UPPER PROVIDENCE, PA. — Skanska USA Building has signed a contract to renovate GlaxoSmithKline’s (GSK) laboratory and office space in Upper Providence. The project includes the demolition of four floors of existing laboratory space and a new build out of about 100,104 square feet of SMART Lab space, supporting GSK R&D’s Upper Providence facility investments. Construction is slated to begin in December with completion scheduled for October 2017. The contract is worth $45 million and will be included in the order bookings for Skanska USA Building in the fourth quarter.
TOTOWA, N.J. — HFF has arranged $12.2 million in construction financing for the conversion of a light industrial building into a 1,246-unit self-storage facility in Totowa. The developer and borrower is a joint venture between Tulfra Real Estate and The Hampshire Cos. M&T Bank provided the loan. Located at 930 N. Riverview Drive, the renovated facility will feature 1,235 climate- and 11 non-climate controlled units. Jon Mikula and Michael Klein of HFF represented the borrower in the financing transaction.
PROVIDENCE, R.I. — Braintree, Mass.-based John M. Corcoran & Co. and Providence-based Trilogy Development have broken ground on Commons at Providence Station, a multifamily building situated on 2.8 acres at Smith and Canal streets in Providence. Slated for completion in summer 2018, the 145,000-square-foot property will offer 169 rental units, 170 subsurface parking spaces, a yoga room, gym, and roof deck with views of the statehouse. The $54.1 million project is adjacent to the Providence train station with access to the Massachusetts Bay Transportation Authority and Amtrak train systems. The development was made possible with assistance from Rebuild Rhode Island tax credits awarded by the Rhode Island Commerce Corp. and will create 225 direct jobs and 125 indirect jobs for the community. The Rebuild Rhode Island program uses redeemable tax credits to finance at-risk real estate projects. The program has provided $400 million worth of private real estate investment over the past year and led to agreements to bring nine new companies to the state.
GREENVILLE, S.C. — Ziff Properties Inc. has purchased Buncombe Plaza, a mostly vacant, 52,000-square-foot shopping center located in Greenville’s Water Tower district. Ziff Properties will convert the asset to a 67,500-square-foot self storage facility comprising 777 controlled climate and non-controlled climate units. The property will also provide RV and boat parking. Ziff Properties will begin the redevelopment project in spring 2017.
MORGAN HILL, CALIF. — The city planning commission of Morgan Hill has approved plans for a three-story, mixed-use building located at 17395 Monterey Road in downtown Morgan Hill. Designed by KTGY Architecture + Planning, the 10,000-square-foot building will be used as a dining destination owned and operated by local restauranteur Dan McCranie. Construction is slated to begin in early 2017, with completion scheduled by the end of the year.
FOREST PARK, OHIO — Phillips Edison & Co. has signed an incentive agreement with the city of Forest Park for the redevelopment of Civic Center Shopping Center. Forest Park is located about 20 miles north of Cincinnati. The city has approved a $35,000 grant to invest in capital improvements at the shopping center for retaining and attracting retailers. The 87,757-square-foot center is located at the corner of Waycross Road and Hamilton Avenue, and is anchored by Ollie’s Bargain Outlet and O’Reilly Auto Parts.
NEW YORK CITY — Hilton Hotels & Resorts has opened Hilton Brooklyn New York, a 196-key hotel located at 140 Schermerhorn St. in Brooklyn’s Boerum Hill neighborhood. Designed by Stonehill & Taylor, the 19-story hotel features 2,300 square feet of function space, accommodating up to 140 attendees for meetings and social events, a 24-hour fitness center, a business center, grab-and-go pantry and concierge services. The hotel is owned by Flank and managed by Urgo Hotels & Resorts.
ROMEOVILLE, ILL. — Aryzta has opened a new 193,000-square-foot distribution center in Romeoville, about 25 miles southwest of Chicago. The facility specializes in cold storage and will store foods that are made at the global baking company’s Chicagoland area bakeries. The company also has a bakery location in Romeoville. Meridian Design Build was the general contractor and WBS Equities LLC was the development manager. Ware Malcomb provided architectural and structural design services, while Jacob & Hefner Associates completed civil engineering work.
Covenant Development, Parkcrest Builders Break Ground on 240-Unit Multifamily Property in San Marcos
SAN MARCO, TEXAS — Covenant Development and Parkcrest Builders have broken ground on an apartment community in San Marcos. The three-story property will feature 240 one- and two-bedroom units, a resort-style pool, clubhouse with an internet lounge and residential community space, a fitness area, covered parking, enclosed garages, leasable storage space and co-working space. The first units are expected to be delivered in summer 2017.
BRYAN, TEXAS — Managed by Trust Hospitality, The Stella is slated to open in March 2017 in Bryan. Located at the Texas A&M Biocorridor, the hotel will feature 176 guest rooms and suites, 10,000 square feet of indoor event space, 12,000 square feet of outdoor space and a restaurant. The hotel was designed by FAB Studio with interiors by Design DMU.