development1

DivcoWest Breaks Ground on 375,000 SF Life Sciences Building at Cambridge Crossing

by Taylor Williams June 30, 2021

CAMBRIDGE, MASS. — Developer DivcoWest has broken ground on a 375,000-square-foot life sciences building at 441 Morgan St. within Cambridge Crossing, a 43-acre mixed-use development located at the junction of Cambridge, Boston and Somerville. Designed by Ennead Architects and Jacobs Consultants, the building will consist of 10 floors of lab space plus two penthouse floors and five outdoor terraces. DivcoWest expects to complete construction of the shell of the building in early 2023 and to subsequently begin interior build-outs of tenant spaces.

June 30, 2021

Acquisitions California Development Office Western

Kilroy Realty Buys Downtown San Diego Site for $42M, Plans 275,000 SF Office Development

by Amy Works June 29, 2021

SAN DIEGO — Kilroy Realty Corp. has acquired a 1.3-acre development site in downtown San Diego from Pacifica Cos. for $42 million. Kevin Nolen, Mike Novkov, Tim Winslow and Jason Kimmel of Cushman & Wakefield represented the seller in the transaction. Kilroy plans to develop up to 275,000 square feet of Class A office space on the full city-block site, which is located at 2045 Pacific Highway in San Diego’s Little Italy neighborhood. The site consists of four parcels within walking distance to numerous amenities and the San Diego Bay.

June 29, 2021

Development Industrial New York Northeast

Aeroterm to Open $145M Cargo Handling Facility at JFK Airport, Create 350 Jobs

by Taylor Williams June 29, 2021

NEW YORK CITY — Aeroterm, a provider of facility-related services to airports throughout North America, has signed a ground lease at JFK International Airport in Queens with plans to open a $145 million cargo handling facility. The project is expected to create about 350 new jobs. Aeroterm will develop the 26-acre facility in partnership with the Port Authority of New York and New Jersey and Worldwide Flight Services, the main cargo handler at JFK, as part of New York Gov. Andrew Cuomo’s JFK Vision Plan to redevelop the airport. Demolition of the existing facilities on the site is scheduled to begin in September, with project completion slated for the end of 2023.

June 29, 2021

Development Mixed-Use Texas

Weitzman Breaks Ground on Phase I of 273-Acre Mixed-Use Project in Manvel, Texas

by John Nelson June 28, 2021

MANVEL, TEXAS — Weitzman has broken ground on Phase I of Manvel Town Center, a 273-acre mixed-use project that will be located at the intersection of State Highways 288 and 6 in Manvel, a southern suburb of Houston. The centerpiece of the initial phase of construction is a 100,000-square-foot H-E-B grocery store that will include a fuel station and a car wash. The store is expected to open late next summer. All told, the development will consist of more than 1 million square feet of retail, entertainment, hospitality, medical and office space. In planning the project, Weitzman directed the development of key pieces of infrastructure, including a wastewater treatment plant, water plant, detention facilities, feeder road modifications and Kirby Drive, a new thoroughfare that borders the site.

June 28, 2021

Development Multifamily North Carolina Southeast

Hoar Construction Completes 33-Story Ellis Apartment High-Rise in Uptown Charlotte

by Julia Sanders June 28, 2021

CHARLOTTE, N.C. — Hoar Construction has completed The Ellis, a 33-story apartment community in Uptown Charlotte. The high-rise is part of a larger mixed-use development that encompasses a six-story multifamily building, approximately 19,000 square feet of retail space and a shared parking deck. Hoar served as general contractor and partnered with development firm LMC on the project. The Ellis contains 365 homes with 13 apartment homes on each floor and 23 penthouses occupying four of the highest floors. Community amenities include a heated saltwater pool and a fitness center on the 33rd level. Standing at 385 feet tall, The Ellis is one of the largest and tallest multifamily communities in the area, according to Hoar. Located at 512 North College St., The Ellis provides pedestrian access to Charlotte’s central business district and a direct path to the Lynx Light Rail and Charlotte Rail Trail. Construction on The Ellis began in February of 2019. First move-ins are planned for this summer. Other partners in the project include Ellinwood + Machado Structural Engineers, KTGY, Kimley Horn and Intec Group.

June 28, 2021

Development Indiana Industrial Midwest

Stonemont Breaks Ground on 500,000 SF Industrial Build-to-Suit in Bristol, Indiana

by Kristin Harlow June 28, 2021

BRISTOL, IND. — Stonemont Financial Group has broken ground on a 500,000-square-foot industrial build-to-suit for MJB Wood Group in northern Indiana’s Bristol. Headquartered in Dallas, MJB is a manufacturer and distributor of industrial wood products. The Bristol facility will service the manufacturer’s transportation division, which supplies specialty wood to recreation vehicle manufacturers in the surrounding area. The development lies on a 37-acre rail-served site and will include 374,320 square feet of warehouse space, a 108,000-square-foot manufacturing area and 10,000 square feet of office space. Stonemont will serve as the building landlord once construction is complete. Stonemont is partnering with ARCO Construction on the project, completion of which is slated for March 2022.

June 28, 2021

Development Multifamily Oregon Seniors Housing Western

Greystone Communities Plans $124.2M Expansion at Friendsview Seniors Housing Project in Newberg, Oregon

by Amy Works June 25, 2021

NEWBERG, ORE. — Greystone Communities plans to break ground July 8 on an expansion project at Friendsview, a continuing care retirement community (CCRC) in the Portland suburb of Newberg. Yamhill County Hospital Authority issued $124.2 million in bond financing, underwritten by Ziegler, for the project. The community was founded in 1961 and boasts affordable CCRC living, with average monthly fees of $2,500. The expansion will bring new amenities to current residents across three new components named Springbrook Meadows North, Sutton Terrace at University Village and Charles Beals Plaza. “Replacing the health center with new residential care units, while keeping the per diem rates in a similar range, was a large part of this puzzle,” says Stuart Jackson, senior vice president of client services at Greystone Communities. The new Springbrook Meadows North neighborhood will include 14 duplex buildings housing 28 entrance-fee independent living cottage units and an expansion to the community center. The cottages will be an average of 1,535 square feet and will range between $2,670 and $3,330 in monthly fees and between $386,000 and $555,000 in entrance fees. Sutton Terrace at University Village will be constructed on the main campus and will feature a new five-story building housing 96 …

June 25, 2021

Development Industrial South Carolina Southeast

Trinity Capital Advisors Begins Construction of 850,000 SF Industrial Park in Charleston

by Julia Sanders June 25, 2021

CHARLESTON, S.C. — Trinity Capital Advisors (TCA) has begun construction of Tradepark East at Palmetto Commerce Parkway, an 850,000-square-foot, Class A industrial development in Charleston. The project is slated to be completed in 2022. Tradepark East will include four buildings. Building One, the park’s largest building, will be cross-docked and will total 342,160 square feet with 36-foot clear heights. Buildings Two and Three will total 174,720 square feet each and Building Four will span 145,600 square feet. Frampton Construction is the general contractor for Tradepark East, DMA Architecture is the design firm and Reveer Group serves as the civil engineer. Trinity Capital Advisors is a commercial real estate development and investment firm based in Charlotte, N.C.

June 25, 2021

Development Office Texas

Jay Paul Co. to Develop 872,500 SF Springdale Green Office Complex in East Austin

by Taylor Williams June 25, 2021

AUSTIN, TEXAS — San Francisco-based development and investment firm Jay Paul Co. has announced plans to develop Springdale Green, an 872,500-square-foot office complex in East Austin. Designed by Gensler, the 30-acre property will comprise two six-story buildings and multiple outdoor areas, as well as an onsite parking garage. About two-thirds of the site (19 acres) has been preserved and restored with native meadows, woodlands and plantings, as well as an urban creek tributary. Amenities will include an 18,000-square-foot flexible conference space; 23,000-square-foot fitness and wellness center; jogging and nature trails; and basketball and volleyball courts. A firm construction timeline has not yet been established.

June 25, 2021

Development Multifamily New Jersey Northeast

Fisher Development Begins Leasing 452-Unit Apartment Building in Jersey City

by Taylor Williams June 25, 2021

JERSEY CITY, N.J. — Fisher Development Associates has begun leasing the second rental tower in The Vantage Collection, a 45-story apartment building in downtown Jersey City that houses 452 luxury units. Units come in studio, one- and two-bedroom formats and are furnished with stainless steel appliances, quartz countertops and in-home washers and dryers. Communal indoor amenities include a sky lounge, fitness center with a yoga studio, children’s playroom, business center, coworking lounge, game room, lobby a coffee bar and package locker systems. Outdoor amenities include two pools, a basketball court, lawn, fire pits, 12-station BBQ area, outdoor children’s play area, outdoor fitness area and a bar with a lounge and tiered seating. S9 Architecture designed The Vantage Collection, which consists of 900 apartments across two towers. The Bozzuto Group has been tapped as the leasing and management agent for the property. Rents were initially priced at more than $2,000 per month for a studio unit, but special grand opening incentives are available for a limited time.

June 25, 2021

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