CLEVELAND — The NRP Group has opened The Davis, a 52-unit affordable housing community in Cleveland’s Glenville neighborhood. NRP partnered with University Hospitals to develop the project, which also includes the UH Community Wellness Center. The project marks NRP’s third “Health and Housing” development. Each of these affordable housing communities was created in partnership with the City of Cleveland. The UH Community Wellness Center offers healthy cooking demonstrations, a Food For Life Market, support for pregnant women and young mothers, programs to combat senior citizen isolation, telehealth services and training in workforce and financial literacy. The Davis is located on the site of the former Harry E. Davis Elementary School, which has sat vacant since 2006. Harry E. Davis was a Cleveland native who served four consecutive terms in the Ohio State House before becoming the first African American member of the Cleveland Civil Service Commission and serving as an Ohio State Senator. The property comprises one-, two- and three-bedroom units along with four-bedroom townhomes. Residents must earn at or below 60 percent of the area median income. Amenities include a community room, fitness center, playground, business center and laundry facilities. RDL Architects served as the architect. Ohio Finance Housing …
CHICAGO — The Building Owners and Managers Association of Chicago (BOMA/Chicago) has selected 190 S. LaSalle St. for its new headquarters. The organization signed a 6,257-square-foot lease. The relocation was precipitated by the sale of 115 N. LaSalle St., BOMA’s current home, to the State of Illinois last year. BOMA expects to take occupancy of its new office in February. MRSA Architects is the architect for the build-out of the space.
ELGIN, ILL. — McShane Construction Co. has completed Hanover Landing, a 40-unit permanent supportive housing community in Elgin. The affordable housing development serves vulnerable populations and individuals with disabilities. UPholdings was the developer. The building rises three stories at 711 E. Chicago St. Units are offered in one-bedroom, one-bathroom floor plans that enable residents to live independently. Amenities include a community lounge, computer room, fitness center, laundry facilities and outdoor space. Services for residents include case management, life skill training and employment assistance. Hanover Township partnered with UPholdings and the Housing Opportunity Development Corp. on the project. Ecker Center for Behavioral Health is the service provider and will operate an onsite clinic. Hooker DeJong served as architect.
LOVES PARK, ILL. — American Street Capital (ASC) has arranged a $4.2 million CMBS loan for the refinancing of an apartment complex in Loves Park, about five miles north of Rockford. Built in 1969, the complex consists of 60 units across eight buildings. Units come in one-, two- and three-bedroom layouts. Igor Zhizhin of ASC arranged the 10-year loan, which features a fixed interest rate and two years of interest-only payments. The borrower was a seasoned owner-operator in the market.
OAK BROOK, ILL. — A joint venture between Remedy Medical Properties and Kayne Anderson Real Estate has acquired the RUSH Oak Brook Medical Center in the Chicago suburb of Oak Brook. RUSH University System for Health sold the property for nearly $71 million, according to Crain’s Chicago Business. The three-story, 93,386-square-foot medical office building and ambulatory surgery center is 99 percent leased by RUSH University System for Health and Midwest Orthopaedics at RUSH, a division of OrthoMidwest. Located at 2011 York Road, the property was completed in 2018. Services offered at the facility include physical therapy and rehabilitation; neurosurgery; ear, nose and throat; OB/GYN; dermatology, pain management; gastroenterology; and primary care.
JANESVILLE, WIS. — Serta Simmons Bedding (SSB) has opened a 500,000-square-foot manufacturing plant in Janesville, a city in southern Wisconsin. The facility will produce mattresses and other bedding products under the Serta, Beautyrest and Simmons brands. The plant will be responsible for more than 300 jobs in the local economy, and SSB expects to create additional jobs at the plant over the next few years. Located at 200 Innovation Drive and developed by Zilber Property Group, the new facility consolidates two Rock County plants that were located in Beloit and Janesville. The plant is one of 18 manufacturing plants across the U.S. and Canada operated by SSB. An additional five Serta plants in the U.S. are operated by licensing partners.
LITTLE CANADA, MINN. — Colliers Mortgage has provided a $26.7 million Fannie Mae loan for the refinancing of Montreal Courts Apartments in Little Canada, a northern suburb of St. Paul. The 444-unit multifamily property features a pool, fitness center, community room, playground and laundry facilities. Tony Carlson and Ben Fazendin of Colliers Mortgage originated the 10-year loan on behalf of the undisclosed borrower.
NORTH AURORA, ILL. — Nova Medical Products has signed a 91,956-square-foot industrial lease at 410 Smoke Tree Plaza in North Aurora, about 40 miles west of Chicago. The facility is located within the Park 88 Logistics Center and is slated for completion in the second quarter of 2024. Relocating from McCook, Nova will occupy 55 percent of the 165,928-square-foot building. Kenneth Franzese and John Cassidy of Lee & Associates represented the tenant, which is a manufacturer and distributor of medical equipment products such as cranes, crutches, transport chairs and knee scooters. John Whitehead and Jack Brennan of NAI Hiffman represented the landlord, TradeLane Properties.
MOUNT PROSPECT, ILL. — Principle Construction has completed an 80,053-square-foot speculative warehouse on behalf of developer Seefried Industrial Properties in Mount Prospect, a northwest suburb of Chicago. Located at 2240 S. Busse Road, the property features a clear height of 32 feet, 16 exterior docks, two drive-in doors, 17 trailer stalls and parking for 89 cars. Harris Architects provided architectural services and Kimley-Horn served as civil engineer. Principle also completed a 34,011-square-foot build-out for an undisclosed tenant.
By David Pudlosky and Patrick Savoie, JLL Milwaukee remains a strong office market with leasing activity showing no sign of slowing. Post-pandemic, companies took a fresh look at their workplace strategies to adjust to hybrid working environments, and many rightsized their overall square footage while adding significant amenities and attractions that provide a rewarding office experience for returning workers. Despite a smaller footprint, tenants are seeking updated, highly amenitized spaces in Class A buildings. While amenities have always been a focus for landlords, the buildings that stand out today are the ones that focus on quality amenities over quantity. For example, today’s tenant will likely not be as interested in a building lounge unless it has comfortable seating, a café, strong Wi-Fi and more. To be relevant to tenants, amenities must be high end and culture focused. We’ve seen companies like Milwaukee Tool, Fiserv, Komatsu Mining Corp. and Northwestern Mutual invest in their downtown office spaces and make commitments to bring more employees downtown, and we expect this trend to continue. Building owners can learn from what Class A building landlords are doing to drive leasing activity, and learn how investing in quality, amenity-driven spaces will likely bring in new …