development1

Contour-Apache-Southern-Ave-Rds-Buckeye-AZ

Contour Real Estate Buys 77-Acre Industrial Development Site in Buckeye, Arizona

by Amy Works January 17, 2022

BUCKEYE, ARIZ. — An entity controlled by Contour Real Estate has acquired an approximately 77-acre industrial site at the southeast corner of Apache and Southern Avenue roads in Buckeye. The Napolitano Family sold the property, which is adjacent to the Cardinal Glass and Walmart distribution facilities, for $14.5 million. Contour plans to develop a 1.2 million-square-foot, Class A, cross-dock facility targeting e-commerce and logistics tenants in needs of a regional distribution hub. Ware Malcomb is serving as architect and civil engineer for the project. Paul Borgesen and Dylan Sproul of SVN Desert Commercial Advisors represented the buyer in the deal. Marc Hertzberg of JLL’s Phoenix office will handle leasing for the completed facility.

January 17, 2022

Development Office Texas

Billingsley Underway on 260,000 SF Headquarters, Showroom Project for At Home in Dallas

by Taylor Williams January 17, 2022

DALLAS — Locally based developer Billingsley Co. is underway on construction of a new, 260,000-square-foot headquarters campus in Dallas for home improvement retailer At Home. The property will be located within Billingsley’s Cypress Waters development and will consist of 182,000 square feet of office space and a 78,000-square-foot design center. Amenities will include training rooms, wellness facilities, coworking spaces and a barista bar. Architecture firms GFF and Corgan designed the project. Completion is slated for December. At Home, which is currently headquartered in Plano, employs a corporate staff of about 400 in Dallas and plans to expand to over 1,000 over the next 10 years. The retailer operates about 230 stores across 40 states.

January 17, 2022

Affordable Housing Development Illinois Midwest Multifamily

Habitat Co., P3 Markets Break Ground on $100M Mixed-Income Community in Chicago

by Kristin Harlow January 17, 2022

CHICAGO — The Habitat Co. and P3 Markets have broken ground on 43 Green, a $100 million mixed-income apartment community in Chicago’s Bronzeville neighborhood. The transit-oriented development will be located on a long-vacant, city-owned lot on the northeast corner of East 43rd Street and Calumet Avenue. Phase I will consist of a 10-story building with 99 units and 5,500 square feet of retail space. Half of the residences will be market-rate while the other half will be income-restricted to renters earning up to 60 percent of the area median income. Completion of Phase I is slated for February 2023. Later phases of 43 Green call for two more mixed-income buildings. All told, 43 Green will bring roughly 300 new units to the area. Bowa Construction and McHugh Construction are leading construction. Future retail tenants include Momentum Coffee and Super Cycle. Financing for 43 Green involved a multi-layered capital stack, including the use of the City of Chicago’s Low Income Housing Tax credit allocation, tax credit investor Richman Capital and HUD-insured debt provided by Fifth Third Bank.

January 17, 2022

Affordable Housing Development Iowa Midwest Multifamily

TWG Breaks Ground on $49M Mixed-Income Apartment Community in Cedar Rapids, Iowa

by Kristin Harlow January 14, 2022

CEDAR RAPIDS, IOWA — Developer TWG has broken ground on Annex on the Square, a $49 million mixed-income apartment community in downtown Cedar Rapids. The property will include 202 units for residents earning up to 60 percent of the area median income along with 22 market-rate units. TWG will serve as owner and general contractor. Amenities will include a pool, fitness room, business center, bike storage, gated garage and top-floor deck. The development will also include 1,219 square feet of retail space. Studio Architecture is the project architect. Jeremy Tipton of NAI Iowa Realty Commercial coordinated the land acquisition. Completion is slated for January 2024.

January 14, 2022

Development Illinois Midwest Multifamily

McHugh Construction Underway on Platform 4611 Apartment Project in Chicago

by Kristin Harlow January 13, 2022

CHICAGO — McHugh Construction has started building Platform 4611, a nine-story apartment building in Chicago’s Uptown neighborhood. The project includes 200 units and 9,000 square feet of ground-floor retail space. The developers are The John Buck Co. and Free Market Ventures. Pappageorge Haymes Partners is the architect. Levels two through eight will include a mix of studio, one- and two-bedroom units, while the top floor will include four three-bedroom penthouse units and a host of building amenities. Plans call for touchless entry, reservable office space on each floor, a fitness center and a rooftop amenity floor with coworking space and an outdoor terrace. Completion is slated for late 2022 or early 2023. The name Platform 4611 is a nod to the project’s transit-oriented nature. The Wilson Chicago Transit Authority (CTA) train station is located across the street.

January 13, 2022

Mountain-Creek-East-Logistics-Center-Dallas

Development Industrial Texas

Eider Creek, Crow Holdings Break Ground on 467,541 SF Spec Logistics Center in Dallas

by Taylor Williams January 13, 2022

DALLAS — A partnership between locally based development and investment firm Eider Creek Capital and a fund backed by Crow Holdings has broken ground on Mountain Creek East Logistics Center, a 467,541-square-foot speculative industrial project in southwest Dallas. Ricardo Quinones of Davidson Bogel Real Estate represented the development team in its acquisition of the four-parcel, 25-acre site on which the project will be developed. Completion is slated for August. CBRE has been tapped to lease the development.

January 13, 2022

Arizona Development Industrial Western

Opus Development Co. Acquires 18-Acre Site in Tempe for Spec Industrial Project

by Amy Works January 12, 2022

TEMPE, ARIZ. — Opus Development Co. has purchased an 18-acre development site at 1320 and 1330 W. Warner Road in Tempe. An undisclosed seller sold the asset for $9.3 million. Opus plans to develop a two-building, 197,000-square-foot speculative industrial project. Construction is slated to begin in first-quarter 2022. Brian Ackerman and Connor Clark of JLL Capital Markets represented the seller in the deal. Additionally, Opus has engaged JLL to handle leasing of the new property.

January 12, 2022

Development Mixed-Use Texas

Goldenrod to Develop Mixed-Use Project in Fort Worth’s West Seventh District

by Taylor Williams January 12, 2022

FORT WORTH, TEXAS — Nebraska-based investment and development firm Goldenrod Cos. will build a new mixed-use project in Fort Worth’s West Seventh District that will consist of 147 multifamily units, 99,400 square feet of office space and 11,600 square feet of retail and restaurant space. Known as The Van Zandt, the development will include the first speculative office project built in Fort Worth since 2017. Residential amenities will include a pool and a fitness center, as well as indoor and outdoor lounges and meeting areas. Construction is slated to begin during the first quarter. Stream Realty Partners has been tapped to lease the office space.

January 12, 2022

Development Industrial Midwest Nebraska

R&R Realty Group to Build 1.3 MSF Spec Industrial Park in Omaha’s Sarpy County

by Kristin Harlow January 12, 2022

OMAHA, NEB. — R&R Realty Group has unveiled plans to build R&R Commerce Park South, an industrial park that will eventually consist of six buildings totaling more than 1.3 million square feet. The speculative development will be located on the southeastern corner of 156th Street and Schram Road in Omaha’s Sarpy County. The first two buildings are slated for completion by the end of this year. Plans call for a 286,000-square-foot warehouse and a 151,840-square-foot warehouse. Iowa-based R&R has also built R&R Commerce Park, a four-building development in Omaha that broke ground in 2018.

January 12, 2022

Arizona Development Industrial Loans Western

Wharton Industrial, Madison Ventures Receive $224.1M Construction Loan for Industrial Park in Mesa, Arizona

by Amy Works January 11, 2022

MESA, ARIZ. — Wharton Industrial and Madison Ventures Plus have received $224.1 million in acquisition and construction financing for The HUB @ 202, a master-planned, 1.5-million-square-foot industrial park in Mesa. John Alascio, Dave Karson, Chris Moyer, Will Strong, Kirk Kuller, TJ Sullivan, Chuck Kohaut and Zachary Smolev of Cushman & Wakefield Capital Markets arranged the financing. Situated on 101 acres, The HUB @ 202 will feature 11 Class A buildings with 28-foot to 36-foot clear heights, ample truck and car parking, grade- and dock-high loading doors and functional divisibility with a variety of bay sizes. Construction is slated to begin in second-quarter 2022.

January 11, 2022

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