development1

SunCap to Develop 213,200 SF Industrial Building in Upstate South Carolina

by Camren Skelton July 19, 2018

SPARTANBURG, S.C. — SunCap Property Group has acquired 18 acres on Tyger Lake Road in Spartanburg, with plans to develop a 213,200-square-foot industrial building. Dubbed Spartan Exchange, the Class A facility will feature 32-foot clear heights, 22 dock doors, two drive-in doors and trailer parking. The building will be divisible to 54,080 square feet to accommodate a range of tenant sizes. Garrett Scott, John Montgomery and Brockton Hall of Colliers International represented SunCap in the land transaction, and will be responsible for the leasing and management of the project. Edifice is the general contractor, and Ware Malcomb is the project architect. Spartan Exchange will be located roughly 10 miles from the Inland Port Greer and Greenville-Spartanburg International Airport.

July 19, 2018

Development Multifamily Single-Family Rental Texas

AHV, Bristol Group Underway on 250-Home Rental Community in San Antonio

by Taylor Williams July 18, 2018

SAN ANTONIO — A partnership between two California-based firms, AHV Communities and Bristol Group Inc., is underway on Pradera, a project in San Antonio that will deliver single-family homes exclusively for rent. The gated community will be located near the Alamo Ranch development on the city’s west side and feature 250 three- or four-bedroom residences with private front and backyards. The project will also deliver an amenity center with a clubhouse, community kitchen, pool, fitness center, a dog park and walking trails. Preleasing will begin during the third quarter and move-ins are expected to commence during the fourth quarter.

July 18, 2018

Development Illinois Midwest Multifamily

Opus Begins Construction of 113-Unit Luxury Apartment Project in Des Plaines, Illinois

by Kristin Harlow July 18, 2018

DES PLAINES, ILL. — The Opus Group has begun construction of a 113-unit luxury apartment project in Des Plaines. Located at 1555 Ellinwood Ave., the transit-oriented development will feature 1,400 square feet of ground-floor retail space. The project is a joint venture with Berkshire Group. Amenities will include a fitness center, yoga studio, clubroom, dog spa, outdoor amenity deck and bike storage. One- and two-bedroom units will vary in size. The property is being constructed on the former Sim’s Bowl site, which closed in 2009 and demolished two years later, according to the Daily Herald. Opus Development Co. is the developer while Opus Design Build is the builder. Opus AE Group is the structural engineer and ESG Architects is the architect. Completion is slated for the second quarter of 2019.

July 18, 2018

Development Georgia Industrial Southeast

CRG, Pope & Land Enterprises to Develop 8.5 MSF Industrial Project Along Metro Atlanta’s I-85 South Corridor

by Camren Skelton July 17, 2018

NEWNAN, GA. — CRG, in partnership with Pope & Land Enterprises Inc., has unveiled plans to develop The Cubes at Bridgeport, a 560-acre industrial project located along the Interstate 85 South Corridor in Newnan. At full build-out, the park will include 8.5 million square feet of industrial space. The development is located near both CSX and Norfolk Southern railroads, roughly 30 miles from Hartsfield-Jackson Atlanta International Airport and approximately five miles from Newnan-Coweta County Airport. The first phase of the development will include a 1 million-square-foot speculative building with 40-foot clear heights, trailer storage and car parks. The building will be capable of handling warehousing, e-commerce and manufacturing tenants. Phase I will also include infrastructure improvements such as ramp upgrades, a new signalized intersection on Highway 29 and a public parkway and overpass above the CSX main line. Other planned infrastructural improvements include water lines, two miles of new sanitary sewer and electric utility improvements. Clayco is the design-builder for the project and its subsidiary, BatesForum, is the architect. Developers expect to wrap up construction on the first building at the project in December 2018. Chris Tomasulo and Steve Grable of JLL are handling The Cubes’ leasing assignment.

July 17, 2018

Development Industrial South Carolina Southeast

Red Rock to Break Ground on First Phase of Smith Farms Industrial Park in Upstate South Carolina

by Camren Skelton July 17, 2018

SPARTANBURG, S.C. — Red Rock Developments will soon break ground on the first phase at Smith Farms Industrial Park in Spartanburg County. The Columbia, S.C.-based developer first unveiled plans for the 5.9 million-square-foot project, located at the intersection of Highway 101 and Reidville Road, in March. Phase I will include two speculative buildings totaling 610,000 square feet. Building I will be a 400,000-square-foot, cross-dock facility that will suit the needs of warehouse/distribution users. The second building will be a rear-load facility totaling 210,000 square feet. The building will be suited for non-distribution or smaller tenants, according to Red Rock. Smith Farms is located roughly three miles from Interstate 85, providing access to BMW’s Spartanburg plant, Greenville-Spartanburg International Airport and the Greer Inland Port. Red Rock expects to wrap up construction on the first two buildings in the second quarter of 2019. NAI Earle Furman is handling the project’s leasing assignment.

July 17, 2018

Development Midwest Minnesota Multifamily

Kraus-Anderson, Inland Break Ground on $53M Apartment Project in Richfield, Minnesota

by Kristin Harlow July 17, 2018

RICHFIELD, MINN. — Kraus-Anderson and Inland Development Partners have broken ground on a $53 million apartment project in Richfield, about nine miles south of Minneapolis. The three-story, 316-unit property will be located at 6745 18th Ave. The project includes six buildings, three of which are new construction. Approximately 20 percent of the units will be designated as affordable housing. Dougherty Mortgage arranged HUD financing for the project. The City of Richfield sold the property to the developers. Kraus-Anderson Construction is the general contractor. The first units are slated to open in the fall of 2019.

July 17, 2018

Development Multifamily Seniors Housing Texas

Tradition Breaks Ground on 23-Story Seniors Housing Property in Houston

by Taylor Williams July 16, 2018

HOUSTON — Tradition Senior Living has broken ground on The Tradition-Woodway, a 23-story seniors housing property that will be located in the Tanglewood area of Houston. The community will feature 222 independent living residences and 92 assisted living/memory care units. Amenities will include lounges and card rooms, a movie theater, indoor golf simulator, indoor pool, fitness center, dog park and a putting green. Jackson & Ryan Architects is handling design of the project and D.E. Harvey Builders is serving as general contractor. The opening is scheduled for April 2020.

July 16, 2018

Development Florida Hospitality Southeast

Hilton, Epelboim Break Ground on 259-Room Tru Hotel in Orlando

by Camren Skelton July 16, 2018

ORLANDO, FLA. — Hilton Hotels, in partnership with Epelboim Development Group, has broken ground on a new Tru by Hilton property in Orlando. The 259-room, eight-story hotel is located along Westwood Boulevard and will be the largest Tru property to date upon completion in the fourth quarter of 2019. Tru by Hilton hotels feature 24/7 markets, workspaces, game rooms, fitness centers, complimentary breakfast and digital keys. Epelboim is currently in the final stages of building an EVEN hotel in Miami, and is developing two EVEN hotels in Georgia.

July 16, 2018

Development Illinois Industrial Midwest

Meridian Completes 75,000 SF Industrial Build-to-Suit in Chicago

by Kristin Harlow July 16, 2018

CHICAGO — Meridian Design Build has completed construction of a 75,000-square-foot industrial build-to-suit for Banner Wholesale Grocers in Chicago. The new facility is located on the north bank of the Chicago River at 2639 S. Damen Ave. The property features a clear height of 36 feet, LED lighting, a fully air-conditioned sales floor, freezer space, eight loading docks and a covered van platform with 16 loading positions. Banner Wholesale Grocers has been servicing independent grocers since 1926. Schmidt Design Inc. provided architectural services while Kimley-Horn performed civil engineering work. Baker Development Corp. was the developer.

July 16, 2018

California Development Hospitality Loans Western

George Smith Partners Arranges $32.4M Development Financing for 250-Room Hotel in Southern California

by Amy Works July 13, 2018

COACHELLA, CALIF. — George Smith Partners has arranged $32.4 million in financing for the ground-up development of a IHG Hotel Indigo in Coachella. The borrower and developer is Glenroy Coachella. Steven Bram, David Pascale and Huber Bongolan Jr. of George Smith Partners arranged a $24.4 million senior construction loan and $8 million PACE funding for the hotel. The hotel will be the first new construction hotel project financed by PACE in California. The PACE equity, essentially an energy loan, finances the energy-efficient HVAC, lighting, windows, water systems and seismic strengthening. Situated on 35 acres, the casitas-style resort hotel will feature 250 guest rooms with private entrances and en-suite bathrooms; 13,000-square-foot convention center; 10,000-square-foot salt water pool with a summer cooling system and a DJ booth/catwalk; and an 11-acre playground to host music-related events, wellness retreats and corporate/private events. Many of the guest rooms are located in two-, four- and six-bedrooms casitas with living rooms and social areas for entertaining. Additionally, the hotel will feature a restaurant, spa, gym and yoga/Pilates studio. A timeline for construction was not disclosed.

July 13, 2018

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