development2

Holder Properties Underway on 120,000 SF Office Building Near Charleston

by Camren Skelton September 10, 2018

MT. PLEASANT, S.C. — Holder Properties is underway on Portside, a 120,000-square-foot office building located within Ferry Wharf, a master-planned development in Mt. Pleasant that includes office, retail, hospitality and residential projects. The development is located at the foot of the Arthur Ravenel Jr. Bridge along the Charleston Harbor. Holder Properties broke ground on Portside in March. The five-story building is approximately 45 percent preleased, including a recently executed lease with Serendipity Labs Coworking. Portside will share a parking deck with a new hotel under construction at Ferry Wharf. The office building will be available for occupancy in spring 2019. McMilan Pazdan Smith Architecture is designing the building, and Freese Johnson is the general contractor.

September 10, 2018

Development Florida Mixed-Use Retail Southeast

Tavistock to Build Entertainment Venue Within Orlando’s Lake Nona Using Shipping Containers

by Camren Skelton September 10, 2018

ORLANDO, FLA. — Tavistock Development Co. has unveiled plans for Boxi Park at Lake Nona, an outdoor entertainment venue located within Lake Nona Town Center, a 100-acre mixed-use development that anchors the master-designed Lake Nona community in Orlando. The 30,000-square-foot venue will be built using repurposed shipping containers, and will feature a mix of restaurants and bars, beach volleyball courts, a fenced dog park, playground and a live entertainment venue. The park will be built using 12 containers arranged in one- and two-story configurations. The structure allows the containers to be moved as Lake Nona Town Center expands. Boxi Park is scheduled to open in December.

September 10, 2018

Development Industrial New Hampshire Northeast

General Properties Breaks Ground on Three-Building Flex Complex in New Hampshire

by David Cohen September 7, 2018

FRANKLIN, N.H. — General Properties has broken ground on Mercantile Place, a three-building flex complex in Franklin. Located on the Pemigewasset River, the property will incorporate a mix of office and industrial tenants. The tenant roster will include FBG Tank Services, a branch of First Business Group; Sustainable Refining, a formulator of vehicle undercoating products; Poly Lining Systems Inc.; Online Motor Deals LLC and a vehicle service maintenance center. GP Property Management, a division of General Properties LLC, will manage the complex.

September 7, 2018

Arizona Development Healthcare Western

Mayo Clinic to Double Size of Phoenix Campus with $648M Project

by Amy Works September 7, 2018

PHOENIX — Mayo Clinic has announced plans to double the size of its Phoenix medical campus with a $648 million expansion over the next five years. Dubbed the Arizona Forward Project, the plan will add 1.4 million square feet of building space to the existing 1.7 million square feet, with expanded clinical capacity, support services and infrastructure near Loop 101 and 56th Street in North Phoenix. Highlights of the expansion include a six-story patient tower; three-floor addition to the existing four-story Mayo Clinic Building; three-story building to house an expanded Emergency Department, Laboratory Medicine, Radiology and Pharmacy departments; 1,000-space underground patient parking garage; 1,600-space multi-level staff parking garage; and new infrastructure space. New patient areas are projected to open as early as June 2020, with the final phase opening in April 2023. The expansion plan increases the number of inpatient beds from 280 to 374 by 2023 and creates close to 2,000 new jobs, including nearly 200 physicians by 2029.

September 7, 2018

California Development Multifamily Western

CIM Group Delivers 525-Unit Apartment Tower in Downtown Los Angeles

by Amy Works September 7, 2018

LOS ANGELES — CIM Group has completed the construction of 888 at Grand Hope Park, a 34-story apartment tower located at 888 S. Hope St. in downtown Los Angeles. The property features 525 apartment units, 6,000 square feet of ground-floor retail space and a public park. Additionally, the apartment tower features a 30,000-square-foot rooftop deck with thousands of plants and more than 132 trees; an indoor lounge; and a large outdoor terrace. The tower is adjacent to a seven-story, 650-stall parking structure and a 5,000-square-foot Petco.

September 7, 2018

California Development Office Western

Amazon Opens 85,000 SF Office Expansion in San Diego

by Amy Works September 7, 2018

SAN DIEGO — Amazon has opened an 85,000-square-foot office within Alexandria Real Estate Equities’ Campus Pointe, located in the University Town Center neighborhood of San Diego. The new space will house the company’s expanded San Diego Tech Hub, which will include 300 new high-tech jobs in fields in the software development, machine learning, cloud computing and digital entertainment. Amazon’s San Diego Tech Hub is one of 17 Tech Hubs outside of Seattle that employ more than 17,500 people across North America who invent and build new products and services for Amazon customers. Employees at the San Diego Tech Hub develop software systems for AmazonFresh, Prime Now, Amazon Web Services, supply chain tech, and preventing fraud and abuse on Amazon. Additionally, San Diego-based engineers and scientists recently played a key role in the launch of Whole Foods Market pickup and delivery via Prime Now, Alexa features for grocery shopping, and data-drive and machine-learning innovations. This expansion more than doubles Amazon’s tech workforce in the San Diego area.

September 7, 2018

Colorado Loans Office Western

iBorrow Provides $6.4M Loan for Co-Working Office Conversion in Denver

by Amy Works September 7, 2018

DENVER — iBorrow, a nationwide private direct lender for commercial real estate, has funded a $6.4 million for an industrial property slated for conversion into a co-working office building. Located at 3950 Wynkoop St. in Denver, the asset includes a 16,646-square-foot warehouse and a parking lot. The undisclosed borrower plans to construct a two-story structure above the current parking lot and a second story above the current warehouse.

September 7, 2018

Development Georgia Retail Southeast

Sembler, Berkley Development Break Ground on 166,465 SF Retail Project in Macon, Georgia

by Camren Skelton September 7, 2018

MACON, GA. — A joint venture between The Sembler Co. and Berkley Development has broken ground on North Macon Plaza, a 166,465-square-foot retail project located in Macon, located roughly 83 miles south of Atlanta. The center will be home to Marshalls/HomeGoods, Michaels, Beall’s Outlet, Old Navy, Five Below, Famous Footwear and Lifeway Christian. North Macon Plaza will be situated adjacent to a 600,000-square-foot Bass Pro Shops retail facility and distribution center, as well as the Shoppes at River Crossing, a 750,000-square-foot shopping center. The new center is scheduled to open in fall 2019. A second phase of the project could accommodate up to 50,000 square feet, according to the developers.

September 7, 2018

Development Retail Southeast Virginia

New Realm Brewing Opens New Location in Virginia Beach

by Camren Skelton September 7, 2018

VIRGINIA BEACH, VA. — Atlanta-based New Realm Brewing Co. has opened a new brewery in Virginia Beach. Co-founded by Carey Falcone, Bob Powers and Mitch Steele, the new location features a tasting room offering more than 15 different types of beer on tap; a 44,000-square-foot outdoor beer garden with fire pits, adult game areas and a patio bar; and private event space. The facility can produce up to 40,000 barrels annually and is built to scale to even larger capacities in the future. The brewery is located four miles from the oceanfront, in the space that was formerly home to Green Flash Brewing Co. Local food trucks will be onsite at New Realm daily, and bands are scheduled every Friday through Sunday. A full-service restaurant is scheduled to open at the brewery in early 2019. The Virginia Beach location is the second facility for New Realm, which opened its first brewery along the Atlanta BeltLine near Ponce City Market this past year.

September 7, 2018

Development Multifamily New Jersey Northeast

Prism Capital Partners Opens 300-Unit Multifamily Community in New Jersey

by David Cohen September 6, 2018

WEST ORANGE, N.J. — Prism Capital Partners has opened The Residences at Edison Lofts, a 300-unit multifamily community in West Orange. The property is a redevelopment of the 100-year-old Thomas Edison Invention Factory and Commerce Center. The residences at Edison Lofts range from 590 to 1,500 square feet with rental rates starting at $1,625 per month. Designed by Minno & Wasko Architects and Planners, Edison Village features 16-foot ceiling heights and 10-foot windows to let in natural light. Amenities at the complex include a private fitness center, indoor swimming pool, bike storage, a media room, business center, private dining room, doorman and concierge service.

September 6, 2018

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