development1

Capstone Development Opens Three Student Housing Communities in California, Seattle Totaling 980 Beds

by Amy Works October 25, 2018

BIRMINGHAM, ALA. — Birmingham-based Capstone Development Partners has opened five on-campus student housing communities totaling 3,000 beds, including two in California and one in Seattle. Development costs reached $350 million, $150 million of which was financed using private equity, with the remaining $200 million financed through a 501(c)3 nonprofit owner or a university using tax-exempt debt. Properties include Montage on College at San Diego State University in San Diego; Calaveras Hall at the University of the Pacific in Stockton, Calif.; Vi Hilbert Hall at Seattle University in Seattle; The Village Phase 2 at The University of South Florida in Tampa, Fla.; and the University of Massachusetts Boston Residence Hall and Dining Center in Boston. Montage on College at San Diego State University was built through a ground lease with the San Diego State University Real Estate Foundation. The property offers more than 300 beds of apartment-style housing. Community amenities include a resort-style spa, barbecue area, outdoor lounge and fire pit, community kitchen, fitness center, gaming and media room, and various study spaces. Capstone Development Partners’ management entity, Capstone Management Partners, operates the property. Calaveras Hall at the University of the Pacific offers 380 beds tailored to upper-level students. Shared amenities …

October 25, 2018

Development Office South Carolina Southeast

Holder Properties Completes 172,000 SF Corporate Campus in Charleston

by Amy Works October 24, 2018

CHARLESTON, S.C. — Holder Properties has completed the development of a corporate campus in Charleston’s Daniel Island submarket for Blackbaud, a provider of software and services for the global philanthropic community. The 172,000-square-foot property features open workspaces, private offices, employee lounges, conference rooms, classrooms, team rooms, a game room, full-service kitchen, cafeteria and a Starbucks café. Exterior amenities include two terraces, a timber-framed pavilion, putting green, bocce ball court, employee garden, activity field and a full-length basketball court. ASD | SKY designed the property, which was built by Balfour Beatty. JLL provided tenant support services for the campus. The building’s interior is designed to LEED Gold standards with energy-saving technologies, like solar panels, HVAC automation, LED lighting and low-flow plumbing fixtures.

October 24, 2018

Development Michigan Midwest Multifamily Student Housing

Spectra Student Living Breaks Ground on $17M Community in Big Rapids, Michigan

by Kristin Harlow October 24, 2018

BIG RAPIDS, MICH. — Spectra Student Living has broken ground on Eight Thirty Water Tower, a $17 million community near Ferris State University in Big Rapids. Slated to open in August 2019, the student housing property will include 318 beds within 120 units. Floor plans will consist of one-, two- and four-bedroom units. Amenities will include a clubhouse, resident lounge and YouTube room. Spectra will manage the property in partnership with Athens, Ga.-based Landmark Properties. More than 14,730 students are enrolled at Ferris State University.

October 24, 2018

Arizona Development Healthcare Office Western

Ware Malcomb Completes Construction of Medical Office in Metro Phoenix

by Amy Works October 24, 2018

GOODYEAR, ARIZ. — Ware Malcomb has announced the completion of Arizona Desert Ear, Nose & Throat Specialists, a medical office located at 13555 W. McDowell Road in Goodyear, a suburb of Phoenix. Ware Malcomb provided interior architecture and design services for the project. The redesigned 5,200-square-foot property features seven exam rooms, four offices, a sinus procedure room, allergy testing room, audio room, instrument cleaning room, conference room and break room. Design features include sliding barn doors for the conference room, a prominent work surface for the medical assistant station, a spacious waiting room and a check-in/out desk that doubles as a workroom behind a built-in bookshelf. Aksarben served as general contractor for the project.

October 24, 2018

Industrial Loans New Jersey Northeast

CBRE Arranges $19.5M Refinancing for Industrial Property in South Brunswick, New Jersey

by David Cohen October 23, 2018

SOUTH BRUNSWICK, N.J. — CBRE has arranged a $19.5 million refinancing for a soon to be completed 305,598-square-foot industrial facility in South Brunswick. Located at 2270 Route 130, the property has been leased to regional last-mile delivery company Lasership. James Gunning, Donna Falzarano and Kyle Saviano of CBRE arranged the loan on behalf of borrower, 2270 Route 130 LLC. The lender was undisclosed. The building features 40-foot clear heights, 46 dock doors and 68 trailer parking spaces.

October 23, 2018

Colorado Development Multifamily Seniors Housing Western

CA Senior Living Starts Construction of 137-Unit Seniors Housing Community in Metro Denver

by Amy Works October 23, 2018

WESTMINSTER, COLO. — CA Senior Living LLC has started construction of Atria Westminster, a five-story, 137-unit senior living community in Westminster, approximately 10 miles northwest of Denver. When complete, Atria Westminster will offer 107 assisted living apartments, 30 memory care studios, and a single-story dining and amenity wing. Assisted living units will range in size from 410-square-foot studios to 970-square-foot two-bedrooms, while memory care studios will range from 275 to 310 square feet. Designed by OZ Architects and built by Brinkmann Constructors, Atria Westminster is located less than a half-mile from a variety of shopping, dining and entertainment offerings. Louisville, Ky.-based Atria Senior Living has been retained as the operator for the community. The property is expected to open in early 2020. CA Senior Living is the seniors housing investment and development division of Chicago-based CA Ventures. The company currently has 22 communities operating or under construction throughout the U.S. Atria Westminster will be the fourth CA Senior Living property operated by Atria Senior Living.

October 23, 2018

Development Industrial Loans South Carolina Southeast

Courtland Group Receives $19.5M Loan, JV Equity for 436,800 SF Warehouse Development in Upstate South Carolina

by Amy Works October 23, 2018

SPARTANBURG, S.C. — Courtland Group has received $19.5 million in construction financing, as well as joint venture equity from JDI Realty, for the development of Fort Prince Distribution Center, a bulk industrial warehouse building in Spartanburg. Travis Anderson, Chris Norvell, Cory Fowler, Trent Niederberger and Patrick Nally of HFF arranged the joint venture equity and placed the five-year construction loan with CrossHarbor Capital Partners on behalf of Courtland Group. The 436,800-square-foot Fort Prince Distribution Center will feature 36-foot clear heights, 66 dock doors and two automatic drive-in doors in a cross-dock configuration. Situated on 56 acres in the city’s West Side industrial submarket, the property’s location offers access to interstate 85 and 26, enabling tenants to reach more than 95 million consumers within a day’s drive and direct interstate access to import/export goods through the Port of Charleston.

October 23, 2018

Development Georgia Industrial Southeast

FedEx Ground to Open 500,000 SF Distribution Center in Braselton, Georgia

by Amy Works October 22, 2018

BRASELTON, GA. — FedEx Ground, a subsidiary of FedEx Corp., has developed a new distribution center located at 350 Braselton Parkway in Braselton, about 50 miles northeast of Atlanta. The 500,000-square-foot facility is part of the company’s network expansion plan that includes the addition of 17 major hubs and 500 facilities either expanded or relocated since 2005. A ribbon-cutting ceremony for the facility is scheduled for Thursday, Oct. 25. The building will open with more than 350 employees, and FedEx Ground plans to add positions as the demand for service grows. The new facility will be able to sort up to 15,000 packages per hour. FedEx Ground has 105,000 employees, more than 600 distribution hubs and local pickup-and-delivery stations and 63,000 motorized vehicles operated by 5,600 locally owned small businesses to transport more than 8.3 million packages daily. The daily volume of packages that FedEx Ground handles has more than doubled in the past 10 years.

October 22, 2018

Development North Carolina Office Southeast

Dominion Realty Partners Set to Break Ground on 209,000 SF Office Building in West Raleigh

by Amy Works October 22, 2018

RALEIGH, N.C. — Dominion Realty Partners is breaking ground on the newest office building at The Offices at Wade in West Raleigh. Development for Wade V will commence on Tuesday, Oct. 23, at 5438 Wade Park Blvd. The six-story, 209,000-square-foot office building has been designed to achieve LEED Gold certification and marks the Dominion Realty’s 21st green certified development. PGIM Real Estate is partnering with Dominion Realty on the project, which Triangle Business Journal reports will cost $62 million to develop. The media outlet is also reporting that the project is being built on a speculative basis.

October 22, 2018

Development Florida Industrial Southeast

Foundry Commercial, Miller Construction to Develop Two Industrial Buildings in South Florida Totaling 318,043 SF

by Amy Works October 22, 2018

DORAL, FLA. — Foundry Commercial, with Miller Construction Co. as general contractor, is developing two new Class A industrial buildings totaling 318,043 square feet at Miami Central Commons, a business park located at 2301 N.W. 107th Ave. in Doral. Both buildings are scheduled for completion in mid-2019. The $20.6 million tilt-wall construction project is creating 155,350 square feet of showroom space with Building 1 and 162,693 square feet of industrial distribution space with Building 2. Designed by Boca Raton, Fla.-based RLC Architects, the facilities will feature 32-foot clear heights, 54-foot column spacing and a 60-foot speed bay. Part of the construction process includes the relocation of the main entry and security check-in area, as well as the entire parking area around the existing buildings. Miller Construction is demolishing the park’s original 1980’s administration and security check-in building as the site is being reconfigured to accommodate Building 2.

October 22, 2018

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