KINGSTON, MASS. — Trammell Crow Residential has opened Alexan Kingston, a 282-unit apartment community in Kingston, about 35 miles south of Boston. The property features one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, private workspaces, conference rooms, an event room, outdoor grilling areas and Amazon package lockers. Syracuse-based Pyramid Management Group is managing the property. The first move-ins began in June. Rents start at $2,350 per month for a one-bedroom unit.
STURTEVANT, WIS. — Ashley Capital has broken ground on two new speculative industrial buildings at Enterprise Business Park in Sturtevant, a southern suburb of Milwaukee. Buildings V and VI will each span 390,000 square feet and are slated for completion in the first quarter of 2023. Ashley is also renovating Building IV and expects to have it available for occupancy by the end of this summer. Upon full buildout, Enterprise Business Park will comprise six buildings totaling more than 2.1 million square feet. Current tenants include CNH, Fresenius, Andis and Ryder Logistics. Terence McMahon and Cody Ziegler of Cushman & Wakefield/Boerke Co., along with John Sharpe and Tom Boyle of Lee & Associates, are the leasing agents for the business park.
RENO, NEV. — Locus Development Group is constructing McCarran Business Park, a two-building Class A industrial/flex property in Reno. Slated for delivery in second-quarter 2023, McCarran Business Park will feature two 50,450-square-foot buildings with suites divisible to 6,250 square feet. Each building will offer high-visibility showroom and office space. Each suite will include a tenant allowance for a build-to-suit office/showroom and warehouse space with 24-foot clear heights, 12-foot by 14-foot grade-level motorized overhead doors and motion-sensor LED lighting. Construction is scheduled to begin this month, with Metcalf Builders serving as general contractor. Joel Fountain, Nick Knecht and Baker Krukow of Dickson Commercial Group’s industrial team will represent Locus Development on all leasing operations.
MARIETTA, GA. — North American Properties (NAP) has gained unanimous approval from the Cobb County Board of Commissioners for its redevelopment plan of the Avenue East Cobb, an open-air shopping center located in the northeast Atlanta suburb of Marietta. Plans call for a portion of the central building near Kale Me Crazy to be demolished to make way for an 8,000-square-foot area called The Plaza that will be surrounded by restaurants with patios. The Plaza will feature a covered, raised stage for performances; an LED screen for broadcasting live events; and a deck with soft, flexible seating. Connected to The Plaza will be a 500-square-foot concierge building with optional valet that will be offered seasonally and during large-scale events. Two 2,500-square-foot, standalone retail and restaurant buildings will also be constructed adjacent to the concierge station. Additionally, NAP has secured new leases with Warby Parker, New York Butcher Shoppe and Tempur-Pedic, as well as a Kendra Scott pop-up and Vanilla Café. The Cincinnati-based developer will begin the permitting process immediately with plans to host a public groundbreaking celebration later this fall. NAP is partnering with PGIM Real Estate for the redevelopment of Avenue East Cobb, which Atlanta-based Cousins Properties opened in …
KNOXVILLE, TENN. — Four Stones Real Estate has begun construction on Phase II of Kern’s Bakery, a 16-acre mixed-use redevelopment of a former bakery of the same name in Knoxville. The second phase will redevelop a historic 75,000-square-foot building into a food hall, market, offices, rooftop bars and outdoor gathering spaces. Tenants announced include Flourish Flowers, Archer Paper Goods, F45, Mae Lee’s Boutique and Drop Zone Distilling, as well as an 18-merchant food hall that will include coffee, Italian, Southern and breakfast purveyors, among others. The second phase will also include multiple bars, stages, gathering spaces, a dog park and direct access to the proposed G&O Railway track. The project team behind Kern’s Bakery include Timothy Matin of TMA Real Estate; project designer Joey Staats of Knoxville’s Johnson Architecture; civil engineers Fulghum, MacIndoe and Associates; and project manager Jaron Dowalter of BurWil Construction Co. Phase I was the 310-unit Flagship Kerns apartment community, which is now open and fully occupied, and Phase III is still in the design phase.
FORT LAUDERDALE, FLA. — Bank OZK and JVP Management have provided $97.2 million in construction financing for the development of One River, a 34-story apartment tower located at 629 SE 5th Ave. in Fort Lauderdale. Keith Kurland of Walker & Dunlop arranged the financing, which comprises a senior loan from Bank OZK and a mezzanine loan from JVP Management, on behalf of the developers, OKO Group and Cain International. The co-developers have also recently topped off 830 Brickell, a 55-story office tower in Miami. Designed by Adrian Smith + Gordon Gill Architecture and architect of record Dorsky + Yue International, One River will feature 251 high-end apartments and 2,600 square feet of ground-level retail space. Amenities will include a resort-style rooftop pool deck; fitness center with yoga, spinning and Pilates rooms; spa with sauna and steam facilities; outdoor fitness deck and barbecue terrace; lounges for gaming and coworking; package room; bike storage; and a dog spa. OKO and Cain plan to begin vertical construction this summer and deliver the property in September 2024.
ATLANTA — Lalani Ventures has signed Atlanta Brewing Co., a pioneer of the craft beer movement in the Southeast, to relocate from Atlanta’s West Midtown district to Underground Atlanta, a historic mixed-use redevelopment underway in south downtown Atlanta. The brewer was founded in 1993 with its first location off Williams Street in Midtown, before moving to its current location in 2007. The brewer will relocate again to Underground Atlanta and operate a new indoor/outdoor taproom, brewery and restaurant along Upper Alabama Street. The 8,600-square-foot location, which was once the Atlanta Visitors Center, is set to open before the end of the year and will feature a rotation of guest chefs, ping pong tables, a canning operation and roll-up garage doors. Additionally, the taproom will offer 20 beer selections and self-pouring taps throughout the space. Lalani Ventures has previously secured leases at Underground Atlanta with Fulton County’s Public Arts Future Lab, an artist residency funded by Microsoft; MARTA Artbound, MARTA’s public art program; Arts & Entertainment Atlanta; YELLE Beauty, a black woman-owned and operated beauty concept by Yandy Smith-Harris; Dancing Crepes, a new dining concept also by Smith-Harris; dolo’s pizza company, a pizza concept by Alyson Williams and Yusef Walker; and …
BELLWOOD, ILL. — Evergreen Real Estate Group has broken ground on Bellwood Senior Apartments, an 80-unit affordable seniors housing community in the western Chicago suburb of Bellwood. The $30 million project will replace a former Walgreens with a four-story, 73,228-square-foot residential building. Operated by Evergreen’s in-house management team, Bellwood Senior Apartments will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors age 62 or older, with incomes at or below 60 percent of the area median income. Evergreen will begin accepting applications for the apartments in spring 2023, with completion scheduled for mid-2023. Weese Langley Weese Architects designed the project, which is located near a Metra station, shops, restaurants and other businesses. FH Paschen is the general contractor. Financial partners for Bellwood Senior Apartments include the Illinois Housing Development Authority as the tax credit issuer (both low-income housing tax credits and Illinois affordable housing tax credits) and subordinate funds provider; the Village of Bellwood, which provided incentives and a loan; Bank of America, which is the investor and construction loan lender; Hudson Housing Capital, which syndicated the tax credits; and Cook County, which is providing HOME funds.
DENVER — Phoenix-based ViaWest Group is entering the Denver market with plans to develop Downtown Distribution Center, a freestanding, Class A industrial building at 5601 Franklin St. in Denver. Situated on 9.32 acres, the 134,400-square-foot building is slated for delivery in second-quarter 2023. The property will feature modern design with 32-foot clear heights, 28 dock-high doors, two drive-in doors, heavy power, ESFR sprinklers, ample trailer and auto parking, clerestory windows and Class A office space. Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield brokered the sale of the land to ViaWest and will handle leasing of the new project.
FAIRFIELD, CONN. — New Jersey-based developer Accurate has acquired a mixed-use development site located adjacent to the Metro North train station in the southern coastal community of Fairfield. The 24-acre site, which has been branded The Crossings at Metro Station, is fully approved for 357 multifamily units, a 118-room hotel, 70,000 square feet of office space and 40,000 square feet of retail space. Louis Zuckerman, Patrick Colwell and Jeffrey Dunne of CBRE represented the seller of the site, Blackrock Realty LLC, in the land transaction while also procuring Accurate as the buyer. Construction could begin as early as the end of July or the beginning of August.