development1

New Perspective Begins Development of 149-Unit Senior Living Community in Franklin, Wisconsin

by Kristin Harlow January 23, 2019

FRANKLIN, WIS. — New Perspective Senior Living has begun development of a 149-unit senior living community in Franklin. The 180,000-square-foot property will be situated on six acres at 7220 Ballpark Drive South. The community will feature independent and assisted living apartments as well as Betty’s Harbor, a neighborhood specifically designed for residents with memory loss. In addition to a two-story lobby and reception area, the property will feature a wellness center, dining room, café, beauty salon, movie theater and dance hall. Milwaukee-based Stevens Construction is the general contractor. Completion is slated for spring 2020. Eden Prairie, Minn.-based New Perspective Senior Living will operate the property.

January 23, 2019

California Development Mixed-Use Restaurant Retail Western

DWS Group Begins Next Phase of $180M Manhattan Village Redevelopment in Southern California

by Amy Works January 23, 2019

MANHATTAN BEACH, CALIF. — DWS Group has broken ground on Village Shops, the next phase of its $180 million Manhattan Village redevelopment in Manhattan Beach. Manhattan Village is 44-acre, 573,000-square-foot indoor/outdoor mixed-use dining and retail property. Village Shops will feature 60,942 square feet of retail/restaurant space, 30,744 square feet in South Village and 30,198 square feet in North Village; two parking decks encompassing 956 spaces in South Deck, North Deck and surface lots; a water feature; clock tower; and seating areas and lush landscaping. Completion for Village Shops is scheduled for November 2020. Currently signed tenants at Manhattan Village include ROC, Mercado Manhattan Beach, California Pizza Kitchen, Joey Manhattan Beach, Urban Plates, MAC, Origins, Holly and Hudson Nail Lounge, Macy’s, Apple, Williams Sonoma, Pottery Barn, Pottery Barn Kids, Sephora, Victoria’s Secret, Tommy Bahama and Kiehl’s. Manhattan Village is being developed in phases and slated for full completion in 2020. JLL is managing and handling leasing at Manhattan Village.

January 23, 2019

California Company News Leasing Activity Top Stories Western

Facebook Signs Lease for 803,000 SF Office Campus Near San Francisco

by David Cohen January 23, 2019

BURLINGAME, CALIF. — Tech giant Facebook has signed a lease to fully occupy Burlingame Point, an 803,000-square-foot office campus currently under construction in Burlingame. Located on more than 18 acres at the edge of the San Francisco Bay, Burlingame Point is being developed by Kylli, a subsidiary of China-based Genzon Investment Group Co. The campus is 16 miles south of San Francisco. Mike Moran and Clarke Funkhouser of Cushman & Wakefield represented Kylli in the transaction. Facebook was represented by JLL. “We couldn’t be more excited that one of the world’s leading technology firms has selected Burlingame Point to expand its Northern California footprint, says Moran. “This is a testament that strong design elements do make a difference to the discerning tenant.” In addition to four new Class A office buildings with bay views, the project will include public amenities that include an improved Bay Trail, a pedestrian promenade and an improved roadway for cyclists and motorists. Facebook first announced the lease was in negotiations in August and the lease was fully executed in the fourth quarter of 2018. Burlingame Point is expected to open in 2020. The project is the first Class A office campus developed by Kylli in the …

January 23, 2019

Development Office Texas

Hunt, Moss Begin Vertical Construction of 262,000 SF Office Building in Downtown El Paso

by Taylor Williams January 22, 2019

EL PASO, TEXAS — Developer Hunt Cos. and Florida-based general contractor Moss have gone vertical on construction of WestStar Tower, a 262,000-square-foot office building in downtown El Paso. The companies broke ground on the project last June, WestStar Tower will serve as the new corporate headquarters for both Hunt and WestStar, a regional bank. Together, the two firms will employ about 430 people at the new building, which will include an 850-space parking garage. Sonny Brown & Associates is handling preleasing of the property.

January 22, 2019

Acquisitions Affordable Housing California Development Multifamily Western

Affirmed Housing Group to Develop 78-Unit Affordable Housing Development in San Diego

by Amy Works January 22, 2019

SAN DIEGO — Affirmed Housing Group has acquired a 10,000-square-foot land parcel located in downtown San Diego. Central Auto Parks LLC sold the property for $3.7 million. Affirmed Housing Group plans to develop a 78-unit affordable housing property on the currently vacant parcel at the southeast corner of Front and Beech streets. Victor Krebs of Colliers International San Diego Region represented the seller, while Affirmed Housing Group was self-represented in the transaction.

January 22, 2019

Development Midwest Missouri Multifamily

Copaken Brooks, Burns & McDonnell Break Ground on 14-Story Apartment Building in Kansas City

by Kristin Harlow January 22, 2019

KANSAS CITY, MO. — Copaken Brooks and Burns & McDonnell have broken ground on Reverb, a 14-story apartment building in the Crossroads Arts District of Kansas City. Completion is slated for summer 2020. The property’s 132 units will sit atop a two-story parking garage. The design also calls for 2,000 square feet of retail space, which will be situated on the ground level, as well as space for food trucks and a sidewalk park. About 10 percent of the units will meet Kansas City’s affordability standards. CP Real Estate Capital is the investment partner for the project. Total investment is expected to be approximately $40 million. The name Reverb comes from the reverberation.

January 22, 2019

Development Illinois Midwest Multifamily

Summit Begins Construction of Six-Story Apartment Building in Chicago

by Kristin Harlow January 22, 2019

CHICAGO — Summit Design + Build LLC has begun construction of 6145 N. Broadway in Chicago’s Edgewater neighborhood. City Pads, Catapult Real Estate Solutions, Cagan Management Group and Built Form make up the project team. Construction commenced with the demolition of an existing single-story building. The new apartment building will span 79,000 square feet and six stories. The project will feature 105 apartment units ranging from studios to two bedrooms as well as 3,700 square feet of first-floor retail space and 45 parking spaces. Amenities will include a bike room, fitness center, outdoor patio and storage lockers. Completion is slated for spring 2020.

January 22, 2019

Acquisitions Development Industrial Oregon Western

Bridge Development Partners Buys 35-Acre Parcel in Portland, Plans Two Industrial Properties

by Amy Works January 21, 2019

PORTLAND, ORE. — Bridge Development Partners has entered the Portland market with the acquisition of a 35-acre land parcel, located at 775 NE Columbia Blvd., for an undisclosed price. The company plans to construct Bridge Point I-5 – Portland, a two-building industrial park. The property will feature an approximately 425,000-squre-foot building and an approximately 225,000-square-foot facility. The 425,000-square-foot facility will feature 36-foot clear heights with 100 trailer stalls, ideally for distribution-oriented tenants in the 150,000-square-foot to 425,000-square-foot range. The second building will feature 32-foot clear heights and 36 trailer stalls, tailored to distribution, manufacturing and industrial tenants with small needs for space — as little as 20,000 square feet. Bridge expects to deliver the project in late 2020. Tom Talbot, Zach Francis and Karla Hansen of Kidder Mathews represented the buyer, while Brian Mitchell of Macadam Forbes represented the seller, Hanson Pipe, in the transaction.

January 21, 2019

Development Illinois Industrial Midwest

Conor Commercial Completes Development of 316,550 SF Logistics Center in Chicago

by Kristin Harlow January 17, 2019

CHICAGO — Conor Commercial Real Estate has completed development of Last Mile Logistics Center I-55, a speculative industrial facility in Chicago. The 316,550-square-foot property is situated on an infill site at the intersection of 51st Street and St. Louis Avenue. The facility features 55 truck docks, 71 trailer stalls, 50-foot bays and a clear height of 36 feet. McShane Construction Co. and Ware Malcomb provided the design-build services. Walter Murphy and Sean Austin of Lee & Associates will market the property for lease.

January 17, 2019

Development Industrial Midwest Minnesota

Opus Completes 86,632 SF Industrial Building in St. Paul, Minnesota

by Kristin Harlow January 17, 2019

ST. PAUL, MINN. — The Opus Group has completed an 86,632-square-foot industrial building located within the St. Paul Port Authority’s Beacon Bluff Business Center. Terracon Consultants Inc., a multi-disciplinary engineering consulting firm, will occupy 15,300 square feet of the building. The facility features a clear height of 24 feet and both warehouse and office space. Todd Hanson and Jason Sell of Cushman & Wakefield are marketing the property for lease. The Beacon Bluff Business Center is an office and industrial development situated on nearly 40 acres.

January 17, 2019

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