Development Magazine Winter 2016/2017

Development - Ownership

New & Noteworthy

5 million sq. ft.

FivePoint Holdings has named Cushman & Wakefield the leasing agent for approximately 5 million square feet of commercial space being developed in the second phase of development at The San Francisco Shipyard, a multi-billion dollar waterfront community along the city’s southeastern shoreline. The project is one of the largest urban redevelopment efforts on the West Coast. The leasing team will be targeting life science, research and development and other innovative office occupiers as well as restaurants and retailers. The commercial tenants will occupy new and reclaimed heritage buildings set among acres of public space and residences, beginning in early 2017.

CityLine mixed use project

500,000 sq. ft.

KDC has completed the fourth office tower at its 186-acre CityLine mixed-use project in Richardson, Texas. State Farm employees began moving into the 500,000-square-foot facility in October 2016; the company now occupies 2.1 million square feet of office space at CityLine. The 12-story Four CityLine is set above a five-level parking structure with approximately 30,000 square feet of ground-floor retail space. At full build-out, CityLine will contain 5 million square feet of office space as well as almost 4,000 residential units, more than 60 dining and retail establishments, two hotels and two parks.

urban office campus Portland OR

300,000 sq. ft.

Field Office, an urban office campus being developed on a 2.3-acre site in Portland, Oregon’s Frontside District by Project^ and National Real Estate Advisors, will offer large, open office floor plates with abundant natural light and fresh air as well as event and conference facilities. Retail amenities will include a cafe and ground-floor shops. Designed with a focus on sustainable features — including outdoor workspaces, green areas within each tenant space and a commuter lounge with showers and lockers — Field Office will also be a pet-friendly workplace. The 300,000-square-foot project is scheduled for completion in the fourth quarter of 2017.

office tower Indianapolis

201,000 sq. ft.

Onward Investors is renovating the historic 130 East Washington office tower in downtown Indianapolis. The 12-story building was originally designed as a bank in 1922 and was later enlarged for the Farm Bureau Insurance Co. Onward is working with Ratio Architects and Charles C. Brandt Construction Co. to restore the building’s historic elegance and midcentury modern design while providing creative office space featuring exposed ceilings, polished concrete floors, more daylight, open floor plans and 16,790-square-foot floor plates. Construction is underway and is expected to be completed in May 2017.

packing and cold storage facility

152,200 sq. ft.

Dermody Properties is developing a 152,200-square-foot, build-to-suit packing and cold storage facility for UNIVEG Logistics America, which will change its name to Greenyard Logistics USA upon completion of the new facility. The facility, which will quadruple the company’s current capacity, will be located in LogistiCenter at Logan, a 5.5 million-square-foot, 1,100-acre industrial park in southern New Jersey owned by Dermody and Great Point Investors LLC.

Industry RiNo Station Denver

146,000 sq. ft.

Clarion Partners, in partnership with Industry Denver, is developing Industry RiNo Station, a creative office building in the River North (RiNo) submarket of downtown Denver. The project will transform an existing industrial structure into an almost 146,000-square-foot innovative multitenant office building. Tenants will have private office space as well as access to shared amenities that will include kitchen areas, conference and event spaces, training and meeting rooms and a cafe. The building is near a newly opened light rail station, allowing easy access to the Union Station transit hub and Denver International Airport. The approximately $58 million project is expected to be completed in late 2017.

LGE Design Build TYR Tactical

76,000 sq. ft.

LGE Design Build has begun construction of a headquarters and manufacturing building for TYR Tactical — a manufacturer of body armor, clothing and other gear for law enforcement — in Peoria, Arizona. In addition to manufacturing facilities, the 76,000-square-foot building will feature office space, a showroom and a storefront where police officers will be able to try on and order custom products, which will then be manufactured on site within a few days. Completion is expected in mid-2017.

creative office campus

50,000 sq. ft.

RAF Pacifica Group plans to build the first ground-up creative office campus in North San Diego County since 2008. The approximately 50,000-square-foot project, in·sti·gate, will be set on 4.43 acres of land in Carlsbad and will feature loft-style buildings set in a communal quad atmosphere with resort-style amenities, including rooftop decks, a fitness center, indoor/outdoor meeting spaces, restaurants and barbecue areas. The project is expected to break ground in August 2017.

church redevelopment

221 units

High Street Residential, the residential subsidiary of Trammell Crow Company, and CSG Urban Partners are working with Meadow Partners to redevelop the St. Matthew’s Evangelical Lutheran Church site in Washington, D.C. The mixed-use project will contain 221 multifamily rental apartments along with a new 16,000-square-foot church and community center. It will include a rooftop pool as well as a dog run, a fitness center and a bike storage and maintenance room. The new church and community center will feature a large fellowship hall, a coffee shop, a multiuse worship space and an art gallery. Construction began in fall 2016 and is expected to be completed in the third quarter of 2018.

luxury senior living community

168 units

Guttman Properties and Civitas Senior Living are developing The Grand of Prospect, a luxury senior living community set on 14.8 acres in Louisville, Kentucky. The $20 million project will feature 168 apartments, including independent lifestyle units as well as assisted living and memory care suites. Amenities will include indoor and outdoor dining options, a massage room, a theater room and a playground for families and neighbors. Construction is scheduled to begin by the end of 2016, with completion expected in the first quarter of 2018.

From the Archives: Development Ownership Articles from the Previous Issue

Thompson hotel exterior

Touchstone: Small Team Big Impact 

This year’s award winner — which prides itself on creating shared value for owners, tenants and the community — developed more than 2 million square feet of space in 2015 with a staff of 10.

Method manufacturing facility

The Natural Capitalism Concept Comes to Industrial 

Method’s new soap factory in Chicago’s Pullman neighborhood has resulted in a more profitable, localized supply chain