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Talonvest Capital Secures $24.1M Construction Loan for Metro Self Storage

by Amy Works June 8, 2017

CHADDS FORD, PA. — Talonvest Capital has arranged $24.1 million in construction financing for Metro Self Storage. The borrower plans to develop one self-storage facility in Chadds Ford and two in Naperville and Addison, Illinois. In total, the new developments will feature more than 236,000 rentable square feet. A Midwestern-based bank financed the Pennsylvania development, while an East Coast-based bank funded the two suburban Chicago properties. Kim Leslie, Tom Sherlock and Jim Davies of Talonvest negotiated and structured the loans for the borrower.

June 8, 2017

Industrial Michigan Midwest

Wolverine Breaks Ground on 100,000 SF Industrial Facility in Hastings, Michigan

by Kristin Harlow June 6, 2017

HASTINGS, MICH. — Wolverine Building Group has broken ground on a 100,000-square-foot industrial facility in Hastings, about 26 miles north of Battle Creek. Hastings Fiberglass, a fiberglass tool designer and manufacturer, will occupy the property. The $8 million development is located approximately a quarter-mile from the company’s current headquarters, which spans 70,000 square feet and is located at 770 Cook Road in Hastings. Completion of the property is slated for February 2018.

June 6, 2017

Office Southeast Tennessee

Kevin Hyneman Cos. to Build $11.4M Headquarters in Metro Memphis for Mueller Industries

by John Nelson June 5, 2017

COLLIERVILLE, TENN. — Kevin Hyneman Cos. plans to build a new 55,000-square-foot headquarters facility for Mueller Industries, a plumbing and HVAC parts manufacturer. The new headquarters building, which will house 125 Mueller employees, will cost approximately $11.4 million to develop. The facility will be situated within the 450-acre Boyle Schilling Farms mixed-use development, which is home to companies such as Helena Chemical, MCR Safety and Juice Plus. Mueller, a Fortune 1000 firm, expects to occupy the new office space in late 2018.

June 5, 2017

New Jersey Northeast Retail

First Tenants Open at Hanover Crossroads in Cedar Knolls, New Jersey

by Haisten Willis June 2, 2017

CEDAR KNOLLS, N.J. — AutoZone, QuickChek and MedExpress Urgent Care have become the first tenants to open at Hanover Crossroads, an under-construction shopping center in Cedar Knolls. Additional tenants soon to open include T.J.Maxx, HomeGoods, Five Below and ULTA Beauty. Key Properties is the developer for the 107,000-square-foot project, which is now nearly 80 percent leased. Located at 110 East Hanover Ave., Hanover Crossroads is located on the former site of Berlex Laboratories. The property was rezoned from office/laboratory to retail use in 2010.

June 2, 2017

Massachusetts Mixed-Use Northeast Office Retail

OMA to Design Mixed-Use Project in Boston’s Seaport District

by Haisten Willis June 1, 2017

BOSTON — WS Development has hired architecture firm OMA to design a mixed-use project located at 88 Seaport Blvd. in Boston. The project, located in Boston’s Seaport District, is OMA’s first commission in the city of Boston. OMA’s Shohei Shigematsu will lead the design efforts at 88 Seaport, which upon completion will include nearly 425,000 square feet of office space, 60,000 square feet of retail on the first two floors and 5,000 square feet of civic/cultural use. Construction is slated to begin in 2018 and finish in 2020.

June 1, 2017

department-of-veterans-affairs-health-care-center-butler-pennsylvania

Healthcare Northeast Pennsylvania

Cambridge Healthcare Solutions Completes VA Healthcare Center in Butler, Pennsylvania

by Haisten Willis June 1, 2017

BUTLER, PA. — Cambridge Healthcare Solutions has completed development of a Department of Veterans Affairs (VA) healthcare center in Butler. Cambridge teamed with Stantec for design and Mascaro Construction for construction of the building. The VA accepted the facility on May 26, and Cambridge will remain as asset manager throughout a 20-year lease. The 251,000-square-foot facility is located on 46 acres on Duffy Road and valued at approximately $110 million. The healthcare center is expected to open in late August will provide outpatient primary care, specialty services, mental health, dental, physical rehabilitation and women’s health care, augmenting services offered at an existing VA campus in Butler.

June 1, 2017

Hospitality Texas

Rosebriar Arranges Sale of 4.3 Acres in Dallas for Development of Marriott Hotel

by Taylor Williams May 31, 2017

DALLAS — Rosebriar Properties has arranged the sale of 4.3 acres within the Stemmons Crossroads, a 50-acre development in Dallas, for the future construction of a Marriott-branded hotel. The new hotel will be the second hospitality development within Stemmons Crossroads this year, the other project being a 103-room Holiday Inn Express. Rob Adams and Bill Hanks of Rosebriar Properties represented the undisclosed buyer in the transaction.

May 31, 2017

Multifamily New Jersey Northeast

Construction Tops Out on Multifamily Development in Weehawken, New Jersey

by Haisten Willis May 31, 2017

WEEHAWKEN, N.J. — Avora, a condominium development in Weehawken, has topped out at 11 stories, representing a significant construction milestone for the property, which offers views of midtown Manhattan. Landsea is the developer for the project. When complete, Avora will include 184 units and 6,000 square feet of street-level retail space. Initial occupancy is scheduled for first quarter 2018.

May 31, 2017

Multifamily New York Northeast

Two Multifamily Properties Known as The Style Open in East Harlem, NYC

by Haisten Willis May 31, 2017

NEW YORK CITY — The Style, a pair of condominiums designed by Gene Kaufman Architect (GKA) and originally slated for delivery last summer, are now open at 51 E. 131st St. and 48 East 132nd St. in the East Harlem neighborhood of Manhattan. The Fane Organization was the developer for both properties. Located on a single parcel of land, the structures surround a 1,900-square-foot courtyard with trees, benches and tables. The 8,300-square-foot property at 51 E. 131st St. spans six stories and 12 units, while an adjacent 13,000-square-foot building spans seven stories and 19 units. The units in both structures are a mix of studios and one- and two-bedroom apartments. Amenities at The Style include a fitness center, recreation space and indoor bike storage. Pitchon Design Group handled interior design responsibilities.

May 31, 2017

New York Northeast Restaurant Retail

Quality Eats Opens New Location in NYC

by Haisten Willis May 31, 2017

NEW YORK CITY — SCG Retail, a division of The Shopping Center Group, has arranged the lease of a new location for Quality Eats at 3 E. 28th St. in Manhattan. Quality Eats is a steakhouse concept owned by Quality Branded Restaurants. The 5,000-square-foot location is expected to open late this year. Allan Stillman and Michael Stillman founded Quality Branded Restaurants, formerly known as Fourth Wall Restaurant Group, in 2007. The first location for Quality Eats opened more than a year ago in Greenwich Village. The restaurant recently signed a lease for a second Manhattan location on the Upper East Side at 1496 Second Ave. Brandon Berger and Jackie Totolo of RKF represented the landlord, Winter Properties, while Taryn Brandes of SCG Retail represented the tenant in the transaction.

May 31, 2017

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