development1

McShane Breaks Ground on 56,300 SF Office/Showroom for TRUMPF in Metro Chicago

by John Nelson September 14, 2016

HOFFMAN ESTATES, ILL. — McShane Construction Co. has broken ground on a 56,300-square-foot office and showroom property for TRUMPF, a German manufacturer of fabricating equipment and industrial lasers. The asset will be located on a five-acre site within the Huntington 90 business park in Hoffman Estates, a suburb of Chicago. Berlin-based architect Barkow Leibinger designed the asset, which will feature 30,250 square feet of office space, a 26,050-square-foot open showroom, central courtyard and parking for 50 vehicles. McShane Construction plans to deliver the building in the summer of 2017. Heitman Architects Inc. is serving as the architect of record for the project.

September 14, 2016

Hospitality Midwest Wisconsin

Marcus Hotels to Add Villas to Grand Geneva Resort in Wisconsin

by John Nelson September 14, 2016

LAKE GENEVA, WIS. — Marcus Hotels & Resorts, a division of The Marcus Corp., plans to add 29 all-season villas to the Grand Geneva Resort & Spa in Lake Geneva. The resort features 355 guest rooms, as well as 225 suites at Timber Ridge Lodge & Waterpark. Villa guests will have access to all the amenities of the resort in addition to their own outdoor swimming pool during the summer and six fire pits. The villas will feature studio, one-, two- and three-bedroom floor plans with a kitchen, fireplace, flat screen TV and a washer and dryer. Half of the villas will be available beginning in March 2017, and the remaining units will be open by June 2017. The 1,300-acre Grand Geneva Resort features two championship golf courses, The Mountain Top ski and snowboard facility, horseback riding, three restaurants and 62,000 square feet of meeting and convention space.

September 14, 2016

California Retail Western

Baskin-Robbins Continues L.A. Area Expansion

by Nellie Day September 14, 2016

LOS ANGELES — Baskin-Robbins, the world’s largest chain of ice cream specialty shops, has signed a multi-unit store development agreement with new franchisee Sharooz Setareh to develop three new ice cream shops in Santa Monica and Beverly Hills over the next few years. Currently, there are more than 460 Baskin-Robbins shops located throughout California. Setareh owns a beauty supply chain and clothing manufacturing company, which he still operates today. The first shop under the Baskin-Robbins agreement opened in Santa Monica earlier this year. Setareh plans to open his second shop in 2017, with the third location following in 2018. Baskin-Robbins also sold two completed, ready-to-operate stores so far this year. Existing franchisee Harpreet Gill purchased the first turnkey shop in Porterville and opened it earlier this summer. New franchisee Alejandro Kochergane purchased the second shop in Imperial Beach with plans to open early next year. Founded in 1945, Baskin-Robbins has more than 7,700 retail shops in nearly 50 countries. Headquartered in Canton, Mass., Baskin-Robbins is part of the Dunkin’ Brands Group.

September 14, 2016

California Multifamily Seniors Housing Western

Berkshire Group, Clearwater Senior Living Form Seniors Housing JV with $500M Pipeline

by Nellie Day September 13, 2016

NEWPORT BEACH, CALIF. AND BOSTON — Clearwater Senior Living, a Newport Beach-based seniors housing developer, and Berkshire Group, a Boston-based multifamily investor, have formed a new joint venture that plans to develop and acquire $500 million in seniors housing communities in the Western United States. The JV plans to bring in third-party institutional investors to help fund the pipeline. The joint venture will own, operate and develop a mix of independent living, assisted living and memory care communities. As of June 30, Berkshire Group had approximately $7.2 billion in real estate assets under management, largely in the multifamily sector.

September 13, 2016

Arizona Multifamily Seniors Housing Western

Life Care Services, Westminster Funds to Add 24-Unit Independent Living Neighborhood to CCRC in Phoenix

by Nellie Day September 13, 2016

PHOENIX — Life Care Services and Westminster Funds, the joint venture owners of Sagewood, a continuing care retirement community in Phoenix, have announced plans to add a 24-unit independent living neighborhood to the community’s campus. The addition to Sagewood will be named The Estates. The expansion includes a mix of villas, single homes and duplexes, as well as a 15,000-square-foot event center. When The Estates is completed, the CCRC will feature 316 independent living units. The owners also recently expanded Sagewood’s onsite Acacia Health Center. A timeline for the expansion was not disclosed.

September 13, 2016

California Retail Western

Petco Opening 13 New Stores in September

by Nellie Day September 13, 2016

SAN DIEGO — Petco will open 13 new stores across the country and relocate one store in Paso Robles, Calif., in September. In addition, the company will also transition 31 existing Unleashed by Petco stores to smaller format stores this month. The rebranding of 31 select Unleashed by Petco stores are located primarily in Colorado, Georgia and Texas. The stores will transition to smaller format Petco stores. In addition, based on consumer feedback and demand, UnleashedbyPetco.com will become an informational site for consumers, with all online product sales moving to Petco.com. The former Unleashed by Petco locations will continue to operate as smaller format Petco stores and will include most of the same brands, products and amenities — such as self-serve dog wash and dog training services — that are available under the Unleashed by Petco banner. Petco operates more than 1,470 Petco and Unleashed by Petco locations across the U.S., Mexico and Puerto Rico.

September 13, 2016

Florida Hospitality Southeast

PRISA, Peachtree Hotel Group to Develop Three Hotels in Florida

by John Nelson September 13, 2016

ORLANDO AND TAMPA, FLA. — The PRISA Group and Peachtree Hotel Group have partnered to develop three hotels in Florida, including a dual-branded hotel development in Orlando and a new hotel in Tampa’s Westshore district. The properties include the dual-brand SpringHill Suites by Marriott Orlando/Mall at Millenia and Residence Inn by Marriot Orlando/ Mall at Millenia and the 175-room AC Hotel by Marriott Tampa/Airport – Westshore. The dual-branded project will feature 120 SpringHill Suites rooms, 134 Residence Inn rooms, a resort-style pool with a bar, game area with large board games and a lounge with water and fire features. Other amenities will include complimentary breakfast, a 24-hour market, lobby bar, complimentary Wi-Fi, fitness center and two meeting rooms totaling 1,600 square feet. Amenities at the AC Hotel in Tampa include a market, two media salons, business/social events room, 900-square-foot fitness center, pool and pool bar, complimentary Wi-Fi and 2,300 square feet of meeting space. The properties are currently under construction with a planned opening date of December 2017. Marriott Corp. will manage the three hotels. The construction is being conducted by a partnership between PRISA Group and Orlando-based Welbro Building Corp. Miami-based Popular Community Bank provided construction financing for the …

September 13, 2016

Florida Southeast Student Housing

Landmark Properties Unveils Student Housing Development Near University of Florida

by John Nelson September 13, 2016

GAINESVILLE, FLA. — Landmark Properties has unveiled The Standard at Gainesville, a 1,200-bed, mixed-use student housing community located near the University of Florida campus in Gainesville. The development will be connected to an AC by Marriott Hotel, and will be occupied by retailers including Target, Chick-fil-A and Bento Café. The 430-unit development will offer 22 different floor plans, ranging from studios to six-bedroom options, including two-story penthouse townhomes. Each unit will be wired for high-speed internet and cable, and will include a flat screen TV, gourmet kitchens with stainless steel appliances and granite countertops and a full-size washer and dryer. Community amenities will include rooftop pools and cabanas, a fitness center, racquetball court, golf simulator, computer labs, 24-hour study lounges and an internet café. Premium VIP units will also feature billiards tables and exclusive access to a private rooftop lounge and a second rooftop pool. The development is scheduled for completion in fall 2017. Pre-leasing for the property will begin this Thursday.

September 13, 2016

fountain-square-commerce-center-bolingbrook-il

Illinois Industrial Midwest

Conor Commercial Delivers 70-Acre Industrial Business Park in Bolingbrook, Illinois

by Amy Works September 13, 2016

BOLINGBROOK, ILL. — Conor Commercial Real Estate, a member of The McShane Companies, has completed Fountain Square Commerce Center, a 70-acre industrial business park located at Remington Boulevard and S. Schmidt Road in Bolingbrook. Situated within the I-55 corridor, the park includes four speculative buildings ranging in size from 109,088 to 320,532 square feet. Each facility can support single- or multi-tenant configurations with space available from 40,000 square feet. Additionally, the park features ample on-site vehicle and truck parking, substantial dock door positions, efficient truck maneuverability, 32-foot clear heights, ESFR sprinkler systems, office space to suit individual tenants and a two-acre public park. The business park also includes a 12-acre site available for a fully customized build-to-suit construction accommodating up to 216,000 square feet. McShane Construction Co. and Ware Malcomb provided design/build construction services for the development.

September 13, 2016

fenwick-medical-complex-fenwick-island-de

Delaware Healthcare Northeast

Capital & Guarantee to Develop 120,000 SF Medical Facility in Southern Coastal Delaware

by Amy Works September 12, 2016

FENWICK ISLAND, DEL. — Wilmington, Del.-based Capital & Guarantee, an investment banker and developer, is developing Fenwick Medical Complex, a six-building facility serving Fenwick Island, Bethany Beach and Sussex County, Del., located on Route 20 just east of Fenwick Island. The 120,000-square-foot facility will feature a full-service emergency medical center, ample parking and a heliport, as well as a variety of physician practices, including cardiovascular, family practice, gastroenterology, gynecology, hand surgery and care, internal medicine, neurology, OBGYN, oncology and ophthalmology, among others. Each specialty practice at the facility will have an exclusive position with no competitive practice in the complex and admitting and practice privileges at the regional hospital located 12 miles from the complex.

September 12, 2016

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