development1

DRA Advisors, Wildamere Capital to Renovate, Rename Office Towers in Downtown Minneapolis

by Kristin Harlow December 19, 2019

MINNEAPOLIS — Owners DRA Advisors and Wildamere Capital Management plan to renovate and rename the office towers located at 900 and 920 S. Second Ave. in downtown Minneapolis. Previously known as Oracle and International Centre, the new name for the 622,173-square-foot property will be Forum. Plans call for an overhaul of the multi-story atrium and construction of a new skyway lounge with conference facilities and spec suites. Construction is expected to begin before the end of the year and be completed in 2020. Katie Tufford, Peter Fitzgerald, Tom Tracy and Courtney Rosoff of Cushman & Wakefield are the leasing agents. DRA Advisors and Wildamere purchased the towers in March.

December 19, 2019

Development Midwest Office Ohio

M+A Architects Completes Design of New 80,000 SF Office for White Castle in Columbus

by Kristin Harlow December 19, 2019

COLUMBUS, OHIO — M+A Architects has completed the interior design work of the new 80,000-square-foot home office for White Castle in Columbus. The office design incorporates shared workspaces and tributes to the hamburger chain’s history. Located at 555 W. Goodale St., it features a library, café, indoor fitness area, mother’s nursing suite and a spiral slide connecting the second floor to the first floor. The project team also included Architectural Alliance, POD Design and Elford.

December 19, 2019

Development Midwest Ohio Retail

Topgolf Opens 65,000 SF Venue in Metro Cleveland

by Kristin Harlow December 19, 2019

INDEPENDENCE, OHIO — Topgolf Entertainment Group has opened its newest Ohio location in the Cleveland area. The three-level, 65,000-square-foot venue will feature popular Topgolf games and technology as well as private event spaces. In addition to golf, guests will enjoy a chef-driven menu, drinks, big screen TVs and music. The Cleveland location is situated at 5820 Rockside Woods Blvd. More than 500 full- and part-time associates were hired in advance of the property’s opening. Topgolf also has locations in Columbus and Cincinnati.

December 19, 2019

http://rebusinessonline.com/metro-storage-frc-open-785-unit-self-storage-facility-in-line-lexington-pennsylvania/

Development Industrial New York Northeast Self-Storage

Metro Storage, FRC Open 689-Unit Self-Storage Facility on Long Island

by Alex Patton December 18, 2019

WESTHAMPTON BEACH, N.Y. — A partnership between Metro Storage LLC and Fremont Realty Capital has opened a 689-unit self-storage facility in West Hampton Beach on the eastern part of Long Island. The two-story facility, located at 105 Old Riverhead Road, offers 77,000 rentable square feet of climate-controlled space and features interior loading bays, elevators, security and a retail office. Metro Storage opened a 785-unit facility in Line Lexington, Pennsylvania at approximately the same time. The Westhampton Beach property is Metro’s 5th self-storage facility in New York

December 18, 2019

Development Multifamily Texas

Nitya Capital, Tema Development to Build 32-Story Apartment High-Rise in Houston

by Taylor Williams December 18, 2019

HOUSTON — A partnership between two locally based developers, Nitya Capital and Tema Development, will build Two Hermann Place, a 32-story multifamily high-rise building that will be located in Houston’s Museum District. The property will offer 295 units in 13 different floor plans that will feature quartz countertops and backsplashes, walk-in closets and smart thermostats. The average unit size will be 1,076 square feet. Amenities will include a pool with cabanas, sky lounge, café bar, dog park and a fitness center. The groundbreaking is scheduled for the first quarter of 2020, and completion is slated for winter 2022.

December 18, 2019

Development Industrial Northeast Pennsylvania Self-Storage

Metro Storage, FRC Open 785-Unit Self-Storage Facility in Line Lexington, Pennsylvania

by Alex Patton December 17, 2019

LINE LEXINGTON, PA. — A partnership between Metro Storage LLC and Fremont Realty Capital (FRC) has opened a 785-unit self-storage facility in Line Lexington, located approximately 30 miles north of Philadelphia. The two-story facility, located at 4671 County Line Road, offers 79,383 rentable square feet of climate-controlled space and features interior loading bays, elevators, security and a retail office. The property is Metro’s 11th self-storage facility in Pennsylvania.

December 17, 2019

Development Multifamily Northeast Pennsylvania Seniors Housing

Capitol Seniors Housing Breaks Ground on 86-Unit Community in Exton, Pennsylvania

by Alex Patton December 17, 2019

EXTON, PA. — Capitol Seniors Housing has started construction of Arbor Terrace Exton, an 86-unit assisted living and memory care community in the Philadelphia suburb of Exton. The 78,000-square-foot community will be located near major medical facilities, restaurants and shopping centers. The Arbor Company will operate the community upon completion, which is slated for winter 2020. Meyer Senior Living Studio is the designer on the project.

December 17, 2019

Colorado Development Loans Multifamily Western

Saunders Commercial Receives $43.2M in Construction Financing for Ten West Greeley Apartments in Colorado

by Amy Works December 17, 2019

GREELEY, COLO. — Saunders Commercial Development has received $43.2 million in structured construction financing for the development of Ten West Greeley Apartments, a Class A multifamily property being developed at 6600 Eighth St. in Greeley. JLL worked on behalf of the developer to secure the approximately $32 million, floating-rate senior loan through a national bank and the $11.2 million preferred equity loan through a specialty financing group. Leon McBroom and Eric Tupler of JLL Capital Markets debt placement team secured the financing for the developer. Situated on 10.15 acres, the three-story Ten West Greeley will feature 264 garden-style apartments averaging 882 square feet. Units will include stainless steel appliances, walk-in closets, plank flooring, full-size washers and dryers, and private balconies. Slated for completion in 2021, the property will feature 64 garages as well as 408 surface parking spaces. Community amenities will include a resort-style pool, outdoor fire pit, lounge area, clubhouse, entertainment area, fitness center, wet bar and dog wash.

December 17, 2019

Development Industrial Office Texas

Creation Equity Breaks Ground on 1 MSF Office, Warehouse Project Near Fort Worth

by Taylor Williams December 17, 2019

HALTOM CITY, TEXAS — Phoenix-based Creation Equity has broken ground on The 820 Exchange, a commercial project located in the Fort Worth suburb of Haltom City that will consist of roughly 1 million square feet of office and warehouse space. LGE Design Build, also based in Phoenix, is the general contractor for the project. According to the Dallas Business Journal, the project is valued at $45 million and is expected to be complete by fall 2020.

December 17, 2019

Development Midwest Ohio Retail

Restoration Hardware Opens 60,000 SF Gallery at Easton Town Center in Columbus

by Kristin Harlow December 17, 2019

COLUMBUS, OHIO — Restoration Hardware has opened RH Columbus, The Gallery at Easton Town Center. The three-story, 60,000-square-foot concept includes a rooftop restaurant, wine and barista bar and landscaped park. On level two, visitors will find RH Modern, an assortment of modern furnishings, lighting, textiles and décor, as well as the RH Interior Design Firm & Atelier. RH Columbus is located at 4120 Worth Ave. within Easton Town Center, a 1,300-acre shopping center and mixed-use destination. “RH Columbus reflects our vision to create architecturally inspiring spaces that blur the lines between residential and retail, indoors and outdoors, home and hospitality — spaces that activate all of the senses and create an immersive experience that cannot be replicated online,” says Gary Friedman, RH chairman and CEO.

December 17, 2019

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