WARREN TOWNSHIP, IND. — Cushman & Wakefield has brokered the sale of Pheasant Run Apartments in Warren Township, just east of Indianapolis. George Tikijian, Hannah Ott and John Baker of Cushman & Wakefield represented the seller, Birge & Held. Connecticut-based Hamilton Point Investments was the buyer. The firm plans to make common area and exterior improvements, including new LED lighting, landscaping and an updated clubhouse. Units will receive new appliances, flooring, counters and plumbing.
LAFAYETTE, IND. — RealAmerica Development LLC is developing H38 East Apartments, a 32-unit affordable housing project in Lafayette. The new development leverages the Indiana Housing and Community Development Authority program Moving Forward 2.0. This program is aimed at providing affordable, energy-efficient housing and transportation. All of the units will be priced affordably for low- to moderate-income individuals, with 30 units priced at 60 percent of the area median income (AMI) and two units priced at 50 percent AMI. The project will include solar power and geothermal features that use 35 percent less energy than a typical apartment development. Development partner Area IV Agency will provide an onsite life skills coach mentoring program that will assist families in education and career development. The community will include a classroom and technology center as well as a playground, fitness center and recreation area. Mortgage banking firm Merchants Capital secured an undisclosed amount of funding for the project. The city of Lafayette and Lafayette Housing Authority provided HOME funds and a tax abatement. Project costs are estimated at $7.4 million, according to the Lafayette Journal & Courier. A timeline for completion was not disclosed.
HOFFMAN ESTATES, ILL. — Somerset Development has selected Wight & Co. to provide design services for Bell Works Chicagoland, a redevelopment project transforming the former 1.6 million-square-foot AT&T corporate campus in Hoffman Estates into a mixed-use complex. Plans call for office, coworking, retail and community space. Wight & Co. will serve as the project’s master architect, redesigning its shell and core, public spaces and individual tenant spaces. Wight plans to transform the 67,000-square-foot solarium that served as the AT&T food service area into an event center. Other plans include an 80,000-square-foot conference center and a 29,000-square-foot fitness center. Somerset refers to the project as a “metroburb” and has completed one such project in Monmouth, N.J. The AT&T headquarters, built as the Ameritech Center in 1990, was originally designed by Wight & Co. principal Dirk Lohan.
CHICAGO — Developer Fifield Cos. will break ground on 740 Aberdeen on Tuesday, July 16. The 11-story, transit-oriented development will offer 188 luxury apartment units in Chicago’s River West neighborhood. The project is scheduled to open in fall 2020. The building will be located less than a block from the CTA Chicago Blue Line station and includes a public park designed by Hitchcock Design Group. Units will range from 540 to 1,513 square feet. Amenities will include a party room, coffee bar, coworking space, fitness center, bike storage, sun terrace, pool and grilling stations. Plans also call for an 80-space parking garage and 2,400 square feet of ground-floor retail space. FitzGerald Associates Architects is the project architect with interiors designed by Morgante Wilson Associates. McHugh Construction is the general contractor.
COLUMBUS, OHIO — Six new retailers have been confirmed as part of the $500 million expansion of Easton Town Center in Columbus. The retailers include Ivan Kane’s Forty Deuce Café & Speakeasy, Arhaus Furniture, Pins Mechanical Co., The Beeline, Forbidden Root Restaurant and Brewery and Crimson Cup Coffee & Tea. At Forty Deuce, the ground floor will include a café serving burgers and desserts while the upstairs will incorporate a hidden speakeasy. The new Arhaus store will span 17,500 square feet. Ohio-based Pins Mechanical has already opened with 30,000 square feet of bowling, foosball, pinball, duckpin bowling and ping pong. The Beeline is a 3,000-square-foot bar with outdoor entertainment space. Forbidden Root’s 12,000-square-foot location will be its first outside of Chicago and is scheduled to open late this month. Crimson is a Columbus-based coffee roaster. The expansion of Easton will encompass 140,000 square feet of new retail and restaurant space, 125,000 square feet of office space and 750 residential units, all set to open in late 2019 and early 2020. Co-developed by The Georgetown Co., L Brands and Steiner + Associates, Easton is a 1,300-acre mixed-use development in northeast Columbus.
PAPILLION, NEB. — Darland Construction Co. is underway on a new Chrysler, Dodge, Ram and Jeep dealership near I-80 and Highway 370 in Papillion, a southwest suburb of Omaha. The project spans more than 59,000 square feet, including a showroom, service center, customer lounge, car wash and storage. The dealership will be one of the first in the area to include a hail protection system. The 135,000-square-foot hail netting is designed to protect inventory from hail, heat and ultraviolet rays. Construction began in April and completion is slated for spring 2020. Carlson West Povandra is the project architect.
FENTON, MO. — Stan Johnson Co. has brokered the sale of Cassens Business Center in Fenton for $14 million. The multi-tenant industrial facility spans 132,279 square feet and is located at 2391 Cassens Drive. At the time of sale, the property was fully leased to two national tenants as well as a regional company. Zach Harris and Brad Pepin of Stan Johnson represented the seller, Green Street St. Louis, a Missouri-based developer. RCRL LLC, a New Jersey-based individual investor, purchased the building.
CHICAGO — Accenture, the giant global business and information technology consulting services firm, has expanded its lease at 500 West Madison in Chicago by 152,454 square feet. In conjunction with the lease, the building will be rebranded as Accenture Tower. The company now occupies a total of 226,486 square feet at the 40-story office tower, which is owned by KBS Real Estate Investment Trust III. The first two levels of the property comprise 80,000 square feet of retail space. KBS intends to reposition the lobby and amenity areas to reflect the new partnership with Accenture. The building was constructed in 1987 and renovated in 2015 to include a fitness center and tenant lounge. Kyle Kamin, Todd Lippman and Michael Dash of CBRE represented Accenture in the lease transaction. Wendy Katz and Matt Lerner of Cushman & Wakefield represented KBS. Accenture employs 482,000 people serving clients in more than 120 countries.
PLYMOUTH TOWNSHIP, MICH. — Henry Ford Health System has unveiled plans to revitalize the site of a former Kmart property in Plymouth Township with a new outpatient medical center. The multi-story, 120,000-square-foot center will offer specialty care services, as well as an emergency department and ambulatory surgery center. Kmart closed its doors at the site in November 2017. Henry Ford is expected to close on the purchase of the property in mid-August. Construction is slated to begin shortly thereafter and be completed in 2021. Gensler and Hobbs + Black Associates Inc. are the project architects. With the new facility, Henry Ford’s footprint in western Wayne County will expand to three outpatient facilities.
CHICAGO — Newmark Knight Frank (NKF) has arranged the sale of a three-property office portfolio in Chicago’s Fulton Market District. Totaling 77,155 square feet, the portfolio comprises 939 W. Fulton St., 936 W. Fulton St. and 312 N. Carpenter St. Major tenants include Vital Proteins and iCrossing. Andy Gallas and Gino Tabbi of NKF represented the seller, a joint venture between Madison Capital and ASB Real Estate Investments. NKF also represented the joint venture when it originally purchased the portfolio in 2015. At that time, the buildings were utilized as meatpacking facilities.
