development1

MARTA Selects Place Properties, H.J. Russell for $51.3M King Memorial Station Development

by John Nelson March 14, 2017

ATLANTA — The Metropolitan Atlanta Rapid Transit Authority (MARTA) has partnered with Place Properties and H. J. Russell & Co. to develop the King Memorial Station Transit Oriented Development (TOD), which has an estimated total development cost of $51.3 million. The joint venture replaces Walton Communities, which was initially awarded the project in 2014. The TOD will be co-located at the King Memorial MARTA station, which is located near downtown at 377 Decatur St. S.E. The project will feature a 400-unit apartment community and 10,000 square feet of retail space. The joint venture plans for 20 percent of the property’s units to be reserved as affordable housing. Place Properties has financed, acquired and developed more than 37,000 multifamily beds nationwide, valued at over $1.7 billion. H. J. Russell & Co. has more than 60 years of development experience that includes The Pad on Harvard near the College Park MARTA station, Mercedes-Benz Stadium and the Smithsonian National Museum of African American History and Culture in Washington, D.C.

March 14, 2017

Michigan Midwest

QLine Streetcar to Begin Service in Motor City on May 12

by Kristin Harlow March 13, 2017

DETROIT — The QLine, Detroit’s new streetcar system, will celebrate its grand opening on Friday, May 12 with a special event at the Penske Technical Center. The celebration will begin with a morning press conference featuring elected officials and dignitaries, and will be followed by an inaugural first ride down Woodward Avenue. The QLine will open to the public on Friday evening. Construction on the line began in July 2014. The QLine made its first test run on Woodward Avenue in December 2016 and the streetcar system has undergone over 1,000 tests in preparation for operations. The economic impact of transit-oriented development is expected to top $3.5 billion within a decade and include a mix of 10,000 new residential units, offices and commercial projects near Woodward Avenue, according to Crain’s Detroit Business. The three-piece cars are 66 feet long and carry 125 passengers on average. They travel 35 miles per hour and stop for traffic lights along the 3.3-mile-long line. The cars are powered by a 750-volt lithium ion battery, operating 60 percent off-wire, the highest percentage of any streetcar system in the United States, according to a news release. Walk-up fares are estimated at $1.50.

March 13, 2017

California Retail Western

Ross Stores Opens 28 New Locations

by Nellie Day March 13, 2017

DUBLIN, CALIF. — Ross Stores recently opened 23 Ross Dress for Less and five dd’s DISCOUNTS stores across 15 different states in February and March. These new locations are part of the company’s plans to add approximately 70 Ross and 20 dd’s DISCOUNTS locations during 2017. With these recent openings, Ross Stores Inc. now operates 1,561 Ross Dress for Less and dd’s DISCOUNTS stores across 37 states, the District of Columbia and Guam. Looking ahead, Ross hopes to grow to 2,000 locations with dd’s DISCOUNTS becoming a chain of 500 stores.

March 13, 2017

Georgia Office Southeast

KDC Demolishes Office Building to Make Way for Phase II of State Farm Campus in Atlanta

by John Nelson March 13, 2017

DUNWOODY, GA. — KDC has demolished the 10-story Hammond Exchange Building to make way for Phase II of Park Center, State Farm’s 2.2 million-square-foot office campus within Atlanta’s Central Perimeter submarket in Dunwoody. Park Center will also feature 100,000 square-feet of retail, restaurants and entertainment space. Phase II of Park Center comprises two office towers totaling 1.2 million square feet and will feature a pedestrian bridge over Perimeter Center Parkway that will connect the two office towers to the Phase I tower and the Dunwoody MARTA station. Park Center will also link up to a multiuse trail, new pedestrian plaza, a connector road between Perimeter Center Parkway and Peachtree-Dunwoody Road and street-level retail space. The design team includes architect Cooper Carry & Associates for the shell building and interiors and general contractor Holder Construction. KDC expects to deliver the 22- and 19-story office towers in 2020.

March 13, 2017

Florida Office Southeast

Ownership Group to Develop 73,000 SF Office Building at CocoWalk Near Miami

by John Nelson March 13, 2017

COCONUT GROVE, FLA. — Federal Realty Investment Trust, Grass River Property and Comras Co., owners of the CocoWalk development in the Miami urban district of Coconut Grove, plan to develop a 73,000-square-foot office building within the project. The ownership group plans to break ground on the five-story asset, known as One CocoWalk, in early 2018 for a mid-2019 target delivery. Situated at Main Highway, McFarlane Road and Grand Avenue, One CocoWalk will be Coconut Grove’s first new office building since 1989. Beame Architectural Partnership designed the property to include four levels of Class A offices atop street-level retail space, as well as a rooftop terrace. The ownership group has selected Blanca Commercial Real Estate to lease One CocoWalk.

March 13, 2017

Multifamily Texas

MetroNational Set to Break Ground on Apartment Complex in West Houston

by Taylor Williams March 10, 2017

HOUSTON — MetroNational, a Houston-based real estate development and management firm, has announced plans to break ground this month on a midrise apartment complex at the corner of Barryknoll Lane and Memorial City Way in the Memorial City neighborhood of west Houston. The eight-story complex will have a total of 327 one-, two- and three-bedroom units, ranging in size from 555 square feet to 1,796 square feet, as well as a game lounge, fitness center and a rooftop pet park. The property is slated to open in summer 2019.

March 10, 2017

Florida Industrial Southeast

Liberty Property Trust to Develop Build-to-Suit Industrial Facility in Orlando for STIHL Southeast

by John Nelson March 10, 2017

ORLANDO, FLA. — Liberty Property Trust plans to develop a build-to-suit industrial facility in Orlando on behalf of STIHL Southeast, an exclusive distributor of STIHL outdoor power equipment for Florida, Georgia, Alabama and portions of the Caribbean. The new 154,400-square-foot facility will be situated on 13 acres within Liberty Park at AIPO on Tradeport Drive. The long-term lease includes 20,000 square feet of office space, 25,000 square feet of climate controlled assembly space and the balance will be for warehouse and distribution. The property will feature 32-foot clear heights, a 60-foot speed bay and more than 25 dock-high and drive-in doors. The STIHL Southeast facility is the seventh property that Liberty Property Trust has developed in the park, which totals 1.7 million square feet. The design team includes architect C4 Architecture and general contractor Kelsey Construction. Stephen Whitley of Whitley Capital LLC represented STIHL Southeast in the lease deal, and John Johnston represented Liberty Property Trust internally.

March 10, 2017

California Multifamily Western

CLG, Cayton Capital Open $30M R3 Apartments in Marina del Rey

by Nellie Day March 9, 2017

LOS ANGELES — A joint venture between California Landmark Group and Cayton Capital have completed construction of R3, a 67-unit apartment community in the Los Angeles submarket of Marina del Rey. The $30 million community is located at 4091 Redwood Ave. in the Arts District. R3 features a mix of one- and two-bedroom floor plans ranging from 685 square feet to 1,655 square feet. Amenities include a rooftop pool and lounge, fitness center and a Zen yoga garden with complimentary yoga sessions by a certified instructor.

March 9, 2017

Industrial Texas

Stream Realty Partners Announces 152,000 SF Business and Industrial Development in Frisco

by Taylor Williams March 9, 2017

FRISCO, TEXAS — Stream Realty Partners has announced plans for a new, 152,00-square-foot development in Frisco Park 25, a 216-acre, master-planned business and industrial park located at Preston Road at Rockhill Parkway in Frisco. PowerSecure Lighting, a manufacturer of LED lighting products, will anchor the Class A development with a 76,000-square-foot lease. Cannon Green and Bob Hagewood of Stream will oversee leasing of the project, which is slated to launch in 2018.

March 9, 2017

Healthcare Midwest Nebraska

Darland to Construct 45,000 SF Handicap Accessible School in Omaha

by Kristin Harlow March 9, 2017

OMAHA, NEB. — Darland Construction Co. has partnered with BCDM Architects and Omaha Public Schools to build a school for students with special needs. J.P. Lord School will be relocated from its current location at the University of Nebraska Medical Center’s main campus to a new location near 45th and Marinda streets. The 45,000-square-foot school will feature handicap accessible hallways and classrooms, multi-sensory elements, a therapy pool and mobility devices throughout. The school serves students ages five to 21, and the new location is slated to open in the fall of 2018.

March 9, 2017

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