development1

Avison Young Negotiates Sale of 42.6-Acre Site in Charlotte, Buyer Plans 420,000 SF Industrial Project

by Camren Skelton June 29, 2018

CHARLOTTE, N.C. — Avison Young has negotiated the sale of a 42.6-acre site near the Norfolk Southern intermodal facility in Charlotte. The buyer, The Silverman Group, plans to develop a 420,000-square-foot industrial facility at the site, which is located at Charlotte Douglas International Airport, less than a mile from the $96 million Charlotte Regional Intermodal Facility. Dubbed the Charlotte Intermodal Logistics Center, the new facility will feature 36-foot clear heights and cross-docking designed to suit a single tenant or multiple tenants. The intermodal facility at the airport is capable of handling up to 200,000 lifts annually and is part of the Southern Crescent project, Norfolk Southern’s capital improvement project for its rail transportation network. Chris Skibinski, Chris Loyd and Henry Lobb of Avison Young arranged the land sale on behalf of The Silverman Group. Avison Young will also handle the property’s leasing assignment. A construction timeline for the project was not disclosed.

June 29, 2018

Development Healthcare Southeast Tennessee

Rendina Breaks Ground on 120,000 SF Medical Facility in Germantown, Tennessee

by Camren Skelton June 28, 2018

GERMANTOWN, TENN. — Rendina Healthcare Real Estate has broken ground on a new 120,000-square-foot medical facility for Campbell Clinic in Germantown, roughly 21 miles southeast of Memphis. The Tennessee-based orthopaedic clinic currently offers care at five outpatient clinics and two ambulatory surgery centers. The new facility will be located adjacent to Campbell Clinic’s existing orthopaedics building, which will be renovated in conjunction with the new construction. The new building will include an ambulatory surgery center with eight operating rooms, an outpatient orthopaedic clinical space and an expanded physical therapy and sports performance area. Rendina expects to wrap up construction on the four-story building by fall 2019.

June 28, 2018

Development Illinois Midwest Restaurant Retail

Craft Brewery to Anchor New Mixed-Use Development in Chicago

by Kristin Harlow June 28, 2018

CHICAGO — Craft brewery 5 Rabbit Cerveceria has signed a 12,000-square-foot lease to be the first retail tenant at Mural Park in Chicago’s Pilsen neighborhood. The Latin American-inspired brewery will anchor the property and occupy 5,000 square feet on the ground floor and 7,000 square feet in the basement for its brewing operation. The brewery is slated to open in early 2019. Jose Gonzalez and Joaquin Manriquez of JLL represented the landlord, Condor Partners, in the lease transaction. Mural Park is an office and retail redevelopment of two 100,000-square-foot loft buildings. The development is the starting point for El Paseo, a four-mile trails project that will connect Pilsen, Little Village and University Village.

June 28, 2018

Development Midwest Office Ohio

Chard Snyder Opens New Corporate Headquarters in Mason, Ohio

by Kristin Harlow June 28, 2018

MASON, OHIO — Chard Snyder, a third-party administrator of employee benefit solutions and wholly owned subsidiary of Ascensus, has opened its new corporate headquarters in Mason, about 25 miles north of Cincinnati. The 53,000-square-foot office property, located at 6867 Cintas Blvd., will house the company’s 170 team members with room to accommodate growth. Chard Snyder previously occupied space in Deerfield Township. Ascensus is a technology-enabled retirement, education and healthcare solutions provider. Al. Neyer was the general contractor.

June 28, 2018

California Development Industrial Western

CapRock Partners Breaks Ground on 18-Acre Industrial Park in Inland Empire West

by Amy Works June 28, 2018

JURUPA VALLEY, CALIF. — Newport Beach, Calif.-based CapRock Partners has broken ground on Serrano Business Park in Jurupa Valley within the Inland Empire corridor. Situated on 18 acres, the three-building industrial development will feature units ranging from 31,220 square feet to 179,030 square feet and deliver 327,000 square feet of modern industrial space to the market. Each building will offer two percent prism skylights and can provide up to 4,000-amp, 277/480-volt electrical power. Additionally, the properties will meet sustainability standards consistent with California Green Building Standards Code. To complement tenant needs, the project will incorporate 4,500 square feet of executive office space positioned between the three buildings. The facilities will also include a minimum door clearance of 32 feet and ample secured parking and truck courts. Serrano Business Park is scheduled for delivery in 2019.

June 28, 2018

Development Illinois Midwest Multifamily

CRG Nears Completion of 132-Unit Apartment Building in Chicago

by Kristin Harlow June 27, 2018

CHICAGO — CRG, Clayco’s private real estate development firm, is nearing completion of A.M. 1980, a 132-unit apartment building in Chicago’s Bucktown neighborhood. Located at 1980 N. Milwaukee Ave., the project spans 110,000 square feet. A.M. 1980, which is named for its address at the intersection of Armitage and Milwaukee avenues, features studio, one- and two-bedroom units. Amenities include a fitness center, coffee bar, package storage, dog run, rooftop deck and 6,000 square feet of retail space. Monthly rents start at $1,500 for studios. Construction began in the summer of 2017. Clayco is the design-builder and its subsidiary, BatesForum, is the architect. Residents are expected to begin moving in later this summer.

June 27, 2018

Development Hospitality Midwest Wisconsin

Janko Hospitality Opens Hyatt Place Hotel in Milwaukee’s Brewery District

by Kristin Harlow June 27, 2018

MILWAUKEE — Janko Hospitality has opened a new Hyatt Place hotel at The Brewery District in Milwaukee. The 150-room, six-story hotel is located one block away from the new Milwaukee Bucks arena. The Brewery District is situated on the former home of the Pabst Brewing Complex. The select-service hotel boasts more than 1,700 square feet of meeting space and a fitness center. This is the first Milwaukee hotel to be operated by Janko Hospitality, which manages other select and full-service properties throughout the Midwest.

June 27, 2018

Development Healthcare Mixed-Use Texas

Mesquite City Council Approves $250M Medical, Mixed-Use Campus

by Taylor Williams June 27, 2018

MESQUITE, TEXAS — The City Council of Mesquite, an eastern suburb of Dallas, has approved the development of The Verde Center at Peachtree, a $250 million medical campus and mixed-use development. Minneapolis-based Ryan Cos. USA Inc., along with several partners, will develop the 60-acre project, the first phase of which will deliver 600,000 square feet of medical inpatient, outpatient and office space. Later phases will feature a 25-acre amenity center with walking trails and a fitness center. Other elements of the project will include a hotel and conference center and a senior living community. Construction of Phase I is expected to commence by mid-2019.

June 27, 2018

Development Multifamily Texas

Howard Hughes to Develop 386-Unit Apartment Community in The Woodlands

by Taylor Williams June 26, 2018

THE WOODLANDS, TEXAS — Howard Hughes Corp. will develop a 386-unit apartment community in The Woodlands, located about 30 miles north of downtown Houston. The lakefront property, which will offer one-, two- and three-bedroom units, will feature ground-floor retail and restaurant space. Amenities will include a pool, fitness center, yoga room, sky lounge on the top floor and free kayaks and bikes for resident use. Construction is expected to be complete by spring 2020.

June 26, 2018

Development Illinois Midwest Mixed-Use

Fifield, Terraco Begin Development of Logan’s Crossing Mixed-Use Project in Chicago

by Kristin Harlow June 26, 2018

CHICAGO — Fifield Realty Corp. and Terraco Real Estate have begun development of Logan’s Crossing, a mixed-use project in Chicago’s Logan Square neighborhood. Located at 2500 N. Milwaukee Ave., the development will include 220 apartment units and 62,000 square feet of retail space, including a 27,000-square-foot Target store. The property will span two buildings connected by a sky bridge. Amenities for apartment residents will include a sun terrace, pool, dog run, bocce ball court, fitness center, coffee bar and conference center. The project is being constructed on the site of the former Mega Mall indoor flea market, which was demolished in January 2017. Move-ins are slated for November 2019, with Target’s opening expected in summer 2020. Antunovich Associates is the project architect and Focus Construction is the general contractor.

June 26, 2018

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