development1

Hudson Pacific, Macerich to Redevelop Westside Pavilion Mall in Los Angeles to Office Space for $450M

by Jeff Shaw March 6, 2018

LOS ANGELES — Hudson Pacific Properties (NYSE: HPP) and Macerich (NYSE: MAC) have formed a joint venture to redevelop Westside Pavilion, a 600,000-square-foot shopping mall located in west Los Angeles, into creative office space. The project is expected to cost between $425 and $475 million. At completion, the development will be home to 500,000 square feet of state-of-the-art creative office space, while retaining 100,000 square feet of existing entertainment retail space. The 12-screen Landmark Theatres, Westside Tavern restaurant and other shops primarily located on the ground floor will remain in the reconfigured space, according to reports by the Los Angeles Times. Anchor Macy’s is set to close at the end of this month, and Nordstrom left the property last year to open at Westfield Century City. Project completion is scheduled for summer 2021. Hudson Pacific will hold a 75 percent stake in the property, and will act as managing member, day-to-day operator and developer. Macerich will hold the remaining 25 percent. “Westside Pavilion is a perfect opportunity for us to reposition a marquee asset in a premier location,” says Victor Coleman, chairman and CEO of Hudson Pacific. “The project is poised to capture the strong demand from tenants for creative office …

March 6, 2018

Industrial Texas

Rent the Runway to Open 300,000 SF Distribution Center in Arlington

by Taylor Williams March 5, 2018

ARLINGTON, TEXAS — Rent the Runway, a New York City-based online clothing rental company, will open a 300,000-square-foot distribution center along West Bardin Road in Arlington, according to the City of Arlington. Development of the facility, which is slated to open at the end of the year, is expected to create an additional 600 construction jobs over the next 12 months. A general contractor has not yet been named to the project, which represents Rent the Runway’s second distribution center in the United States, the first being located in Secaucus, N.J.

March 5, 2018

Massachusetts Multifamily Northeast

Samuels & Associates Opens Residential Tower in Boston

by Amy Works March 5, 2018

BOSTON — Samuels & Associates, in partnership with Landsea, has announced the grand opening of Pierce Boston, a residential tower located at the intersection of Brookline Avenue and Boylston Street in Boston’s Fenway-Kenmore neighborhood. Designed by Arquitectonica, the 30-story tower features 190 condominium units, 240 apartment units and more than 20,000 square feet of street-level dining and retail space. Amenities at the tower include The Levity Lounge, a top-floor lounge with sky top pool, seating areas, a private dining room and a library; a 24/7 doorman and concierge service; a fitness room with yoga studio; parking and private sky cabanas for purchase.

March 5, 2018

Arizona Multifamily Seniors Housing Western

LCS, Westminster Funds Start Construction of 44-Unit CCRC Expansion in Phoenix

by Nellie Day March 5, 2018

PHOENIX — A joint venture between Life Care Services and Westminster Funds has broken ground on Desert Willow Assisted Living, a 44-unit assisted living building on the campus of Sagewood, a continuing care retirement community (CCRC) in Phoenix. Located within Sagewood’s Acacia Health Center, the assisted living expansion will be available to those currently in the community as well as new residents. The building will add to Sagewood’s current 316 units. The two-story building is scheduled to open in fall 2018. Todd & Associates is serving as the architect on the project. Spellman Brady & Co. is providing interior design. The Weitz Company is the general contractor.

March 5, 2018

Nevada Restaurant Retail Western

DC Building Group Completes Taco Bell in Downtown Las Vegas

by Nellie Day March 5, 2018

LAS VEGAS — DC Building Group, a Las Vegas-based general contractor, has completed a new Taco Bell location on East Charleston Boulevard in Las Vegas, marking the first Taco Bell in downtown Las Vegas. Architect Gary Guy Wilson designed the project. The project is the second of this particular design prototype in the Las Vegas area. DC Building Group used rusted metal on the corner sign façade and horizontal silver aluminum on the slat wall for its metal aesthetics. The wall has back-lit LEDs to illuminate purple EIFS creating a branded purple glow at night. Founded in 2001, DC Building Group is a general contracting firm with a focus on the Western U.S.

March 5, 2018

Midwest Minnesota Multifamily

Timberland Partners to Develop $63.7M Apartment Project Near Minneapolis

by Kristin Harlow March 5, 2018

EDEN PRAIRIE, MINN. — Timberland Partners is developing Elevate at SouthWest Station Apartments in Eden Prairie, 12 miles southwest of downtown Minneapolis. The firm has closed on the land and financing needed to begin construction on the $63.7 million, 222-unit apartment property. Situated immediately adjacent to the future SouthWest Light Rail Station, Elevate will feature amenities such as a rooftop courtyard, fitness center, yoga studio, co-working lounge, bike storage, dog run and spa. Completion is slated for August 2019. The project team includes Kaas Wilson Architects and contractor Frana Cos. JLL arranged a $49.7 million HUD loan for the project. Hennepin County, the City of Eden Prairie and the Metropolitan Council also provided financing.

March 5, 2018

Illinois Industrial Midwest

Ridge Completes 186,000 SF Spec Industrial Building in Bartlett, Illinois

by Kristin Harlow March 5, 2018

BARTLETT, ILL. — Ridge, the industrial arm of Transwestern Development Co., has completed construction of a 186,000-square-foot speculative industrial building within Brewster Creek Business Park. Located at 1365 Brewster Creek Blvd. in Bartlett, Ridge Brewster Creek II features a clear height of 32 feet, 35 loading docks, two drive-in doors and 212 car parking spaces. Darcie Fankhauser of Ridge led the project team, which also included Triumph Construction Services Corp., Harris Architects Inc. and Eriksson Engineering Associates Ltd. Brewster Creek Business Park is a 670-acre, mixed-use business park about 40 miles west of Chicago.

March 5, 2018

Office Southeast Virginia

Apex Clean Energy Unveils Plans for New Headquarters at 130,000 SF Office Project in Charlottesville

by Camren Skelton March 5, 2018

CHARLOTTESVILLE, VA. — Apex Clean Energy has unveiled plans for its new corporate headquarters at a planned 130,000–square-foot office building in downtown Charlottesville. The move allows the company to consolidate more than 170 employees currently spread across multiple office buildings in the area. Apex Clean Energy, which develops, constructs and operates wind and solar power facilities across North America, will occupy 60,000 square feet of office space and lease the remaining space to other tenants. In addition, the seven-story building — to be located on Garrett Street — will include 10,000 square feet of ground-floor retail. John Pritzlaff of Cushman & Wakefield | Thalhimer arranged the lease on behalf of Apex Clean Energy. Riverbend Development, the project developer, plans to deliver the building 24 months after construction kicks off this summer. Architecture firm William McDonough + Partners is designing the project.

March 5, 2018

Florida Multifamily Southeast

TriBridge, Sefira Capital to Open $49M Apartment Community in Jacksonville

by Camren Skelton March 5, 2018

JACKSONVILLE, FLA. — Atlanta-based TriBridge Residential LLC, in partnership with Miami-based Sefira Capital, will soon deliver The Jaxon, a 287-unit apartment community located at 4450 Tropea Way in Jacksonville. Slated to open this summer, the property is situated across the street from St. Johns Town Center, Jacksonville’s premier outdoor mall and retail corridor. The $49 million apartment community will offer a mix of studio to three-bedroom units with granite countertops, built-in Bluetooth speakers and custom finishes. Community amenities will include a Vegas-style swimming pool with cabanas and rain curtain, a party porch, dog park, dog wash station and a 24-hour package delivery system with refrigerated storage.

March 5, 2018

Alabama Mixed-Use Retail Southeast

Dave & Buster’s to Open at $350M MidCity Development in Huntsville

by Camren Skelton March 5, 2018

HUNTSVILLE, ALA. — RCP Cos. has signed Dave & Buster’s to its MidCity project, a $350 million mixed-use development under construction in Huntsville. The 140-acre project is a redevelopment of the former Madison Square Mall. Dave & Buster’s joins tenants such as Topgolf, which opened in December; High Point Climbing and Fitness, currently under construction; and Adrenaline Zone, which is expected to break ground this summer. The 26,500-square-foot Dave & Buster’s is expected to open in July 2019 and will be the entertainment retailer’s second location in Alabama. At full build-out, MidCity will include 345,000 square feet of street-level retail and restaurant space, 200,000 square feet of office space, 500 hotel rooms and 900 residences. In addition, the development will include a 38-acre public park.

March 5, 2018

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