development2

Peloton Begins Construction on Class A Office Development in Metro Austin

by Haisten Willis May 12, 2016

BEE CAVE, TEXAS — Peloton Commercial Real Estate has broken ground on a two-building, Class A office development located adjacent to the Hill Country Galleria, Galleria Oaks in Bee Cave. Developed by Adrian Overstreet, the two 75,000-square-foot buildings and a 150,000-square-foot parking garage will be delivered next February. True Car has pre-leased 37,757 square feet and will be the lead tenant in Building I, taking the top floor and half of the second floor. True Car is expected to move into its office space in March 2017.

May 12, 2016

Moinian Begins Construction on 2M SF Office Tower in Hudson Yards District

by Amy Works May 11, 2016

NEW YORK CITY — The Moinian Group has begun work on the foundation of 3 Hudson Boulevard, a 66-story office tower located in the Hudson Yards District. Designed by FXFOWLE Architects and slated for completion in 2021, the 2 million-square-foot tower will feature 48,000-square-foot floor plates on the podium level, 30,000-square-foot to 35,000-square-foot, column-free floor plates on the tower office floors, 10-foot finished ceilings and floor-to-ceiling windows. The amenity-rich building also anchors Hudson Boulevard Park, a public green space featuring fountains, green space, public seating and event space. The foundation is slated for completion by late 2017. A portion of the foundation is already underway as part of the MTA’s current infrastructure work for the second entrance to the 34th Street Station on the new No. 7 subway extension.

May 11, 2016

Industrial Massachusetts Northeast Office

EMD Serono Selects JLL Construction for $12M Expansion Project

by Amy Works May 11, 2016

BILLERICA, MASS. — EMD Serono, the biopharmaceutical business of Merck KGaA, has selected JLL Construction for its $12 million expansion project in Billerica. The new 30,000-square-foot building will expand the existing research and development complex. Additionally, the facility will accommodate 120 new and current employees who will focus on accelerating innovation in R&D, particularly on oncology, immune-oncology and immunology. JLL Construction broke ground for the project in early May and construction is slated to begin in late spring 2016.

May 11, 2016

Northeast Pennsylvania Retail

Macy’s Opens Backstage Concept within 25,000 SF at Harrisburg Mall

by Amy Works May 11, 2016

HARRISBURG, PA. — Macy’s has opened its new Backstage concept within 25,000 square feet of space on the first level of Harrisburg Mall, located on Paxton St. in Harrisburg. The new off-price brand is designed to elevate the neighborhood off-price experience. Featuring a dedicated entrance from the outside, Macy’s Backstage will feature an array of men’s, women’s and children’s apparel, shoes, accessories, housewares and home textiles. Additionally, each Backstage store will feature a Sunglass Hut section and a branded eatery. Macy’s intends to outfit 10 stores with the Backstage configuration and construct an additional 50 stand-alone configurations of the concept for a total of 60 locations.

May 11, 2016

Central-Park-at-Craig-Ranch-mckinney-texas

Multifamily Texas

SWBC Real Estate Acquires Land for Multifamily Developments in Metro Dallas

by Haisten Willis May 11, 2016

MCKINNEY, TEXAS — SWBC Real Estate LLC has purchased 9.3 acres within the 2,200-acre Craig Ranch master planned community in McKinney to develop two Class A multifamily properties. Craig Ranch is located on the north side of State Highway 121, also known as the Sam Rayburn Tollway. SWBC will develop the site in two phases. The first phase will be named Central Park at Craig Ranch and will consist of 269 units. At total build-out, the site is projected to contain 550 units. Central Park at Craig Ranch will include one-, two- and three-bedroom units. Amenities will include a clubhouse with a community business center, attached parking garage, 24-hour fitness center, pool and spa. Units will feature 10-foot ceilings, granite countertops, stainless steel appliances and washer/dryer hookups. Cross Architects is the architect for the project, Stantec is the engineer and SWBC Builders LLC is the general contractor. SWBC Real Estate plans to break ground on the project in the fourth quarter.

May 11, 2016

Retail Texas

CBL & Associates, Horizon Group to Develop The Outlet Shoppes at Laredo

by Haisten Willis May 11, 2016

LAREDO, TEXAS — CBL & Associates Properties has formed a 65/35 joint venture with Horizon Group Properties to develop The Outlet Shoppes at Laredo. Once complete, the 358,000-square-foot project will be the only outlet center within a 180-mile radius and the closest outlet center to the 4.5 million neighboring populace in Monterrey, Mexico. The project is under construction with a grand opening slated for spring 2017. CBL and Horizon are co-developing the project with Horizon responsible for leasing and management. The Outlet Shoppes at Laredo is nearly 80 percent preleased to tenants including Michael Kors, Brooks Brothers, Banana Republic, Abercrombie & Fitch, Tommy Hilfiger, Puma and Fossil. The project is located off I-35 adjacent to a new customs bridge that provides direct access to the property.

May 11, 2016

New York Northeast Office

EmblemHealth Leases Build-to-Suit Office Building in Brooklyn

by Amy Works May 10, 2016

NEW YORK CITY — EmblemHealth has signed a 20-year lease for a build-to-suit office building at 101 Pennsylvania Ave. in the East New York section of Brooklyn. Atlantic 2644 LLC, the building owner, broke ground on the project for the nonprofit health plan in January. When completed in third quarter 2017, the new building will feature 75,000 square feet of medical office space and 90,000 square feet of structured parking. Designed by Array Architects, the seven-story building will feature a lobby and ambulatory care treatment facilities on the ground floor, parking for 153 cars on the second through fourth floors and medical office space on the fifth through seventh floors.

May 10, 2016

Illinois Industrial Midwest

Principle Construction Breaks Ground on 348,000 SF Industrial Expansion in Illinois for Winpak

by Christina Cannon May 10, 2016

SAUK VILLAGE, ILL. — Principle Construction Corp. has broken ground on a 348,000-square-foot industrial expansion in Sauk Village, approximately 30 miles south of Chicago. Winpak Portion Packaging Inc. occupies the existing 267,000-square-foot building and will occupy the new space as well. The expansion will include a 197,000-square-foot warehouse, 137,950-square-foot production area, an amenity area, maintenance storage, break room, washrooms, mechanical utility room, trucker’s room, shipping office and a plant grinding room. The facility, located at 1111 Winpak Way, will add a second rail spur, 12 storage silos, two new 4000 amp electrical services, 150 parking stalls, 25 trailer stalls, 20 truck dock loading doors and an exterior drive-in door. Winpak Portion Packaging is a manufacturer and distributer of packaging materials. In addition to constructing the expansion, Principle will also work on several upgrades to the older facility. Harris Architects will provide architectural services.

May 10, 2016

Retail Texas

Daiso Inks Inaugural Lease for 12-Store Rollout in Greater Houston

by Haisten Willis May 10, 2016

HOUSTON — Daiso California LLC has signed its first lease for retail space in the Houston area, where the company plans to open 12 stores in the next two years. Japan-based Daiso Industries Inc. designs and manufactures private-label products, offering more than 90,000 items ranging from $1.50 to $10 in its stores. Daiso has jump-started its push into Houston with a 10,998-square-foot lease in Mason Park Shopping Center at 501 S. Mason Road in Katy. Currently, five other leases are at various stages of negotiation. Heather Nguyen and John Nguyen of Houston-based NewQuest Properties are Daiso’s tenant representatives in Texas.

May 10, 2016

Restaurant Retail Texas

Malawi’s Pizza to Open First Location in Metro Houston

by Haisten Willis May 10, 2016

MISSOURI CITY, TEXAS — Malawi’s Pizza has leased 5,000 square feet of retail space at 8731 Highway 6 Center in Missouri City for its first Houston-area location. The center is located at Highway 6 and Sienna Parkway in Sienna Plantation, a master-planned development. Malawi’s Pizza plans to eventually open 22 restaurants in the greater Houston market. Doug Hermann, Edward Heap and Randy Hopper with The Weitzman Group handled negotiations as tenant representatives for the restaurant. The newly constructed center is shadow-anchored by H-E-B and serves the growing Sienna Plantation market. For each meal purchased at Malawi’s Pizza, the restaurant donates a meal to a child in Malawi, Africa.

May 10, 2016

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