PHOENIX — A joint venture between Confluent Development and DPC Cos. has announced plans to develop a 225,000-square-foot spec industrial development in Phoenix. The project will be situated in the Sky Harbor International Airport submarket. The JV acquired a former grocery warehouse building, which will be torn down ahead of construction. This is Confluent Development’s first ground-up development in the market.
GLENWOOD SPRINGS, COLO. — A joint venture between Stoneleigh Cos. and Realty Capital Management has acquired 3.8 acres of land to build The Lofts at Red Mountain Apartments, an 85-unit apartment community with ground-floor retail in Glenwood Springs. The land is situated at south of Wulfsohn Road, adjacent to the Glenwood Meadows Market Street and Shopping Center. The Lofts at Red Mountain has an on-site RFTA bus stop, situated next to the Glenwood Springs Community and Recreation Center. It is also adjacent to the Glenwood Springs trail system. The developers have already broken ground on Phase I, with completion scheduled for early 2019. RVC Construction is building the project, which KCB Architecture designed. SunGate Capital Funding 7 LLC, Stoneleigh Cos. LLC and Realty Capital Partners provided equity financing.
FORT WORTH, TEXAS — Greystar will develop Elan at River District, a 341-unit multifamily community that will be located roughly 10 minutes from downtown Fort Worth. Designed by Houston-based Meeks + Partners, the project will consist of 325 apartment units ranging in size from 491 to 1,268 square feet and 16 townhome units that measure up to 2,031 square feet. Amenities will include a lounge/game room, fitness wing, pool area with an outdoor kitchen and a media room. Construction is expected to be complete by the first quarter of 2018.
HARTWELL, GA. — Nestlé Purina PetCare Co. has unveiled plans to deliver a $320 million manufacturing facility and distribution center in Hartwell, a city in northeast Georgia. Purina, a global producer of pet products, currently employs more than 8,000 individuals in the U.S., including an existing factory southwest of Atlanta in Fairburn. The Hartwell site will be the company’s first new U.S. factory in 20 years and will create up to 240 jobs over the next five years. Joshua Stephens of the Georgia Department of Economic Development represented the organization’s Global Commerce division throughout the project. Stephens worked in collaboration with the Hart County Industrial Development Authority and Georgia Power. Nestle Purina’s distribution center operations are expected to begin in 2018, with production to follow in 2019. Leading Purina brands include Purina ONE, Dog Chow, Friskies, Tidy Cats and Pro Plan.
DERBY, KAN. — MedProperties Holdings LLC, CarrBaierCrandall Real Estate Group (CBC) and Candor Healthcare LLC have formed a joint venture to develop Rock Regional Hospital in Derby, a southern suburb of Wichita. The 31-bed, 89,500-square-foot facility will be located near Rock Road and Patriot Avenue on a 15-acre parcel. The site includes two additional land parcels for future healthcare facilities, such as a medical office building and a freestanding inpatient rehabilitation hospital. Other development team partners include architect ACI Boland, general contractor McCownGordon Construction and engineer Renaissance Infrastructure Consulting. The project is slated for completion in late 2018.
COLUMBUS, OHIO — The Meritex Co. has selected The Opus Group to build a 250,050-square-foot industrial building in Columbus. The speculative building, which will feature 32-foot clear heights and truck ports, will accommodate up to four tenants. The project is slated for completion in May 2018. Opus Design Build LLC will serve as design-builder and Opus AE Group will serve as the architect and structural engineer. Rick Trott and Kevin McGrath of CBRE will market the property for lease on behalf of developer Meritex.
BELTON, MO. — Salina Hotel Corp. will develop an 83-room Fairfield Inn & Suites in Belton, about 20 miles south of Kansas City. The 48,000-square-foot hotel, located between Mullen Road and I-49, is slated for completion by the end of 2018. The project includes construction of a new road, which will be funded by a newly established Community Improvement District (CID). Project partners include the City of Belton and Belton Economic Development Corp.
HAZLE TOWNSHIP, PA. — Trammell Crow Co. and its partner, Allstate, through real estate investment manager CBRE Global Investors, have broken ground for Humboldt East Trade Center, a speculative warehouse building located within Humboldt Industrial Park in Hazle Township. The 440,504-square-foot building will feature 36-foot clear heights, employee and trailer parking, and a flexible design that can accommodate multiple tenants with separate entrances. Completion is slated for the first quarter of 2018. Sean Bleiler and Bill Wolf of CBRE are handling project leasing and marketing.
ATLANTA — Houston-based real estate developer Hanover Co. is nearing completion of Hanover Buckhead Village, a 353-unit apartment community in Atlanta’s Buckhead district. The 20-story tower is located next to the historic Buckhead Theatre at the corner of Roswell Road and Irby Avenue N.W., and is situated within walking distance to a Whole Foods Market, West Village and The Shops at Buckhead Atlanta. Community amenities include a screening room, business center, 24-hour TechnoGym, rooftop pool deck and outdoor dining and fireplace areas. Individual units feature oversized glass windows, wood-style flooring and granite countertops. Hanover Buckhead Village also includes 13 penthouse units that will feature wraparound windows and views of the Buckhead and Midtown skylines. In addition, the tower will include approximately 12,500 square feet of first-floor retail space. The property is slated to open this fall.
FORT LAUDERDALE, FLA. — A joint venture between Bridge Development Partners, Akard Street Partners LP (an investment partnership operated by Banner Oak Capital Partners LP) and Elion Partners has secured a $16.6 million construction loan for the development of Bridge Point Riverbend, a 221,542-square-foot industrial building in Fort Lauderdale. Steve Roth of CBRE arranged the loan through Webster Bank. The seller was not disclosed. The joint venture originally acquired the 12-acre property, located at the intersection of Interstate 95 and Broward Boulevard, in July for $10.4 million. Bridge Point Riverbend will feature 32-foot clear heights, rear-dock loading, ESFR sprinkler systems, a 1.4 to 1,000 parking ratio and the flexibility to accommodate tenants from 40,000 square feet to 221,542 square feet.
