FORT WORTH, TEXAS — Hunt Southwest has begun construction on a 300,000-square-foot cold storage facility that will be located within Carter Industrial Park in Fort Worth. The facility is being developed on a speculative basis and is expected to be complete by March 2019. The property will feature 45-foot clear heights and has the capacity to be served by rail and to add more trailer storage. CBRE is marketing the facility to prospective tenants.
SANTA CLARITA, CALIF. — Trammell Crow Co. and Clarion Partners have started vertical construction on the first phase of The Center at Needham Ranch. The 54-acre business park is the first phase of a larger, 132-acre, fully entitled site with approvals for up to 4.2 million square feet of industrial and commercial space. Phase I of The Center at Needham Ranch will comprise an 869,760-square-foot, seven-building industrial park, offering Class A buildings ranging in size from 34,270 square feet to 209,559 square feet. Scheduled for occupancy in the first quarter of 2019, the first buildings of Phase I will feature 30-foot to 36-foot interior clear heights with ESFR fire sprinklers, abundant dock-high loading with large truck courts and yard areas, and abundant vehicle parking with capacity for above standard parking counts. The project is located at the southern entrance of the city of Santa Clarita, along Sierra Highway and Highway 14, south of Newhall Avenue and one mile from the intersection of Interstate 5 and Highway 14. The project team includes Oltman’s Construction Co., HPA Inc. and Alliance Land Planning & Engineering. CBRE’s Craig Peters and Doug Sonderegger are leasing agents for the property.
NASHVILLE, TENN. — The Pizzuti Cos. has received financing for the development of The Joseph Nashville, a 297-room hotel that will be located in Nashville’s SoBro neighborhood. Development costs for the Luxury Collection Hotel, part of Marriott International, total $168 million. MSF Real Estate Capital arranged construction financing for the development, which included an $83.5 million senior construction loan from Centennial Bank NA, a $42 million mezzanine construction loan provided by Brevet Capital Management and project equity from Pizzuti alongside institutional and private investors. Additionally, the project financing included a $4.5 million Tax Increment Financing Package with capital commitments made by Marriott and the Convention Center Authority. Located at the corner of Korean Veterans Boulevard and Fourth Avenue South, The Joseph Nashville will feature a restaurant and bar offering Italian cuisine, 18,000 square feet of banquet and meeting space, elevated outdoor terrace, full-service spa, fitness center and a pool deck with a bar. In addition, the hotel will include a 180-space parking garage dedicated to the exclusive use of the Nashville Symphony. The original Joseph Hotel opened in downtown Columbus, Ohio, in 2015. A construction timeline for the Nashville location was not disclosed.
ATLANTA — Gateway Ventures and Atlantic Capital Partners have unveiled plans to develop 8West, a mixed-use project located at the corner of Howell Mill Road and 8th Street in Atlanta’s West Midtown district. The project will include 175,000 square feet of office space, 10,000 square feet of retail developed in collaboration with Cartel Properties, 264 apartment units developed by Trammell Crow Residential and a 680-space parking garage. Existing retailers fronting 8West will be integrated into the project, including Bocado, Bartaco, Arden’s Garden and A Ma Maniere. In addition, the project will feature a 4,000-square-foot, west-facing art wall. The project developers will partner with Hathaway Gallery to engage local artists through an outreach program for both public art and building artwork. The nine-story development will feature outdoor terraces with 360-degree views of the city, a fitness center, bike storage, common collaborative spaces and conference facilities, an outdoor public plaza and podcast recording rooms. Harvest Capital Group and Ellis, McQuary & Stanley are the project’s equity investors. BL Harbert International is the general contractor, and MSTSD and ASD/Sky are the architects. Stephen Clifton and Zach Wooten of PMRG are handling the project’s leasing assignment. Gateway and Atlantic Capital expect to wrap up …
PHOENIX — Irwin G. Pasternack AIA + Associates PC (Pasternack + Associates) is developing TEN Distribution Center 1, a $300 million, 3.6 million-square-foot industrial park in Phoenix. Graycor Construction Co., serving as general contractor, has lifted and secured 68 of the 182 concrete panels that will make up the 1.1 million-square-foot first-phase building at the park. The concrete tilt panels are all prepared and cast on site by Graycor, which started roofing and fire sprinkler install sequencing this month. Additionally, the company has completed the first portion of the roof structure along with the installation of a 1.5-mile water main. The final panel lift, completing the east side of the building, is scheduled for mid-August. Completion of the first building is slated for December. When completed, TEN Distribution Center 1 will offer modern, cross-docked industrial space, 40-foot clear heights and high-volume trailer storage. The master plan for the industrial park totals more than 3.6 million square feet across six Class A industrial buildings ranging from 175,000 square feet to 1.1 million square feet and 15 retail, restaurant and service tenants.
PHOENIX — Wood Partners has celebrated the grand opening of its Alta Central, a multifamily community located at 4001 N. Central Ave. in Phoenix. Alta Central features 223 apartments in a mix of one-, two- and three-bedroom floor plans. Amenities include Amazon package lockers, electric car charging stations, complimentary Wi-Fi throughout the common areas and a lounge with a 13-foot television and NFL Sunday Ticket. Additional on-site amenities include a pool and spa with towel service; a rooftop pet area with a dog wash, grooming station and fenced dog run; a 24-hour fitness facility with spin room and yoga room; outdoor fire pit; and an outdoor game court.
HOUSTON — Hines has purchased 107 acres in northwest Houston from Maxaam Inc. with plans to build a new 1.5 million-square-foot mixed-use development. Houston-based Hines is currently completing design for the two-phase logistics park, now branded as Grand National Business Park. Situated at the corner of Sam Houston Tollway and Gessner Road near the Sam Houston Race Park, the project will include a logistics center, hotel and retail space. Phase I will consist of 500,000 square feet of logistics space. Jim Foreman and Allison Bergman of Cushman & Wakefield are leasing the project on behalf of Hines. No construction timeline or costs were disclosed.
SEATTLE — Áegis Living has opened the doors on Áegis at Ravenna, an assisted living and memory care community in Seattle’s Maple Leaf neighborhood. The property will feature 82 total units. The Ravenna name is a reference to both a neighboring Seattle neighborhood and a 19th-century opera house in Ravenna, Italy, the inspiration for the community’s design. The community features views of local landscapes, including Maple Leaf Reservoir Park, Waldo Woods and Lake Washington. Based in nearby Bellevue, Áegis Living operates 30 seniors housing communities in Washington, California and Nevada.
LAPORTE, IND. —The City of LaPorte Redevelopment Commission has selected Flaherty & Collins Properties to develop a 200-unit multifamily project in the city’s NewPorte Landing redevelopment project. Plans call for two buildings totaling approximately 167,000 square feet. Amenities will include a pool, outdoor courtyard, dog park, fitness center and bike storage. The apartment property represents a capital investment of more than $30 million, according to Flaherty & Collins. The LaPorte Redevelopment Commission is financing the project with tax-increment financing. Construction is set to begin next summer with completion in late 2020.
OVERLAND PARK, KAN. — The Opus Group and OPRE have broken ground on Edison District, a 125,000-square-foot mixed-use project in Overland Park. The five-story building is slated for completion in fall 2019. The property will feature office space in addition to a first-floor food hall and bar area. Coworking spaces will occupy the second floor and speculative office space will take up the remaining floors. Edison District will also include an outdoor event plaza. Tim Barton is the developer, with Opus Development Co. providing development support services. Opus Design Build is the builder and Opus AE Group is the interior designer, architect and structural engineer of record. AREA Real Estate Advisors will market the speculative office space for lease.
