Mixed-Use

Pre-Leasing for NorthShore 770 Mixed-Use Community Set for Aug. 1

by Jonathan Mehall July 29, 2015

NORTHBROOK, ILL. — Co-developers Morningside Group and Crossroads Development Partners have planned the pre-leasing of the luxury rental residences at NorthShore 770 for Aug. 1. The 347-unit luxury apartment community and 101,435-square-foot retail center features a Mariano’s grocery store at 770 Skokie Blvd. in Northbrook, 25 miles south of downtown Chicago. Other retailers and restaurants featured are Fuddruckers, Panera Bread, Kriser’s pet food, PNC Bank, and Chipotle. Renters at NorthShore 770 can choose from one-bedroom, one-bedroom plus study, two-bedroom and two-bedroom plus study plans measuring from 667 to 1,341 square feet. The building will also include 595 parking spaces for residents and their guests in a heated garage with a car wash and tire-fill station.

July 29, 2015

Industrial Midwest Missouri Mixed-Use

Wiegmann Associates Begins Construction at Aviator Business Park in Hazelwood, Mo.

by Jonathan Mehall July 29, 2015

HAZELWOOD, MO. — Wiegmann Associates has begun construction of an $800,000 tenant build-out at Aviator Business Park in Hazelwood, 17 miles northwest of St. Louis. Project details include installing a mechanical system infrastructure for the 535,000-square-foot space at Lot #7 that will house Silgan Plastics’ St. Louis production facility, a Weekends Only storage warehouse, and a shell warehouse. Wiegmann is also installing the HVAC system for a 75,000 square-foot shell warehouse at Lot #3. Construction is scheduled for completion in December 2015. The general contractor is Kadean Construction Company. Aviator Business Park is a 155-acre development located one mile north of Lambert-St. Louis International Airport on the site of the former Ford Hazelwood Assembly Plant. The business park houses commercial, industrial and warehousing tenants.

July 29, 2015

Illinois Industrial Midwest Mixed-Use

Opus Group Completes Expansion of 44,000 SF Industrial Building in West Dundee, Ill.

by Jonathan Mehall July 29, 2015

WEST DUNDEE, ILL. — The Opus Group has completed the expansion of a 44,000- square-foot industrial and office facility for King Shan LLC in West Dundee, approximately 45 miles northwest of Chicago. The project was an expansion of King Shan’s existing 35,000-square-foot facility, which Opus constructed in 2010. The expansion more than doubles the company’s industrial space with an additional 42,500 square feet of warehouse space and 1,500 square feet of office space. Other features of the building include a 24-foot clear height, three dock doors and a large conference area. Construction on the building began fall 2014. King Shan manufactures steel wire and metal fabrication products. The company employs about 700 people worldwide.

July 29, 2015

Illinois Midwest Mixed-Use

Alter Asset Management Named Property Manager for One11 West Illinois

by Jonathan Mehall July 28, 2015

CHICAGO — Alter Asset Management (AAM) has been contracted to manage One11 West Illinois, a 99 percent leased Class A mixed-use office and retail building in Chicago’s River North neighborhood. The new owner, GLL Real Estate Partners GmbH, a Munich-based real estate fund management group, selected AAM as part of its acquisition of the property. One11 West Illinois is a 227,604-square-foot 10-story building anchored by the regional headquarters of salesforce.com, the global cloud-computing firm, which leases 77 percent of the leasable space. WeWork, a New York-based company that provides shared office space, is the second largest tenant. AAM is headquartered in Lombard, Ill., and maintains fully staffed offices in Chicago, Phoenix, and Atlanta.

July 28, 2015

Georgia Mixed-Use Southeast

ULI Atlanta Appoints Cooper Carry’s Kevin Cantley as New Chair

by John Nelson July 28, 2015

ATLANTA — ULI Atlanta has appointed Kevin Cantley, president and CEO of Atlanta architecture firm Cooper Carry, as the next chair of ULI Atlanta — which covers Georgia, Alabama and Eastern Tennessee. Cantley has been a member or the Urban Land Institute (ULI) since 1995. Cantley joined the national architecture firm in 1980 and has directed the design of corporate headquarters, office, residential, transit, retail, educational and mixed-use projects. Cantley has earned many awards for his designs, including the Development of Excellence from the Atlanta District Council of ULI. He is active in ULI’s Transit Oriented Development Council, Livable Communities Council and its Management Committee. “I became aware of ULI in the early 70s, while in college studying architecture. Its mission was compelling to me and aligns with my professional and personal interests,” said Cantley. “Because of its broad and diverse membership, its dedication to responsible use of land, ULI has a positive impact globally and at the community level. I’m honored to be the next chair of the Atlanta district and motivated to contribute to that positive impact.” In addition to his involvement with ULI, Cantley is a member of AIA and NAIOP, for which he chairs its Urban …

July 28, 2015

Mixed-Use New York Northeast Retail

Silvershore Sells 4,415 SF Mixed-Use Building in SoHo for $9.6M

by Amy Works July 27, 2015

NEW YORK CITY — Silvershore Properties has completed the sale of a mixed-use building located at 19 Howard St. in Manhattan’s SoHo Cast Iron Historic District. The three-story, 4,415-square-foot property sold for $9.6 million, or $2,174 per square foot. The property features additional air rights and was delivered vacant to the undisclosed buyer. Robert Burton of Cushman & Wakefield represented the seller in the transaction.

July 27, 2015

Michigan Midwest Mixed-Use

REDICO Closes on Purchase of Fisher and Kahn Buildings for $12.2M

by Jonathan Mehall July 27, 2015

DETROIT — REDICO and its development partners have closed on the $12.2 million acquisition of the Fisher and Albert Kahn buildings in downtown Detroit. The buildings were acquired at auction in June. REDICO, in partnership with local developers Peter Cummings, John Rhea, RHEAL Capital Management LLC, and New York-based HFZ Capital Group, plan significant improvements for both buildings. A residential component is expected to be a key part of renovations for the Kahn building. The 30-story Fisher Building was constructed in 1928 and has served office and retail tenants. Designated a National Historic Landmark in 1989, the building also includes the 2,089-seat Fisher Theatre, one of Detroit’s oldest live theater venues. The Albert Kahn Building, formerly known as the New Center Building, was completed in 1931 and added to the National Register of Historic Places in 1980. Standing 10 stories tall, it currently serves as an office building.

July 27, 2015

Mixed-Use North Carolina Southeast

JLL Brokers $46M Sale of Business Park in Charlotte

by John Nelson July 24, 2015

CHARLOTTE, N.C. — JLL has brokered the $46 million sale of Greylyn Business Park, a 648,156-square-foot office, retail and industrial park in Charlotte. The property’s tenant roster includes Active Screw & Fastener Co., Mirrormate, Charlotte-Mecklenburg Police Department, KNA Corp. and United Refrigeration Inc. Cleveland-based Weston Inc. purchased the asset from GID. Brad Cherry, Pete Pittroff and Spencer Yorke of JLL’s Charlotte office represented the seller in the transaction. Weston has retained Yorke and Natalie Marshall of JLL to lease the business park and Mimi Fisher and Jason Sierra of JLL to manage the property on-site.

July 24, 2015

Florida Mixed-Use Southeast

Colliers Brokers $10.8M Sale of Mixed-Use Asset in Miami’s Wynwood Neighborhood

by John Nelson July 23, 2015

MIAMI — Colliers International has brokered the $10.8 million sale of a former art gallery located at 2534 N. Miami Ave. in Miami’s Wynwood neighborhood. Built in 1950 and formerly housing the Zadok Art Gallery, the two-story, 18,870-square-foot property includes retail space on the ground floor and office space on the second floor. Ivo Tsinev and Achikam Yogev of Colliers International’s South Florida office represented the seller, Zadok Real Estate Holding, in the transaction. Michael Tobin of Rothman & Tobin PA represented the buyer, Badjer LLC, which plans to lease the vacant building for retail use.

July 23, 2015

Indiana Midwest Mixed-Use

Grand opening of The Depot at Nickel Plate in Fishers, Ind., Is Set for July 23

by Jonathan Mehall July 20, 2015

FISHERS, IND. — Flaherty & Collins Properties will host a grand opening Thursday, July 23, for The Depot at Nickel Plate, a luxury mixed-use development in Fishers, approximately 21 miles northeast of Indianapolis. Located at 8594 E. 116th St., the $42 million development features 242 market-rate luxury apartments and 17,045 square feet of streetfront retail. Retail tenants at The Depot include Dottie Couture boutique, Brixx Wood-Fired Pizza, Yogurtz, Flamme Burger and Salon Seven. Only 6,249 square feet of retail space is still available. The apartment sizes range from 703 square feet to 2,297 square feet, with rents ranging from $950 to $3,850 per month.

July 20, 2015

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