development1

Hudson Square Properties Breaks Ground on 270,000 SF Spec Office Project in Manhattan

by Taylor Williams July 23, 2021

NEW YORK CITY — Hudson Square Properties, a joint venture between Trinity Church Wall Street, Norges Bank Investment Management and Hines, has broken ground on 555 Greenwich, a 270,000-square-foot speculative office project in Manhattan’s Hudson Square neighborhood. COOKFOX Architects is designing the 16-story building, and AECOM Tishman is the general contractor. CBRE is the leasing agent. Completion of the project, which according to the development team is the first spec office building to be developed in New York City in the wake of the pandemic, is slated for the fourth quarter of 2022.

July 23, 2021

Civic Development Texas

AP Construction Breaks Ground on 150,000 SF Recreation Center in Allen, Texas

by Taylor Williams July 22, 2021

ALLEN, TEXAS — Adolfson & Peterson Construction (AP Construction) has broken ground on the Stephen G. Terrell Recreation Center, a 150,000-square-foot facility in the northeastern Dallas suburb of Allen. The center will house two gyms, an indoor jogging track, weight room, group fitness areas, children’s play areas and a catering kitchen. On June 8, the Allen City Council approved $40.4 million in public financing to begin construction of the project, which is slated for an early 2023 completion. Denver-based Barker Rinker Seacat Architecture is designing the project.

July 22, 2021

Development New Jersey Northeast Office

Columbia Completes Phase I of Redevelopment of 680,000 SF Office Building in Jersey City

by Taylor Williams July 22, 2021

JERSEY CITY, N.J. — Columbia Property Trust (NYSE: CXP) has completed Phase I of the redevelopment of 95 Columbus, a 680,000-square-foot office building in the Grove Street neighborhood of Jersey City. Global architecture firm Spector Group is leading design of the project, the first phase of which centered on the renovation of the lobby. The next phase of the redevelopment will involve the creation of a lounge area, as well as the enhancement of utility and elevator systems. Columbia is also constructing a bike storage room, bathrooms and shower facilities. Cushman & Wakefield has been tapped to lease the building following the completion of the redevelopment, which is slated for the this fall.

July 22, 2021

Development Multifamily North Carolina Office Retail Southeast

Dominion Realty, New York Life Open 29-Story FNB Tower in Uptown Charlotte

by Julia Sanders July 22, 2021

CHARLOTTE, N.C. — Dominion Realty Partners and New York Life Real Estate Investors has opened the FNB Tower, a 29-story office, retail and residential development at 401 S. Graham St. in Uptown Charlotte. FNB Corp., the corporate parent company of Pittsburgh-based First National Bank, signed a long-term commitment to become the tower’s anchor office tenant. New York Life Real Estate Investors, a subsidiary of New York Life Insurance Co., is the equity partner in the development. The developers broke ground on FNB Tower in January 2019 and have designed the tower to achieve both LEED certification and Three Green Globes. The tower is Uptown Charlotte’s newest and only green-certified, vertically integrated mixed-use development and is only the second dually certified mixed-use tower in the region, according to Dominion Realty Partners. FNB Tower is situated directly between Truist Field and Bank of America Stadium, home of the Charlotte Knights and Carolina Panthers, respectively. FNB Tower is a 420,000-square-foot building that includes 156,000 square feet of Class A office space with ground floor retail. The property also houses The Reid, which comprises 196 high-rise apartments that sit atop an eight-level parking deck. Community amenities include a pool and amenity sky deck and …

July 22, 2021

Development Michigan Midwest Multifamily

Lutz Real Estate, Northern Equities Complete $70M Conversion of Detroit’s Albert Kahn Building into Apartments

by Kristin Harlow July 22, 2021

DETROIT — Lutz Real Estate Investments and Northern Equities Group have completed the $70 million conversion of The Albert Kahn Building in Detroit into a multifamily property named The Kahn Apartments. The 11-story, 320,000-square-foot office building was constructed by The Fisher Brothers and designed by famed architect Albert Kahn. It first opened its doors in 1931 and later became listed on the National Register of Historic Places. The building was home to Kahn’s architectural firm for 90 years and once housed Saks Fifth Avenue on the first floor. The building now features 206 apartment units ranging in size from 530 to 1,317 square feet. The penthouse units include interior stairwells. Kraemer Design Group designed the interiors and paid homage to the building’s Art Deco architecture. Amenities include a workspace area and library as well as a media room with large screen TVs. There is also a pet spa, 3,000-square-foot fitness center and outdoor rooftop deck. Farmington Hills-based Beztak will serve as property manager. Monthly rents start at $1,535. The Fisher Brothers built carriage bodies for emerging automobile manufacturers in the early 1900s. General Motors purchased their company in 1926. The brothers resigned from GM in 1944 to devote their …

July 22, 2021

Tropical-Speedway-Commerce-Center-North-Las-Vegas-NV

Development Industrial Nevada Western

Harsch Investment Completes 150,000 SF Tropical Speedway Commerce Center in North Las Vegas

by Amy Works July 21, 2021

NORTH LAS VEGAS, NEV. — Harsch Investment has completed Tropical Speedway Commerce Center in North Las Vegas. Located at 6150 Tropical Parkway, the property offers 150,000 square feet of light industrial space. The facility features dock and grade loading, 28- to 32-foot clear heights, 130-foot truck court and a parking ratio of 1.46:1,000. Current tenants at the building include Foundation Building Materials, Moroccan Oil, Kemco West and Amsoil. This fall, Harsch is set to break ground on the 155,000-square-foot Tropical Speedway Commerce Center 2. The third phase of the project, Tropical Speedway Commerce Center 3, will add two shell buildings totaling 732,160 square feet.

July 21, 2021

Development District of Columbia Hospitality Southeast

Joint Venture to Develop Hilton Hotel in D.C. as Part of 830,000 SF Mixed-Use Project

by Julia Sanders July 21, 2021

WASHINGTON, D.C. — Trammell Crow Co., High Street Residential and MetLife Investment Management have plans to develop a 203-room hotel in Washington, D.C., called The Morrow at Central Armature Works. The joint venture plans to partner with Hilton Worldwide Holdings Inc. on the hotel, which will be part of the Central Armature Works development, a 830,000-square-foot mixed-use development that broke ground in 2019. The Morrow at Central Armature Works is slated for completion during the second quarter of 2022. The hotel will have over 6,000 square feet of event space, a 5,000-square-foot outdoor event terrace, 15,000 square feet of indoor and outdoor food and beverage space and a rooftop lounge. Upon completion, Central Armature Works will feature three towers including two residential towers with 640 apartments and a separate tower for the Morrow hotel, located atop a 60,200-square-foot retail podium on the corner of Third and M streets. The project is located directly next to the NoMa/Galludet Metro station. Shalom Baranes Associates is the project’s architect, and Clark Construction is the general contractor. The developers plan for Central Armature Works to achieve LEED Silver certification.

July 21, 2021

Development Multifamily Texas

Encore Multifamily to Develop 386-Unit Project in San Antonio’s Pearl District

by Taylor Williams July 21, 2021

SAN ANTONIO — Dallas-based Encore Multifamily, a division of Encore Enterprises, will develop Encore Lower Broadway, a 386-unit project on a 4.2-acre site at the corner of East Grayson and North Alamo streets in San Antonio’s Pearl District. Units will feature one- and two-bedroom floor plans with an average size of 836 square feet. Amenities will include a pool, rooftop deck, dog park, fitness center, a clubhouse with an entertainment kitchen, coffee bar, media lounge, business center with a conference room, communal workspaces and a 24-hour package delivery system. Cody Kirkpatrick, Noam Franklin and Chinmay Bhatt of Berkadia arranged $15.7 million in equity for the project, and Citizens Bank provided a $51 million construction loan. The groundbreaking is scheduled for August. Completion is slated for December 2023.

July 21, 2021

Development Industrial Midwest Ohio

Pizzuti Underway on Two Spec Industrial Buildings in Columbus, Ohio

by Kristin Harlow July 21, 2021

COLUMBUS, OHIO — The Pizzuti Cos. is underway on the development of two speculative industrial buildings within Global Court Logistics Center, which is located in the Rickenbacker submarket of Columbus. Global Court I will span 158,700 square feet while Global Court II will total 196,400 square feet. Both buildings will feature a clear height of 32 feet and LED lighting. Completion is slated for this December. CBRE and Pizzuti will provide leasing services. Since 1998, Pizzuti has developed more than 12 million square feet of industrial space in the Rickenbacker submarket.

July 21, 2021

Development Industrial Northeast Pennsylvania

River Pointe Logistics, CBRE Reveal Updated Plans for 725-Acre Lehigh Valley Industrial Project

by Taylor Williams July 21, 2021

UPPER MOUNT BETHEL, PA. — Developer River Pointe Logistics and CBRE have revealed updated plans for River Pointe Commerce Park, a 725-acre industrial project located in the Lehigh Valley city of Upper Mount Bethel. The development, which is located 1.5 miles from Interstate 80, will now consist of 15 buildings totaling approximately 6 million square feet. The first, 420,000-square-foot building is expected to deliver in 2022 and will feature a clear height of 45 feet, 42 docks and two drive-in doors. Jake Terkanian and Sean Bleiler of CBRE are the leasing agents for the project.

July 21, 2021

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