Midwest

VanTrust Sells 76,332 SF Medical Office Building in Overland Park, Kansas

by Kristin Harlow September 18, 2019

OVERLAND PARK, KAN. — VanTrust Real Estate LLC has sold a 76,332-square-foot medical office building in Overland Park for an undisclosed price. The Class A property is located at 6650 W. 110th St. VanTrust developed the property in 2017. It is currently 92 percent occupied. Keith Baker of CBRE represented the buyer, Griffin-American Healthcare REIT IV Inc., a non-traded real estate investment trust. After the sale, CBRE was awarded leasing and property management assignments. Baker will handle leasing while Stacy Oldham will oversee management. As of June 30, Griffin-American Healthcare REIT IV’s portfolio totaled 4.1 million square feet in 24 states.

September 18, 2019

Illinois Industrial Leasing Activity Midwest

Fiat Chrysler Signs 25,523 SF Industrial Lease in Bolingbrook, Illinois

by Kristin Harlow September 18, 2019

BOLINGBROOK, ILL. — Fiat Chrysler Automobiles (FCA) has signed a 25,523-square-foot industrial lease in Bolingbrook. The car manufacturer will use the space as a training facility for its employees. The 112,049-square-foot building is located at 1325 Remington within Carlow Corporate Center. The property features a clear height of 28 feet, 242 car parking spaces, three drive-in doors and 11 loading docks. FCA will begin occupying the space in January. Jordan Decker and Chris Cobb of Cushman & Wakefield represented FCA in the lease transaction. Dominic DeRose, Vern Schultz and Charles Canale of Colliers International represented the owner and developer, Opus Group.

September 18, 2019

Development Illinois Midwest Office

Amazon to Expand Chicago Loop Office by 70,000 SF, Add 400 Jobs

by Kristin Harlow September 17, 2019

CHICAGO — Amazon has unveiled plans to expand its Chicago tech hub and create an additional 400 jobs in fields including cloud computing, advertising and business development. To accommodate the job creation, Amazon will expand its office in downtown Chicago by more than 70,000 square feet. This will double the company’s tech workforce within the city. Amazon’s Chicago tech hub is one of the company’s 18 North American tech hubs. Amazon employees in Chicago currently build and support products and services for Amazon Web Services, Amazon Advertising and the company’s transportation and operations units. Together with its customer fulfillment and retail facilities, Amazon has created more than 11,000 full-time jobs in Illinois and invested over $4.4 billion in the state since 2010.

September 17, 2019

Development Midwest Missouri Multifamily

265-Unit Apartment Community Opens in St. Peters, Missouri

by Kristin Harlow September 17, 2019

ST. PETERS, MO. — A new apartment community known as 5300 Centre Apartments has opened in St. Peters, about 30 miles west of St. Louis. Developed by Propper Construction Services, the four-story property features 265 units across two buildings. The community includes two rooftop garden areas, one of which is designed for recreation areas while the other is designated for quiet areas with hammocks and outdoor yoga classes. Other amenities include a pool, rooftop lounge, fitness center, business center, covered parking, electric vehicle charging stations and bicycle storage. Renters will be able to choose from fully furnished or unfurnished units. Monthly rental rates range from $920 for studios to $2,585 for three-bedroom suites. 2B Residential is the management and leasing company. Zwick + Gandt Architecture served as architect while S.M. Wilson & Co. was the general contractor. A grand opening celebration will take place this Thursday, Sept. 19.

September 17, 2019

Development Illinois Industrial Midwest

Krusinski Breaks Ground on 138,000 SF Headquarters for Yamazen in Elk Grove Village, Illinois

by Kristin Harlow September 17, 2019

ELK GROVE VILLAGE, ILL. — Krusinski Construction Co. has broken ground on the new headquarters for Yamazen Inc. in Elk Grove Village. The 138,000-square-foot, two-story building will be located at 111 NW Point Blvd. Yamazen, which sells and distributes machine tool equipment and is a subsidiary of Japan-based Yamazen Corp., will relocate its current operations and staff from Schaumburg. Completion is slated for summer 2020. The facility will feature 50,000 square feet of offices, conference rooms and product demonstration areas. The distribution space will include two loading docks, two drive-in doors and 137 car parking spaces. The project team includes Cornerstone Architects Ltd., civil engineer V3 Companies Ltd. and owner representative Ketone Partners.

September 17, 2019

Leasing Activity Midwest Ohio Retail

Makers Social to Join Tenant Lineup at River & Rich in Columbus, Ohio

by Kristin Harlow September 17, 2019

COLUMBUS, OHIO — Makers Social has joined the retail tenant lineup at River & Rich in the East Franklinton neighborhood of Columbus. The arts and crafts cocktail bar will occupy approximately 1,900 square feet. Guests will be able to choose from over 40 different projects to make while enjoying cocktails and local beers. Makers Social expects to open this winter. Casto owns River & Rich, a 230-unit apartment building that opened this summer. Designed with local art in mind, there are several murals within the project, which features 30,000 square feet of retail space. Roy G Biv, a nonprofit art gallery, is the marquee tenant at the property.

September 17, 2019

Leasing Activity Michigan Midwest Restaurant Retail

GPS Hospitality Opens 3,600 SF Burger King in Roseville, Michigan

by Kristin Harlow September 17, 2019

ROSEVILLE, MICH. — GPS Hospitality Inc. has opened a new Burger King restaurant at 26640 Gratiot Ave. in Roseville, just south of I-696. Burger King occupies approximately 3,600 square feet on a 1.3-acre site. Tjader Gerdom and Larry Siedell of Gerdom Realty & Investment represented GPS Hospitality in the lease transaction. Founded in 2012, GPS Hospitality is a Burger King, Pizza Hut and Popeyes franchisee, operating more than 475 restaurants.

September 17, 2019

Acquisitions Indiana Midwest Multifamily Seniors Housing

Cushman & Wakefield Arranges $61M Sale of Continuing Care Retirement Community in Suburban Indianapolis

by Kristin Harlow September 16, 2019

CARMEL, IND. — Cushman & Wakefield has arranged the $61 million sale of The Barrington of Carmel, a 267-unit, entrance-fee continuing care retirement community in Carmel, a suburb of Indianapolis. The 372,000-square-foot campus includes 137 independent living units, 56 assisted living units, 26 memory care units and 48 skilled nursing beds. Amenities include a café, salon, fitness center, activity rooms, dining rooms and walking trails. Built in 2013, the property is situated on a nearly 20-acre site at 1335 S. Guilford Road. Allen McMurtry, David Kliewer and Paul Carr of Cushman & Wakefield represented the seller, Texas-based Senior Quality Lifestyles Corp. Prairie Landing Community Inc., an affiliate of Indianapolis-based BHI Senior Living, acquired the asset through a bankruptcy sale process.

September 16, 2019

Acquisitions Industrial Midwest Ohio

Colliers Brokers $35M Sale of Industrial Portfolio in Ohio

by Kristin Harlow September 16, 2019

CINCINNATI AND COLUMBUS, OHIO — Colliers International has brokered the $35 million sale of the Orange Point Portfolio, a six-property industrial portfolio within the Cincinnati and Columbus markets. The portfolio totals 591,695 square feet and has a combined occupancy level of 93.7 percent. The properties include: 2700-2758 Kemper Road and 2800-2888 Kemper Road in Sharonville; 6900-6918 Fairfield Business Drive in Fairfield; 4514-4548 Cornell Road in Blue Ash; and 7719 Graphics Way and 459 Orange Point Drive in Lewis Center. Boston-based Plymouth REIT purchased the portfolio from Orange Point SWS LLC. Steve Timmel, Jeff Johnston, Chris Prosser, Will Roberts, Matt Smyth and Jonathan Schuen of Colliers brokered the sale.

September 16, 2019

Development Illinois Midwest Multifamily

Opus Completes Construction of 113-Unit Apartment Complex in Des Plaines, Illinois

by Kristin Harlow September 16, 2019

DES PLAINES, ILL. — The Opus Group has completed construction of Ellison Apartments, a 113-unit apartment complex in Des Plaines. The project, which includes 1,349 square feet of street-level retail space, was a joint venture with Berkshire Residential Investments. Amenities include a fitness center, clubroom, pet spa, game lounge and outdoor amenity deck. A grand opening event is scheduled for Thursday, Sept. 26. Opus served as developer, design-builder and structural engineer. ESG Architects designed the property.

September 16, 2019

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