development1

Skender Launches Interior Construction of 90,000 SF Mondelez Headquarters in Chicago

by Kristin Harlow October 3, 2019

CHICAGO — Skender has launched interior construction of the future 90,000-square-foot headquarters for Mondelez International in Chicago. The snacking company will serve as the anchor tenant in the new five-story building at 905 W. Fulton St. Mondelez is relocating 400 employees from its current headquarters in Deerfield. The headquarters expansion will also include Enjoy Life Foods, a snacking company based in Schiller Park that Mondelez acquired in 2015. Plans call for open office workstation areas, private offices, conference rooms, a large reception area, warming pantry, café and two staircases. Skender is collaborating with design firm HPA, design firm SCB and owner’s representative CBRE. Completion is slated for April 2020.

October 3, 2019

Development Illinois Industrial Midwest

Opus to Build Two-Building Speculative Industrial Development in Mokena, Illinois

by Kristin Harlow October 3, 2019

MOKENA, ILL. — The Opus Group is building Mokena Corporate Center, a two-building speculative industrial development in Mokena, about 35 miles southwest of Chicago. Completion of the 268,225-square-foot project is slated for June 2020. The development will sit on nearly 16 acres. The first building will total 154,581 square feet while the second will span 113,644 square feet. Opus is the developer, design-builder, architect and structural engineer. Lee & Associates will market the buildings for lease.

October 3, 2019

Development Industrial Texas

EastGroup Properties Breaks Ground on 278,000 SF Industrial Project in Houston

by Taylor Williams October 3, 2019

HOUSTON — EastGroup Properties has broken ground on Northwest Crossing, a 278,000-square-foot industrial project in located near the Interstate 290 and State Highway 6 interchange in northwest Houston. The project will deliver a three-building, Class A complex that will offer both multi- and single-tenant spaces for office/warehouse, light manufacturing, research & development and assembly users. Building features will include 24- to 32-foot clear heights and 20-by-20 overhead doors. JLL will handle leasing of the facility, completion of which is slated for the second quarter of 2020.

October 3, 2019

Development Industrial New Jersey Northeast Self-Storage

Hampshire, Harrison Street Break Ground on 903-Unit Self-Storage Facility in Hillsborough, N.J.

by Alex Patton October 2, 2019

HILLSBOROUGH, N.J. — A joint venture between The Hampshire Companies and Harrison Street Real Estate Capital has broken ground on a 903-unit self-storage facility in Hillsborough, located approximately 20 miles north of Trenton. The 120,524-square-foot property is located at 141 US Highway 206. Extra Space Storage will manage the facility upon completion of construction, which is slated for early 2020.

October 2, 2019

Development Illinois Midwest Multifamily Seniors Housing

Evergreen Real Estate Opens Six-Story Affordable Seniors Housing Community in Chicago

by Kristin Harlow October 2, 2019

CHICAGO — Evergreen Real Estate Group has completed construction of Independence Apartments, a six-story, 44-unit affordable seniors housing community located above the new Independence Branch Library in Chicago’s Irving Park neighborhood. Designed by John Ronan Architects, the project consists of affordable senior apartments paired with a new library that serves both residents and neighbors in the surrounding community. It is the second such project Evergreen has completed in Chicago this year, following Northtown Apartments in the West Ridge neighborhood. Both projects were funded in part with federal low-income housing tax credits and Illinois affordable housing tax credits provided by the Chicago Department of Housing. The Northtown development also received federal HOME funds from the Illinois Housing Development Authority. Other financing partners for the project include CIBC, City Real Estate Advisors (CREA), TCF Bank, Fifth Third Bank, Clocktower Tax Credits LLC, ComEd Energy Efficiency Program, North River Commission and predevelopment lenders LISC Chicago and Chicago Community Loan Fund.

October 2, 2019

Connecticut Development Loans Mixed-Use Northeast

JLL Arranges $97.5M Construction Loan for Mixed-Use Project in Stamford, Connecticut

by Alex Patton October 1, 2019

STAMFORD, CONN. — JLL has arranged a $97.5 million construction loan for the development of the second phase of Atlantic Station, a mixed-use project in Stamford, located approximately 35 miles northeast of New York City. Bank OZK provided the floating-rate loan. The first phase of Atlantic Station was completed in 2018 and comprised 325 rental units, 321 parking spaces and 16,000 square feet of retail space. The second phase will include 325 condominium units, approximately 48,000 square feet of retail space and a 534-space parking garage. Mike Tepedino, Michael Gigliotti and Scott Findlay of JLL arranged the loan on behalf of the developer and borrower, RXR Realty. Construction of Phase II is slated for completion by 2021.

October 1, 2019

Development Massachusetts Mixed-Use Northeast

Callahan Breaks Ground on 410,000 SF Mixed-Use Development in Amesbury, Massachusetts

by Alex Patton October 1, 2019

AMESBURY, MASS. — Callahan Construction Managers has broken ground on Maples Crossing, a 410,000-square-foot mixed-use development in Amesbury, located approximately 40 miles north of Boston. Developed by Global Property Development Corp., the 70-acre entertainment and lifestyle center will be anchored by six ice hockey rinks. The Daily News of Newburyport reports that the development costs $70 million and will also include an office building, restaurant and hotel. Andrus Architecture is designing the project, which is slated for completion by the end of 2020.

October 1, 2019

Development Multifamily Texas

Leon Capital Begins Construction on 365-Unit Multifamily Project in Dallas

by Taylor Williams October 1, 2019

DALLAS — Locally based investment and development firm Leon Capital has begun construction on The Academic, a 365-unit multifamily project located at the former site of the Dallas Independent School District just north of downtown. The community will feature studio, one- and two-bedroom units ranging in size from 500 to 1,150 square feet and offering private balconies and patios, stainless steel appliances and full-size washers and dryers. Amenities will include a clubhouse with golf and sports simulators, convenience mart, an executive business center with flexible office space, a resort-style pool and a fitness center. Completion is slated for early 2021.

October 1, 2019

Development Michigan Midwest

Michigan State University Opens 100,000 SF Building at Business College

by Kristin Harlow October 1, 2019

EAST LANSING, MICH. — Michigan State University has opened the Edward J. Minskoff Pavilion at the Eli Broad College of Business. Located on Shaw Lane adjacent to the Eppley Center, the 100,000-square-foot building features an atrium with views of the Red Cedar River. It houses an entrepreneurship lab, classrooms, team rooms, a media studio and expanded career center. The three-story facility was named after Edward J. Minskoff, a Michigan State alumnus and real estate developer whose $30 million gift in 2018 was the largest single-donor gift in the school’s history. The project was privately funded from more than 1,700 donors since fundraising began in 2014. LMN Architects and Clark Construction made up the project team.

October 1, 2019

Arizona Development Retail Western

Evergreen Devco Breaks Ground on 172,000 SF Shopping Center in Metro Phoenix

by Amy Works October 1, 2019

GILBERT, ARIZ. — Evergreen Devco has commenced construction for The Post at Cooley Station, a grocery-anchored shopping center located at the southeast corner of Recker and Williams Field roads in Gilbert. Situated on 23 acres, the retail center will feature 23,000 square feet of multi-tenant shop space in three buildings. Anchored by Fry’s Marketplace, the project will also include AutoZone, Taco Bell and Burger King. Currently, the center is 65 percent preleased, with one junior-anchor pad available. Butler Design Group, Optimus Civil Design Group, Kraemer Engineers and Laskin & Associates are the design consultants for the project. Alexander Building Co. is serving as site contractor. Evergreen Devco purchased the property on Sept. 19, and construction is scheduled for completion in third-quarter 2020.

October 1, 2019

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