development1

MorningStar, Confluent Break Ground on 141-Unit Seniors Housing Community Near Denver

by Nellie Day July 18, 2016

ARVADA, COLO. — Co-developers MorningStar Senior Living and Confluent Development have broken ground on MorningStar Senior Living of Arvada, a 141-unit independent living, assisted living and memory care community in the Denver suburb of Arvada. The developers expect to complete construction in fall 2017, with an information center opened by January of that year. The 160,000-square-foot development will feature 71 suites for independent living, 41 suites for assisted living and 29 suites for memory care. The community will be situated on 4.5 acres, encircled by six parks and Arvada Reservoir. Suites will range from studio to two-bedroom layouts, and 340 to 1,200 square feet. MorningStar of Arvada is the sixth joint venture between affiliates of MorningStar Senior Living, a Denver-based senior living developer and operator, and Confluent Development, a Denver-based development and investment firm. It will be MorningStar’s 16th ground-up seniors housing development. Rosemann & Associates of Denver is serving as the architect for the new development, and Thoma-Holec Design of Phoenix is the interior designer.

July 18, 2016

California Retail Western

Ross Stores Opens 31 New Locations

by Nellie Day July 18, 2016

DUBLIN, CALIF. — Ross Stores opened 24 Ross Dress for Less and seven dd’s DISCOUNTS stores across 15 different states in June and July. These new locations are part of the company’s 2016 expansion plans to add approximately 70 Ross and 20 dd’s DISCOUNTS locations throughout the year. Ross Stores, Inc. is headquartered in Dublin, Calif., with 1,317 locations in 34 states, the District of Columbia and Guam. The company also currently operates 185 dd’s DISCOUNTS in 15 states.

July 18, 2016

Hospitality North Carolina Southeast

MJM Group to Develop $20M Marriott-Branded Hotel in Charlotte

by John Nelson July 18, 2016

CHARLOTTE, N.C. — MJM Group plans to develop a new Residence Inn by Marriott-Charlotte/Steele Creek in Charlotte. The $20 million hotel will be situated at the intersection of Dixie River Road and Trojan Drive in Charlotte’s Steele Creek submarket. The 82,000-square-foot property will span 120 rooms and feature an outdoor swimming pool, outdoor living area, meeting space and a fitness center. The project team includes St. Louis-based architect Gray Design and civil engineer Stimmel Associates. Raleigh-based MJM Group has selected St. Louis-based Midas Hospitality to manage the hotel upon completion, which is set for late 2017. Chris Thomas of Childress Klein represented the seller in the land transaction. Kurt Schoenhoff of Selwyn Property Group represented MJM Group, which has developed several Marriott-branded hotels in North Carolina including the dual-branded Residence Inn and Fairfield Inn & Suites by Marriott Charlotte Airport and the Courtyard by Marriott at Triangle Town Center-North Raleigh.

July 18, 2016

California Retail Western

Dunkin’ Donuts Plans 8 New Restaurants in Los Angeles

by Nellie Day July 15, 2016

LOS ANGELES — Dunkin’ Donuts has signed a development agreement with Precision Hospitality & Development to develop eight new restaurants in Los Angeles. The first restaurant is planned to open in 2018. This agreement closes out the company’s first wave of franchise commitments since announcing the state would be open for franchise sales in January 2013. In 2014, Precision Hospitality & Development signed a store development agreement to open 10 Dunkin’ Donuts restaurants in South Orange County and surrounding cities. The group already has two restaurant locations open in Laguna Hills and Irvine, with plans to open a multi-brand restaurant with sister-brand Baskin-Robbins this fall in Foothill Ranch.

July 15, 2016

New York Northeast Office Retail

Tishman Speyer Moving Ahead with Construction of 1.1M SF Office, Retail Project in Long Island City

by Amy Works July 15, 2016

NEW YORK CITY — Tishman Speyer, in partnership with Qatar Diar, is moving ahead with the construction of a 1.1 million-square-foot office and retail project in Long Island City. The project concludes Tishman Speyer’s purchase of 1.8 million square feet of development rights from New York City, which included a 700,000-square-foot office building that the company completed in 2011. Designed by MdeAS Architects, the new commercial project will comprise two 27-story towers connected by a four-story podium featuring a mix of retail, food hall, restaurant and parking garage space. Construction is slated to begin in early 2017, with completion scheduled for 2019. More than 800,000 square feet of the available office space in the development has been preleased, including 250,000 square feet to WeWork, a shared office space provider. Fried Frank acted as counsel to Tishman Speyer in the closing of the company’s $770 million transaction to develop the two towers. The transaction included the acquisition of the site from the New York City Economic Development Corp., an equity investment by Qatari Diar, construction financing and tax benefits from the New York City Industrial Development Agency. The Fried Frank team included Jonathan Mechanic, Tal Golomb, Michael Barker, Michael Werner, Janice Mac …

July 15, 2016

Georgia Office Southeast

Parkside Partners, Payscape to Purchase, Renovate Office Building in Midtown Atlanta

by John Nelson July 15, 2016

ATLANTA — Parkside Partners has formed a joint venture with Payscape, a financial technology firm that provides payment processing software for small to mid-size businesses, to purchase and renovate a 43,430-square-foot office building in Midtown Atlanta. The companies will renovate the two-story asset located at 1438 W. Peachtree St. for Payscape’s new headquarters. Payscape will triple its square footage following its move from its current location at 729 Lambert Drive in Atlanta. The joint venture purchased the property from Lyrasis, which signed a long-term lease prior to the sale for 9,200 square feet of office space at the property. Additionally, AlliedBarton Security Services currently occupies 11,475 square feet in a long-term lease. The asset will be 80 percent leased when Payscape takes occupancy in the fall. MSTSD is the architect of the $8 million renovation, which is expected to wrap up by the first quarter of 2017. The renovations include painting the building’s brick exterior, transforming the office suites to a loft-style design, renovating the lobby, installing skylights on the second floor and landscaping the grounds. Howard Boyd of Hailey Realty represented the joint venture in the purchase, and Iberia Bank provided acquisition financing on behalf of the new ownership. …

July 15, 2016

Mixed-Use South Carolina Southeast

NAI Avant, Sumter Partner on $7.5M Historic Rehab Project in Downtown Columbia

by John Nelson July 15, 2016

COLUMBIA, S.C. — NAI Avant and Sumter LLC are collaborating on a historic $7.5 million rehabilitation project for three vacant buildings in downtown Columbia. The assets are located at 1519 Sumter St. and 1222 and 1224 Taylor St. Once complete, the buildings will provide roughly 23,000 square feet of mixed-use space with 12-foot ceilings, exposed brick, stone work, spiral duct work and large windows. Phase I of the project will be the rehabilitation of 1519 Sumter, a building constructed in 1920 and known locally as the Powell Furniture building. The Boudreaux Group has pre-leased the entire second floor of the building with plans to move in by spring 2017. Phase II will be the renovation of the Taylor Street buildings, which will begin in the first quarter of 2017. NAI Avant and Sumter LLC will use state and federal tax credits for the renovation project. Sumter LLC comprises three entities — Robert Lewis and Chris Rogers of Rogers, Lewis Jackson Mann and Quinn Attorneys at Law; Heather Mitchell and Randy Huth of The Boudreaux Group; and a silent partner. Mashburn Construction will oversee the construction project.

July 15, 2016

Mixed-Use New York Northeast Office Retail

Triangle Equities Completes 88,000 SF Multi-Use Complex in the Bronx

by Amy Works July 15, 2016

NEW YORK CITY — Triangle Equities has completed Triangle Plaza Hub, a multi-use complex located in the South Bronx. The $35 million, 88,000-square-foot complex is occupied by Fine Fare Supermarket, Metropolitan College of New York, Brightpoint Health, DaVita Dialysis Center, Vistasite Eye Care, Boston Market and Dunkin’ Donuts. A 3,900-square-foot retail space on the ground floor and a 3,000-square-foot pad site adjacent to the public plaza are available for lease.

July 15, 2016

California Multifamily Seniors Housing Western

Bernards Starts Construction of $95.5M Luxury Seniors Housing Community Near Los Angeles

by Nellie Day July 14, 2016

LAGUNA NIGUEL, CALIF. — Bernards, a commercial builder, has commenced work on Crestavilla, a 220-unit, $95.5 million independent living, assisted living and memory care community in the Los Angeles suburb of Laguna Niguel. Santa Ana-based William Hezmalhalch Architects designed the community, which Irvine-based Steadfast Senior Living is developing. Since the project was first announced in February, the number of units and acuity mix have changed. The 211,387 square feet will now feature 112 independent living units (formerly announced as 61), 72 assisted living units (formerly announced as 115) and 36 memory care units (formerly announced as 25). The project is located on 11.5 acres and is scheduled for completion in November 2017.

July 14, 2016

Civic Maine Mixed-Use Northeast

University of Maine Selects Harriman, The Cecil Group for Campus Redevelopments

by Amy Works July 14, 2016

PORTLAND, MAINE — The University of Maine has selected Harriman and The Cecil Group, a newly merged architectural firm, to master plan facilities across the seven state campuses in Fort Kent, Presque Isle, Orono, Machias, Augusta, Farmington and Southern Maine, among other locations and sites. The comprehensive suite of documents, which will be created, will guide the future development and management of the university system’s physical campuses. Harriman and The Cecil Group will perform master planning and facilities planning across the university system in a unified effort with all campuses. As part of Maine’s One University Initiative, the planning activities at each individual campus will develop a site-specific identity that integrates with the system as a whole. The university system intends for the master plan to build community engagement, provide opportunity for input and for constituents to have an awareness, understanding and stake in the outcome. Additionally, the comprehensive and long-range plans will be tied to strategic direction and planning of each campus, as well as responsive to current requirements and future development needs. Harriman and The Cecil Group are collaborating with Goody Clancy and Rickes Associates on master planning, campus planning and in-depth facility programming.

July 14, 2016

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