CANADA — Starting today, Monday, Aug. 9, Canada plans to begin allowing entry to American citizens and permanent residents that have been fully vaccinated at least 14 days prior to entering Canada for non-essential travel. This preliminary step enables the government of Canada to fully operationalize the adjusted border measures ahead of Sept. 7, when the government intends to open Canada’s borders to any fully vaccinated travelers. All travelers will use the ArriveCAN app or web portal to submit their travel information. Accepted vaccines include Pfizer, Moderna, AstraZeneca and Janssen. All travelers will still require a pre-entry COVID-19 molecular test result. Starting Aug. 9, fully vaccinated travelers will not need a post-arrival test unless they have been randomly selected to complete a day one COVID-19 test. This strategy enables the government to continue monitoring variants of concern in Canada and vaccine effectiveness, according to a news release.
CHICAGO — Faropoint has acquire a 757,017-square-foot industrial portfolio throughout Chicagoland for an undisclosed price. The seven-building portfolio was fully leased to 10 tenants at the time of acquisition. The tenant base includes a diverse mix of industries such as technology, manufacturing, robotics and energy. The properties are located in Elk Grove Village, Glendale Heights, Carol Stream, Hanover Park, Bolingbrook and Elgin. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers International represented the undisclosed seller.
ST. CHARLES, MO. — Contegra Construction will build a new 70,000-square-foot headquarters and manufacturing facility for Diode Dynamics in St. Charles, a northwest suburb of St. Louis. Situated within Fountain Lakes Commerce Center, the project will include a showroom, four drive-in engineering bays, a 14,000-square-foot manufacturing area, engineering laboratory, 37,000-square-foot warehouse and 16,000-square-foot office. Diode Dynamics is a designer, manufacturer and distributor of automotive lighting products. The company will move all of its existing employees from Earth City and plans to add 36 new positions over the next five years. Joining Contegra on the project team are Remiger Design, BAX Engineering and SSC Engineering. Bank of Franklin County provided project financing. Completion is slated for this fall.
AURORA, ILL. — Peak Construction Corp. is underway on a build-to-suit office remodel for Phoenix in Aurora, about 40 miles west of Chicago. Phoenix is a packaging company dating back to 1890. Peak demolished approximately 65 percent of the office building at 975 Meridian Lakes Drive. The 41,375-square-foot project will incorporate modern and high-end finishes. Completion is slated for the third quarter. Jeff Blake of Paine/Wetzel represented Phoenix in the acquisition of the property. Indianapolis-based CSO Architects is the project architect.
BETTENDORF, IOWA — Southern California-based private equity firm IRA Capital has acquired the Genesis Center for Digestive Health in Bettendorf, one of the Quad Cities. The purchase price was undisclosed. The 14,000-square-foot medical office building is fully leased to Genesis Health. Constructed in 2004, the highly specialized endoscopy center features three operating rooms alongside a full gastroenterology clinic, which includes physician offices, exam rooms and procedure rooms. Gastroenterology Associates previously occupied the building before becoming part of Genesis in June. IRA acquired the property through a sale-leaseback with Genesis, which operates six hospitals and employs over 5,500 people in the region.
CHICAGO — Lendlease and Magellan Development Group have opened Cascade, a 37-story, 503-unit luxury apartment tower in Chicago’s Lakeshore East neighborhood. The opening coincides with the completion of Cascade Park, a nearly one-acre green space that is open to the public. Designed by bKL Architecture, Cascade offers studio to three-bedroom floor plans ranging from 509 to 1,332 square feet. Monthly rents start at $1,850. The development features more than 45,000 square feet of indoor and outdoor amenity space, including a 32nd-floor lakefront terrace that offers views of Navy Pier and Lake Michigan. Residents have access to a fitness center, strength studio, indoor pool, golf simulator, game room, children’s playroom, music room, outdoor pool, dog park and pet spa. Cascade residents who plan to transition into homeownership can take advantage of a unique program that enables them to sign a contract for a condo at Cirrus — the adjacent 47-story, 350-unit condominium tower that is scheduled to open this fall — while still leasing at Cascade. Half of the rent paid, up to 2.5 percent of the purchase price, can be recouped as a credit at closing.
SOUTHFIELD, MICH. — Friedman Real Estate has brokered the sale of the former Northland Mall in Southfield, a northern suburb of Detroit. The sales price was $11.1 million, according to the Detroit Free Press. Friedman was hired in 2017 to act as the City of Southfield’s real estate consultant and broker to market the redevelopment site. Bloomfield Hills-based Contour Development was the buyer. Contour plans to build new residences, commercial space and amenities in a mixed-use project named Northland City Center. Contour’s plan includes an adaptive reuse of the former J.L. Hudson Co. department store building into Hudson City Market, a food, entertainment and home furnishings venue. Andrew Ledger of Friedman served as the primary point of contact for the assignment. The 1.4 million-square-foot mall opened in 1954 and closed in 2015. It was home to 100 stores. Friedman has also been retained by Contour to market Northland City Center for lease.
WOODRIDGE, ILL. — Duke Realty has broken ground on a 370,973-square-foot speculative industrial project in Woodridge, a southwest suburb of Chicago. The development will sit on 21 acres at 1000 Woodward Ave. Plans call for a clear height of 36 feet, 37 dock doors, four drive-in doors, 44 trailer spaces and 343 car parking spaces. Completion is slated for January 2022. Jason West and Sean Henrick of Cushman & Wakefield will market the project for lease.
COLUMBUS, OHIO — Industrial Logistics Properties Trust (ILPT) has acquired a 357,504-square-foot industrial building in Columbus for $31.5 million. The property is located at 7303 Rickenbacker Parkway West near the Rickenbacker intermodal terminal and airport. Synnex Corp. fully occupies the facility on a seven-year, net-lease basis. Steve Disse, Alex Cantu, Jeff Devine and Michael Linder of Colliers International brokered the sale, which includes excess land that can accommodate future expansion of more than 100,000 square feet. Seller information was undisclosed. ILPT, based in Newton, Mass., is managed by The RMR Group LLC.
ANKENY, IOWA — The Opus Group has begun construction of an industrial build-to-suit for Brown Warehouse Co. in Ankeny, a northern suburb of Des Moines. The 277,930-square-foot building will be located within Swanwood Logistics Center. The facility will feature 43 vehicle parking stalls, 24 dock doors and two drive-in doors. Brown, a leasing and third-party logistics company, will operate its warehousing business in the new building and relocate its workforce from its three previous locations. Completion of the new building is slated for April 2022. Opus is the developer, design-builder, interior designer, architect and structural engineer. Snyder is the civil engineer. Opus also owns 25 acres adjacent to the site and plans to build a speculative industrial building spanning 296,360 square feet. Marcus Pitts and Austin Hedstrom of JLL will market that building for lease.