development1

Local Developer Completes 629-Unit Apartment Community in Jersey City

by Taylor Williams February 25, 2022

JERSEY CITY, N.J. — A developer doing business as 400 Claremont LLC has completed 3 Acres, a 629-unit apartment community in Jersey City. Designed by Marchetto Higgins Stieve, the property offers micro studio, studio, one- and two-bedroom units with quartz countertops, stainless steel appliances and individual washers and dryers. Indoor amenities include a fitness center, saunas, conference room, work pods, demonstration kitchen, multi-sport simulator and screening room, resident lounge and a game room with a mini bowling alley. Outside, residents have access to a rooftop terrace with a pool, as well as a dog run and courtyards with dining stations, workout areas and games. The property is roughly 50 percent leased, and rents start at $1,575 per month for a one-bedroom unit.

February 25, 2022

Development Healthcare Midwest Wisconsin

Kraus-Anderson Set to Break Ground on New Hospital in Whitehall, Wisconsin

by Kristin Harlow February 25, 2022

WHITEHALL, WIS. — Kraus-Anderson will begin construction in March on Gundersen Tri-County Hospital, a new hospital for Gundersen Health System in Whitehall, a city in western Wisconsin. The new facility will replace the current 60-year-old hospital, which serves Whitehall, Blair, Independence and surrounding communities. Completion is slated for fall 2023. Designed by Groth Design Group, the two-story property will span 69,000 square feet and will feature private patient rooms, a trauma center and helipad landing zone. The hospital will offer an ER, imaging, lab, pharmacy, surgical, dietary, rehabilitation and transitional care. A new ambulance and maintenance building will also be constructed on the site.

February 25, 2022

Colorado Development Hospitality Western

Matthews Southwest Hospitality Unveils Plans for US Air Force Academy Hotel in Colorado Springs

by Amy Works February 25, 2022

COLORADO SPRINGS, COLO. — Matthews Southwest Hospitality (MSWH) has unveiled plans for a United States Air Force Academy Hotel in Colorado Springs. The development site is located at the U.S. Air Force Academy (USAFA) campus beneath Pikes Peak and the Rocky Mountains. The 317,000-square-foot resort-style hotel will feature 375 guest rooms with 19 suites; 26,000 square feet of meeting space and flexible banquet space with exterior terraces; a 12,000-square-foot grand ballroom and 6,000-square-foot junior ballroom; a signature rooftop bar and restaurant; six food and beverage outlets; fitness and spa facilities; an elevated pool; event lawn; and numerous outdoor spaces. The hotel will be part of TrueNorth Commons, a mixed-use development at the North Entrance of the U.S. Air Force Academy, which will include a USAFA visitor campus and commercial retail and office space. MSWH is developing the property with owner Provident Group – Falcon Properties. Atlanta-based BLUR Workshop is serving as architect and interior designer and GE Johnson will serve as general contractor. CoralTree Hospitality will manage the hotel. Construction is slated to begin this spring, with completion scheduled for 2024.

February 25, 2022

Development Industrial Texas

VanTrust Completes 514,135 SF Spec Industrial Development in El Paso, Signs Three Tenants

by Taylor Williams February 24, 2022

EL PASO, TEXAS — Kansas City-based developer VanTrust Real Estate has completed Phase I of El Paso Logistics Park, a speculative project that consisted of four industrial buildings totaling 514,135 square feet. VanTrust has also executed three new leases at these buildings totaling roughly 187,000 square feet. David Hingst of PIRES International represented OLA Logistics LLC, which leased 76,848 square feet at Building 3; Steve Berger and Chad McCleskey of CBRE represented Interceramic Inc., which inked a deal for 44,410 square feet at Building 3; and Andres Sandoval of CBRE represented Buckland Global Trade Services Inc, which committed to 66,065 square feet at Building 4. Bill Caparis and Arturo De La Mora of CBRE El Paso represented VanTrust in each of those deals.

February 24, 2022

Development Healthcare Illinois Midwest Office

Hearn to Convert Portion of Iconic Chicago Office Tower into Medical Space

by Kristin Harlow February 24, 2022

CHICAGO — The Hearn Co. has unveiled plans to convert four floors of 875 North Michigan Avenue in Chicago into clinical and surgical space named the Mag Mile Medical Pavilion. Hearn has selected Cushman & Wakefield to lease the building-within-a-building concept. Hearn plans to invest more than $10 million into converting floors 28 through 30 and 33, totaling 130,000 square feet, into medical office space. There will be a dedicated valet entrance, patient drop-off and pickup on the north side and a dedicated elevator bank. Completion is slated for the second quarter of this year. The 100-story property was formerly known as the John Hancock Center. Karoline Eigel, Matt Sullivan, Lindsey Groom and Jack Seher of Cushman & Wakefield make up the leasing team.

February 24, 2022

6700-E-Pacific-Coast-Highway-Long-Beach-CA

Acquisitions California Development Multifamily Office Western

Holland Partners Buys Congressional Place Office Building in Long Beach, Plans Multifamily Conversion

by Amy Works February 24, 2022

LONG BEACH, CALIF. — Holland Partners has purchased Congressional Place, a two-story office building in Long Beach. ValueRock Partners sold the asset for $41 million. Situated on 2.5 acres at 6700 E. Pacific Coast Highway, the 73,769-square-foot will be redeveloped into a multifamily property. Chris Benton, Anthony Muhlstein, Kevin Shannon, Bill Bauman, Ken White and Seal Fulp of Newmark represented the seller in the deal.

February 24, 2022

Development Georgia Multifamily Southeast

Alliance Residential Opens 300-Unit Apartment Community in Jefferson, Georgia

by Julia Sanders February 23, 2022

JEFFERSON, GA. — Alliance Residential Co. has opened Prose Concord, a 300-unit apartment community in Jefferson. Designed by architect Hensley Lamkin Rachel Inc., Prose Concord offers a mix of 159 one-bedroom and 141 two-bedroom apartments. Unit features include white shaker cabinets, granite countertops, kitchen islands and pantries, stainless steel appliances, chrome plumbing fixtures, wood plank-style flooring throughout and walk-in closets. Rents range from $1,190 for a one-bedroom unit to $1,495 for a two-bedroom unit. Community amenities include a clubroom lounge space and entertaining kitchen, coworking spaces, 24/7 fitness center, saltwater pool, grilling stations, outdoor dining areas, fully fenced pet park, a package system and ample parking. Located on nearly 75 acres at 575 Concord Road, Prose Concord is situated less than one mile from Interstate 85. The property is located close to several major employers including Amazon, Bed Bath & Beyond and Toyota.

February 23, 2022

Development Industrial Texas

Robinson Weeks Begins Construction on 410,102 SF Spec Industrial Project in South Dallas

by Taylor Williams February 23, 2022

DALLAS — Atlanta-based developer Robinson Weeks Partners has begun construction on I-20 Dallas Crossing, a 410,102-square-foot speculative industrial project in South Dallas. The cross-dock facility will be situated on a 30-acre site and will feature 36-foot clear heights, 78 dock doors, 224 parking spaces, 80 trailer storage spaces and office space. Completion is slated for the fourth quarter. Robinson Weeks has tapped JLL to market the property for lease.

February 23, 2022

Development Multifamily Texas

Thompson Realty, Trez Capital to Develop $50M Multifamily Project in San Marcos, Texas

by Taylor Williams February 23, 2022

SAN MARCOS, TEXAS — A joint venture between Thompson Realty Capital LLC and Trez Capital will develop La Cima, a $50 million multifamily project that will be located in the Central Texas city of San Marcos. The 304-unit project will feature two- and three-story buildings, an amenity center and a pool. An affiliate of Thompson Realty will manage the property upon completion, which is slated for December 2023. The announcement follows the joint venture’s start of development of Larkspur Liberty Hill, a 504-unit community in Austin.

February 23, 2022

Development Industrial Midwest Minnesota

Altoz to Expand Manufacturing Space in Red Lake Falls, Minnesota

by Kristin Harlow February 22, 2022

RED LAKE FALLS, MINN. — Altoz Inc. is expanding its manufacturing space in Red Lake Falls, a city in northwest Minnesota. The outdoor power equipment company will add a new 62,500-square-foot facility, which is slated for completion by this fall. The development marks the first phase of a multi-phase expansion project, which will bring the company’s combined space to more than 400,000 square feet between Red Lake Falls and Greenbush. The new facility will accommodate state-of-the-art metal fabrication equipment.

February 22, 2022

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