development1

Hotel-ZaZa-Memorial-City-Houston-MetroNational[3]

MetroNational to Break Ground on Hotel Zaza Memorial City in Houston

by Haisten Willis October 5, 2015

HOUSTON — MetroNational, a Houston-based real estate investment, development and management company, has partnered with Z Resorts to construct Hotel ZaZa Memorial City at the intersection of I-10 and Bunker Hill Road in Houston. Hotel ZaZa Memorial City is the brand’s second Houston location. Kirksey Architecture will oversee the design and Anslow Bryant Construction is the general contractor of the property, which is slated to open in summer 2017. Hotel ZaZa Memorial City will include 159 guest rooms, along with 10,000 square feet of event and meeting spaces. Amenities will include a pool with bar and cabanas, a restaurant and lounge. MetroNational and Z Resorts are dedicating four levels of the 17-story hotel to 130 apartment units, with guests having access to all ZaZa amenities. Hotel ZaZa Memorial City will be located at 9787 Katy Freeway and will be the third property opening for the brand in 2017, joining Hotel ZaZa Austin in downtown Austin and Hotel ZaZa Wade Park in the north Dallas suburb of Frisco.

October 5, 2015

763-Unit Residential Tower Tops Outs on Jersey City Waterfront

by Amy Works October 5, 2015

JERSEY CITY, N.J. — Mack-Cali Realty Corp. and Ironstate Development Co. have topped out Urban Ready Life (URL) Harborside 1, a multifamily tower on the Jersey City waterfront. With views of the Manhattan skyline, the 69-story, 763-unit tower, which reaches 713 feet, is the tallest residential building in New Jersey. The tower is the first of three phases of a $330 million development, which will bring 2,358 residences to Jersey City upon completion. The first phase is expected to open for leasing in the fourth quarter of 2016. Dutch-based architectural firm Concrete is providing architectural services for the project.

October 5, 2015

Healthcare Illinois Midwest

Leopardo Breaks Ground on $61M Medical Facility in Orland Park

by Christina Cannon October 5, 2015

ORLAND PARK, ILL. — Leopardo has broken ground on the new $61 million University of Chicago Medicine Center for Advanced Care at Orland Park, approximately 25 miles southwest of downtown Chicago. The 108,000-square-foot, four-story facility is located at the intersection of 143rd Street and LaGrange Road. The facility is slated to open in late 2016 and will be the University of Chicago Medicine’s largest off-campus location. The building will consist of a pharmacy and 80 exam rooms and will provide services in radiation oncology, orthopedics, gastroenterology, cardiology, pediatrics, women’s health and surgical consulting. The project is a joint venture between Leopardo and The Bowa Group, in collaboration with architect Tsoi/Kobus & Associates.

October 5, 2015

Hospitality Louisiana Southeast

NewcrestImage Buys 13-Story Office Building in New Orleans for Dual-Branded Hotel Conversion

by John Nelson October 5, 2015

NEW ORLEANS — NewcrestImage, a Dallas-based hotel developer and operator, has purchased a 13-story office building located at 1600 Canal St. in New Orleans. The company plans to repurpose the vacant building into a 105-room TownePlace Suites by Marriott and a 78-room SpringHill Suites by Marriott. Built in 1960 and vacant for the past 10 years, 1600 Canal St. is located at the intersection of Canal Street and I-10, nine blocks from the French Quarter and adjacent to the new 1,500-acre, $1.2 billion BioDistrict development. The asking price for the office building was $6 million, but the sales price was undisclosed. The two hotels will share amenities, including a single lobby, registration desk, breakfast area and indoor bar. There will be a single management and sales team, as well as a single housekeeping staff. The rooftop will be renovated into an 8,000-square-foot garden overlooking Canal Street and will feature an outdoor bar, exercise room and laundry facilities. NewcrestImage plans to open the two hotels by December 2016. Upon completion, the dual-branded hotel building will be the first property to combine the TownePlace Suites and SpringHill Suites brands into one building.

October 5, 2015

Florida Industrial Southeast

MDH Partners to Develop Three Spec Industrial Buildings in Central Florida

by John Nelson October 5, 2015

DAVENPORT, FLA. — Atlanta-based MDH Partners has purchased 52 acres within Four Corners Business Park, an industrial campus located at the intersection of I-4 and U.S. Route 27 in Davenport, roughly 15 miles southwest of Orlando. MDH plans to develop three spec industrial buildings totaling 793,168 square feet at the site. The first two buildings, a 391,928-square-foot cross-dock building and a 112,580-square-foot rear-load building, are slated to begin construction immediately in time for a June 2016 occupancy. The third building, a 288,660-square-foot rear-load facility, will be ready for a late 2016 occupancy or is available earlier subject to potential build-to-suit opportunities. Lee Morris of Colliers International and Dave Buckner of Buckner Commercial Properties will jointly market the buildings for lease. JLL will provide property management on behalf of MDH.

October 5, 2015

Healthcare Office Texas

Duke Realty, Baylor Scott & White Break Ground on 75,000 SF Baylor McKinney II MOB Near Dallas

by Haisten Willis October 2, 2015

MCKINNEY, TEXAS — Baylor Scott & White Health, a not-for profit healthcare system, along with Duke Realty, an Indianapolis-based commercial real estate developer, have begun developing the 75,000-square-foot, three-story Baylor McKinney II medical office building (MOB) at 5252 W. University Drive in McKinney. The MOB will be located on the Baylor Medical Center at McKinney campus adjacent to Baylor McKinney I, a 114,924-square-foot MOB which opened in 2012. Baylor McKinney MOB II is expected to be complete in September 2016. The Dallas office of Medco Construction is the general contractor for the project, and the Dallas office of HDR is the architect.

October 2, 2015

Arkansas Retail Southeast

GBT Realty to Develop Shopping Center in Arkansas

by John Nelson October 2, 2015

BENTON, ARK. — GBT Realty Corp. has signed a contract to acquire a 28.8-acre parcel along I-30 West in Benton for the development of The Shoppes of Benton. The 170,000-square-foot regional shopping center will be GBT Realty’s first development in Arkansas. The Brentwood, Tenn.-based developer plans to close on the land purchase by the end of the year and break ground in the first quarter of 2016. The city of Benton passed a resolution in September that established a partnership with Benton Public Utilities Commission for $1.4 million in infrastructure improvements at the site, including water, sewer and electrical services. Valued at $36 million upon completion, The Shoppes of Benton will feature two anchor tenants, space for three junior anchors, 32,000 square feet of small shop space and four outparcels. GBT is currently finalizing negotiations with several national retailers, some first-to-market. The company expects to announce the initial tenant line-up early next year and complete construction by spring 2017.

October 2, 2015

California Office Western

Trio Purchases Land in San Jose for Multi-Phase Development

by Nellie Day October 2, 2015

SAN JOSE, CALIF. — Multi-Employer Property Trust (MEPT), Bentall Kennedy and Trammell Crow Company have purchased an 8.2-acre land parcel in San Jose for $58.5 million. The land is located at 374-384 West Santa Clara St. The land sits adjacent to the Diridon Station master plan, which is zoned for two 10-story office buildings and a nine-story multifamily building. Diridon Station links Caltrain to San Francisco, the ACE train service to the Central Valley and the Amtrak Capital Corridor train to the north. It will also house the future extension of BART, and will serve as the first Northern California stop for the potential high-speed rail service that would connect Los Angeles to the Bay Area. Diridon Station’s master plan will eventually create a transit hub similar to San Francisco’s Transbay District, according to Bentall Kennedy. The new development may include up to 960,000 square feet of tech-oriented office space, more than 30,000 square feet of retail and 325 multifamily residential units.

October 2, 2015

Hospitality Texas

Hill & Wilkinson Breaks Ground on $175M Redevelopment Project in Downtown Dallas

by Haisten Willis October 1, 2015

DALLAS — Hill & Wilkinson General Contractors has broken ground on a $175 million redevelopment project in downtown Dallas. Both the historic Statler Hilton Hotel, built in 1956 and located at 1900 Commerce St., and the adjacent Old Dallas Central Library will be renovated to create an entertainment hub. The 702,615-square-foot project includes complete restoration of the buildings’ exteriors and the conversion of the upper 11 stories into 229 residential units. The five middle stories will be converted into 164 hotel rooms. Two lower floors will be converted into ballrooms, meeting rooms, hotel services, lobbies, restaurants and retail space. The Jackson Street and basement levels of the Statler Hilton and the library will be converted into a 250-car parking garage. Centurion American Development Group is the owner and developer. Merriman Associates/Architects Inc. is the architect, and Besharkhah Engineering Inc. is the engineer for the project. Centurion plans to apply for Historic Tax Credits, and the city of Dallas has provided $43.5 million in tax increment financing for the redevelopment, which is slated for completion in December 2016.

October 1, 2015

Georgia Office Southeast

FD Stonewater to Develop $101M FBI Facility in Atlanta

by John Nelson October 1, 2015

ATLANTA — The U.S. General Services Administration (GSA) has awarded a $101 million, 20-year lease contract to Arlington, Va.-based FD Stonewater to develop a build-to-suit facility in Atlanta for the Federal Bureau of Investigation (FBI). The FBI Atlanta Field Office will occupy the 151,066-square-foot project. FD Stonewater expects to break ground on the facility in early 2016 and deliver it in 2017. The building is the 14th build-to-suit lease project that FD Stonewater and its affiliates have developed on behalf of the GSA. Powers Brown Architecture is the lead designer for the project, and Harvey Cleary Builders is the general contractor.

October 1, 2015

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