Property Type

LCOR Tops Out 463-Unit Multifamily Project on Coney Island

by Taylor Williams May 30, 2023

NEW YORK CITY — Locally based developer LCOR has topped out 1515 Surf Avenue, a 463-unit multifamily project in Brooklyn’s Coney Island area. Designed by STUDIO V Architecture, the building will offer one- and two-bedroom units and amenities such as an outdoor pool, landscaped courtyard, fitness center, an indoor basketball court, multiple tenant lounges and coworking spaces. Approximately 30 percent (139) of the residences will be reserved as affordable housing. The building will also house 11,000 square feet of retail space. LRC Construction is the general contractor for the project, completion of which is slated for early 2024.

May 30, 2023

50-Robert-Milligan-Parkway-Merrimack-New-Hampshire

Bohler Development Industrial New Hampshire Northeast

Trammell Crow, Diamond Realty Break Ground on 323,750 SF Industrial Project in New Hampshire

by Taylor Williams May 30, 2023

MERRIMACK, N.H. — A partnership between Dallas-based Trammell Crow Co. and Diamond Realty Investments has broken ground on a 323,750-square-foot industrial project in Merrimack, located in southern New Hampshire. The site at 50 Robert Milligan Parkway spans 43 acres. Building features will include a clear height of 36 feet, 53 dock-high doors, an ESFR sprinkler system and 2,000 square feet of office space. Macgregor Associates designed the project, and RC Anderson and Bohler are serving as the general contractor and civil engineer, respectively. Santander Bank provided construction financing, and CBRE is the leasing agent. Completion is slated for the fourth quarter.

May 30, 2023

Civic Development Massachusetts Northeast

Simmons University Opens 80,000 SF Science Center, Renovated Library at Boston Campus

by Taylor Williams May 30, 2023

BOSTON — Simmons University has opened an 80,000-square-foot science center and renovated library as part of the second phase of the One Simmons project at its Boston campus. Designed by Elkus Manfredi Architects, the science center houses over 22,000 square feet of lab space, including a new 30-bed nursing and health science simulation center. The reimagined library features 14,000 square feet of new study and collaborative learning space. Developed in partnership with Skanska International, One Simmons is a three-phase project that includes a residential redevelopment component.

May 30, 2023

Leasing Activity Life Sciences Massachusetts Northeast Office

Newmark Arranges 47,578 SF Office, Life Sciences Lease in Burlington, Massachusetts

by Taylor Williams May 30, 2023

BURLINGTON, MASS. — Newmark has arranged a 47,578-square-foot office and life sciences lease in Burlington, a northwestern suburb of Boston. The tenant, metals processor Nth Cycle Inc., has committed to leasing space at Blue Sky Center, a 158-acre campus. Matt Malatesta, Tyler McGrail, Michael Frisoli and Margaret Fee of Newmark represented the owner, Nordblom Co., in the lease negotiations. Nick Amarante and Mekae Hyde of Hughes Marino represented the tenant. Amenities at Blue Sky Center include a fitness center, café, basketball court, gaming area and a golf simulator.

May 30, 2023

Industrial Leasing Activity New Jersey Northeast

Fashion Designer Marcus Adler Signs 24,550 SF Industrial Lease in Ramsey, New Jersey

by Taylor Williams May 30, 2023

RAMSEY, N.J. — Fashion design firm Marcus Adler has signed a 24,550-square-foot industrial lease in the Northern New Jersey community of Ramsey. According to LoopNet Inc., the single-tenant property at 91 Grant St. was built in 1980. Andrew Somple and Jessica Curry of NAI James E. Hanson represented the tenant in the lease negotiations. An entity doing business as RW Ramsey Realty Corp. owns the building.

May 30, 2023

Civic Development Kansas Life Sciences Midwest Top Stories

McCarthy, Mortenson Complete $940M Animal Disease Research Facility in Manhattan, Kansas

by Jeff Shaw May 30, 2023

MANHATTAN, Kan. — McCarthy Mortenson NBAF, a joint venture between builders McCarthy Building Cos. and Mortenson Construction, has completed the National Bio and Agro-Defense Facility (NBAF) in Manhattan, approximately 55 miles west of Topeka and 115 miles west of Kansas City. Development costs for the animal disease research facility were estimated at $940 million. Developed to ensure public health and the safety and security of the nation’s food supply, the 707,000-square-foot facility is located on a 48-acre site. It is designed with stringent containment, blast-resistant and anti-terrorism requirements, as well as the Nuclear Regulatory Commission (NRC) high-wind design criteria adopted by the Department of Homeland Security. NBAF features laboratories functioning at multiple biosafety levels, including the first facility in the United States with biosafety level 4 containment capable of housing large livestock. The lab portions total 574,000 square feet, while the freestanding, 87,000-square-foot Central Utility Plant houses boilers, chillers, emergency diesel generators and other support elements for the main laboratory facility. In addition to having multiple laboratories, NBAF will also have a biologics development module to explore the development and production of potential vaccines, diagnostic platforms and veterinary medical countermeasures. The property will functionally replace the aging Plum Island Animal …

May 30, 2023

Features Retail

Open-Air Lifestyle Centers Take Over U.S. Suburbs

by Taylor Williams May 30, 2023

By Ed Coury, senior managing director, RCS Real Estate Advisors Open-air lifestyle centers can be defined as intentionally designed spaces that are set against beautiful landscapes and house high-quality dining, retail, entertainment, health and wellness uses. These centers are being developed or redeveloped at an increasing rate across the country. Lifestyle centers are particularly popular along “smile” states: California, Arizona, Texas, Georgia, Tennessee, Florida, South Carolina and North Carolina. This particular transformation has been a result of “de-mallification” in the suburbs, in which malls that were once largely indoors and anchored by big department stores are now being converted into mixed-use lifestyle developments. For background, lifestyle centers are not a new phenomenon; they have been gaining popularity since the early 2000s. While few new malls have been built in the last two decades, new lifestyle centers and conversions to lifestyle centers continue to emerge every year. So why are these lifestyle centers so popular, and what does the future of suburban retail look like? Shifting Tastes For one thing, consumer preferences have changed. Today, there is high demand for wellness. In a 2022 consumer report by IT consulting firm Accenture, 80 percent of people surveyed stated that wellness was an …

May 30, 2023

Georgia Industrial Market Reports Southeast Southeast Market Reports

Industrial Users are Pondering Where in Atlanta They’ll Set Up Shop

by John Nelson May 30, 2023

The Atlanta industrial market needs very little validation when it comes to answering the question “Why Atlanta?” More than a dozen companies started or based in Atlanta have grown over the past decade to valuations above $1 billion. Metro Atlanta had the second highest rate of job growth in the nation among large metro areas (6.7 percent), according to the U.S. Bureau of Labor Statistics. So rather than ask “Why Atlanta,” the better question is “Where in Atlanta?” As the Southeast’s population continues to grow, the metro Atlanta area continues in equal parts to add density to its thriving urban core as well as expand its suburban reach. With limited geographic barriers to development, outlying towns are quickly becoming absorbed into the definition of the Atlanta area. This persistent growth is placing demand on industrial space at an all-time high, requiring a nuanced view of site selection within the Atlanta MSA. The four corners of the Atlanta market reach nearly 60 miles from the urban center in each direction along highways I-75 and I-85, with new speculative projects under construction as far out as Adairsville, Commerce, Locust Grove and La Grange. Its breadth now includes Bremen and Rutledge in either …

May 30, 2023

Development Life Sciences Southeast Virginia

Skanska Tops Out $83.6M George Mason University Academic Building in Northern Virginia

by John Nelson May 26, 2023

MANASSAS, VA. — Skanska has topped out George Mason University’s new Life Sciences and Engineering Building at the school’s Prince William County Science and Technology (SciTech) Campus in Manassas. The $83.6 million, 132,000-square-foot building will support students enrolled in STEM-H majors, such as kinesiology, materials science, forensic science, bioengineering and mechanical engineering. (STEM-H is short for science, technology, engineering, math and health sciences.) The facility will comprise specialized instructional labs, classrooms, experiential learning laboratories and faculty and administrative offices. The property will also be part of the university’s Innovation Town Center, which will provide students at the SciTech Campus with a residential campus experience from their freshman year through their post-graduate work.

May 26, 2023

Acquisitions Alabama Hospitality Southeast

Hunter Hotel Advisors Arranges Sale of Four Hilton-Branded Hotels in Alabama Totaling 361 Rooms

by John Nelson May 26, 2023

ATLANTA — Hunter Hotel Advisors, a national hospitality brokerage firm based in Atlanta, has arranged the sale of four hotels in Alabama totaling 361 rooms. The assets include Home2 Suites Madison Huntsville Airport, Hilton Garden Inn Madison, Home2 Suites Decatur Ingalls Harbor and Home2 Suites Opelika Auburn. Tim Osborne and Trey Scott of Hunter represented the seller, an undisclosed institutional investment firm, in the sale. The portfolio’s buyer and sales price were also not disclosed.

May 26, 2023

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