development1

Old Chicago to Open New Locations in Montana, Wyoming

by Nellie Day October 10, 2016

BROOMFIELD, COLO. — Old Chicago Pizza & Taproom has signed franchise development agreements with three of its existing franchise partners to open nearly two dozen new restaurants. These agreements will grow Old Chicago’s footprint across eight states. Among existing franchise groups to sign new agreements are the Johnson Group, which has plans to bring three restaurants to Wyoming and Montana. Old Chicago operates in 24 states with more than 100 restaurants nationwide. Broomfield, Colo.-based CraftWorks Restaurants &a Breweries, Inc. is the largest craft brewery restaurant operator in the country with nearly 200 franchised and company-owned restaurants primarily operating under the Old Chicago Pizza & Taproom, Gordon Biersch Brewery Restaurants, Rock Bottom Restaurants & Breweries and ChopHouse & Brewery brands.

October 10, 2016

Office Texas

KDC Completes Fourth Office Tower for State Farm in Richardson

by Katie Sloan October 7, 2016

RICHARDSON, TEXAS — Dallas-based KDC has completed the fourth office tower at the developer’s CityLine mixed-used project in Richardson. State Farm will occupy the new tower, and the giant insurer’s employees are currently in the process of moving into the 500,000-square-foot facility. State Farm now occupies 2.1 million square feet of office space at CityLine. Construction of the tower, known as Four CityLine, started in July 2014. Located at the northeast corner of State Street and North Plano Road across from the other three State Farm office towers, Four CityLine consists of a 12-story office building situated atop a five-level parking structure with approximately 30,000 square feet of ground-floor retail space. CityLine now includes the four office towers occupied by State Farm; a 489,000-square-foot office complex for Raytheon; nearly 50 restaurants and stores, including the Whole Foods-anchored CityLine Market; 1,000 apartments with another 1,000 under construction; a 148-room select service Aloft Hotel scheduled to open early next year; a wellness office building anchored by Texas Health Resources, Children’s Health and a fitness center; and an urban plaza designed by Office of James Burnett (OJB), the landscape architect of Dallas’ signature Klyde Warren Park. CityLine’s project team includes general contractor Austin Commercial, architect Corgan Architects, civil …

October 7, 2016

Office Texas

Prescott Group Plans $11M Redevelopment of Office Building in Austin

by Katie Sloan October 7, 2016

AUSTIN, TEXAS — Prescott Group Inc., along with an institutional investor, has acquired an office building at 316 W. 12th St. in Austin and plans an $11 million redevelopment of the property. The building is located on one acre and is within walking distance of the State Capitol, The University of Texas, Dell Medical School and Austin’s Downtown Entertainment District. The Texas State Teachers Association, which had owned the property since its completion in 1952, was the seller. The redevelopment, which is slated to begin Oct. 10, will include an additional 26,000-square-foot floor to the building. Other planned improvements feature a new restaurant, rooftop terrace, conference room, fitness facility, bike storage and landscaped courtyard. Following the redevelopment, which should be completed in late 2017, the building will be renamed Westview. Andersson•Wise Architects is designing the project. The Burt Group is the general contractor, Sixthriver Architects is the interior designer, Big Red Dog is the civil and MEP engineer, AEC is the structural engineer, and Co’Design is the landscape architect. The project lender is Texas Capital Bank, while HFF arranged the financing. Rachel Coulter and Kevin Kimbrough of the Austin office of JLL will lead the leasing efforts. Prescott Group is …

October 7, 2016

Midwest Multifamily Wisconsin

Brookfield Corners Tops Off Two Apartment Buildings in Brookfield, Wisconsin

by Amy Works October 7, 2016

BROOKFIELD, WIS. — Brookfield Corners LLC has topped off Dempsey Place and Garrison Court, two apartment buildings that are part of The Corners, a $220 million mixed-use lifestyle redevelopment project on West Bluemound Road in Brookfield. With a combined total of 244 apartment homes, the buildings are situated above 400,000 square feet of shopping and dining space. The properties offer a mix of studio, one-bedroom, two-bedroom and two-bedroom/den layouts, as well as fitness rooms, social rooms, a movie screening room and outdoor terrace with fire pit. Initial occupancy of the apartments is slated for mid-2017, and the retail portion of The Corners is scheduled to open in spring 2017. Mandel Property Services is the residential leasing and management company for The Corners.

October 7, 2016

Georgia Industrial Southeast

Wayfair to Open New Distribution Center in Metro Atlanta

by John Nelson October 7, 2016

MCDONOUGH, GA. — Wayfair, a Boston-based e-commerce retailer specializing in home furnishings and décor, will locate its newest distribution center in McDonough, a southern suburb of Atlanta in Henry County. Wayfair will lease space within Phase II of King Mill Distribution Park, an 846,496-square-foot distribution center/warehouse located at 130 Distribution Drive. Trammell Crow Co. and Allstate co-developed the property. Wayfair’s new location will create more than 150 jobs in logistics and fulfillment. Founded in 2002, Wayfair offers more than 7 million products from over 7,000 suppliers across five brands: Wayfair.com, AllModern, Birch Lane, DwellStudio and Joss & Main. The company has more than 5,300 employees in North America and Europe. Wayfair worked with the Georgia Department of Economic Development, Henry County Development Authority, Georgia Ports Authority, Metro Atlanta Chamber, Georgia Power and Transwestern on the new project.

October 7, 2016

Georgia Hospitality Southeast

Noble, Simon Open AC Hotel Atlanta Buckhead at Phipps Plaza

by John Nelson October 7, 2016

ATLANTA — A joint venture between Noble Investment Group and Simon has opened the AC Hotel Atlanta Buckhead at Phipps Plaza in Atlanta’s Buckhead district. Designed by Atlanta-based architectural firm Cooper Carry, the 166-room hotel is situated at the corner of Peachtree Street and Wieuca Road adjacent to Phipps Plaza and Lenox Square Mall. The property is the first new hotel to open in Buckhead in the past eight years. The hotel’s windows will feature View Dynamic Glass technology to automatically tint based on the sun’s intensity, which will maximize natural light and reduce heat and glare. Amenities include the AC Library, AC Lounge, AC Kitchen, a 24-hour fitness center and a heated indoor whirlpool.

October 7, 2016

Maryland Retail Southeast

Petrie Richardson, PGIM Real Estate Break Ground on Nordstrom Rack at Woodmore Towne Centre

by John Nelson October 7, 2016

GLENARDEN, MD. — Petrie Richardson Ventures and PGIM Real Estate, co-owners and developers of the 700,000-square-foot Woodmore Towne Centre, have broken ground on a new Nordstrom Rack store. Situated on a five-acre parcel within Woodmore Towne Centre in Glenarden, the 30,000-square-foot store will serve as Prince George’s County’s first Nordstrom Rack. The parcel will also include 29,000 square feet of retail and restaurant space for tenants that will be announced in the coming months. Woodmore Towne Centre is currently 90 percent leased to tenants including Wegmans, Costco, JC Penney, Best Buy, Petco, Chipotle Mexican Grill, Subway, KBQ Barbeque, Noodles & Co. and Irie Bar & Grill. Recently opened retailers and restaurants include Hook and Reel Cajun Seafood Restaurant, Honu Hawaiian BBQ and Kumon Learning Center. Kobe Japanese Steak & Food and Wings 21 will open later this year at Woodmore Towne Centre.

October 7, 2016

Colorado Industrial Western

Central Development to Build Encompass Business Park in Centennial

by Nellie Day October 6, 2016

CENTENNIAL, COLO. — Central Development has announced plans to build Encompass Business Park, a 55-acre office and industrial park, in Centennial. The Class A park will be situated on South Blackhawk Street, between East Arapahoe Road and East Fremont Avenue. The site, formerly known as Centennial East Corporate Center, will soon contain a 150,000-square-foot spec industrial building. This will be the largest individual spec industrial project in southeast Denver, according to Central Development. The new Encompass Business Park will offer a total of 13 development sites, ranging from 14,000 square feet to 150,000 square feet, with broad and flexible zoning that can accommodate retail, office, flex, industrial, medical and storage uses. Central Development purchased the land for Phase I from Jordan-Arapahoe LLC for $4.5 million. NGKF’s Kittie Hook and Wade Fletcher represented the LLC and assisted Central Development in the acquisition. The team is also handling the marketing, sales and leasing for Encompass. Central Development’s capital partner on the project is an LLC managed by Washington Capital Management.

October 6, 2016

Healthcare North Carolina Southeast

Duke Realty Breaks Ground on Medical Office Expansion for UNC REX Healthcare

by John Nelson October 6, 2016

HOLLY SPRINGS, N.C. — Duke Realty has begun construction on a 45,000-square-foot expansion of the UNC REX Healthcare campus in Holly Springs. Located at 617 Avent Ferry Road, the new three-story structure will be attached to an existing 30,370-square-foot medical office building via a three-story glass atrium. Duke Realty will develop, finance, own and manage the new space, which will be fully leased to UNC REX, a Raleigh-based healthcare system. The design team includes architect BSA LifeStructures and general contractor Brasfield & Gorrie. Duke Realty plans to deliver the new medical office building in December 2017. UNC REX also plans to build a new 50-bed community hospital on the Holly Springs campus beginning next year.

October 6, 2016

Florida Healthcare Southeast

Provision Healthcare, Hamlin Retail Partners to Develop Proton Therapy Center in Central Florida

by John Nelson October 6, 2016

ORANGE COUNTY, FLA. — Provision Healthcare and Hamlin Retail Partners, an affiliate of Boyd Development Corp. and Schrimsher Properties, have formed a joint venture to develop and operate a new proton therapy center as part of a medical campus in Hamlin, an 850-acre master-planned community in southwest Orange County. Situated at the interchange of State Road 429 and New Independence Parkway, the 25-acre medical campus will be part of Hamlin Town Center West, a 130-acre mixed-use development within Hamlin. The proton therapy center is projected to treat 800 to 900 cancer patients per year and create roughly 100 clinical and administrative jobs. The property will include three treatment rooms and use the proton systems technology of ProNova Solutions, an affiliate of Provision Healthcare. The Provision-Hamlin Retail joint venture will break ground on the center in the second quarter of 2017, and Provision will operate the property upon completion.

October 6, 2016

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