Property Type

Cawley Breaks Ground on 120,000 SF Parkwood Office Project in Plano

by Taylor Williams October 21, 2020

PLANO, TEXAS — Cawley Partners has broken ground on The Parkwood, a 120,000-square-foot office project that will be located at 3930 N. Dallas Tollway in Plano. Designed by global architecture firm Gensler, the Class A building will serve as the headquarters for First United Mortgage, which will occupy more than 50 percent of the leasable space and open a First United Bank branch on the main floor. Other building features include spacious floor plates, a fitness center and a 4:1000 parking ratio. Ridgemont Construction is the general contractor for the project, which is expected to be complete in November 2021. Cawley Partners also recently announced plans to develop a 150,000-square-foot office project near Dallas Love Field Airport.

October 21, 2020

Civic Development Midwest Minnesota

Kraus-Anderson Completes $18.4M Adaptive Reuse Project for Rochester Police Department in Minnesota

by Kristin Harlow October 21, 2020

ROCHESTER, MINN. — Kraus-Anderson has completed the adaptive reuse and construction of the Development Services and Infrastructure Center and the North Station for the Rochester Police Department (RPD) in southern Minnesota. The total project investment was $18.4 million. As space became limited at City Hall, the City of Rochester bought the former Think Bank building and land in 2016 in order to relocate the RPD and the city’s newly formed Development Services and Infrastructure team, which includes the Community Development Department, Building Safety and Public Works. Designed by BKV Group, the 47,000-square-foot transformation of the Think Bank building began in July 2019.

October 21, 2020

Civic Development Illinois Midwest

S.M. Wilson Breaks Ground on $6.5M Public Safety Building in Highland, Illinois

by Kristin Harlow October 21, 2020

HIGHLAND, ILL. —The City of Highland has selected S.M. Wilson & Co. to build a new $6.5 million public safety building. The 27,930-square-foot facility will house the city’s police, fire and EMS departments under one roof. A committee of public safety employees worked alongside the project architect, Loyet Architects. Completion is slated for summer 2021. Highland is located about 35 miles east of St. Louis.

October 21, 2020

Leasing Activity Midwest Missouri Retail

Westco Home Furnishings Leases 13,325 SF at Cassville Plaza in Southwest Missouri

by Kristin Harlow October 21, 2020

CASSVILLE, MO. — Westco Home Furnishings Co. has signed a 10-year, 13,325-square-foot retail lease at Cassville Plaza in Southwest Missouri’s Cassville. The furniture retailer maintains 12 locations across Missouri, Kansas and Oklahoma. Midwest Retail Properties (MRP) owns Cassville Plaza, which is a Walmart-anchored shopping center. Other tenants at the property include Tractor Supply and Dollar Tree. Westco is relocating from its current space on 8th Street. Tom Heintz of MRP is working with Westco to manage the buildout of the space. Westco anticipates opening for business at the new location in February.

October 21, 2020

Leasing Activity Midwest Missouri Restaurant Retail

Pappy’s Smokehouse to Open at The Shoppes at Mid Rivers in Suburban St. Louis

by Kristin Harlow October 21, 2020

ST. PETERS, MO. — Pappy’s Smokehouse is the latest business to join the tenant roster at The Shoppes at Mid Rivers in the suburban St. Louis community of St. Peters. The 2,800-square-foot restaurant is expected to open by the end of this month. This is the second location for Pappy’s, which serves signature dry-rubbed baby back ribs. GBT Realty Corp. owns The Shoppes at Mid Rivers, which opened in 2018 and is home to a mix of retailers such as Academy Sports, HomeGoods, Ulta, Marshalls and Outback Steakhouse.

October 21, 2020

Acquisitions Multifamily Texas

Conti Acquires 260-Unit Rustic of McKinney Apartments in Metro Dallas

by Taylor Williams October 21, 2020

MCKINNEY, TEXAS — Locally based owner-operator Conti Organization has acquired Rustic of McKinney, a 260-unit apartment community located at 2700 N. Brook Drive on the northern outskirts of Dallas. Built in 1997, the garden-style property is situated on 13 acres and offers amenities such as a newly renovated clubhouse, pool, outdoor kitchen and dog park. Taylor Hill, Michael Ware, Jay Gunn, Tom Burns and Will Jarnagin of Berkadia brokered the deal, the seller of which was not disclosed.

October 21, 2020

Development Hospitality Texas

Todd Interests to Open First Thompson Hotel in Dallas on Nov. 14

by Taylor Williams October 21, 2020

DALLAS — Locally based developer Todd Interests has pegged Friday, Nov. 14 for the grand opening of its 219-room Thompson Dallas hotel, the first property in the city to carry the brand. The project is a redevelopment of a historic building located at 205 N. Akard St in the city’s Downtown Historic District. The design team included Dallas-based Merriman/Anderson Architects (building), Cindy Zelazny of Interiors Limited and Todd Interests co-owner Caroline Todd (interior) and SWA Group (landscaping). Amenities include a full-service spa, fitness and wellness center, pool, ballroom and multiple dining venues. Thompson Hotels is a boutique lifestyle hospitality brand that was founded in 2001.

October 21, 2020

Connecticut Development Multifamily Northeast

RMS Cos. Begins Work on Phase I of 1,000-Unit Multifamily Project in Hartford

by Taylor Williams October 21, 2020

HARTFORD, CONN. — Connecticut-based developer RMS Cos. has begun construction of the $50 million first phase of Downtown North, a redevelopment project in Hartford that will ultimately add 1,000 new units to the local supply. Phase I of the project will feature studio, one- and two-bedroom floor plans, as well as retail and entertainment space and a 330-space parking garage, at Parcel C, located just north of Dunkin’ Donuts Stadium at Main and Trumbull streets. Construction of Phase I is expected to last about 20 months. The entire Downtown North redevelopment is valued at $200 million and will be developed in phases over the next five years.

October 21, 2020

Acquisitions New Jersey Northeast Office

JLL Negotiates Sale of 228,000 SF Office Building in Florham Park, New Jersey

by Taylor Williams October 21, 2020

FLORHAM PARK, N.J. — JLL has negotiated the sale of 180 Park Avenue, a 228,000-square-foot office building in Florham Park, about 30 miles west of New York City. Built in 2001, The Class A building is situated on 26.6 acres within the 268-acre Green at Florham Park master-planned development that is also home to Summit Medical Group, MD Anderson and the New York Jets. The building was 75 percent leased at the time of sale and offers amenities such as a newly renovated atrium lobby with a coffee bar, full-service cafeteria, fitness center, tenant lounge and a conference center. Container shipping firm Maersk Inc. is the building’s anchor tenant. Jose Cruz, Kevin O’Hearn, Steve Simonelli and Michael Oliver of JLL represented the undisclosed seller in the transaction. The buyer was a joint venture between Vision Properties and The Birch Group. Greg Nalbandian of JLL placed a three-year, floating-rate acquisition loan through CBRE Global Investors on behalf of the buyer.

October 21, 2020

Acquisitions Affordable Housing Multifamily New Jersey Northeast

SVN Brokers Sale of 412-Unit Affordable Housing Portfolio in Jersey City

by Taylor Williams October 21, 2020

JERSEY CITY, N.J. — SVN Affordable | Levental Realty has brokered the sale of a 412-unit affordable housing portfolio in Jersey City. The portfolio consists of four properties: Van Wagenen I (233 units), Van Wagenen II (114 units), Bergen Manor (40 units) and Kennedy Manor (25 units). SVN represented the undisclosed seller in the transaction. The buyer was a joint venture between Hudson Valley Property Group and Nuveen, the $1 trillion asset manager of TIAA. The new ownership will implement sustainable upgrades to the existing buildings in order to extend their affordability.

October 21, 2020

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