CHICAGO — Trammell Crow Co. (TCC), a Texas-based developer, has unveiled plans for Fulton Labs, a 423,454-square-foot life science facility in the Fulton Market neighborhood of Chicago. Located at 400 N. Aberdeen St., Fulton Labs will span 16 floors, with 12 floors of wet or dry lab space, dependent on the tenant’s needs. The lab space will be equipped for drug, chemical and biological testing as well as digital research and analysis. The facility’s 34,000-square-foot, column-free floor plates will be able to accommodate small startups as well as multi-floor tenants. The building will also feature passenger and freight elevators, as well as chemical and equipment storage space for tenants. “With Fulton Labs’ advanced research and development infrastructure, flexible lab spaces, and full floor launchpad for early stage companies, we are confident that this facility will help to promote growth in the Midwest’s life science industry,” says Grady Hamilton, managing director of TCC’s Midwest Business Unit. The building will feature 35,000 square feet of amenity space, which will include a health and wellness center, a 190-person collaboration center, a rooftop fire lounge and two private balconies per floor. The property will offer access to interstates 90, 94 and 290, as well …
Illinois
NAPERVILLE, ILL. — McShane Construction Co. has completed the construction of Avenida Naperville, a 146-unit senior living community in Naperville. Reserved for adults age 62 and older, the six-building property is geared toward residents who want to maintain an active lifestyle. Residents have access to 13,000 square feet of amenity space, including a clubhouse with a bistro, fitness and yoga studios, a theater, library, private dining room and arts studio. Outdoor amenities include a pool, game lawn and barbecue areas. Meeks + Partners designed the community. Avenida Partners is the developer and owner.
CHICAGO —BlockPoint, a project development and general contracting company, has acquired Pacific Construction, a general contractor, construction management and development services firm. The purchase price was undisclosed. Both companies are based in Chicago. Pacific, which will continue to operate under its same name, has built projects such as the Fermilab R&D building in Batavia, the Adler Planetarium in Chicago and military bases around the state such as the Army Reserve Center in Fort Sheridan. Pacific works in the institutional and public works, healthcare, retail, restaurants and multifamily sectors.
CHICAGO — Chicago-based Frontline Real Estate Partners LLC, Four Corners Advisors Inc. and Aries Capital LLC have formed a joint venture known as Frontline Real Estate Partners: Hospitality Division. The venture will provide competitive marketplace analysis, broker valuations, financing services, receivership management and disposition services aimed at hotel, luxury resort and gaming properties valued at $5 million to more than $100 million. “The hotel market is facing a downturn unlike any we’ve experienced in recent history owing to the global pandemic,” says Michael Schindler, president and CEO of Four Corners Advisors. “Hotel owners are finding it necessary to defer loan payments or enter forbearance agreements, all of which are likely to expire before the market can fully recover. This is creating an unprecedented need for financing and receivership analysis, as well as expert guidance on how to best generate maximum recovery for lien holders.”
CHICAGO — Johnstone Supply has leased an entire industrial building located at 4150 N. Knox Ave. in Chicago. Dayton Street Partners completed development of the 41,000-square-foot property in late 2017. The facility features a clear height of 30 feet, six docks, four drive-in doors and parking for 55 cars. Matt Cowie, Larry Goldwasser, Colin Green and John Marks of Cushman & Wakefield represented Dayton Street in the lease. Brendan Green of Colliers International represented Johnstone, which is a Portland, Ore.-based wholesale distributor of HVAC equipment and supplies. Johnstone will use the building as a showroom and distribution hub.
CHICAGO — Ascend Real Estate Group has delivered Superior House, a 12-story, 33-unit luxury condominium tower located at 366 W. Superior St. in Chicago’s River North neighborhood. @properties Developer Services is the exclusive sales and marketing firm for the project, which is currently 70 percent sold. Prices range from $1.8 million to $2.5 million. FitzGerald Associates Architects designed the building to include only four units per floor in order to increase privacy and natural light. Power Construction was the general contractor and Gary Lee Partners designed the interiors and amenity spaces, which include a rooftop deck, outdoor bar and lounge, vegetable garden, fenced dog run, entertainment room and fitness center.
CHICAGO, LYONS AND BARTLETT, ILL. — JLL Capital Markets has brokered the sale of a three-property cold storage portfolio totaling 712,051 square feet in metro Chicago for an undisclosed price. The facilities are located in Chicago, Lyons and Bartlett. They are fully leased to 11 tenants. John Huguenard, Ed Halaburt, Sean Devaney, Kurt Sarbaugh and Robin Stolberg of JLL represented the seller, Investcorp. Lineage Logistics, which is controlled and operated by Bay Grove, purchased the assets.
SCHILLER PARK, ILL. — MidAmerica Printing Systems Inc. has signed a 30,550-square-foot industrial lease at 3838 River Road in Schiller Park near the Chicago O’Hare International Airport. The facility totals 65,082 square feet and sits on 3.5 acres. It features four interior docks, three drive-in doors and 30 trailer stalls. The printing company will move from 1716 W. Grand Ave. in Chicago once the lease commences in July. Tom Rodeno and Matthew Stauber of Colliers International represented the landlord, Brennan Investment Group. The remainder of the building is available for lease.
EDWARDSVILLE, ILL. — Meridian Design Build has completed the construction of a 673,920-square-foot speculative industrial building in Edwardsville within metro St. Louis. Exeter Property Group was the developer. The new facility is located on a 135-acre parcel within Gateway Commerce Center. The building features a clear height of 36 feet, 132 loading docks, four drive-in doors, 398 auto parking stalls and 171 exterior trailer stalls. JRA Architecture and Stock & Associates Consulting Engineers Inc. made up the project team.
EAST PEORIA, ILL. — Panera Bread has opened a new location at The Levee District in East Peoria in central Illinois. The 4,380-square-foot restaurant is located at 496 W. Washington St., across from Target. Panera Bread relocated from Camp Street Crossing. The new location features a drive-thru and outdoor patio. While full access to the dining room is not yet available due to COVID-19 restrictions, the restaurant is offering curbside pickup, contactless delivery, drive-thru and catering. Cullinan Properties Ltd. owns The Levee District.