development1

Amazon Opens First Bookstore in Seattle

by Nellie Day November 17, 2015

SEATTLE — Online retail giant Amazon has opened its first brick-and-mortar bookstore, Amazon Books, at University Village in north Seattle. The store opens 20 years after Amazon began selling books — severely discounted compared to traditional retailers — over the Internet. The 5,500-square-foot store, which offers as many as 6,000 titles and an additional 2,000 square feet of storage, is a physical extension of the company website, combining the benefits of online pricing with traditional book shopping, the company told the Associated Press in a statement. Inside the store, shoppers will find book displays that contain cards with ratings and reviews. Shoppers can buy the book now, or save the review card and purchase the book online later. The store will not be a location to pick up Amazon orders. While the store will showcase Amazon’s Kindle e-readers, Fire tablets and Fire TV streaming-media devices, it will focus first on being a bookstore. All books will face outward, displaying their entire covers rather than only the spines showing.

November 17, 2015

99-Ranch-Market-Carrollton-Town-Center-Texas

Retail Texas

NewQuest to Expand Carrollton Town Center in Metro Dallas

by Haisten Willis November 17, 2015

CARROLLTON, TEXAS — NewQuest Properties is set to expand the 154,863-square-foot Carrollton Town Center, where a $7 million redevelopment is attracting the first stores in Texas for several Asian brands. NewQuest bought the shopping center at 2540 Old Denton Road in spring 2014 and began redevelopment in June of the same year. The Houston-based developer has acquired 4.7 acres across the street for a second phase. Engineering work has begun for the shopping center’s expansion at the intersection of President George Bush Turnpike and Old Denton Road. New tenants include California-based 99 Ranch Market, a specialty grocer catering to the Asian-American community, Gen Korean BBQ House and Kula, a revolving sushi bar which will total 3,111 square feet.

November 17, 2015

Mixed-Use Multifamily New York Northeast Retail

JV Acquires Brooklyn Development Site for $50M

by Amy Works November 17, 2015

NEW YORK CITY — A partnership between Adam America, Slate Property Group and China Vanke has acquired a development site, located at 10 Nevins in downtown Brooklyn, for $50 million. The site is approved for plans to develop a mixed-used project with 184 residential units and ground-floor retail space. Ofer Cohen and Melissa Warren of TerraCRG were the sole brokers in the transaction. The name of the seller was not released.

November 17, 2015

District of Columbia Multifamily Southeast

CAS Riegler Completes Apartment Community in D.C.’s Logan Circle Neighborhood

by John Nelson November 17, 2015

WASHINGTON, D.C. — CAS Riegler Cos. has completed construction on HOLM, a 38-unit luxury apartment community located at 1550 11th St. N.W. in Washington, D.C.’s Logan Circle neighborhood. The four-story property includes a rooftop deck, approximately 3,000 square feet of street-level retail space, catering kitchen, below-grade parking garage, private courtyard and bike storage. This new apartment community is pet-friendly and is situated right across the street from Shaw Dog Park and four blocks for a Metrorail station. Monthly rental prices start at $2,250 for one-bedroom apartments and $3,200 for two-bedroom units; penthouse apartments range from $4,200 for a one-bedroom unit to more than $7,500 for a three-bedroom residence.

November 17, 2015

Georgia Hospitality Southeast

Winter Construction Expands Chateau Elan Winery & Resort

by John Nelson November 17, 2015

BRASELTON, GA. — Winter Construction has completed a 33,000-square-foot, two-level addition to the Chateau Elan Winery & Resort, a four-diamond hotel in Braselton. The addition includes a ballroom with partitions, pre-function and service space, restrooms, storage and office space. The new Paris Ballroom features 20-foot ceilings, French chandeliers and an outdoor terrace. The addition is the largest construction project at the hotel in recent years, according to Winter Construction. The Atlanta-based general contractor worked with architect Chapman, Griffin, Lanier, Sussenbach Architects on the addition.

November 17, 2015

Office Texas

Stream Realty Partners Completes 101,000 SF Office Building in San Antonio

by Haisten Willis November 16, 2015

SAN ANTONIO — Stream Realty Partners has completed an office development called One51 Office Centre. The speculative two-story, 101,000-square-foot office building is located in San Antonio’s Westover Hills submarket. Located at the south side of Highway 151, the Class A office building stretches across 8.3 acres. The property, owned and developed by Stream Realty, offers access to Highway 151, 50,000-square-foot plates, 615 parking spaces and green space with mature trees. Stream Realty’s Ryan Harrison and Carolyn Hinchey Shaw will lease the office property. Westover Hills houses 15 corporate campuses.

November 16, 2015

Florida Multifamily Southeast

Crescent Communities Opens New Apartment Community in Downtown Orlando

by John Nelson November 16, 2015

ORLANDO, FLA. — Crescent Communities has opened Crescent Central Station, a new transit-oriented apartment community located immediately adjacent to a SunRail commuter train station in downtown Orlando. The 279-unit property is located at the corner of North Orange Avenue and Amelia Street and includes an extension of the Gertrude’s Walk park and trail and downtown Orlando’s only off-leash, public dog park. Other amenities include bike storage, a resort-style pool, sundeck, rooftop terrace and a two-story fitness center. Units include granite countertops, stainless steel appliances, upscale lighting fixtures and USB power outlets. Lincoln Property Co. manages Crescent Central Station. The project was financed through an equity investment from Crescent Communities and debt from Synovus Bank and Nationwide. The design team included general contractor Winter Park Construction, architect Lord Aeck Sargent and civil engineer GAI.

November 16, 2015

North Carolina Retail Southeast

Barnett Properties Breaks Ground on Publix-Anchored Shopping Center in Metro Raleigh

by John Nelson November 16, 2015

APEX, N.C. — Barnett Properties has begun construction on Publix Pointe, a grocery-anchored shopping center located in Apex, a western suburb of Raleigh in Wake County. A 46,500-square-foot Publix will anchor the 75,000-square-foot shopping center, which will feature 25,000 square feet of retail shop space and three outparcels. Barnett Properties plans to deliver Publix Pointe in late 2016 or early 2017.

November 16, 2015

Mixed-Use Multifamily Northeast Office Pennsylvania Retail

The Waterfront Development Co. Breaks Ground for $400M Mixed-Use Development in Allentown

by Amy Works November 13, 2015

ALLENTOWN, PA. — The Waterfront Development Co. has broken ground for a $400 million mixed-use development along the western banks of the Lehigh River in Allentown. Spanning 26 acres, the project will include six office buildings, including the 157,498-square-foot 615 Waterfront Drive and the 131,457-square-foot 645 Waterfront Drive; three residential complexes, totaling 425 market-rate apartments; three parking structures; a main street and half-mile River Walk. Additionally, each of the 12 new buildings will offer retail and restaurant space. The development company comprises Jaindl Properties LLC, Dunn Twiggar Company LLC and Michael Dunn Co. LTD. Site-wide infrastructure is slated to take approximately 18 months, though building construction will be phased in and begin at any time during that timeframe. The project is expected to take approximately eight years for full build-out.

November 13, 2015

Loans Multifamily New York Northeast

First Niagara Provides $6.4M Construction Loan for Multifamily Development in Rochester

by Amy Works November 13, 2015

ROCHESTER, N.Y. — First Niagara Financial Group Inc. has provided a $6.4 million construction loan to Conifer Realty LLC for the development of Market Apartments at Corpus Christi. Located on East Main Street in Rochester’s Market neighborhood, the affordable housing development, which is tailored for local artists, will feature 42 energy-efficient apartments, including one- and two-bedroom units; art studio and work space; and plans to add a rehearsal space for musicians in a neighboring building. Additionally, the property is located within walking distance to public transportation and retailers. Conifer-LeChase Construction, a partnership between Conifer and LeChase Construction Services, is serving as general contractor for the project.

November 13, 2015

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