JACKSONVILLE, FLA. — Birmingham, Ala.-based Graham & Co. has purchased 21 acres in Jacksonville’s Westside submarket for the development of a two-building, 250,800-square-foot warehouse and distribution center project. Named after its location, W. 12th/Edgewood Logistics Center is slated to break ground in early 2023 and wrap up construction by the end of the year. Equity partners in the deal include private equity firm Graham Capital and a local investment group led by Sam Easton. The industrial facilities will feature 32-foot clear heights, ESFR sprinklers and a concrete tilt-wall construction and can accommodate tenants from 25,000 square feet to full-building occupiers, according to Graham & Co. The project team includes The Conlan Co. and Randall-Paulson Architects as the project’s design/build team, and England-Thims & Miller will serve as the civil engineer. SouthState Bank is providing construction financing. Mark Scott, John Cole and Andrew Hawkins of Foundry Commercial will market the property for lease. The land acquisition marks the third transaction by Graham & Co. in Jacksonville’s Westside submarket since 2021.
ELGIN, ILL. — PANCOR has begun construction of the new $20 million headquarters for Maybach International Group in Elgin. The 62,000-square-foot project will be situated on 12 acres at 1384 Madeline Lane. Completion is slated for 2023. Plans call for roughly 47,000 square feet of warehouse and repair space and 15,000 square feet of office space. The building will feature a clear height of 24 feet, 28 docks, 10 drive-in door docks, 57 car parking spaces and 206 trailer parking spaces. Maybach is a logistics company currently based in Alsip. Kelly Disser and Mike Freitag of NAI Hiffman assisted Maybach in the site selection process. The duo consulted on the facility’s design, construction timeline and budget alongside Peter Kenny, director of project services with Hiffman National.
GEORGETOWN, TEXAS — GAF Energy, a San Jose, Calif.-based provider of solar roofing products, will open a 450,000-square-foot manufacturing plant in the northern Austin suburb of Georgetown. The facility is expected to add about 260 new jobs to the local economy. According to Hello Georgetown, construction is underway and expected to be complete in summer 2023, with the plant becoming fully operational by the end of that year. The local news outlet also reports that Atlanta-based Portman Industrial is leading the development of the facility in conjunction with design-build firm ARCO/Murray. In announcing the project, GAF executives cited Georgetown’s rapid population growth as a driver of a strong labor pool, as well as the city’s track record on green energy initiatives.
PLAIN CITY, OHIO — Coastal Ridge Real Estate has unveiled plans to build 230 build-to-rent homes at Jerome Village, a master-planned community developed by Nationwide Realty Investors in Plain City, a northwest suburb of Columbus. The project will be developed under Coastal Ridge’s Stillwell brand, which launched earlier this year with build-to-rent communities in Florida and Texas. A joint venture partnership between Coastal Ridge and Halstatt Real Estate Partners is developing Stillwell Jerome, completion of which is slated for 2023. Columbus-based Hallmark Construction is the general contractor. Stillwell Jerome will feature one-, two- and three-bedroom homes with first-floor private entries and individual backyards. Residents will have access to a pool, clubhouse, walking trails, outdoor seating areas and a fitness center.
PACIFIC, WASH. — Gantry has secured a $18 million construction-to-permanent loan for the speculative development of an industrial property in Pacific. Situated on 12 acres, the property will feature 160,000 square feet of industrial space. Construction began in second-quarter 2022 and completion is slated for early 2023. Mike Wood and Alex Saunders of Gantry arranged the financing for the borrower, Davis Property Investment. A regional bank provided the seven-year loan with a fixed, sub-4.4 percent interest rate. The financing features an initial two-year interest-only payment period before moving to a 30-year amortization for the remaining term. The initial funding is for $15 million to complete construction, with an additional $3 million earn-out upon lease up and stabilization of the project.
ORLANDO, FLA. — Trinitas Ventures, a multifamily and mixed-use developer based in Lafayette, Ind., has received $67.3 million in construction financing for a 286-unit, 750-bed student housing development located near the University of Central Florida campus in Orlando. Citizens Financial Group’s commercial real estate finance team is acting as the sole lead arranger, book runner and administrative agent for the financing. Further details of the project were not disclosed. Citizens has also financed Trinitas student housing projects at Miami University in Ohio, Washington State University and University of Nebraska.
FORT WORTH, TEXAS — Arizona-based developer Empire Group of Cos. has acquired 48 acres near North Riverside Drive and Golden Triangle Boulevard in Fort Worth for the construction of a build-to-rent residential project. Empire plans to develop Village at Golden Triangle, which will comprise 323 homes on 30 acres, and sell the remaining 18 acres, which are zoned for office and/or retail development. Homes will come in a mix of one-, two- and three-bedroom formats with private backyards, and residential amenities will include a pool, outdoor grilling areas, a fitness center, walking paths, community clubhouse and a dog park. Construction is set to begin in the first quarter of 2023. Details of the commercial component were not disclosed. Empire Group acquired the land for $16 million.
GAINESVILLE, FLA. — Greystone has arranged $52.6 million in debt and equity construction financing for Discovery Place at Celebration Pointe in Gainesville. Upon completion, the seniors housing community will feature 180 units and a high-end amenity package, according to Greystone. The type of care was not disclosed. Cary Tremper and Matt Miller of Greystone originated the transaction on behalf of the borrower, Bonita Springs, Fla.-based Discovery Senior Living. Discovery Place will serve as an anchor at Celebration Pointe, a 1.5 million-square-foot mixed-use project along I-75 that features Regal Cinemas, Bass Pro Shops, Dave & Buster’s, offices, apartments and several stores and restaurants. Built by Celebration Pointe Holdings and RaCo Real Estate Advisors, Phase II of Celebration Pointe will feature a 142,000-square-foot events center that is sanctioned by the NCAA to host athletic and scholastic events.
ATLANTA — SJC Ventures has signed several new tenants to join Phase II of The Interlock, a $750 million mixed-use development underway in Atlanta’s West Midtown district. New concepts joining include Starbucks, Kura Revolving Sushi Bar, Salon Lofts and Five Guys. SJC Ventures expects to announce a new round of tenants in the near future. In addition to the newly announced restaurants and salon, the second phase of The Interlock will be anchored by a 42,000-square-foot Publix grocery store, 670 student housing units for Georgia Tech students, 275,000 square feet of commercial space and limited restaurant opportunities. Construction on Phase II began in May 2021, and SJC Ventures plans to fully open the second phase in 2024. Phase II of The Interlock will be connected to Phase I, which is anchored by a Puttshack, the Bellyard hotel and Rooftop L.O.A., via a one-acre public park.
LOGANSPORT, IND. — Chicago-based Park Development has unveiled plans to redevelop the vacant Logansport Mall in central Indiana into an open-air retail center named The Junction. Built in 1968, the mall has sat largely vacant for the past decade. Design plans by GEA Architects call for nearly 160,000 square feet of retail space along with three outlots. The Junction is shadow anchored by a Walmart Supercenter and Home Depot. Existing tenants Dollar Tree and Dunham’s Sports will also remain. Planet Fitness opened a new location last spring, Harbor Freight Tools is slated to open in January and a Home2 Suites hotel is scheduled to open this fall. Randall, Miller & Associates will serve as project engineer, and Lee & Associates will market the property for lease. A timeline for completion was not provided. Park Development also plans to build a single-family housing project less than a mile from The Junction. Dubbed Lexington Village, the community will consist of 52 homes ranging in size from 900 to 3,000 square feet.