WASHINGTON, D.C. — First-time unemployment claims for the week ending Sept. 5 reached 884,000, the U.S. Department of Labor reported Thursday morning. For the week ending Aug. 29, unemployment claims totaled 881,000. Economists surveyed by Dow Jones expected the weekly total to come in at 850,000, reflecting a downward trend from the previous week. The two previous weeks mark the first time since mid-March that unemployment claims have been fewer than 1 million in back-to-back weeks. Continuing claims — for which data is a week behind — ticked up to 13.8 million for the week ending Sept. 3, 93,000 higher than the week ending Aug. 29.
ORLANDO, FLA. — A partnership between Landmark Properties and W5 Group LLC has broken ground on The Retreat East, a 602-bed student housing community that will serve student at the University of Central Florida (UCF) in Orlando. The cottage-style community will comprise 138 units that are expected to open in August 2021. Communal amenities will include a pool, poolside jumbotron, golf simulator, clubhouse, study lounge and a fitness center. Athens, Ga.-based Landmark will manage the property upon completion. The Retreat at Orlando will be situated at 12151 E. Colonial Drive, two miles south of UCF’s campus and 13 miles east of downtown Orlando. Miami Beach, Fla.-based W5 Group entered into the partnership through its new student housing investment initiative.
DOUGLASVILLE, GA. — Cushman & Wakefield has arranged $46.9 million in construction financing for Sweetwater Vista, a planned 300-unit multifamily complex in Douglasville. The borrower, Vista Realty Partners, is developing the property to include nine three- and four-story buildings. The asset will be situated on Riverside Parkway, 15 miles west of downtown Atlanta. Communal amenities will include a fitness center, pool, clubhouse, grilling area and a resident lounge. Michael Ryan, Brian Linnihan, Richard Henry and Blake Cohen of Cushman & Wakefield arranged preferred equity through Nationwide Insurance Co. and senior financing through Synovus Bank. Flournoy Construction is the general contractor, and Niles Bolton Associates is the architect. Vista Realty Partners expects to open the community in late 2021.
WASHINGTON, D.C. — CommonGrounds Workplace has opened two new coworking spaces in Washington, D.C., totaling 73,692 square feet. The first office location spans 29,509 square feet and occupies the entire second floor of 1500 K St. NW. The office building is one block north of The White House and less than one block from McPherson Station. The other location spans 44,183 square feet within a newly built, 11-story office building at 99 M St. E. CommonGrounds occupies the entirety of the eighth and ninth floors of the asset, which is located in D.C.’s Navy Yards district. The property is located four miles southeast of downtown D.C. and less than one mile from Nationals Park, home of MLB’s Washington Nationals. BBGM was the architect for both locations.
STONE MOUNTAIN, GA. — Atlanta-based Seefried Industrial Properties has delivered a 640,000-square-foot industrial facility in Stone Mountain. Developed on a build-to-suit basis for Amazon, the four-story distribution center stands 70 feet tall and features Amazon Robotics technology. The property is situated at 2255 W. Park Place Blvd., 19 miles northeast of downtown Atlanta. The Seattle-based e-commerce giant expects to house 1,000 employees at the site. The Conlan Co. was the general contractor, Eberly & Associates was the civil engineer and Macgregor Associates was the architect. Seefried has now built more than 35 industrial facilities for Amazon, including Georgia facilities in Macon and near Augusta.
RESTON, VA. — EYA Development LLC has broken ground on The Townhomes at Reston Station in Reston. The project will comprise 300 apartment units, 20,000 square feet of retail space and 115 townhomes available for purchase. The development spans nine acres and will be delivered in two phases, with Phase I scheduled to deliver in early 2021. The site is located at 1860 Michael Faraday Drive, two blocks from the Wiehle-Reston East Metro Station on the Silver Line and 21 miles west of downtown Washington, D.C. Scott Kasprowicz sold the land to the Bethesda, Md.-based developer.
SHEPHERDSVILLE, KY. — Clermont Distillery Inc. will open a new bourbon distillery in Shepherdsville. The property will span 55 acres on both sides of Interstate 65, though the distillery will only occupy about 15 acres. The developers, cousins Lee Wilburn and William “Bill” LaRue Weller, are exploring joint venture opportunities to develop hotels and other attractions on the remaining 40 acres. The developers expect to break ground in spring 2021. Kentucky Business Investment (KBI) and Kentucky Enterprise Initiative Act (KEIA) approved tax incentives for the project, which is expected to house 22 full-time employees earning an average wage of $56 per hour. The site is situated near the Clermont/Bardstown exit off I-65, 25 miles south of downtown Louisville. The project will also feature a gift shop and tasting room.
KNIGHTDALE, N.C. — CBRE|Raleigh has arranged a 103,920-square-foot industrial lease for Highland Cabinetry Inc. within Eastgate 540 industrial park in Knightdale. The cabinet supplier will occupy space within Building 2, situated at 365 Spectrum Drive, nine miles east of downtown Raleigh. Other tenants at the 968,000-square-foot park include All American Relocation, CHEP USA, Eby-Brown, Francini Inc. and Trade Venture Stones. Austin Nagy of CBRE|Raleigh represented the tenant in the transaction. Foundry Commercial represented the landlord, Trinity Capital Advisors.
ATLANTA — John Calvin “Jack” Portman III, chairman and CEO of Atlanta-based Portman Architects, has died at age 71 due to natural causes. Portman is the son of famous Atlanta architect John Calvin Portman Jr. Portman III started at then-John Portman & Associates in 1973. Portman III took over leadership of Portman Architects following the death of his father in 2017. Portman III earned a Bachelor of Architecture from Georgia Tech and a Master of Architecture from Harvard University’s Graduate School of Design. He is survived by his five children; his mother, Jan Portman; four siblings; and five grandchildren. Currently, Portman Architects has six ongoing projects in Midtown Atlanta, Near Hartsfield-Jackson Atlanta International Airport and in Salt Lake City.
MIAMI BEACH, FLA. — The Historic Preservation Board (HPB) of the City of Miami Beach has approved the three-acre master plan for the redevelopment of the historic Raleigh, South Seas and Richmond hotels. Real estate owner and developer Michael Shvo plans to fully restore the three properties and unify them as one site to be operated as a luxury hotel and condominium building. Project costs are estimated at $750 million. The approved plan also includes construction of a new 175-foot oceanfront residential tower behind the Richmond and South Seas. The developer agreed to trim the height from 200 feet, according to the Miami Herald. No further approvals are needed and construction is expected to begin within the year. Shvo will restore the Raleigh Hotel and its iconic pool as well as the historic frontage of the Richmond and South Seas to their original 1941 grandeur. Legendary architect L. Murray Dixon was the original designer. The pool was used in several movies, including The Birdcage, Bad Boys and Up Close and Personal. Shvo and his team worked with HPB and Miami Beach stakeholders to ensure that the proposed plans would maintain the buildings’ original facades. This includes the removal of the penthouse floor that …