REBusinessOnline

EQ Office Completes $500M Renovation of Willis Tower in Chicago

CHICAGO — EQ Office, the U.S. office portfolio company wholly owned by Blackstone, has completed its more than $500 million renovation of Chicago’s Willis Tower. The 110-story tower is now certified LEED Platinum and is the largest building in the U.S. to achieve that designation, according to EQ Office.Part of the transformation is Catalog, a 300,000-square-foot retail, dining and entertainment destination at the base of the tower. The name Catalog is a nod to the Sears Roebuck Co. and …

Stellantis, Samsung SDI to Invest $2.5B for Electric Vehicle Battery Manufacturing Plant in Kokomo, Indiana

KOKOMO, IND. — Stellantis N.V. and Samsung SDI have formed a joint venture with plans to invest more than $2.5 billion to build an electric vehicle battery manufacturing plant in Kokomo, about 50 miles north of Indianapolis. The facility is anticipated to start production in 2025 with an initial annual production capacity of 23 gigawatt hours. The total capacity is expected to increase further as demand for Stellantis electric vehicles is expected to rise, according to a news release. The …

Stonemont, Pizzuti Underway on 1.1 MSF Spec Industrial Project in West Jefferson, Ohio

WEST JEFFERSON, OHIO — Stonemont Financial Group and The Pizzuti Cos. are co-developing a 1.1 million-square-foot speculative industrial project in West Jefferson, about 18 miles west of Columbus. Stonemont will acquire the facility upon completion, which is scheduled for the end of this summer. Named West Jeff One, the Class A project sits directly off of I-70. The development features 209 car parking spaces, 110 trailer parking spaces and a clear height of up to 40 feet. The project marks …

BH Management Services Acquires 272-Unit Apartment Community in Aurora, Illinois

AURORA, ILL. — BH Management Services has acquired Legacy at Fox Valley in Aurora for an undisclosed price. The 272-unit apartment community was built in 1998. The property recently underwent renovations to the amenities, major building systems and more than half of the unit interiors. Amenities include a clubhouse, event kitchen, outdoor heated pool, dog park and volleyball court. John Jaeger and Justin Puppi of CBRE represented the seller, White Oak

Kiser Group Arranges Sales of Two Multifamily Properties in Evanston, Illinois for $9.1M

EVANSTON, ILL. — Kiser Group has arranged the sales of two multifamily properties in Evanston for $9.1 million. In the first transaction, a 12-unit building at 1901 Sherman Ave. sold for $5.1 million. The property is situated in close proximity to Northwestern University and has historically been fully occupied. The second building comprises 15 units at 1326 Chicago Ave. and sold for $4 million. Twelve of the units have been renovated. Kiser Group’s Danny Mantis, Matt Halper and Lee Kiser …

Sentinel Acquires 404-Unit Apartment Complex in Overland Park, Kansas

OVERLAND PARK, KAN. — Sentinel Real Estate Corp. has acquired Lexington Farms Apartments in the Kansas City suburb of Overland Park. The 404-unit, garden-style apartment complex was originally constructed in 1997. Units average 972 square feet. Two-thirds of the units were recently updated, and Sentinel intends to renovate the remaining units. Amenities include a lounge area, coffee bar, two pools, tennis court, fitness center, dog park and barbecue area. The seller and sales price were not …

PCCP, United Properties Break Ground on 96,000 SF Spec Industrial Building in Suburban Twin Cities

INVER GROVE HEIGHTS, MINN. — A joint venture between PCCP and United Properties has broken ground on InverPoint 2, a 96,000-square-foot speculative industrial building in the Twin Cities suburb of Inver Grove Heights. The property will be situated at 8450 Courthouse Blvd. within the InverPoint Business Park. Completion is slated for late 2022. InverPoint 2 will feature a clear height of 28 feet, 12 dock doors, four drive-in doors, 108 surface parking stalls and five entrances. The facility …

SRS Brokers $10.3M Sale of Single-Tenant Industrial Facility in Cincinnati

CINCINNATI — SRS Real Estate Partners has brokered the sale of a 93,000-square-foot industrial facility occupied by Frisch’s Commissary Kitchen in Cincinnati for $10.3 million. Located at 3011 Stanton Ave., the property also includes an onsite research and development department that is utilized for the restaurant chain’s brand innovation. There are more than 13 years remaining on the triple net lease. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Southeast-based …

Hanley Investment Group Arranges Sales of Three Retail Properties in Suburban Chicago for $10M

PLANO, WAUKEGAN AND NEW LENOX, ILL. — Hanley Investment Group Real Estate Advisors has arranged the sales of three retail properties in suburban Chicago for roughly $10 million. In the first transaction, Lakewood Springs Commons in Plano sold for $3 million. The 26,300-square-foot center was built in 2007. Dylan Mallory, Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a private investment group based in Chicago. Greg Cline of The Cline Co. …

Newcastle Properties Acquires Boardwalk Plaza Retail Center in Skokie, Illinois

SKOKIE, ILL. — Newcastle Properties has acquired the 14,856-square-foot Boardwalk Plaza retail center in Skokie. Located at the intersection of Dempster Street and Keeler Avenue across from the Evanston Country Club, the property is home to Starbucks, SAS Comfort Shoes, Devonshire Montessori School and Albert Memi Salon. The seller and sales price were not provided. Newcastle owns and operates 82 properties in 23 states with a focus on the retail, multifamily, hospitality and office




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