development1

Third & Urban Names Development on Atlanta BeltLine, Signs Tenants

by Camren Skelton August 2, 2017

ATLANTA — Third & Urban has named its development on the Atlanta BeltLine’s Eastside Trail as Common Ground. Located at 550 Somerset Terrace N.E. in Atlanta’s Old Fourth Ward neighborhood, the project is a redevelopment of the former Western Electric Co. facility. The Atlanta-based real estate development and investment firm has signed two new restaurant concepts from hospitality management and creation business, The Diligence Co. — Bazati Hall, which will lease 9,500 square feet, and Estrella, a rooftop bar that will comprise 3,000 square feet. New Realm Brewing Co., an American craft brewery concept from former Stone Brewing Co. brewmaster Mitch Steele, will open a 20,000-square-foot brewhouse and a 3,000-square-foot restaurant. In addition to dining and brewery space, Common Ground is also offering approximately 34,000 square feet of office lofts and retail space for lease. The project is slated to open this fall.

August 2, 2017

Mixed-Use New York Northeast Top Stories

TF Cornerstone to Develop 1.5 MSF Mixed-Use Project in Long Island

by Nellie Day August 2, 2017

NEW YORK CITY — TF Cornerstone is set to develop a 1.5 million-square-foot mixed-use development in Long Island City’s Anable Basin inlet. The $925 million, 4.5-acre project will include residential, commercial, industrial and academic spaces in the New York borough of Queens. The office portion will feature 277,500 square feet of Class A office space and 80,000 square feet of “step-up” office space for start-ups and fast-growing companies in the technology, arts, design and creative industries. Another 22,500 square feet will be dedicated to pre-built incubators for arts, technology and creative industry startups with flexible co-working spaces. The industrial portion will include nearly 100,000 square feet of light industrial space, as well as a 5,000-square-foot “fab lab” for digital fabrication and hardware prototype assembly. About 10,000 square feet will be utilized for an Arts and Technology Accelerator, which will provide education, training, incubation and economic opportunities. This accelerator was designed to forge new collaborations and businesses by merging art, technology and hardware, and to support an ecosystem for technological innovations and entrepreneurship. Another 10,000 square feet will be set aside for classroom space to foster workforce development and training in growing economic sectors, including arts, technology and advanced manufacturing industries. …

August 2, 2017

Midwest Minnesota Multifamily

Kraus-Anderson, Inland to Develop $65M Apartment Complex in Metro Minneapolis

by Jeff Shaw August 1, 2017

RICHFIELD, MINN. — A joint venture between Minneapolis-based construction firm Kraus-Anderson and Inland Development Partners will develop Chamberlain, a 316-unit apartment complex in Richfield, located about eight miles south of Minneapolis. The current design calls for 283 units to be constructed in three new buildings on the site, in addition to 33 units in three existing buildings that will be renovated. Designed by Urban Works, the project has an estimated price tag of $65 million. The property is situated near the intersection of 66th Street and Cedar Avenue. Construction is expected to begin in spring 2018 with the first of the new units slated to open in spring 2019.

August 1, 2017

Illinois Midwest Restaurant Retail

Dunkin’ Donuts to Open Location in Machesney Park Near Rockford, Illinois

by Jeff Shaw August 1, 2017

MACHESNEY PARK, ILL. — Dunkin’ Donuts has unveiled plans to open a new location at the intersection of Harlem Road and North Second Street in Machesney Park, roughly seven miles north of Rockford, Illinois. The location will be the fourth store in the Rockford area for co-owners Vijay Patel and Greg Novak, who secured the new location in a shopping center occupied by Michalsen’s Office Furniture. Slated to open this fall, Dunkin’ Donuts will join several new tenants who have opened in Machesney Park, including Potbelly Sandwich Shop and Eggspresss. Pita Pit is expected to open later this month.

August 1, 2017

Office Texas

Land Strategies Nears Completion of Phase I of 27.7-Acre Office Park Near San Antonio

by Taylor Williams August 1, 2017

BOERNE, TEXAS — Austin-based developer Land Strategies Inc. is nearing completion of Phase I of Seven Oaks Office Park, a 27.7-acre office development located on Bee Cave Road in Boerne, a northern suburb of San Antonio. Phase I of construction will include a seven-story, 120,000-square-foot office building and a 604-space parking structure. Completion is scheduled for August, according to the Austin Business Journal.

August 1, 2017

Georgia Loans Office Southeast

SunTrust Provides $42.7M Construction Loan for Serta Simmons Bedding Headquarters in Metro Atlanta

by Camren Skelton August 1, 2017

DORAVILLE, GA. — SunTrust Commercial Real Estate has provided a $42.7 million construction loan to Holder Properties for the development of a new corporate headquarters for Serta Simmons Bedding. Located within Assembly, a 164-acre mixed-use urban renewal project in Doraville, roughly 15 miles north of Atlanta, the project will feature approximately 210,000 square feet of office, showroom and research and development space. The property will also include a 500-space parking deck. Upon completion in early 2019, Serta Simmons will consolidate its headquarters from three locations in the Atlanta area and one in Chicago, and bring roughly 500 jobs to the new development. The Atlanta-based company owns and manages two of the largest brands in the mattress industry, Serta and Beautyrest. The project is designed by Rule, Joy, Trammell + Rubio and DPR is the general contractor. Dom Wyant of JLL represented Serta Simmons in the lease transaction.

August 1, 2017

Multifamily Seniors Housing South Carolina Southeast

Dominion Breaks Ground on $10M Seniors Housing Community in Clemson

by Camren Skelton August 1, 2017

CLEMSON, S.C. — Dominion Senior Living has broken ground on Dominion Senior Living at Patrick Square, a $10 million, 50,000-square-foot seniors housing community located at 100 Pershing Ave. in Clemson. The two-story, faith-based community will have 40 assisted living apartments and 17 apartments designed for memory care. Dominion Senior Living at Patrick Square is slated to open in fall 2018, bringing roughly 50 new jobs to the Clemson area. The property is Dominion’s second asset in South Carolina.

August 1, 2017

California Retail Western

Sprint Expands in Northern California with 43 Planned New Retail Stores

by Nellie Day August 1, 2017

SAN FRANCISCO — Sprint continues to expand its presence and investment in Northern California with plans to add 43 new retail locations throughout the area by the end of 2017. Currently, Sprint operates more than 170 branded retail locations throughout the Northern California region. Of the 43 new store locations, Sprint has already opened 13 new stores in Antioch, Bakersfield, Castro Valley, Delano, Freedom, Fresno, Gilroy, Hayward, Manteca, Napa, Pittsburg and Reno (two stores) — with the remaining 30 stores in various stages of leasing and design. Sprint is adding more network capacity in cities across the Northern California region, including rural locations. Sprint has used this spectrum to optimize and enhance coverage at the LinkedIn headquarters in Sunnyvale, the Four Seasons hotel in Palo Alto, and will soon complete upgrades at the Newpark Mall in Newark and the Southland Mall in Hayward.

August 1, 2017

Hospitality Texas

Valencia Group Breaks Ground on 136-Room Hotel in Irving

by Taylor Williams July 31, 2017

IRVING, TEXAS — Valencia Group, a Houston-based hospitality firm, has broken ground on the Valencia Texican Court Hotel, a 136-room hotel located at the corner of West Las Colinas Boulevard and West Northwest Highway in Irving. The property will feature approximately 5,000 square feet of meeting space. Dallas-based BOKA Powell LLC is the architect for the project and Arch-Con Corp. is the general contractor, according to the Dallas Business Journal.

July 31, 2017

Office Texas

Independent Bank to Build $52M Corporate Campus in McKinney

by Taylor Williams July 31, 2017

MCKINNEY, TEXAS — Independent Bank Group Inc. will build a corporate campus on 10.4 acres within the Craig Ranch development, located at the intersection of State Highway 121 and Grand Ranch Parkway in McKinney. The project is expected to cost approximately $52 million, according to the Dallas Business Journal, and could create as many as 400 new jobs. Independent Bank is an $8.6 billion regional lender. Since going public in 2013, the company has increased its employee base from approximately 340 to more than 1,000 and its number of locations in Texas and Colorado from 30 to 82.

July 31, 2017

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