MONTCLAIR, N.J. — The Hampshire Cos. and Hackensack Meridian Health will open the 45,375 Mountainside Medical Center office building in Montclair, a western suburb of New York City. The medical center will provide a range of medical services including general surgery, cardiology, orthopedics and pediatrics. The Class A, three-story building will be located at 1 Bay Ave. NK Architects designed the building and construction began in 2018. The medical center will open this Thursday, Jan. 9.
DANIA BEACH, FLA. — Kimco Realty Corp. has sold approximately nine acres of land at its Dania Pointe mixed-use development in Dania Beach, near Interstate 95 and Stirling Road in Broward County. The buyer, Spirit Airlines, will develop a new global headquarters at the site, investing up to $250 million for the creation of a corporate campus that will support more than 1,000 employees in up to 500,000 square feet of space. The airline has also executed a ground lease for an additional land parcel for the construction of a Spirit corporate training residence. Dania Pointe is a 102-acre mixed-use development with nearly 1 million square feet of retail and restaurants, in addition to apartments, hotels, offices and public event space. The project is located five miles southeast of Fort Lauderdale near the Fort Lauderdale-Hollywood International Airport. Construction of the Spirit Airlines headquarters is expected to begin in 2021, with an anticipated transfer of employees in mid-2022. Phase I of the 102-acre Dania Pointe development opened in November 2018 and spans approximately 330,000 square feet of retail, now 96 percent leased to brands including T.J. Maxx, Hobby Lobby, Ulta Beauty, BrandsMart, Five Below, Shoe Carnival, Starbucks, and Youfit Health Club. …
CARTERSVILLE, GA. — PCCP LLC has formed a joint venture with Panattoni Development Co. Inc. for the speculative development of a 328,000-square-foot industrial building in Cartersville, 51 miles northeast of Atlanta. The project is located directly off Interstate 75 in Bartow County. PCCP and Panattoni recently acquired the 104-acre site that allows for the development of up to 724,000 square feet across two buildings. Two buildings are planned for two separate phases of development. PCCP and Panattoni expect to deliver the first facility, a rear-load building with 32-foot clear heights, in the third quarter. Mike Chambers, Jack Haden and Kane Chambers of NAI Brannen Goddard are leading the leasing effort of the property.
MERCED, CALIF. — Shamrock Acquisitions has received $68.8 million in construction financing for the development of Merced Station, an 885-bed student housing community located near the University of California, Merced. Scott Meredith of George Smith Partners secured the financing from an affiliate of Mosaic Real Estate Credit on behalf of the borrower. The community will offer two-, three- and four-bedroom units. Shared amenities will include retail space, a state-of-the-art clubhouse, swimming pool, spa, basketball court, fitness room and study lounge. Construction is scheduled for completion in summer 2021.
MIAMI — Berkadia has secured a $76 million bridge loan for the construction of Gateway at Wynwood, an approximately 230,000-square-foot office and retail complex at 2916 N. Miami Ave. in Miami’s Wynwood district. Charles Foschini of Berkadia arranged the financing through Miami-based 3650 REIT on behalf of the borrower and developer, New York-based Rose & Berg Realty Group LLC. Designed by architect Kobi Karp, Gateway at Wynwood will be situated near Miami’s central business district (CBD), Midtown, the Arts and Entertainment District, Miami Beach and mass transit options including the Miami Metrorail and new Virgin Trains commuter rail line. The project will feature approximately 220,000 square feet of office space, with roughly 27,700 square feet of space on each floor, as well as 25,900 square feet of retail space. The site is ready for the foundation work and vertical construction to commence. Gateway at Wynwood is projected to open in the second half of 2021. Colliers International is handling Gateway at Wynwood’s office leasing assignment, and CBRE is marketing the property’s retail space.
BELTON, MO. — An 82-room Fairfield Inn & Suites hotel has opened in Belton, about 20 miles south of Kansas City. Located just north of Highway 58 between Mullen Road and I-49, the four-story property features complimentary Wi-Fi, meeting rooms, free parking and electric car charging stations. Other amenities include a fitness center, indoor swimming pool and valet laundry. The hotel will operate as a Marriott franchise, owned and managed by Kansas Hospitality Management Services.
SPRING, TEXAS — Frontier Management has broken ground on The Landing at Augusta Woods, a 120-unit seniors housing community located at 7727 August Pines Drive in Spring, a northern suburb of Houston. The property, which will include 75 units for active adults and 45 assisted living units, is set to open in early 2021. The project team includes general contractor Regent Construction, architect Jeffrey DeMure & Associates and construction lender UCB. Frontier Management will operate Landing at Augusta Woods, joining the more than 100 seniors housing communities in its management portfolio.
CONROE, TEXAS — American Furniture Warehouse (AFW) has purchased 30 acres of land at Interstate 45 and River Plantation Drive in Conroe, about 40 miles north of Houston. AFW plans to build a mega store at the site spanning 443,375 square feet. The store will include 150,000 square feet of showroom space and 293,375 square feet of warehouse/storage for merchandise. This will be the third AFW location in the metro Houston area, joining a recently opened store in Webster spanning 355,000 square feet and a 500,000-square-foot store coming to Katy in April. Ben Brown of Baker Katz, a partner firm of X Team International, represented AFW in the land acquisition. Mark Terpstra of Caldwell Cos. represented the seller, Gross Land Fund I LP.
ORLANDO, FLA. — Dalfen Industrial has acquired a 243-acre undeveloped parcel in Orlando, where the company plans to build a 2.8 million-square-foot speculative industrial project. The Class A asset will be situated along State Road 417 near the interchange with Lee Vista Boulevard and Orlando International Airport. Dalfen plans to construct multiple facilities on the site, ranging from 100,000 to 1.5 million square feet. Total construction could exceed 3 million square feet when all phases are complete, according to the developer. The first building is scheduled for completion in the fourth quarter of 2021. The seller and price of the vacant property were undisclosed. “With this project, Dalfen Industrial is satisfying a strong need in Orlando, as there are a limited number of development projects in our market geared toward bulk users,” says Jared Bonshire of Cushman & Wakefield, who represented Dalfen in the land sale transaction. “While there are projects of this scale along the I-4 Corridor in Davenport, Apopka and Lakeland, this development is the first of its kind for Orlando.” Dalfen Industrial is a Dallas-based buyer of industrial real estate, primarily focused on strategically located urban infill warehouses and distribution buildings. The developer recently acquired a 1.9 …
LYNN, MASS. — Callahan Construction Managers has broken ground on Breakwater, a 331-unit apartment complex in Lynn, a northern suburb of Boston. A joint venture of The Dolben Co. and Minco Corp. is developing the two-building waterfront apartment complex on the site of the former Beacon-Bel Chevrolet lot, which had stood vacant for 35 years. Amenities will include a fitness center, game room, pet wash, outdoor firepit and direct access to the waterfront. HDS Architecture is designing the complex.
