ELK GROVE VILLAGE, ILL. — Colliers has arranged the sale-leaseback of a 49,793-square-foot industrial service facility in the Chicago suburb of Elk Grove Village. The sales price was undisclosed. Located at 700 Chase Ave., the property is home to RT Group Logistics. The trucking company signed a lease to remain at the property, which includes a truck maintenance facility with parking for 40 trailers. Patrick Turner, Tom Rodeno and Joe Connor of Colliers represented RT Group in the sale. The undisclosed buyer plans to make improvements to the property when the tenant’s lease expires in three years.
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Part 2: How to Promote Collaboration, Efficiency in Life Sciences Innovation Districts Via Design
In the biotech and pharmaceutical sectors, life sciences innovation districts have become hubs not only for research and development but also for cooperation and inspiration between cohorts. These districts, often called innovation districts, collect together companies, research institutions, supporting entities, housing and more. Innovation districts necessitate meticulous planning and design strategies to promote scientific inquiry and efficiency. “Municipalities, schools, corporations and organizations that have close ties to their state are piloting life sciences innovation district development, allowing them to group otherwise separated uses — work, recreation, living areas and more — together. When you pair these institutions and include innovative site and building programming in a single location, you move beyond disconnected projects and amenities to a united innovation district that can magnify benefits across organizations,” explains Dan Danvers, a landscape architect project manager with Bohler, a land development consulting and site design company. This article is the design-focused component of our two-part series on life sciences innovation districts. If you would like to read about the planning component of these complex developments, please read our first article here. Moving Life Sciences Innovation Districts Forward Innovation districts must keep pace with evolving technologies and research. Life sciences industries are continually progressing, …
HILLIARD, OHIO — Tempus Realty Partners has sold a 114,485-square-foot industrial building in Hilliard, a northwest suburb of Columbus. An entity doing business as DP 149 LLC purchased the asset for $7.6 million. The property is fully leased to metal fabricator S&G Manufacturing and features seven dock doors, three overhead doors and clear heights ranging from 20 to 24 feet. Tempus, an Arkansas-based real estate investment partnership, acquired the building in December 2020 for $5.7 million.
CHESTERFIELD, MO. — Keystone Construction Co. has completed Hub Stl, a $4 million outdoor entertainment space at The District of St. Louis in Chesterfield. The District is devoted to live music, food and beverage concepts and retail space. Construction on Hub Stl began last fall with the demolition of the Polo Building. Keystone built a performance stage, 70 feet by 21 feet, with a synthetic turf field viewing area with capacity for 400 people. A large LED screen and sound and lighting system will be installed later this summer. The performance area will be encircled by local restaurants with patios, a brewery and beer garden. Anticipated to open later this summer is 4 Hands Brewing Co., which will occupy the anchor space with a 10,000-square-foot taproom. Hi-Pointe Drive-In, the brewery’s culinary partner, will operate a fast-casual dining concept within the space. Keystone previously built two other destinations within The District — Main Event and The Factory. Main Event is a 50,000-square-foot indoor entertainment center with 22 lanes of bowling, laser tag, gravity ropes and hundreds of arcade and virtual reality games. The Factory is a 52,000-square-foot indoor concert venue with seating for up to 3,400 people. It was the first …
LESLIE, MICH. — Friedman Real Estate has brokered the sale of a 123,596-square-foot industrial facility in Leslie, about 24 miles south of Lansing. The sales price was undisclosed. The property sits on nearly 15 acres at 815 Rice St. Friedman’s Ryan Stipp represented the seller. Additional terms of the transaction were not provided.
ROCKFORD, ILL. — Quantum Real Estate Advisors Inc. has arranged the sale of an 82,500-square-foot property occupied by grocer Schnucks in Rockford for an undisclosed price. Originally built in the 1950s, the net-leased building at 2642 Charles St. has undergone a full renovation. Dan Waszak and Brett Berlin of Quantum represented the seller, a developer based in California. The buyer was a private, institutional investor based in California.
MOUNT PROSPECT, ILL. — Marcus & Millichap has negotiated the $3.6 million sale of an 11,010-square-foot retail center in the Chicago suburb of Mount Prospect. Dunkin’ anchors the property, which is located at 200 W. Northwest Highway. The center is fully leased. Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a Chicagoland-based limited liability company. The duo also secured and represented the buyer, a local private investor. The sale closed at 97 percent of the list price.
MANHATTAN, Kan. — McCarthy Mortenson NBAF, a joint venture between builders McCarthy Building Cos. and Mortenson Construction, has completed the National Bio and Agro-Defense Facility (NBAF) in Manhattan, approximately 55 miles west of Topeka and 115 miles west of Kansas City. Development costs for the animal disease research facility were estimated at $940 million. Developed to ensure public health and the safety and security of the nation’s food supply, the 707,000-square-foot facility is located on a 48-acre site. It is designed with stringent containment, blast-resistant and anti-terrorism requirements, as well as the Nuclear Regulatory Commission (NRC) high-wind design criteria adopted by the Department of Homeland Security. NBAF features laboratories functioning at multiple biosafety levels, including the first facility in the United States with biosafety level 4 containment capable of housing large livestock. The lab portions total 574,000 square feet, while the freestanding, 87,000-square-foot Central Utility Plant houses boilers, chillers, emergency diesel generators and other support elements for the main laboratory facility. In addition to having multiple laboratories, NBAF will also have a biologics development module to explore the development and production of potential vaccines, diagnostic platforms and veterinary medical countermeasures. The property will functionally replace the aging Plum Island Animal …
LEE’S SUMMIT, MO. — Avanti Residential has acquired the 308-unit Summit Square apartment community in the Kansas City suburb of Lee’s Summit for $80 million. Avanti now owns eight apartment properties in the greater Kansas City market. Built in 2018, Summit Square is located at 789 NW Donovan Road. Mac Crowther and Whittaker Potts of Newmark represented the seller, NorthPoint Development. Avanti owns and operates more than 8,000 apartment units in Colorado, Arizona, Utah, Florida and metro Kansas City.
AURORA, ILL. — Seefried Industrial Properties and Endeavour’s Edged Energy division have broken ground on a three-building data center campus in Aurora. Located on a four-way interchange at I-88 and Eola Road, the 65-acre project will be constructed in phases. The first building is slated for completion in June 2024. The project will feature sustainable initiatives such as advanced waterless cooling technology, electric vehicle charging and onsite solar panels. ComEd, the electrical company serving northern Illinois, is providing the infrastructure needed to power the new campus from its nearby regional substation. Seefried and Edged Energy also intend to add a new substation on site to support future phases of development. FCL Builders is the general contractor, Ware Malcomb is the architect and Kimley-Horn is the civil engineer. Paul Roeser and Ryan O’Leary of KBC Advisors represented Edged Energy on the transaction, while Jim DeRose and Michele Keller of DuPage Property Venture represented the land seller.