CHARLOTTE, N.C. — MRP Realty and Asana Partners have acquired the Duke Energy headquarters building at 526 S. Church St. in Charlotte, with plans to develop a mixed-use project at the site. Initial plans include 450 residential units and 55,000 square feet of ground-floor retail space. Duke Energy plans to vacate the building and move to its newly constructed headquarters at Duke Energy Plaza in late 2023.
ALAMEDA, CALIF. — Wood Partners and Principal Real Estate have opened Alta Star Harbor, a residential property located at 1518 Clement Ave. in Alameda. The property is a combination of new construction and the adaptive reuse of a 100-year-old Del Monte warehouse, with all residences located within the six-acre historic brick façade. Additionally, select units feature preserved original timber roofs, brick walls and concrete floors combined with modern apartment amenities. Designed by BAR Architects, Alta Star Harbor features 372 apartments in a mix of studio, one-, two- and three-bedroom layouts. Units range from traditional apartment-style homes and townhome options to work/live units. Each apartment offers open floor plans, stainless steel appliances, quartz countertops, hard-surface flooring, full-size washers/dryers and temperature control. Community amenities include paseos with landscaped gardens, rooftop sundecks, retail space, a fitness center and yoga studio, Wi-Fi lounge with workspace booths, a clubroom for resident events with a community kitchen, and complimentary coffee bar. Wood Residential will manage the property.
NORTH MYRTLE BEACH, S.C. — Edgewater Ventures plans to develop a 164,850-square-foot build-to-suit distribution facility in North Myrtle Beach for Pepsi Bottling Ventures LLC (PBV). Located in Palmetto Coast Industrial Park, the project will break ground in January of next year. Constructed on 25 acres, the PBV facility will feature tilt-up concrete construction, 30-foot minimum clear heights, an ESFR sprinkler system and expansion capability up to 217,000 square feet. PBV marks the first tenant at the park, which will comprise 720,000 square feet upon completion and includes a dedicated interchange at Highway 31.
DENVER — Houston-based Lovett Industrial closed on 14.9 acres of land for the development of Broadway Logistics Center, a Class A, front-park, rear-load building in Denver. Totaling 201,329 square feet, Broadway Logistics Center will feature 32-foot clear heights, six-inch reinforced concrete slab, 204 auto parking stalls, 57 dock-high doors, 130 truck courts and 50 trailer parking spots. Construction started in November 2022 with completion slated for October 2023. Drew McManus, Ryan Searle and Bryan Fry of Cushman & Wakefield will handle marketing and leasing efforts for the property. Texas Capital Bank provided construction financing. Brinkmann Constructors is serving as general contractor, Powers Brown Architecture is the lead architect and Kimley-Horn is serving as civil engineer.
WHEELING, ILL. — Structured Development and Burnt City Brewing have opened a second District Brew Yards location at 700 N. Milwaukee Ave. in the Chicago suburb of Wheeling. Occupying the former Ram Restaurant & Brewery, which shuttered in 2019, the 11,668-square-foot space features five breweries: Burnt City Brewing, Around the Bend Beer Co., Casa Humilde Cerveceria, Twisted Hippo Brewing and Histrionic Brewlab. Guests can sample a range of beers and are charged by the ounce with a cashless system. Guests can also enjoy barbecue from Lillie’s Q, fried chicken and fish from Salt & Scratch and Mexican cuisine from Chicano Taqueria. The first District Brew Yards location opened in Chicago’s West Town neighborhood in 2019. The Wheeling location features a taproom with communal tables, bottle shop and outdoor beer garden that seats more than 100 people.
AUSTIN, TEXAS — Texas-based developer Presidium has broken ground on a 358-unit multifamily project in northeast Austin. Designed by Dallas-based Humphreys & Partners, Presidium Tech Ridge will sit on 14 acres and feature studio, one- and two-bedroom floor plans. Residences will be furnished with stainless steel appliances, quartz countertops, built-in desks, wine coolers and full-size washers and dryers. The amenity package will comprise a pool, fitness center, game room, coffee bar, theater lounge, golf simulator, business center, catering kitchen, coworking lounge, courtyard with fire pits and a dog park. Completion is slated for late 2023.
SAN DIEGO — Square Mile Capital has closed a $202.6 million loan to finance the construction of Bioterra, a life sciences development in San Diego’s Sorrento Mesa submarket. Bank OZK co-originated the loan. Longfellow Real Estate Partners is developing the 316,000-square-foot project. In August, Longfellow broke ground on the six-story campus that will feature lab and office space and three stories of subterranean parking. The property will offer a first-floor coffee bar, conference facilities, full-service gym with outdoor space for fitness classes and a full-service restaurant/café. Aldon Cole and Patrick Burger of JLL’s San Diego office arranged the financing.
ST. LOUIS — Clayco has completed Delmar DivINe, a redevelopment of the former St. Luke’s Hospital in St. Louis into apartments. Clayco completed the project in partnership with Maxine Clark, the founder of Build-a-Bear Workshop. The 310,000-square-foot building is now home to 150 apartment units, space for 33 nonprofit tenants and retail storefronts along Delmar Boulevard. Amenities include a pool, fitness center, dog park, resident lounge and courtyard. Clayco collaborated with developer CRG, architect Lamar Johnson Collaborative and many local subcontractors. The long-neglected hospital campus was built in 1904.
MIAMI — The Chetrit Group, a privately held New York City-based developer, plans to develop The River District, a 4 million-square-foot mixed-use destination in Miami. The project will span more than six acres along the Miami River waterfront. Total development costs will exceed $1 billion, according to Bloomberg. The Chetrit Group previously secured a $310 million loan from Madison Realty Group to fund the project’s first two phases of construction. Occupying the delta between I-95, Southwest Second Avenue and Jose Marti Park, The River District will feature four ground-up skyscrapers — a condominium tower, office tower and two high-rise apartment buildings — as well as a pair of two-story waterfront retail buildings, a marina and new streetscapes. Overall the project will comprise 1,600 residences, an undisclosed amount of Class A office space, 30,000 square feet of retail space, a boat marina that can accommodate 60-foot vessels, 2,000 covered parking spots and restaurants and nightlife venues. “The River District is going to create a riverwalk experience for the first time in the city, and we expect to completely transform how people in the area live, work and play,” says Michael Chetrit, principal of Chetrit Group. The first building to come to …
ROUND ROCK, TEXAS — A partnership between Orlando-based developer ZOM Living and New York City-based investment management firm CP Capital will develop Azola Avery Centre, a 359-unit multifamily project in metro Austin. The site is located within the 1,200-acre Avery Centre master-planned development in the northern suburb of Round Rock. Units will come in studio, one-, two- and three-bedroom floor plans, and amenities will include a pool, outdoor kitchen, fitness center, dog park, coworking lounge and a game room. Construction is scheduled to begin in January and to be complete in 2025.
