MELVILLE, N.Y. — A&G Realty Partners has launched a division focused on maximizing the value of real estate assets and leases in non-retail sectors. The formal launch of the non-retail properties division follows several years in which A&G worked to broaden its reach to sectors including office, industrial, higher education and multifamily.
NEWPORT, ORE. — The Neenan Company and Gerding Builders have broken ground on the redevelopment of a 126,000-square-foot critical access hospital for Samaritan Pacific Communities Hospital (SPCH) in Newport. The redevelopment includes remodeling the existing 40,000-square-foot facility, as well as adding an 86,000-square-foot facility. The new facility will house 22 departments, including imaging, therapy, surgical and emergency services, greatly enhancing the scope of services the hospital will provide. The hospital will offer an integrated medical campus that brings together specialty departments, ancillary services and outpatient clinics. The hospital is situated immediately off the Pacific Coast Highway along the central Oregon coast. It was last updated in 1988. The project is scheduled for completion in 2019. The community approved a $57 million bond support to update the critical access hospital.
JACKSONVILLE, FLA. — Concord Hospitality has begun construction on Hyatt Place Jacksonville, a 160-room hotel situated across from St. Johns Town Center in Jacksonville. The five-story hotel will anchor The Strand at St. Johns Town Center, a new 45-acre mixed-use development with retail, restaurants and multifamily residences. Scheduled to open in late 2018, the hotel will feature 3,000 square feet of flexible meeting space, an outdoor pool, fitness center and an outdoor deck for events. Concord Hospitality operates two other Hyatt-branded hotels in Florida: Hyatt Place Miami Airport and Hyatt Centric South Beach Miami. Concord also plans to open Hyatt Centric Brickell Miami later this year.
EDGERTON, KAN. — United Parcel Service Inc., in collaboration with NorthPoint Development, is developing a 197,000-square-foot distribution center in Logistic Park Kansas City (LPKC) in Edgerton. The facility will include a UPS Customer Center and will dispatch trucks for routes in the area. Missouri-based NorthPoint is the real estate developer for LPKC, a 1,700-acre distribution hub now containing over 10 million square feet of warehouse and distribution space. The new UPS operation will be located on the west side of LPKC at 19400 Essex St. The location is less than a mile from the BNSF intermodal facility and is accessible to I-35 via Homestead Lane.
ATLANTA — CT Realty, through its affiliate Port Logistics Realty, and joint venture partners PGIM Real Estate and River Oaks Capital Partners have purchased 213 acres of land in Atlanta for the development of Palmetto Logistics Park, a 3.5-million-square-foot industrial park. The joint venture also has a purchase option on an adjacent 145 acres. Situated across from a CSX intermodal facility and near Interstate 85, Palmetto Logistics Park will be built in three phases with buildings ranging in size from 1 million square feet to 1.5 million square feet. Fifth Third Bank will provide construction financing for the first phase building of Palmetto Logistics Park. Ben Logue and Price Weaver of Colliers International’s Atlanta office will handle the park’s leasing assignment. No timeline for groundbreaking or delivery was disclosed. Dallas-based Port Logistics Realty is a partnership between CT Realty and Xebec Realty, two Southern California-based industrial development firms.
HUNTSVILLE, ALA. — The Hollingsworth Cos. has broken ground on a 252,000-square-foot industrial facility within SouthPoint Industrial Park in Huntsville. The property will be SouthPoint’s fifth building, and Hollingsworth plans to commence construction on a sixth this summer. Situated along Interstates 65 and 565, the new property will feature 32-foot clear heights and 14 loading docks. Hollingsworth has completed a few industrial projects in the Southeast recently, including a 264,763-square-foot asset in Cookeville, Tenn.; a 183,618-square-foot expansion in Prince George, Va.; and a 127,950-square-foot manufacturing facility in Andersonville, Tenn.
ATLANTA — Miami-based Banyan Street Capital plans to implement large-scale renovations to the retail portion of Peachtree Center, a mixed-use, transit-oriented development located in downtown Atlanta. Situated over the underground Peachtree Center MARTA station, Peachtree Center comprises six office towers, three hotels, three parking garages and the Mall at Peachtree Center. Amy Fingerhut and Sara Pepper of CBRE have been tapped to lease the redeveloped retail center, which is currently home to over 50 restaurants, retailers and service tenants. Along with the addition of new restaurants and shops, renovations to the center will include changes to the indoor mall area and outdoor courtyard. Construction is set to begin this summer. Beck is serving as the architect on the project.
FLAGSTAFF, ARIZ. — Chicago-based Core Spaces is set to deliver six student housing communities in summer 2018. Developments include Hub on Campus Flagstaff, a 591-bed community near Northern Arizona University. Other Hub on Campus communities will be built in West Lafayette near Purdue University; Minneapolis near the University of Minnesota; Ann Arbor near the University of Michigan; Tuscaloosa near the University of Alabama; and Orlando near the University of Central Florida.
DECATUR, GA. — BMO Harris Bank’s Healthcare Real Estate Finance group has closed $44.2 million in construction and mini-perm financing for Solomon Holdings. The capital will be used to build The Holbrook of Decatur, a 200-unit seniors housing community in the Atlanta suburb of Decatur. The community will feature 71 independent living units, 96 assisted living units and 33 memory care units. The upscale property is located near Emory University and will feature multiple dining venues, a spa and indoor pool. Choate Construction Co. will build the community, which CDH Partners designed. Once completed, Speak Life Management will be the operator. Construction began in April, and an estimated completion date has not yet been announced.
SAN JOSE, CALIF. — DICK’S Sporting Goods opened six new stores in May. A grand opening event was recently held for the new location in Chula Vista, and another will be held May 26-28 for the new location in San Jose. With the grand opening of these new stores, DICK’S will have 697 locations in the United States. Headquartered in Pittsburgh, DICK’S also owns and operates Golf Galaxy and Field & Stream specialty stores.