CHICAGO — ScalpTrade, a proprietary trading firm, has signed a 13,000-square-foot office lease at 425 S. Financial Place in Chicago’s Central Loop. The company will occupy space on the 36th floor for its corporate headquarters. CIM Group owns the 40-story, 1 million-square-foot office property, which underwent renovations in 2015 and is certified LEED Gold. In addition to a cafeteria, conference centers, concierge services, tenant lounge and outdoor terrace, the property also houses the Buckingham.AC, a private social and athletic club, and the 21-room Buckingham Hotel.
MAYFIELD HEIGHTS, OHIO — Marcus & Millichap has arranged the $4.2 million sale of a two-tenant retail property in Mayfield Heights, an eastern suburb of Cleveland. Located at 5930 Mayfield Road, the 14,557-square-foot property is fully occupied by NTB and Moe’s. CJ Jackson, Craig Fuller, Erin Patton and Scott Wiles of the Patton Wiles Fuller Group at Marcus & Millichap represented the private, Ohio-based seller. The team also secured and represented the buyer, a REIT.
WAUNAKEE, WIS. — Lee & Associates has brokered the $2.5 million sale of a 24,000-square-foot industrial building in Waunakee, a northern suburb of Madison. The property is located at 904 Bethel Circle. Blake George of Lee & Associates represented the seller, Golden Properties LLC. Stimac Holdings LLC, a company that designs and manufactures video games, was the buyer.
NEW ALBANY, OHIO — AmplifyBio, a biotechnology contract research organization, will invest approximately $150 million for a new 350,000-square-foot facility in New Albany, about 15 miles northeast of Columbus. The company plans to generate 263 new jobs between the new facility and its existing property in West Jefferson. AmplifyBio says it is expanding to meet surging market demand for advanced therapies, including cell and gene therapy products. The new property at 9885 Innovation Campus Way in New Albany will create 132 jobs. A timeline for construction was not provided.
ANN ARBOR, MICH. — KIRCO has completed a new innovation center and regional headquarters for Wacker Chemical Corp. in Ann Arbor. The 140,000-square-foot project sits on 18 acres at 4950 S. State Road and represents a more than $50 million investment. Wacker chemists, scientists and senior leadership that previously worked out of separate Michigan locations are now able to collaborate in a single environment. The innovation center houses labs, open workspaces, a full-service cafeteria and a fitness center.
MOBRIDGE, S.D. — The North Dakota office of Kraus-Anderson has begun a $36 million expansion and renovation of Mobridge Regional Hospital and Clinics in Mobridge, a city in South Dakota situated along the Missouri River. The campus includes a 25-bed critical access hospital, four federally certified rural health clinics, a 24-bed assisted living and seniors housing center and a rural ambulance service. The expansion project will include a new patient wing, surgery suite and ambulance garage, as well as 63,000 square feet of upgrades to the hospital’s emergency room department, surgery suite, imaging, dining area and support offices. Davis Partnership Architects is the project architect. Completion is slated for spring 2025.
NORTHLAKE, ILL. — Cresa Chicago has arranged the sale-leaseback of a 48,340-square-foot warehouse located at 11697 W. Grand Ave. in Northlake, a western suburb of Chicago. The building features a clear height of 24 feet, six docks and two drive-in doors. Ed Lowenbaum, George Mack and Mike Duncan of Cresa represented the seller, CTL Global Inc., which provides fulfillment and logistics solutions. Faropoint Ventures LLC purchased the asset for an undisclosed price. Faropoint’s Jordan Kovalsky led the firm’s in-house acquisition team. CTL constructed the facility in 2003.
LANSING, MICH. — Detroit Wing Co. has leased a 1,900-square-foot space at 6527 S. Cedar St. in Lansing for a new restaurant location. Based in Eastpointe, Detroit Wing Co. opened in 2015 and offers homemade wings and 19 signature sauces. Jack Brown, Troy Yensen and Brandon Hess are franchising the new restaurant. Jeff Ridenour and Shawn O’Brien of Colliers Lansing represented the landlord, Wolverine Development Corp., which redeveloped the property about five years ago. Detroit Wing Co. will be situated next to a Tropical Smoothie Café location and is expected to open in late July.
MENOMONEE FALLS, WIS. — Kohl’s (NYSE: KSS) has announced plans to increase its investment in brick-and-mortar with the addition of 100 new, smaller-format locations over the next four years in previously untapped markets. This expansion follows the pilot of 20 stores featuring the company’s smaller-format design, which averages around 35,000 square feet versus the traditional 80,000-square-foot iteration. In June, the Menomonee Falls-based company will be opening a smaller-format shop in Bonney Lake, Wash., and in the fall, stores are set to open in San Angelo, Texas; Morgantown, W.Va.; Tacoma, Wash.; and Lenox, Mass. Alongside the addition of these new locations, Kohl’s will be modernizing its existing 1,165-store portfolio by transforming the flow of its interiors to include dedicated discovery zones with products from diverse- and female-owned companies. The company will also be expanding its partnership with beauty retailer Sephora through the addition of 850 of its Sephora at Kohl’s shop-in-shops by 2023. Sephora at Kohl’s shops, which typically occupy 2,500 square feet toward the front of the store, offer an expanded collection of the San Francisco-based retailer’s make-up, skin- and hair-care, and fragrance offerings. Kohl’s has also announced plans to roll-out omnichannel initiatives over the next year, including the ability …
Wichita experienced considerable retail and restaurant expansion throughout 2021, with other new stores planned for 2022. The two biggest new players to Wichita include Top Golf at 29th Street and Greenwich Road, now under construction, and Scheel’s entering the market with a new 220,000-square-foot store to be located in the former Sears space at Towne East Square. Top Golf is anticipated to open in late 2022, spurring more retail activity on North Greenwich. Furniture stores have been actively backfilling big boxes, including Bob Mills who took the former Michael’s, and Wichita Furniture, a strong regional player, taking the former 100,000-square-foot Kmart building on West Kellogg/US-54. Discount stores have continued to find a way to open more locations to increase their footprints in the market, both new construction and conversion of former retail spaces. Ollie’s Bargain Outlet opened its west store at Central and Ridge roads, and is also opening a store at Brittany Center. Quick-service restaurants (QSRs) have been active, including two new locations opening in 2022 for Dunkin’ and several new Dutch Bros Coffee locations as they enter the market as well in late 2022 and 2023. Tropical Smoothie Café opened a location last year and Smoothie King …