NEW YORK CITY — Quest Partners has signed a 13,284-square-foot office lease at 110 E. 59th St. in Midtown Manhattan. The alternative asset management firm will relocate from 126 E. 56th St. to the entire 36th floor of the 37-story building next spring. Hugh McDonald and Munish Viralam of CBRE represented Quest Partners in the lease negotiations. Brett Greenberg and Fran Delgorio internally represented the landlord, Jack Resnick & Sons.
NAPERVILLE, ILL. — Mid-America Real Estate Corp. has brokered the sale of Iroquois Center, a 108,412-square-foot retail center in the Chicago suburb of Naperville. Northpond Partners purchased the asset for an undisclosed price. Some of the tenants at the value-add property include Planet Fitness, Duly Health and Care, Illiana Financial Credit Union and Cookies by Design. Joe Girardi, Rick Drogosz and Bine Wineman of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Pine Tree managed the property.
CHICAGO — Lessen, a company for outsourcing real estate property services, has signed a lease to relocate its Chicago office to a 77,000-square-foot space at 203 North LaSalle Street in the city’s Central Loop tech district. Last year, Lessen acquired SMS Assist, a facilities maintenance technology company headquartered in Chicago, marking Lessen’s corporate entry into the market. The company’s Chicago office is currently located at 130 E. Randolph St. Lessen expects to move into its new office in the first quarter of 2025. The new office is located adjacent to Google’s forthcoming Chicago office in the Thompson Center. Sumitomo Corp. owns 203 North LaSalle Street, which rises 17 stories.
CHICAGO — Summit Design + Build has completed an adaptive reuse project for Burdeen’s Jewelry at 120 E. Oak St. in Chicago’s Gold Coast as well as interior renovations to the existing Burdeen’s Jewelry store at 11 E. Walton St. at the base of the Waldorf Astoria. The 120 E. Oak St. project consisted of the interior build-out for Burdeen’s as well as two luxury flagship stores situated on either side. The two-story luxury jewelry store totals more than 10,000 square feet and shares an outer structure with Panerai and IWC. Project highlights include a watchmaking studio, transparent glass floor and large skylight. The location marks Burdeen’s fourth in the Chicago area. Hirsch MPG served as the architect. The renovated space at 11 E. Walton St. features individual luxury brand spaces for Jaeger-LeCoultre, Roger Dubuis and Piaget. Dunne Kozlowski was the architect.
STILLWATER, MINN. — JLL Capital Markets has arranged the sale and financing of Rivertown Commons, a 96-unit Section 8 affordable seniors housing community situated along the St. Croix River in Stillwater. The seven-story building totals 55,800 square feet. Amenities include a game room, library and private garden patio. Josh Talberg and Doug Childers of JLL represented the seller, Dominium Management, and procured the buyer, Standard Communities. The buyer plans to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early, Ken Dayton and Pat McMullen of JLL arranged acquisition financing through Freddie Mac.
NOVI, MICH. — LK Esthetics has leased 1,400 square feet of retail space at Beck Village Plaza in Novi. The property is located at the southeast quadrant of Beck Road and Pontiac Trail. Jack Melton and Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord, while Haley Kelly of Keller Williams Showcase represented the tenant.
CHARLOTTE, N.C. — Constellation Real Estate Partners has acquired 41.4 acres of land in Charlotte, with plans to develop a speculative industrial building at the site. Upon completion, the property, dubbed Constellation 485 South, will total 374,220 square feet. The rear-load building will feature 36-foot clear heights, trailer parking, ESFR sprinkler systems and LED lighting. ARCO Design/Build designed the development, which will accommodate tenant occupancies ranging from 100,000 to 374,000 square feet. Construction is scheduled to begin in July and expected to be completed in August 2025. Henry Lobb, Abby Rights and Garrott Braswell of Avison Young will manage marketing and leasing for the project, with Chris Skibinski of Avison Young providing capital markets strategic advisory services.
CHARLOTTE, N.C. — McShane Construction Co. has completed The Kendry, a 300-unit apartment community situated on 28 acres in Charlotte, on behalf of developer RangeWater Real Estate. Poole & Poole Architecture designed the development, which features 10,000 square feet of amenity space. Amenities at the property, which is positioned near the University of North Carolina at Charlotte campus, include a swimming pool, two courtyards with firepits, a dog park, fitness center, craft and game room, and workspace.
FAIRFAX, VA. — Marcus & Millichap’s Institutional Property Advisors (IPA) has brokered the sale of Fair Oaks Plaza, a 180,000-square-foot office building located in the Northern Virginia city of Fairfax. A private investor acquired the property, which was 90 percent leased at the time of sale, for an undisclosed price. The building was renovated in 2022. Robert Filley, Chandler Pace and Stacey Milam of Marcus & Millichap represented the seller, Novel Office, in the transaction.
JOHNS CREEK, GA. — Big V Property Group has acquired Johns Creek Town Center, a 303,297-square-foot retail center located at 3630 Peachtree Parkway in Johns Creek, roughly 30 miles northeast of Atlanta. Sprouts Farmers Market anchors the property, which was built in 2001 and almost fully leased at the time of sale. Other tenants at the center include HomeGoods, Michaels, Market by Macy’s, Kohl’s, PetSmart and Ulta Beauty. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the undisclosed seller in the transaction.