COVINGTON, GA. — Nisshinbo Automotive Manufacturing Inc. (NAMI), a manufacturer and supplier of brake pads, will invest $72 million to expand its facility in Covington, Georgia Gov. Nathan Deal announced on Tuesday, Sept. 4. The expansion will create 100 production and administration jobs at the facility, which is located roughly 35 miles southeast of Atlanta. NAMI, a subsidiary of Japan-based Nisshinbo Group, has maintained a presence in Covington for 20 years. The Covington facility produces friction materials for automotive manufacturers and develops environmentally friendly, copper-free brake pads. According to the governor’s office, Japanese-affiliated companies currently operate more than 500 facilities in Georgia, employing approximately 30,000 people.
VACAVILLE, CALIF. — Dermody Properties has purchased a 14-acre land parcel on Icon Way in Vacaville for an undisclosed price. The company plans to develop LogistiCenter at Vacaville on the site, with construction scheduled to begin in October and finish in June 2019. The facility will feature 252,160 square feet of Class A space for industrial and logistics tenants, featuring 36-foot clear heights, and extra trailer and car parking to accommodate e-commerce companies. LogistiCenter at Vacaville will be located midway between the San Francisco Bay area and the Sacramento markets, offering access to interstates 550 and 80. Jason Ovadia of JLL represented Dermody in the land transaction, which was facilitated by Tom Schaal of Schaal Realty Advisors. The name of the seller was not released.
ALBUQUERQUE, N.M. — Sapir Real Estate Development has broken ground on the first phase of Snow Heights Promenade, a retail and entertainment project in Albuquerque. The $45 million phase will include a skyline live entertainment stage that will feature live DJ’s, concerts, comics, family movies, magic and puppet shows. In addition, Snow Heights Promenade will feature a children’s play area, dog park, restaurants, pubs, entertainment venues and retailers. Signed tenants at the development include Altitude Trampoline Park, Alamo Theaters, Fatburger, Outback Steakhouse, Juice It Up, Joe’s Pizzeria, U Choose Tacos, Divalish Desserts and Albuquerque Fitness Center, among others. The second phase of the project will include a $100 million office building with a rooftop dining experience. Sapir Real Estate Development expects to deliver the first phase of the project in January 2019.
LYNN, MASS. — Cornerstone Realty Capital has secured the $6.4 million refinancing of a 55-unit apartment building in Lynn. Located at 16 Newhall St., the fully occupied building is approximately 11 miles north of Boston. Cornerstone secured a loan through a correspondent lender with an initial fixed-rate period followed by a floating rate. The first 12 months will feature interest-only payments, followed by 30-year amortization. The borrower was undisclosed.
BANKS COUNTY, GA. — SELIT North America, a manufacturer of polystyrene foams and the U.S. affiliate of SELIT Europe, will invest $45 million to build a new manufacturing facility in northeast Georgia’s Banks County. The new facility will create 100 manufacturing and administrative positions. Based in Germany, SELIT Europe produces foams for acoustic and thermal insulation of floating flooring solutions like laminate, parquet and vinyl floors. SELIT North America is family-owned and holds the largest market share in its North American niche market. SELIT’s products are designed for top-tier flooring manufacturers, as well as do-it-yourself customers. A construction timeline for the Banks County facility was not disclosed.
BUFORD, GA. — Architecture firm Ware Malcomb has completed design on the new 985 Lanier Logistics Center located on Georgia State Road 13 and Lanier Islands Parkway in Buford, roughly 38 miles northeast of Atlanta. McCraney Property Co. is developing the project, and Evans General Contractor is building the facility. Construction has begun on the project, which will include three buildings totaling 615,572 square feet. The project will be able to accommodate tenants ranging in size from 25,000 to 236,000 square feet. The buildings will feature 32-foot clear heights, 38- to 42-foot dock high doors, tilt-up concrete panels, glass and a framed metal canopy at the building entrance. The project also includes 160 tractor-trailer stalls.
ST. PAUL, MINN. — The Vomela Cos. has unveiled plans to build a new corporate headquarters in St. Paul. The full-service specialty graphics provider, which has operated in St. Paul since 1947, will consolidate its four Twin Cities’ facilities into the new location. The 300,000-square-foot building will be located within Beacon Bluff Business Center on the site of 3M’s former campus. RJ Ryan Construction Inc. is serving as general contractor for the project. Construction began this month. The property will feature 252,000 square feet of production space and 47,500 square feet of office space. Completion is slated for July 2019.
DENVER — HFF has arranged financing for the development of Solera at Cherry Creek, a Class A seniors housing development in the Cherry Creek neighborhood of Denver. Solera at Cherry Creek will comprise 64 assisted living apartments and 32 memory care units within a three-story building totaling approximately 55,000 rentable square feet. A joint venture between affiliates of Banner Senior, Solera Senior Living and Wheelock Street Capital are developing the property. Rosemann & Associates is designing the community, which is scheduled for completion in 2019. The HFF team representing the borrower included David Fasano, Sarah Anderson and Brock Yaffe. A national bank is providing the nonrecourse loan. The amount of the financing was not disclosed.
MEMPHIS, TENN. — Robinson Weeks Partners will break ground in September on Memphis Global Crossing, a 421,470-square-foot industrial building in Memphis. The speculative project will be located at the southeast corner of Distriplex Farmers Drive and Global Drive, within the Distriplex Farms master-planned industrial development. The site is located two-and-a-half miles from the BNSF Intermodal Facility and eight miles from the FedEx Hub at Memphis International Airport. The cross-dock facility will feature 32-foot clear heights, 185-foot truck courts, 124 trailer parking spaces, 204 auto parking spaces and 127 dock doors, and will be designed to accommodate regional and national distributors and e-commerce fulfillment users. Cushman & Wakefield | Commercial Advisors LLC will handle the project’s leasing assignment on behalf of Atlanta-based Robinson Weeks. ARCO Design/Build is the general contractor for the project, and The Reaves Firm is the civil engineer.
BIRMINGHAM, ALA. — Birmingham-based Doster Construction Co. has broken ground on two new multifamily properties for Continental Properties in Tennessee and Louisville. The projects include the 296-unit Springs at Forest Hill that will be located at 3735 S. Forest Hill Irene Drive in Tennessee’s Shelby County, roughly 25 miles southeast of Memphis. The second community, Springs at La Grange, will be located in Louisville. The project will include 11 buildings with a total of 236 units. Both developments will feature amenities such as resort-style swimming pools, community clubhouses and fitness centers. A construction timeline for the projects was not disclosed.