development1

DMG Investments Completes 486-Bed Student Housing Community Near University of South Carolina Upstate

by Alex Tostado August 3, 2020

SPARTANBURG, S.C. — DMG Investments has completed construction on Auden Upstate, a 486-bed student housing community located near the University of South Carolina Upstate campus in Spartanburg. The development — which consists of seven buildings totaling 94,000 square feet — offers two-, four- and five-bedroom, fully furnished units with bed-to-bath parity. Communal amenities at the property include a fitness center, basketball court, clubhouse, yoga studio, business center and a pool. The community features the company’s clean-living program, which was developed to provide best practices in response to the COVID-19 pandemic. Leasing for the property is currently underway with move-in scheduled to begin this month. USC Upstate will begin its fall semester Aug. 20. Students will have the option to attend in-person classes or attend virtual classes.

August 3, 2020

Development Illinois Midwest Office

Glenstar, Rubenstein Complete $20M Renovation of Continental Towers Office Property in Suburban Chicago

by Kristin Harlow August 3, 2020

ROLLING MEADOWS, ILL. — Glenstar and Rubenstein Partners have completed a $20 million renovation of Continental Towers in Rolling Meadows. Built between 1978 and 1982, the 910,000-square-foot office complex is located at 1701 Golf Road. The three-building property sits on 34 acres and is home to tenants such as Verizon and Panasonic. The main portion of the modernization project was a one-acre outdoor space, which now houses flexible seating, gathering areas, fire pits and grills. Additional improvements were made to the lobbies, elevator cabs, common areas and tenant lounge. Michael Klein, co-founder and managing principal of Glenstar, says the owners have a robust program in place to address today’s safety and social distancing concerns. “Our new amenities, especially our sprawling outdoor areas, provide tenants the opportunity to work outdoors and meet with their colleagues at a safe distance.” In 2015, Glenstar invested $30 million in the construction of a parking garage, reconfigured site plan and renovation of a 23,000-square-foot fitness center run by Midtown Fitness. Glenstar originally acquired Continental Towers in 2013 and recapitalized the property in 2018 with the help of Rubenstein Partners, which is a fund manager for a series of private equity funds focused on office investments …

August 3, 2020

California Civic Development Western

C.W. Driver Breaks Ground on $48.2M Academic Building at Long Beach City College in California

by Amy Works August 3, 2020

LONG BEACH, CALIF. — C.W. Driver Cos., as general contractor, has broken ground on a multi-disciplinary facility located at Long Beach City College’s Liberal Arts Campus in Long Beach. The $48.2 million property is the first design-build project at the school funded by the state of California and will house a variety of academic programs, including language arts, career technology education, computer studies, office studies, student success center and support programs. The project includes the demolition of two existing classroom buildings, as well as all associated utilities, hardscape, irrigation and landscaping. Originally two 1960s concrete frame buildings, the new three-story, 96,000-square-foot facility will be constructed as a single steel-frame structure complete with classroom, study and administrative spaces. Key areas will include a lecture hall, reading and writing focus areas and breakout rooms. Additionally, the project will be built around existing community courtyards where students can connect, study and socialize. Designed HPI Architecture to obtain LEED Gold certification, the project is slated for completion in November 2021.

August 3, 2020

Development Industrial Texas

VanTrust Breaks Ground on 1 MSF DalParc Logistics Center in South Dallas

by Taylor Williams July 31, 2020

DALLAS — VanTrust Real Estate has broken ground on DalParc Logistics Center, a 1 million-square-foot industrial building that will be developed on a speculative basis in South Dallas. DalParc Logistics Center will be situated within a 200-acre logistics park that is anchored by Amazon and L’Oreal. Project partners include Alliance Architects, MYCON General Contractors and civil engineer Kimley-Horn. CBRE is handling leasing of the development, which is expected to be complete in July 2021.

July 31, 2020

Development Georgia Industrial Southeast

Scannell Properties Breaks Ground on Phase II of Logistics Park in Metro Atlanta

by Alex Tostado July 31, 2020

LOCUST GROVE, GA. — Scannell Properties has broken ground on Phase II of Gardner Logistics Park. The second phase will comprise three buildings totaling 1.1 million square feet. One of the buildings is a build-to-suit for an undisclosed tenant. Gardner Logistics Park is situated at 3150 Ga. Highway 42, 29 miles southeast of Hartsfield-Jackson Atlanta International Airport and one mile from Interstate 75. Phase I comprises two buildings totaling 1.7 million square feet. Building I is fully leased to an undisclosed tenant and is expandable up to 318,334 square feet. James Phillpott, Lisa Pittman and Helen Cauthen of Cushman & Wakefield oversee leasing for the park.

July 31, 2020

Development Mixed-Use Multifamily Nevada Retail Western

TRU Development, MultiGreen Properties to Build 336-Unit Apartment Community Near Las Vegas

by Amy Works July 31, 2020

HENDERSON, NEV. — TRU Development, in partnership with capital partner and real estate operating company MultiGreen Properties, has acquired a 19-acre land parcel at the southeast corner of Galleria Drive and Boulder Highway in Henderson. Terms of the acquisition were not released. The partnership plans to develop theAPEX @galleria, a 336-unit apartment community with 3.8 acres of retail development available for sale, ground lease or build to suit. Apartments will be available for lease in March 2021. The Henderson development is the first of many planned theAPEX-branded communities throughout Nevada. In the next 12 months, TRU is slated to break ground on a total of 670 units under theAPEX brand in southern Nevada, 358 units under the KAKTUSlife brand and more than 600 units under theAPEX brand in northern Nevada.

July 31, 2020

Development Midwest Minnesota Multifamily

175-Unit Luxury Apartment Community, The Asher, to Open in Minneapolis This Fall

by Kristin Harlow July 30, 2020

MINNEAPOLIS — The Asher, a 175-unit luxury apartment community in Minneapolis, is slated to open in October. Situated at 1125 Lagoon Ave., the property will offer studio, one- and two-bedroom units. Amenities will include a pool, rooftop deck, fitness center, clubroom, bike lounge and coworking stations. Reuter Walton Development and Northwestern Mutual are the project partners. Village Green will serve as property manager. Residents can currently earn two months of free rent on select apartments. Monthly rents start at $995.

July 30, 2020

Self-Storage-Village-Center-at-Rochelle-Park

Development Industrial New Jersey Northeast Self-Storage

Tulfra Begins Construction of 816-Unit Self-Storage Facility in Rochelle Park, New Jersey

by Taylor Williams July 30, 2020

ROCHELLE PARK, N.J. — Locally based development and management firm Tulfra Real Estate has begun construction of an 816-unit self-storage facility within Village Center at Rochelle Park, located northwest of New York City. The facility spans 113,000 gross square feet and is being constructed on a 1.4-acre site that formerly housed an AT&T data center. Mancini Duffy is designing the project, and The Lane Group is the general contractor. Completion is slated for the first quarter of next year.

July 30, 2020

Development Multifamily Southeast Tennessee

Dinerstein to Develop 360-Unit Multifamily Community in Nashville’s Gulch District

by Alex Tostado July 29, 2020

NASHVILLE, TENN. — The Dinerstein Cos. has begun construction on Aspire Gulch, a 10-story, 360-unit multifamily community in Nashville’s Gulch district. Communal amenities will include a rooftop pool, soundproof room for musicians and a 507-space parking deck. The property will offer one through three-bedroom floor plans. Aspire Gulch is situated at 805 Division St., one mile from downtown Nashville. The Houston-based developer expects to open the community in summer 2022. Hoar Construction is the general contractor, and Nile Bolton Associates is the architect.

July 29, 2020

Development Mixed-Use Texas

Gulf Coast Nears Completion of First Phase of 24-Acre Lower Heights Mixed-Use Project in Houston

by Taylor Williams July 29, 2020

HOUSTON — Gulf Coast Commercial Group is nearing completion of the initial phase of Lower Heights, a 24-acre mixed-use project located just west of downtown Houston. The project is being developed on an assemblage of former industrial sites fronting Interstate 10. The most recent addition to Lower Heights is a 35,000-square-foot office building with street-level retail space that has been preleased to Central Bank and coworking operator SheSpace. The development also features a 375-unit apartment community that is branded Alexan Lower Heights. Move-ins are underway at the five-story property, which offers studio, one- and two-bedroom units and Class A amenities. Lastly, Lower Heights includes a 37,000-square-foot retail block that houses Total Wine and Ulta Beauty. Future phases call for additional retail, office and multifamily uses.

July 29, 2020

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