development2

Principle Construction Completes Expansion, Renovation of Warehouse for CV-Tek in South Elgin, Illinois

by Kristin Harlow October 10, 2022

SOUTH ELGIN, ILL. — Principle Construction has completed an expansion and renovation project totaling 78,000 square feet for food packaging manufacturer CV-Tek in South Elgin. Middleby Cos. owns the building, which now features 56,000 square feet of warehouse space and 22,000 square feet of office space. The project also included new electrical distribution system for computerized manufacturing equipment, enhanced lighting, new flooring and roof upgrades. Cornerstone Architects provided architectural services. Principle completed the project in 16 weeks.

October 10, 2022

Development Mixed-Use South Carolina Southeast

Lancaster County Council Approves Phase II of RedStone Mixed-Use Development in Metro Charlotte

by John Nelson October 7, 2022

INDIAN LAND, S.C. — The Lancaster County Council has approved developer MPV Properties’ plans for the second phase of RedStone, a mixed-use development in the Charlotte suburb of Indian Land. Phase II will comprise 350 apartments, 20 townhomes and 24,000 square feet of retail space. Located at the intersection of U.S. Highways 521 and 160, the second phase will be situated adjacent to Phase I, a shopping center that opened in 2016 and includes 80,000 square feet of existing retail and restaurant space, as well as the RedStone 14 Cinemas. Between the two phases will be an event lawn that MPV plans to activate with live music, farmers markets and other public events. The developer has begun leasing the retail space at Phase II, which will break ground in fall 2023. Michael Bilodeau and Steve Vermillion of MPV Properties, along with Jason McArthur of Mission Properties, are leading the development of RedStone Phase II. Robbie Adams and Joey Morganthall of MPV Properties are responsible for retail leasing.

October 7, 2022

Development Industrial Texas

Volkswagen to Open $114M Importation Facility in Freeport, Texas

by Taylor Williams October 7, 2022

FREEPORT, TEXAS — Volkswagen Group of America will open a $114 million importation facility in Freeport, located south of Houston on the Texas coastline. The site spans 120 acres and represents a consolidation of the German automaker’s port operations in Houston and Midlothian. Volkswagen has entered into a 20-year ground lease with a partnership between the two developers leading the project, Washington, D.C.-based PRP and Dallas-based KDC. Construction is scheduled to begin before the end of the year, and the facility is expected to be operational in early 2024. JLL represented Volkswagen in its site selection process. Volkswagen anticipates that at full capacity, the facility will be able to handle as many as 140,000 vehicle imports per year, primarily from its production hubs in Mexico and Europe.

October 7, 2022

Affordable Housing Development Kansas Midwest Multifamily Seniors Housing

Rau Construction Completes Renovation of Affordable Seniors Housing Building in Kansas City

by Kristin Harlow October 7, 2022

KANSAS CITY, KAN. — Rau Construction has completed a significant renovation of Town House in downtown Kansas City. Formerly known as Cross Lines Tower, the property is now home to 130 units for seniors age 55 and older who earn between 30 and 60 percent of the area median income. The building originally opened in 1951 as a hotel and was converted into affordable housing in 1981. Amenities include a meeting room, tenant lounge, outdoor patio and garden area, community room and laundry facilities. UMB Bank provided $25.5 million in construction and equity bridge loans and, through Hunt Capital Partners, a $17.4 million low-income housing tax credit equity investment to fund and finance the $42 million project. KeyBank provided permanent financing. Additional financing partners included Commerce Bank, Kansas Housing Resource Corp., Kansas Development Finance Authority and the North East Economic Development Corp. The development team included Foutch Brothers as the architect, Hughes Development Co. and Tier 1 Development Group LLC as co-developers and Universal Management Inc. as property manager.

October 7, 2022

Palisade-Wild-Horse-Commerce-Center-McCarran-NV

Development Industrial Nevada Western

North Palisade Partners to Develop 141,882 SF Palisade Wild Horse Commerce Center Near Reno

by Amy Works October 6, 2022

MCCARRAN, NEV. — Los Angeles-based North Palisade Partners has purchased a 6.4-acre site in McCarran for the development of Palisade Wild Horse Commerce Center, a Class A industrial property. Located at 99 Wild Horse Canyon Drive within Tahoe Reno Industrial Center in McCarran, the 141,882-square-foot facility will feature 36-foot clear heights, more than 80 parking spaces, ESFR sprinklers, 18 dock-high loading positions, two grade-level doors, LED lighting and 2,000 amps of power with the ability to quickly expand power capabilities. The building will also be divisible to spaces of 90,000 square feet and 50,000 square feet. Completion is slated for mid-2024. Chris Fairchild of Colliers brokered the acquisition transaction.

October 6, 2022

Development Office Utah Western

St. John Properties Breaks Ground on 140,768 SF Office Building in Pleasant Grove, Utah

by Amy Works October 5, 2022

PLEASANT GROVE, UTAH — St. John Properties has broken ground for Valley Grove III, a five-story Class A office building in Pleasant Grove. Once complete, the facility will bring the company’s commercial real estate portfolio in Utah to more than 1 million square feet. The 140,768-square-foot property will be the 22nd building at St. John Properties’ Valley Grove, which includes office, flex/R&D, restaurant and retail space. St. John Properties first started development at Valley Grove in 2017.

October 5, 2022

Acquisitions Development Florida Mixed-Use Restaurant Retail Southeast

BSD Capital to Redevelop 148,857 SF Former Sears Department Store and Automotive Center in Ocala, Florida

by John Nelson October 5, 2022

OCALA, FLA. — BSD Capital recently purchased a former Sears department store and Sears Automotive Center in Ocala spanning 148,857 square feet. An affiliate of Seritage Growth Properties, the spun-off REIT from Sears Holding Corp., sold the buildings at a private auction for $3.2 million. Louie Granteed of Tobin Real Estate represented BSD Capital in the acquisition and is leading leasing efforts for the new owner’s redevelopment that will convert the property to a retail and entertainment destination. Granteed says that prospective tenants for the redevelopment include grocers, big-box retailers and entertainment operators. Located on 12 acres near I-75, the former Sears once served as an anchor to Paddock Mall, an enclosed regional mall that is still open and operating with tenants including Belk, Macy’s, JCPenney and more than 90 specialty stores.

October 5, 2022

California Development Industrial Western

USAA, McDonald Property Group Break Ground on 1.8 MSF Distribution Facility in Beaumont, California

by Amy Works October 4, 2022

BEAUMONT, CALIF. — USAA Real Estate and McDonald Property Group has broken ground on a 1.8 million-square-foot distribution center in Beaumont for United Legwear & Apparel Co. (ULAC). Located at Phase II of the Crossroads Logistics Center, the building will be used to accommodate ULAC’s global design/manufacturing, marketing, sales and distribution. The facility will contain assembly, racking and material handling conveyor automation systems, as well as 30,000 square feet of office space. The development team includes HPA Architecture and Fullmer Construction Co. Luke McDaniel, Cameron Driscoll, Jeff Bellitti and Mac Hewett of JLL represented ULAC. David Consani, Jim Koenig, Darla Longo and Barbara Emmons of CBRE, along with Rick John of Daum, represented McDonald Property Group and USAA in the lease transaction, which was signed in July 2022.

October 4, 2022

Acquisitions California Development Mixed-Use Multifamily Restaurant Retail Western

Liberty National Buys Development Site in Downtown San Diego for SkyLine West Mixed-Use Tower

by Amy Works October 4, 2022

SAN DIEGO — Liberty National Corp. has acquired a 15,000-square-foot site at the corner of Fourth Avenue and Ash Street in downtown San Diego from Nellis Corp. for an undisclosed price. Liberty plans to develop SkyLine West, a mixed-use tower with residential, retail and restaurant space, on the site. The 37-story tower will offer more than 250 apartments in one-, two- and three-bedroom designs, ranging from 550 square feet to 1,600 square feet. Residences will feature energy-efficient appliances, private balconies and high-end finishes. On-site amenities will include a fitness center, swimming pool, spa, lounge, conference rooms, business center, library, pet grooming room and billiards. Additionally, the development will feature sustainable components and be built using LEED standards. The company plans to submit development plans to the City of San Diego by summer 2023, with construction commencement scheduled for summer 2024.

October 4, 2022

Development Georgia Leasing Activity Mixed-Use Southeast

Judge Commercial Adds Six New Tenants at West Broad Redevelopment Project in Savannah

by John Nelson October 4, 2022

SAVANNAH, GA. — Judge Commercial has welcomed six new commercial tenants at West Broad, a mixed-use redevelopment of the historic 300 block of Martin Luther King Jr. Boulevard in west Savannah. The new tenants include Savannah Square Pops, Origin Coffee Bar, Chewning Interiors, AMPT-Savannah, Smithereens and National Marine Sanctuary Foundation. Existing tenants at West Broad include Forsight Eye Care, Rethink Design and Sweet Peach Cosmetic Tattoo. West Broad’s first floor is fully leased and there are commercial and coworking spaces available for lease on the second and third floors, according to Judge Commercial. The 300 block was originally constructed between 1910 and 1922 and housed the landmark Thrifty Supply Center hardware store for 60 years. Urban design and civic architecture firm Sottile and Sottile oversaw the redesign of the four-story, 60,000-square-foot adaptive reuse project.

October 4, 2022

Newer Posts

Older Posts