development1

LCOR Closes on $59M Construction Loan for Multifamily Development in Northern Virginia

by John Nelson July 1, 2015

MCLEAN, VA. — LCOR has received a $59 million loan from Santander Bank to construct a multifamily property at 7480 Birdwood Ave. in McLean, roughly 10 miles west of Washington, D.C., in the Tysons region of northern Virginia. LCOR plans to redevelop the land into two residential buildings spanning 12 and 15 stories that will be connected by a central sky bridge. Totaling 340,000 square feet, the property will comprise 11,000 square feet of amenity space, 388 below grade parking spaces and 319 residential units, of which 64 units will be reserved for Workforce Dwelling Units. Upon completion in the first quarter of 2017, the project will include a mix of studio, one-, two- and three-bedroom apartments with duplex units featured on the ground floor. The residences will feature carpeted bedrooms, vinyl wood plank flooring in the kitchen and living areas and ceramic tiles in the bathrooms. Stainless steel appliances will be featured in the kitchen. The project’s amenities will include an outdoor swimming pool, fitness center, game center, kids room, party space, bicycle storage, dining room, pet grooming station, glass-enclosed Sky Lounge on the 10th floor and a rooftop amenity area with garden plots located on the west tower. …

July 1, 2015

California Retail Western

The Village at Westfield Topanga to Open in Los Angeles

by Nellie Day July 1, 2015

LOS ANGELES — The Village at Westfield Topanga, an over 1 million-square-foot addition to the power shopping center Westfield Topanga, is set to open mid-September in the Los Angeles neighborhood of Woodland Hills. The center will include retailers new to the Los Angeles area including Fabletics, an athletic apparel brand co-founded by actress Kate Hudson, DAVIDsTEA, Rain and ConfeXion, a champion bakery on Food Network’s television show “Cupcake Wars.” The Crate & Barrel store at The Village is already open, and will remain so throughout construction.

July 1, 2015

Hospitality New York Northeast

NYC’s New Marriott Fairfield Inn & Suites to Top Out in July

by Amy Works June 30, 2015

NEW YORK CITY — Being developed by Barone Management, the new Marriott Fairfield Inn & Suites in New York City is slated to top out in July. Located at 538 W. 58th St., the 86,000-square-foot hotel will feature 226 rooms in two seemingly separate structures, an 18-story tower and adjoining 10-story building. The property will feature a streetside plaza, an office center, a fitness center and a breakfast bar. Gene Kaufman Architect is serving as architect for the project.

June 30, 2015

Florida Multifamily Southeast

Suffolk Construction Completes $33.4M Apartment Community in Fort Lauderdale

by John Nelson June 30, 2015

FORT LAUDERDALE, FLA. — Suffolk Construction has delivered The Manor: Lauderdale by the Sea, an eight-story, 264-unit luxury apartment community in Fort Lauderdale. The $33.4 million property includes a parking garage, fitness center with zen shower, cyber café, clubhouse, formal meeting and dining space, infinity-edge pool, hot tub built into the center of the building and private poolside cabanas for the second-floor deck units. The Related Group is the developer of the project, and RLC Associates is the architect.

June 30, 2015

Florida Retail Southeast

Skanska to Renovate, Expand Tampa Airport for $60M

by John Nelson June 29, 2015

TAMPA, FLA. — Skanska has signed a $60 million contract to renovate and expand the Tampa International Airport (TPA) Main Terminal building in Tampa. When completed, the project will add 53,819 square feet to the terminal’s third-floor transfer level, with nearly 15,069 square feet of indoor public seating and large outdoor terraces. Skanska began construction of the expansion in December 2014. The renovation will begin in July 2015, and the total project is slated for completion in November 2017.

June 29, 2015

Florida Retail Southeast

The Sembler Co. Breaks Ground on Publix-Anchored Shopping Center in Florida

by John Nelson June 29, 2015

TRINITY, FLA. — The Sembler Co. has broken ground on the 65,000-square-foot Shoppes at Trinity Lakes, a Publix-anchored shopping center located in the southeast quadrant of State Road 54 and Trinity Boulevard in Trinity. In addition to the 45,600-square-foot Publix and 1,400-square-foot Publix Liquor Store, Sembler has signed leases with retailers new to the Trinity market, including Orange Theory Fitness, Moe’s Southwest Grill, China Wok, Nail Dior Lounge, Hair Cuttery and Majik Touch Cleaners. The secured leases total nearly 11,000 square feet. The Shoppes at Trinity Lakes also includes three outparcels, two of which are under contract.

June 29, 2015

Florida Industrial Southeast

Meridian Begins Construction on Distribution Center in West Palm Beach

by John Nelson June 26, 2015

WEST PALM BEACH, FLA. — Meridian Design Build has broken ground on a 225,198-square-foot sorting and distribution facility in West Palm Beach. The project is a build-to-suit for a global shipping and information services firm. SunCap Property Group is developing the asset, which will be located on a 27.2-acre site at the southeast corner of Pike Road and 7th Place North. Meridian is currently demolishing two existing buildings and a significant amount of asphalt and concrete pavement, which will be broken up on-site and incorporated into the new construction. Upon completion, the facility will feature 8,160 square feet of office space, 51 loading docks, 153 interior van loading positions, 390 auto parking stalls and 134 exterior trailer stalls. In addition to Meridian and SunCap, the design team includes architect Ware Malcomb and civil engineer Langan.

June 26, 2015

Office Texas

Toyota Unveils Design for New North American Headquarters in Plano

by Haisten Willis June 25, 2015

PLANO, TEXAS — Toyota Motor North America has unveiled architectural renderings of its future North American headquarters, providing new details of the site layout and exterior design of its corporate campus. Designed by Corgan Associates, the architectural renderings offer a number of different perspectives and details of the proposed Toyota campus. The complex will include seven buildings, up to five stories tall, arranged around a central plaza that serves social and business functions such as dining, fitness and conferencing. Building facades are predominantly glass, with roof overhangs along the southern exposures to cast shade. The design utilizes local and regional materials and low-water plants that reflect the native landscapes of north-central Texas, along with water features for catching and storing water for irrigation and parking structures and office buildings that can support solar panels for renewable energy production. Toyota intends to pursue LEED Platinum certification for the campus.

June 25, 2015

Loans South Carolina Southeast Student Housing

MB Financial Bank Provides $40.3M Construction Loan for Student Housing in Columbia

by John Nelson June 24, 2015

COLUMBIA, S.C. — Chicago-based MB Financial Bank has provided a $40.3 million construction loan for the development of a 218-unit student housing development near the University of South Carolina in Columbia. The 660-bed property will be located at the corner of Gervais and Harden streets in Columbia’s Five Points district. MB Financial Bank provided the loan to Chicago-based Blue Vista Capital Management. The unnamed developer plans to deliver the asset in time for the fall 2016 semester.

June 24, 2015

North Carolina Office Southeast

Dominion Realty Partners Opens Charter Square Office Building in Downtown Raleigh

by John Nelson June 23, 2015

RALEIGH, N.C. — Dominion Realty Partners has opened Charter Square, a Class A, 242,969-square-foot office tower in downtown Raleigh. Situated on the south end of Fayetteville Street, the 11-story building is located in the city’s growing technology hub immediately adjacent to the Duke Energy Performing Arts Center, Raleigh Convention Center and Raleigh Marriott City Center. The property opened at 56 percent occupancy with tenants such as Womble Carlyle Sandridge & Rice LLP, HDR Engineers, Industrious, CBRE Raleigh, JDavis Architects, Intelligent Office, Dominion Realty Partners, Yadkin Bank and a restaurant by Eschelon Hospitality. When construction began in spring 2014, the property was 100 percent speculative. Charter Square features a blue glass exterior, outdoor plaza, card access control systems, direct underground parking and on-site security. Dominion Realty Partners teamed up with Prudential Real Estate Investors to develop the office building.

June 23, 2015

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