RICHARDSON, TEXAS — Tom+Chee will join KDC’s 186-acre CityLine mixed-use development in Richardson. The restaurant is famous for its grilled cheese donut and is expected to open in May 2015. CityLine will be the first Texas location of Tom+Chee. Corey Ward and Trew Quackenbush founded the restaurant with the aim of becoming the quintessential grilled cheese and tomato soup shop. The 2,400-square-foot location will be located across from Aloft Hotel and will open in May 2015.
MIAMI — Swire Properties Inc. has topped off the 40-story EAST, Miami hotel, located at 89 S.E. Eighth St. in Miami’s Brickell neighborhood. The property is the first of six buildings to complete vertical construction in Swire’s $1.05 billion Brickell City Centre, a 5.4 million-square-foot mixed-use development. The hotel will feature 263 rooms, as well as 89 apartment units, a signature restaurant, meeting rooms, swimming pool and fitness center. The project team includes Americaribe and John Moriarty & Associates. EAST, Miami is slated to open in winter 2015.
AUSTIN, TEXAS — Trammell Crow Co., in partnership with Clarion Partners, has begun construction on two new buildings in Expo Business Park Phase II, a Class A industrial development in Austin. Phase II consists of two buildings totaling 239,205 square feet of warehouse, flex and manufacturing space. Expo 10 includes 109,203 square feet and Expo II spans 130,002 square feet. Each building will feature 28-foot clear heights, generous column spacing and 24 dock-high doors per building. Expo 10 and 11 will be complete in May 2015. Expo Business Park, located at 6231 E. Stassney Lane, includes 15.5 acres.
SACRAMENTO, CALIF. – The Sacramento Kings will soon play ball in a new 17,500-seat Entertainment and Sports Center (ESC) in Downtown Sacramento. The $477-million project is scheduled to open in September 2016. The Kings Arena is one facet of the larger ESC project. This redevelopment project will eventually envelope four Downtown city blocks. The multi-use Kings facility is set to include a state-of-the-art practice space and administrative offices. The larger redevelopment project will feature 1.5 million square feet of additional development, including 475,000 square feet of office space, 350,000 square feet of retail, a 250-room hotel and 550 residential units. The new project is anticipated to bring about 1.6 million new visitors to the region, generating $230 million in economic activity on an annual basis, according to reports. The project is aiming for LEED-Gold certification. It will be built by Turner Construction, while Clark Pacific will handle the majority of the concrete work.
IRVINE, CALIF. — KZ DevCo LP has announced plans to build 13 new CVS/Health and Longs drugstores in Hawaii and Southern California. This totals about $150-million worth of construction in the pipeline. KZ DevCo completed construction on five CVS Health/Longs Drugs stores in Hawaii and California this past year. The full-service commercial real estate development firm anticipates it will complete three more outposts in 2015, valued at more than $25 million. Some of the 13 new drugstores will be delivered to Murrieta, Chula Vista and Long Beach, Calif. They will also be completed on the islands of Oahu, Kauai and Maui, as well as on the Big Island. Though Longs was acquired by CVS/Health in 2008, the chain still exists in Hawaii. Once the current pipeline is cleared, KZ will have delivered a total of more than 45 CVS/Health and Long’s Drugs stores. Irvine, Calif.-based KZ DevCo specializes in shopping center development, single-tenant representation, property management and construction management.
ATLANTA — An affiliate of Boston-based Berkshire Group has purchased Crescent Terminus Community, a luxury apartment community in Atlanta’s Buckhead neighborhood, from Crescent Communities for an undisclosed price. The 355-unit is a three-building complex that features two rooftop terraces with an outdoor fireplace and TV, saltwater resort-style swimming pool, outdoor kitchen, tech lounge with Mac stations, wireless printing and a coffee bar. Crescent Terminus is part of a nine-property portfolio totaling 2,667 units that sold for a gross purchase price approaching $700 million. The portfolio’s purchasers were UBS and an affiliate of the Berkshire Group.
BATON ROUGE, LA. — IBM has topped off its new nine-floor technology center under construction in downtown Baton Rouge that will cost $30.5 million to develop. The technology center, which will reportedly create 800 jobs, is part of a $55 million urban development project that will also feature 525 Lafayette, a 10-story residential tower. Commercial Properties Realty Trust, a REIT, is building the urban development project and Wilbur Marvin Foundation will own it. The property is scheduled for completion in May 2015. The topping off ceremony was attended by Gov. Bobby Jindal, IBM vice president Tim McLachlan, Baton Rouge Area Foundation president and CEO John Davies and Louisiana Economic Development (LED) secretary Stephen Moret. LED offered IBM a performance-based incentive package that includes grants totaling $29.5 million over 12 years.
HOUSTON — Trammell Crow Co. and joint venture partner Clarion Partners have broken ground on Fallbrook Pines Business Park in northwest Houston. The first phase of the development, scheduled for completion in the first quarter of 2015, will include four concrete, tilt-wall office/warehouse buildings totaling 709,045 square feet. The 127-acre park is located near the intersection of Beltway 8 and Highway 249 on Fallbrook Drive. Phase two will include two side-load buildings, one cross-dock building and one front-load building designed to accommodate fenced, secured truck courts. Powers Brown Architecture is the project’s architect. Rosenberger Construction is the general contractor. Faron Wiley and Joseph Smith of CBRE’s Houston office will be the leasing agents.
BROOMFIELD, COLO. – The 51-unit Villagio Senior Living has broken ground in Broomfield. The memory care continuum community is located at 5866 West 120th Ave. Common-area amenities include 24-hour care, a gourmet dining experience and community programs. The new community is expected to open next fall. The community will be designed by Van Tilburg, Banvard & Soderbergh and built by Pinkard Construction. It is being developed by Blackwood Development and Choice Capital Partners.
ARLINGTON, VA. — Carr Properties has begun the demolition and pre-construction phase for a 175,000-square-foot, eight-story office building located at 2311 Wilson Blvd. in Arlington. The building, which is designed to achieve LEED Gold certification, will be ready for occupancy in 2017. The office building will feature street-level retail space, a conference room, restaurant and café, childcare facility, health club, bike room, rooftop terrace and an 18,000-square-foot urban park with gardens. Carr Properties has hired Spencer Stouffer, Krysta Herring and Phillip Thomas of Cassidy Turley to handle leasing the office building.
