development2

Lincoln Ventures to Develop Student Housing Near the University of Texas at Austin

by Haisten Willis June 16, 2016

AUSTIN, TEXAS — Austin-based developer Lincoln Ventures plans to build a Class A student housing development two blocks west of the University of Texas at Austin campus. The Ruckus, located at 2502 Nueces St., will be a seven-story project totaling 45 units with a mix of two to five bedrooms, totaling 160 beds. Amenities at The Ruckus will include a sky gym/fitness center and terrace, cyber café, gaming area, 24-hour study lounges and conference rooms, package concierge, secure access and parking and a coffee bar. The development will include car-sharing options, such as Zip Car and car-2-go, and a bike-sharing program. Individual units will come fully furnished and offer nine-foot ceilings, high-speed internet, stainless-steel appliances, washers and dryers. Select units will offer views of the UT Tower and downtown Austin.

June 16, 2016

Industrial Texas

Bob Moore Construction to Build Manufacturing Complex in Hillsboro

by Haisten Willis June 16, 2016

HILLSBORO, TEXAS — Bob Moore Construction has been selected to build a manufacturing and distribution complex along with associated infrastructure for Hillsboro IKO, a roofing company. The company’s new complex in Hillsboro will be used to manufacture and distribute roofing materials in the Southwest. The complex will include several buildings spanning more than 250,000 square feet. Site work began in early June.

June 16, 2016

New York Northeast Office

Kamber Management Unveils $20M Capital Improvement Plan for Tower 45 in Manhattan

by Amy Works June 15, 2016

NEW YORK CITY — Kamber Management Co. has launched a $20 million capital investment plan for Tower 45, a 40-story Class A office building located at 120 W. 45th St. in Manhattan. Kohn Pederson Fox will redesign the entrance, façade, lobby and elevator cabs of the 458,446-square-foot property. Additionally, Milo Kleinberg Design Associates is creating new interior design concepts for common areas, including hallways, bathrooms and a new pre-built suite program. Current office tenants at the 26-year-old property include Procter & Gamble, TIBCO Software, Shrodinger, Lipsky Goodkind and Co., and Bobby Van’s Steakhouse.

June 15, 2016

Illinois Industrial Midwest

IDI Gazeley Developing 276,250 SF Industrial Business Park Near Chicago

by Christina Cannon June 15, 2016

BLOOMINGDALE, ILL. — IDI Gazeley is developing a new 276,250-square-foot industrial business park in Bloomingdale, approximately 30 miles northwest of Chicago. The three-building Bloomingdale Corporate Center is slated for completion by the end of this year. The center will include 255 Madsen, 260 Madsen and 270 Madsen, which will be 51,600 square feet, 70,650 square feet and 154,000 square feet, respectively. Each building will feature loading docks, concrete truck courts, 30-foot clear heights, T-5 lighting and ESFR sprinkler systems. Newmark Grubb Knight Frank will serve as the leasing agent for the complex.

June 15, 2016

Texas-City-Professional-Building-2501-Palmer-Highway

Office Texas

Mainland Bank Relocating Headquarters in Metro Houston

by Haisten Willis June 14, 2016

TEXAS CITY, TEXAS — Mainland Bank has selected Texas City Professional Office Building as its new headquarters and banking hub, signing a long-term lease for a property in Texas City now undergoing a major renovation. The bank has leased 5,555 square feet at 2501 Palmer Highway, a two-story office building with three covered drive-thru banking lanes. Mainland Bank’s new space and the balance of the 33,486-square-foot structure will be renovated this summer. A-K Texas Venture Capital owns the 90 percent-occupied building. Texas City Professional Office Building features 111 parking spaces, Wi-Fi and a digital lobby directory. Upgrades are planned for the common areas, lobby and elevator cabs. Mainland Bank was chartered in 1944 as First State Bank. Richard Barbles of Stream Realty Partners represented the bank in lease negotiations.

June 14, 2016

Office Texas

Falcon Realty Advisors Opens Austin Office

by Haisten Willis June 14, 2016

AUSTIN, TEXAS — Falcon Realty Advisors, a Dallas-based commercial real estate company that represents retail, restaurant and entertainment tenants, has expanded into central Texas with the opening of an office in Austin. The Austin office will serve as an extension of Falcon’s Dallas headquarters by continuing operations within its tenant representation services and the development of its build-to-suit platform. The Austin branch will also be actively recruiting brokers and new team members. Travis Heinrichs, who joined Falcon in 2013 and most recently served as director of investments, will be heading the new branch as director. The firm’s portfolio consists of Austin-based Whole Foods Market and other retailers throughout the state including Petco, Mattress Firm, Robbins Brothers and iPic Theaters. Falcon is a member of Realty Resources, a member-owned retail real estate brokerage group that combines firms from more than 25 cities around the country into one network.

June 14, 2016

Hospitality Texas

Weis Builders Breaks Ground on Downtown Fort Worth Hotel

by Haisten Willis June 13, 2016

FORT WORTH, TEXAS — Weis Builders has begun construction on a Hampton Inn & Suites in downtown Fort Worth at the former site of the Fort Worth United Way. Located across from Fort Worth Convention Center, the 245-key hotel will feature an indoor fitness area, swimming pool, business meeting and conference areas and a lounge with a bar.

June 13, 2016

Industrial Texas

Colliers Arranges Sale of Two Land Tracts in Metro Houston for Warehouse Facilities

by Haisten Willis June 13, 2016

TOMBALL and PASADENA, TEXAS — Colliers International has arranged the sale of two land tracts for the expansion of Restaurant Depot, a wholesale grocery and foodservice supplier, in metro Houston. Restaurant Depot is a division of Jetro Holdings LLC, headquartered in College Point, N.Y. Each tract will house a 60,000-square-foot distribution warehouse store. One of the new locations is a 5-acre site on the west side of SH 249 north of Spring Cypress Road in Tomball. The other location is a 5.4-acre site on the northeast side of Preston Road between East Beltway 8 and Crenshaw Road in Pasadena. The new stores are expected to break ground in the fourth quarter and will be open for business by summer 2017. Marshall Clinkscales of Colliers’ Houston office and Tom Condon Jr. of The Woodlands office represented the buyers, JMDH Real Estate of Tomball LLC and Preston Park LLC, respectively. Keith Edwards with Caldwell Cos. represented the seller of the Tomball location. Alix Fox with Qualified Properties represented Mattie Faye Properties LLC, the seller of the Pasadena location. Kerry Wakefield with Alamo Title Co. coordinated both closings.

June 13, 2016

Loans Multifamily New York Northeast

Alchemy Properties to Convert Upper Floors of Landmark Woolworth Building into Luxury Condos

by Amy Works June 13, 2016

NEW YORK CITY — Alchemy Properties Inc. has received $220 million in financing for the conversion of the upper floors of the landmark Woolworth Building into luxury condominiums called The Woolworth Tower Residences. Reed Smith LLP represented the lender, United Overseas Bank Limited, New York Agency, in the financing. The luxury condominium conversion will be designed by Thierry Despont. Built in 1913, the Neo-Gothic tower was commissioned by Frank W. Woolworth and designed by Cass Gilbert. The Reed Smith LLP team included Joseph Sarcinella, Gerard Hefner, Crystal Persaud, Konstantinos Melitsanopoulos and Rose Plager-Unger.

June 13, 2016

Illinois Industrial Midwest

Amazon to Open Two 700,000 SF Fulfillment Centers in Edwardsville, Illinois

by Christina Cannon June 13, 2016

EDWARDSVILLE, ILL. — Amazon has unveiled plans to open two fulfillment centers in Edwardsville, approximately 30 miles northeast of St. Louis, Mo. The two facilities will create more than 1,000 full-time jobs. Each facility will span more than 700,000 square feet and be located where employees pick, pack and ship items. One building will specialize in handling larger items such as big-screen televisions, sports equipment and kayaks. The other building will handle smaller items such as books, toys and electronics.

June 13, 2016

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