PLYMOUTH TOWNSHIP, MICH. — KIRCO/KIRCO MANIX has broken ground on an 80,000-square-foot manufacturing facility in Plymouth Township, about 30 miles west of Detroit. The building, located at 41144 Concept Drive, will be home to Oerlikon Metco Inc. Peter E. Kepic and Peter J. Kepic of Colliers International coordinated the project on behalf of Oerlikon Metco. The Switzerland-based industrial and technology solutions group plans to use this location for producing advanced titanium alloys and high-end thermal spray powders for the automotive, aerospace, agricultural and medical industries. The facility is slated for completion in the spring of 2018.
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SPRING, TEXAS — Woodbine Development Corp., CDC Houston and USAA Real Estate have broken ground on a 337-room Marriott CityPlace hotel in Spring, a northern suburb of Houston. The 10-story hotel will anchor the eastern end of CityPlace, a 60-acre mixed-use development within the master-planned community of Springwoods Village. Amenities of the hotel, which is set to open in November 2018, include a pool with a bar, two ballrooms and an outdoor event area.
FLAT ROCK, ROMEO AND WAYNE, MICH. — The Michigan Strategic Fund board has approved performance-based grants and State Essential Services Assessment Exemptions to support Ford Motor Co.’s investment of approximately $2 billion in the automaker’s Flat Rock, Wayne and Romeo assembly plants. As part of the agreement, Ford will create approximately 700 new jobs at its Flat Rock Assembly Plant and approximately 100 new jobs at the Romeo Engine Plant. Ford plans to invest approximately $1 billion at its Flat Rock plant to build a data center and transform the plant into a manufacturing innovation center capable of producing electrified and autonomous vehicles, in addition to the Ford Mustang and Lincoln Continental. Ford expects to begin producing the first of these vehicles in 2020, including an all-new fully electric small SUV engineered to deliver an estimated range of at least 300 miles and its first fully autonomous hybrid vehicle for commercial application. The company will invest $1 billion in its Romeo and Wayne facilities, primarily to support Ford Ranger and Ford Bronco production.
NEW YORK CITY — Nobu Downtown will open in April at L&L Holding Co.’s 195 Broadway office tower. Located between Fulton and Dey Streets, the 12,500-square-foot restaurant includes a 4,500-square-foot street-level bar and lounge, subterranean dining and a private sake table. David Rockwell of Rockwell Group designed the restaurant space.
BOSTON — Wheelock Street Capital and The Seyon Group have formed a joint venture to acquire industrial real estate assets in prime Northeast markets. The joint venture commenced with the acquisition of three assets totaling $32 million along the Route 128 corridor in Greater Boston. The Seyon Group, recently formed by Bryan Blake, Andrew Iglowski and John Meador, pursues real estate investment opportunities varying in size and scope. The Wheelock/Seyon partnership was formed to take advantage of market forces increasing the demand for flex/industrial assets located in close-in suburban markets. Wheelock is targeting an allocation of $100 million from its current investment vehicle, Wheelock Street Real Estate Fund V, for equity investments in the industrial sector. The partnership has been active in the investment market since the start of 2017.
KING OF PRUSSIA, PA. — A new Saks Fifth Avenue OFF 5TH retail store will open on April 6 in metro Philadelphia. The 42,000-square-foot store will be located at the Overlook at King of Prussia. The store will include more than 800 brands offering luxury designer fashion.
WILMER, TEXAS — Interpoint Distribution Center, a 350,000-square-foot industrial property under construction in the Dallas suburb of Wilmer, is now available for lease. Situated on 24.3 acres near the crossing of Interstate 45 and Fulghum Road roughly 15 miles from downtown Dallas, the center will feature a 420-foot cross-dock configuration, 60-foot staging bays and 170 parking spaces. Colliers International will handle leasing of the building, construction of which is scheduled for completion this July.
MCALLEN, TEXAS — Home2 Suites by Hilton has opened a 99-suite location in the McAllen, a city in south Texas near the Mexico border. Amenities include a combined laundry and fitness area, outdoor pool and meeting/event space that can accommodate up to 100 guests. Perspective Hospitality Management Services will manage the property, which is located at 525 S. Ware Road, approximately three miles from McAllen-Miller International Airport.
SEMINOLE, FLA., AND MARIETTA, GA. — Studio Movie Grill, a dine-in theater chain, has planned two new locations in the Southeast: in the Tampa suburb of Seminole and the Atlanta suburb of Marietta. Both locations are scheduled to open before the end of 2017. Studio Movie Grill offers food, beer, wine and spirits while screening movies, concerts, sporting events and promotions. The company currently has 24 locations in nine states.
BOSTON — Senior Housing Properties Trust (NASDAQ: SNH) has formed a joint venture with a sovereign institutional investor to own 11 Fan Pier and 50 Northern Ave. in Boston. The investor will contribute $261 million for a 45 percent equity interest in the new venture, and SNH will own the remaining 55 percent. The investment amount is based on a property valuation of $1.2 billion, less $620 million of existing secured debt on the property. Senior Housing Properties Trust acquired the property included in the joint venture in May 2014 for $1.1 billion. It consists of two 15-story, LEED Gold-certified life science buildings with structured parking located in Boston’s Seaport District. The two buildings are 95 percent leased to Vertex Pharmaceuticals through 2028 and include 1.1 million square feet of lab, office and retail space. Senior Housing Properties Trust expects to use the cash proceeds from the transaction to repay a portion of the amounts outstanding under its revolving credit facility. Eastdil Secured acted as Senior Housing Properties Trust’s advisor and Sullivan & Worcester LLP provided legal counsel to the company in the transaction. SNH is a publicly traded REIT that invests in seniors housing, medical office buildings, wellness centers and …