WORCESTER, MASS. — Chinese biomanufacturing company WuXi Biologics will develop a $60 million office project in Worcester, approximately 45 miles west of Boston. The 107,000-square-foot building will anchor a 46-acre master-planned biomanufacturing campus called The Reactory, a 470,000-square-foot redevelopment of a site formerly occupied by Worcester State Hospital. Worcester Business Development Corp. (WBDC) sold the 7-acre parcel of land to WuXi for $1.5 million. Brian Cohen, Chris McCauley and Colin Coughlin of CBRE represented WuXi Biologics in the transaction. Jim Umphrey and Drew Higgins represented WBDC. WuXi expects the facility to be operable in 2020.
HOUSTON — Locally based firm Tema Development has begun renovating The Parklane, a 35-story residential tower located at 1701 Hermann Drive, just south of downtown Houston. Upon completion, the project will feature 195 residences that may be purchased or rented. Mirador Group is the architect, interior designer and landscape designer for the project. Construction of a new fitness center, amenity deck and lobby will begin in the fourth quarter, and completion of the entire project is slated for December 2021.
LAS VEGAS — MDC, a full-service real estate company, has completed the development of a freestanding industrial building located in Las Vegas’ Southwest submarket. Located at 4525 Wagon Trail within an opportunity zone, the 25,880-square-foot property features 2,500 square feet of office space, 28-foot minimum warehouse clear heights, four dock-high loading doors, two grade-level loading doors and potential outside storage. Xavier Wasiak, Jason Simon and Rob Lujan of JLL are marketing the building for lease or sale.
CHICAGO — Parkside Realty is addressing employee health, safety and wellness at Fulton East, a new 12-story, 90,000-square-foot office building nearing completion in Chicago’s Fulton Market. Slated to open this summer, the building features wellness technology such as a hands-free elevator system that utilizes foot-activated buttons to help reduce the spread of germs. In addition, Fulton East will utilize airPHX, which is currently used in hospitals and college athletic facilities and helps reduce bacteria and mold both on surfaces and in the air. Fulton East will have touch-free key fob access and touch-free sinks in bathrooms. Floor plates are designed for single-tenant use and each floor has its own private balcony. An 8,000-square-foot rooftop garden park will be available for exclusive use of building occupants. Clayco is the design-builder and Lamar Johnson Collaborative is the architect. Interior designer Holly Hunt designed the lobby.
FORT WORTH, TEXAS — Civitas Senior Living has completed construction of The Grandview of Chisholm Trail, a seniors housing community in southwest Fort Worth that features 66 assisted living units and 21 memory care residences. Partners on the project include co-developer Journey Capital, management company Civitas Senior Living, Arrive Architects, Ridgemont Commercial Construction and interior design firm Senior By Design.
JOHNSBURG, ILL. — Joseph J. Duffy Co. is set to begin the conversion of the former James C. Bush Elementary School into a 68-unit affordable seniors housing project in Johnsburg, about 60 miles northwest of Chicago. General Capital Group is the developer and Hooker DeJong Architects Inc. is the project architect. Oakbrook Corp. will manage the property, which is reserved for ages 55 and older. Duffy will convert the administration and gym areas of the existing, one-story school into 14 apartment units, resident support facilities and office space. The contractor will then add a three-story wing housing 54 units. Each apartment will include a full bath and kitchen. Amenities will feature a patio area, playground and walking paths.
IRVINE, CALIF. — City of Hope has acquired a 190,000-square-foot, four-story building and 11 acres of adjacent land in Irvine, located approximately 40 miles southeast of Los Angeles, for $108 million. The acquisition was part of the Duarte, California-based nonprofit medical organization’s plan to construct a $1 billion comprehensive cancer center on the site. Located at 15161 Alton Parkway, the project will offer diagnostic imaging, screenings, precision medicine, early detection, chemotherapy, surgery and other cancer treatments. In addition, a research center for clinical trials will be located in the building. The adjacent hospital, which City of Hope plans to construct, will focus exclusively on treating and curing cancer. The seller was Five Point Holdings LLC (NYSE: FPH), a California-based owner and developer of master-planned, mixed-use communities. The property is part of Five Point’s 1 million-square-foot FivePoint Gateway corporate campus currently under development in Orange County. In addition to office space, the four-building campus will offer access to retail, entertainment venues, restaurants and the Irvine Transportation Center. The cancer center and hospital will anchor what FivePoint and City of Hope believe will one day become a regional hub for a larger wellness campus in the heart of Irvine. “We are ‘all …
SOUTHLAKE, TEXAS — Holt Lunsford Commercial Investments has completed Southlake Business Park, a 182,000-square-foot industrial development located just north of DFW International Airport in Southlake. The property spans 12.6 acres and consists of three buildings with both front- and read-load configurations. Additional building features include 24- to 28-foot clear heights, 190-foot shared truck courts and a total of 244 automobile parking spaces. Holt Lunsford Commercial, the leasing arm of the developer, will market the property to users seeking anywhere from 13,000 to 100,000 square feet.
HONOLULU — Coastal Rim Properties has purchased a 12,842-square-foot land parcel in downtown Honolulu from an affiliate of Next Realty for an undisclosed price. The buyer plans to develop a 20-story affordable seniors housing tower on the property, which is located at 1192 Alakea St. The site currently houses a vacant parking lot. Steven Sofos of Sofos Realty Corp. represented the seller, while Matt David and Terry Jackson of Cushman & Wakefield’s Land Advisory Group in San Diego provided advisory services for the transaction.
ATLANTA — Urban Realty Partners and Prestwick Cos. have broken ground on 982 Memorial Drive, a 205-unit multifamily community in Atlanta’s Reynoldstown neighborhood. The five-story property will offer studio and one-bedroom floor plans. The community will be located at 982 Memorial Drive, two blocks from the Atlanta BeltLine Eastside Trail and two miles east of downtown Atlanta. Patterson Real Estate Advisory Group arranged a construction loan through Principal Real Estate Investors and also procured a limited equity partner, Humphreys Capital, on behalf of the developers. A timeline for completion was not disclosed.