development1

Principle Construction Finishes Work on 70,000 SF Industrial Project in Illinois for Saia

by Christina Cannon July 21, 2016

GRAYSLAKE, ILL. — Principle Construction Corp. has completed two industrial buildings for Saia LTL Freight. The buildings, located at 2260 S. Midlothian Road in Grayslake, will serve as administrative, maintenance and operations space for Saia. The two buildings are situated on 33 acres and total 70,000 square feet. Amenities at the property include 16-foot clear heights, over 100 docks and a fueling facility with 12 service bays and two wash bays. The project also features parking for 94 automobiles, 294 trailers, 34 tractors and 30 dollies. Larry L. Christian Architects designed the project, and Cushman & Wakefield represented Saia.

July 21, 2016

Midwest Missouri

Artisan Building Co. Completes $1.5M Expansion of St. Louis Research Facility

by Christina Cannon July 21, 2016

ST. LOUIS — Artisan Building Co. has completed a $1.5 million expansion for DYNALABS LLC, a pharmaceutical testing company. The 15,500-square-foot expansion of the existing St. Louis facility included a chemistry lab, analytical lab, area for maintaining glassware, inspection and management area for samples, distribution and storage space, offices, a lunch area and conference space. The 33,500-square-foot research building is located at 2327 Choteau Ave.

July 21, 2016

California Multifamily Seniors Housing Western

Richman Group Completes 95-Unit Affordable Seniors Housing Community in Fullerton

by Nellie Day July 20, 2016

FULLERTON, CALIF. — The Richman Group of California Development Company has completed construction of Ventana, a 95-unit affordable seniors housing community in Fullerton. The six-story, 130,000-square-foot midrise building on 0.6 acres features 3,200 square feet of retail space and a subterranean parking garage. The community is already fully leased. Richman Property Services will operate and handle leasing for Ventana. Irwin Partners of Costa Mesa was the architecture firm and Cannon Constructors of San Diego was the general contractor. City of Fullerton Housing Bonds, tax credit funds and Bank of America all provided financing for the project. Founded in 1987, The Richman Group is a residential real estate investment, development and asset management firm based in Connecticut. The California branch is based in La Jolla.

July 20, 2016

New Mexico Retail Western

Jimmy’s Egg Plans 52 New Restaurants, Including Entry to New Mexico

by Nellie Day July 20, 2016

ALBUQUERQUE, N.M. — Jimmy’s Egg Franchise Systems has signed six area development agreements for 52 new restaurants to be built in Kansas, Arkansas, Texas, New Mexico, Nebraska and Iowa. This development activity will bring Jimmy’s Egg into three new states: Arkansas, New Mexico and Iowa. Jimmy’s Egg was founded by Loc Le and opened in Oklahoma City in 1980. The chain currently includes 51 locations, prior to this new expansion.

July 20, 2016

Midwest Missouri Retail

HDA Architects Completes $4.7M Renovation for Mungenast St. Louis Honda

by Christina Cannon July 20, 2016

ST. LOUIS — HDA Architects has completed a 27,000-square-foot renovation forMungenast St. Louis Honda. The $4.7 million project includes a new open concept floor plan, additional customer waiting area, a training room and a corporate conference room. Josh Goodman served as the project manager, Kim Murray was the interior designer, and David George and Leah McClendon were the architects of record. Holland Construction Services was the general contractor.

July 20, 2016

Florida Industrial Southeast

McCraney Buys 70 Acres in Florida for 1.3M SF Spec Industrial Development

by John Nelson July 20, 2016

PLANT CITY, FLA. — McCraney Property Co. has purchased 70 acres of a strawberry farm located at the intersection of County Line and Rice roads in Plant City. The West Palm Beach, Fla.-based industrial developer will build a 1.3 million-square-foot spec industrial development at the site known as County Line Logistics Center at Fancy Farms. The development will include Building 100 (131,200 square feet); Building 200 (168,480 square feet); Building 300 (173,600 square feet); and Building 400 (876,240 square feet), all being developed with 36-foot clear heights. Lisa Parks Abberger of Hauger-Bunch Inc. represented the seller in the land transaction, and Bruce Erhardt of Cushman & Wakefield represented McCraney Property.

July 20, 2016

Hospitality Loans Multifamily New Jersey Northeast

The Rockefeller Group Secures $70M Construction Loan for Flexible-Stay Project in New Jersey

by Amy Works July 19, 2016

FLORHAM PARK, N.J. — The Rockefeller Group has secured $70 million in financing on behalf of its joint venture partnership with Korman Communities for the construction of AVE Florham Park. Located within The Green at Florham Park in Florham Park, the flexible-stay community will feature 256 furnished and unfurnished accommodations that are ideal for corporate housing, relocations and long-term stays. The partnership broke ground on the 450,000-square-foot project earlier this year with completion slated for 2017. The property will feature 40,000 square feet of outdoor amenities, including a private courtyard with sitting areas and chess stations, and a community courtyard with a lap pool and sundeck, a ping pong table, bocce ball court, a kitchen with barbecue area, a movie screen, fire pits and an enclave with cabanas. Additionally, the property will feature 24,000 square feet of indoor amenities, including a movie theater, café, conference suites, a business center, a yoga studio and fitness center, a spa and 24-hour resident services.

July 19, 2016

Georgia Hospitality Loans Southeast

U.S. Bank Provides $58.5M Construction Loan for Omni Hotel at The Battery Atlanta

by John Nelson July 19, 2016

ATLANTA — Through HFF’s debt placement division, U.S. Bank has provided a $58.5 million construction loan for the development of the Omni Hotel at The Battery Atlanta. The 16-story, 264-room hotel will anchor the $1 billion mixed-use village surrounding SunTrust Park, the Atlanta Braves’ new ballpark set to open in April 2017 in Cobb County. The hotel will feature 12,000 square feet of meeting space, a restaurant with rooftop seating, outdoor pool with a deck and bar, fitness center, wine and coffee bar, retail outlets on the third floor and concierge services. Whitaker Johnson and Jim Curtin led the HFF team in arranging the 42-month loan through U.S. Bank on behalf of the borrowers, TRT Holdings Inc. and Braves Development Co. LLC. The loan features two one-year extension options. Dallas-based TRT Holdings is the parent company of Omni Hotels & Resorts, and Braves Development Co. is owned by Liberty Media Corp.

July 19, 2016

Mike-Ilitch-School-of-Business-Wayne-State

Michigan Midwest Office

Wayne State to Break Ground on $50M Mike Ilitch School of Business

by Haisten Willis July 18, 2016

DETROIT — Wayne State University will break ground this Wednesday, July 20 on the Mike Ilitch School of Business, a new academic building on the public university’s Detroit campus. The new school is named for Mike Ilitch, the founder of Little Caesars Pizza and owner of the Detroit Red Wings professional hockey team. The project will be largely funded by a $40 million gift from Ilitch and his wife, the largest donation in Wayne State’s history. The project in total will cost $50 million, according to Crain’s Detroit Business. The Mike Ilitch School of Business will be located on the southwest corner of Woodward Avenue and Temple Street in The District Detroit, a massive redevelopment surrounding the Red Wings’ new arena currently under construction. The school is scheduled for completion in 2018.

July 18, 2016

Multifamily Seniors Housing Washington Western

LCS Development Nears Completion of $154.5M, 180-Unit CCRC Expansion Near Seattle

by Nellie Day July 18, 2016

ISSAQUAH, WASH. — LCS Development, a developer of continuing care retirement communities (CCRCs) throughout the United States, has nearly completed the Phase II expansion of Timber Ridge at Talus, a CCRC in the Seattle suburb of Issaquah. National Health Investors (NYSE: NHI), a major healthcare REIT, is providing the funding for the $154.5 million expansion. When completed, the project will add 145 independent living apartments, 14 assisted living apartments, a new 12-bed memory care neighborhood and nine private nursing suites. The project will also add a new dining venue, an indoor swimming pool and a 190-seat auditorium. Phase I of Timber Ridge was completed in 2008 as a 10-acre portion of a 630-acre, master-planned Talus community. The site is located near the 3,100-acre Cougar Mountain Wildland Park. The expansion is 80 percent completed, according to LCS Development. The auditorium and memory care neighborhood will open for residents this month. Westminster Capital is a joint venture partner on the development. LCS Development is a subsidiary of LCS and a sister company of Life Care Services, which operates Timber Ridge at Talus.

July 18, 2016

Newer Posts

Older Posts