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DevelopmentIndustrialIowaMidwest

Opus Breaks Ground on Phase II of Swanwood Logistics Center in Ankeny, Iowa

by Kristin Harlow

ANKENY, IOWA — The Opus Group has broken ground on the second phase of Swanwood Logistics Center in Ankeny. Phase II will include a 296,300-square-foot speculative industrial building on 25 acres. Once complete, the building will feature 184 vehicle parking stalls, 24 dock doors, two drive-in doors and a clear height of 32 feet. Completion is slated for fall 2022. Opus is the developer, design-builder, architect and structural engineer. Marcus Pitts and Austin Hedstrom of JLL are marketing the property for lease. This is the fifth building in the Ankeny submarket for Opus.

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IllinoisLeasing ActivityMidwestOffice

Tarkett to Relocate Showroom to Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Global flooring manufacturer Tarkett has signed a lease to move its showroom and offices from Merchandise Mart to the 10th floor of Fulton East, a 12-story, 90,000-square-foot office building in Chicago’s Fulton Market District. Parkside Realty Inc. owns the building, which is located at 215 N. Peoria St. Tarkett will occupy nearly 11,000 square feet. The firm opened its 9,000-square-foot showroom at Merchandise Mart in 2017. Chicago-based Clayco constructed Fulton East and Lamar Johnson Collaborative served as architect. The newly built property includes several health and wellness features. Andy Gooliak of Colliers International and Nate Walczuk of Allegro Real Estate Brokers and Advisors represented Tarkett in the lease transaction. Katie Scott and Camille Julmy of Parkside Realty represented ownership on an internal basis.

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DevelopmentHealthcareMidwestNebraska

Darland Underway on Expansion of Providence Medical Center in Wayne, Nebraska

by Kristin Harlow

WAYNE, NEB. — Darland Construction Co. is underway on an expansion and renovation of Providence Medical Center in the eastern Nebraska town of Wayne. Darland is adding a 20,000-square-foot addition to the east side of the hospital’s campus to accommodate the growing imaging and specialty outpatient services. Plans also call for removing a second entry point in favor of one prominent, secure main entry. After the addition is completed, Darland will complete a 20,000-square-foot remodel to include a new surgical suite, management area and administrative offices. Completion is slated for summer 2023.

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DevelopmentIndustrialMidwestMissouri

Opus Breaks Ground on 847,475 SF Industrial Build-to-Suit for Hallmark in Liberty, Missouri

by Kristin Harlow

LIBERTY, MO. — The Opus Group has broken ground on Liberty Heartland Logistics Center in Liberty, a suburb just northwest of Kansas City. The first building is an 847,475-square-foot build-to-suit for Hallmark Cards Inc. The project will feature a clear height of 40 feet, 48 dock doors, two drive-in doors, 150 trailer parking spots and 450 vehicle parking spots. This will be Hallmark’s second distribution center in Liberty and will be situated less than one mile from its current facility. Completion is slated for February 2023, at which time Hallmark anticipates more than 1,200 full-time employees working between its two centers. Opus also plans to build two additional speculative buildings at Liberty Heartland Logistics Center that will span 572,000 and 239,000 square feet. Opus is the developer, design-builder, interior designer, architect and engineer. Mark Long, John Hassler and Scott Bluhm of Newmark Zimmer are marketing Buildings B and C for sale or lease. The Missouri Department of Economic Development collaborated with project partners.

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AcquisitionsMidwestMultifamilyWisconsin

JVM Realty Acquires 480-Unit Luxury Apartment Complex in Kenosha, Wisconsin

by Kristin Harlow

KENOSHA, WIS. — JVM Realty Corp. has acquired The Reserve at Kenosha, a 480-unit luxury apartment complex in the southeastern Wisconsin town of Kenosha. The purchase price was undisclosed. The property includes 23 buildings across 68 acres. Amenities include two fitness centers, two pools, two car care centers, three dog parks, a pet spa and full-service kitchen. Formerly known as The Springs at Kenosha, the property’s final phase was completed in 2020. JVM’s central region team will manage the asset. Pete Evans and Ralph DePasquale of Berkadia Chicago, along with Richard Evans of Berkadia Milwaukee, represented the seller, Wisconsin-based Continental Properties Co. Inc.

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DevelopmentIndustrialKansasMidwest

Contegra Construction Completes Two Distribution Centers Totaling 919,080 SF in Kansas City

by Kristin Harlow

KANSAS CITY, KAN. — Contegra Construction Co. has completed two additional industrial buildings at NorthPoint Development’s Turner Logistics Center in Kansas City. The two distribution centers total 919,080 square feet. Building II spans 543,544 square feet and features 54 dock doors, four drive-in ramps, 284 car parking stalls and 137 trailer stalls. Building III totals 375,536 square feet and offers 37 dock doors, two drive-in ramps and 371 parking spaces. Both buildings feature clear heights of 36 feet. The 250-acre industrial park is now home to three buildings, the first of which totals 408,000 square feet.

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DevelopmentIndustrialMidwestOhio

Stotan Industrial Unveils Plans to Develop 640,640 SF Spec Facility in Suburban Columbus

by Kristin Harlow

GROVEPORT, OHIO — Chicago-based Stotan Industrial and its joint venture partners LaSalle Investment Management and CA Industrial have acquired a 47-acre site in Groveport with plans to build a 640,640-square-foot speculative facility. The partnership acquired the land on Hayes Road from Sunshine and Smooch LLC. Development plans call for 60 dock doors, 154 trailer spots, 310 car parking spots and a clear height of 36 feet. CBRE’s Rick Trott represented Stotan in the land purchase and has been retained as the project’s leasing agent. Stotan, a private investment firm specializing in the acquisition and development of industrial properties, was launched earlier this year.

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LoansMidwestMinnesotaMultifamilyNorthmarq

NorthMarq Arranges $19M Construction Loan for Multifamily Adaptive Reuse Project in St. Paul

by Kristin Harlow

ST. PAUL, MINN. — NorthMarq has arranged a $19 million construction loan for an adaptive reuse project at 1554 Midway Parkway in St. Paul. The former seniors housing facility will be transformed into 148 market-rate apartment units. Completion is slated for next year. Michael Padilla of NorthMarq’s Minneapolis office arranged the five-year loan, which features two years of interest-only payments followed by a 25-year amortization schedule. A local bank provided the loan on behalf of the borrower, Premier Holdings LLC.

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DevelopmentIllinoisMidwestRetail

Museum of Ice Cream to Open at The Shops at Tribune Tower in Chicago

by Kristin Harlow

CHICAGO — The Museum of Ice Cream (MOIC) has signed a long-term lease to open a 13,544-square-foot location at The Shops at Tribune Tower in downtown Chicago. MOIC represents the first retail tenant at the newly redeveloped Tribune Tower. The retail portion spans 50,000 square feet and anchors the ground floor of the 36-story, 740,000-square-foot tower, which is located at 435 N. Michigan Ave. Owners CIM Group and Golub & Co. have transformed the property into 162 luxury condominiums and are now welcoming their first residents. The building originally opened in 1925. Plans for the Chicago MOIC include a Chicago Transit Authority-inspired L car named the Sprink-L; a giant dessert-themed putt putt course with a Chicago dog ice cream treat; and a café with outdoor seating. The opening is scheduled for spring 2022. Chicago joins New York City and Austin as the only U.S. cities with a permanent location for MOIC.

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DevelopmentIllinoisIndustrialMidwest

Opus Begins Construction on Two Spec Industrial Buildings in North Aurora, Illinois

by Kristin Harlow

NORTH AURORA, ILL. — The Opus Group has begun construction of two speculative industrial buildings known as Tollway Corporate Center in North Aurora. The development is a joint venture with Principal Real Estate Advisors. The first building will total 104,978 square feet and will feature 10 dock positions, two drive-in doors, eight trailer stalls, 64 car parking stalls and a clear height of 32 feet. The second building will span 543,638 square feet and will offer 54 dock positions, four drive-in doors, 90 trailer stalls, 142 car parking stalls and a clear height of 36 feet. Completion of both buildings is slated for June 2022. Opus is serving as developer, design-builder, architect and engineer. Brian Kling of Colliers International and Dan Leahy of NAI Hiffman are marketing the project for lease.

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