DETROIT — Bedrock, in partnership with Pike Pointe Holdings LLC, has unveiled plans to redevelop 1300 Beaubien in Detroit’s Greektown neighborhood. The 240,000-square-foot building formerly served as the headquarters of the Detroit Police Department. The partnership plans to preserve the historic nature of the building, which dates back to 1921. The property has been vacant since the police department moved into its new headquarters in 2013. A development timeline has yet to be finalized.
MINNEAPOLIS — Timberland Partners has attained the land and financing needed to begin construction of Green on Fourth Apartments in Minneapolis near the University of Minnesota-Twin Cities campus. The $53.8 million, 243-unit project is a joint venture between Timberland Partners and Prospect Park Properties. Tushie Montgomery Architects is the project architect and Frana Cos. is the contractor. Dougherty Mortgage LLC arranged a $42.7 million loan for the construction of the project. Hennepin County, the city of Minneapolis and the Metropolitan Council provided additional financing. Timberland Partners plans to preserve public green space and coordinate with the city for a design that includes sidewalk furniture, bike lanes, pedestrian lighting and vegetation along Fourth Street. Building amenities will include a rooftop deck, fitness center, yoga studio, community room, playground and dog run. Floor plans will range from studios to three-bedroom units with penthouse options. Completion is slated for June 2019.
RIVERSIDE AND CHINO HILLS, CALIF. — Newcastle Partners has completed construction of the 503,592-square-foot Meridian Distribution Center II in Riverside. It is situated on a 26.9-acre land parcel at 22000 Opportunity Way. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield’s Ontario office are responsible for marketing the project. Newcastle also started construction of a 100,326-square-foot building in the Chino Hills Commerce Center in Chino Hills. The center is located at 15291 Fairfield Ranch Road and is situated on approximately 5 acres of land. David Consani, Jim Koenig and Jason Chao of CBRE are responsible for marketing the asset for sale or lease. Newcastle Partners has developed more than 5 million square feet of industrial product in the Inland Empire region over the past eight years.
MARSHALL COUNTY, MISS. — Mohr Capital, in conjunction with Panattoni Development Co., is underway on a 1 million-square-foot industrial warehouse for Cooper Tire & Rubber Co. in Marshall County, a Mississippi county within the Memphis MSA. The Findlay, Ohio-based company specializes in the design, manufacturing, marketing and sale of passenger car, truck, motorcycle and racing tires. Alston Construction is the general contractor for the project, and Pickering Firm Inc. is the architect. The new building, located within Panattoni’s Gateway Global Logistics Center, will be used to distribute Cooper Tire’s products directly to customers and supply its regional distribution centers. Gary Horn of Mohr Capital and Preston Thomas of Colliers International represented Cooper Tire in the lease negotiations, and Jim Mercer of CBRE represented Panattoni. The project represents a $50.5 million investment, according to local media reports. An affiliate of Gramercy Property Trust has acquired the land, is funding the development and will own the asset upon completion. The facility is slated for completion this fall and will become Cooper Tire’s largest distribution center in the United States.
CHARLOTTE, N.C. — Childress Klein, in partnership with Crosland Southeast and the B. Frank Matthews II Family, will break ground next month on The Nexus, a 154,000-square-foot, creative office building in south Charlotte. The six-story building will be the second creative office building at Waverly, the joint venture’s master-planned mixed-use development. The Remi Group, an equipment maintenance management provider, has preleased 31,000 square feet at The Nexus for its new corporate headquarters. Ben Speir of Cherry & Associates represented The Remi Group in the lease negotiations, while Travis Hart and Jenny Fowler represented Childress Klein internally. The Nexus will feature exposed ceilings, collaborative office space, a covered parking deck, bike storage, outdoor Wi-Fi-enabled meeting space and a connection to The Yard, Waverly’s master-planned park. In addition, the developers are seeking LEED certification. Wells Fargo will provide construction financing for the project. The design team includes general contractor Shelco and architect Rule Joy Trammell Rubio. The first creative office building at Waverly, The Hub, was delivered in August 2017. NN Inc., an industrial company, plans to relocate its global corporate headquarters to The Hub. Childress Klein has also signed leases with tenants including Esri, Horizon Investments, Axene and Tokai Carbon GE LLC. …
IRVING, TEXAS — HFF has arranged the capitalization of Gateway Logistics Center, a five-building, 1.4 million-square-foot industrial project underway within Dallas-Fort Worth (DFW) International Airport in Irving. The site is part of the 600-acre Passport Park mixed-use project that is also being developed at the southern end of the airport. Joe Thornton and Adam Herrin of HFF arranged a joint equity partnership between Dallas-based developer Bandera Ventures and Boston-based private equity firm Long Wharf Capital for the project. Thornton and Herrin also secured an undisclosed amount of construction financing from Bank of the Ozarks. Three of the buildings will range in size from 250,000 to 380,000 square feet and feature cross-dock configurations and 32- to 36-foot clear heights. The other two buildings will measure 200,000 to 250,000 square feet and feature rear-load configurations and 28- to 32-foot clear heights. Dallas-based FA Peinado will serve as general contractor. Delivery of the buildings is expected to begin this fall.
MOUNT PLEASANT, WIS. — Meridian Design Build has started construction on a 307,850-square-foot speculative industrial building in Mount Pleasant in southeast Wisconsin. The facility will feature a clear height of 32 feet, 40 loading docks, four drive-in doors, 242 auto parking spaces and 94 trailer stalls. The building will be able to accommodate up to six tenants. Land and Lakes Development is the project developer. Partners in Design is providing architectural services while Pinnacle Engineering is completing civil engineering work. A timeline for construction was not disclosed. This is the second project Meridian has constructed within the 60-acre Mount Pleasant Business Park. Land and Lakes Development sold the first building, which is leased to Goodwill Industries, to Zilber Property Group last year.
THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHC) has broken ground on Lake Woodlands Crossing, a 62,565-square-foot retail center in the northern Houston suburb of The Woodlands. The property is 65 percent preleased to tenants such as Ulta Beauty, Main Squeeze Juice Co. and Stickhouse, a gelato shop. Completion of the center, which will be located at the intersection of Lake Woodlands Drive and Grogan’s Mill Road, is slated for the fourth quarter.
HOUSTON — Levey Group, a family-owned industrial development firm, has completed a 64,850-square-foot distribution center within Northwest Place Industrial Park in Houston. The side-load facility can service a single tenant for be divided into leasehold spaces as small as 22,000 square feet. Facility features include 32-foot clear heights, dock-high loading doors and two ramps for grade-level building access. Two additional tilt-wall facilities are also being developed as part of Phase II of the project. CBRE is handling leasing of the property.
ATLANTA AND JEFFERSON, GA. — Crow Holdings Industrial (CHI), the industrial development affiliate of Dallas-based Crow Holdings, has broken ground on two industrial buildings in Atlanta and northeast Georgia. In Atlanta, the firm is constructing Southside Logistics Center, a 135,000-square-foot building located roughly three miles from Hartsfield-Jackson Atlanta International Airport. The building features 30-foot clear heights, 52-by-52-foot column spacing, 224 parking spaces and an ESFR sprinkler system. Mike Sutter and Rick Tumlin of Lee & Associates are handling the building’s leasing assignment. In Jefferson, roughly 60 miles northeast of Atlanta in Jackson County, CHI is underway on New Salem 85 Logistics Center. The cross-dock building totals 636,000 square feet and will feature up to 239 trailer spaces. Located less than a mile from Interstate 85, the building is suited for distribution and fulfillment users. Wit Truitt and Bob Currie of JLL are handling the property’s leasing assignment. In addition to the two new developments, CHI is also underway on Royal 85 Business Center in Union City, roughly eight miles from the Atlanta airport, and Braselton Point Logistics Center in the northeast Georgia city of Braselton. Once completed, CHI will have developed more than 1.5 million square feet of industrial space across …
