Property Type

Hyde Development Acquires 111 Acres in Fargo with Plans to Build 1.4 MSF Spec Industrial Project

by Kristin Harlow February 2, 2023

FARGO, N.D. — Hyde Development has acquired 111 acres in Fargo with plans to build Dakota Commerce Center North, a 1.4 million-square-foot speculative industrial project. Hyde will offer users the flexibility of build-to-suit footprints ranging from 20,000 to 500,000 square feet. The development will feature convenient access to I-29 and Hector International Airport. Chance Lindsey and Kyle Ferderer of CBRE represented Hyde in the land purchase. The brokers have also been retained as the leasing agents for the project. Hyde is also the developer behind Dakota Commerce Center, a four-building project totaling 633,200 square feet. To date, two buildings have been completed and fully leased. Building 3 is slated for completion this August.

February 2, 2023

Arizona Development Multifamily Western

Joint Venture Plans 394-Unit Atlas Mesa Apartment Property in Mesa, Arizona

by Amy Works February 2, 2023

MESA, ARIZ. — A joint venture between PCCP and The Dinerstein Cos. has unveiled plans to develop Atlas Mesa, a Class A multifamily community in Mesa. The partnership plans to break ground on the property in late July, with initial occupancy slated for first-quarter 2025 and final completion scheduled for late 2025. Located at the northwest corner of East Baseline Road and South Sunview, Atlas Mesa will feature 394 studio, one-, two- and three-bedroom layouts, ranging from 562 square feet to 1,394 square feet. Situated on 9.8 acres, the 400,000-square-foot community will consist of four four-story buildings served by elevators and a leasing and amenity building. Community amenities will include an outdoor pool with spa, clubhouse and coworking space. Additionally, the property features smaller outdoor amenity spaces throughout the community.

February 2, 2023

Development Midwest Minnesota Multifamily

Kraus-Anderson Completes Construction of $66M Luxury Apartment Tower in Downtown Minneapolis

by Kristin Harlow February 2, 2023

MINNEAPOLIS — Kraus-Anderson has completed construction of Moment, a $66 million luxury apartment tower developed by Sherman Associates in downtown Minneapolis. Designed by ESG Architecture & Design, the 222-unit project is located at 650 Portland Ave. The second floor of the 10-story building is home to Firefighters for Healing and its Transitional Healing Center for injured fighters and burn survivors. The center provides 12 suites for families awaiting a patient receiving care at nearby Hennepin Healthcare Burn Unit, a regional center for burn treatment. It also accommodates discharged patients as they transition before returning home. Amenities at Moment include a pool, sauna, hot tub, sports simulator, work-from-home space, rooftop lounge and underground parking. Energy usage for Moment is offset by energy production from a solar garden in Carver County. The project also features nearly 15,000 square feet of commercial space with skyway access. A Starbucks store is expected to open this spring. Monthly rents start at $1,657, according to the property’s website. The name Moment is derived from the phrase “live in the moment.”

February 2, 2023

Development Industrial Midwest Ohio

Contegra Renovates 527,000 SF Warehouse for American Nitrile Near Columbus

by Kristin Harlow February 2, 2023

GROVE CITY, OHIO — Contegra Construction Co. has completed the renovation of a 527,000-square-foot warehouse in Grove City near Columbus for medical glove maker American Nitrile. The manufacturing facility will produce 4 billion medical research lab gloves annually. Contegra worked with engineering firm IMEG to fortify infrastructure that would support a highly complex automated manufacturing process with 12 production lines. The facility also includes 15,000 square feet of remodeled office and lab space. American Nitrile was founded in 2021 in response to the need for domestic sources of manufacturing of personal protective equipment (PPE) products.

February 2, 2023

Acquisitions Illinois Midwest Office Retail

Baird & Warner Brokers $6.2M Sale of Office, Retail Building in Chicago

by Kristin Harlow February 2, 2023

CHICAGO — Baird & Warner has brokered the sale of a nearly 29,000-square-foot office and retail building in Chicago’s Streeterville neighborhood for $6.2 million. Located at 212 E. Ohio St., the property is one block east of the city’s Magnificent Mile. Originally constructed in 1965, the five-story building is fully leased to tenants such as @properties Christie’s International Real Estate and Central City Productions. Brant Sichko of Baird & Warner represented the undisclosed buyer. Mike Rourke and Dan Stratis of @properties represented the sellers, Theus Property Holdings LLC and Miden Property Holdings LLC.

February 2, 2023

California Development Hospitality Mixed-Use Restaurant Retail Top Stories Western

LRE & Cos., American Hospitality Services Unveil Plans for 11-Acre Mixed-Use Development in Roseville, California

by Jeff Shaw February 2, 2023

ROSEVILLE, CALIF. — LRE & Cos. and American Hospitality Services have unveiled full plans for Roseville Junction, a new mixed-use development in Roseville. The property will feature two hotels, three restaurants, an entertainment and sports complex and an outdoor gathering space. Roseville Junction will be built on an 11-acre site that is 20 miles northeast of Sacramento. The site is adjacent to Highway 65 near Interstate 80, and is located nearby many of the area’s vineyards and wineries, as well as new retail and shopping amenities such as the Roseville Galleria. A timeline for completion was not disclosed. The family- and pet-friendly outdoor gathering space will be called Social Connection and will offer guests a variety of food and beverage options, including craft brewery Fieldwork Brewing Co. The restaurants leases are currently under negotiation. The project’s entertainment and sports complex, The Electric Pickle, will include a bocce ball court and 10 pickleball courts. The Electric Pickle will also offer food options such as wood-fired pizzas, tacos, burgers and more. Guests will be able to place food and beverage orders through an app and have their food delivered by “food ambassadors” moving throughout the property. The two five-story, select-service hotels will be …

February 2, 2023

Market Reports Michigan Midwest Midwest Market Reports Retail

Like Football Team, Detroit Retail Sector Roars Back

by Kristin Harlow February 2, 2023

By Evan Lyons, Encore Real Estate Investment Services Looking back on 2022, it could be said that Detroit’s economic performance last year mirrored that of the city’s tenacious Detroit Lions’ football season. Both were mired in doubt, plagued by volatility and sustained by grit, yet beyond all expectation, when the clock ran down, both proved the naysayers wrong. Just as the Lions surprised doubters by finishing their season at 9-8 and beating their divisional rivals, the Green Bay Packers, Detroit surpassed expectations by outpacing the national jobs growth rate of 5.8 percent at mid-year 2022 with a rate of 8.6 percent year-over-year. Gains in employment and wages are expected to continue over the next few years, according to a University of Michigan study. The city bolstered its “offensive line” with new store openings and new construction throughout the urban core. Stadiums and parks were filled again, fueled by crowd-pleasing events and programing, including Belle Isle parks’ notorious, over-waxed giant slide, which went viral and gained infamy last year for catapulting riders who dared venture a ride. Detroit also scored points in visits to leisure and hospitality establishments during the past 12 months. Visits increased by 50 percent from June …

February 2, 2023

Development Loans Multifamily Texas

Anthem Development Receives $63M in Financing for Multifamily Project in Metro Dallas

by Taylor Williams February 1, 2023

GARLAND, TEXAS — Dallas-based Anthem Development has received $63 million in construction debt and joint venture equity for a 340-unit multifamily project in Garland, a northeastern suburb of Dallas. The community, named Lofts iThirty, will consist of five four-story buildings with two pools, two fitness centers, a pet park, coffee bar, game room and outdoor kitchens. Construction is set to begin this summer and to be complete in 2025. Los Angeles-based Nova Capital arranged the financing through Bank OZK and secured an undisclosed, institutional investment firm as the joint venture equity partner.

February 1, 2023

Development Industrial Texas

EastGroup Properties Breaks Ground on 351,000 SF Industrial Complex in Fort Worth

by Taylor Williams February 1, 2023

FORT WORTH, TEXAS — Mississippi-based developer EastGroup Properties has broken ground on a three-building, 351,000-square-foot industrial complex in North Fort Worth. The project represents Phase II of Basswood 35, a seven-building, 882,000-square-foot development. The buildings will span 89,741, 130,750 and 130,750 square feet and feature front- and rear-load configurations. Method Architects designed the project, and Talley Riggins is serving as the general contractor. Halff Associates is the civil engineer, and NAI Robert Lynn is the leasing agent. Construction is slated for a fourth-quarter completion.

February 1, 2023

Industrial Loans Northmarq Self-Storage Texas

Northmarq Arranges Refinancing of 251-Unit Self-Storage Facility in Montgomery, Texas

by Taylor Williams February 1, 2023

MONTGOMERY, TEXAS — Northmarq has arranged a loan of an undisclosed amount for the refinancing of Town Creek Storage, a 251-unit self-storage facility in Montgomery, about 60 miles north of Houston. The facility was built in 2017. Matt Franke and Michael Borden of Northmarq arranged the fixed-rate loan, which was structured with a five-year term and a 25-year amortization schedule. The borrower and direct lender were not disclosed.

February 1, 2023

Newer Posts

Older Posts