development1

Goria, Richardson Properties to Break Ground on 300,000 SF Spec Industrial Project

by John Nelson January 7, 2015

GREENSBORO, N.C. — McConnell Center Two LLC, a joint venture between Goria Properties and Richardson Properties, will soon begin construction on a new 300,000-square-foot speculative industrial building in McConnell Center Industrial Park. This will be the third speculative industrial property in the park, which is located off I-40 near McConnell Road in Greensboro. The joint venture has selected Triad Commercial Properties to lease the asset. General contractor Windsor Commercial is expected to complete shell construction in July 2015.

January 7, 2015

California Retail Western

Hollywood Park Land Co. to Build Sports, Entertainment Complex in LA

by Nellie Day January 7, 2015

LOS ANGELES — Hollywood Park Land Company has announced plans to develop a new sports and entertainment district in the Los Angeles submarket of Inglewood. The development is named the “City of Champions Revitalization Project.” The new development “builds on the momentum of the original 238-acre, mixed-use project currently under construction at Hollywood Park after years of community engagement and the approval of entitlements by the Inglewood City Council in 2009,” according to a statement from the land company. Hollywood Park Land Co. is a joint venture between Stockbridge Capital Group and the Kroenke Group (TKG). Stockbridge purchased the original 238-acre Hollywood Park site in 2005. The Kroenke Group purchased an adjacent 60-acre parcel in 2013. The two then joined forces through the Hollywood Park Land Co. venture in 2014 to develop the project. The 298-acre project will include a stadium of up to 80,000 seats and a performance venue of up to 6,000 seats. It will also reconfigure the previously approved Hollywood Park plan that called for up to 890,000 square feet of retail, 780,000 square feet of office space, 2,500 new residential units, a 300-room hotel, and 25 acres of public parks, playgrounds, open space, and pedestrian and …

January 7, 2015

Healthcare Illinois Midwest Office

HSA PrimeCare Completes Development of Silver Cross Business Center

by Danielle Everson January 6, 2015

CHICAGO — HSA PrimeCare has completed the development of a 30,000-square-foot business center at Silver Cross Hospital in New Lenox. The two-story administrative building is on the east side of campus located at 1900 Silver Cross Blvd. HSA Primecare has now developed three medical buildings on the Silver Cross campus totaling more than 100,000 square feet. Itasca, Ill.-based Premier Design + Build Group served as the general contractor for the project. Partners in Design Architects provided architectural design services.

January 6, 2015

Industrial New Jersey Northeast

Construction Underway for New Facility at LogistiCenter Logan in New Jersey

by Amy Works January 6, 2015

LOGAN TOWNSHIP, N.J. — Dermody Properties has started construction on a multi-tenant industrial facility at LogistiCenter Logan, its 7.4-million-square-foot industrial park in Logan Township. Located at 1110 Commerce Blvd., the facility will total 171,600 square feet. Upon completion, the facility will be fully operational and suited for e-commerce, food and beverage, and consumer product warehousing and distribution. The facility will feature 32-foot clear heights, 105 car parking spaces and 39 trailer parking spaces. Blue Rock Construction is serving as construction partner for the property, which is being marketed by Colliers International. Great Point Investors LLC is the strategic capital partner on the project. Construction is slated for completion this summer.

January 6, 2015

Multifamily Texas

Amstar, Transwestern to Build Apartments in San Antonio

by Haisten Willis December 26, 2014

SAN ANTONIO — Amstar has acquired a 2.3-acre development site in San Antonio. The company, along with its development partner Transwestern Development Co., will construct a 229-unit apartment building on the site. The infill development, known as Southtown Flats, will begin construction in January of 2015 with the first units scheduled for completion in early 2016. Southtown Flats will be located at 111 Probandt St. near many local restaurants, bars and shopping destinations. Amenities include a pool with outdoor kitchens and cabanas, bicycle storage rooms, roof deck, grilling stations, clubhouse, gym and a yoga studio.

December 26, 2014

Civic Florida Southeast

Skanska USA to Build $101M Museum of Science in Miami

by John Nelson December 23, 2014

MIAMI — Skanska USA has signed a $101 million contract to build The Patricia & Phillip Frost Museum of Science in Miami. The 250,000-square-foot property will be located within the new Museum Park complex adjacent to the Perez Art Museum Miami overlooking Biscayne Bay and PortMiami. The new museum will include a planetarium, 500,000-gallon saltwater aquarium, five-story Innovation Center, sustainable roof with a hydroponic garden and exhibition galleries. The architect, Grimshaw Architects, is designing the museum to achieve LEED Platinum certification. Skanska USA plans to complete the museum in the summer of 2016.

December 23, 2014

Georgia Industrial Southeast

TPA Group Underway on Two Industrial Projects in Metro Atlanta Totaling 1.7M SF

by John Nelson December 23, 2014

ATLANTA — TPA Group has broken ground on two industrial facilities in metro Atlanta totaling roughly 1.7 million square feet. The properties include the 1.1 million-square-foot Fairburn Logistics Center in South Fulton County and the 614,000-square-foot Broadway Distribution Center in Braselton. Fairburn Logistics Center is a cross-dock building that will be located on Bohannon Road adjacent to the CSX Intermodal facility. The property features 36-foot clear heights and heavy trailer and car parking. Broadway Distribution Center will be located on Broadway Avenue with direct access to I-85. Both facilities will be built on a speculative basis. Mark Hawks and Todd Barton of CBRE will spearhead leasing efforts at the two properties.

December 23, 2014

Illinois Loans Midwest

Leopardo Cos. Completes 113,000 SF Seniors Housing Project in Chicago MSA

by Danielle Everson December 22, 2014

NORTHBROOK, ILL. — Leopardo Cos. Inc. has completed construction of The Evergreen, a new 113,000-square-foot independent living facility in Northbrook, a suburb of Chicago. The three-story seniors housing facility is part of the 55-acre Covenant Village of Northbrook campus, a Covenant Retirement Community. Serving as general contractor, Leopardo worked in collaboration with PFB Architects to complete the 56-unit residential complex. The Evergreen features one-, two- and three-bedroom apartments. A 60-vehicle underground parking facility was also completed on the campus.

December 22, 2014

Loans Mixed-Use New York Northeast

HFF Arranges $40M Loan for SoHo Mixed-Use Development

by Amy Works December 22, 2014

NEW YORK CITY — HFF has arranged $40 million in financing for the fee simple interest of 300 Lafayette, a development site located at the corner of Lafayette and Houston streets in Manhattan’s SoHo neighborhood. The firm worked on behalf of the borrower, LargaVista Cos., to secure the 20-year, fixed-rate loan through a national life insurance company. The development site is an 11,622-square-foot site with 365 feet of frontage along Crosby, Lafayette and Houston streets. A joint venture between LargaVista Cos. and Related Cos. plans to construct a seven-story mixed-use, retail and office building on the property. Mike Tepedino and Michael Gigliotti of HFF negotiated the transaction.

December 22, 2014

Florida Hospitality Southeast

New Holiday Inn Express Under Construction in Trinity, Fla. Will Be City’s First Hotel

by John Nelson December 19, 2014

TRINITY, FLA. — The new Holiday Inn Express in Trinity, a town in west Florida roughly 33 miles northwest of Tampa, will be the first-ever hotel in the city. The 86-room hotel will feature a swimming pool available 24 hours, fitness center and 46-inch TVs and Wi-Fi in every room. Berkshire Hathaway HomeServices Florida Porperties Group brokered the sale of the hotel, which will be delivered in fall 2015. MPH Hotels will operate the new Holiday Inn Express upon completion.

December 19, 2014

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