WOODBURY, MINN. — CBRE has negotiated the sale of The Barrington, a 282-unit multifamily property in the Minneapolis suburb of Woodbury. The sales price was undisclosed. The property is located at 7255 Guider Drive near I-494, Woodbury Village shopping center and Tamarack Nature Preserve, a 150-acre city park. Built from 1998-2001, the community features a range of one- and two-bedroom floor plans averaging 932 square feet. Amenities include two heated pools, two community rooms, a fitness center in each building, cybercafe and dog park. Keith Collins, Abe Appert, Ted Abramson and Danny Baker of CBRE represented the seller, Tilden Fundamental Barrington Apartments LLC. The buyer was Nuveen Global Investments LLC.
Midwest
CHESTERFIELD, MO. — Tarlton has completed a $28 million renovation of the Fuhr Science Center and Logan Administration Building at Logan University in Chesterfield, a western suburb of St. Louis. The Fuhr Science Center features a new two-story, 8,000-square-foot addition to the existing 33,310-square-foot science and research building originally constructed in 1986. The center offers two state-of-the-art anatomy laboratories and associated lecture amphitheaters; a simulated imaging center; six chiropractic technique classrooms; two clinical methods classrooms; faculty offices; and student collaboration and study areas. The building is named for Logan University alumnus Arlan W. Fuhr and his wife Judi Fuhr, who bestowed a $1 million gift toward the project’s capital campaign. The $5.5 million renovation of the Logan Administration Building included the main lobby and library; a relocation of the campus bookstore; and the new construction of a testing center. Ittner Cordogan-Clark Group served as the project architect. Logan University specializes in chiropractic education.
STREAMWOOD, ILL. — Colliers has arranged the sale of a 152,304-square-foot logistics facility located just west of O’Hare International Airport in Streamwood. The sales price was undisclosed. Built on a speculative basis in 2020 by The Missner Group, the property at 800 Phoenix Lake Ave. features a clear height of 32 feet. The facility is fully leased to Pelton Sheperd Industries and ACME Furniture. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, an institutional real estate advisor. The asset sold to an Atlanta-based institutional investor. Â
COLUMBUS, OHIO — JLL’s Hotels & Hospitality group has brokered the sale of the Hampton Inn & Suites Columbus Easton for an undisclosed price. The 145-room, select-service hotel is situated near I-270, opposite Easton Town Center. The property is located five miles from the Columbus International Airport and 10 miles from the convention center. Buyer and seller information was not released.
SIOUX CITY, IOWA — Marcus & Millichap has negotiated the sale of Luma Heights Apartments in Sioux City for $3.2 million. The 91-unit apartment complex is located at 217 19th St. Colton Luchsinger of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies. The buyer plans to rebrand the property as Hill Top Flats and remodel the units.
MINNEAPOLIS — EQT Exeter has acquired 20 industrial properties in metro Minneapolis from Prologis for an undisclosed price. EQT Exeter Industrial Value Fund VI was utilized for the acquisition. EQT Exeter plans to acquire an additional four properties by the final closing date. The portfolio consists of more than 5 million square feet and features a mix of bulk, light industrial and last-mile facilities with an average building size of more than 200,000 square feet. The buildings are located across four logistics submarkets and offer proximity to I-494 and I-694. The properties are 90 percent leased by 54 tenants, of which 20 percent are existing tenants within EQT Exeter’s portfolio. The entire transaction is expected to close in the second quarter. Josh McArtor and Caitlin Clinton of Eastdil Secured arranged the transaction with assistance from Michael Caprile and Jusdon Welliver of CBRE.
WILMETTE, ILL. — JT Magen has completed a 150,000-square-foot, two-story retail store for Wayfair at Edens Plaza in the Chicago suburb of Wilmette. Opened on May 23, the project marks the first large-format store for the e-commerce home furnishings company. Wayfair took over the anchor space formerly occupied by the Carson Pirie Scott department store. JT Magen completed a gut renovation of the existing building, providing new facades, utility systems and roofing. The project also included an exterior expansion of 110,000 square feet to include a plaza, new parking lot, landscaping and storm detention center. This area also includes The Porch at Wayfair, a full-service café.
ST. LOUIS — Global design, architecture, engineering and planning firm HOK has unveiled plans to remain in downtown St. Louis once its lease expires in August 2025. The firm will keep its St. Louis office and 170 employees downtown. HOK currently works out of the Equitable Building at 10 S. Broadway, but is exploring other downtown office locations or the possibility of building out new space in the Equitable Building. HOK’s announcement came following the recent rollout of a new public-private partnership between the City of St. Louis and Greater St. Louis Inc. to accelerate efforts to revitalize the downtown area.
CHICAGO — Chicago-based Origin Investments, a multifamily investment manager, is launching a new investment program named Origin Exchange. According to Origin, the program enables qualified 1031 exchange investors to realize significant tax advantages, as well as access institutional-quality multifamily properties and estate-planning efficiencies at a fraction of typical fee structures. The Origin program establishes a Delaware Statutory Trust (DST) to acquire and manage real estate consistent with the firm’s stringent investment criteria — multifamily properties in the path of growth geographically diversified in Origin’s target markets. Interests in the DST qualify for a 1031 exchange. Origin is in final negotiations and due diligence for its first DST acquisition and will offer positions starting at $250,000. The company has appointed Michael O’Shea, an experienced professional with 17 years of work in commercial real estate, to the newly created position of vice president of Origin Exchange.
ST. PETERS, MO. — Blue Bell Creameries has opened a new 16,000-square-foot distribution facility in St. Peters, a western suburb of St. Louis. Integrated Facility Services completed a design-build fire protection project to design, procure and install interior fire sprinkler systems for the building. The system protects water-sensitive areas, including the facility’s freezer and cold loading dock. Blue Bell ice cream is sold in 23 states.