COVINGTON, GA. — Landmark Properties and ACRE have delivered The Cove at Covington Town Center, a 350-unit apartment community within the 131-acre Covington Town Center master-planned development. The property manager, Charleston-based Greystar, has begun leasing the metro Atlanta community for rents ranging between $1,285 and $3,035 per month, according to the property website. Situated at 12301 Town Center Blvd. in Covington, The Cove features a mix of one-, two- and three-bedroom floor plans ranging between 620 and 1,945 square feet. Amenities include a clubhouse, resort-style pool, coworking spaces, fitness center, linear park, dog park and a pet spa. Each unit includes washers and dryers, modern lighting fixtures and quartz countertops.
COLUMBUS, OHIO — CT Realty is underway on the construction of Phase II of Rickenbacker Logistics Park in Columbus. Phase II consists of three speculative buildings, including a 1 million-square-foot facility, a 598,754-square-foot building and a 413,250-square-foot facility. Each building will feature a clear height of 40 feet. Dan Wendorf and Brian Marsh of JLL are marketing Phase II for lease. Phase I consisted of two buildings that are now occupied by TJX and Geodis.
ALTOONA, IOWA — Endeavor Development has broken ground on the first phase of its I-80 Distribution Center located at 451 9th St. in Altoona. Completion of the 300,000-square-foot building is slated for the first quarter of 2023. Upon full buildout of the three phases, the speculative project will span 900,000 square feet. JLL is leading the leasing efforts, and JLL’s David Berglund, Colin Ryan and Scott Loving arranged debt and equity. Endeavor is a Minneapolis-based developer, owner and manager.
PHOENIX — Phoenix-based George Oliver has purchased Biltmore Commerce Center, a landmark office building in Phoenix’s Camelback Corridor. A joint venture between Lincoln Property Co. and Oaktree Capital Management sold the asset for an undisclosed price. Located at 3200 E. Camelback Road, the 260,878-square-foot Biltmore Commerce Center features a three-story central atrium, large floorplates, multiple common areas and outdoor amenity spaces, conference facilities and a bronze-colored metal building exterior. George Oliver will deploy more than $52 million in capital improvements at the three-story building. George Oliver Design leads the architectural team. Ryan Timpani of JLL wills serve as the project’s leasing broker, while Arcadia Management Group will serve as the onsite property manager. Ben Geelan and Will Mast of JLL represented the sellers in the deal.
KENNESAW AND CALHOUN, GA. — Lincoln Property Co. Southeast (LPC Southeast) has acquired land in the northwest Atlanta suburbs of Kennesaw and Calhoun to build two new industrial developments totaling 800,000 square feet. The development in Calhoun, a 400,000-square-foot industrial facility on Belwood Road just off I-75, will break ground in the third quarter and deliver in summer 2023. In Kennesaw, LPC Southeast has purchased a 175,000-square-foot facility and additional land directly off I-75 and a quarter-mile from Kennesaw State University. The land can accommodate up to 400,000 square feet of additional development. No construction timeline was given for the Kennesaw project. LPC Southeast’s Turner Fortin and Colin Beecham will oversee construction, marketing and leasing of both buildings.
JACKSONVILLE, FLA. — Presidium plans to break ground on Presidium Regal Apartments, a 334-unit multifamily community located at 14051 Beach Blvd. in Jacksonville. The gated community will be situated on a 15-acre site that once housed a Regal Cinemas theater. Designed by Atlanta-based Dwell Design Studio, apartments will feature stainless steel appliances, quartz countertops, private balconies, smart lighting and lock systems, Ecobee thermostats and built-in Alexa capabilities. Amenities at Presidium Regal will include a zero-edge pool with grilling stations, cabanas and outdoor fireplaces with lounges. The clubhouse and leasing office will include a fitness center, game lounge, golf simulator, coworking spaces, podcast rooms and a rooftop lounging deck. Other amenities will include an onsite car wash, juice and java bar and a dog park and spa. Presidium expects to deliver the property, which represents the firm’s fourth multifamily community in the Jacksonville market, in late 2023.
BRANSON, MO. — Drever Partners has opened The Penleigh – Branson Row, a 324-unit workforce housing property in Branson. The project consisted of the conversion of the former Angel Inn – by the Strip hotel, which Drever Partners acquired. The property offers micro apartment units along with a resident lounge, fitness center, onsite laundry facilities, playground and pool. Monthly rents start at $700. Residents can receive a $25 discount each month for early payment.
ST. CLOUD, FLA. — Alliance Residential has opened Prose Stevens Pointe, a 264-unit apartment community located at 3010 Camber Drive in St. Cloud. The Central Florida property features one- and two-bedroom apartments that range in size from 835 to 1,180 square feet, and monthly lease rates range from $1,500 to $1,845 per month. Units feature kitchens with white shaker-style cabinets, satin nickel hardware, granite countertops, entertainment islands, pantries and Whirlpool stainless steel appliances. All bedrooms have walk-in closets, and all bathrooms feature linen pantries. All units also include entry/coat closets, washer and dryer closets with appliances and wood-style plank flooring throughout. Amenities include a pool with sunshelves, chaise lounges, grilling stations, a dog park with a pet washing station, catering kitchen, entertainment lounge, business center with coworking spaces, fitness center and concierge services provided by Parcel Pending.
BOSTON — German pharmaceutical giant Bayer has opened a $140 million research and innovation center within Kendall Square, located on the Boston-Cambridge border. About 100 employees will work at the two-story, 61,200-square-foot facility, which houses a molecular oncology research center with labs and offices. In addition, the center employs a newly established research team focused on leveraging chemical biology techniques to further propel the company’s oncology drug development process.
LOUISVILLE, KY. — Skilken Gold has broken ground on Terra Crossing, a shopping center located on 10 acres at 2500 Terra Crossing Blvd. in Louisville. The grocery anchor, a 55,071-square-foot Publix, represents the first Publix location in Kentucky, the Lakeland, Fla.-based grocer’s eighth state of operation. The adjacent 3,200-square-foot Publix Liquors store at Terra Crossing is also the first location outside the state of Florida. Publix plans to open a second Publix grocery store and Publix Liquors store in Louisville in early 2024 at the northeast corner of Ballardsville and Brownsboro roads. In addition to the Terra Crossing groundbreaking, Publix announced it has signed a lease to anchor The Fountains at Palomar shopping center in Lexington, marking the third location announced in Kentucky for Publix. The 55,701-square-foot Publix store and 3,200-square-foot Publix Liquors store are set to open in late 2024.