development2

Stratus Development Breaks Ground on 286-Bed Student Housing Community Near University of Georgia

by John Nelson November 19, 2019

ATHENS, GA. — Stratus Development Group has broken ground on The Haven of Athens, a 286-bed student housing community located one-and-a-half miles from the University of Georgia’s main campus in Athens. The development will offer two-, three-, four-, five- and six-bedroom, cottage- and townhome-style units with bed-to-bath parity. Shared amenities will include a resort-style swimming pool, study rooms, a fitness center, dog park, hammock park, fire pit and covered parking. The development is scheduled for completion in fall 2020.

November 19, 2019

Development Multifamily New Jersey Northeast Retail

Paramount Breaks Ground on 70-Unit Multifamily, Retail Project in Plainfield, New Jersey

by Alex Patton November 19, 2019

PLAINFIELD, N.J. — Paramount Assets is underway on Netherwood Flats, a 70-unit multifamily project that will include 4,000 square feet of ground-floor retail space in Plainfield, located approximately 25 miles west of New York City. The building will offer one- and two-bedroom apartments and close access to Netherwood transit station. Construction is slated for completion in spring 2021.

November 19, 2019

Development Hospitality Massachusetts Northeast

Olshan Properties-Led Partnership Underway on $125M Canopy by Hilton Hotel in Boston

by Taylor Williams November 18, 2019

BOSTON — A partnership between Olshan Properties, CV Properties and Harbinger Development is underway on construction of a 212-room Canopy by Hilton hotel in downtown Boston. The $125 million hotel will be located across from the Rose Fitzgerald Kennedy Greenway parks near the city’s Haymarket and North End Districts and will add 12,711 square feet of ground-floor retail and restaurant space to the local supply. Olshan Properties will manage the hotel, which is slated for delivery by mid-2021.

November 18, 2019

Development Industrial Midwest Wisconsin

Kroger, Ocado Select Pleasant Prairie, Wisconsin for Sixth Customer Fulfillment Center

by Kristin Harlow November 18, 2019

PLEASANT PRAIRIE, WIS. — The Kroger Co. and online grocery retailer Ocado have selected Pleasant Prairie for their sixth customer fulfillment center. The facility will span 350,000 square feet and is expected to create up to 400 new jobs. The project is slated to take two years to construct. The facility will serve customers in Wisconsin, northern Illinois and northwest Indiana. In June, Kroger broke ground on its first customer fulfillment center in Monroe, Ohio, and has since announced additional locations in Florida, Georgia, Texas and the Mid-Atlantic region.

November 18, 2019

Development Industrial Nevada Western

Plumbing Manufacturer Opens 148,000 SF Distribution Center in North Las Vegas

by Amy Works November 18, 2019

NORTH LAS VEGAS — Oatey Co., a plumbing manufacturer since 1916, has opened a new distribution center in North Las Vegas. The 148,000-square-foot facility features high efficiency LED lighting and HVLS fans, and meets LEED Silver requirements. The distribution center will stock thousands of residential and commercial plumbing products across the company’s 23 categories and sold under the Oatey family of brands. The new facility will further enhance Oatey’s ability to service its customers in the West.

November 18, 2019

Development Multifamily New York Northeast

NKF Arranges $44 Million Acquisition Loan for Development Site in Manhattan

by Alex Patton November 15, 2019

NEW YORK CITY — Newmark Knight Frank (NKF) has arranged a $44 million acquisition loan for 4650 Broadway, a 47,350-square-foot development site located in the Inwood neighborhood of Manhattan. SCALE Lending, the lending arm of Slate Property Group, provided the floating-rate loan to Arden Group Inc. The borrower plans to use the loan to acquire the site and develop a 300,000-square-foot multifamily building with retail space. Dustin Stolly and Jordan Roeschlaub led the NKF team that secured the loan.

November 15, 2019

Development Hospitality Texas

JMJ Development to Build 176-Room Mandarin Oriental Hotel in Dallas’ Turtle Creek District

by Taylor Williams November 15, 2019

DALLAS — Locally based firm JMJ Development will build a 176-room Mandarin Oriental hotel in Dallas’ Turtle Creek neighborhood. The 25-story building will also house 100 residential units and feature a spa and an undetermined amount of ballroom and meeting space. A construction start date was not announced, but the hotel is expected to open in 2022.

November 15, 2019

Development Industrial Midwest Ohio

Opus Breaks Ground on Two-Building Speculative Industrial Development Near Columbus

by Kristin Harlow November 15, 2019

CANAL WINCHESTER, OHIO — The Opus Group (Opus) has broken ground on Winchester Logistics Park, a two-building speculative industrial development in Canal Winchester, Ohio, near Columbus. Construction on a mid-size, 258,000-square-foot and a larger, 556,000-square-foot cross-dock building is scheduled for completion in the summer of 2020. Near U.S. Highway 33, the I-270 beltway and I-70, Winchester Logistics Park will contain build-to-suit office space, 32 to 36-foot clear heights, LED lighting and auto and trailer parking, intended for industrial users. Opus is the developer, design-builder, architect and engineer of record. The development is a joint venture with New York-based AIG Global Real Estate, the real estate equity investment arm of insurer American International Group Inc. (AIG). First National Bank of Omaha provided financing for the project. Brian Marsh and Dan Wendorf of JLL will market the project for lease.

November 15, 2019

Development Healthcare Iowa Midwest

R&R Realty to Build 13,867 SF Health Clinic for UnityPoint in Urbandale, Iowa

by Kristin Harlow November 15, 2019

URBANDALE, IOWA — R&R Realty Group (R&R) will develop a 13,867-square-foot, build-to-suit health clinic for UnityPoint Clinic in its Center Pointe business Park in Urbandale. Slated to open in fall 2020, the clinic will offer urgent care, a sports medicine and concussion center along with physical therapy services. Located at the junction of 100th Street and I-80/35 in Urbandale’s Urban Loop, Center Pointe Business Park will contain more than 1 million square feet of office and retail space once completed. UnityPoint is a West Des Moines-based health system.

November 15, 2019

Development Hospitality New York Northeast

Local Developer Underway on 240-Room Staybridge Suites Hotel in Long Island City

by Taylor Williams November 14, 2019

LONG ISLAND CITY, N.Y. — New York-based real estate developer Teddy Li is underway on construction of a 240-room Staybridge Suites hotel in Long Island City. The project, located at 38-61 11th Ave., will encompass approximately 180,000 square feet, rise 24 stories and feature a community facility and 109 parking spaces. Gary Sefcik, Iona Liu, Dan Lisser and Rick Lechtman of Marcus & Millichap arranged a $46 million construction loan from a private lender for the project. Construction is slated for completion in June 2020.

November 14, 2019

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