development1

VanTrust Real Estate Breaks Ground on 483,698 SF Industrial Project in El Paso

by Taylor Williams June 23, 2022

EL PASO, TEXAS — Kansas City-based developer VanTrust Real Estate has broken ground on Phase II of El Paso Logistics Park, a project that will add 483,698 square feet of Class A industrial space across two buildings to the local supply. VanTrust completed Phase I of the 59-acre development in February. Each building will feature 32-foot clear heights, 52 dock positions, ESFR sprinkler systems and parking for more than 150 cars and 85 trailers. Upon completion of Phase II in April 2023, El Paso Logistics Park will total nearly 1 million square feet across six buildings. CBRE is leasing the development.

June 23, 2022

Development Industrial New Jersey Northeast

2020 Acquisitions Underway on 610,000 SF Distribution Center in Mansfield, New Jersey

by Taylor Williams June 23, 2022

MANSFIELD, N.J. — Developer 2020 Acquisitions is underway on construction of a 610,000-square-foot distribution center in the Central New Jersey city of Mansfield. The site spans 47 acres and is located at 5206 Route 130. The facility will feature 123 loading docks, four drive-in ramps, a clear height of 40 feet, an ESFR sprinkler system and parking for 95 trailers and 173 cars. Delivery is slated for this summer. JLL has been tapped to lease the project.

June 23, 2022

Affordable Housing California Development Loans Multifamily Western

KeyBank Provides $53.2M Financing for Tiburon Affordable Housing Development in San Luis Obispo, California

by Amy Works June 23, 2022

SAN LUIS OBISPO, CALIF. — KeyBank Community Development Lending and Investment has provided $53.2 million in financing for the development of Tiburon, an affordable multifamily property in San Luis Obispo. KeyBank provided a $28 million construction loan and a $2.3 million permanent loan, as well as $22.9 million in low-income housing and state housing tax credit equity, to People’s Self Help Housing, a San Luis Obispo-based affordable housing development and management company. Situated on 2.1 acres, Tiburon will feature 68 units in a mix of studio, one- and two-bedroom units spread across two three-story residential buildings with a community center. The units are designated for individuals and families within the 25, 30, 40, 50 and 60 percent area median income levels. The units at 25 percent and 30 percent are part of California’s permanent supportive housing program, helping to serve unhoused individuals and those who may be prone to homelessness. The development will receive support from the California Department of Housing and Community Development, which awarded the project $6.4 million in funding under the California No Place Like Home Program. Additionally, the city and county of San Luis Obispo provided $1.1 million of funding. Transitions Mental Health of San Luis …

June 23, 2022

Development Georgia Mixed-Use Southeast

Toro Development to Redevelop Office Campus in Metro Atlanta for Mixed-Use Destination

by John Nelson June 23, 2022

JOHNS CREEK, GA. — Toro Development Co. plans to redevelop a former State Farm Insurance corporate campus in the northeast Atlanta suburb of Johns Creek to make way for a mixed-use destination. The project will be part of Johns Creek’s future 192-acre Town Center, which will feature a City Hall, housing, shops, restaurants, offices and parks. The newly launched Toro Development purchased 43 acres of the 54-acre site from a fund sponsored by U.S. Realty Advisors, a New York-based firm that has owned the campus since 2013. Situated at the intersection of Johns Creek Parkway and McGinnis Ferry Road, the site currently houses two mid-rise office buildings that once were leased to State Farm before moving to its regional headquarters in nearby Dunwoody. Toro Development, whose principal and chief vision officer Mark Toro oversaw the development of Avalon in Alpharetta and the redevelopment of Colony Square in Midtown Atlanta during his time with North American Properties, plans to redevelop the site with ground-level stores and restaurants set below housing. The campus will also include a high-end concierge program. In the coming months, Toro Development will meet with the community to learn about the types of experiences they are seeking at …

June 23, 2022

Development Midwest Missouri Office

McCarthy Tops Out Construction of 1 MSF Office Development in Suburban St. Louis

by Kristin Harlow June 23, 2022

CLAYTON, MO. — McCarthy Building Cos. has topped out construction of Forsyth Pointe, a nearly 1 million-square-foot office development in the St. Louis suburb of Clayton. US Capital Development is developing the two-building project, which will feature street-level retail space and views of the adjacent Shaw Park. Commerce Bank Tower will rise 10 stories and span 265,000 square feet. The other building will rise eight stories and total 210,000 square feet. The development will also feature 20,000 square feet of retail space and a seven-level parking garage accommodating 1,250 cars. Designed to achieve LEED Silver certification, the project will include a 45,000-square-foot garden terrace built over the parking structure. Additional amenities will include a 10,000-square-foot fitness center and a ground-floor arts and entertainment venue. A timeline for completion was not provided.

June 23, 2022

Development Multifamily Texas

Kalterra Capital Underway on 249-Unit Multifamily Project in San Marcos, Texas

by Taylor Williams June 22, 2022

SAN MARCOS, TEXAS — Kalterra Capital Partners is underway on construction of The Dylan, a 249-unit apartment community in the Central Texas city of San Marcos. The site is adjacent to McCarty Commons, which the Dallas-based developer sold in 2021. Units will come in one-, two- and three-bedroom floor plans and will be furnished with granite countertops, stainless steel appliances and private patios/balconies. Residences will range in size from 675 to 1,415 square feet. Amenities will include a pool, fitness center, volleyball court and open green space. Kalterra expects to deliver the property in the second quarter of 2023.

June 22, 2022

Development Multifamily New Jersey Northeast

Garden Communities Completes Lease-Up of 198-Unit Apartment Community in Basking Ridge, New Jersey

by Taylor Williams June 22, 2022

BASKING RIDGE, N.J. — Locally based developer Garden Communities has completed the lease-up of the initial phase of The Enclave at Dewy Meadows, a 198-unit apartment community in the Northern New Jersey community of Basking Ridge. Construction of the second phase is underway and expected to be complete by the end of the year. The Enclave at Dewy Meadows features one-, two- and three-bedroom units with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a leasing office, business center, fitness center, clubrooms with kitchen areas and a children’s playroom. Information on starting rents was not disclosed.

June 22, 2022

Development District of Columbia Loans Multifamily Southeast

MRP Realty, Barings Obtain $69.4M Construction Loan for Multifamily Development in D.C.

by John Nelson June 22, 2022

WASHINGTON, D.C. — A joint venture between MRP Realty and Barings has received a $69.4 million construction loan for Phase III of Washington Gateway, a mixed-use development in Washington, D.C.’s NoMa district. Eastdil Secured arranged the loan through Santander Bank. Located at 202 Florida Ave. NE, the third phase will comprise a 16-story high-rise called The 202 that features 254 apartment and 3,800 square feet of retail space. The property will include a mix of studio, one- and two-bedroom apartments with 10-foot ceilings, designer kitchens and high-end finishes. Amenities will include a rooftop clubroom, pet facilities, fitness center, shared workspaces and a direct connection to the Metropolitan Bike Trail. The previous phases of Washington Gateway included Elevation at Washington Gateway that delivered in 2014 and The Burton, which delivered in December 2021 and is currently in lease-up. MRP Realty and Barings plan to break ground on The 202 in August. Bozzuto Management will oversee the leasing and management of the property.

June 22, 2022

California Development Industrial Loans Western

JLL Arranges $210M Construction Loan for Ontario Ranch Business Park in Ontario, California

by Amy Works June 22, 2022

ONTARIO, CALIF. — JLL Capital Markets has arranged $210 million in construction financing for the development of the first phase of Ontario Ranch Business Park, a Class A industrial project currently under construction in Ontario. A joint venture between Newport Beach-based Real Estate Development Associates (REDA) and an industrial fund managed by Clarion Partners is building the asset. Once complete, Ontario Ranch Business Park will feature seven buildings totaling 1.7 million square feet with 30- to 40-foot clear heights, 287 loading positions and 775 parking stalls. The Home Depot hasp preleased the largest building, totaling 1.1 million square feet. Located at the intersection of Euclid and Eucalyptus avenues, the project offers direct access to Interstate 15, State Route 71 and California 60. Brian Top, Peter Thompson, Samuel Godfrey and Jordan Leake of JLL Capital Markets Debt Advisory team secured the three-year, floating-rate, interest-only, nonrecourse loan with a national bank for the borrower.

June 22, 2022

Development Florida Industrial Southeast

Miller Begins Construction on 400,000 SF Industrial Project in Tampa

by John Nelson June 21, 2022

TAMPA, FLA. — Miller Construction has broken ground on Tampa Commerce Center, an industrial park in Tampa whose first phase will comprise two speculative warehouses spanning approximately 400,000 square feet. Building 100 will have 32-foot clear heights and 52-foot column spacing with 146,188 square feet of storage and office space. The 252,250-square-foot Building 400 will have 36-foot clear heights with 52-foot columns. The developer, Houston-based Hines, plans to deliver the two single-story, tilt-wall buildings by the end of the year. The company also plans to develop two more logistics facilities in Phase II. Tampa Commerce Center is situated on 46 acres at 7918 Harney Road, near the intersection of I-4 and I-75. The project team includes Randall-Paulson Architects, Hibbard Engineering, Clear Engineering, Pinnacle Structural Engineers and civil engineer Genesis Halff.

June 21, 2022

Newer Posts

Older Posts