DETROIT — Construction Partners LLC will host a preview event at Broderick Tower on Thursday, April 5, for visitors to view the ongoing $53 million restoration project at the historic, 34-story building. When complete in September, the Detroit tower will house a restaurant and lounge, three floors of office space and 125 apartments on floors 5 through 34. The Broderick, originally known as Eaton Tower, was built in 1928. The developer plans to unveil a fully finished 17th floor model unit at Thursday's event. Located in the heart of Detroit's sports and entertainment district, the Broderick event will coincide with the opening of the Tigers' 2012 MLB season at Comerica Park.
CHESTNUT HILL, MASS. — The former Macy's building is being demolished to make way for the second phase of redevelopment work at the Chestnut Hill Shopping Center. The 120,000-square-foot space will be used for a Sports Club/LA health and fitness complex, a cinema and several retail stores. The first phase of the redevelopment was completed in 2009 and included the renovation of Star Market. The third phase will begin later this year and include a new, 64,000-square-foot building located on the site that will include retail stores and restaurants. The developer, WS Development, plans to house its corporate headquarters in the building.
PORTAGE, IND. — Fronius USA has selected Holladay Properties and Holladay Construction Group to design and construct the company's new headquarters in Portage. The company develops and manufactures battery charging systems. The 399,500-square-foot project will include 20,000 square feet of office space, as well as the construction of a welding shop and service center for Fronius' products. Holladay Construction will serve as the general contractor and Holladay Properties will complete the design work. Construction is expected to wrap up this September.
NEEDHAM, MASS. — Construction has begun on a new data and office building for Digital Realty Trust, a data center provider, in Needham. The facility is located at 105 Cabot St. and will comprise 130,335 square feet. Jones Lang LaSalle will serve as the leasing agent. The project is slated for completion in the second quarter of 2013.
NEW YORK CITY — A partnership has acquired a 300,000-square-foot building located at 1775 Grand Concourse in the Bronx. The buyers include James Houlihan of Houlihan Parnes Realtors and Sam Jemal, Joseph Jemal and David Jemal of JJ Operating Corp. Recently, the property was rezoned and approved for parking on the lower level and for office use on floors 4-8. Each floor contains 40,000 square feet, and about 220,000 square feet will be available for lease. Verizon will occupy two levels of the building. The partnership plans to invest $5 million in building renovations, including new lobby elevators and retail fronts. The purchase price was undisclosed.
BOSTON — New York-based Shire Real Estate has purchased 961 Commonwealth Ave. in Boston for $4.3 million. The 15,000-square-foot property includes retail and research and development/laboratory space. Tenants include Qdoba Mexican Grill and Brigham & Woman's Hospital Inc. Bradford Spencer of Grubb & Ellis represented the seller, Commonwealth Avenue Realty Trust, in the transaction.
HOLLYWOOD, CALIF. — Champion Real Estate Company has purchased a 1.14-acre commercial parking lot in Hollywood where it plans to develop a mixed-use project. The firm will continue to operate the parking lot, located at 1717 Cherokee and 1718 Las Palmas, until construction commences. This is Champion’s second Hollywood acquisition within a year. It also recently purchased a $20-million, 2.76-acre redevelopment site for another mixed-use development.
PLANTATION, FLA. — A joint venture between Stiles and Prudential Real Estate Investors has commenced construction on the 321-unit One Plantation, a luxury apartment community located at the intersection of University Drive and Interstate 595 in Plantation. The partnership obtained $40.6 million in construction financing from PNC Bank for the project, which Stiles Construction is building. Amenities will include a pool, spa, fire pit, fitness center and an entertainment area with game rooms, a movie theater and a lounge. Cohen Freedman Encinosa designed the complex. In addition, Stiles has plans to renovate its 65,000-square-foot University Shoppes, which is adjacent to One Plantation. Construction is slated to begin later this spring. Both projects are scheduled for completion in the third quarter of 2013.
ARLINGTON, VA. — The Arlington County Board has approved the site plan for a 200,000-square-foot mixed-use development, located at 3901 N. Fairfax Dr. in Arlington. The property will include retail and office space, as well as a 13,000-square-foot performing arts theater and a conference center. Avison Young has been selected to lease the property, which is slated for completion in early 2014.
TAUNTON, NORTH DIGHTON, WALPOLE, MASS. — The Manzo Co. has purchased a portfolio of four properties totaling more than 1 million square feet in Massachusetts for $25 million. The properties include a 396,765-square-foot industrial property in Taunton and a 400,000-square-foot manufacturing, warehouse and distribution facility in North Dighton. The third property is a 315,000-square-foot office, retail and flex building in Walpole. Doug Jacoby and Scott Dragos of NAI Hunneman represented the seller, New Jersey-based Rubenstein Properties, in the transaction. Dragos, Jacoby and Dan Jacobson of Hunneman Capital Group represented the buyer.