development1

Related Group, Dezer Development Close $114.7M Construction Loan for Mixed-Use Tower in Miami

by John Nelson February 11, 2016

MIAMI — The Related Group and Dezer Development have closed on a $114.7 million construction loan for Hyde Midtown Suites & Residences, a hotel and condominium development that will be located on Midtown Avenue and 34th Street in Miami. Mack Real Estate Credit Strategies provided the construction loan to Related and Dezer. The two companies collaborated with sbe on the project, which will feature 60 designer hotel rooms, 410 luxury condominiums and 19,500 square feet of retail, dining and entertainment space, including the Hyde Piano Bar Lounge. Hyde Midtown will feature a pool terrace on the seventh floor, private screening theater, game room, bocce and tennis courts and VIP access to Hyde Beach at the SLS Hotel South Beach. The design team includes Arquitectonica and David Rockwell, who will design the lobby and hotel rooms. Related and Dezer broke ground on the mixed-use tower in September 2015 with a completion date set for 2018. The condo portion is more than 70 percent under contract.

February 11, 2016

Idaho Multifamily Seniors Housing Western

CCRC in Boise Opens to Skilled Nursing Residents

by Nellie Day February 11, 2016

BOISE, IDAHO — The Terraces of Boise has received its state license to provide on-site skilled nursing services and is now accepting residents. This is the second phase of new residents at The Terraces, which expects its assisted living and memory care services to open in spring 2016. The community has already neared full occupancy for its independent living residences. The skilled nursing development — named The Villages — includes three small homes with 16 private skilled nursing suites in each. ABHOW, a California-based nonprofit, sponsors the community.

February 11, 2016

Mixed-Use North Carolina Southeast Top Stories

Kane Realty, KBS to Develop $100M High-Rise in Raleigh

by John Nelson February 11, 2016

RALEIGH, N.C. — Kane Realty Corp., a Raleigh-based commercial real estate developer, has joined with Newport Beach, Calif.-based KBS Realty Advisors as a joint venture partner for the development of Park Central in Raleigh. The development costs for the 16-story, mixed-use tower are estimated to total $100 million, according to Triangle Business Journal. “We are delighted for our partnership with KBS Realty Advisors to continue with Park Central,” says John Kane, CEO of Kane Realty Corp. “The vision we’ve shared with KBS fulfills the [area’s] demand for an upscale, urban lifestyle that’s rich with amenities. As Raleigh continues to grow, we are proud to provide a vibrant community … for residents and workers to enjoy.” The 252,204-square-foot high-rise retail and apartment building will be located at the intersection of Six Forks Road and the 440 Beltline in Midtown Raleigh’s North Hills district. Construction is already underway on the project, which is situated adjacent to Midtown Park. “We truly believe Park Central’s dynamic location within an attractive market like Raleigh, coupled with the luxury style of living we’re offering, will be a very attractive draw to tenants,” says Marc DeLuca, regional president of KBS. “Raleigh has become an appealing location for …

February 11, 2016

Florida Office Southeast

Cushman & Wakefield Arranges 560,000 SF Build-to-Suit Lease for Telemundo’s New Studio

by John Nelson February 10, 2016

MIAMI — Cushman & Wakefield has arranged a 560,000-square-foot, build-to-suit lease for Telemundo’s new broadcast center and studios in Miami. The new two-building campus will be located at the corner of Northwest 25th Street and Northwest 117th Place within Prologis Beacon Lakes, a 478-acre business park. The primary 476,000-square-foot facility will house more than 100,000 square feet of executive offices, as well broadcast and entertainment studios, a network operations center, set design operations and post-production facilities. A second, 87,000 square-foot building will be used for storage. Telemundo, which was purchased by NBCUniversal in 2010, is expected to occupy the campus in early 2018. Brian Smith, Mike Davis and Audley Bosch of Cushman & Wakefield represented NBCUniversal Telemundo Enterprises in the lease deal. Telemundo will consolidate approximately 1,300 jobs currently housed at various facilities throughout Miami-Dade County. As part of the deal, Prologis sold the land for the project to SunTrust Bank, which is serving as the landlord to NBCUniversal Telemundo.

February 10, 2016

Florida Office Southeast

Hogan Group Breaks Ground on Spec Office Building in Miami

by John Nelson February 10, 2016

MIAMI — On behalf of owners TIAA-CREF and Allianz Real Estate of America, The Hogan Group has broken ground on 800 Waterford, a 250,000-square-foot spec office building situated within Waterford at Blue Lagoon in Miami. The 1.4 million-square-foot, Class A office park is adjacent to Miami International Airport and State Road 836. The existing buildings are 97 percent leased to tenants such as Airbus, Caterpillar, FedEx, Sony, Estee Lauder and Baxter Healthcare. Allianz entered a joint venture with TIAA-CREF in 2015 upon purchase of a 49 percent stake in the Waterford complex. The Hogan Group expects to deliver the office building in mid-2017.

February 10, 2016

Colorado Multifamily Seniors Housing Western

Erickson Completes Second-Phase Expansion of CCRC in Colorado

by Nellie Day February 9, 2016

HIGHLANDS RANCH, COLO. — Erickson Senior Living has completed the Phase II expansion of Wind Crest, a continuing care retirement community (CCRC) in the Denver suburb of Highlands Ranch. Texas-based design firm studioSIX5 started the project with Erickson in 2012, adding a second neighborhood and spreading out amenities rather than concentrating them in a central community area. Erickson is a Baltimore-based owner/operator of CCRCs. The company manages eight communities totaling 5,787 units, according to June numbers from the American Seniors Housing Association.

February 9, 2016

Hospitality Texas

Hilton Worldwide Opens Embassy Suites by Hilton El Paso

by Haisten Willis February 9, 2016

EL PASO, TEXAS — Hilton Worldwide has opened the Embassy Suites by Hilton El Paso. The 187-room hotel, formerly the El Paso Suites, debuts following a multimillion-dollar renovation. TRS El Paso Property LLC owns the hotel and has selected Spire Hospitality to manage it. Two-room suites include a separate living area, private bedroom, two televisions, wet bar, microwave and mini-fridge. Amenities include a free breakfast, heated indoor pool, fitness center, business center and free Wi-Fi. The hotel features more than 5,400 square feet of flexible meeting space and can accommodate events of up to 200 guests. Located less than three miles from El Paso International Airport at 6100 Gateway Blvd. East, Embassy Suites by Hilton provides a free shuttle for arriving and departing guests.

February 9, 2016

Florida Industrial Southeast

Seefried Industrial Properties to Develop 275,226 SF Spec Industrial Facility in Lakeland

by John Nelson February 9, 2016

LAKELAND, FLA. — Seefried Industrial Properties has broken ground on a Class A, 275,226-square-foot spec industrial facility at Bridgewater Commerce Center in Lakeland. The property’s owner, USAA Real Estate Co., has tapped Clay Witherspoon of Avison Young’s Tampa office to lease the project, which is situated at the southwest quadrant of I-4 and Highway 33. Upon completion in the fourth quarter of 2016, the facility will feature 36-foot clear heights. Bridgewater Commerce Center’s existing tenants include JC Penney, Havertys, HD Supply, Empire, Southeastern Paper Group and TA Chen International Inc.

February 9, 2016

Illinois Industrial Midwest

Krusinski Construction Completes 250,000 SF Industrial Expansion for Ferrara Candy Co. in Bolingbrook

by Christina Cannon February 9, 2016

BOLINGBROOK, ILL. — Krusinski Construction Co. has completed a 250,000-square-foot expansion for Ferrara Candy Co. in Bolingbrook, approximately 30 miles southwest of Chicago. The facility was built adjacent to Ferrara’s existing 750,000-square-foot distribution facility. Harris Architects was the designer for the project, and Pearson Brown & Associates was the civil engineer of record. The facility features 62 dock positions and two drive-in doors. Cushman & Wakefield represented the landlord, Heitman, and CBRE represented the tenant.

February 9, 2016

Florida Industrial Southeast

PREMIER Design + Build Completes Construction of Spec Warehouse in Broward County

by John Nelson February 8, 2016

DAVIE, FLA. — PREMIER Design + Build Group LLC has finished construction on a speculative industrial warehouse in Davie, a town in Broward County. The 145,800-square-foot project, known as Bridge Point Davie, is located at 3501 S.W. 46th Ave. PREMIER completed the project on behalf of Bridge Development Partners LLC. Bridge Point Davie is a Class A facility featuring 32-foot clear heights, 43 truck dock positions, four drive-in doors, an ESFR fire protection sprinkler system and 241 parking stalls. Mark Melone and Michael Pacini of PREMIER were the project managers and Ed Lebak, also with PREMIER, was field superintendent. RLC Architects provided architectural services, and Landplan Engineering Group Inc. was the civil engineer. David Wigoda and Steve Wasserman of JLL are leasing the project on behalf of Bridge Development Partners.

February 8, 2016

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