development1

Sea Oats Group Begins Construction on $1.3B Mixed-Use Project in Port Aransas, Texas

by Taylor Williams October 21, 2019

PORT ARANSAS, TEXAS — Sea Oats Group has begun construction on Cinnamon Shore South, a $1.3 billion mixed-use project that represents an expansion of the 300-acre Cinnamon Shore development in Port Aransas, located outside Corpus Christi on the Texas coast. In addition to luxury homes, Cinnamon Shore South will feature several commercial components, including roughly 120,000 square feet of retail and restaurant space, a 12,000-square-foot health and wellness center, 175-room hotel and 40,000 square feet for office or live/work space. In addition, a 225-room hotel and convention center that can accommodate as many as 2,000 attendees will also be developed on Cinnamon Shore property, with the groundbreaking slated for February 2020 and the opening scheduled for 2021.

October 21, 2019

California Development Hospitality Loans Western

CBRE Secures $43M in Construction Financing for AC Hotels by Marriott in San Rafael, California

by Amy Works October 21, 2019

SAN RAFAEL, CALIF. — CBRE has arranged $43 million in non-recourse construction financing for the development of an AC Hotels by Marriott in downtown San Rafael. John Nelson and David Kaim of CBRE’s San Francisco office arranged the financing on behalf of the sponsorship, Monahan Parker. ACORE Capital provided the floating-rate financing. Located at the corner of Fifth Avenue and B Street, the hotel will feature 140 rooms. Construction is slated to begin immediately, with completion scheduled for third-quarter 2021. CSI Construction will serve as general contractor for the project. The property will be the first major hotel to be developed in Marin County in more than two decades, according to CBRE.

October 21, 2019

Development Office Texas

Stonelake Capital Underway on 24-Story Office Tower at The Domain in Austin

by Alex Tostado October 18, 2019

AUSTIN, TEXAS — Stonelake Capital Partners is underway on construction of Domain Tower II, a 24-story office project within The Domain mixed-use development on Austin’s north side. Designed by Beck Group, the property will ultimately span 330,000 square feet. A timeline for completion was not released. Stonelake recently completed construction of Domain Tower, which is fully leased to employment search engine Indeed.

October 18, 2019

Arizona Development Mixed-Use Multifamily Retail Western

CA Residential, Diamond Realty Investments Open 30-Story Mixed-Use Property in Downtown Phoenix

by Amy Works October 18, 2019

PHOENIX — CA Residential and Diamond Realty Investments have opened the first phase of The LINK PHX, a 30-story mixed-use development located in downtown Phoenix. Shepley Bulfinch served as architect, and Katerra served as general contractor for the project. Located at 330 E. Pierce St., the first phase of The LINK PHX features 257 apartments in a mix of studio, one- and two-bedroom layouts ranging in size from 450 square feet to 1,450 square feet, as well as 7,000 square feet of retail space. Each apartment features nine-foot ceilings; kitchen with European-style, soft-close cabinetry; quartz countertops; stainless steel appliances and designer fixtures; and full-size washers and dryers. At complete build-out, the three-phase development will bring more than 600 rental residences and 21,000 square feet of retail space to the Roosevelt Row Arts District over the next decade.

October 18, 2019

Development Mixed-Use New Jersey Northeast

LeCesse, MAS Underway on $91.5M Mixed-Use Development in Elizabeth, New Jersey

by Alex Patton October 17, 2019

ELIZABETH, N.J. — LeCesse Development Corp. and MAS Development Group are underway on construction of Vinty, a $91.5 million mixed-use project in Elizabeth, a western suburb of New York City. Vinty will offer 267 apartment units and 37,000 square feet of ground-floor retail and office space. Amenities will include a fitness center, dog park, outdoor theater, golf simulator, pool and a greenhouse. The location’s close proximity to the Elizabeth train station offers direct access to Manhattan, Newark Penn Station and Newark Liberty National Airport. JLL arranged construction financing for the project through Citizen’s Bank. Humphreys & Partners Architects is designing the project, and March Associates is the general contractor. Residences are expected to be available for lease in spring 2021.

October 17, 2019

Development Industrial Midwest Wisconsin

Seefried, James Campbell Co. Complete Industrial Project in Franklin, Wisconsin

by Kristin Harlow October 17, 2019

FRANKLIN, WIS. — Seefried Industrial Properties, in partnership with James Campbell Co. LLC, has completed the shell construction of the 88,667-square-foot Franklin Business Center in suburban Milwaukee. The facility is available for users ranging from 20,000 to 88,667 square feet. Located at Oakwood Park Drive near Mitchell International Airport, the development is situated on 5.7 acres and features a clear height of 28 feet, 92 auto parking spaces, eight dock doors and two drive-in doors. Peak Construction Corp., Partners in Design Architects Inc. and Pinnacle Engineering Group made up the project team. Trent Poole, Christian Chambers and Paula Wink of CBRE are marketing the property for lease.

October 17, 2019

Development Illinois Midwest Office

Skender Completes Interior Construction of 80,000 SF Spaces Location in Chicago

by Kristin Harlow October 17, 2019

CHICAGO — Skender has completed the interior construction of the eight-story, 80,000-square-foot Spaces location in Chicago. Spaces has assumed occupancy of the former Sports Authority building, located at the intersection of LaSalle Drive and Ontario Street. As the sole tenant, Spaces will enjoy private access to the building’s roof terrace, also renovated by Skender. At its new location, coworking company Spaces will provide workspace access to more than 500 business professionals from companies of all sizes. Users will have access to a gym space, large reception area and conference rooms of varying sizes. Skender collaborated with Nelson Cos., Loring Engineers, Himes Associates and Spaces parent company IWG. The property will serve as the third location in Chicago for Spaces.

October 17, 2019

Development Northeast Pennsylvania Restaurant Retail

Taco Bell to Open 2,700 SF Restaurant in Wind Gap, Pennsylvania

by Alex Patton October 17, 2019

WIND GAP, PA. — Taco Bell will open a new 2,700-square-foot restaurant in Wind Gap, located approximately 70 miles north of Philadelphia. The building will be constructed on the former site of the Wind Gap Professional Center and will be the first Taco Bell in the area. Scott Horner of Colliers International brokered the deal.

October 17, 2019

Development Northeast Pennsylvania Retail

Victory Brewing Co. to Open 14,000 SF Brewery, Taproom in Philadelphia

by Alex Patton October 16, 2019

PHILADELPHIA — Victory Brewing Co. will open a 14,000-square-foot brewery and taproom in the Logan Square neighborhood of Philadelphia’s Center City. The facility will feature a production brewing system, kitchen, three bars, street-level outdoor seating and a rooftop patio. Victory’s first location in Downingtown opened in 1996, and the company operates two other locations in Parkesburg and Kennett Square. The Philadelphia brewery will function as a new flagship taproom as well as an innovation hub for new beers. Local development firm Pearl Properties owns the building, and Gerner Kronick + Valcarcel is designing the facility in collaboration with Victory. The facility is slated to open in late 2020.

October 16, 2019

Development Illinois Midwest Multifamily Student Housing

Opus Completes 14-Story Student Housing Building Adjacent to University of Illinois at Urbana-Champaign

by Kristin Harlow October 16, 2019

CHAMPAIGN, ILL. — The Opus Group has completed Seven07, a new student housing building near the campus of the University of Illinois at Urbana-Champaign. The 14-story building is home to 218 units with 548 beds. Amenities include a fitness center, indoor basketball court, spa, lounge, café and study areas. The fourth-floor clubroom features pin ball machines, shuffle board and ping pong tables. The project was a joint venture between Opus and The Carlyle Group. Opus served as developer, design-builder, architect and structural engineer. Creative License was the interior designer. Asset Living will manage the property. SunTrust Commercial Real Estate provided project financing.

October 16, 2019

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