development1

High Street, PREI Break Ground for 353-Unit Multifamily Project in Austin

by Amy Works January 19, 2017

AUSTIN, TEXAS — High Street Residential and Principal Real Estate Investors (PREI) have broken ground for Crestview Commons, a four-story residential property located adjacent to the Crestview MetroRail station at North Lamar Street and Sugaree Avenue in Austin. The property will feature 353 apartment units in a mix of one-, two- and three-bedroom layouts ranging in size from 642 square feet to 1,405 square feet. Community amenities will include a conference room, resident lounge, entertaining kitchen, top-floor indoor and outdoor clubroom, three courtyards, pool and a dog park. JHP Architecture is serving as project architect and Andres Construction is the general contractor. Comerica Bank and Southside Bank are providing construction financing. Pre-leasing is slated to start in January 2018.

January 19, 2017

Trammell Crow Inks 473,000 SF Lease for New FCC Headquarters in D.C.

by John Nelson January 19, 2017

WASHINGTON, D.C. — Trammell Crow Co., along with joint venture partners Cottonwood Partners and a subsidiary of a private real estate fund advised by Crow Holdings Capital – Real Estate, has signed a long-term lease for nearly 473,000 square feet with the Federal Communications Commission (FCC). The U.S. General Services Administration (GSA) signed the lease on behalf of the FCC at Sentinel Square III, an 11-story office building that is under construction at 45 L St. N.E. in Washington, D.C.’s NoMa district. The FCC will occupy a portion of the first two floors and the entirety of floors three through 10 by November 2019. The 545,000-square-foot Sentinel Square III is part of the ownership’s 1.3 million-square-foot, mixed-use development. The building is designed to meet Level IV security protocols and LEED Silver standards. Kevin Terry of GSA and the CBRE team of Henry Chapman, Sara Dunstan, Richard Downey and Sarah Maxwell represented the FCC in the lease transaction. The FCC is the first committed tenant at Sentinel Square III.

January 19, 2017

Healthcare Midwest Missouri

McCarthy Completes Construction of $31.3M Cancer Facility in Rolla, Missouri

by Kristin Harlow January 19, 2017

ROLLA, MO. — McCarthy Building Cos. Inc. has completed construction of the Delbert Day Cancer Institute at Phelps County Regional Medical Center in Rolla in central Missouri. The 37,000-square-foot cancer care facility occupies the first two levels of the new, four-story, 100,470-square-foot building constructed by McCarthy. Located at the north side of the main hospital campus, the $31.3 million building is connected to an adjacent medical office building via a pedestrian bridge.The new facility includes more than 63,000 square feet of medical office space to accommodate future tenants. The institute houses radiation therapies, nuclear medicine, infusion therapy, medical oncology and supporting lab and pharmacy services. To optimize efficiency, the project team employed Lean construction techniques, including the construction of prefabricated mechanical, engineering and plumbing systems, using building information modeling to reduce site waste. McCarthy also used advanced construction technologies such as a semi-automated robotic mason to enhance the efficiency of bricklaying. BSA LifeStructures designed the building.

January 19, 2017

California Office Western

Surgery Partners Debuts New Surgery Center in Beverly Hills

by Nellie Day January 18, 2017

LOS ANGELES — Surgery Partners has opened a 12,000-square-foot surgical facility in Beverly Hills. The new facility is known as Specialty Surgical Center of Beverly Hills. It will specialize in ophthalmology. This is the company’s second surgical center within the Beverly Hills market. Specialty Surgical Center will occupy the ground floor at a multi-tenant medical office that sits adjacent to the Beverly Hills Triangle. Jon Gorczyca and Yarden Drimmer of Cushman & Wakefield represented Surgery Partners.

January 18, 2017

Illinois Midwest Multifamily

McShane to Construct Luxury Apartment Complex in Oak Brook, Illinois

by Kristin Harlow January 18, 2017

OAK BROOK, ILL. — McShane Construction Co. has been selected by Interforum Holdings to construct Lakeside Village of Oak Brook, a 315-unit apartment complex in Oak Brook. The building will be constructed on a six-acre parcel located off Royce Boulevard. The four-story development will feature an urban “Texas donut” design in which the residential component is constructed around a central core parking garage. The property will consist of 40 one-, 263 two- and 12 three-bedroom floor plans. Amenities will include a fitness center, business center, swimming pool, playground, dog park and dog washing station. Construction will be completed in phases with move-ins beginning in early 2018. The entire development will be completed in late 2018. Baranyk Associates Ltd. is providing architectural services.

January 18, 2017

Industrial Maryland Southeast

Amazon to Open 1.2 MSF Fulfillment Center in Maryland

by John Nelson January 18, 2017

NORTH EAST, MD. — Amazon plans to open a new 1.2 million-square-foot fulfillment center in North East, a town in northeast Maryland near the Delaware border. The e-commerce giant currently employs more than 3,000 associates at its fulfillment and sortation centers in Baltimore and plans to create 700 new positions at its new facility, the company’s third fulfillment center in Maryland. Situated within Principo Commerce Center I, the Amazon facility is a joint venture development between Trammell Crow Co. and Diamond Realty Investments. The joint venture broke ground on the project last May and plans to open the Amazon facility in the second quarter of this year.

January 18, 2017

District of Columbia Multifamily Southeast

Joint Venture to Develop $100M Apartment Community in D.C.

by John Nelson January 18, 2017

WASHINGTON, D.C. — A joint venture between Federal Capital Partners (FCP), Level 2 Development LLC and Clark Enterprises Inc. plans to develop The Highline, a $100 million apartment community located at 320 Florida Ave. N.E. in Washington, D.C. The property will feature 314 residential units, four penthouse residences and roughly 10,000 square feet of first-floor retail space. Designed by Eric Colbert & Associates, the 12-story community will feature warehouse-style windows, materials reminiscent of rail cars and riveted steel columns. Located one block from the NoMa/Gallaudet Red Line Metro Station, The Highline will include a rooftop pool, a green roof, bio retention facility, energy-efficient building design and 105 bicycle parking spaces. In conjunction with The Highline, the joint venture will develop 13 three-bedroom townhomes off-site in conjunction with DC Habitat that will be set aside for households earning no more than 50 percent of the area median income (AMI). In addition, 4 percent of The Highline’s units will be reserved for households earning no more than 80 percent of AMI. United Bank and EB5 Capital provided construction financing for the project, and MAC Realty Advisors assisted the venture in acquiring development financing.

January 18, 2017

Florida Hospitality Southeast

Wyndham Hotel Group Opens Wyndham Grand Clearwater Beach

by John Nelson January 18, 2017

CLEARWATER BEACH, FLA. — Wyndham Hotel Group has opened Wyndham Grand Clearwater Beach, a new 343-room hotel in Clearwater Beach, a beachfront town situated along the Gulf of Mexico in Pinellas County. The hotel features more than 22,000 square feet of meeting space, a full-service spa, outdoor pool, bar and Asian fusion restaurant, as well as a fitness center and business center open 24 hours a day. The hotel also includes two presidential suites, which feature three bedrooms, private elevator access, a balcony, dining area and living room.

January 18, 2017

Mixed-Use North Carolina Southeast

Beacon Partners to Develop 320,000 SF Mixed-Use Project in Charlotte’s South End

by John Nelson January 17, 2017

CHARLOTTE, N.C. — Beacon Partners has unveiled its plans for a 3.5-acre block, situated at South Tryon and Bland streets in Charlotte’s South End, that the firm is currently redeveloping. The new development will feature two eight-story buildings spanning 320,000 square feet. Named the RailYard, the project will feature office space, 30,000 square feet of retail and restaurants and 100 residential units. The site sits one block from the LYNX Bland Street Station and at the head of the Rail Trail, a 3.5-mile trail along the LYNX Blue Line. The RailYard’s buildings will feature a brick exterior, masonry, ornamental steel and glass, double-door arched entryways and open floor plates offering views of Uptown and South End. The development will include a one-acre rooftop park and an outdoor courtyard between the two buildings. The design team includes RBA Group and David Furman of Centro Cityworks. Kristy Venning and Charlie Swanson of Beacon Partners are handling the leasing. Construction on RailYard is scheduled to begin this summer.

January 17, 2017

California Retail Western

IKEA to Relocate LA-Area Store in February

by Nellie Day January 17, 2017

BURBANK, CALIF. — IKEA’s relocated Los Angeles-area store within Burbank will open on Feb. 8, replacing the existing IKEA Burbank that will close permanently on Feb. 4. The 456,000-square-foot new store will include 1,700 parking spaces on 22 acres west of San Fernando Boulevard and south of Providencia Avenue. The closing store was 242,000 square feet and opened on 6.4 acres in 1990, the first IKEA store in California. IKEA will install a solar array atop the new store, as well as six electric vehicle charging stations. IKEA was founded in Sweden in 1943. There are currently more than 390 IKEA stores in 48 countries, including 43 in the U.S.

January 17, 2017

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