development1

Cracker Barrel Old Country Store Opens First California Location

by Nellie Day February 6, 2018

VICTORVILLE, CALIF. — Cracker Barrel Old Country Store has opened its newest location in Victorville, which is the first Cracker Barrel store to open in the Golden State. The restaurant combines dining and shopping. Each Cracker Barrel location is decorated with authentic artifacts, memorabilia and signage collected by a team of Americana experts. In Victorville, Cracker Barrel’s new store celebrates the history and culture of the local area through decorative walls that pay homage to the famous Route 66, the area’s contributions to the film industry and to California’s Gold Rush era. Guests can also shop in the old country store for toys, games, food items, apparel, accessories and other items. Cracker Barrel Old Country Store Inc. was established in 1969 in Lebanon, Tenn. Cracker Barrel and its affiliates operate 649 company-owned Cracker Barrel Old Country Store locations in 45 states and own the fast-casual Holler and Dash restaurants.

February 6, 2018

Florida Mixed-Use Retail Southeast

Encore Signs First Tenants to Retail Portion of $750M Mixed-Use Project in Orlando

by Camren Skelton February 6, 2018

ORLANDO, FLA. — Encore Capital Management has unveiled the first retailers to join the 200,000-square-foot SunsetWalk at Margaritaville Resort Orlando. SunsetWalk will anchor the $750 million, 300-acre Margaritaville Resort development. At full build-out, the project will feature a 187-room Margaritaville hotel, 900 resort rental homes, 300 timeshare units and a 12-acre waterpark. The project is currently under construction near U.S. Highway 192 and State Road 429, across the street from Disney’s Animal Kingdom. The largest tenant to join SunsetWalk is Studio Movie Grill, a 40,000-square-foot theater that will feature 12 screens and more than 1,000 recliners. GameTime will also join the development, opening a 24,000-square-foot entertainment center that will include a restaurant, sports bar, video arcade games, prize machines and more than 60 TVs. Country band Rascal Flatts will open a themed restaurant at the development that will feature a full-service bar, live entertainment and retail space. In addition, Rock & Brews — a restaurant associated with musicians Gene Simmons and Paul Stanley — will join SunsetWalk. Other confirmed tenants at the development include Skechers, Bahama Bucks, Avalon Day Spa, Café Rio, Cold Stone Creamery, Paradise Spirits and Wine and BugerFi. The first phase of SunsetWalk is expected to open in November.

February 6, 2018

Mixed-Use Texas

Cielo Breaks Ground on Mixed-Use Project in East Austin

by Taylor Williams February 6, 2018

AUSTIN, TEXAS — Cielo Property Group has broken ground on The Foundry, a mixed-use project in east Austin that will comprise 76,000 square feet of office space and 17 condo units, 11 of which are already under contract. DPR Construction, the general contractor for the project, has preleased 30,000 square feet at the three-story office property. Independent Bank provided the construction loan for the development, which is scheduled to open in March 2019. Sixthriver Architects designed the office building. CBRE will handle leasing of the property.

February 6, 2018

Restaurant Retail Texas

Private Investor to Develop 31,500 SF Food Hall, Parking Garage in Downtown Houston

by Taylor Williams February 6, 2018

HOUSTON — An undisclosed private investor will develop Lyric Market, a 31,500-square-foot food hall that will be located at the corner of Louisiana and Preston streets in downtown Houston. The development includes the construction of an 801-space parking garage. Set to open this fall, the concept will include a bakery, sushi bar, ice cream shop and wine and cocktail bars. Matthew Putterman of HFF arranged an undisclosed amount of construction financing on behalf of the developer through Origin Bank.

February 6, 2018

Industrial New York Northeast Office

Barone Management Breaks Ground for 100,000 SF Spec Development in Long Island City

by Amy Works February 6, 2018

NEW YORK CITY — Barone Management, as developer and contractor, has broken ground for a speculative development located at 9-03 44th Road in Long Island City. The three-story, 100,000-square-foot building will feature office and industrial/flex space, as well as frontage on four streets and city and water views. Designed by JLS Designs, the project is slated for completion in September 2019. CBRE has been retained as the exclusive leasing agent for the project.

February 6, 2018

Illinois Midwest Office

GlenStar to Undertake $28M Redevelopment of 1 MSF Office Property in Schaumburg, Illinois

by Kristin Harlow February 6, 2018

SCHAUMBURG, ILL. — GlenStar Properties will undertake a $28 million redevelopment of Schaumburg Corporate Center in Illinois. Plans call for the construction of a new parking deck that can accommodate 500 autos and a temperature-controlled skybridge; nine modern speculative suites ranging in size from 1,700 square feet to 33,000 square feet; a 10,000-square-foot conferencing center; a club room with ping pong, pool and foosball tables; a new spiral staircase; and a new entry. GlenStar will also update the lobbies, elevators, deli and signage. The centerpiece of the complex, the 17,000-square-foot glass atrium, will be outfitted with new finishes, furniture and fixtures. The developer will also add a large video screen and update the ceilings and lighting. The project is slated for completion by the end of this year. GlenStar acquired Schaumburg Corporate Center in March 2017. Developed in the early 1980s, the property consists of three separate buildings for a combined 1 million square feet. The property is 74 percent leased by tenants such as Pepsi, Verizon Wireless, Motorola Employees Credit Union, American Agricultural Insurance Co. and Roanoke Insurance Group.

February 6, 2018

Retail Texas

Topgolf Opens 65,000 SF Venue in El Paso

by Taylor Williams February 5, 2018

EL PASO — Dallas-based Topgolf has opened a 65,000-square-foot, three-level venue in the Mesa Hills neighborhood on El Paso’s north side. The El Paso venue is the company’s 10th in Texas and its 52nd in the country, including facilities opening soon in markets such as Albuquerque, Columbus, Miami, Pittsburgh and St. Louis. More than 500 full- and part-time employees were hired in advance of the opening.

February 5, 2018

Alabama Hospitality Southeast

White-Spunner Construction to Deliver $15M Hampton Inn & Suites Near Mobile

by Camren Skelton February 5, 2018

SARALAND, ALA. — Mobile-based general contractor White-Spunner Construction is underway on a new 101-room Hampton Inn & Suites in Saraland, roughly 12 miles north of Mobile. The $15 million hotel will replace a previous Hampton Inn that closed in 2017, and will be one of the first to feature the newest Hampton design for the brand. In addition, the hotel will feature 900 square feet of meeting space, an outdoor pool, fitness center, sundry shop and a business center. The hotel is expected to open in October.

February 5, 2018

Hospitality Kansas Midwest

TGC Completes $1.9M Interior Renovation of 82-Room TownePlace Suites in Wichita, Kansas

by Kristin Harlow February 5, 2018

WICHITA, KAN. — TGC Development Group has completed a $1.9 million interior renovation of the TownePlace Suites by Marriott Wichita East. The 82-room, extended-stay hotel is located at 9444 E. 29th St. Renovations include fully updated guest rooms and new furniture, flooring and décor in the lobby. The hotel is designed for travelers who need accommodations for longer stays, including fully equipped kitchens and separate working areas. Wichita-based SBA Construction was the general contractor for the project. TGC manages the hotel.

February 5, 2018

Affordable Housing Loans Massachusetts Multifamily Northeast

Trinity Financial Receives $17.1M in Financing for Affordable Housing Project in Lawrence, Massachusetts

by Amy Works February 2, 2018

LAWRENCE, MASS. — An affiliate of Trinity Financial has received $17.1 million in financing for the development of an affordable housing community in Lawrence. MassHousing has provided a $14 million conduit bridge loan, $1.2 million in permanent financing and $1.9 million in workforce housing funds for the project. Trinity Financial will transform the former Van Brodie Mill into a 102-unit mixed-income housing community. Designed by ICON Architecture, the property will contain eight studio apartments, 25 one-bedroom apartments, 56 two-bedroom apartments and 13 three-bedroom apartments. Aberthaw Construction is the contractor and Trinity Management will manage the completed property. The adaptive reuse project will preserve the historic former mill, while remediating a brownfield site. Constructed in 1919 by the Arlington Mills company, the Van Brodie Mill originally manufactured yarn for wool and flannel. By the 1950s, the Arlington Mills company has closed and the Van Brodie Mill was operated by a company that shifted production to food products, including packaged breakfast cereals and rations for the military.

February 2, 2018

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