COUNCIL BLUFFS, IOWA — National healthcare real estate developer NexCore Group has broken ground on a 23,000-square-foot, build-to-suit medical office building for OrthoNebraska in Council Bluffs near Omaha. The orthopedic specialty clinic is located at 1260 Valley View Drive near I-80. NexCore will own the project in a joint venture with real estate investment management firm Harrison Street. OrthoNebraska will be the sole tenant. The project team includes general contractor McCarthy Building Cos. and architecture firm Leo A. Daly. Completion is slated for the second quarter of 2022.
ONTARIO, CALIF. — Wood Investments Cos. has purchased a 19.6-acre development site within the master-planned community of Ontario Ranch in Ontario. San Diego-based GDC RCCD 2 LP sold the asset for $18.5 million. Wood Investments plans to develop The Ranch at Model Colony Shopping Center, a 206,072-square-foot retail property, at the site. The asset will be located at the intersection of Ontario Ranch Road and Hamner Avenue. Already signed tenants include include a national grocery tenants, Burlington Coat Factory, Five Below, Hobby Lobby and Planet Fitness. Brian McDonald and Walter Pagel of CBRE represented Wood Investments in the purchase and lease transactions. CBRE also represented the seller in the deal.
ATLANTA AND DALLAS — Atlanta-based PulteGroup Inc. and Dallas-based Invitation Homes have formed a joint venture to build and lease new single-family rental homes. PulteGroup expects to design and build approximately 7,500 new homes over the next five years specifically for sale to Invitation Homes for inclusion in its single-family rental leasing portfolio. The companies have already agreed on the construction and sale of over 1,000 homes across seven communities over the next several years, with the first sales expected to close in 2022. Initial projects are scheduled for delivery in growth markets such as Florida, Georgia, Southern California, North Carolina and Texas. PulteGroup Inc. is a homebuilding company with operations in more than 40 markets throughout the country. Invitation Homes is a single-family home leasing and management company.
NEW YORK CITY — Locally based developer Lightstone Group has received $130 million in construction financing for Lightstone Moxy, a 303-room hotel that will be located on Manhattan’s Lower East Side. MSD Partners LP, an affiliate of the private investment firm of tech magnate Michael Dell, provided a $90 million senior loan for the 16-story project. Lionheart Strategic Management LLC, an affiliate of Fisher Brothers, provided a $40 million mezzanine loan. Tao Hospitality Group will manage the hotel, which will feature multiple food and beverage concepts. Drew Anderman and Benjamin Nevid of Meridian Capital Group arranged the financing.
ROMULUS, MICH. — Ford Motor Co. has selected Romulus, a southwest suburb of Detroit and home of the Detroit Metropolitan Wayne County Airport, as the location of its new global battery center named Ford Ion Park. The $100 million project will help accelerate research and development of battery and battery cell technology. Ford Ion Park is part of Ford’s $185 million investment in developing, testing and building vehicle battery cells and cell arrays. Ford will refurbish an existing 270,000-square-foot facility to house up to 200 engineers.
WASHINGTON, D.C. — Office Properties Income Trust has broken ground on a redevelopment of a Class B office building located at 20 Massachusetts Ave. NW in Washington, D.C. The project will expand and reimagine the seven-story, 340,119-square-foot building to a 10-story, 427,000-square-foot property. The project, named 20 Mass, is expected to be completed in early 2023 and is predicted to cost approximately $200 million. Designed by Leo A. Daily Architects, 20 Mass will include 184,000 square feet of Class A office space on the top four floors with 45,000-square-foot floor plates, 14,000 square feet of retail space, a 271-room Royal Sonesta Hotel and a fitness club. Property amenities will include a vegetated green roof and a conference center. 20 Mass will feature touchless systems and will have WELL and LEED certifications. Located in D.C.’s Capitol Hill neighborhood, 20 Mass is adjacent to Union Station, a regional transit hub, and Capital One Arena, home stadium of the Washington Wizards basketball club and Washington Capitals ice hockey team. The property is also close to neighborhoods such as Chinatown, Penn Quarter and the Mount Vernon Triangle. Office Properties Income Trust is a REIT managed by the operating subsidiary of The RMR Group Inc., …
BROOMFIELD, COLO. — A joint venture between Titan Development and Pivot Development has unveiled plans for The Lock at Flatirons, an apartment property located in the Interlocken Technology Park in Broomfield. Situated on 3.3 acres, The Lock at Flatirons will feature 254 apartments, a fitness center, resort-style pool, bike storage and stations, secure access parking, technology packages throughout the property and co-working space. Construction is slated to begin in third-quarter 2021, with completion planned within approximately 28 months.
LAS VEGAS — Harsch Investment Properties has broken ground on Sunset Airport Center II, a four-building industrial complex in Las Vegas’ airport submarket. Slated for completion in summer 2022, Sunset Airport Center II will be an addition to the 269,853-square-foot Sunset Airport Center property that Harsch purchased in 2016. Located on Sunset and Pecos roads, Buildings A and B combined will total 185,000 square feet and offer up to 19 tenant spaces that range from 6,000 square feet to 16,000 square feet. Each space features both dock-high and grade-level loading. The buildings range from 26-foot to 30-foot minimum warehouse clear heights, 160-foot minimum truck court, ESFR sprinklers and Sunset Road frontage. The project team includes R&O Construction, VLMK Engineering + Design and VTN Consulting Engineers. MDL’s Jarrad Katz and Galit Kimerling-Moreau are overseeing leasing of the property.
WATERVILLE, MAINE — General contractor Consigli Construction Co. has completed the Harold Alfond Athletics and Recreation Center, a 350,000-square-foot facility at Colby College, a private liberal arts college in Waterville, Maine. The facility features a 200-meter track, tennis courts, an ice arena, Olympic-sized pool, competition gym for basketball and volleyball, squash courts, a strength and fitness center, multi-purpose studios, locker rooms, sports medicine facilities and offices. Sasaki and Hopkins Architects led the design of the project.
SILVER SPRING, MD. — Washington Property Co. (WPC) has topped out Solaire 8200 Dixon, a 403-unit apartment tower in the Ripley District in downtown Silver Spring. The general contractor, Clark Construction Co., is slated to deliver the first apartments in mid-2022. Architectural firm Design Collective designed the property. At 26 stories, Solaire 8200 Dixon will be Silver Spring’s tallest building, according to WPC. The property will feature the area’s first food hall and city market, which will be open to the public. Community amenities will include a rooftop fitness center, pool and sky lounge, as well as a club room with coworking facilities, catering kitchen, 24-hour concierge and package services, pet spa and two guest suites for residents’ use. About 75 percent of the apartments will be one-bedroom and the remainder will have two bedrooms. Solaire 8200 Dixon will be located on the former site of Progress Place, which was home to the nonprofit organization Shepherd’s Table. Through a public-private partnership with Montgomery County, WPC developed a new Progress Place building offsite at 8106 Georgia Ave. in Silver Spring. The new facility houses Shepherd’s Table and two other nonprofits, Interfaith Works and Mobile Med. WPC is a commercial real estate …