development1

Journal-Square-Urby-Jersey-City

JERSEY CITY, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has topped out a 25-story apartment tower in Jersey City. Rising 265 feet, Journal Square Urby will total 317 units in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center with a yoga studio, rooftop garden, outdoor grilling and dining areas, a lobby café and a dog park. Dutch architecture firm Concrete and New York City-based HLW designed the project, which is slated for full completion in spring 2024.

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Agile-Cold-Claymont

CLAYMONT, DEL. — Georgia-based owner-operator Agile Cold Storage will open a 275,000-square-foot facility in Claymont, Del., about 25 miles southwest of Philadelphia. The site is located within First State Crossing, an industrial park that is a redevelopment of a former steel mill. Agile Cold Claymont is expected to create 130 new jobs and involve capital investment of more than $170 million over the next five years.

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Doerr-Lane-Logistics-Center-Schertz

SCHERTZ, TEXAS — Atlanta-based developer Ackerman & Co., in partnership with Baltisse US Inc., has completed Doerr Lane Logistics Center, a 307,000-square-foot industrial project in Schertz, a northeastern suburb of San Antonio. The Class A, tilt-wall distribution center features 32-foot clear heights, 78 overhead dock doors, an ESFR sprinkler system and parking for 318 automobiles and 96 trailers. Beaty Palmer Architects designed the project, and Kopplow Construction served as the general contractor. Partners Real Estate is the leasing agent.

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I-76-Trade-Center-Philadelphia

PHILADELPHIA — Atlanta-based developer Portman has acquired 169 acres in West Philadelphia for the construction of I-76 Trade Center, an industrial park that will ultimately total approximately 1.9 million square feet. To be developed in two phases, I-76 Trade Center will be a three-building campus, with vertical construction of Phase I scheduled to begin in the fall. Phase I will feature a 636,120-square-foot building that is slated for an August 2024 delivery. Phase II will include a 1.1 million square-foot-facility and a 154,440-square-foot building. Portman expects to have substantially completed the project by the first quarter of 2025.

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14/35-Belton-Crossing

BELTON, TEXAS — Dallas-based developer Tradition Holdings has broken ground on 14/35 Belton Crossing, a 343,371-square-foot industrial project in Belton, located outside of Temple in Central Texas. The development will consist of four buildings ranging in size from 70,000 to 115,000 square feet on a 27.5-acre site. Building features will include 32- to 36-foot clear heights, 180-foot truck court depths and parking for 74 trailers and roughly 400 cars. KBC Advisors will market the project for lease. Powers Brown Architecture is designing the project, and ARCO/Murray is the general contractor. Completion is slated for the second quarter of 2024.

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River-Pointe-Logistics-Center-Lehigh-Valley

UPPER MOUNT BETHEL, PA. — Developer River Pointe Logistics has provided updated plans for River Pointe Commerce Park, an industrial project located in the Lehigh Valley city of Upper Mount Bethel. The development team has received conditional preliminary approval for subdivision, infrastructure improvements and land development plans for three lots within the 800-acre site. River Pointe now expects to break ground on the initial phase of construction, which will center around a 375,000-square-foot building, in the fourth quarter. To date, River Pointe has invested over $8 million in design, engineering, geotechnical, and impact analysis, including traffic, environmental and economic analysis.

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247-North-Ave.-New-Rochelle

NEW ROCHELLE, N.Y. — Locally based developer LCOR is underway on construction of a  307-unit apartment building at 247 North Ave. in New Rochelle, located north of New York City. The 28-story development will include 18,000 square feet of commercial space and offer studio, one- and two-bedroom apartments. Roughly 10 percent (31) of the units will be reserved as affordable housing for renters earning 80 percent or less of the area median income. Bob Tonnessen and Steven Klein of JLL arranged $94 million in construction financing through Pacific Life for the project. Completion is slated for mid-2025.

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Whisper-35-San-Marcos

SAN MARCOS, TEXAS — South Carolina-based developer Greystar has broken ground on a 314,938-square-foot industrial project in San Marcos, located roughly midway between Austin and San Antonio. The three-building project represents Phase II of Whisper 35, a five-building, 494,926-square-foot development. Completion of Phase II is slated for early 2024. Sam Owen and Adam Green of Stream Realty Partners, the leasing agents for Whisper 35, also recently secured a lease with logistics company Manifest Commerce to bring Phase I to full occupancy.

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Expressway-Commerce-Center

YORK, PA. — A partnership between Los Angeles-based PCCP LLC and MRP Industrial has broken ground on Expressway Commerce Center, a 674,000-square-foot speculative project that will be located west of Philadelphia in York. The development will consist of a 271,000 and 403,000-square-foot building, both of which will have rear-load configurations, 36-foot clear heights and combined parking for 563 cars and 175 trailers. Construction is slated for a third-quarter 2024 completion.

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Mount-Pocono-Commerce-Center

MOUNT POCONO, PA. — Newland Capital Group will develop Mount Pocono Commerce Center, a 1.2 million-square-foot industrial project that will be located roughly midway between Scranton and Allentown in eastern Pennsylvania. The project is a build-to-suit for an undisclosed third-party logistics group and will feature a clear height of 40 feet, 196 loading docks, four drive-in doors, 384 trailer stalls and 200-foot truck court depths. David Pelaia and Chad Morgan of JLL arranged a senior construction loan through Axos Bank and mezzanine financing from Fidelity Investments, as well as joint venture equity from an undisclosed partner, for the project. A tentative completion date was not disclosed.

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