MESQUITE, TEXAS — Vehicle Accessories Inc., a manufacturer of automotive parts like splash guards, body side moldings and bumper protectors, will relocate its corporate headquarters to Mesquite, an eastern suburb of Dallas. The move is expected to bring about 315 new jobs and $30 million in total capital investment to the local economy. The company will consolidate its operations in Buffalo, Toronto, nearby Sunnyvale, Texas, and Magog (Quebec) into a build-to-suit, 310,000-square-foot building at Alcott Logistics Station. Vehicle Accessories plans to take occupancy of the building, which is being developed by Jackson-Shaw, by the end of 2022.
ALLEN, TEXAS — MD7, a provider of mobile infrastructure consulting services, has signed a 25,000-square-foot office lease in the northeastern Dallas suburb of Allen. The firm is relocating its headquarters from San Diego to One Bethany West, which is located on the 17-acre Watters Creek campus. The move is expected to bring about 200 new jobs and $6.8 million in capital investment to the regional economy.
PISCATAWAY, N.J. — Indianapolis-based Duke Realty has completed a 622,230-square-foot, build-to-suit industrial project for Bob’s Discount Furniture in the Northern New Jersey community of Piscataway. Building features include 40-foot clear heights, 125 dock doors, 302 automobile parking spaces and 127 trailer parking spaces. The Connecticut-based national discount retailer, which operates 150 stores across 23 states, expects to bring hundreds of new jobs to the area in the coming years as it expands its supply chain and distribution network.
STATE COLLEGE, PA. — Aspen Heights Partners, an Austin-based developer of apartment and student housing communities, has broken ground on Aspen East Penn, a 651-bed multifamily project in State College, home of Penn State University. The two-building property will be located less than a mile from campus and will house 24,299 square feet of ground-floor retail space. In addition, Aspen East Penn will feature one-, two-, three-, four- and five-bed floor plans across its 262 units, 28 of which will be reserved as workforce housing. Amenities will include a pool, courtyard and an outdoor terrace. Completion is slated for 2023.
NEW YORK CITY — JLL has arranged the $88.5 million sale of a 76,000-square-foot residential development site located within a Qualified Opportunity Zone in the Long Island City area of Queens. The site is zoned to allow a total buildable area of 444,000 square feet. Bob Knakal, Stephen Palmese, Brendan Maddigan and Jonathan Hageman of JLL represented the seller, an undisclosed private investor, in the transaction. Christopher Peck, Andrew Scandalios, Rob Hinckley, Jeff Julien and Nicco Lupo of JLL arranged an equity partnership with Bridge Investment Group on behalf of the buyer, a joint venture between The Domain Cos., L+M Development Partners and The Vorea Group.
OLD BRIDGE, N.J. — A partnership between developers BNE Real Estate Group, LPZ and Sterling Properties has begun leasing 99 Bridge, a 150-unit apartment complex in Old Bridge, about 35 miles south of New York City. The property features one- and two-bedroom units with quartz countertops, stainless steel appliances, espresso cabinetry and individual washers and dryers. Amenities include a pool, fitness center, coworking lounge, outdoor grilling areas, game room, dog park, package lockers and a children’s play area. Monthly rents start at $2,280 for a one-bedroom unit.
By Alexandra Loye, Senior Vice President, Healthcare & Life Sciences Services, Colliers Despite global and domestic market challenges from the pandemic, Phoenix continues to shine amongst its competitive Western cities. With Maricopa County being the fastest-growing county in the U.S., Phoenix offers employers a diverse, educated workforce, business-friendly environment and affordable housing options. Arizona’s economy is booming and experiencing record revenue growth, as well as personal income growth. From 2019 to 2020, Arizona led the nation (tied with Montana) in the category of highest personal income growth with a 7.1 percent increase. The state is also projected to add 325,000 jobs in the next 12 months. Phoenix’s life sciences industry has gained significant momentum during the past 12 months, with no slowdown in sight. The Phoenix Biomedical Campus (PBC) in downtown Phoenix is ground zero for life sciences development and tenant activity. The 30-acre campus is currently occupied by Arizona State University, the University of Arizona, Northern Arizona University, Translational Genomics Research Institute (TGen), OncoMyx Therapeutics, Calviri, Vidium Animal Health, and Exact Sciences, which recently acquired Paradigm Diagnostics and Ashion Analytics. The PBC is the ideal environment when it comes to collaboration and innovation for life sciences tenants. The 227,000-square-foot, …
NEW BRITAIN, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $4.1 million sale of City Place Apartments, a 53-unit multifamily property with retail and restaurant space in New Britain, a southern suburb of Hartford. The sales price equates to $74,107 per unit and a cap rate of 7.35 percent. The buyer and seller were not disclosed. NEPCG represented both parties in the transaction.
By Jonathan Quinn, associate, RODE Architects The industrial typology is no longer reserved for business parks in remote locations. As economic issues, changes in technology and increased demand for skilled labor highlight the need for more localized production and distribution, industrial buildings are moving back to cities and residential areas. This presents a major opportunity for cities to reclaim and revitalize their aging industrial districts and increase employment opportunities within their markets. Proximity to population centers provides access to large customer bases, but it also requires that industrial architecture be approached in a different way. The scale reduction of the manufacturing systems and the movement to more clean and sustainable processes has solved part of this problem. As a profession, architects need to recognize that there are opportunities for good design to help integrate industrial projects as well. The program and needs of industrial projects are always unique, and in urban settings, it is critical that they respond well to the site and its adjacencies. One of RODE’s projects, 250 Marginal Street in Chelsea, Massachusetts, is a 146,000-square-foot freight forwarding facility that uses its materiality as one of its main design features. As the building is a large …
WALLER, TEXAS — San Antonio-based developer LYND and T.R. Inscore have formed a joint venture to develop single-family rental communities and will kick off the endeavor with a $35 million project in Waller, a northwestern suburb of Houston. The first phase of the development, which will be branded The Village at Waller, will consist of 118 units that will be constructed on a 14.7-acre site. The joint venture plans to potentially build as many as 700 homes on an additional 52 acres. Residences will feature two- and three-bedroom formats and range in size from 1,090 to 1,657 square feet. Communal amenities will include a pool, fitness center, dog park, playground and outdoor grilling areas. Rents will range from $1,600 to $2,250 per month.