development1

GBT Unveils Tenant Roster, Plans for Shopping Center Redevelopment in Port Charlotte, Florida

by Camren Skelton February 21, 2018

PORT CHARLOTTE, FLA. — GBT Realty Corp. has unveiled the tenant lineup and renovation plans for Port Charlotte Marketplace, a shopping center redevelopment project in Port Charlotte, roughly 40 miles south of Sarasota. Located at Tamiami Trail/US Highway 41 and Cochran Boulevard, the nine-acre site formerly housed a vacant 108,500-square-foot Kmart. Brentwood, Tenn.-based GBT acquired the 75-year ground lease last fall. Redevelopment plans include a complete renovation of the former Kmart building with an updated façade, the addition of two small shop buildings and new signage, paving and landscape. Signed tenants include a 40,000-square-foot Burlington, a 20,000-square-foot HomeGoods and a 7,500 square foot national shoe store. The center is approximately 76 percent leased, with 15,000 square feet available. Tenants are expected to open at the development this fall. The second phase of the project will include an additional 62,000 square feet of retail and restaurant space on the parcel’s five acres.

February 21, 2018

Multifamily Texas

Cypress to Develop 294-Unit Apartment Community in Uptown Dallas

by Taylor Williams February 20, 2018

DALLAS — Cypress Real Estate Advisors Inc. will develop a 294-unit apartment community at 4600 Ross Ave. in the Uptown district of Dallas. Oden Hughes Taylor Construction is serving as general contractor for the project and JHP Architects is designing the community, which is expected to break ground this quarter. The target completion date is early 2020. Steve Williamson of Transwestern brokered the sale of the 3.8-ace land parcel, which previously housed the headquarters of the Dallas Teacher Credit Union and Credit Union of Texas.

February 20, 2018

Retail Texas

Star Cinema Grill to Open 49,500 SF Theater in Metro Houston

by Taylor Williams February 20, 2018

SPRING, TEXAS — Star Cinema Grill will open a 49,500-square-foot theater and restaurant within CityPlace at Springwoods Village, a 60-acre mixed-use development in the northern Houston metro of Spring. The 10-screen theater, which is expected to open during the second quarter of 2019, will be the company’s 10th overall location. Other projects currently under construction at CityPlace at Springwoods Village include office campuses for the American Bureau of Shipping (ABS) and Hewlett Packard (HP), as well as a Marriott-branded hotel.

February 20, 2018

Loans Mixed-Use Multifamily North Carolina Retail Southeast

Williams Realty, Partners Receive Construction Loan for Mixed-Use Project in Raleigh’s CBD

by Camren Skelton February 20, 2018

RALEIGH, N.C. — Williams Realty & Building Co., in conjunction with Kane Realty Corp. and capital partner Lionstone Investments, has received construction financing for the development of a high-rise mixed-use project in Raleigh’s central business district. Colby Mueck, Roger Edwards and Travis Anderson of HFF arranged the construction loan through New York Life Insurance Co. Other terms of the financing were not disclosed. The property is located at the southwest corner of West Peace and North West streets, next to the future 16-acre Devereux Meadows Park. The first phase of the project will include a 45,600-square-foot Publix store, 5,340 square feet of inline retail space, 417 multifamily units and a 735-space structured parking garage. The residential portion will include studio to three-bedroom units averaging 898 square feet. The development team expects to deliver the first phase in mid-2019. Future phases will include additional residential and retail space, along with office and hotel space.

February 20, 2018

Industrial South Carolina Southeast

Miller-Valentine Breaks Ground on 200,000 SF Spec Industrial Building in Columbia

by Camren Skelton February 20, 2018

COLUMBIA, S.C. — Miller-Valentine Construction has broken ground on Midway Logistics III, a 200,000-square-foot speculative industrial building located in Columbia’s 350-acre Lexington County Industrial Park. Magnus Development Partners is developing the project. The building, designed for distribution and light manufacturing tenants, will feature 30-foot clear heights, LED lighting, an ESFR sprinkler system, 21 dock doors, two drive-ins and entries for tenant offices. In addition, the site is designed to allow for a shared dock apron to support a future distribution facility on an adjacent lot. The project is on a 30-week construction schedule. In November, Miller-Valentine completed construction on the nearby Midway Logistics II. Lexington County Industrial Park is home to tenants such as Husqvarna, JamPak, Home Depot and Republic National Distributing Co. Colliers International is handling leasing for Midway Logistics III.

February 20, 2018

Retail Texas

Rubicon Begins Work on 45,000 SF Retail Center in Metro Houston

by Taylor Williams February 19, 2018

SUGAR LAND, TEXAS — Rubicon Realty Group LLC has begun work on The Crossing at Telfair, a 45,000-square-foot retail center located at the intersection of State Highways 6 and 90 in the southwestern Houston metro of Sugar Land. Tenants will include H-E-B, Jersey Mike’s, Whataburger, Navy Federal Credit Union and AT&T. Delivery is slated for this fall.

February 19, 2018

Industrial Midwest Wisconsin

Meridian Completes 48,200 SF Warehouse Expansion for GE Healthcare in Oak Creek, Wisconsin

by Kristin Harlow February 19, 2018

OAK CREEK, WIS. — Meridian Design Build has completed construction of a 48,200-square-foot warehouse expansion for GE Healthcare in Oak Creek, about 15 miles south of Milwaukee. The facility now totals 328,028 square feet. The project features LED lighting, six loading docks and two doors connecting the new space to the existing building. GE Healthcare uses the building as a repair operations center, and the expansion will be utilized to house spare and repaired parts for the company’s equipment. Construction began in late August 2017 and was completed in January. Harris Architects provided architectural services while Pinnacle Engineering completed civil engineering work. Exeter Property Group owns the building.

February 19, 2018

Multifamily Texas

Novare, Batson-Cook Begin Work on 25-Story Apartment Tower Within Frisco Station

by Taylor Williams February 16, 2018

FRISCO, TEXAS — A partnership between two Atlanta-based firms, Novare Group and Batson-Cook Development Co. (BCDC), has begun work on SkyHouse Frisco Station, a 332-unit multifamily tower that will be located within the Frisco Station mixed-use development north of Dallas. The 25-story building will offer studio, one-, two- and three-bedroom units and amenities such as a rooftop deck, resort-style pool, 24-hour fitness center, business center with a coffee bar, conference room, and an outdoor kitchen with lounge seating. The development is the second multifamily project under construction at Frisco Station behind Station House, a 301-unit community whose first residences will become available for occupancy this summer. SkyHouse Frisco Station is slated for a 2019 completion.

February 16, 2018

Florida Industrial Southeast

Bridge Development, Partners Break Ground on 221,542 SF Industrial Building in Fort Lauderdale

by Camren Skelton February 16, 2018

FORT LAUDERDALE, FLA. — Bridge Development Partners, in a joint venture with Akard Street Partners LP, Banner Oak Capital Partners LP and Elion Partners, has broken ground on Bridge Point Riverbend, a 221,542-square-foot industrial building in Fort Lauderdale. The building is under construction at the intersection of Interstate 95 and Broward Boulevard. The joint venture acquired the 12-acre site in July for $10.4 million and secured $16.6 million in financing to develop the project. The speculative industrial building will feature 32-foot clear heights, rear-dock loading, an ESFR sprinkler system and a 1.4 to 1,000 parking ratio. The building will have the flexibility to accommodate tenants starting at 40,000 square feet.

February 16, 2018

Illinois Midwest Mixed-Use

Hubbard Street Nears Completion of Second Phase of Mixed-Use Development in Chicago

by Kristin Harlow February 16, 2018

CHICAGO — Hubbard Street Group is nearing completion of the second phase of Wicker Park Connection in Chicago’s Wicker Park neighborhood. Phase II consists of a 15-story, 146-unit apartment building and is expected to open this June. Phase I, a 60-unit apartment building, was completed in 2016. A small-format Target store, totaling 12,800 square feet, is slated to open in the retail portion of Phase I this summer after recently receiving formal approval from the area community group. Hubbard Street is dedicating nearly one-third of the development’s 2.5 acres for open space, featuring a public plaza.

February 16, 2018

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