WHITELAND, IND. — Mohr Capital has begun development of a 1 million-square-foot warehouse and distribution center for Cooper Tires in Whiteland within metro Indianapolis. Cooper, a tire manufacturer focused on passenger car and light vehicle replacement tires, is relocating from an 807,042-square-foot facility in Franklin, Ind. Mohr Capital, a Dallas-based real estate investment firm, worked closely with Mark Writt of CBRE on the land acquisition. Pepper Construction, Curran Architects and American StructurePoint make up the project team. Completion is slated for the first quarter of 2021.
GRAND RAPIDS, MICH. — Retailers at the Shops at CenterPoint in Grand Rapids have begun reopening this week after being closed for nearly three months due to the COVID-19 pandemic. Owner Stonemar Properties LLC anticipates that nearly all tenants will be open by Monday, June 15. Shops at CenterPoint is a 575,000-square-foot shopping center located at the corner of East Beltline Road and 28th Street. It is home to T.J. Maxx, HomeGoods, Sierra Trading Post, Nordstrom Rack, Ulta, DSW, Carhartt and Lands’ End, among others. Many retailers will still offer curbside pickup in the coming months. The shopping center is approximately 93 percent occupied. Mark Ansara and Earl Clements of Colliers International handle leasing for the property.
CARMEL, IND. — Cornerstone Cos. Inc. has purchased a three-acre parcel at 12174 N. Meridian St. in Carmel, a suburb of Indianapolis. Cornerstone plans to develop a 40,000-square-foot medical office building on the site. Known as Carmel Medical Arts Pavilion, the three-story project will be home to four healthcare tenants providing orthopedics, rehabilitation, primary care and pediatric dentistry services. The property will feature covered physician parking and an outdoor terrace on the third floor. Cornerstone will serve as developer, construction manager and property manager. The Indianapolis-based company specializes in healthcare real estate. A timeline for completion was not disclosed.
CHICAGO RIDGE, ILL. — JLL Capital Markets has arranged the $2.2 million sale of a single-tenant retail building net leased to Starbucks in Chicago Ridge, about 20 miles southwest of Chicago. Completed this year, the 2,400-square-foot building features a drive-thru and patio. It sits on 9.6 acres at 10259 S. Harlem Ave. Alex Sharrin led the JLL team representing the seller, Glazier Corp. An undisclosed investor purchased the asset.
JEFFERSONVILLE, IND. — Chicken Salad Chick is set to open its first restaurant in Indiana within the Louisville suburb of Jeffersonville. Located at 1520 Veterans Parkway, the restaurant is set to open on Tuesday, June 16. The first 100 guests will receive free chicken salad for a year. Chicken Salad Chick is following state guidelines for the coronavirus and will open the Jeffersonville restaurant at limited capacity with social distancing measures in place. The location features a drive-thru and outdoor seating. Karen and Jon Riddle of Derby City Chicks LLC are the new franchise owners.
CHICAGO — Trammell Crow Co. (TCC), a Texas-based developer, has unveiled plans for Fulton Labs, a 423,454-square-foot life science facility in the Fulton Market neighborhood of Chicago. Located at 400 N. Aberdeen St., Fulton Labs will span 16 floors, with 12 floors of wet or dry lab space, dependent on the tenant’s needs. The lab space will be equipped for drug, chemical and biological testing as well as digital research and analysis. The facility’s 34,000-square-foot, column-free floor plates will be able to accommodate small startups as well as multi-floor tenants. The building will also feature passenger and freight elevators, as well as chemical and equipment storage space for tenants. “With Fulton Labs’ advanced research and development infrastructure, flexible lab spaces, and full floor launchpad for early stage companies, we are confident that this facility will help to promote growth in the Midwest’s life science industry,” says Grady Hamilton, managing director of TCC’s Midwest Business Unit. The building will feature 35,000 square feet of amenity space, which will include a health and wellness center, a 190-person collaboration center, a rooftop fire lounge and two private balconies per floor. The property will offer access to interstates 90, 94 and 290, as well …
CINCINNATI — Phillips Edison & Co. Inc. (PECO), an internally managed real estate investment trust and owner of grocery-anchored shopping centers, has issued an update regarding the impact of the COVID-19 impact. Rent and recoveries collected for May totaled 80 percent of monthly billing, up from 78 percent in April. Cincinnati-based PECO says that once tenants are open and able to pay their standard monthly rent, the landlord will begin discussions about recovering missed rent payments. As of May, 91 percent of PECO’s tenants were open for business. PECO has recently launched PECO Connect, a new webpage designed to help tenants reopen as states continue to relax social distancing and stay-at-home requirements. The resources include information on curbside pickup, outdoor dining, signage, educational webinars, tenant rewards and an internal communications platform. PECO manages a portfolio of 312 properties, including 285 wholly owned properties comprising approximately 31.9 million square feet across 31 states.
PLAINFIELD, IND. — Mygrant Glass Co. has inked a 69,005-square-foot industrial lease at the newly built Gateway V distribution center located at 845 Airtech Parkway in Plainfield near the Indianapolis International Airport. California-based Mygrant is an independent distributor of auto glass. The company plans to move into the facility in the fourth quarter once interior improvements are completed. The 262,758-square-foot Gateway V, owned by HSA Commercial Real Estate, is now 75 percent leased. The other building tenants are Safran Nacelles and LifeNet. Developed on a speculative basis and delivered in 2019, Gateway V features a clear height of 32 feet, 30 truck docks, four drive-in doors, 185 car parking stalls and 70 trailer positions. Terry Busch and Jared Scaringe of CBRE represented ownership in the new lease. Michael Jeppesen of IPG Commercial and Michael Weishaar of Cushman & Wakefield represented Mygrant. HSA has developed six buildings totaling approximately 900,000 square feet at Gateway Business Park.
FAIRMONT, MINN. — Lakeview Methodist Health Care Services has started construction of a 72-bed skilled nursing facility in Fairmont, located in the southern part of Minnesota near the Iowa border. Wold Architects designed the two-story, 86,000-square-foot property, which Kraus-Anderson Construction will build. Development costs are estimated at $24 million. Construction is slated for completion by fall 2021. Located at 610 Summit Drive on Lakeview Methodist’s campus overlooking the Budd and Sisseton lakes, the new facility will feature a child daycare center, dining room, overnight guest room, gift shop, movie theater, fitness center, beauty shop, courtyard and gardens. Lakeview Methodist has worked in the Minnesota skilled nursing sector for 50 years and provides 24-hour care for short- or long-term stays.
LENEXA, KAN. — DaVinci Roofscapes has signed a 66,883-square-foot industrial lease at 13900 W. 101st St. in Lenexa. The Lenexa-based company is a supplier of roofing and siding and is expanding its warehousing needs. Mike VanBuskirk, Chris Robertson, Seamus McLaughlin and Tommy Gentry of Newmark Grubb Zimmer negotiated the lease transaction. The 111,883-square-foot building is now fully leased. The landlord was undisclosed.