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SL Green Breaks Ground on One Vanderbilt Avenue in Manhattan

by Amy Works October 19, 2016

NEW YORK CITY — SL Green Realty Corp. has broken ground on One Vanderbilt, a 58-story office tower located in Manhattan’s East Midtown business district. Designed by Kohn Pederson Fox Associates, tower will offer 1.7 million square feet of Class A office space. The project also includes $220 million of public improvements to Grand Central Terminal, which is adjacent to the tower. TD Bank is set to occupy 200,000 square feet of office and retail space at the property, upon its completion in 2020. Hines is serving as development manager and AECOM’s Tishman Construction is serving as construction manager.

October 19, 2016

Florida Loans Multifamily Southeast

BB&T Provides $103M Construction Loan to Melo Group for Square Station High-Rises in Miami

by John Nelson October 19, 2016

MIAMI — BB&T Bank has provided a $103 million construction loan to Miami-based Melo Group for Square Station, a multifamily development located at 1424 N.E. Miami Place in downtown Miami’s Arts and Entertainment district. Set for completion in 2018, the property will include two 34-story high-rise towers comprising 710 apartment residences and 15,000 square feet of ground-level retail and restaurant space. Situated adjacent to the Miami-Dade Metromover School Board Station, the apartment project will include one-, two- and three-bedroom apartments with rental rates ranging from approximately $1,650 to $2,500 per month. Interiors will include granite countertops, stainless steel appliances, laminated wood floors, porcelain tile and full-size washer and dryers in all units. Community amenities will include a resort-style swimming pool and pool deck, Jacuzzi, fitness center, valet service, covered garage parking, security control remote access and a social room for residents.

October 19, 2016

Georgia Seniors Housing Southeast

Greystar Breaks Ground on Two Age-Restricted Communities in Metro Atlanta

by John Nelson October 19, 2016

ATLANTA and KENNESAW, GA. — Greystar has broken ground on two active adult communities in metro Atlanta: Overture Barrett in Kennesaw and Overture Lindbergh in Atlanta. Both apartment communities are restricted to residents over the age of 55. Overture Barrett will offer 175 luxury apartments and Overture Lindbergh will offer 190 apartments. The communities will include one- and two-bedroom apartments featuring gourmet kitchens with prep islands, granite countertops, tiled backsplashes, custom cabinetry and stainless steel appliances, wood-style plank flooring, nine-foot ceilings, spa-style showers and garden tubs, walk-in closets, full-size top-load washers and dryers, and private balconies or patios in select units. The developers plan to complete construction on Overture Barrett by February 2018 and Overture Lindbergh by summer 2017. Greystar, a South Carolina-based multifamily developer and operator, will break ground on nearly a dozen Overture-branded active adult properties during 2016 in Georgia, Texas, Virginia, North Carolina, Florida, California and Arizona.

October 19, 2016

Hospitality Northeast Rhode Island

Omni Providence Hotel Completes $15M Renovation in Rhode Island

by Amy Works October 18, 2016

PROVIDENCE, R.I. — The Omni Provident Hotel has completed a $15 million renovation program to its West tower. Renovations at the 564-room hotel, located at 1 W. Exchange St. in Providence, include guest rooms, landings and public spaces receiving fresh designs that complement elements of local New England flair. Each guest room features new vinyl wallcoverings and carpeting, custom bedding and drapery, plush seating, artwork and modern decorative lighting. Upgrades to the guest room bathrooms include new vanities, wallcoverings, illuminated mirrors, and new finishes and materials. Additionally, the guest corridors and elevator lobbies received new carpeting, furnishing, wallcoverings, paint, contemporary light fixtures and artwork.

October 18, 2016

Michigan Midwest Retail

Motown Museum to Undergo $50M Expansion in Detroit

by Amy Works October 18, 2016

DETROIT — Motown Museum will undergo a $50 million expansion to increase the size of the museum to 50,000 square feet in Detroit. The expansion will be designed and built around the current museum space and the Hitsville U.S.A. house, the first headquarters for the legendary recording label. The new facility will feature interactive exhibits, a state-of-the-art performance theater, recording studios, an expanded retail area and meeting spaces. The project team includes Perkins + Will, Hamilton Anderson Associates, Brinker Group and Gallagher & Associates.

October 18, 2016

Office Texas

Ziegler Cooper, Basic Builders Renovating 5300 Memorial Drive in Houston

by Haisten Willis October 18, 2016

HOUSTON — Ziegler Cooper Architects and Basic Builders are renovating 5300 Memorial Drive, an 11-story, 153,000-square-foot office building in Houston. Built in 1983 and renovated in 1993, the building’s common areas, including its entry, ground floor lobby, elevator lobbies and cabs, corridors and restrooms will be remodeled and modernized. Improvements will include a new building monument sign, lobby coffee bar, hotel-grade restroom finishes and LED lighting in common areas. Owner Equus Capital Partners has retained Ziegler Cooper and Basic Builders as the design-build team on the project, which is slated for completion in the first quarter of 2017. 5300 Memorial is located in the Midtown submarket between Memorial Park and Buffalo Bayou Park. JLL’s Jessica Ochoa and Russell Hodges recently completed two lease renewals at 5300 Memorial on behalf of Equus Capital Partners. The Shanks Law Firm, represented by Morgan Relyea of Cushman & Wakefield, renewed an 8,463-square-foot lease, and A. Randall Camacho, represented by Lee & Associates’ Travis Taylor, renewed a 3,523-square-foot lease.

October 18, 2016

cinemark-theatres-valley-ranch-town-center

Retail Texas

Cinemark Theatres to Open 10-Screen Location in Valley Ranch Town Center

by Haisten Willis October 17, 2016

NEW CANEY, TEXAS — Cinemark Theatres is planning to begin construction on a 10-screen theater in the entertainment district at Valley Ranch Town Center, a development of The Signorelli Co. Valley Ranch is a 240-acre retail district located at the intersection of I-69 and the Grand Parkway. The new theater will be Cinemark’s 13th location in the Houston area and the first new construction, all-reclining seat theater for Cinemark in metro Houston. Each auditorium will feature electric reclining seats with adjustable head and foot rests, and the theater will offer reserved seating, online ticketing and self-serve concessions. The theater is expected to be 40,000 square feet and will open in late 2017 or early 2018.

October 17, 2016

New York Northeast Retail

Thor Equities Buys 180 Bedford Avenue in Brooklyn to Develop 14,500 SF Retail Building

by Amy Works October 17, 2016

NEW YORK CITY — Thor Equities has acquired 180 Bedford Avenue in Brooklyn’s Williamsburg neighborhood from an undisclosed seller for $30 million. The company plans to develop a retail building. Designed by Fradkin & McAlpin Architects, the 14,500-square-foot building will feature 120 feet of wrap-around frontage on Bedford Avenue and North Seventh Street. The building will feature brick exterior finishes, floor-to-ceiling glass windows, a 2,500-square-foot roof deck, and 12,000 square feet of floor space divided equally among three floors, including a lower level with 12-foot ceilings. Additionally, the building’s plumbing, electrical and HVAC systems are designed to accommodate a commercial kitchen, should a future tenant need one.

October 17, 2016

Industrial Northeast Pennsylvania

Eldorado Stone Leases 432,000 SF Build-to-Suit Industrial Building in Antrim Township, Pennsylvania

by Amy Works October 17, 2016

ANTRIM TOWNSHIP, PA. — Eldorado Stone has signed a lease for a 432,000-square-foot build-to-suit industrial building at Antrim Commons Business Park in Antrim Township. The company, which manufactures architectural stone veneer, plans to consolidate two operations currently located in Greencastle, Pa., and Hagerstown, Md., into the facility. The company plans to invest nearly $7 million into the new location. The joint venture ownership between Atapco Properties and Chesapeake Real Estate Group plans to construct the new facility on a 25.4-acre parcel of land on Antrim Commons Drive within the business park. The property is slated for delivery in summer 2017. Antrim Commons Business Park is configured to support up to 6 million square feet of industrial and commercial space. Eldorado Stone received a $250,000 Pennsylvania First Program grant and $114,000 in Job Creation Tax Credits that will be distributed after the new jobs are created.

October 17, 2016

Georgia Office Southeast

Skanska to Build $56M Office Building in Atlanta

by John Nelson October 17, 2016

ATLANTA — Skanska has signed a $56 million contract to construct a build-to-suit corporate office building in Atlanta for an undisclosed company. The office building will span roughly 200,000 square feet and feature a 210,000-square-foot parking deck. Skanska expects to deliver the building in 2018.

October 17, 2016

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