development1

King Mill Distribution Park South Atlanta

Trammell Crow, Allstate Acquire Site to Develop Industrial Park in South Atlanta

by John Nelson February 20, 2015

ATLANTA — Trammell Crow Co. and Allstate have acquired a 44-acre land site in the South Atlanta industrial submarket to develop a new industrial park. King Mill Distribution Park will be an 846,496-square-foot, Class A distribution center built on a speculative basis. Located along I-75 in Henry County, the industrial building will feature 36-foot clear heights, trailer storage, employee vehicle parking and two separate entrances. Jeff Torto and Mike Everly of CBRE Global Investors are co-portfolio managers with Allstate in the development. Trammell Crow expects construction to start in the spring and wrap up by the end of the year.

February 20, 2015

Industrial Northeast Pennsylvania

Construction Begins for 1.02M SF Distribution Facility at Prologis Carlisle

by Amy Works February 20, 2015

CARLISLE, PA. — Prologis has broken ground for construction on a distribution facility at its Prologis Carlisle site. Situated on 105 acres off Allen Road in Carlisle, the 1.02 million-square-foot building is Prologis’ first speculative development in the market since 2007. The property also includes an additional build-to-suit site fully approved for 398,840 square feet. Slated for occupancy in August, the facility will feature 36-foot ceiling heights and 7-foot concrete floors to provide tenants with greater efficiency and increased cubic capacity for racking and stacking. Cushman & Wakefield is the leasing agent for Prologis Carlisle industrial park.

February 20, 2015

Illinois Midwest Retail

Inland Real Estate Corp. to Redevelop Joliet Commons Shopping Center in Joliet, Ill.

by Danielle Everson February 19, 2015

JOLIET, ILL. — Inland Real Estate Corp. (IRC) is redeveloping Joliet Commons, a power center in Joliet, and adding a new 65,000-square-foot building for Dick’s Sporting Goods and DSW. Construction on the project is set to begin this spring. To accommodate the new tenants, IRC will redevelop a former movie theater at the center into a brand new building for the retailers. With the addition of the new building, the total gross leasable area of Joliet Commons will increase to 229,000 square feet. Dick’s Sporting Goods and DSW will join other national retailers at the center such as PetSmart, Old Navy, Party City and Famous Footwear. The project is expected for completion this fall.

February 19, 2015

Mixed-Use Texas

54 Acres Sold For New Mixed-Use Development in Metro Dallas

by Haisten Willis February 19, 2015

RICHARDSON, TEXAS — BC Station Partners LLC has purchased 54 acres in Dallas from the W.W. Caruth Jr. Foundation at Communities Foundation of Texas. The land is located at the southeast corner of Central Expressway and the President George Bush Turnpike. The site is for a new mixed-use project. The development will include office, retail and residential components. Upon completion, it is expected to include more than 1.35 million square feet of office space, 100,000 square feet of retail, 1,250 multifamily units and two hotels. The approximately $500 million, transit-oriented development will be immediately west of the CityLine project and adjacent to DART’s Bush Turnpike light rail station. Trammell Crow Residential (TCR) is scheduled to break ground on the first phase of the multifamily and retail section at the site in March. The first units are scheduled for delivery in late summer of 2016. Transwestern Development Co. is also in the planning phase for the site’s office component, which would be located at the northeast corner of Central and Renner Road.

February 19, 2015

Alabama Multifamily Southeast

Doster Construction Breaks Ground on Iron City Lofts in Downtown Birmingham

by John Nelson February 19, 2015

BIRMINGHAM, ALA. — Doster Construction Co. has broken ground on the Iron City Lofts, a 67-unit urban infill multifamily project in downtown Birmingham. The apartment complex will be located adjacent to Birmingham’s Lakeview district and Pepper Place, a farmers market establishment operating from April to December. The property’s amenity package includes a fitness center, elevated pool and deck, leasing center and surface level parking. The development team includes developer KRE Development Holdings and architect Hendon + Huckestein Architects PC.

February 19, 2015

Florida Mixed-Use Multifamily Southeast Student Housing

Landmark, AIG to Develop Mixed-Use Project in Gainesville

by John Nelson February 19, 2015

GAINESVILLE, FLA. — Landmark Properties and AIG Global Real Estate have acquired the land for their upcoming development, The Standard at Gainesville, a 1,200-bed, mid-rise, mixed-use student housing development with approximately 60,000 square feet of retail space and a 142-room select-service hotel. The project is set to commence construction in the spring with delivery slated for fall 2017. The Standard at Gainesville will be adjacent to the University of Florida campus and steps from restaurants, shops and nightlife. The Standard will feature more than 20 unique floor plans, including studio, one-, two-, three-, four-, five- and six-bedroom units. The community will offer on-site management, two rooftop pools, resident centers with 24-hour study lounges, a spa, game room, golf simulator, racquetball courts and a fitness facility. Parking will be available for purchase as part of the residential lease package and will be located within the community and accessible via skybridge.

February 19, 2015

Hotel Thomas Jefferson Downtown Birmingham

Alabama Mixed-Use Multifamily Southeast

Stewart/Perry Co. Breaks Ground on $20M Conversion of Former Hotel in Downtown Birmingham

by John Nelson February 18, 2015

BIRMINGHAM, ALA. — The Stewart/Perry Co., a construction firm based in Birmingham, has started construction at the former Hotel Thomas Jefferson site in downtown Birmingham. The $20 million project will convert the historic hotel into a mixed-use apartment building with 96 residential units and ground-floor retail space. The 20-story structure, which was built in 1929 as a 350-room hotel, is best known for having the world’s last zeppelin mooring mast on the rooftop, which will be preserved in the new project. Scott Reed of Reed Realty Advisors has partnered with Brian Beshara and Adam Beshara of Beshara Investment Group to develop the property. The team has utilized historic tax credits administered by the National Park Service, as well as a new funding program operated by the state of Alabama. The project team expects to deliver the new apartment tower in the second quarter of 2016.

February 18, 2015

Georgia Restaurant Retail Southeast

Westside Ironwroks in Atlanta Adds Retailer, Restaurants to Tenant Roster

by John Nelson February 18, 2015

ATLANTA — Westside Ironworks, a 19,000-square-foot, $8.5 million retail redevelopment in Atlanta’s West Midtown neighborhood, has added three new tenants, bringing its pre-leasing to 75 percent occupancy. The new tenants include O-Ku (3,200 square feet), a Southern-style sushi restaurant; Dixon Rye (5,000 square feet), an upscale, rustic-style home furnishings retailer; and Tom+Chee (2,600 square feet), a café-style, comfort food restaurant known for its Grilled Cheese Donut. All three retailers are expected to open this fall. The Westside Ironworks redevelopment transforms the former site of Iron-Works International Inc. into a retail destination. The project is spearheaded by Westside Ironworks LLC, a partnership between Frank Buonanotte and Jeff Stein. Buonanotte is the founder and chairman emeritus of The Shopping Center Group and the founder and principal of Metro Real Estate Investment Advisors, a real estate investment fund. In 2010, Stein founded Stein Investment Group, which has invested in and is actively acquiring real estate throughout metro Atlanta and the Southeast.

February 18, 2015

Massachusetts Northeast Office

CBT Architects Selected to Transform Spear Street Capital’s Riverworks Property

by Amy Works February 17, 2015

WATERTOWN, MASS. — Spear Street Capital has selected CBT Architects to reposition its 200,000-square-foot Riverworks property in Watertown. CBT Architects plans to transform the three historic mill buildings into an integrated office campus. The company will renovate and upgrade the common areas, including the courtyard, lobby and café; upgrade signage; and perform general architectural services for the property, such as space planning. CBT’s design for the property blends a mix of modern and traditional materials and motifs to create inviting and attractive spaces. The project includes work on the main entrance/arrival area, lobby, common hallways and elevator lobbies and fitness center, as well as the café and dining spaces located along the Charles River.

February 17, 2015

Domain at Oxford University of Mississippi

Mississippi Multifamily Southeast Student Housing

ACH to Develop 642-Bed Student Housing Community at University of Mississippi

by John Nelson February 17, 2015

OXFORD, MISS. — Asset Campus Housing (ACH) has begun construction on Domain at Oxford, an off-campus student housing community in Oxford that will serve University of Mississippi students. The leasing center will open this fall, and the community will open for residents in fall 2016. Domain at Oxford will be a gated 216-unit property with 642 beds located within one mile of the University of Mississippi. The community will provide students with floor plan options including one-, two-, and four-bedroom apartments and townhomes. Every fully furnished apartment will come standard with hardwood-style floors, granite countertops, flat-screen TVs, stainless steel appliances, private bathrooms, full-size washer and dryer and other features. Domain at Oxford will feature an 11,000-square-foot clubhouse, a resort-style pool, Internet café, outdoor fire pit, sand volleyball, poolside hammock lounge area, video gaming center, complimentary tanning, group fitness studio, 24-hour gym and multiple private group study rooms.

February 17, 2015

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