RENDERINGS: Shorenstein, Stiles Corp. to break ground on $165M South End office tower this summer

Written by: Ashley Fahey
Source: Charlotte Business Journal

A 23-story office tower in South End is moving forward later this year, with a new name.

Stiles Corp. and Shorenstein will break ground this summer on 110 East, a 370,000-square-foot office tower at the Lynx Blue Line East/West Station, at the intersection of South End and Dilworth. The tower was expected to start construction last year but was ultimately delayed.

The joint venture will break ground on the $165 million project this summer, said Jessica Brown, executive director at Cushman & Wakefield, who is marketing 110 East with David Dorsch and Grant Keyes of Cushman. 110 East is expected to be ready for tenant occupancy in the fall of 2023.

The project will move forward as a speculative office project if there’s no preleasing by the time of groundbreaking. An exact date for work to begin has not been set.

“We’ve had a good amount of initial interest and some proposals to date,” Brown said.

The tower will include about 11,000 square feet of ground-floor retail space, facing the Lynx Blue Line platform. In fact, much of the project is oriented toward the Blue Line and Charlotte Rail Trail, including a platform-level building lobby that provides direct access from the transit stop. Entrances for a 900-space parking garage and a jump lobby will also be on East Boulevard, with an additional vehicular entrance from South Boulevard. The parking garage will be on floors 2 to 10.

110 East will include tenant amenities on the 11th floor, including a 4,000-square-foot sky lounge, terrace, fitness center and community conference center.

Stiles and Shorenstein purchased the land, which totals about 2 acres, in the fall of 2019 for $21.5 million. This is Stiles’ second office project in South End, having developed and sold 300 West Summit. Shorenstein’s other local projects include Camp North End and the former Flex campus in University Research Park.

Hastings Architecture is the architect at 110 East.

New office space opens in The Gulch; owners optimistic for tenants despite pandemic

Written by: Erica Francis
Source: WKRN News

NASHVILLE, Tenn. (WKRN) — Phase one of three on a big project in The Gulch is now complete.

Gulch Union is transforming a full block between 12th and 13th Avenues and McGavock and Demonbreun Streets with construction recently wrapping up on the first part of the project: 1222 Demonbreun, a 20-story, 330,000 square foot office building with 6,000 square feet of retail on the bottom floor.

Property Manager Tony Bachman said the building caters to the modern workforce with high-end amenities and walkable city conveniences.

The building, leased by Cushman & Wakefield, attracted a roster of tenants largely focused on professional services and finance, as well as a headquarters relocation for a bio pharmaceutical company. Announced tenants, which combine for approximately 100,000 square feet of leased space, include:

• Revance
• RSM Accounting
• Insight Global
• Dixon Hughes Goodman
• Cahaba Wealth Advisors

With six tenants named, this leaves around 200,000 square feet of office space empty in a time where commercial real estate is struggling.

“The leasing industry has closed down a little bit due to restrictions of people getting out, but overall, we’re still seeing a lot of interested a lot of prospects being in this location,” said Bachman, “Obviously, the vaccine has come out so we think as the vaccination goes around, we’ll see more interest start to perk up after the first of the year.”

Bachman said he’s optimistic they’ll fill the space as Nashville’s low cost of doing business, combined with its educated workforce and quality of life continues to appeal to employers leaving higher cost gateway markets to move to Music City.

“We need more buildings like this because it drives the Nashville market forward,” said Bachman, “As we continue to innovate, as the commercial space starts to change and continuously alters itself, I think we need to be able to build something that will push us into the future and what that comes down to is the type of office space.”

Bachman points to the amenity floor of the office tower as one of the draws. 

1222 Demonbreun has an indoor-outdoor sky lounge that overlooks downtown, a 50-person training room, a fitness center with showers and lockers and a micro market that will serve tenants around the clock.

The project also includes a 900-space gateless-entry parking garage.

Now that phase one is complete, work will begin on a boutique hotel, residential tower, shops, and restaurants.

The project remains in negotiations with a number of additional tenants on remaining space.

Tower at Heart of Tropical Fort Lauderdale Breaks With Local Building Style

Written by: Wade Tyler Millward
Source: The Real Deal

Stiles Unveils Downtown Fort Lauderdale’s Newest Apartment Community at The Main Las Olas, Renderings Released

Luxury high-rise at The Main Las Olas to feature the city’s first Publix GreenWise Market, unrivaled amenities and big-city walkable urban lifestyle

Source: NAIOP South Florida Chapter

Stiles Residential Group, a leading luxury multifamily developer and division of 69-year-old South Florida real estate firm Stiles, today unveiled Novo Las Olas (Novo), a 341-unit apartment home community located in the heart of downtown Fort Lauderdale that will feature the city’s first GreenWise Market, which is owned and operated by Publix Super Markets, Inc.

Novo is part of The Main Las Olas, the new landmark 1.4 million-square-foot mixed-use community that spans a full city block between 201 East Las Olas and SE 2nd St., and includes a 357,000-square-foot Class A office tower currently under construction. The Main Las Olas is a joint venture between Stiles and San Francisco-based Shorenstein Properties LLC. Stiles Construction is the project’s general contractor.

“This building offers a unique urban living experience that will be new to downtown Fort Lauderdale,” said Jeff McDonough, President of Stiles Residential Group. “This is the only apartment community where residents will be an elevator ride away from a grocery store that offers a wide variety of specialty, natural and organic products – a huge amenity to our residents. Novo was designed to deliver a luxury urban living experience with incredible convenience, not only because of its connectivity to all The Main Las Olas has to offer, but also because everything you love about Las Olas is right at your doorstep.”

Novo has begun accepting applications for pre-leasing of their premier apartments and virtual tours are being offered. Construction is nearing completion with first move-ins expected in November 2020, which coincides with the anticipated opening of GreenWise Market. More information on leasing can be found at www.NovoLasOlas.com.

“Over the past year, downtown Fort Lauderdale’s nucleus shifted west of 3rd Ave. on Las Olas and Stiles’ new office and residential developments have led the way with projects including Alluvion Las Olas and The Main Las Olas,” said Ken Stiles, Chief Executive Officer. “We look forward to delivering another exciting and diverse residential community to date in this state-of-the-art urban hub that truly embraces the city and exudes style and luxury.”

The only grocer to be located on Las Olas Boulevard, GreenWise Market will help establish a higher level of urban living in downtown. In addition to traditional grocery options, this new 28,000-square-foot prototype store will offer experience zones, which include made-to-order meals and grab and go foods like handcrafted gourmet sandwiches and freshly baked pizza, a sushi bar, a curated selection of wines and imported cheeses, and a beverage area featuring locally roasted coffee, wine and beer on tap and other selections to enjoy while shopping or relaxing at the bar.

Built for convenience, residents will be able to access GreenWise Market without having to go outside. Going one step further, several residential amenities have been curated to pair with the grocer’s offerings, such as the community’s outdoor pizza oven on the amenity deck, allowing residents to take-and-bake their own pizza dough from the market to home. In addition, Novo residents will have immediate access to The Main Las Olas and retail shops and restaurants at the ground level.

Novo will offer vibrant yet undeniably welcoming and livable spaces with a wide array of outstanding amenities. Unit sizes range from 600 square feet to 1,400 square feet across studio, one, two and three bedrooms, and feature flexible living spaces and floor-to-ceiling windows to maximize views. Apartments offer premium finishes, including quartz countertops, soft-closing cabinet doors and drawers, wood plank style flooring throughout the units, stainless steel appliances, full-size washers and dryers, private balconies and terraces, and electronic locks.

Features and amenities include 24-hour concierge, a Sky Terrace and Lounge capturing panoramic views of the skyline, a resort-style pool area with fire pit, cabanas and gaming areas, outdoor entertainment pergola with grills, pizza oven, green egg grills, and areas for gathering. The state-of-the art fitness center will offer strength training, TRX system, cardio machines, and a yoga/group fitness studio with on-demand classes. Other amenities include a co-working lounge, club room, 24/7 package access, and secure bike storage with bike repair equipment. In addition, pets will be treated like royalty with an artfully designed dog park and grooming/wash station.

The apartment community will be managed by Greystar, a global leader in rental housing services. Founded in 1993, Greystar manages over 693,000 units/beds with $35.5 billion assets under management globally. 

Toni Rials, Greystar Senior Director of Real Estate commented, “With the office just a few steps away, you can head home for lunch and play a round of fetch with your dog in the dog run or squeeze in an episode of your favorite show. At Novo, residents will be able to get uncommonly close to everything downtown offers — the Wharf, the business district, outstanding shopping and dining, legendary nightlife and unforgettable views.” 

Novo was designed by award-winning architecture design firm Cooper Carry, which has designed numerous iconic buildings on Las Olas.

For more information, visit www.NovoLasOlas.com.

Three Cheers for the Quincy, Topped Out in the Rainey Street District

Written by: James Rambin
Source: Towers Realty

As we’ve mentioned before, the name of the 30-story apartment and office project currently under construction in the Rainey Street District known as the Quincy has nothing to do with Quincy Jones, John Quincy Adams, or Quincy, Massachusetts — or any local Quincys, for that matter. Instead, its developers at Endeavor Real Estate Group just liked the name, and that’s fine by us. You spend a couple hundred million big ones throwing up a skyscraper and we think you can call it whatever you want. 

Speaking of big ones, you might have noticed this week if you’re masking around in the Rainey Street District that the Quincy has reached a very important milestone of its construction by Texas firm Rogers-O’Brien, despite not being completely finished on its exterior shell — it’s officially “topped out,” meaning its highest occupied level has been completed and the building, despite its somewhat unfinished outsides, is pretty much as tall as it’s gonna get.

We appreciate this milestone almost as much as the actual grand opening, since it means we’ve finally got an accurate impression of the tower’s impact on our skyline from all angles — plus, if the developer knows what they’re doing, they’ll make sure and slap a tree up there at the tower’s highest point. 

Yes, a tree — if you’re a person reading this site there’s a higher chance you’ll be familiar with this aspect of the “topping out” tradition than the rest of the world, but we still think it’s worth explaining since this project’s location means the tree at the top of the Quincy is extremely visible when you’re passing on I-35.

Like many interesting American traditions — including a number of the specific ways we celebrate Halloween, Christmas, and Easter — the topping out observance of a construction project finds its roots in ancient pagan traditions, in this case supposedly tracing all the way back to a pre-Christian Scandinavian religious practice.

Originally, the act of placing a tree on top of a new building when it reaches its highest point was intended as an offering to placate the potentially irritated spirits residing within the many trees displaced by the gathering of timber for the construction project — and even though we’re not using nearly as much wood these days, the tradition persists despite a flagging popular belief in the existence of angry spirits. 

Scandinavian mythology suggests that humans originated from trees and our souls returned to the trees after death, giving each tree a spirit of its own.

Humans began constructing their shelter with wood. Before cutting a tree, they would formally address the forest, reminding it of the consideration they had always shown toward the trees and asking the forest to grant use of a tree for construction of their home. When the house was complete, the topmost leafy branch of the tree used would be set atop the roof so that the tree spirit would not be rendered homeless. The gesture was supposed to convince the tree spirit of the sincere appreciation of those building the home.

As time passed, the early conception of tree worship gradually changed. The individual tree spirits merged into a single forest god who could pass freely from tree to tree. Trees were no longer placed atop the home to appease spirits, but rather to enlist the blessings of the forest god. The tree branches on top of the home ensured fertility of the land and the home.

The custom of placing a tree on a completed structure came with immigrants to the United States and became an integral part of American culture in barnraisings and housewarmings.

— Columbia University School of Social Work

At this point, the observance of the topping out tradition is really just a recognition of the effort put in by the men and women working on these project sites over the sometimes years-long construction cycles of tall towers like the Quincy — and it’s especially nice to see such a prominent symbol of this accomplishment atop the building in a time when the construction profession faces even more risk than usual while raising the future of Austin to its place in the skyline. Maybe the next time you’re stopping by the neighborhood, you could give them and their tree a little wave.

Read more at: https://austin.towers.net/three-cheers-for-the-quincy-topped-out-in-the-rainey-street-district/

The Quincy in the Rainey Street District of Austin, Texas- OxBlue Construction Timelapse

Luxury apartments in Raleigh go for $400K+ per unit

Written by: Caleb Harshberger
Source: Triangle Business Journal

A pair of developers have closed on the sale of a massive luxury apartment complex inside the beltline overlooking Glenwood Ave. in Raleigh.

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New development underway in Gulch will occupy entire city block

Written by: Stephanie Langston
Source: WKRN News

NASHVILLE, Tenn. (WKRN) – A major development is underway at the gateway of downtown in the Gulch. 

Gulch Union will occupy a full block between 12th and 13th Avenues and McGavock and Demonbreun Streets. 

“It’s a full city block that’s being transformed into a place where people are going to live, work, and stay,” Jenna Muller of Cushman & Wakefield told News 2.

Right now, you can see phase one is under construction, which will be a 20-story office tower branded 1222 Demonbreun. 

Muller says crews will eventually knock down Hot Box Fitness and the office building beside Adele’s and across from Whiskey Kitchen transforming the area. 

“For many years it’s been low-rise buildings that really haven’t had a very active feel, but I think Gulch Union is really going to change that to create a very walkable, connective community.” 

Once phase one is complete work will begin on a boutique hotel, residential tower, shops, and restaurants. 

“It’s all going to be connected by a lushly, landscaped, elevated podium that’s going to serve as an amenity to the entire project and there’s really nothing else like it in Nashville,” Muller explained. 

She says there’s been a high interest in the location. 

“We’ve had a lot of interest from a very diverse mix of tenants; from professional service firms to more creative and tech type companies so it’s been a wide spectrum of local groups and of groups looking across the country.” 

Muller points to the amenity floor of the office tower as one of the draws. 

“It will include 9th-floor amenities exclusive to tenants of the building. It’s going to have an indoor-outdoor sky lounge that overlooks downtown, 50 person training room, a fitness center with showers and lockers, and then a micro market that’s just going to serve tenants around the clock with whatever they need so it’s really designed to meet the needs of today’s modern workforce,” said Muller. 

She adds that the location is one that’s hard to beat. 

“This is really the gateway to downtown. It’s a highly visible location, you know it’s visible from the highway and you just have access of all the amenities to the gulch, downtown and easy access to the highway so it’s arguably the best location in Nashville.” 

The first phase of Gulch Union is scheduled to be ready for tenants by April 2020. 

Two cranes are on the project to keep to a tight deadline.

Hensler now eyes 32-floor tower for Rolling Mill Hill

MDHA board to review revised development plan

Written by: William Williams
Source: Nashville Post

Nashville-based developer Ray Hensler and his team working on a mixed-use project on Rolling Mill Hill will on Tuesday present to Metro concept and massing plans that show a taller main tower than previously considered.

Specifically, the group will go before the Metro Development and Housing Agency Design Review Committee to seek approval of the plans, which have been altered. Previously planned as a 20-floor, 300-unit structure and then, later, for 26 stories (read here), documents show the residential tower is now being designed to rise 32 stories. A residential unit count hasn’t been finalized, Hensler told the Post.

A Class A office building (215,000 square feet) also would rise six floors on the site, which has an address of 30 Peabody St., the documents show.

Of note, a future Crockett Street has been redesigned.

“Working with MDHA, Public Works and DES, we have a plan to reconnect Crockett Street in a location that works for DES but required some significant site plan change,” Hensler told the Post. “We’re very happy with the changes and want to be sure the [design committee] is also satisfied before further advancing our plans. The additional height is essentially just capturing the same volume of space that existed in wider towers within the original plan.”

The project, which also will include some retail, will be called Peabody Union at Rolling Mill Hill. Detailed renderings will be released in a few months, Hensler said.

Hensler and co-developer Stiles Corp. plan to pay MDHA $16 million for the 4.6-acre property at 30 Peabody. Originally, their offer was $13.5 million. The proposed deal maintained the $1 million payment Hensler pledged to provide Metro toward construction of affordable and/or workforce housing.

In addition, MDHA is committing $17.5 million of tax increment financing toward the project, more than the $10 million to $12 million Hensler estimated in his previous bid.

Peabody Union’s retail spaces will feature a mix of flagship anchors, health and fitness concepts, local artisans and restaurants, according to a release sent in early 2018.

Work can begin on Peabody Union once Eakin Partners finishes its mixed-use Peabody Place project rising on a nearby site and MDHA completes a parking garage. (The surface parking to be lost on the Peabody Union site will be compensated for at Peabody Place).

Hensler and Stiles are eyeing a late-2020 construction start and a mid-2023 finish.

In early 2018, Eakin paid MDHA $9.4 million for the property on which the company’s nine-story, office-and-retail Peabody Place is rising. That building is now above grade.

30-story tower coming to downtown Austin’s Rainey district

Written by: Emma Freer
Source: Community Impact

The Quincy, a new 30-story mixed-use tower being developed at 93 Red River St., Austin, by Endeavor Real Estate Group, broke ground in early March. The building will be located between Driskill and Davis streets, across the street from Container Bar.

It will combine one floor of retail, 19 floors of residential units and three floors of office space, plus seven levels of above-ground parking. It is scheduled to open in early 2021.

www.endeavor-re.com/properties/93-red-river-the-quincy/