OCEANSIDE, CALIF. — LPC West, in partnership with an affiliate of Cerberus Capital Management, has acquired a nearly 30-acre development site in Oceanside. Terms of the acquisition were not released. The partnership plans to develop a modern industrial campus on the site, which is located within Ocean Ranch, a 400-acre office and industrial development. “Together with Cerberus, we plan to build highly efficient industrial buildings that will meet the needs of tenants looking for quality industrial space in the San Diego region,” says Scott Moffatt, senior vice president of LPC West’s San Diego office. Ocean Ranch is situated near the Interstate 5 Freeway between Highways 76 and 78, offering easy access to many Southern California regions, including Los Angeles, Riverside, Orange County and San Diego. “With Oceanside’s strategic location, the area has become an attractive region in Southern California for leading companies,” says Tom Wagner, head of North American Real Estate at Cerberus. “This is a great opportunity to develop a best-in-class industrial campus in Oceanside.” LPC West currently owns and manages nearly 1.5 million square feet of commercial property in the San Diego region with an additional 450,000 square feet currently under development.
DALLAS — Developer Todd Interests is nearing completion of the redevelopment of the former First National Bank Tower in downtown Dallas, a project that will add 219 hotel rooms under Hyatt’s Thompson brand to the local supply. The new hotel will feature two rooftop restaurant and bar concepts, a pool, fitness center, spa and pet parks, as well as 22,000 square feet of meeting and event space. The hotel is slated to open in November.
TOPEKA, KAN. — GO Topeka has unveiled plans to build a large-scale animal health innovation campus in Topeka. The economic development group has selected Clark Enersen Partners and BioRealty Inc. to begin identifying and evaluating prospective locations. The developers, which both have expertise building scientific research parks, will present initial findings this winter. The development will be home to Plug and Play’s animal health program as well as research and development labs and offices for startups and partners. Topeka is centrally located within the KC Animal Health Corridor, which is home to more than 300 animal health companies.
SURPRISE, ARIZ. — Orion Investment Real Estate, along with Property Dimensions Real Estate Group, has arranged the sale of an 18.5-acre commercial land site located at the northwest corner of Litchfield and Cactus roads in Surprise. Veramonte Land Holdings sold the parcel to Terry B. Brodkin & Associates, as 18.5 Litchfield & Cactus LLC, for $2.2 million. The buyer is working with LGE to develop high-quality flex space at the back of the property, while frontage is being sold off as retail pads. Judi Butterworth of Orion and Cathy Cheshier of Property Dimensions represented the seller in the transaction.
ATLANTA — Alliance Residential will develop Broadstone Upper Westside, a 314-unit apartment complex in Atlanta’s Upper Westside neighborhood. The complex will offer studio, one- and two-bedroom floor plans. Communal amenities will include a community kitchen, clubroom, fitness center, courtyard and a saltwater pool. The Phoenix-based developer closed on the 12-acre site in late June and expects to break ground this year. Alliance plans to open the community in fall 2021. Located at 2167 Bolton Drive NW, the asset is situated seven miles northwest of downtown Atlanta adjacent to the city’s West Midtown district. Dynamik Design is the architect of Broadstone Upper Westside.
VANCOUVER, WASH. — EJF Capital and Holland Partner Group (HPG) are developing Block 10, a mixed-use property located in downtown Vancouver. Situated on a one-acre opportunity zone, the project will feature 110 apartments, 79,000 gross square feet of office space on top of a podium deck with roughly 10,100 square feet of retail space and 113 parking spaces. Twenty percent of the multifamily units will be set aside as workforce housing. Building amenities, which will be shared between office users and residents, will include a fitness center, co-working space, bike room and amenity deck on the third level. Holland Construction, HGP’s construction division, expects to break ground this month, with completion slated for spring 2022. Bank of the West is providing construction financing for the development.
WILBERFORCE, OHIO — Central State University has received a $500,000 grant from the U.S. Department of the Interior for the conversion of the university’s historic campus power plant into a student career services facility. The grant agreement will fund a portion of the planned $3 million project. The new center will be named the Frank Murphy Student Success Center. The project will provide classrooms, meeting spaces and technology to support academic programs and events. The federal grant is part of $7.7 million in grants given to 18 projects in 12 states for the preservation of historic structures on campuses of historically black colleges and universities. It is administered by the National Park Service. Central State University is located in Wilberforce, which is between Columbus and Cincinnati.
ATLANTA — Brookfield Properties Retail Group has submitted initial plans for the redevelopment of the eastern portion of Cumberland Mall, a 1 million-square-foot regional mall in northern Atlanta’s Cumberland-Galleria submarket. Cobb County submitted the proposal on behalf of the Chicago-based developer to the Georgia Regional Transportation Authority (GRTA) to review as a Development of Regional Impact (DRI), which is a distinction for projects that have outsized impact on civic functions such as schools and traffic. Brookfield hopes to reshape the mall into a town center with 445,000 square feet of office space, 312 multifamily residences, 31,200 square feet of retail and restaurant space and 10 bus bays. Additionally, What Now Atlanta reported that Cobb County recently issued permits for a new Round 1 Bowling & Amusement attraction to begin construction for a new 80,000-square-foot venue at the former Sears, which closed in 2018. The initial action that Brookfield is proposing for Cumberland Mall is for the 14-acre site at 2940 Cobb Parkway to be rezoned as mixed-use. According to the filing with the GRTA, the developer hopes to complete the phased redevelopment in 2025. The Cumberland-Galleria submarket has been transformed in the past four years with the addition of the …
POOLER, GA. — McShane Construction Co. has delivered Parc at Pooler, a 280-unit apartment community located at 2200 Old Quacco Road in the Savannah suburb of Pooler. The property is situated on 21 acres and features 19,000 square feet of amenities, including a pool, sundeck, outdoor kitchen, car care center and a dog park. Indoor amenities include a clubhouse with a fitness center, coffee bar, café and a resident’s lounge. Units include granite countertops, sunrooms or balconies, stainless steel appliances, wood cabinetry and wood-finished flooring. The design team includes developer Equity Resources LLC and architect Dynamik Design. McShane also handled the site work for the project, including eight standalone garages, landscape and parking lots.
DEKALB, ILL. — Facebook has unveiled plans to build an $800 million data center in DeKalb. The social media giant’s data center will occupy 505 acres of the 1,000-acre ChicagoWest Business Center, which is owned by Krusinski Construction Co. The project is expected to rely solely on renewable energy and create about 100 jobs. This will be the first data center for Facebook in Illinois, but the company has 15 data centers globally. DeKalb is approximately 65 miles west of Chicago. Krusinski began assembling land for ChicagoWest 14 years ago.