NAPERVILLE, ILL. — Halsted Street Deli & Bagel is opening a 1,500-square-foot location at Park Plaza, an office building in the Chicago suburb of Naperville. Accesso owns the building. Slated to open in January, the restaurant will be accessible to tenants of the property as well as the general public. Halsted Street Deli is known for its soups, salads, sandwiches and bagels. The Naperville location will be open from 7:30 a.m. to 2 p.m. each day.
CLEVELAND — A partnership between Detroit-based developer Bedrock and the City of Cleveland has unveiled plans for the Cuyahoga Riverfront, an initiative that will feature 3.5 million square feet of new development and adaptive reuse projects across 35 acres of publicly and privately owned waterfront land. According to multiple news outlets including The Plain Dealer and Spectrum News, the project is valued at $3.5 billion. Preliminary plans for the site call for the addition of approximately 2,000 residential units, 850,000 square feet of office space and 12 acres of open public space, as well as hospitality, retail and restaurant uses. The development team is targeting a 15- to 20-year timeline for full buildout and transformation of the site. In addition, Bedrock partnered with Sherwin-Williams Co. to acquire Landmark Office Towers and the Breen Technology Center. Specific plans regarding the future use of these buildings were not immediately disclosed. The development team — which includes master architect David Adjaye, local firm Osborn Engineering and urban planning firm MKSK — views the site as a natural connective bridge between the Cuyahoga River and downtown Cleveland. Adjaye spent the last several months in Cleveland cultivating a plan to make that vision a reality. …
CHICAGO — Metro Edge Development Partners has unveiled plans to build a $257 million data center within the Illinois Medical District (IMD) in Chicago. Construction is scheduled to begin in 2023 and be completed in 2024. Metro Edge secured a 75-year ground lease on a nearly two-acre parcel owned by IMD. The data center will rise five stories and span 184,720 square feet. The facility is 50 percent preleased. Corgan is the project architect. Clune Construction is overseeing all construction in partnership with Power Construction and Ujamaa Construction. T5 Data Centers is the project manager.
CHICAGO — NASCAR has opened an office at Two Prudential Plaza in downtown Chicago. Dubbed “One Two Pru,” the two-building office complex spans 2.3 million square feet and features amenities such as a rooftop terrace, lounge, conferencing facilities and health club with Peloton bikes. NASCAR recently announced that it would be hosting the Chicago Street Race in July. The 2.2-mile race will take place downtown and is expected to have an economic impact of $113.8 million. Clark Evans and Kevin Morgan of JLL represented NASCAR in the three-year lease for 4,250 rentable square feet. The landlord was undisclosed.
ZION, ILL. — Industrial Outdoor Ventures (IOV) has acquired two parcels totaling 56 acres in Zion, a city in northeast Illinois near the Wisconsin border. Named Trumpet Park Spec Development, the project will consist of a pair of industrial service facilities (ISFs). Project costs are estimated at $35 million. The development will feature up to 1,200 truck trailer parking spaces and more than 26,000 square feet of maintenance and service buildings. ISFs provide supply chain infrastructure solutions to industries such as transportation, bulk material distribution, last-mile logistics, heavy equipment and utilities. The project marks IOV’s first ground-up development in the Chicago market. The design team includes Spaceco, which will provide civil and surveying services, and Arete Design Studio, which will provide architecture, planning and design services. Construction is expected to begin in spring 2023 and be completed in the fourth quarter of 2023. Chris Volkert, Ned Frank and Jeff Devine of Colliers represented the institutional seller in the land sale. Volkert and Frank, along with colleague Pat Hake, will market the project for lease.
WESTMONT, ILL. — Cambridge Realty Capital Cos. has provided an $18.1 million HUD Lean loan for the refinancing of Bria of Westmont, a 215-bed skilled nursing facility in the Chicago suburb of Westmont. Bria of Westmont provides a range of skilled services and programs, including short-term rehabilitation, long-term care, orthopedic rehabilitation, cardio-pulmonary rehabilitation, onsite hemodialysis, wound care, cardiac care, ventilator therapy, aquatic therapy and behavioral healthcare. Andrew Erkes of Cambridge originated the 35-year loan, which features a 35-year amortization schedule. The borrower was an Illinois-based limited liability company.
SHEBOYGAN, WIS. — Marcus & Millichap has brokered the sale of the Champion Storage portfolio in Sheboygan, about 55 miles north of Milwaukee. The sales price was undisclosed. The portfolio totals five properties and 1,167 units. At the time of sale, the portfolio was 95 percent occupied. The facilities feature both climate-controlled and non-climate-controlled units as well as outdoor parking spaces and portable container units. Sean Delaney of Marcus & Millichap represented the seller, JGSS LLC, and the buyer, Rogers Equity Group IV LLC.
CHICAGO — A duo of Chicago-based developers, Riverside Investment & Development and Convexity Properties, has completed 320 South Canal, an office tower located across the street from the Chicago Union Station in the city’s West Loop district. The 51-story tower is situated on 2.2 acres and totals more than 1.7 million gross square feet. The building is anchored by Montreal-based BMO Financial Group, which has building signage and will use 320 South Canal as its new U.S. headquarters. Other tenants include the National Futures Association and law firms Chapman & Cutler, Faegre Drinker and Skadden, Arps, Slate, Meagher & Flom. Designed by Chicago-based architecture and planning firm Goettsch Partners (GP), 320 South Canal includes a conference facility, fitness and wellness center, restaurant, a café for to-go food options, bank branch and a cocktail lounge, as well as parking for 324 vehicles and 114 bicycles. The building is connected to the Chicago Union Station through an enclosed pedway and offers access to the Metra train concourse, Amtrak train routes and the LoopLink CTA bus lines. The site also features The Green at 320, a privately owned, publicly accessible park completed earlier this year. The Green comprises 1.5 acres organized around a …
EAGAN, MINN. — Minneapolis-based developer Davis is developing a 35,000-square-foot multispecialty clinic and ambulatory surgery center in the Twin Cities suburb of Eagan. The Class A medical office building will be anchored by Midwest Surgery Center, which has signed a lease for 27,000 square feet. Midwest Surgery Center, which is a partnership between Midwest ENT and St. Paul Eye, also operates a location in Woodbury, Minn. The Eagan facility is slated for completion in December 2023. The project team includes Minneapolis-based Synergy Architectural Studio and Plymouth, Minn.-based Timco Construction Inc.
CARMEL, IND. — Kimley-Horn, a planning and design consultancy firm, has signed a 29,737-square-foot office lease at Parkwood Crossing in the Indianapolis suburb of Carmel. The tenant is expanding from its original 9,779-square-foot space and relocating to a new building within Parkwood Crossing. Owner Rubenstein Partners LP is completing a substantial capital improvements program at the building. Parkwood Crossing comprises eight buildings and 1.2 million square feet. Rubenstein acquired the development in 2016 and completed renovations and additions such as a 14,000-square-foot amenity center. Traci Kapsalis, John Robinson and Brittany Shuler of JLL represented Rubenstein in the lease transaction. Hayden Rasmussen of Savills and Kevin Dick of Bradley Co. represented Kimley-Horn.