development1

Condor Partners, Solera Senior Living to Develop $75M Community in Evanston, Illinois

by Kristin Harlow March 12, 2020

EVANSTON, ILL. — Developer Condor Partners and seniors housing operator Solera Senior Living are developing Trulee Evanston, a 163-unit luxury community in Evanston. A JLL Capital Markets team led by Joel Mendes arranged construction debt and joint venture equity for the project. A national bank provided the debt and an institutional private equity fund manager provided the equity. Total project costs are estimated at $75 million. Construction will commence immediately with completion slated for 2021. The nine-story development will feature a mix of private independent living, assisted living and memory care units. Trulee will include multiple terraces and views of downtown Evanston and Lake Michigan.

March 12, 2020

Development Illinois Midwest Retail

Draper and Kramer Completes Phase II Renovations at Shopping Center Anchored by Jewel-Osco in Chicago

by Kristin Harlow March 12, 2020

CHICAGO — Draper and Kramer Inc. has completed the second phase of its ongoing renovation of Lake Meadows Market in Chicago’s Bronzeville neighborhood. The final element of Phase II was a full interior and exterior renovation of the shopping center’s 193,000-square-foot Jewel-Osco grocery store. Jewel-Osco parent company Albertsons shared costs of the $2.3 million project, which also included the addition of a mural entitled “Heart of Bronzeville” by local artist Corey Jenkins. Previous Phase II work included the addition of more than 18,000 square feet of new and renovated retail space for new tenants, including Taco Bell, Wing Stop, Home Run Inn Pizza and Sola Salon Studios and Culver’s. Camburas & Theodore Ltd. Served as the architect for the Jewel-Osco renovation and Powers & Sons Construction Co. was the general contractor.

March 12, 2020

Development Industrial New Jersey Northeast

Johnson Development to Build 266,966 SF Industrial Development in Burlington, New Jersey

by Alex Patton March 12, 2020

BURLINGTON, N.J. — Johnson Development Associates will build a 266,966-square-foot warehouse facility in Burlington, a southern suburb of Trenton. The project, which will be branded Exit 5 Distribution Center, will be constructed on a 59.3-acre industrial site located at 107 Elbow Lane. Delivery is scheduled for the fourth quarter. Dan McGovern, Paul Touhey and Drew Green of CBRE represented Johnson Development in the 59.3-acre land acquisition, which closed as an off-market transaction. Seacalco LLC was the seller. The sales price was undisclosed.

March 12, 2020

Arkansas Development Office Southeast

Cawley Partners Breaks Ground on 150,000 SF Office Building for Transplace in Rogers, Arkansas

by Alex Tostado March 11, 2020

ROGERS, ARK. — Cawley Partners has broken ground on a three-story, 150,000-square-foot office building in Rogers that will serve as a regional operations center for Transplace, a provider of logistics technology and services. The Frisco, Texas-based firm will occupy the entire building upon completion, which is slated for May 2021. The property is situated at 4909 W. Magnolia St., three miles west of downtown Rogers. Atlanta-based Corgan designed the building that will include courtyards, lighted pedestrian walkways, a retention pond and more than 1,000 parking spaces. Cawley Partners will serve as owner-developer. Robbie Baty, Bill McClung and Marshall Saviers of Cushman & Wakefield represented the tenant in the leasing negotiations.

March 11, 2020

Development Multifamily New Jersey Northeast

CMT Developers Underway on 514-Unit Multifamily Project in Elizabeth, New Jersey

by Alex Patton March 11, 2020

ELIZABETH, N.J. — CMT Developers LLC is underway on development of Jersey Walk, a 514-unit multifamily project in Elizabeth, a southwestern suburb of New York City. The Class A project, which will be located at 901 E. Jersey St., will be developed in two phases. Phase I will include two buildings totaling 218,292 square feet, which will feature 274 units in studio, one- and two-bedroom floor plans. Phase I will also include 3,000 square feet of ground-floor retail space and amenities including a gym, indoor pool and rooftop lounge. Phase II will include two six-story buildings featuring 240 units. The project is a repositioning of the former Elizabeth General Hospital, which has been vacant for more than 20 years. The new development plans to renovate and incorporate a 540-space, freestanding parking garage retained from the hospital. Parkview Financial has provided a $56 million construction loan for Phase I, which is slated for completion in spring 2021. The construction timeline for Phase II has not yet been determined.

March 11, 2020

Development Multifamily New Jersey Northeast

TFE Properties Opens 117-Unit Luxe Apartments in Woodbridge, New Jersey

by Alex Patton March 11, 2020

WOODBRIDGE, N.J. — TFE Properties has opened Luxe Apartments, a 117-unit multifamily property in Woodbridge, a southwestern suburb of New York City. Located at 1 Woodbridge Center across from Woodbridge Center Mall, the property features one- and two-bedroom floor plans with amenities including a fitness center and a yoga studio. The residential space is located on floors three through nine, and the second floor features 18,000 square feet of office space.

March 11, 2020

Development Illinois Midwest Mixed-Use

Habitat Co. Begins Development of $200M Mixed-Use Project in Chicago

by Kristin Harlow March 11, 2020

CHICAGO — The Habitat Co. has secured financing and begun development of the first phase of Ogden Commons, a $200 million mixed-use project in Chicago’s North Lawndale neighborhood. The project is being developed in a public-private partnership between Habitat, Sinai Health System, Cinespace Chicago Film Studios, the Chicago Housing Authority (CHA) and the city of Chicago. Upon completion, the 10-acre development will be home to 120,000 square feet of commercial and retail space as well as 350 mixed-income housing units. Located in a federally designated qualified Opportunity Zone, the site is bordered by Ogden Avenue, Fairfield Avenue and Rockwell Street. Ogden Commons will be located on land that once housed the CHA’s former Ogden Courts and Lawndale public housing developments. Through a combination of debt and Opportunity Zone equipment, PNC Bank funded $15 million of the $22 million development cost for Phase I, which includes 50,000 square feet of retail space housed in a three-story building. Signed tenants include Steak n’ Shake, Ja’ Grill and Wintrust Bank. The rest of the building will be leased to Sinai and Cinespace. Construction of the residential component is expected to begin in 2021. Current plans for the first residential phase call for a …

March 11, 2020

Development Georgia Industrial Office Southeast

Trammell Crow Delivers 341,041 SF Office, Distribution Center for Atlanta Community Food Bank in East Point

by Alex Tostado March 10, 2020

EAST POINT, GA. — Trammell Crow Co. has delivered a 341,041-square-foot office headquarters and distribution center for Atlanta Community Food Bank in East Point. The new facility includes 84,953 square feet of corporate office space, 69,931 square feet of cold storage and 186,157 square feet of warehouse space. Energy-saving features of the building include high-efficiency LED lighting and windows with low-energy tinted glazing. The property is situated on 65 acres at 3400 N. Desert Drive, about four miles west of Hartsfield-Jackson Atlanta International Airport. Of the 71.7 million pounds of food and grocery product the company distributed in fiscal year 2019, 22 percent was fresh produce. The food bank works with more than 700 partner agencies that directly distribute food to 29 counties within metro Atlanta and North Georgia.

March 10, 2020

Development Hospitality Washington Western

THG to Open Residence Inn by Marriott Wenatchee in Washington

by Amy Works March 10, 2020

WENATCHEE, WASH. — The Hotel Group (THG) is expanding its hotels-under-management portfolio with the addition of Residence Inn by Marriott Wenatchee, a five-story hotel development in Wenatchee. Developed and owned by Seattle-based Stream Real Estate, the hotel will feature 127 suites with fully equipped kitchens and window-facing workspaces. Additionally, the property will offer complimentary breakfast, an outdoor area with seating, fire pit, outdoor grills, heated pool and spa, full-service bar, fitness facility and 1,400 square feet of meeting space. Slated to open in fourth-quarter 2020, the hotel is a joint venture between THG and Stream Real Estate.

March 10, 2020

Acquisitions Development Mixed-Use Northeast Pennsylvania Top Stories

SomeraRoad Buys Out Partners for SouthSide Works in Pittsburgh, Plans $167M Development and Renovation

by John Nelson March 10, 2020

PITTSBURGH — SomeraRoad Inc., a value-add investment and development firm based in New York City, has taken full ownership of SouthSide Works in Pittsburgh’s South Side neighborhood. The adaptive reuse project was formerly the site of J&L Steel Works and now houses approximately 280,000 square feet of retail space, 180,000 square feet of office space and 85 apartments. The project opened in 2004. SomeraRoad plans to undertake more than $37 million in capital improvements and invest $130 million in new development at the project, including 230 apartments and 200,000 square feet of office space fronting the Monongahela River. Another key feature of the new development plan is the conversion of the SouthSide Works Cinema to a 77,000-square-foot creative office space dubbed Box Office. SomeraRoad plans for the new office space to house about 500 office workers. The Kansas City office of HOK Architecture will design Box Office, which SomeraRoad will begin work on this summer. “The cinema’s grand entry, high ceilings and efficient useable floorplate, coupled with steel and glass improvements and the adaptive reuse appeal, creates a unique office conversion opportunity Pittsburgh hasn’t seen before,” says Jon Reeser, SomeraRoad’s vice president of acquisitions and head of its Pittsburgh office. …

March 10, 2020

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