Inova II Office Topping Out

Centennial, Colo. (PRWEB) May 27, 2017

Signifying the construction milestone of being approximately halfway through construction, the Inova II Office building celebrated its topping out. The structure will be southeast Denvers newest innovative suburban class-A office building, located just off I-25 on East Dry Creek Road. Construction team members, along with the design team and other project stakeholders, celebrated the event with a BBQ and the tradition of placing the final steel beam onto the top of the building.

Inova II was designed by Powers Brown Architecture and developed by United Properties. Inova, short for innovate, reflects the competitive advantages in providing a high value, cost effective, smart, sustainable and efficient new office campus.

Part of a 5-building master-planned development, the new 4-story, 233,000-sf office building will be built using a unique tilt-up panel method. The class-A spec office building is an L-shaped structure with a partially below grade parking structure. It features large, efficient floor plates, expansive windows and a roof-top patio. The space is expected to provide workspace for 574 employees throughout the first and second floor.

These developments will be transforming the standards of how our industry builds working environments to be more sustainable and cost-effective, said Tom Horsting, Regional Vice President of Adolfson & Peterson Construction. It is wonderful to be a part of this team.

AP was awarded the project from the success of building the Inova I project. Inova II is pursuing LEED Silver Certification and will be completed in December 2017.

About AP Adolfson & Peterson Construction (AP) is a U.S.-based, privately held builder that is consistently ranked among the top 50 construction managers and general contractors in the nation. Headquartered in Minneapolis, Minnesota, the company delivers innovative and collaborative building solutions for clients across the country from its regional offices in Charlotte, Dallas, Denver, Minneapolis and Phoenix. Founded in 1946, AP serves clients in the education, healthcare, commercial, municipal, multifamily, hospitality and senior living market sectors. For more information, visit http://www.a-p.com or follow us on Facebook, LinkedIn and Twitter. ###

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Adolfson & Peterson Construction Tops Out Inova II Office Building - PR Web (press release)

The new Steiner Ranch commercial project includes three buildings and two entrances off North Quinlan Park Road.

A two-story commercial building andtwo other structures are in the works for an 8-acre tract in Steiner Ranch at 3810 N. Quinlan Park Road, Austin at Steiner Ranch Boulevard, local developer Cosmo Palmieri said.

Palmieri is developing the speculative mixed-use centerformerly known as MU-4 or Village of Steiner Ranchwith owner Kelly Gray and said he has been issued a site development permit for the project.

We kicked off the architectural drawings a week ago, Palmieri said, of the project that includes a 34,000-square-foot, two-story building and two smaller pad sites of 5,000 square feet each.

The large office building will have views of the main basin of Lake Travis and include retail on the lower floor and office space on thetop level, he said.

The project is located in the unincorporated area of Travis County and will have two driveways off North Quinlan Park Road, with one adjacent to Portofino Road in the neighborhood, Palmieri said. The site is part of Steiner Ranchs master development plan, he said.

Levy Architects will design the project and Wes Babb, senior vice president of Lincoln Property Company, will manage the center, Palmieri said.

Our first order of business is for our architect to reach out to the neighborhood association to inform them of the project and let them know we have the guidelines and criteria [for the neighborhoods master plan], he said.

Construction on the large building is slated to start in January and expected to be complete by fall 2018, Palmieri said.

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Office buildings, retail bound for Four Points - Community Impact Newspaper

BELMONT For the first time in more than a decade, Allegany County officials plan to get the top floor of the Allegany County Office Building back to usable condition.

Legislators voted 12-2 in favor of $2.02 million in contracts for the renovations on Monday, with Legislators Tim OGrady, R-Wellsville, and Norm Ungermann, R-Cuba, in opposition. Legislator Charles Jessup, R-Alfred Station, was absent.

The approved contracts include:

A $764,000 contract with Holdsworth Klimowski Construction of Victor for general contracting on the project. The bid is below the roughly $864,000 estimated by LaBella.

A $302,000 contract with Concord Electrical Corp. of Rochester for electrical work. The bid was not the lowest submitted, but a $298,800 bid from Painted Post-based Schuler-Haas Electric Corp. was disqualified because the firm had not submitted a non-collusive bidding certificate. The bid was above the $214,590 estimated by LaBella.

A $273,000 contract with Mazza Mechanical Services, Inc., of Olean for mechanical work. The bid was below the $431,125 projected by LaBella.

A $76,400 contract with John W. Danforth Co. of Tonawanda for plumbing work. The bid was the highest of two bids, but above the $74,750 projected by LaBella.

All together, the bids came in at $1.42 million, or about $169,000 under estimates.

Legislator Kevin LaForge, C-Wellsville, abstained from voting, as his firm, LaForge Disposal Services Inc., has worked with the companies previously. Ungermann abstained from voting on the mechanical work, noting he has worked with Mazza Mechanical on several occasions.

In addition to funds for the third floor contracts, county officials are setting aside:

$50,000 for elevator repair;

$71,000 for LaBella as clerk of the works;

$26,000 for third floor control replacement; and

$452,600 to renovate the space on the first floor that will be freed up by the offices moving to the third floor.

The space to be renovated, officials said, will be used by the public defenders office, Department of Social Services administration and other offices, while the first floor of the building will be used for intake of those needing county services.

Space needs have become critical in the building, said county Administrator Tim Boyde.

There is literally a person down there working in a closet, Boyde said. We will be able to spread out and better serve the county.

But some legislators disagreed with using the third floor, which until about 10 years ago was the county jail.

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This isnt going to begin to give us the space we need, Ungermann said. I think were better off taking that money and put it with some other money and build a building off campus.

OGrady recommended the county look to the countys public safety complex on Route 19 south of Belmont as a possible site.

We never explored the option of alleviating the parking and finding a building, OGrady said, adding he has been in opposition to buying old houses on Court Street, upgrading the elevator to the third floor and other expenses to keep county offices on Table Knoll without looking at other sites.

Legislator Karl Graves, R-Wellsville, said the move keeps with the original purpose of the office building, constructed in 1976.

I remember the justification they used at the time they wanted to centralize all the functions of the county government, Graves said.

He added the rennovation would make good use of the space on the top floor.

I dont know where youre going to find (the space), except on top of this building, Graves said.

Graves also said that with the county holding more than the equivalent of 20 percent of its annual budget in reserves, the county could do the work without borrowing like it did for the $14 million courthouse renovation in the late 2000s or the public safety complex a few years earlier.

Now is the time to do it because we can afford it, he said. Down the road, we might not be able to afford it.

(Contact reporter-editor Bob Clark at bclark@oleantimesherald.com. Follow him on Twitter, @OTHBob)

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$2.02 million renovation to top of Allegany County Office Building OK'd - Olean Times Herald

GREENSBORO A group of Triad developers plans to build the first major downtown office project in two decades at the entrance of the Greensboro Grasshoppers First National Bank Field.

The 111,869-square-foot building is another part of a building boom expanding downtowns urban core.

The nine-story building, at the northwest corner of Eugene and Bellemeade streets, will be integrated into the ballparks

entrance and overlook the baseball diamond, said Robin A. Team Jr., the president of Carolina Investment Properties of Lexington, which is developing the building in a joint venture with GEMCA Development of Winston-Salem.

The $24 million building will be designed with existing ballpark elements, including a brick masonry facade, arched openings and a sloped roof.

It will occupy the half-acre stadium entry plaza that currently features baseball sculptures on a brick walkway.

Team said the Grasshoppers organization will own a portion of the office project.

Tuggle Duggins law firm will occupy the top 21/2 floors of the building, which is about one-third the size of the Lincoln Financial Building on North Greene Street.

Retail-oriented space will occupy the first floor and 65,000 square feet of Class A office space will be available for lease.

Moser Mayer Phoenix and West & Stem Architects designed the building with balconies for tenants and a 1,200-square-foot shared entertainment and conference space for all tenants that will feature a balcony overlooking the ballpark.

The ballpark has become the catalyst for a building boom that is reshaping the northern end of downtown.

The Carroll Cos., based in Greensboro, is developing Carroll at Bellemeade, a $65 million hotel and apartment complex on Eugene to the east of the ballpark. Aloft Hotels plans to build one of its boutique hotels to the south of the ballpark, on Bellemeade. The hotel will be integrated into a planned $30 million city parking deck on property also owned by developer Roy Carroll.

Two nearby apartment projects, including the Greenway at Stadium Park apartments, which overlook the left field side of the ballpark, have opened since 2014.

Carroll said Wednesday by email: I have seen the renderings on this project and consider it a great addition to our downtown. This project along with other proposed projects in the area would not be moving forward without the vision and support of the Greensboro City Council in providing parking in the area. Im expecting a boom around the ballpark. I can easily see $200 million plus in additional unannounced development around the ballpark within the next 5 years.

Greensboro Mayor Nancy Vaughan said this new development, along with proposed projects on the southern end of downtown on or near Gate City Boulevard, are revitalizing the entire central business district.

You look at whats going on at the other end of downtown. It really is spreading out nicely, Vaughan said. Thats one of the things weve always said is we want to expand the footprint, and its nice to see the investment.

In addition to Carrolls projects and the apartments near the ballpark, northern downtown is growing on the eastern side with last years opening of the $10 million LeBauer Park on North Davie Street and the planned $78.1 million Steven Tanger Center for the Performing Arts to be built over the next two years among North Elm and East Lindsay streets, Abe Brenner Place and Summit Avenue, on a site diagonal to LeBauer Park.

The lead developer of the new office building project is Coleman Team, a partner in Linville-Team Partners. He also will oversee leasing of the building.

Coleman Team said that only 7 percent of the office space downtown is vacant, which suggests pent-up demand for new office space.

Team said office buildings integrated with such amenities as ballparks and near apartments and hotels attract young, bright talent to businesses and communities.

A lot of office builders are willing to invest in space that appeals to millennials, Team said. Their space helps them create a culture that attracts people and can help Greensboro compete with such hot job markets as Charlotte and Raleigh.

Vaughan and Carroll recognized Zack Matheny, the president and chief executive officer of Downtown Greensboro Inc., who has helped coordinate efforts between the city and developers to boost and broaden development.

Matheny said Wednesday in his South Elm Street headquarters that to have this level of interest with this creativity is a tremendous asset to all of the energy thats been going on in downtown.

In April, the Greensboro City Council approved a deal with CHI Greensboro, which will build the $30 million Bellemeade parking deck, which will have 1,050 spaces. The city will own and operate the deck after CHI builds it.

Construction of the office building is expected to begin in the third quarter of 2017 and end in about a year.

Contact Richard M. Barron at 336-373-7371 and follow @BarronBizNR on Twitter.

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New office building will be integrated into Greensboro baseball stadium - Greensboro News & Record

Winston Churchill said, We shape our buildings, and afterwards our buildings shape us. And while there are many developers working hard to erect theoffice buildings of the future, others are just as passionate about repurposing yesterdays buildings for modern-day use, believing that the character of these structures is still viable.

Courtesy of R2 Cos.

901 West Jackson Blvd., Chicago

R2 Cos. chief investment officer Max Meyers said that while there is plenty of new construction that is attractive, it cannot compete with existing product from a design perspective. R2 looks for buildings with what Meyers calls true character so that when these assets are repositioned, it results in a product that cannot be replicated with new construction. Adapting these buildings also provide significant cost savings that can be passed along to tenants.

R2 and Walton Streetpaid $86M last November for a portfolio of seven buildings and three land sites in the West Loop and South Loop. Six of the seven buildings in the portfolio range between 53K SF and 85K SF; the largest, 641 West Lake St., is 107K SF. Meyers said design elements such as exposed timber and brick and terra cotta faades are attractive selling points to a different type of tenants than the ones being courted for newer Class-A construction office buildings. The smaller footprints in these buildings cater best to midsize tenants.

Courtesy of R2 Cos.

R2 Cos. chief investment officer Max Meyers

R2 seeks properties in markets where the surrounding neighborhoods can serve as an amenity. The West Loops status as a booming restaurant and nightlife district is a selling point to many companies.R2s developments on Goose Islandare also using the surrounding neighborhood as an amenity. Goose Island is almost equidistant from the central business district and neighborhoods like Wicker Park, Bucktown and Logan Square where downtown office workers live. That cuts down on commuting time, which can be transferred to productivity during the workday.

R2s Goose Island developments offer prospective tenants a significantly lower economic proposition for a larger footprint, and a more unique building experience. Meyers is excited that the Plan Commission approved theNorth Branch Industrial Corridor Framework last week, as proposed zoning changes will finally expedite activity on and around Goose Island, which Meyers believes should be more developed than it already is.

Courtesy of R2 Cos.

The downtown Milwaukee post office, Milwaukee, Wis.

R2 has executed a couple of high-profile covered land plays in the past 18 months. These deals provide a steady revenue stream for R2 on the properties while the firm can plot out its next moves. R2 JVd with Polsky Holdings in October 2015 to buy the downtown Milwaukee post office in a $13M deal. The USPS lease runs through 2020, with a series of five-year extensions. But it is considering relocating to other areas to meet the needs of customers.

R2 is working with Gensler to draft a mixed-use reuse plan that highlights the 50-year-old buildings Brutalist architecture. The post office ties in with Milwaukees ongoing efforts to revitalize West St. Paul Avenue, which includes installing a streetcar system that Meyers said would drop workers off at the buildings front door. The building is also near Milwaukees Amtrak station, making any future retail in the building ideally located for tourists.

WGN-TV studios, Chicago

R2 and Polsky alsobought the WGN television studios at 2501 West Bradley Place in a $22.25M sale-leaseback deal in February. It is another covered land play with a high-credit tenant, in a heavily residential neighborhood. The studios are in the highly rated Bell School District and located a block north from Lane Tech College Prep, one of Illinois highest-ranked high schools. Meyers said R2s deal with WGN is similar to the Milwaukee post office. As long as WGN wants to stay, it can. But if Tribune Medias new owner, Sinclair Broadcasting, decides to relocate the studio, Meyers said R2 would be happy to have the site as a redevelopment play.

To hear more from Meyers and other office real estate experts, attend Bisnow's Big Midwest Office Event, 7 a.m. on June 14 at 440 South LaSalle. Register here.

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Building New Cities With Old Bones - Bisnow

May 24, 2017 12:00 ET | Source: SmithGroupJJR

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Sunnyvale, CA, May 24, 2017 (GLOBE NEWSWIRE) -- SmithGroupJJR has been commissioned by Spear Street Capital to design a new 145,500-square foot, three-story, Class A speculative office building at 221 N. Mathilda Avenue in Sunnyvale, California.

The development will be constructed on a 4.3 acre greenfield site at the northwest corner of the intersection of Mathilda Avenue and West California Avenue, in close proximity to the Sunnyvale station of Caltrain, the San Francisco Peninsula commuter rail service.

According to SmithGroupJJR lead designer David King, the buildings most significant design feature is the striking, custom 2,000-square-foot, laminated glass artwork that will span the buildings east faade. Commissioned from artist Stephen Galloway, known for his large-scale public works, the artwork reflects the sites history as an orchard. Inside, the unique design continues with floor-to-floor windows and industrial elements that offer an open, modern warehouse feel.

SmithGroupJJR designed the facility to have a strong visual connection to the surrounding community. It is one of the first new buildings to comply with the Peery Park Specific Plan, which calls for updated design and planning standards for redevelopment encouraging Class A office and density.

We wanted to acknowledge Sunnyvales rich history by maintaining a large amount of open space on the site while simultaneously representing its dynamic future, said Juhee Cho, Workplace Studio Leader at SmithGroupJJRs San Francisco office.

The office building will feature large floorplates up to 49,500-square-feet, a multi-level parking garage and ample outdoor amenities, such as a prominent deck and a private courtyard with an outdoor kitchen. Additional amenities include a third-level patio, bike repair and storage, lockers and showers, and public open space. The site also includes a 1,200-square-foot historic home, which will be rehabilitated as a multi-purpose conference/amenity facility for the future tenant.

Slated for construction completion in the fall of 2018, the new office building is targeting LEED-NC Platinum certification. Sustainable design features include energy efficient building systems, architectural solar shading, water conserving fixtures, ample outdoor amenities, including public open space and green screen cladding on the parking garage. South Bay Construction is serving as general contractor.

SmithGroupJJR is a recognized, integrated architecture, engineering and planning firm ranked Top 10 in the U.S. by Building Design + Construction magazine. The firms nationally recognized Workplace Practicehas completed the planning and design of more than 60 million-square-feet of corporate, government, institutional and private development projects related to workplace environments and urban development. With 164 LEED certified projects, SmithGroupJJR is a leader insustainable design.

Spear Street Capital is a real estate investment company dedicated to pursuing select office investment opportunities primarily in the United States and Canada. The firm targets well- conceived and located properties that can succeed through creative leasing efforts, physical improvements, entitlement changes or realization of adaptive re-use strategies.

###

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SmithGroupJJR designs new Silicon Valley office building featuring prominent, public artwork on exterior faade - GlobeNewswire (press release)

Highwoods Properties, Inc. (HIW - Free Report) announced that it has been selected by MetLife, Inc. (MET - Free Report) to develop a third office building for its global technology campus in Carys mixed-use Weston planned unit development (PUD). The Raleigh, NC-based real estate investment trust (REIT) will invest $63 million for this 219,000 square feet, fully pre-leased building. Construction on this build-to-suit project is slated to begin this summer and is likely to be complete in first-quarter 2019.

Notably, Highwoods developed the first two buildings for MetLife in 2015. The addition of the third building in the 655,000-square-foot campus took the REITs total investment to around $172 million. Also, with this project, the development pipeline of Highwoods has risen to 2 million square feet. This amounts to an expected investment of around $612 million, which is 85% pre-leased on a dollar-weighted basis.

Headquartered in NY, MetLife is a leading provider of insurance and financial services to a broad spectrum of individual and institutional customers and is a trusted and highly regarded customer of Highwoods. The successful growth of MetLife in Weston indicates the availability of strong technology-oriented employment pool that attracts companies to this area. Shares of Highwoods underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. Shares of the company decreased 3.5%, whereas the industry lost 0.8%. However, in the last 30 days, its full-year 2017 FFO per share estimates moved up.

Currently, both Highwoods and MetLife carry a Zacks Rank #3 (Hold).

Investors interested in the REIT space, may consider better-ranked stocks like Easterly Government Properties, Inc. (DEA - Free Report) and Gaming and Leisure Properties, Inc. (GLPI - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here.

In the last 30 days, Easterly Government Properties FFO per share for second-quarter 2017 remained unchanged at 31 cents.

In the last 30 days, Gaming and Leisure Properties FFO per share for second-quarter 2017 increased 1.3% to 77 cents.

Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.

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One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>

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Highwoods to Develop MetLife's Office Building in Weston - May 23 ... - Zacks.com

realized by jan kattein architects and meanwhile space,the project transforms a defunct council office building and car park in london with the aim of nurturing talent and boosting local businesses over the next five years. just around the corner from wood green high road, the blue house yard is a collection of creative work spaces which will soon be home to a tailor, toy maker and a brewer among other local entrepreneurs.

framed by a bright blue studio complex, nine tall, slender standalone worksheds and a double-decker bus caf, the yard itself will become a much-needed social space in the town centre, hosting markets and evening events.

jan kattein architects and meanwhile space have collaborated with high street works, a multi-disciplinary organisation intervening across london to provide high street improvements.in order to achieve an innovative and distinct design for blue house yard, adaptable to the individual needs of a broad range of creative tenants, the company ultimatelyembraced a self-build process. here, construction is not just a means to an end; it provides an opportunity to test and prototype sustainable timber frame construction, helps to train eight local carpentry apprentices and discover new design opportunities at every joint and junction.

each space has been devised to give its tenant the operational framework they need to grow. homeworkers will have their first public facing space, new businesses will be able to do market testing and more established business can take on new staff. the public space means there are opportunities for all to benefit from tenants activities, or be drawn to plan and deliver their own. the first tenants have already started moving into studios, with work on the yard set to finish in may.as construction nears completion, and tenants begin to customize their work spaces, the project is only just beginning the next phase of its creative development.

designboom has received this project from our DIY submissions feature, where we welcome our readers to submit their own work for publication. see more project submissions from our readers here.

edited by: lea zeitoun | designboom

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defunct council office turned into the blue house yard in london - Designboom

May 22, 2017 4 Comments

Coles Co. (ECWd)

As the State of Illinois crumbles from failures of our public officials to know and do their job, one only need to look at their local government to see much of the same problems. For years we have been asking public officials a simple question. Where in the law does it give you the power to do what you did? Commonly known as Dillons Rule.

Who knew Coles County was $1,105,000.00 in Bond Debt? According toits Comptroller filing, the county sold Revenue Refunding Bonds, Series 2008, among other Bonds, to finance construction of an office building for the Regional Office of Education. The original issue of those bond was $600,000.00 of which they currently owe $270,000.00, however that number does not reflect the interest.

Is county government allowed to sell bonds to build an office building for the Regional Office of Education?Where in the law does it give them the power to do what they did?

How the game is played.

The School code has outlined County Board obligations as it relates to the Regional Superintendent.

(105 ILCS 5/4-2) (from Ch. 122, par. 4-2) Sec. 4-2. Office and supplies. Provide for the county superintendent of schools a suitable office with necessary furniture and office supplies.

Although the counties code does notspecifically permitthe County to bond for an office building for the Regional Superintendent, the Building Commission Act does, which is how the county built this office building.

Is there anyone in their right mind that spends $600,000.00 plus interest to build an office building so you can provide a suitable office for the Regional Superintendent?

Under Dillons rule, the Building Commission has 1)powers granted in expressed words; 2) Those necessarily or fairly implied in or incident to the powers expressly granted, and 3.) Those essential to the declared objects and purposes of the corporation, not simply convenient, but indispensable.

Working backward, most would agree that building an office building is not essential in order to provide office space. Some may contend that building an office building is necessarily or fairly implied to the power granted of providing office space. I think that is a stretch. That leaves us with the first rule, powers granted in expressed words.

Although the Building Commission has the power to sell bonds and build buildings, the Public Building Commission Act has limitations set by resolution when they were created and can not be expanded without the approval of the voters. The PBCA states, The County Board of any county that has created a public building commission for a limited and specific purpose may expand that purpose by resolution.

Two questions:

An FOIA request has been issued for a copy of the original Resolution that shall specify the limited purpose for which such Public Building Commission is to be created. Any bets there was any reference to the construction of an office building so the county would be able to provide a suitable office for the Regional Superintendent?

As this relates to the other counties obligations, we understand there is a lease agreement with those counties and the Building Commission. That too has been FOIAd and we will update accordingly.

We also note there have been numerous school superintendents that are convinced the duties of Regional Superintendent could easily be performed by the applicable School Superintendents, which would save a small fortune to the taxpayers.

.

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Coles County sold bonds to construct office building for Regional Education Superintendent - Edgar County Watchdogs

Written by Miami Today on May 22, 2017

International real estate firm Hines announced plans Monday to develop 110 10th Street, a 45-story, 600,000-square-foot office-led, mixed-use tower within Miami Worldcenter. 110 10th is to include Class A office space and high-street retail.

The tower will be the first Class A office building of scale constructed in Miamis Central Business District in eight years, and will rise between Northeast First and Second avenues and Northeast Ninth and 10th streets, adjacent to Miami Worldcenters 360,000-square-foot high-street retail promenade.

Construction of Miami Worldcenters first phase, which includes high-street retail, the 60-story Paramount luxury condominium and a Class A rental apartment building, began in 2016. The 10-block mixed-use development is to include world-class retail, hospitality, residential and commercial uses.

Hines said it expects to start construction on the building in the second quarter of 2018 with initial occupancy in late 2020 or early 2021.

Our vision for Miami Worldcenter has always involved working with a world-class team of developers to create a mix of uses that addresses downtown Miamis commercial and residential needs and contributes to the city skyline, said Nitin Motwani, managing principal for master developer Miami Worldcenter Associates. More companies are moving to downtown Miami each day and existing brands are expanding here. An office tower at Miami Worldcenter will offer tenants a chance to be in a mixed-use setting thats centrally located, walkable and connected.

Details: http://www.miamiworldcenter.com

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Hines plans 45-story office building in Miami Worldcenter - Miami Today