S.R. Clarke Construction / Real Estate Development / Architecture / Engineering Blog






Monday, January 5, 2009

Demolition Underway For Presidio Project

http://www.globest.com

"Forest City Enterprises is spending the next few months tearing down the non-historic “wings” of a former hospital complex here as it prepares to renovate its historic core and add space en route to a 161-unit rental community. The former Public Health Service Hospital is located at the foot of the Golden Gate Bridge within the Presidio, a sprawling former army base that has been under redevelopment for more than a decade.
Forest City landed $67.5 million in construction financing for the estimated $108-million project in November, 18 months after it signed the related development agreement with the Presidio Trust. The demolition, which began in December, will take four months to complete. Completion of the renovation and new construction is slated for late 2010. Forest City hopes to achieve LEED-Gold certification for the project from the US Green Building Council."

posted by S.R. Clarke

Vornado Seeking Zoning Change For New York City Tower

http://www.crainsnewyork.com/

"Vornado Realty Trust filed an application to rezone the site of Hotel Pennsylvania, paving the way for it to be demolished so an office tower of up to 2.85 million square feet can be constructed.
In documents filed with the Department of City Planning, Vornado said it wants the site on Seventh Avenue and 33rd Street rezoned so it can build a single-tenant building of up to 2.85 million square feet or a multi-tenant tower of up to 2.6 million square feet.
Vornado filed what are called scoping documents with the city but has not officially requested that the formal seven-month process to change the zoning begin. Without the zoning change, Vornado could only build an office tower of up to 1.6 million square feet."

posted by S.R. Clarke

Wednesday, December 31, 2008

Atlanta Apartment Complex Sells

http://www.globest.com/

"Locally based Post Properties has sold its 206-unit Post Lenox Park apartment community to a Steven D. Bell & Co.-sponsored ownership group for $22.7 million. The property at 100 Lenox Park Circle is expected to bring a gain of $12 million to Post, which owns 21,190 apartment homes in 58 communities. CB Richard Ellis represented the seller in the transaction and worked to secure $17.5 million of financing through Freddie Mac for the buyer.
Lenox Park, built in 1995 in the affluent Buckhead area of Atlanta, is 90% occupied with average rental rates of $1,100 per month, says Nickolay Bochilo, vice president with Steven D. Bell & Co. The property consists of six three-story buildings as well as a clubhouse, swimming pool, fitness center, business center, lighted tennis court, laundry center, lake and two parking garages containing 11 detached garages. “Challenges in capital markets had a positive impact on our ability to attractively structure the transaction from the debt and equity standpoint,” explains Bochilo."

posted by S.R. Clarke

Monday, December 29, 2008

Turnberry Apartments Sell

http://www.bizjournals.com/

"Pilgrim Partners LLC has bought the Turnberry at Heather Ridge golf course apartments in Aurora for $15.1 million, a little less than the $15.9 million asking price in the sales brochure.

The seller was Fairfield Residential LLC of San Diego, Calif., as Fairfield Duck Creek LP. Fairfield still owns roughly a dozen apartment properties in metro Denver, including Deer Crest in Broomfield, Ridgemoor in Lakewood and Talavera in Denver’s Cherry Creek neighborhood."

posted by S.R. Clarke

Wednesday, December 24, 2008

Costco Likely Coming To South-Side Tuscon

http://www.azstarnet.com/

"A Costco "big-box" store is likely coming to Tucson's South Side next summer as an anchor to the UA biosciences park and mixed-use development at East 36th Street and South Kino Parkway.
Costco Wholesale has agreed to buy 16 acres on the site from retail developer Eastbourne Investments Limited, said Frank Egan, Eastbourne's president. While the two parties are under contract for the deal, it probably won't close until summer after Costco does its due diligence and Eastbourne gets the site ready for construction."

posted by S.R. Clarke

Sea-Tac Rental Car Garage Project Suspended

http://www.bizjournals.com/

"Not able to find long-term bonds needed to pay for the facility, the Port of Seattle Commission voted to stop construction on the $400 million rental car garage project at Seattle-Tacoma International Airport.

General contractor Turner Construction Co. started work on the long-planned facility in July, just about the time that the bond market for such projects was tightening up,

In October, the commission voted to use $20 million in airport funds to keep the project moving, but on Tuesday, commissioners suspended the project for a year until financing can be found."

posted by S.R. Clarke

Monday, December 22, 2008

Beverage Warehouse Project Starts In Santa Rosa

http://www.pressdemocrat.com/

"A $20 million-plus beverage-distribution center is under construction near the Sonoma County airport.

What Mesa Beverage Co. Inc. expected would be a straightforward 18-month process to buy 19.5 acres designated in the county General Plan for industrial uses and build about 160,000 square feet of warehouse, distribution and vehicle maintenance facilities has stretched into its third year after two appeals of project approvals and five versions of the key environmental-review document."

posted by S.R. Clarke

Clark/Hunt Will Build Vegas Medical Center

http://www.acppubs.com/

"The United States Department of Veterans Affairs has awarded Clark Construction Group and joint venture partner Hunt Construction Group the contract for Phase IV of the VA Southern Nevada Healthcare System's new 150-acre medical campus.

This $364.9-million hospital project is the largest construction contract ever awarded by the VA and further develops Clark's relationship with this government agency. In early 2008, Clark completed Phase I of the project, which included work on the center's site infrastructure and a central plant, and Clark currently is working on Phase III, a design-build, 120-bed nursing home care unit.

Phase IV's scope of work includes building a seven-story, 790,000-square-foot medical center that will house a 90-bed inpatient care unit and a 20-bed mental health facility. The center will provide complete medical services. Integrated with the architecture of the adjacent nursing home, the medical center's design features a multi-tiered structure enclosed in glass curtain wall, ribbon and punched windows, masonry, and phenolic wall panels."

posted by S.R. Clarke

Friday, December 19, 2008

Walmart Construction In Raritan Township

http://www.nj.com/

" Construction has begun on the Walmart in Raritan Town Square, the 470,000-square-foot center being built on the site of the old Flemington Fairgrounds on Route 31. It will be the third Walmart in the county.

Ground was broken on the Walmart site last month, said

Joseph DeNivo, project manager for Garden Commercial Properties, the Short Hills developer building most of Raritan Town Square, said the foundation is being built and some of the "underground" has begun, he said, including the plumbing and some electrical work. Mr. DeNivo said Walmart has its own construction company that is handling the project."

posted by S.R. Clarke

Opus West Building Spec Industrial In Stockton

http://www.globest.com/

"Opus West this week will deliver the largest speculative industrial building available in Northern California as part of the 1.1-million-square-foot first phase of Opus Logistics Center. Slated to hold some eight million square feet in 13 buildings, the planned 474-acre development here is designed to serve as a global logistics supply center and distribution hub for importing and exporting products throughout the country.
The first phase includes two buildings, one 388,000 square feet and the other 736,000 square feet. Both of the new facilities include cross-dock loading areas, 32-foot clear heights, ESFR fire sprinklers and ample truck and trailer parking. Opus is marketing the larger of the two is the largest speculative industrial building available in Northern California. The triple-net asking lease rate is $0.35 per square foot per month. The lead listing broker is Blake Rasmussen, a Stockton-based SVP with CB Richard Ellis."

posted by S.R. Clarke

Hoar Construction To Build Mobile Museum

http://charlotte.bizjournals.com/

"Hoar Construction LLC’s program management division was hired to oversee construction of the $36 million National Maritime Museum of the Gulf of Mexico.

The city of Mobile hired the Birmingham-based general contractor for the project that will serve as the centerpiece of Mobile Landing, the city’s downtown riverfront development, said a news release."

posted by S.R. Clarke

Monday, December 15, 2008

MulvannyG2 Architecture To Design Private Jet Terminal

http://www.pnwlocalnews.com/

"Galvin Flying Services has chosen Bellevue’s MulvannyG2 Architecture to design a $40 million private business jet terminal at Boeing Field. The project known as Quad 7 is a 9-acre development which includes an executive terminal and seven hangars housing up to 25 private corporate jets for Seattle companies.

The 190,000 square foot complex is positioned south of Boeing Field’s King County Terminal on Perimeter Road and will be gated and monitored 24-hours a day."

posted by S.R. Clarke

Thursday, December 11, 2008

Harlem Office Tower Scrapped

http://www.globest.com/

"Vornado Realty Trust has scuttled plans to build a 630,000-square-foot office tower in Harlem that would have housed Major League Baseball’s cable television network, CFO Joseph Macnow said late Tuesday afternoon.
Speaking at the Wachovia Global Real Estate Securities Conference here, Macnow said, "We’ve shut down a couple of development projects. We were going to build the first office building in Harlem in 50 years on 125th Street and Park Avenue. We’ve shut that project down. The economics are not warranted today to do that job." Macnow also cited a mixed-use retail project in Boston that the Paramus, NJ-based REIT has canceled.

The Harlem Park project, announced in June 2007, was originally slated to contain 540,000 square feet of office and 90,000 square feet of retail on the first two floors. Jones Lang LaSalle was retained to handle office leasing. According to published reports, the cost of building the 21-story tower was estimated at $435 million."

posted by S.R. Clarke

Google Subletting Mountain View Property

http://www.bizjournals.com/

"Once the prime consumer of space on the Peninsula, Google now appears to be retreating from its days of torrid growth.

Three buildings located in Mountain View and leased during the past few years are now on the market for sublease. According to CB Richard Ellis Inc., each property contains 43,000 square feet and they are located at 2375 Garcia Ave., 2350 Bayshore Parkway and 1500 Salado Drive.

In addition to the Mountain View buildings, the search engine company never occupied the former Agilent Technologies Inc. building on 395 Page Mill Road in Palo Alto. The 225,000-squre-foot structure hit the market as sublease space earlier this fall."

posted by S.R. Clarke

Wednesday, December 10, 2008

Hyatt Regency McCormick Place Expansion Progressing

http://www.chicagotribune.com/

"The long-planned expansion of the Hyatt Regency McCormick Place moved ahead Tuesday with the hiring of a team to design and construct a second tower.

The Metropolitan Pier and Exposition Authority, which owns the hotel and the adjoining convention center, selected a group headed by Walsh Construction to add another 594 rooms at the 800-room hotel at a cost not to exceed $163.3 million.

posted by S.R. Clarke

Mountain View Housing Project Approved

http://www.mercurynews.com/
"The Mountain View City Council voted Tuesday to give the go-ahead to a major housing project several years in the making.

The Mayfield project approved by the council calls for the construction of 436 housing units, public parks, a pedestrian tunnel and a pool on a 21.2-acre site at 100 Mayfield Ave. The property, which is owned by Hewlett-Packard, was home to the Mayfield Mall.

Five acres of the project extend into Palo Alto. The Palo Alto City Council is slated to vote on the project in January. According to Douglas Aikins, an attorney for Hewlett-Packard, the plan is on track to be approved by the city.

Despite Tuesday's decision by the Mountain View council, it could be some time before ground is broken on the project. Toll Brothers Construction has been consulting with Hewlett-Packard on its development but opted not to buy the property, leaving the project without a developer. But according to Art Schultz, vice president of real estate for Hewlett-Packard, "the phone is ringing off the hook" with local and nationwide developers who are interested in it."

posted by S.R. Clarke

Department Of Defense Buys Alexandria Land

http://www.costar.com/

"The Department of Defense finalized the purchase of 16 acres from Duke Realty Corp. in Alexandria, VA, where it will build an office campus for use by the Army.

Located in Duke's Mark Center mixed-use campus, the parcel sold for $105 million, part of a total $950 million development agreement recently signed between Duke and the U.S. Army Corps of Engineers.

The Mark Center location won out as the future home of 6,400 Army employees, despite opposition by Northern Virginia officials concerned about traffic congestion. Duke plans to develop bus and shuttle connections to help offset the increase in congestion."

posted by S.R. Clarke

New Orlando Magic Arena Taking Shape

http://www.floridatoday.com/

"Center court or center stage, depending on your particular taste in entertainment, is graveled over and the risers that form the foundation of Central Florida's premier events center are darting out of the downtown Orlando dirt.

Just five months after an official groundbreaking that was filled with plenty of pomp and fireworks, the $380 million Orlando Events Center is starting to take shape with some real substance. About 1,500 concrete support pilers have been installed and the columns around the building's lower bowl are springing up in a clockwise fashion.

Foremen from Hunt Construction Group and officials from the Orlando Magic, the new 800,000-square-foot facility's primary tenants, are leery to say it now, but construction on the state-of-the-art facility is very much on target for an October 2010 opening."

posted by S.R. Clarke

Monday, December 8, 2008

Clarke County To Move Forward With New High School

http://www.winchesterstar.com/

"The Clarke County School Board will meet next week with the construction management company and architects as it moves forward with its proposed high school construction project.

Two closed-door meetings are scheduled for Thursday at the School Board Office in Berryville.

In the morning, the board’s construction committee is scheduled to meet with Gannett-Fleming, the construction management firm for the school project."

posted by S.R. Clarke

T-Mobile Signs New Newport Corporate Center Lease

http://eastsidebusinessjournal.com/

"T-Mobile USA, Inc. has acted to expand its presence at Newport Corporate Center, officials of Bentall Capital (U.S.) LLC announced today.

As part of the deal, SITQ, which owns the six-building Newport Corporate Center, will develop a new 165,320-square-foot building for T-Mobile. In addition, T-Mobile is extending its lease of 360,225 square feet of space on the campus through 2015.

“This deal is the latest in a string of successful collaborations between Newport Corporate Center and T-Mobile,” said Bentall Capital Vice President Lisa Rowe, who negotiated the deal on behalf of SITQ. “We’re proud that Newport Corporate Center has been able to support T-Mobile’s impressive growth over the years.”"

posted by S.R. Clarke

Thursday, December 4, 2008

Jacksonville Wachovia Tower Sells

http://www.globest.com/

"The market for big deals is not dead, say local brokers after learning of Harbor Group International LLC’s recent sale of the 22-story Wachovia Tower office building at 225 Water St. for $51.4 million. The seller described the buyer as a public REIT that could not be disclosed. According to the special warranty deed issued by a circuit court in Duval County, the buyer is Hub OEC Properties LLC based in Newton, MA. Barry M. Portnoy and Adam D. Portnoy from Newton, MA and Michelle Dreyer from Wilmington, DE are listed as managers of the LLC in documents submitted to the Florida Department of State. Local brokers say the price paid for the building, which they call one of the most valuable office assets in the city, is “top of the market.”"

posted by S.R. Clarke

Tuesday, December 2, 2008

Palm Springs Gene Autry Plaza Breaks Ground

http://www.costar.com/

"Last week, Investec Real Estate Cos. began construction on Gene Autry Plaza in Palm Springs, CA. The Santa Barbara-based investment and development firm expects to deliver the 60,000-square-foot, $17.5 million retail development in April of next year.

The forthcoming shopping center is already 88 percent pre-leased. A 30,000-square-foot Smart & Final Extra! store will anchor the property, with Staples, Starbucks and Goody's Cafe also signing on as future tenants. KKE Architects has been tapped to design the project, with GHA Cos. being brought on as the general contractor. "

posted by S.R. Clarke

Monday, December 1, 2008

Hensel Phelps Starts Quantico Project

http://www.bizjournals.com/

"Hensel Phelps Construction Co. broke ground on a new military department facility on the Marine Corps Base in Quantico.

The $312.5 million project is a collaboration between the Greeley, Colo.-based construction firm and Denver-based design firm Fentress Architects."

posted by S.R. Clarke

Friday, November 21, 2008

Mebane To Get Outlet Center

http://www.bizjournals.com/

"Tanger Factory Outlet Centers has pulled a permit in Mebane for a $25.7 million project with a shopping center, restaurants and hotels, making good on plans the company had been considering for more than a year.

Tanger officials could not be reached for comment, but public records show that the Greensboro-based company has plans to build two clusters of buildings off Arrowhead Boulevard, just east of Alamance Regional Medical Center."

posted by S.R. Clarke

Oklahoma City Outlet Mall Project Delayed

http://www.globest.com/

"The groundbreaking delay of the 341,400-square-foot Outlet Shoppes at Oklahoma is due to financing, rather than demand. But according to area retail experts, when the mall is complete it will have a ready and waiting market.
Outlet Shoppes at Oklahoma City is being developed by Horizon Group Properties Inc. at Interstate 40 and Council Road in the far west submarket. The Norton Shores, MI developer hoped to start construction last summer, but a recent story in The Oklahoman reported that uncertain financial markets pushed the construction launch to spring 2009, with opening scheduled for summer 2010. Meanwhile, Atlanta-based Cousins Properties Inc. is providing financial and other assistance to move the project forward.

Once the mall is up and running, real estate veterans say it should do quite well. "This is on the far west side of the Oklahoma City area, and that's an area that's not really covered when it comes to retail," comments Mark M. Inman, senior vice president of retail services with CB Richard Ellis' Oklahoma City office. Though there are Wal-Mart and Target-anchored power centers within a five-mile radius, "in terms of retail malls, that's an area of Oklahoma City that really isn't covered," Inman remarks."

posted by S.R. Clarke

FedEx Picks Kernersville For Its Hub

http://www.bizjournals.com/

"After months of putting all the necessary pieces in place, FedEx Ground has confirmed that it will build a 400,000-square-foot distribution center in Kernersville, a decision that local officials say should make the Triad a more highly ranked hub nationally for transportation, distribution and logistics.

FedEx Ground’s Southeastern distribution hub is a timely balm for an ailing regional economy. The company has pledged to create 470 jobs over six years and bring $110 million in investment to its operation in the Samet Corp.-owned Triad Business Park just off of Business 40.

FedEx officials were expected to formally announce the decision at a groundbreaking at the business park today.

Site preparation work is expected to start shortly, with construction of the hub expected to start in spring 2009, said a source close to the deal who declined to be identified. The Memphis, Tenn.-based company plans to have the hub operating by spring or summer 2011 in time for its peak season between September and December."

posted by S.R. Clarke

Wednesday, November 19, 2008

Kimball Art Museum To Get Neighboring Building

http://www.fwbusinesspress.com/

"After a year and half of discussion and planning, Fort Worth’s Kimbell Art Museum on Nov. 18 unveiled preliminary plans for a new $70 million neighboring building designed by Italian architectural giant Renzo Piano and funded by the Kimbell Art Foundation.

The new building, which the museum’s acting director Malcolm Warner described as “an architectural masterpiece of the future,” will be a stand-alone two-level facility designed by Piano as a complement to the Kimbell’s landmark Louis I. Kahn structure of 1972."

posted by S.R. Clarke

Baltimore Developer To Build Alzheimer's Center Instead Of Homes

http://www.explorebaltimorecounty.com/

"Developer Frank Harvey has scrapped plans to build townhouses on the old Marianists property in Roland Park and now plans to open a 63-bed Alzheimer’s disease care facility.

The site, at 4301 Roland Ave., used to be a dormitory-style residence for priests and brothers in the Marianists, a Catholic religious order.

Harvey, who owns F.M. Harvey Construction in Hunt Valley, said he decided to drop his original plans to build 19 town houses about eight months ago.

“It’s not a great time to sit on a large number of homes,” Harvey said.

Harvey said that he would sell the land to Capital Funding Group, of Baltimore, and that his construction company would build the two-story Alzheimer’s care facility."

posted by S.R. Clarke

Tuesday, November 18, 2008

Target Opens In Wal-Mart Country

http://nwanews.com/

"Target Corp. 's red bull's-eye is hardly a household trademark in Benton County. For years, the nearest Target store has been in Fayetteville, in neighboring Washington County. But the bull'seye has been shining brightly along Interstate 540, in the shadows of the Pinnacle Hills Promenade, for the past couple of weeks.

Crossland Construction crews continue to erect Benton County's first Target store, situated across the street from the Pinnacle Hills Promenade, along the east side of I-540. The exterior of the 127, 000-squarefoot Target store is nearing completion, the signage has been erected, and the parking lot has been paved. But for those who are planning to get some holiday shopping done at the Minneapolis-based retailer, it's still going to require a drive to Fayetteville this winter."

posted by S.R. Clarke

Monday, November 17, 2008

Mint Hill Mall Project Still On

http://www.charlotteobserver.com/

"Chris Thomas had a consistent message last week: Bridges of Mint Hill will go forward.

That's what the Childress Klein partner told the Mint Hill Lion's Club Tuesday night about the long-delayed retail mall planned for Mint Hill and Interstate 485.

It was a good time for Thomas to speak up. That same day, Childress Klein's co-developer in the project, General Growth Properties Inc., announced it would seek bankruptcy protection if the company couldn't refinance $900 million in debt."

posted by S.R. Clarke