development1

OHT Partners Breaks Ground on 750-Unit Multifamily Development in South Austin

by Taylor Williams June 21, 2022

AUSTIN, TEXAS — Locally based developer OHT Partners has broken ground on Phase I of a 750-unit multifamily development in South Austin. The first phase of the development, which will be branded Lenox Woods, will total 402 units and is scheduled for a late 2023 completion. The second phase, which will comprise 348 units in a yet-to-be-named community, is slated to be delivered in 2024. The site spans 37 acres and includes a 7.5-acre parcel that will function as parkland. Lenox Woods will feature one- and two-bedroom units and amenities such as two pools, a fitness center, dog park, pickleball courts and a business center. Meeks + Partners is designing the community.

June 21, 2022

Development Illinois Industrial Midwest

Molto Properties to Build Two Logistics Parks Totaling 2 MSF in Suburban Chicago

by Kristin Harlow June 21, 2022

MINOOKA AND ROMEOVILLE, ILL. — Molto Properties has unveiled plans to build two logistics parks totaling more than 2 million square feet in Minooka and Romeoville. Construction is scheduled to begin this month, with completion of both projects slated for the second quarter of 2023. Jim Estus and Matthew Stauber of Colliers will market the developments for lease. Minooka Ridge Business Park will span 110 acres and accommodate up to 1.7 million square feet of new distribution space. Phase I will consist of a 1.1 million-square-foot distribution facility featuring a clear height of 40 feet, 156 truck docks and parking for 264 trailers and 541 cars. Weber55 Logistics Park will be a two-building logistics park situated on 60 acres in Romeoville. Building I will span 627,840 square feet and feature a clear height of 40 feet, 114 exterior truck docks, 128 trailer stalls and 376 car parking spaces. Building II will total 270,000 square feet and feature a clear height of 36 feet, 56 exterior truck docks, 72 trailer stalls and parking for 258 cars.

June 21, 2022

Arsenal-Trade-Center-Sayreville-New-Jersey

Development Industrial New Jersey Northeast

Joint Venture to Develop 1 MSF Industrial Project in Sayreville, New Jersey

by Taylor Williams June 21, 2022

SAYREVILLE, N.J. — A joint venture between Trammell Crow Co. (TCC) and CBRE Investment Management will develop Arsenal Trade Center, a roughly 1 million-square-foot industrial project in the Central New Jersey community of Sayreville. The site spans 74 acres and is located four miles from the New Jersey Turnpike. Arsenal Trade Center will consist of three rear-load buildings spanning 284,341, 341,833 and 451,602 square feet. Each building will feature clear heights of 40 feet and ample car and trailer parking. KSS Architects is designing the project, and RC Anderson is the general contractor. Construction is slated to begin later this summer and to be complete in late 2023.

June 21, 2022

Development Loans Multifamily Texas

Fifth Third Bank, Pearlmark Provide Construction Financing for 336-Unit Dallas Apartment Community

by Taylor Williams June 20, 2022

DALLAS — Fifth Third Bank and Chicago-based Pearlmark have provided construction financing for Resia National Dallas, a 336-unit apartment community that will be located in the North Oak Cliff/West Dallas submarket. The property will feature one-, two- and three-bedroom units, including 17 affordable housing residences. Amenities will include a pool, fitness center and a business center. Fifth Third Bank provided a senior loan of an undisclosed amount, and Pealmark originated the $11.1 million junior loan. The borrower was Miami-based Resia, formerly known as AHS Residential. Completion is slated for the third quarter of 2023.

June 20, 2022

Development Multifamily Texas

HighPark Capital Underway on 288-Unit Multifamily Project in Melissa, Texas

by Taylor Williams June 20, 2022

MELISSA, TEXAS — Dallas-based HighPark Capital is underway on construction of Farmhouse 121, a 288-unit multifamily project located north of Dallas in Melissa. Farmhouse 121 will offer one- and two-bedroom units and amenities such as a pool, fitness center, a resident lounge with coworking areas and a dog park. Completion is slated for the first quarter of 2023. Project partners include construction lender Third Coast Bank, general contractor Brownstone Construction and designer Cross Architects.

June 20, 2022

Development Florida Hospitality Mixed-Use Multifamily Southeast

Okan Group Breaks Ground on 70-Story Mixed-Use Tower in Downtown Miami

by John Nelson June 20, 2022

MIAMI — Okan Group has broken ground on a 70-story mixed-use tower located at 555 N. Miami Ave. in downtown Miami, the first U.S. project for the Turkish developer. Named Okan Tower, the waterfront project will comprise the 316-room Hilton Miami Bayfront Hotel; 163 condominiums with “owners-only” amenities, including an upscale fitness studio, spa, children’s play area, movie theater, wine cellar and lounge; 236 short-term rental residences that Hilton Hotels & Resorts will operate; and 64,000 square feet of office space. Shared amenities will include a 24-hour reception and concierge; 70th-floor rooftop pool and sky deck with private cabanas; 12th-floor lap pool with clubroom; and indoor and outdoor lounges. Designed by Behar Font & Partners, Okan Tower is set to be one of Miami’s tallest towers at 902 feet once complete in 2026.

June 20, 2022

Development Industrial New Jersey Northeast

Crow Holdings Breaks Ground on 1.2 MSF Spec Industrial Complex in Northern New Jersey

by Taylor Williams June 20, 2022

CARTERET, N.J. — Crow Holdings has broken ground on a 1.2 million-square-foot speculative industrial project in Northern New Jersey. Carteret Crow Holdings will be located on a 126-acre site just off Exit 12 of the New Jersey Turnpike and will consist of three buildings ranging in size from 335,000 to 480,000 square feet. Building features will include clear heights of 40 feet and a total of 179 car parking spaces, 174 dock doors and six drive-in ramps. Crow Holdings expects to deliver the first building in September, with full completion slated for the first quarter of 2023. Cushman & Wakefield is marketing the development for lease.

June 20, 2022

Development Georgia Mixed-Use Southeast

Green Brick to Build $400M Mixed-Use Campus in Cumming, Georgia

by John Nelson June 17, 2022

CUMMING, GA. — Green Brick Partners Inc., a homebuilding and land development firm, has purchased 152 acres in the Atlanta suburb of Cumming. The Plano, Texas-based company plans to develop a mixed-use campus valued at $400 million at the site named Sawnee Village. The development will include 474 detached and attached homes built by Atlanta-based Providence Group, as well as more than 250 apartments, 220,000 square feet of seniors housing and office and retail space spanning 106,000 square feet. The master-planned campus will be situated near Ga. Highway 400 and Lake Lanier, as well as close to the New Cumming City Center, Avalon, Halcyon and Northside Forsyth Hospital. Nelson Architecture is designing Sawnee Village, and Providence Group is managing the overall development. Green Brick, which owns a controlling interest in Providence Group, plans to break ground on Sawnee Village this summer.

June 17, 2022

Development New Jersey Northeast Office

Columbia Property Trust Completes Redevelopment of 680,000 SF Office Building in Jersey City

by Taylor Williams June 17, 2022

JERSEY CITY, N.J. — Columbia Property Trust has completed the redevelopment of 95 Columbus, a 680,000-square-foot office building in Jersey City. The project centered on the revamping of the lobby to allow more natural light and provide more efficient seating and meeting areas. Columbia Property Trust also augmented the landscaping at the building’s entrance and upgraded the lobby’s windows and flooring, among other features. The developer also modernized various building systems to promote health and wellness, including the installation of touchless doors, bipolar ionization air filtration and destination dispatch elevators. Lastly, Columbia added a bike storage room, additional shower facilities and a 500-space attached garage. Cushman & Wakefield is leasing the building post-renovation.

June 17, 2022

Development Life Sciences Massachusetts Northeast

Hobbs Brook Delivers 507,000 SF Office, Life Sciences Project in Metro Boston

by Taylor Williams June 17, 2022

WALTHAM, MASS. — Hobbs Brook Real Estate has delivered 225 Wyman, a 507,000-square-foot office and life sciences project located in the western Boston suburb of Waltham. The five-story building sits on a six-acre site and features 43,500 square feet of indoor amenity space, as well as outdoor event space. In addition, 225 Wyman offers an onsite parking garage with a covered walkway connector. The property was 96 percent leased at the time of its opening to tenants such as Seqirus, ElevateBio BaseCamp and Pegasystems.

June 17, 2022

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