EASTVALE, CALIF. — Rexford Industrial Realty has purchased a 15.5-acre, fully entitled development site in Eastvale, within the Inland Empire West submarket, for $18.2 million, or $26.93 per land square foot. Rexford has retained the undisclosed seller as fee developer to construct the project, branded as “The Merge,” which will contain a total of 333,500 square feet of industrial space within six buildings. Once completed, the project will feature 10 warehouse spaces, ranging from 20,000 square feet to 45,000 square feet, offering 30- to 32-foot clear heights, ESFR fire sprinklers and market-leading dock-high loading capacity. Delivery is slated for the third quarter of 2020, after incurring incremental all-in development and construction costs of approximately $37 million.
BREA, CALIF. — Silverado plans to open Silverado Brea, located approximately 20 miles southeast of Los Angeles, by the end of summer 2019. The nearly 34,000-square-foot, two-story community joins nearby Silverado communities in Tustin, Costa Mesa and San Juan Capistrano. The number of units in the community was not disclosed. The $12 million development sits on 1.15 acres.
SOUTHLAKE, TEXAS — RREAF Holdings LLC has broken ground on Phase I of a 16-acre mixed-use project in Southlake, a northern suburb of Fort Worth. A 239-room hotel will anchor the property, which could ultimately feature as much as 240,000 square feet of office, retail and restaurant space. Completion of the hotel is scheduled for fall 2020. The project team includes general contractor Hill & Wilkinson, architect Merriman Anderson Architects, civil engineer Cole Engineering, mortgage banker Staghorn Capital Partners and construction lenders Bancorp South and Mosaic Real Estate Investors.
SEATTLE — Wood Partners has broken ground on Alta Columbia City, a multifamily development in Seattle’s historic Columbia City neighborhood. Slated to open in summer 2021, Alta Columbia City will feature 243 studio, one- and two-bedroom apartments, along with 27,000 square feet of retail and commercial space. On-site amenities will include a private lounge, entertainment area, gourmet kitchen, fitness center, co-working space, outdoor courtyard, heated greenhouse, rooftop deck and dog run. Once completed, the property will be Wood Partners’ third multifamily community in the Seattle area.
SANTA MARIA, CALIF. — JLL Capital Markets has secured a $35 million loan to facilitate the refinancing and completion of Refugio Apartments, a 125-unit rental townhome community in Santa Maria. Annaly Capital Management provided the loan to the borrower, Dynamic Development Co. Situated on seven acres at 270 W. McCoy Lane, Refugio Apartments comprises seven stucco buildings with 125 luxury townhomes rentals. The two- and three-story units offer three bedrooms, at least 2.5 bathrooms, balconies, attached two-car garages and private backyards in select units. Community amenities include a 3,000-square-foot recreational center with a resort-style swimming pool, year-round spa, barbecue area, business center and resident clubhouse with built-in fitness center. Residents already have taken occupancy in completed portions of Refugio Apartments, with final completion scheduled for June 2019. Aaron Niedermayer, Reid McGlamery, Brian Buglione and Brandon Krupetsky of JLL arranged the financing.
DENVER — A joint venture between Evergreen Devco and City Street Investors has broken ground on The Shops at Beeler Park, located at the northwest corner of 56th Avenue and Central Park Boulevard in Denver’s Stapleton neighborhood. Situated on 6.8 acres, The Shops at Beeler Park will feature two multi-tenant buildings and five single-tenant buildings offering a total of 16,500 square feet of retail space. Completion is slated for November. The project team includes Farnsworth Group as architect and Waner Construction Co. as contractor. Evergreen has already sold two pads to Hello Car Wash and Stapleton Endodontics, and plans to sell or lease the remaining portion of the project to other neighborhood service and restaurant pad users. Allen Lampert and Steve Markey of David, Hicks & Lambert Brokerage, along with Pat McHenry of City Street Investors, are handling the leasing for the property.
PHILADELPHIA — Locally based firm Estia Group will develop a 14-story Blu Ivy hotel at 122 S. 11th St. in Philadelphia. The 86-room property will house Anthos, a two-story restaurant that offers Mediterranean and Greek cuisine. Both the hotel and the restaurant, which will offer bar seating for 23 guests and floor seating for 198 patrons, are scheduled to be complete in fall 2020. The development team includes designer DAS Architects and structural engineer O’Donnell & Naccarato.
VICTORVILLE, CALIF. — Stirling Capital Investments has completed a building expansion for Newell Brands at Southern California Logistics Airport (SCLA) in Victorville. This is Newell’s second expansion at the property since it original lease for 407,600 square feet in 2006, bringing the new building total size to 1 million square feet. With the new 466,255-square-foot expansion, the building now features 78 dock-high doors with 32-foot clear heights. Newell first expanded its footprint at SCLA in 2012 by adding 176,800 square feet to accommodate increased regional and national distribution of company products. Newell will occupy the new building through 2029.
SAN DIEGO — Dempsey Construction has completed the ground-up construction of an industrial building at Frontera Business Park, located at 2695 Customhouse Court in the Otay Mesa neighborhood of San Diego. The concrete tilt-up building totals 174,200 square feet of space. Three main storefront entries feature spandrel glass and pop-out elevations. Situated on 9.2 acres, the facility has 43 dock-high truck doors, a 36-foot clear height and six grade-level truck doors. The building is part of Frontera Business Park, a seven-building, 517,207-square-foot industrial campus.
GRANITE BAY, CALIF. — WellQuest Living has broken ground on WellQuest of Granite Bay, a seniors housing community in Granite Bay, approximately 25 miles northeast of Sacramento. Once complete, the property will offer independent living, assisted living and memory care. The project is set for completion in summer 2020. WellQuest will have over 1,000 senior living apartments in operation or under construction by the end of 2019 throughout California and Nevada. The Salt Lake City-based company currently has three communities opened.