REBusinessOnline

J.C. Anderson Completes Renovations of Schaumburg Corporate Center in Suburban Chicago

SCHAUMBURG, ILL. — J.C. Anderson has completed renovations of Schaumburg Corporate Center in suburban Chicago. GlenStar Properties owns the 1 million-square-foot office complex. The project included a new tenant lounge, conference center, management office and renovations to the fitness center, atrium, flooring and painting. J.C. Anderson also connected a stairway from the first-floor atrium to the lower-level fitness center. Wright Heerema Architects provided architectural services. …

Cohen Financial Arranges $16.8M Acquisition Loan for Boutique Hotel in Chicago’s Streeterville Neighborhood

CHICAGO — Cohen Financial, a division of SunTrust Bank, has arranged a $16.8 million loan for the acquisition of the Ivy Hotel in Chicago’s Streeterville neighborhood. The 16-story boutique hotel is located at 233 E. Ontario St., adjacent to the Magnificent Mile. The hotel offers 63 rooms and a rooftop bar. Cohen Financial arranged a two-year, floating-rate loan with Prime Finance. The borrower, a joint venture between Avantgarde Capital and Anderson Hospitality Holdings, plans to make …

Colliers Negotiates 137,560 SF Lease for Samsung North American Headquarters in Auburn Hills, Michigan

AUBURN HILLS, MICH. — Colliers International has negotiated a 137,560-square-foot industrial lease at 50 Continental Drive in Auburn Hills for Samsung SDI America Inc. Magnum Industrial Building Co. will complete a $62.7 million high-volume battery pack manufacturing facility on behalf of the tenant. The facility will serve as the center of Samsung’s automotive battery operations, as well as its North American headquarters, research and development tech center and manufacturing operations. …

Next Realty Acquires Medical Office Property in Arlington Heights, Illinois

ARLINGTON HEIGHTS, ILL. — Next Realty Fund IX LP has acquired Arlington Executive Plaza, a medical office complex consisting of six single-story buildings in Arlington Heights. The purchase price was not disclosed. The buildings total approximately 62,500 square feet and are situated on more than 6.2 acres of land. The property is 90 percent leased by tenants such as Autism Home Support Services Inc., Cooperative Computer Services, Dawe’s Laboratories, BACT Process Systems Inc., Arlington …

Manhard Consulting Signs 17,989 SF Office Lease at Lincolnshire Corporate Center in Illinois

LINCOLNSHIRE, ILL. — Manhard Consulting has signed a 17,989-square-foot office lease at 1 Overlook Point within Lincolnshire Corporate Center. Manhard Consulting is a full-service civil engineering and surveying firm. The company was previously based in Vernon Hills. The office property recently underwent a renovation with a new amenity center. Nicholas Panarese of Van Vlissingen and Co. represented the landlord, Van Vlissingen and

Entertainment, Dining Drive Success at Today’s Retail Center

Over the course of the last decade, we have seen a major evolution in retail real estate. Super regional malls and enclosed shopping centers, which once dominated the landscape, are being replaced by immersive, open-air centers that provide visitors with more than just a place to shop.  Successful retail centers today are a destination — they provide excellent food and dining, aesthetically pleasing environments with open public space, and entertainment tenants and events that engage …

M&T Realty: Seniors Housing will be a Bright Spot for Lending for Years to Come

  Seniors housing seemed to rule the roost among attendees at MBA’s CREF 2019. Mark Gould, national production manager at M&T Realty Capital Corporation, thinks he knows why. The obvious answer would be the aging Boomer population, which will continue to require additional services for some time. However, Gould believes it’s more than demographics. He asserts that a tangible evolution has taken place among seniors housing operators that has made these dwellings more …

Summit Design + Build Completes Renovations at Two Chicago Music Venues

CHICAGO — Summit Design + Build LLC has completed renovations at the House of Blues and the Aragon Ballroom, two Chicago music venues. Summit remodeled the VIP areas at each venue. At the Aragon Ballroom, Summit renovated the first-floor staff offices and expanded the restrooms. At the House of Blues, Summit remodeled the third-floor Foundation Dining Room. The project also included a new bar with custom windows, new flooring and lighting and the addition of a small stage. RLE Partners and …

Greystone Bel Arranges $3.2M Sale of Apartment Property in Michigan

GRAND LEDGE, MICH. — Greystone Bel Real Estate Advisors has arranged the $3.2 million sale of a 50-unit apartment property in Grand Ledge, about 12 miles west of Lansing. The building, constructed in 1906 and renovated in 1988, is located at 115 Perry St. Buyer and seller info was not disclosed, but the asset traded at a cap rate of 7.1

TBI Signs 27,484 SF Office Lease in Chicago

CHICAGO — TBI Inc. has signed a 27,484-square-foot, full-floor lease at International Tower in Chicago. The 300,000-square-foot office building is located at 8550 W. Bryn Mawr Ave. In conjunction with the lease, landlord Golub & Co. will begin a revitalization of the building with new amenities, including a fitness center, yoga room, conference center and tenant lounge. The renovations are expected to be completed this year. TBI, a technology distributor, is moving from its previous …

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