ADDISON, TEXAS — Kansas City-based VanTrust Real Estate LLC will develop Addison Station, a 12-story office building that will be located on the northern outskirts of Dallas. The transit-served building will span between 250,000 and 350,000 square feet and will feature an 8,000-square-foot rooftop amenity deck, an indoor/outdoor tenant lounge, fitness center and a conference center. Construction is scheduled to begin later this year. Colliers International is marketing the project for lease.
LENOX TOWNSHIP, MICH. — Healthcare real estate developer NexCore Group and Beaumont Health have opened a new outpatient campus in Macomb County’s Lenox Township, about 40 miles northeast of Detroit. Southfield-based Beaumont is the state’s largest health system. The building rises three stories and spans 109,630 square feet. The facility includes a digital directory, patient education center, lab, pharmacy, café and collaboration areas. NexCore entered into a long-term ground lease with Beaumont, which acquired the land. Dallas-based HKS Architects was the project architect and Sterling Heights, Mich.-based Roncelli served as general contractor.
DOUGLASVILLE, GA. — AHS Residential has obtained construction financing for AHS Tributary, a 433-unit mixed-use residential community located in Douglasville, a suburb approximately 20 miles west of Atlanta. PNC Bank provided the $46.5 million construction loan to AHS Residential, which broke ground on the project in late June. The community is slated for a first-quarter 2023 delivery. AHS Tributary will offer studio, one- and two-bedroom floor plans in seven five-story buildings. Apartments will feature stainless steel appliances and in-unit laundry. Community amenities include assigned parking, a business center and a multipurpose clubhouse featuring a swimming pool and fitness center. In addition, the community will feature a two-story, 22,000-square-foot commercial building with a 9,000-square-foot retail space on the first floor and 13 one-bedroom lofts available for lease on the second floor. The property will also include a 5,000-square-foot freestanding retail building.
ST. CHARLES, MO. — Contegra Construction will build a new 70,000-square-foot headquarters and manufacturing facility for Diode Dynamics in St. Charles, a northwest suburb of St. Louis. Situated within Fountain Lakes Commerce Center, the project will include a showroom, four drive-in engineering bays, a 14,000-square-foot manufacturing area, engineering laboratory, 37,000-square-foot warehouse and 16,000-square-foot office. Diode Dynamics is a designer, manufacturer and distributor of automotive lighting products. The company will move all of its existing employees from Earth City and plans to add 36 new positions over the next five years. Joining Contegra on the project team are Remiger Design, BAX Engineering and SSC Engineering. Bank of Franklin County provided project financing. Completion is slated for this fall.
CYPRESS, TEXAS — Venterra Realty has acquired a 12.8-acre site in the northwestern Houston suburb of Cypress for the development of a 336-unit multifamily community. Units will feature stainless steel appliances and shaker cabinets. Amenities will include an 8,600-square-foot clubhouse, a pool, fitness center, package lockers and a business center. A construction timeline for the project is still being finalized.
CHICAGO — Lendlease and Magellan Development Group have opened Cascade, a 37-story, 503-unit luxury apartment tower in Chicago’s Lakeshore East neighborhood. The opening coincides with the completion of Cascade Park, a nearly one-acre green space that is open to the public. Designed by bKL Architecture, Cascade offers studio to three-bedroom floor plans ranging from 509 to 1,332 square feet. Monthly rents start at $1,850. The development features more than 45,000 square feet of indoor and outdoor amenity space, including a 32nd-floor lakefront terrace that offers views of Navy Pier and Lake Michigan. Residents have access to a fitness center, strength studio, indoor pool, golf simulator, game room, children’s playroom, music room, outdoor pool, dog park and pet spa. Cascade residents who plan to transition into homeownership can take advantage of a unique program that enables them to sign a contract for a condo at Cirrus — the adjacent 47-story, 350-unit condominium tower that is scheduled to open this fall — while still leasing at Cascade. Half of the rent paid, up to 2.5 percent of the purchase price, can be recouped as a credit at closing.
HOLLY SPRINGS, N.C. — Crescent Communities will develop a life sciences project called The Yield in Holly Springs. The Charlotte-based developer expects to break ground on the first phase this fall, with the first building’s delivery expected in the summer of 2022. In the initial phase, Crescent Communities will develop three buildings focused on life sciences and biomanufacturing uses. The 25-acre site is located at the intersection of Green Oaks Parkway and Holly Springs New Hill Road, adjacent to Seqirus’ North American campus, the Holly Springs Business Park and the FUJIFILM Diosynth’s $2 billion cell culture production facility. Phase I will feature over 260,000 square feet of biomanufacturing, lab and office space. Two of the buildings will be constructed to meet Current Good Manufacturing Practice (cGMP) regulations, with each building offering approximately 105,000 square feet and the ability to accommodate single- or multi-tenant needs. The third building will be two stories of office and laboratory space designed to support the biomanufacturing buildings or demand from other office and life science users. Timmons Group, O’Brien Atkins Associates, Gilbane and the Town of Holly Springs are part of the project design team. Crescent Communities has worked with the Town of Holly Springs …
SAN ANTONIO — Texas-based developer Presidium has begun leasing Presidium Chase Hill, a 370-unit multifamily project in northwest San Antonio. Designed by REES Associates Inc., the community will be situated on a 17-acre site near La Cantera Resort & Spa, which USAA Real Estate recently sold. Units will feature stainless steel appliances, granite countertops and walk-in closets. Amenities will include a pool, outdoor kitchens with grilling areas, a playground, dog park, fitness center, media room, bar and an onsite car wash. Presidium expects to complete the project by next summer.
PARK RIDGE, N.J. — Claremont Development has opened The James, a 240-unit apartment complex in the Northern New Jersey community of Park Ridge that includes 17,600 square feet of retail space. Units come in studio, one- and two-bedroom floor plans and feature stainless steel appliances, quartz countertops, espresso cabinetry and tile backsplashes. Indoor amenities include a coffee bar, game room, catering kitchen, coworking spaces with private offices, fitness center and a yoga studio. Outside, residents have access to multiple gathering areas, including an outdoor pool, grilling and dining areas, fire pits, TV and lounge areas and a turf lawn. Rents start at $1,965 per month for a studio unit.
NORTH LAS VEGAS, NEV. — CapRock Partners has purchased a 10-parcel land assemblage totaling 20.7 acres in North Las Vegas for the development of CapRock Tropical Logistics Phase II, an industrial complex adjacent to CapRock Tropical Logistics. The land parcels were acquired from nine individual sellers. The total acquisition price was not released. Totaling 441,554 square feet, CapRock Tropical Logistics Phase II will feature three industrial buildings with 32-foot clear heights, large truck courts and approximately 362 parking stalls. Building 1 will offer 248,391 square feet and more than 300 linear feet of Interstate 15 frontage, 32 dock-high doors, a 185-foot truck court and 57 trailer stalls. The 101,825-square-foot Building 2 will feature 15 dock-high doors and 180 feet of shared truck courts, and the 91,338-square-foot Building 3 will offer 15 dock-high doors and 180 feet of shared truck courts. Development is underway and groundbreaking is planned for first-quarter 2022. Completion is slated for the fourth quarter of 2022. The adjacent CapRock Tropical Logistics park is a two-building, 1.1 million-square-foot industrial complex currently nearing completion. The first phase is 100 percent pre-leased and scheduled for completion in third-quarter 2021.
