ENGLEWOOD, OHIO — Huey Magoo’s has opened its first restaurant in the state of Ohio in Englewood, a northern suburb of Dayton. The 2,500-square-foot building, located at 9196 N. Main St., is the 27th restaurant nationwide for the chicken tenders brand. The Englewood restaurant will offer dine-in, take out, curbside pickup and delivery through third-party services Uber Eats and DoorDash. Huey Magoo’s franchisees Tim and Ronda Hobart will operate the restaurant.
CHICAGO — A joint venture between CRG and Shapack Partners has acquired the former Bridgford Foods Corp. food processing facility in Chicago’s Fulton Market district with plans to redevelop the site into a 750,000-square-foot mixed-use project. The development is slated to feature 250 apartment units, 350,000 square feet of Class A office space, 150 boutique hotel rooms and 40,000 square feet of retail space. Located at 170 N. Green St., the project site spans nearly an entire city block near the Chicago Transit Authority Pink Line and Green Line station at Lake and Morgan streets. CRG’s parent company, Clayco, will serve as general contractor and its subsidiary, Lamar Johnson Collaborative, is the architect. Paige O’Neil and Annie Kwasigroch of Shapack will oversee lease-up of the office and retail space. CRG anticipates that construction could begin as early as this fall. A timeline for completion was not provided. “This location is a tailor-made opportunity to meet the overwhelming trend of flight to quality we are seeing in the city,” says CBRE’s Keely Polczynski, who represented Bridgford in the sale. “Employers are investing in upgraded spaces to boost employee engagement as well as attract and retain talent.” According to CBRE, 60 office …
BROOKLYN PARK, MINN. — Taco Bell has opened its new and innovative drive-thru prototype in the Minneapolis suburb of Brooklyn Park. Coined Taco Bell Defy, the two-story restaurant features four drive-thru lanes. A proprietary vertical lift transports food items straight from the kitchen to guests. The drive-thru experience at Taco Bell Defy is designed to be two minutes or less. The restaurant was built in partnership with longtime franchisee Border Foods. Minneapolis-based Vertical Works Inc. handled the design of the concept. The project was first announced last year.
MENOMONEE FALLS, WIS. — The board of directors of Kohl’s Corp. (NYSE: KSS) has entered into exclusive negotiations with Franchise Group Inc. (FRG) for a period of three weeks in relation to FRG’s proposal to acquire Kohl’s for $60 per share. The purpose of the exclusive period is to enable FRG and its financing partners to finalize due diligence and financing arrangements and for the parties to complete the negotiation of binding documentation. The transaction remains subject to approvals of the board of directors of both companies. Menomonee Falls-based Kohl’s says it remains focused on selecting the path that maximizes value for all Kohl’s shareholders. Kohl’s operates more than 1,100 stores in 49 states. Its stock price closed at $42.12 per share Monday, June 6, down from $54.34 per share one year ago. FRG is a holding company of a collection of brands, including the Vitamin Shoppe.
CHICAGO — Stan Johnson Co. has brokered the sale of an 83,652-square-foot retail building in Chicago for $13.7 million. Located along North Cicero Avenue, the property is leased to Ross Dress for Less and its affiliate brand, dd’s Discounts. Both retailers operate under a single master lease. Mike Sladich of Stan Johnson represented the seller, an Illinois-based institutional investor. A California-based REIT acquired the asset.
CHICAGO — Greenstone Partners has negotiated the sales of three properties in Chicago’s Wicker Park neighborhood for roughly $7.8 million. Brewster Hague of Greenstone represented the sellers in each transaction and procured the buyers. In the first transaction, a 5,000-square-foot retail condo at 1725 W. Division St. sold for $2.3 million. A New York-based family office sold the asset to a Florida-based family office. Danny Spitz of Greenstone assisted in representing the seller. In the second sale, a seven-unit apartment and retail building at 1670 W. Division St. sold for $3.2 million. Bangers & Lace is the ground-floor retail tenant. In the last transaction, a six-unit apartment and retail property at 1920 W. Division St. sold for nearly $2.3 million. Milk & Honey Café occupies the ground-floor space. A California-based private individual from a Chicago-based family office purchased both 1670 W. Division St. and 1920 W. Division St.
HIGHLAND PARK, ILL. — Mid-America Real Estate Corp. has arranged the sale of The Shops on Elm Place in the Chicago suburb of Highland Park for an undisclosed price. The 35,672-square-foot retail center is 87 percent leased to tenants such as The BBQ Pit, Spiffy Entertainment, US Holocaust Memorial Museum, Bentley Safety Products, LifeStance and Dr. Gilbert Orthodontics. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Northpond Partners. A private investor completing a 1031 exchange was the buyer.
CHICAGO — Boston Consulting Group (BCG) has signed a 15-year lease for roughly 250,000 square feet of office space at 360 North Green, an office and retail development planned for Chicago’s Fulton Market district. BCG will move 1,000 of its Chicago-based employees to the new office space and expects to take occupancy in 2025. Sterling Bay and J.P. Morgan Global Alternatives are the developers of the 24-story, 500,000-square-foot building, which was designed by Gensler. Construction of the building is expected to begin this summer. Nancy Pacher, Lisa Konieczka and Meredith Bell Frese of CBRE represented the tenant, while Russ Cora and Jess Brown represented ownership on an internal basis.
COLUMBUS, OHIO — Saltbox, a flexible warehousing and small-business logistics provider, has opened a new fulfillment hub in Columbus. The 80,000-square-foot building is the sixth Saltbox location nationwide and the first in Ohio. The property is situated near John Glenn Columbus International Airport, major railroads and I-270. Saltbox says the location enables its members to reach 67 percent of the U.S. population via two-day shipping. More than 70 percent of Saltbox’s 300 members are e-commerce companies that sell physical goods directly to consumers. Saltbox plans to open more locations across the U.S. this year. Saltbox members have access to the company’s warehouses and fulfillment services to assist in their e-commerce businesses.
VERNON HILLS, ILL. — PREMIER Design + Build Group has broken ground on a 51,950-square-foot speculative industrial facility in the northwest Chicago suburb of Vernon Hills. The building will feature a clear height of 32 feet, eight dock positions, two drive-in doors and 86 parking spaces. Completion is slated for November. JRW Property Holdings LLC is the developer, Cornerstone is the architect, Swift Structural is the structural engineer and Connelly Electric is the electrical engineer. Cushman & Wakefield will market the project for lease.
