ELK GROVE VILLAGE, ILL. — Principle Construction Corp. has completed a speculative warehouse on behalf of Seefried Properties in Elk Grove Village. The 79,205-square-foot building is located on 11.7 acres at 2001 Arthur Ave. The property includes 3,960 square feet of office space. Building features include 18 docks, two drive-in doors, 104 parking stalls and a clear height of 32 feet. The owner will do business as CH Realty VII/I Chicago Lunt LLC. Harris Architects provided design services.
TROY, MICH. — L. Mason Capitani CORFAC International has brokered the sale of Butterfield Park Place, a 28,364-square-foot, multi-tenant office building located at 2250 Butterfield Drive in Troy. California-based LSTC Michigan LLC purchased the asset from Wilson Real Estate LLC. LSTC previously acquired a neighboring building in 2017. Mason L. Capitani represented both parties in the sale. He will also continue to oversee leasing for the new owner. Liberty Property & Asset Management will manage the property.
CHICAGO — Ardmore Roderick has signed a 12,700-square-foot headquarters lease for the entire third and fourth floors at 1500 W. Carroll Ave. in Chicago’s Fulton Market West. Ardmore is a civil engineering firm providing design engineering, construction inspection and management, structural engineering and survey work. Dayton Street Partners, which owns the property, recently completed a $4 million renovation at the six-story, 38,000-square-foot loft office building. The renovation included new exterior windows, bathrooms, HVAC system and lighting. The developer also added a modern lobby, rooftop deck, bicycle garage and parking for 42 cars. Mike Curran and Mark Georgas of JLL represented Dayton Street in the lease with Ardmore. Other recently signed leases at the building include Via Technik, Limitless Coffee, Neato Agency and Breather.
CHICAGO — Franklin Partners has unveiled the redevelopment plans for One Mag Mile, an office property located at 980 N. Michigan Ave. This includes significant lobby renovations and the recent opening of international juice chain Joe & the Juice. The upgraded lobby will have a hospitality influence with new finishes and modern lighting. Wright Heerema Architects is working with Franklin Partners on the design. One Mag Mile offers 400,000 square feet of office and retail space. Tenants Berkshire Hathaway Home Services, Singerman Real Estate and The Realreal recently expanded their office leases within the property. Phil Golding and Todd Siegel of CBRE brokered the lease transaction with Joe & the Juice.
DETROIT — Coyote Logistics, a UPS company and global third-party logistics provider, is creating a new tech hub in Detroit’s Corktown neighborhood. The facility is expected to open in the third quarter of this year. Coyote will be the anchor tenant in The Assembly, a Bedrock-owned building. The five-story property was formerly a warehouse. Coyote is expected to employ 500 people, with 350 of those being new positions. Coyote will occupy the entire second and third floors for a total of 58,000 square feet. The Assembly will span approximately 160,000 square feet. Bedrock is the real estate arm of billionaire businessman Dan Gilbert, founder and chairman of Quicken Loans.
WEST JEFFERSON, OHIO — Hillwood, a Perot company, and Continental Real Estate Cos. have unveiled plans to develop an approximately 840,000-square-foot speculative distribution center in West Jefferson. Slated for delivery in early 2020, the property will be expandable up to 1.2 million square feet. The project will offer convenient access to I-70 and will be situated 20 miles west of the central business district. Building features include a clear height of 36 feet, cross-dock configuration, 130 trailer parking spaces and 200 car parking spaces.
WAUKESHA, WIS. — Bernard Financial Group has arranged a $22 million loan for the acquisition of a 331,541-square-foot retail property in Waukesha. Neil Gorosh of Bernard arranged the CMBS loan on behalf of the borrower, SBV Fox River LLC. ATI Physical Therapy is one of the tenants.
DETROIT — Tin Roof has unveiled plans to open at The District Detroit. The music joint and restaurant will occupy the space formerly home to Cheli’s Chili Bar and will be situated near Comerica Park, Ford Field and the historic Fox Theatre. The original Tin Roof opened in 2002 near Nashville’s famed Music Row. Popular menu items include Dixie biscuits, voodoo shrimp grinder and candy pig mac & cheese. Other recently announced tenants at The District Detroit include Sahara Restaurant & Grill, The M Den, Frita Batidos, the Detroit Medical Center Sports Medicine Institute, Warner Norcross + Judd LLP and Google. Scott Young and Ashley Ketko of CBRE represent the landlord, Olympia Development, in lease transactions for retail properties at The District Detroit.
DETROIT — H&M, a Swedish fashion retailer, has unveiled plans to open its first Detroit location this fall. The trendy clothing retailer has signed a lease with Bedrock, the real estate arm of billionaire businessman Dan Gilbert, founder and chairman of Quicken Loans. H&M will occupy a 25,000-square-foot space within three Albert Kahn-designed buildings on the west side of Woodward Avenue. The historic Woodward shopping district was once home to Detroit’s most prominent department stores, including J.L. Hudson’s.
OVERLAND PARK, KAN. — Hamilton Zanze has acquired the 272-unit Metcalf Village Apartments in Overland Park for an undisclosed price. The company plans to rebrand the community as Boulders at Overland Park Apartments. Built in 2017, the property spans 261,862 square feet. Amenities include a fitness center and a saltwater pool. Hamilton Zanze, a San Francisco-based real estate investment company, plans to improve outdoor lighting and landscaping. Mission Rock Residential will manage the asset. The seller was not disclosed.
