development1

Strategic Capital Partners to Develop $60M Industrial Project in Research Triangle Park

by Camren Skelton August 7, 2017

DURHAM, N.C. — Strategic Capital Partners has unveiled plans for Patriot Park, a $60 million industrial development located near Miami Road and Patriot Drive within Research Triangle Park in Durham. The project will comprise roughly 1 million square feet to be developed over the next several years. Construction on Phase I, which will include 322,800 square feet, is slated to begin this summer. In addition to Strategic Capital Partners, the investment group includes Westminster Capital, Berkshire Realty and First Tennessee Bank, which is providing construction financing. Patriot Park is the third major development in the Raleigh-Durham metro for Indianapolis-based Strategic Capital.

August 7, 2017

Industrial Southeast Virginia

Panattoni to Deliver 1 MSF Industrial Warehouse in Richmond

by Camren Skelton August 7, 2017

RICHMOND, VA. — Panattoni Development Co. Inc. has unveiled plans to develop a 1 million-square-foot speculative warehouse situated along Commerce Road in Richmond. CBRE | Richmond represented California-based Panattoni in the acquisition of the 62.3-acre parcel of land. Dubbed Virginia I-95 Distribution, the project will be developed in two phases. Each phase will feature a 461,700-square-foot cross-dock warehouse with 36-foot clear heights, LED lighting and multiple trailer drops. Phase I is slated for completion in summer 2018. Matt Anderson of CBRE | Richmond will handle the property’s leasing.

August 7, 2017

Georgia Multifamily Southeast

Brand Properties Breaks Ground on 295-Unit Apartment Community in Metro Atlanta

by Camren Skelton August 7, 2017

PEACHTREE CORNERS, GA. — Brand Properties has broken ground on Echo Lakeside, a 295-unit multifamily property located at 510 Guthridge Court in Peachtree Corners, roughly 22 miles north of Atlanta. In addition to Atlanta-based Brand Properties, the project team includes architect Niles Bolton & Associates, general contractor Oxford Construction, landscape architect HGOR and property management firm Woodward Management Partners. Echo Lakeside will include one- and two-bedroom floor plans with rents ranging from $1,000 to $1,900. Situated on 14.5 acres, the property will feature a clubhouse, fitness center, pool with a sun terrace, dog park and hiking and biking trails. The project is slated for completion in summer 2018.

August 7, 2017

Illinois Midwest Multifamily

297-Unit Luxury Apartment Complex Opens in Itasca, Illinois

by Kristin Harlow August 7, 2017

ITASCA, ILL. — M&R Development has opened The Residences at Hamilton Lakes in Itasca, 27 miles northwest of Chicago. The 297-unit luxury apartment complex is located adjacent to the Hamilton Lakes Business Park. A joint venture between Itasca-based M&R Development and Hamilton Partners and Chicago-based POB Capital LLC developed the property. The Residences at Hamilton Lakes includes three four-story buildings offering a mix of studio, one-, two- and three-bedroom floor plans. Rental prices range from $1,340 to $3,180. Amenities include an outdoor pool with cabanas, media room, fully equipped gym, business center and demonstration kitchen along with a spa, sauna and steam room. Chicago-based RMK Management manages the property.

August 7, 2017

Iowa Midwest Multifamily Seniors Housing

Darland Transforms Former School Into Affordable Seniors Housing Property in Council Bluffs, Iowa

by Kristin Harlow August 7, 2017

COUNCIL BLUFFS, IOWA — Darland Construction Co. has completed a renovation of and addition to Gunn School, transforming the 90-year-old building into an affordable seniors housing property in Council Bluffs, a suburb of Omaha, Neb. Known as Linden Place, the 42,265-square-foot complex consists of 36 units. Sixteen of the apartment units are located in the renovated school, while the remaining 20 units are part of a new, two-story addition built on what was once the school’s basketball courts and playground. Gunn School was originally built in 1880 and then rebuilt on the same site in 1924. The school was originally slated to be torn down before Seldin Co. showed interest in rehabbing the building. The project was made possible through a series of community and economic development grants. Architecture One provided architectural services.

August 7, 2017

Multifamily Texas

Talos Holdings to Develop 300-Unit Apartment Community in Fort Worth

by Taylor Williams August 7, 2017

FORT WORTH, TEXAS — Talos Holdings will develop The View of Fort Worth, a 300-unit multifamily community located along Northside Drive near Interstate 35 in Fort Worth. Amenities will include a pool, fitness center, game room and pet park. Construction is expected to begin this month with the first units ready for occupancy by late 2018. CBG Building Co. will serve as general contractor for the project, which was designed by Dallas-based BGO Architects and could ultimately feature a second, 200-unit phase of construction. Justin Shuart, Jason Pumpelly and Brian Park of Cushman & Wakefield arranged construction financing for the project through Endeavor Real Estate Partners.

August 7, 2017

Office Texas

Kaizen Breaks Ground on 145,000 SF NETSCOUT Building in Allen

by Taylor Williams August 7, 2017

ALLEN, TEXAS — Kaizen Development Partners has broken ground on a 145,000-square-foot office facility within the One Bethany at Watters Creek development in Allen for Massachusetts-based tech firm NETSCOUT Systems Inc. During the summer of 2018, NETSCOUT will relocate more than 500 employees to the Class A property, which will serve as its regional research and development office. Balfour Beatty is serving as general contractor on the project, which was designed by BOKA Powell.

August 7, 2017

Healthcare Texas

TierOne Breaks Ground on 38,600 SF Medical Office Building in Metro Houston

by Taylor Williams August 7, 2017

SUGAR LAND, TEXAS — TierOne Development has broken ground on a 38,600-square-foot medical office property at 7619 Branford Place in the Houston metro of Sugar Land. Slated for a second-quarter 2018 completion, the Class A building is being developed on a speculative basis. Tim Gregory and Ashley Cassel of Transwestern’s Healthcare Advisory Services team will handle leasing of the property.

August 7, 2017

Restaurant Retail Texas

Schulman Theatres to Develop 74,000 SF Entertainment Center in Metro Dallas

by Taylor Williams August 4, 2017

TERRELL, TEXAS — Schulman Theatres will develop Film Alley Movie Entertainment Center, a 74,000-square-foot facility that will be located at the corner of Interstate 20 and FM 148 in Terrell, a city approximately 30 miles east of Dallas. The center will feature eight auditoriums, 24 bowling lanes, a 4,500-square-foot arcade and a bar and restaurant. Film Alley will be situated within the 255-acre, master-planned Crossroads at Terrell development. Construction on the property’s infrastructure began in June. The center is scheduled to open in September 2018.

August 4, 2017

Michigan Midwest Office

Dow Chemical Co. Headquarters Opens in Midland, Michigan

by Kristin Harlow August 4, 2017

MIDLAND, MICH. — The Dow Chemical Co.’s new Global Dow Center has opened in Midland in central Michigan. KIRCO developed the 184,390-square-foot property, and is also constructing a 20,000-square-foot H. H. Dow Visitors and Heritage Center. Demolition of Dow’s former Willard H. Dow 2020 building began in June 2015, which made way for the October 2015 groundbreaking of the Global Dow Center. The new facility is seeking LEED certification. Features of the Global Dow Center include 21,000 square feet of vegetative rooftop and a nearly one-acre decorative pond, which wraps around one-third of the building. An enclosed employee walkway connects occupants to parking and other campus facilities. A glass curtain wall exterior allows for extensive penetration of natural light into the workspaces. Dow produces many products for the building and construction industry, such as sealants, coating materials and polyurethanes. Many of Dow’s products were used in the construction of the project. KIRCO MANIX provided construction services.

August 4, 2017

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