development1

JV to Develop 568,000 SF Office Campus for Hewlett Packard Enterprise in Metro Houston

by Taylor Williams November 1, 2018

SPRING, TEXAS — A joint venture between Patrinely Group, USAA Real Estate and CDC Houston will develop Hewlett Packard Enterprise’s (HPE) new 568,000-square-foot office campus in metro Houston. The property will be located within CityPlace, a 60-acre mixed-use development in the northern Houston suburb of Spring. Amenities may include a fitness center, café and an open courtyard. The developers plan to break ground during the fourth quarter. HPE is a Palo Alto-based information technology firm that was founded in 2015 as part of the splitting of Hewlett-Packard into two firms — HPE and HP Inc., the Los Angeles-based manufacturer of printers, PCs and mobile devices.

November 1, 2018

Development Illinois Midwest Multifamily

Construction Underway for 153-Unit Apartment Project in Skokie, Illinois

by Kristin Harlow November 1, 2018

SKOKIE, ILL. — W.E. O’Neil Construction is underway on the construction of 8000 North, a 153-unit apartment project in Skokie. The 12-story, 318,000-square-foot property will include 15,000 square feet of retail space as well as a top-floor amenity space and rooftop garden. Units will range in size from 535 square feet for studios to 1,614 square feet for penthouse units. Monthly rents are projected to start at $1,400. The development team, including architect Lucien Lagrange Studio, worked with the village of Skokie to utilize $5.9 million in tax-increment financing for environmental remediation and site preparation of the property. The first residents are expected to move into the property by December 2019.

November 1, 2018

Development Michigan Midwest Mixed-Use

Bedrock Releases New Renderings for Hudson’s Site in Detroit

by Kristin Harlow October 31, 2018

DETROIT — Bedrock has released new renderings featuring an updated tower design for its development of the former J.L. Hudson department store site in Detroit. The tower is now slated to rise 912 feet and include 1.4 million square feet of retail, office, hotel, residential and public space. The new design features stepped tiers, which “allow for terraces for amenities and possible hospitality spaces,” according to SHoP Architects, the project architect. Bedrock, the real estate arm of businessman Dan Gilbert, founder of Quicken Loans, broke ground on the project in December 2017. Completion is slated for December 2020. The department store closed in 1984 and was imploded in 1998.

October 31, 2018

Development Illinois Midwest Office

Summit Breaks Ground on Five-Story Boutique Office Building in Chicago

by Kristin Harlow October 31, 2018

CHICAGO — Summit Design + Build LLC has broken ground on 1040 West Fulton, a five-story, 29,000-square-foot boutique office building in Chicago. Summit plans to occupy the top two floors of the property following its completion next fall. This leaves roughly 14,000 square feet of office space and 2,800 square feet of retail space for lease. The property will include 17 indoor parking spaces, a fifth-floor outdoor terrace and a sixth-floor rooftop. The project team includes architect Hartshorne Plunkard Architecture, owner’s representative Carr Realty Advisors, structural engineer IMEG Corporation, civil engineer Weaver Consultants Group and MEP engineer WT Engineering. Chad Schroedl, Scott Maesel and Drew Dillon of SVN Commercial Chicago will market the available space for lease. First Bank of Highland Park is providing construction financing.

October 31, 2018

Development Industrial Maryland Southeast

CREG Breaks Ground on 350,000 SF Speculative Industrial Development Near Baltimore

by Amy Works October 31, 2018

HARFORD COUNTY, MD. — Chesapeake Real Estate Group (CREG), on behalf of TA Realty, has broken ground on a two-building warehouse/industrial project within Trimble Road Business Park in the Edgewood submarket of Harford County, approximately 30 miles northeast of Baltimore. Having acquired the site from CREG in 2018, TA Realty is moving forward with the construction of a 210,000-square-foot speculative facility at 102 Fulfillment Drive and a 140,450-square-foot building at 103 Fulfillment Drive. AGCO, a designer, manufacturer and distributor of agriculture equipment and solutions, has preleased 50,000 square feet of space within 103 Fulfillment Drive, representing 35 percent of the building’s capacity. Slated for delivery in 2019, both buildings will feature concrete tilt-up construction, 32-foot clear ceiling heights and 7-inch unreinforced concrete floor slabs to accommodate heavy loads. The facility at 102 Fulfillment Drive will feature 18 dock doors and two drive-in doors.

October 31, 2018

Arizona Development Multifamily Seniors Housing Western

Koelsch Communities Building $40M Independent Living Community in Chandler, Arizona

by Amy Works October 31, 2018

CHANDLER, ARIZ. — Koelsch Communities is in the midst of construction for Park at Copper Creek, a luxury independent living community in the Phoenix suburb of Chandler. The three-story, 166,000-square-foot property will offer 135 apartments. Development costs were estimated at $40 million. RJ Development, which is partnering with Koelsch on the project, purchased the six-acre development site in 2017 for $3.2 million. PNC Bank provided $30.5 million in construction financing, while private investors funded the remainder of the costs. Koelsch Construction is acting as general contractor. Judy Koelsch and David Goularte of JSK Design will handle interior designs, and Koelsch Communities will operate the property. Construction is scheduled for completion in spring 2019.

October 31, 2018

Development Georgia Mixed-Use Multifamily Office Retail Southeast Student Housing

Morehouse School of Medicine, Carter Break Ground for $52M Mixed-Use Project in Atlanta

by Amy Works October 30, 2018

ATLANTA — Morehouse School of Medicine (MSM) and Carter, an Atlanta-based developer, have broken ground for the first phase of Lee Street Campus, a $52 million mixed-use development in Atlanta’s Historic West End. The $52 million development will include MSM’s first on-campus graduate student housing, offering 187 units in a mix of studio, one- and two-bedroom layouts; a 25,000-square-foot ambulatory health facility; 9,000-square-foot fitness/wellness center; 2,500 square feet of retail space; and a four-level parking deck at the corner of Lee Street and Westview Drive. The ownership joint venture for the project includes equity investments by MSM, Carter and Campus Life Fund, sponsored by Atlantic American Partners. Patterson Real Estate Advisors Group secured construction financing, which was provided by First Citizens Bank. Construction is slated for completion in time for the 2020 school year.

October 30, 2018

Development Montana Multifamily Seniors Housing Western

Immanuel Lutheran Communities Finishes Independent Living Addition to CCRC in Montana

by Amy Works October 30, 2018

KALISPELL, MONT. — Immanuel Lutheran Communities has completed a 58,000-square-foot independent living expansion at its continuing care retirement community in Kalispell, which it claims as the only continuing care retirement community (CCRC) in Northwest Montana. Known as The Villas at Buffalo Hill, the project added 36 units to the larger community. A grand opening will be held Saturday, Nov. 3. “We have been expanding and renovating in phases over the last few years, including the goal to significantly grow the number of our independent living residences to meet the evolving senior demographic,” said Jason Cronk, the company’s CEO. The new community also features the Wooden Nickel Bistro and Lounge with coffee bar and outdoor café dining, the Claremont Restaurant, and a variety of other services and amenities. Swank Enterprises built the expansion, which MMW and CJMW Architects designed. Sales and marketing services are provided by Solutions Advisors. Sawgrass Partners provided development advisory and financial planning services.

October 30, 2018

Development Indiana Industrial Midwest

CT Realty Buys 95-Acre Land Site Near Indianapolis for Development of 1 MSF Industrial Building

by Kristin Harlow October 30, 2018

WHITESTOWN, IND. — CT Realty has purchased a 95-acre land site in Whitestown, about 20 miles northwest of Indianapolis. The purchase price was not disclosed. The developer plans to build a 1 million-square-foot building. Project costs are estimated at $50 million. CT acquired the land from GDI Cos., which is the master planner for the surrounding Crossroads Logistics Center. The project will be situated within a one-day drive of 57 percent of the U.S. population, according to CT. Completion is slated for late 2019. Terry Busch of CBRE represented GDI, which will serve as general contractor via its subsidiary GDI Construction. Busch is also handling lease-up of the building.

October 30, 2018

California Development Mixed-Use Top Stories Western

Manchester Financial Transforming Downtown San Diego with $1.5B Mixed-Use Project

by John Nelson October 30, 2018

SAN DIEGO — Manchester Financial Group has launched Manchester Pacific Gateway, a $1.5 billion redevelopment of the Navy Broadway Complex in downtown San Diego. Situated along the waterfront near San Diego’s central business district (CBD), the new 3 million-square-foot mixed-use complex will include a new 17-story, Class A office building that will house the U.S. Navy headquarters. “The Navy is excited to break ground on a new administrative building. The Navy and San Diego have had a strong, mutually beneficial relationship for over 100 years and this project is another important chapter in that history,” says Rear Admiral Yancy Lindsey, commander of the Southwest region of the Navy. Manchester Pacific Gateway will span eight city blocks and will serve as the gateway to the San Diego CBD and downtown tourism corridor. According to the developer, the project is the largest private waterfront development on the West Coast. The 13.5-acre development will feature the following elements: ➢ Block 1 of Manchester Pacific Gateway will include a nearly two-acre plaza; a 29-story, 467,000-square-foot office tower; 68,000 square feet of retail space; and a 198,000-square-foot luxury boutique hotel with 235 rooms. ➢ Block 2 will feature a 29-story, 1 million-square-foot convention center hotel …

October 30, 2018

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