CALIFORNIA AND WASHINGTON — CA Industrial, the dedicated industrial and logistics arm of CA Ventures, has unveiled plans for five new developments totaling $272 million in project costs for properties across the West Coast. The company plans to develop more than 670,000 square feet of industrial space across the markets, marking its entrance into California and Washington. CA Industrial will finance these development costs in part with capital from Centris Industrial, the external REIT for CA Industrial. The five California and Washington developments include: The repositioning and stabilization of a 58,991-square-foot building situated on nine acres at 1551 Atlantic St. in Union City, Calif. The project is in partnership with DWS. A partnership between CA Industrial, Four Stones Real Estate and American Realty Advisors will develop a 175,500-square-foot speculative facility in Watsonville, Calif. CA Industrial has partnered with a global asset manager to develop a 202,400-square-foot speculative facility in Richmond, Calif. Realterm and CA Industrial will develop a 132,300-square-foot Class A warehouse in La Puente, Calif. In partnership with Transwestern, the company will develop a 97,000-square-foot Class A warehouse on 20 acres in Covington, Wash.
ROUND ROCK, TEXAS — Seattle-based developer and operator Sabey Data Centers will develop a facility in the northern Austin suburb of Round Rock that will have the capacity to produce up to 72 megawatts of power. The two-building development will be situated on a 40-acre site and will be primarily marketed to hyperscale cloud users. Preliminary sitework is underway, and Sabey plans to break ground in June and to deliver the facility in the first quarter of 2023.
JACKSONVILLE, FLA. — Kansas City-based VanTrust Real Estate LLC has broken ground on three industrial buildings at its Imeson Park South property in Jacksonville totaling approximately 1.7 million square feet. The three projects currently underway include a 200,000-square-foot build-to-suit building, one 547,200-square-foot speculative building on approximately 33 acres and a 1 million-square-foot building on about 63 acres. Building amenities at both speculative buildings include ample automobile, dock and trailer parking. Construction on all three buildings is expected to be complete by the second quarter of 2023. Located at 1511 Zoo Parkway, the property is situated 10.5 miles from Jacksonville International Airport and 3.1 miles from the Jacksonville Zoo. VanTrust purchased the 196-acre Imeson Park South property in October 2021.
SHORELINE, WASH. — CBRE has secured an $85.5 million construction loan for the development of Ion, a 252-unit apartment community in Shoreline. Bill Chiles, Scott Peterson and Morgon Fraser of CBRE’s Capital Markets Debt & Structured Finance team arranged the loan for AAA Management, the developer. Located at 345 NE 149th St., Ion will feature seven stories of residential space above three levels of subterranean parking with 241 parking spaces. Tenant amenities will include a fitness facility, rooftop deck and bike storage. Completion is slated for April 2024, with an opening scheduled for July 15, 2024.
FENTON, MO. — U.S. Capital Development has selected IMPACT Strategies to build two new speculative industrial buildings at Fenton Logistics Park in Fenton, a southwest suburb of St. Louis. Building 6A will span 125,000 square feet, while Building 6B will total 160,000 square feet. Completion of both buildings is slated for the fourth quarter of this year. IMPACT is also handling site development for earthwork, utilities, parking lots and landscaping. Fenton Logistics Park is the redevelopment of a former Chrysler plant that will span more than 2.5 million square feet upon full buildout.
BRISTOL, WIS. — Peak Construction Corp. is underway on a 1 million-square-foot speculative industrial building at Bristol Business Park in Bristol, about 40 miles south of Milwaukee. NorthPoint Development is the developer. Completion is slated for this November. The building will feature a clear height of 40 feet, 105 dock doors and four drive-in doors. The project team includes studioNorth Architecture and Manhard Consulting Ltd.
CHICAGO — Skender has completed a renovation of the interior office space for Equity LifeStyle Properties (ELS) at 2 N. Riverside Drive in Chicago’s West Loop. The renovation project updated the company’s 65,000-square-foot space across two-and-a-half floors and added a new roof deck. The office includes a mix of conference rooms, private offices, collaboration areas, cafés and pantries. Employees can work or socialize outdoors on the new roof deck. Skender collaborated with Partners by Design, McGuire Engineers, Structural Shop, Engineering Plus, CBRE and Spark Chicago. ELS owns and operates manufactured home communities, RV resorts, campgrounds and marinas.
SUMMERVILLE, S.C. — Indianapolis-based partners Citimark Inc. and Pure Development Inc., along with Charleston-based NCP Capital LLC, have plans to build Coastal Crossroads, a $200 million industrial project in Summerville. Coastal Crossroads will include more than 2.5 million square feet of new industrial distribution and manufacturing space. The project is a 180-acre master planned industrial park with speculative and build-to-suit opportunities. Additionally, about 1 million square feet of space will be available in early 2023 for leasing. Located on Strathmore Road along Interstate 26, the project will be situated within 30 miles or less of three South Carolina Ports Authority terminals. The industrial park will also be 21.1 miles from Charleston International Airport and about 20 miles from downtown Charleston. Bob Barrineau, Tim Raber and Brendan Redeyoff of CBRE will handle leasing and marketing efforts for Coastal Crossroads.
KERNERSVILLE, N.C. — NorthPoint Development has broken ground on Piedmont Commerce Center, a 1.5 million-square-foot industrial park in Kernersville, about 10.6 miles from Winston-Salem. Construction is slated to be complete between the fourth quarter of 2022 and the first quarter of 2023. The expected development cost is $129 million. Piedmont Commerce Center will be a four-building industrial park located at Macy Grove Road and Salem Parkway. The buildings will range from 246,489 square feet to 669,081 square feet. The project will bring 800 full-time jobs to the area, according to NorthPoint. NAI Piedmont Triad is handling the marketing and leasing for Piedmont Commerce Center.
FORT WORTH, TEXAS — A partnership between Phoenix-based developer Creation Real Estate and J.P. Morgan Global Alternatives has broken ground on a 532,535-square-foot industrial project in Fort Worth. The site is located just off Interstate 820 and offers high visibility from that loop. The development will consist of three buildings — two rear-load and one front-load — with clear heights ranging from 32 to 36 feet. LGE Design Build is the architect and general contractor for the project. Holt Lunsford Commercial has been tapped as the leasing agent. Completion is slated for the second quarter of 2023.