development1

Trammell Crow, Allstate Sell 760,256 SF Industrial Facility in Metro Atlanta

by Camren Skelton January 4, 2018

MCDONOUGH, GA. — Trammell Crow Co. (TCC) and its partner, Allstate, have sold Phase II of King Mill Distribution Park, an approximately 1.6 million-square-foot industrial park in McDonough, roughly 30 miles southeast of Atlanta. Canadian REIT Pure Industrial Real Estate Trust (PIRET) acquired the 760,256-square-foot warehouse, located at 150 Distribution Drive. Frank Fallon, Chris Riley and Trey Barry of CBRE arranged the transaction on behalf of the joint venture. Other terms of the deal were not disclosed. The building features 36-foot clear heights, ample trailer storage, employee vehicle parking, ingress/egress with two separate entrances and the flexibility to accommodate multiple tenants. In May, TCC and Allstate sold the first phase of the development to American Realty Advisors. The 846,496-square-foot building is fully leased to Wayfair, a Boston-based e-commerce retailer specializing in home furnishings and décor.

January 4, 2018

Hospitality Texas

TGC Development Breaks Ground on TownePlace Suites by Marriott in Fort Worth

by John Nelson January 4, 2018

FORT WORTH, TEXAS — TGC Development Group has broken ground on TownePlace Suites by Marriott Fort Worth NW Lake Worth. The four-story, 96-room hotel will be situated northwest of downtown at 2925 Royalty Lane in Fort Worth. The general contractor, Wichita, Kan.-based JACO General Contractor Inc., expects to deliver the hotel this fall. The hotel’s rooms will feature full kitchens with stainless steel appliances and granite countertops, adjustable work spaces with built-in shelves and lighting, flat-screen TVs and new bedding. Amenities will include complimentary breakfast, outdoor grills and firepit, outdoor saltwater pool, coffee service, community refrigerator and a 24-hour sundries market.

January 4, 2018

Mixed-Use North Carolina Southeast

CBRE | Raleigh Closes $13.5M Sale of Land Site in Downtown Durham for Mixed-Use Project

by Camren Skelton January 3, 2018

DURHAM, N.C. — CBRE | Raleigh has arranged the $13.5 million sale of 4.2 acres of land located at 411 S. Roxboro St. in downtown Durham. LMC Durham Gateway Holdings LLC acquired the site with plans to develop a new mixed-use development. The site plan is approved to develop up to 212,239 square feet of office space with 9,260 square feet of ground-floor retail, 200 apartment units, a 155-room hotel with 20 condominium units and an additional 99,750 square feet of hotel or multifamily space. Chester Allen, Barry Bowling and Carlton Midyette III of CBRE | Raleigh arranged the transaction on behalf of the seller, Durham Partnership Group LLC. A construction timeline was not disclosed.

January 3, 2018

Multifamily Texas

JPI Breaks Ground on 364-Unit Apartment Community in Garland

by John Nelson January 3, 2018

GARLAND, TEXAS — JPI has begun construction on Jefferson Woodlands, a 364-unit apartment community located off President George Bush Turnpike in Garland, about 18 miles northeast of Dallas. The project’s units will range in size from 600 to 1,600 square feet and feature 10-foot ceilings, private patios and balconies and townhouse-style residences, as well as a competitive amenities package including fitness and yoga facilities. Jefferson Woodlands will be situated adjacent to the 33-acre Spring Creek Forest Preserve and near the CityLine and Telecom Corridor business parks. Also nearby is Firewheel Town Center, Simon’s 1 million-square-foot, open-air shopping development.

January 3, 2018

Hospitality Texas

Hilton Opens New Embassy Suites Hotel Near Houston

by John Nelson January 3, 2018

KATY, TEXAS — Hilton has opened Embassy Suites by Hilton Houston West-Katy, with all 208 rooms serving as two-bedroom suites. The hotel is owned by Mac Haik Hospitality and managed by Aimbridge Hospitality. Located at 16435 Katy Freeway near the west side of Houston’s Energy Corridor, the hotel’s amenities include the 350-person Texas Ballroom, a business center, indoor pool and whirlpool spa, full-service lobby bar, complimentary parking and Wi-Fi, 24-hour fitness center and access to George Bush Park hiking trails located behind the hotel.

January 3, 2018

Healthcare Texas

Adolfson & Peterson Completes Medical Office Building in Southlake

by John Nelson January 3, 2018

SOUTHLAKE, TEXAS — Adolfson & Peterson Construction (AP) has completed a new medical office building at the corner of Tower and Southlake boulevards in Southlake for United Surgical Partners Inc. (USPI). Designed by E4H Architects, the two-story medical office building spans 46,000 square feet. The healthcare facility is the fifth project that AP has contracted with USPI and its ninth project with E4H. USPI is an ambulatory healthcare provider serving more than 2.5 million patients each year and partnering with over 50 not-for-profit health systems nationwide. The Addison, Texas-based company currently operates more than 260 ambulatory surgery facilities, 92 urgent care centers and 23 imaging centers.

January 3, 2018

Midwest Missouri Multifamily

Draper and Kramer Opens Second Phase of Apartment Property in Suburban St. Louis

by Kristin Harlow January 2, 2018

RICHMOND HEIGHTS, MO. — Draper and Kramer Inc. has opened The Flats at EVO in the St. Louis suburb of Richmond Heights. The collection of 46 townhome-inspired rental apartments is the second phase of EVO, a multifamily property that also includes an adjacent four-story, 281-unit apartment complex that opened in 2016. The 46 units include one-, two- and three-bedroom floor plans ranging from 764 to 1,465 square feet. Rents range from $1,375 to $2,570. Currently, renters will receive one month of free rent when signing a 13-month lease. Amenities at the property include an outdoor pool deck with grills, dog spa, fitness room, yoga studio and business center.

January 2, 2018

Industrial Texas

Dollar General to Build 1 MSF Distribution Center in Longview

by John Nelson January 2, 2018

LONGVIEW, TEXAS — Dollar General Corp. plans to build a nearly 1 million-square-foot distribution center in Longview, its second in Texas and 17th nationwide. The new property is expected to create 400 full-time jobs and serve roughly 1,000 Dollar General stores in Texas and the Southeast. Goodlettsville, Tenn.-based Dollar General has selected Clayco as the project’s general contractor, Leo A. Daly as the architectural engineering firm and Elan Design as the civil engineering firm. The development team plans to break ground on the new distribution center in the first quarter. Dollar General currently has more than 1,400 stores and over 12,000 employees in Texas alone. The company has 15 distribution centers that are located in Alabama, California, Florida, Georgia, Indiana, Kentucky, Mississippi, Missouri, Ohio, Oklahoma, Pennsylvania, South Carolina, Texas (San Antonio), Virginia and Wisconsin. The company’s 16th distribution center in Amsterdam, N.Y., is currently under construction.

January 2, 2018

Hospitality Oklahoma Texas

NewcrestImage Opens 142-Room AC Hotel in Oklahoma City’s Bricktown District

by John Nelson January 2, 2018

OKLAHOMA CITY — NewcrestImage has opened a five-story, 142-room AC Hotel in Oklahoma City’s historic Bricktown neighborhood. NewcrestImage used modular construction to build the new AC Hotel, a first for both the Dallas-based company and Oklahoma City’s hotel market. Modular construction is a building technique where a project is constructed in sections off-site and assembled together on-site. The new hotel features 800 square feet of meeting space, a fitness center, business center, fine dining restaurant and a European-style bar and lounge. The hotel is located adjacent to the 13,000-seat Chickasaw Bricktown Ballpark — home of the Oklahoma City Dodgers baseball team — and within a few blocks of the Cox Convention Center.

January 2, 2018

Multifamily New York Northeast Seniors Housing

Capitol Seniors Housing Plans $35M Community Near New York City

by Amy Works December 22, 2017

GREENBURGH, N.Y. — Capitol Seniors Housing has unveiled plans for Stonegate at Greenburgh, an assisted living and memory care community in the New York City suburb of Greenburgh. Northbridge Companies will operate the 101-unit property. Development costs are estimated at $35 million for the three-story, 90,651-square-foot community. Meyer Design of Ardmore, Pa., designed both the exterior and interior of the community, and will seek LEED designation. The property is located on the former site of Frank’s Nursery & Crafts, which was acquired by the town of Greenburgh in a 2011 tax foreclosure. The 6.9-acre community is scheduled to open in the first quarter of 2019. The community will be Capitol’s first in New York State. The Washington, D.C.-based, private equity-backed real estate acquisition, development and investment management firm has successfully acquired or developed more than 90 senior housing communities since its founding in 2003. The company has nine additional communities currently under construction in Maryland, Illinois and New Jersey.

December 22, 2017

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