development1

Skender Tops Out Construction of 21-Story Apartment Tower in Chicago’s River North

by Kristin Harlow February 7, 2023

CHICAGO — Skender has topped out construction of 741 N Wells, a 21-story apartment tower in Chicago’s River North neighborhood. Designed by Antunovich Associates and developed by VISTA Property, the project will include 168 units. Amenities will include a rooftop terrace with pool, meeting facilities, exercise area, bicycle storage and parking for roughly 50 vehicles. VISTA Property financed the project with a first mortgage loan from Huntington Bank. Luxury Living Chicago Realty is handling marketing and leasing. A timeline for completion was not provided.

February 7, 2023

Development Industrial Texas

Constellation Real Estate, Cadre to Develop 192,306 SF Spec Industrial Project in Houston

by Taylor Williams February 7, 2023

HOUSTON — A partnership between Texas-based developer Constellation Real Estate Partners and investment management firm Cadre will develop a 192,306-square-foot speculative industrial project in Houston. The site spans 20.8 acres at the northeast corner of Beltway 8 and Telephone Road, and the development will be known as Constellation Telephone. The development team, which includes Seeberger Architecture, plans to construct two buildings with 28-foot clear heights. Construction is scheduled to begin in the second quarter and to wrap up in the first quarter of 2024. Colliers advised Constellation on the land deal and has been retained as the leasing agent.

February 7, 2023

Acquisitions Hospitality New York Northeast

Hawkins Way, Vardë Acquire 655-Room Hotel in Midtown Manhattan

by Taylor Williams February 7, 2023

NEW YORK CITY — A joint venture between Hawkins Way Capital and Vardë Partners has acquired a 655-room hotel located at 525 Lexington Ave. in Manhattan’s Midtown East neighborhood. The 35-story, 406,261-square-foot building, which was shuttered at the time of sale, was originally constructed in 1922 and most recently housed a Marriott-branded operation. Jeffrey Davis, Gilda Perez-Alvarado, Stephany Chen and Bob Knakal of JLL represented the seller, global investment firm Deka Immobilien, in the transaction.

February 7, 2023

Development Florida Multifamily Southeast

Coral Rock to Develop 342-Unit Card Sound Key Apartments in Metro Miami

by John Nelson February 6, 2023

FLORIDA CITY, FLA. — Coral Rock Development Group has unveiled plans for Card Sound Key Apartments, a 342-unit multifamily community to be developed at 35800 S. Dixie Highway in Florida City, roughly 35 miles southwest of Miami. Upon completion, the development will comprise six four-story buildings, with units in one-, two- and three-bedroom layouts. Twenty percent of the units will be reserved for workforce housing, with the other 80 percent rented at market rates. Amenities at the community will include a Vita Course with several workout stations, a pool, barbecue area, two-story clubhouse, dog park, children’s playground and pickleball court. Construction of the project, which is designed by Pascual, Perez, Kiliddjian, Starr & Associates, is scheduled to begin in the first quarter of 2024. Completion is expected in early 2025.

February 6, 2023

The-District-at-1515-Parsippany-New-Jersey

Development Multifamily New Jersey Northeast

Partnership to Develop 498-Unit Multifamily Project in Parsippany, New Jersey

by Taylor Williams February 6, 2023

PARSIPPANY, N.J. — A partnership between Los Angeles-based PCCP LLC, Claremont Development and Stanbery Development will build The District at 1515, a 498-unit multifamily project in the Northern New Jersey community of Parsippany. The four-building development will include 58,866 square feet of retail space that will be marketed to a mix of full-service and fast casual restaurants, as well as fitness users and soft goods merchandisers. Residential amenities will include a pool, fitness center, lounge area, conference center and a pet spa. Completion is slated for early 2025.

February 6, 2023

Development Industrial South Carolina Southeast

GE Appliances to Open 584,820 SF Distribution Center in Greenville, South Carolina

by John Nelson February 3, 2023

GREENVILLE, S.C. — GE Appliances (GEA) has announced plans for a new 584,820-square-foot distribution facility located in Greenville. Provident Realty Advisors Inc. is the developer for the project. Situated within August Grove Business Park, the development is scheduled for completion in the first quarter of 2024. GEA plans to invest $50 million in the facility, which marks the company’s second location in the state.

February 3, 2023

Development Multifamily Texas

Sueba USA to Develop 292-Unit Multifamily Project in West Houston

by Taylor Williams February 3, 2023

HOUSTON — Locally based developer Sueba USA will build San Paseo, a 292-unit multifamily project that will be located just off Grand Parkway in West Houston. The community will offer 272 apartments in studio, one-, two- and three-bedroom floor plans, as well as 20 townhomes. Apartments will range in size 496 to 2,088 square feet and will feature stainless steel appliances, tile backsplashes and full-size washers and dryers. Private patios/balconies will also be available in select units. Townhomes will come in three-bedroom formats and will feature attached garages. Amenities will include a pool, spa, fitness center and an internet café. Construction will begin later this year, with preleasing set to commence in March 2024.

February 3, 2023

Development Indiana Industrial Midwest

Mohr Capital Expands Indiana Logistics Park by 1 MSF

by Kristin Harlow February 3, 2023

WHITELAND, IND. — Mohr Capital has expanded its Mohr Logistics Park in Whiteland with an additional building totaling more than 1 million square feet. More than 540,000 square feet is leased, and the remaining 513,000 square feet is under final lease negotiations. Mohr anticipates full occupancy by this summer. Mohr has another 1.5 million square feet currently under construction, and is pursuing build-to-suits for another 1.2 million square feet. The master plan calls for nearly 7 million square feet within the industrial park. The project team includes Pepper Construction, Curran Architecture and American Structurepoint. Mark Writt of CBRE is the leasing agent.

February 3, 2023

Development Industrial Northeast Pennsylvania

DHL Supply Chain Underway on 1 MSF Industrial Project in Annville, Pennsylvania

by Taylor Williams February 3, 2023

ANNVILLE, PA. — DHL Supply Chain, a developer and third-party logistics firm based in Germany, is underway on construction of a 1 million-square-foot industrial project in Annville, about 100 miles west of Philadelphia. The building will be located within Clear Springs Logistics Park and will feature a clear height of 40 feet, 100 dock doors, four drive-in doors, 246 car parking spaces (expandable to 339) and 230 trailer parking stalls. Harris Architects is the general contractor for the project, and Peak Construction Corp. is the general contractor. Warehaus is the civil engineer. Completion is slated for late in the third quarter.

February 3, 2023

Development Loans Multifamily Washington Western

First Citizens Bank Arranges $65.7M in Development Financing for Sparks Apartments in Redmond, Washington

by Amy Works February 3, 2023

REDMOND, WASH. — First Citizens Bank’s real estate finance group has arranged $65.7 million in financing for MainStreet Property Group to develop The Spark Apartments, a Class A multifamily project in Redmond. The asset will feature 211 units spread across two buildings divided by a public urban forest and connected by a sky bridge. Apartments will feature quartz countertops, stainless steel appliances, washers/dryers, air conditioning, and patios or balconies on 50 percent of the units. Community amenities will include an automated package room with contactless delivery, communal kitchen, food garden, mediation room, artist studio and fitness center. The property is being constructed using low-carbon concrete and will feature a rooftop solar system and carsharing partnership that will offset the building’s carbon footprint.

February 3, 2023

Newer Posts

Older Posts