Property Type

Sagewood CCRC in Phoenix Breaks Ground on 68-Unit Expansion

by Nellie Day March 30, 2017

PHOENIX — Sagewood, a luxury continuing care retirement community (CCRC) in North Phoenix, has broken ground on The Estates, a new neighborhood at the community. The expansion will include 24 new standalone homes as well as a 44-unit assisted living building, a 13,000-square-foot events center, a reconfiguration of the main entrance and new parking areas. Development partners on the project include Life Care Services, Westminster Capital and the Phoenix Chamber of Commerce. Sagewood currently features 292 units spanning the continuum of care, along with two clubhouses and on-site Acacia Health Center that recently doubled in size.

March 30, 2017

California Multifamily Seniors Housing Western

Life Care Services Plans 350-Unit Life Plan Community on West Coast

by Nellie Day March 30, 2017

SAN LUIS OBISPO, CALIF. — Life Care Services, as development and marketing consultant, has unveiled plans for Villaggio at San Luis Obispo, a luxury life plan community in San Luis Obispo, located in the Central Coast area between Los Angeles and the Bay Area. The entrance-fee community will feature the full continuum of care on site. When completed, the property will total 350 units. Robert Richmond, an architect, is the founder and executive director of design and development on the project. The property will feature streetscapes and a central plaza with an open-air design, including restaurants, gathering places and many other amenities. California-based RRM Design Group is the design architect. Developers are planning to seek LEED certification for the project. Construction is scheduled to begin in 2019.

March 30, 2017

Colorado Restaurant Retail Western

Tropical Smoothie Cafe Plans Expansion in Colorado

by Nellie Day March 30, 2017

DENVER — Tropical Smoothie Cafe plans for continued development in Colorado, targeting Denver, Colorado Springs and Centennial to expand its presence through franchise growth. Tropical Smoothie currently has three locations in Colorado. Spearheading Tropical Smoothie’s expansion throughout Colorado is husband-and-wife team Craig and Dianne LeMieux, area developers for the region. The LeMieuxs purchased area developer rights to the market in April 2016, along with two existing locations in Centennial. In addition to their development efforts in Colorado, the LeMieuxs are also Tropical Smoothie area developers in Michigan and Ohio. They currently have a total of 58 open locations throughout their markets, with an additional 39 cafes in development. Over the past three years, Tropical Smoothie Cafe has sold over 450 franchises nationwide. This year, the food and smoothie franchise plans to open 100 restaurants nationwide, focusing on franchise opportunities in markets such as Indianapolis, Nashville, Houston, Dallas, Cincinnati and Minneapolis, among others. By 2020, Tropical Smoothie Cafe aims to have 1,000 stores open across the U.S.

March 30, 2017

Colorado Multifamily Student Housing Western

Pinnacle Arranges $1.9M Sale of 12-Unit Property Near the University of Denver

by Nellie Day March 30, 2017

DENVER — Pinnacle Real Estate Advisors LLC has arranged the $1.9 million sale of a 12-unit housing community located one block from the University of Denver campus. Jeff Johnson and Matt Ritter of Pinnacle represented the undisclosed seller, and Peter Sengelmann and Jeff Johnson of Pinnacle represented the undisclosed buyer in the transaction.

March 30, 2017

Hospitality Loans Texas

Preston Hollow Arranges $115M in Construction Financing for Irving Hotel

by Taylor Williams March 30, 2017

IRVING, TEXAS — Preston Hollow Capital, a Dallas-based finance firm, has arranged $115 million in financing for the construction of Westin Irving Convention Center Hotel, a 12-story, 350-room hotel development in Irving. The property will offer 16,000 square feet of ballroom and meeting space, restaurant and retail facilities and a parking garage. Texas-based architecture firm BOKA Powell designed the hotel, which will be situated on a 17-acre tract adjacent to the Irving Convention Center at Las Colinas. Austin Commercial LP is general contractor on the project, which is slated for an early 2018 opening.

March 30, 2017

Office Texas

Three Firms Begin Construction of 460,000 SF Office Tower in Downtown San Antonio

by Taylor Williams March 30, 2017

SAN ANTONIO — Weston Urban, KDC and TRT Holdings Inc. have broken ground on Frost Tower, a 460,000-square-foot, Class A office property on Houston Street in downtown San Antonio. The 23-story building will consist of 430,000 square feet of office space, a 400,000-square-foot wraparound parking facility, 20,000 square feet of ground-floor retail space and 10,000 square feet of tenant amenity space, which includes a lounge and a fitness center. Clark Construction Group LLC is the general contractor for the project, which is slated for a 2019 completion.

March 30, 2017

Mixed-Use Texas

Berkshire Hathaway Affiliate Breaks Ground on 100-Acre Lifestyle Center in The Colony, Texas

by Taylor Williams March 30, 2017

THE COLONY, TEXAS — Nebraska Furniture Mart, a division of Berkshire Hathaway, has broken ground on a 100-acre lifestyle retail center that is part of Grandscape, a 433-acre, mixed-use development located along the Sam Rayburn Tollway in the Dallas-Fort Worth metro of The Colony. Upon completion, Grandscape will span 3.9 million square feet of retail, multifamily and hospitality space, with an outdoor amphitheater and a convention center. Two restaurants, Thirsty Lion Gastropub and Twigs Bistro & Martini Bar, have committed to locations at the property, with openings scheduled for 2018 and 2019, respectively.

March 30, 2017

Industrial Texas

CBRE Negotiates 159,785 SF Industrial Lease in North Houston

by Taylor Williams March 30, 2017

HOUSTON — CBRE has negotiated a 159,785-square-foot industrial lease on behalf of McLane Group International LP, a global logistics firm, at Interstate Commerce Center in north Houston. Located at 1902 Cypress Station Drive on Houston’s north side, the property consists of about 284,000 square feet of industrial space. Patrick Rollins of CBRE represented McLane Group in the transaction. Stream Realty represented the landlord, Hillwood Investment Properties.

March 30, 2017

Hospitality Texas

William Cole Cos. Completes Development of 176-Key Hotel Near Texas A&M University

by Taylor Williams March 30, 2017

BRYAN, TEXAS — William Cole Cos. has completed development of The Stella, a 176-key hotel in Bryan, a city near Texas A&M University in College Station. Located at 4100 Lake Atlas Drive, the property is part of ATLAS, a master-planned development approximately two miles from the school’s campus. Hotel amenities include suites with wraparound balconies, minibars in every room, 20,000 square feet of event and meeting space and an on-site restaurant. The hotel will open April 6.

March 30, 2017

Florida Hospitality Southeast

Hyatt to Open New Hotel Within Panorama Tower in Miami’s Brickell District

by John Nelson March 30, 2017

MIAMI— An affiliate of Hyatt Hotels Corp. has entered into a franchise agreement with Concord Aztec Brickell LLC for Hyatt Centric Brickell Miami, a 208-room hotel that will be situated within the 83-story Panorama Tower in Miami’s Brickell district. Located at 1101 Brickell Ave., Hyatt Centric Brickell Miami will feature a second-floor restaurant and bar, full-service spa, fitness center, swimming pool and 4,000 square feet of meeting and event space. Concord Aztec Brickell LLC is a joint venture between Aztec Group and Concord Hospitality, which will manage the hotel. Hyatt Centric Brickell Miami is expected to open in the third quarter of this year. When completed, the mixed-use Panorama Tower will be the tallest building in Miami and the largest residential building south of New York. The first two floors of Panorama Tower will include more than 50,000 square feet of retail and restaurant space.

March 30, 2017

Newer Posts

Older Posts