Hills for an undisclosed price. The 132,745-square-foot property is located at 2630 Featherstone Road. Eric Banks, Jim Mitchell, Andrew Boncore and David Depodesta of Dominion brokered the transaction. The buyer, FANUC Robotics, plans to expand the campus and spend $86 million to build a new 655,000-square-foot manufacturing facility. FANUC will utilize the existing building for its administrative, engineering, and research and design departments. The university’s current law school is located at 300 S. Capitol Ave. in Lansing.

August 10, 2022

Civic Leasing Activity Northeast Pennsylvania

Cushman & Wakefield Negotiates 31,718 SF Lease at The Washington in Philadelphia

by Taylor Williams August 9, 2022

PHILADELPHIA — Cushman & Wakefield has negotiated a new lease at The Washington, a historic building located within Philadelphia’s Independence Mall. The tenant, Lighthouse Immersive & Impact Museums, will open a 31,718-square-foot exhibition gallery on the building’s ground floor next spring. Brian Young, Jack Meyers, Howard Traul and Dan Brogan of Cushman & Wakefield represented the locally based landlord, Keystone Development + Investment, in the lease negotiations.

August 9, 2022

Civic Development Mixed-Use Northeast Pennsylvania Top Stories

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

by Jeff Shaw July 22, 2022

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 September 2019. The team will partner closely with Macerich, which owns Fashion District, on the project. The transit-oriented site is located at Market Street and South 11th Street, adjacent to five SEPTA public transit lines and three blocks from city hall. The Fashion District project was once a highly regarded development with top-tier retailers, but struggled due to the COVID-19 pandemic closing the doors on many retailers just six months after opening. “The decision to repurpose part of Fashion District Philadelphia to include the new 76ers arena is a natural evolution of the site and a unique and once-in-a-lifetime opportunity for our company,” says Tom O’Hern, CEO of Macerich. Team owner Harris Blitzer Sports & Entertainment tapped local real estate magnate David Adelman, CEO of Campus Apartments, co-founder of FS Investments …

July 22, 2022

Civic Development Midwest Minnesota

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

by Kristin Harlow July 15, 2022

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, structural, mechanical and electrical engineering, interior design and landscape architecture.

July 15, 2022

Acquisitions California Civic Development Office Western

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

by Amy Works July 8, 2022

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 Winslow of Cushman & Wakefield represented the seller, while Jon Walters and Jim Benson of Kidder Mathews represented the buyer in the deal.

July 8, 2022

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