development1

NorthPoint to Develop 252,272 SF Speculative Industrial Building in Hazelwood, Missouri

by Kristin Harlow June 7, 2018

HAZELWOOD, MO. — NorthPoint Development has unveiled plans for a 252,272-square-foot speculative industrial building within the newly created Hazelwood TradePort in suburban St. Louis. The facility, featuring a clear height of 36 feet, is slated for completion this fall. Hazelwood TradePort is a 325-acre development with the potential for up to 4 million square feet of new construction. Brian Bush and Jon Hinds of CBRE are marketing the new building and future construction at the park for lease. Brinkmann Constructors is the general contractor for the project.

June 7, 2018

California Development Industrial Western

Panattoni to Develop 232,000 SF Industrial Project in Orange County, California

by Amy Works June 7, 2018

ANAHEIM AND PLACENTIA, CALIF. — Panattoni Development Co., along with Principal Real Estate Investors, has broken ground on Orange County Commerce Center, a four-building industrial campus located in Anaheim and Placentia. Totaling 232,000 square feet, the center will feature four buildings ranging in size from 47,813 square feet to 69,882 square feet. Each building will feature two stores of executive office space, 30-foot minimum warehouse clearance, ESFR sprinkler systems, dock-high and grade-level loading, and fully secured concrete truck courts. Construction began in late April and completion is slated for early first quarter 2019. The development is located at 711 and 721 S. Van Buren St. in Placentia, and 1365 and 1367 S. Van Buren St. in Anaheim. Panattoni acquired the 10-acre land parcel in 2017, according to DAUM Commercial’s Chris Migliori, who directed the sale.

June 7, 2018

Development Multifamily North Carolina Southeast Student Housing

Eyzenberg & Co. Selects Greystar to Develop 850-Bed Student Housing Community Near UNC Chapel Hill

by Camren Skelton June 6, 2018

CHAPEL HILL, N.C. — Eyzenberg & Co. has selected Greystar to develop Grove Park, an 850-bed student housing community located at 425 Hillsborough St. in Chapel Hill, a half-mile from the University of North Carolina (UNC) at Chapel Hill campus. Eyzenberg arranged the 12.3-acre ground lease for the project, which is currently home to an existing 111-unit apartment community. Other terms of the deal were not disclosed. The community will include a mix of apartment units and townhomes, and will feature study spaces, a swimming pool, fitness facilities, five-level parking garage and a rooftop deck. Townhouse Apartments LLC, owned by the Segar Family, which also owns the land, developed the project concept, managed the design, coordinated the entitlement and delivered the permits. Greystar expects to break ground on the community this summer and deliver the project prior to the 2020-2021 school year.

June 6, 2018

Development Industrial Texas

Duke Realty Breaks Ground on 635,000 SF Distribution Center in Metro Fort Worth

by Taylor Williams June 6, 2018

FLOWER MOUND, TEXAS — Duke Realty Corp. has broken ground on a 635,000-square-foot distribution center in Flower Mound, a northern suburb of Fort Worth. The building, which is slated for a May 2019 delivery, will feature a cross-dock configuration and 36-foot clear heights. Approximately 450,000 square feet, or 71 percent of the space, has been preleased to PPG Industries Inc., a Pittsburgh-based supplier of architectural paints and coatings.

June 6, 2018

Development Illinois Industrial Midwest

PREMIER Completes 197,000 SF Industrial Build-to-Suit in Waukegan, Illinois

by Kristin Harlow June 6, 2018

WAUKEGAN, ILL. — PREMIER Design + Build Group LLC has completed an industrial build-to-suit for Visual Pak Cos. in Waukegan. The 197,000-square-foot facility features a clear height of 32 feet, 9,500 square feet of office space, 30 exterior truck docks and 244 car parking spaces. Visual Pak provides solutions in the contract packaging industry. The project team also included Cornerstone Architects Ltd., Manhard Consulting Ltd., Swift Structural Design, MVP Plumbing, MK Industries and Connelly Electric.

June 6, 2018

Development Georgia Loans Multifamily Southeast

Cushman & Wakefield Secures $37.8M Construction Financing for Multifamily Project on Atlanta’s Upper Westside

by Camren Skelton June 5, 2018

ATLANTA — Cushman & Wakefield has secured $37.8 million in construction financing for the development of Vue at the Quarter, a 271-unit multifamily community that will be located at 2048 Bolton Drive N.W. in Atlanta’s Upper Westside submarket. Mike Ryan, Brian Linnihan, Richard Henry and Blake Cohen of Cushman & Wakefield arranged a $32.8 million senior loan through Ameris Bank and $5 million in preferred equity through RSE Capital Partners on behalf of the project developer, GJ Enterprises Acquisitions. The 359,000-square-foot community will include five four- and five-story buildings. GJ Enterprises expects to wrap up construction on the project in May 2020.

June 5, 2018

Development Illinois Midwest Office

McDonald’s Opens New Global Headquarters in Chicago’s West Loop

by Kristin Harlow June 5, 2018

CHICAGO — McDonald’s Corp. has opened its new corporate headquarters in Chicago’s West Loop neighborhood. The move marks a return to Chicago where the company was headquartered from 1955 to 1971. McDonald’s was most recently headquartered in Oak Brook, Ill. In addition to the approximately 2,000 employees based there, the property will house the flagship Hamburger University location, providing state-of-the-art learning for the company’s employees and future leaders. The new headquarters features open floor plans, a 700-person conference center, work cafe, fitness center and outdoor terraces. The ground floor is home to a one-of-a-kind McDonald’s restaurant that features a rotating menu of favorites from around the globe. Sterling Bay developed the building, while Gensler served as architect of record. IA Interior Architects and Studio O+A designed the interiors. McHugh & ECI Executive Construction Inc. were the general contractors.

June 5, 2018

Development Office Texas

Charles Schwab Opens 50-Acre Office Campus in North Austin

by Taylor Williams June 4, 2018

AUSTIN, TEXAS — San Francisco-based financial services firm Charles Schwab Corp. has opened a new 50-acre campus within the Gracy Farms community in north Austin. According to the Austin Business Journal, the campus is valued at approximately $200 million. The property spans 469,000 square feet and feature two five-story office buildings. Amenities include walking trails, on-site yoga classes, a cafeteria, 275-seat auditorium and a Schwab bank branch for employees. The campus will house about 1,900 of the firm’s Austin employees. Construction of an additional office building and second parking garage is slated to begin this summer. Charles Schwab first came to Austin in 2000.

June 4, 2018

Development Florida Industrial Southeast

Xebec to Build $39.3M Logistics Facility in Central Florida

by Camren Skelton June 4, 2018

LAKELAND, FLA. — Dallas-based developer Xebec has acquired 60 acres in the Central Florida community of Lakeland with plans to develop a $39.3 million regional bulk logistics facility. The 533,000-square-foot building will be designed to meet demand from retailers, distributors and third-party logistics providers. Users will be able to reach 19 million consumers within a 200-mile radius of the project and be within an hour drive from three international airports. The facility will feature 40-foot clear heights, a 185-foot truck court with 114 docks, 367 car parking spaces and 102 container parking spaces. Xebec plans to break ground on the building in the fourth quarter, and wrap up construction in the third quarter of 2019.

June 4, 2018

Development Midwest Office Wisconsin

Irgens Begins Construction of BMO Tower in Downtown Milwaukee

by Kristin Harlow June 4, 2018

MILWAUKEE — Irgens has begun construction of BMO Tower in downtown Milwaukee. Four concrete pumps poured 6,700 cubic yards of concrete over the weekend to create the foundation for the 380,000-square-foot office tower. Completion is slated for late 2019. Located at 770 N. Water St., the tower will rise 20 stories. BMO Harris Bank and Michael Best have signed leases at the property. Colliers International is the leasing agent, J.H. Findorff & Son is the general contractor and Kahler Slater is the architect.

June 4, 2018

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