CHERRY HILL, N.J. — Five new tenants have signed leases totaling approximately 30,000 square feet at Cherry Hill Mall, a 1.4 million-square-foot shopping center in Southern New Jersey. Alo Yoga, Kendra Scott and Signature Workspace are scheduled to open at the property this year. Dry Goods and Rowan have also signed leases at the center, with the latter scheduled to open next spring. Pennsylvania Real Estate Investment Trust (PREIT) owns and manages the property.
AURORA, ILL. — Redwood Living Inc. is nearing completion of Redwood Aurora, a 140-unit build-to-rent community in the Chicago suburb of Aurora. The single-story development will offer eight different floor plans ranging in size from 1,294 to 1,709 square feet. Each of the homes will feature two bedrooms, two bathrooms and a two-car garage. The property is located at 1241 Coffeeberry Lane near I-88. Monthly rents will start at $2,649. Redwood has developed more than 18,000 single-story apartment homes.
BRISTOL, WIS. — ERMCO has signed a 158,000-square-foot industrial lease for 10 years at Bristol Business Park in the southeast Wisconsin city of Bristol. The Tennessee-based tenant manufactures electrical, technology and low voltage systems, and building automation and controls. Sean Kropke and Keith Puritz of Cushman & Wakefield represented ERMCO, while the brokerage firm’s Keith Puritz, Brett Kroner and Marc Sameuels represented the landlord, Illinois-based Janko Group. ERMCO will relocate from its current north suburban Chicago location to Bristol this summer. Bristol Business Park features nine buildings on 250 acres. ERMCO will be based in Building 4, which features a clear height of 32 feet, 30 expandable exterior dock doors, 215 parking spaces and 4,000 amps of power.
OSWEGO, ILL. — First National Realty Partners (FNRP) has acquired Townes Crossing, a 105,731-square-foot shopping center in the western Chicago suburb of Oswego. The purchase price was undisclosed. A 65,000-square-foot Jewel-Osco grocery store anchors the property and has been a tenant for over 30 years. Additional tenants include Phenix Salon Suites, Oswego Dental, The UPS Store and Subway. Evan Halkias of Cushman & Wakefield represented the undisclosed seller.
DETROIT — Architecture firm Gensler has relocated its Detroit office from 150 W. Jefferson Ave. to 1265 Griswold St. in the city’s Capitol Park neighborhood. The 7,300-square-foot space is situated on the ground floor of the historic Bamlet Building, which is owned by Bedrock. The office offers a mix of spaces for focused work, teamwork and gathering; a resource library of sustainable design materials; and a 3D printing workshop.
ELMHURST, ILL. — Cicero Construction Group has completed the build-out of a third HOTWORX fitness studio in metro Chicago. The newest studio is located at 100 N. Addison Ave. in Elmhurst. Previously, Cicero renovated spaces in Chicago’s River North neighborhood and in Naperville. Cicero’s scope of work at the Elmhurst facility included installing mechanicals, drywall, paint, flooring and the building of bathrooms and a lobby. The team also installed infrared saunas and an expansive list of exercise systems. Like the River North and Naperville locations, the Elmhurst studio is open and staffed 24 hours a day, seven days a week. It offers members a variety of virtual-instructed 30-minute Isometric (ISO) and 15-minute High Intensity Interval Training (HIIT) workouts inside infrared saunas. Semi-private sessions include Yoga, Pilates, ISO, Barre, Core, Buns, Cycle and Thunder Row.
SAN DIEGO — Simon has announced plans for the development of a new mixed-use project at its Fashion Valley shopping center in San Diego. Upon completion, the redevelopment project will add 100,000 square feet of new retail space to the center, as well as new restaurants and an 850-unit, AMLI-branded apartment community. Construction is scheduled to begin in late 2025, with completion anticipated in late 2026. Fashion Valley recently underwent a multimillion-dollar capital improvement program and added brands Dior, Bottega Veneta, David Yurman and Dolce & Gabbana. New tenants Celine, Christian Louboutin and Fendi have also signed leases at the property.
BELLEVUE, WASH. — Koelsch Communities has neared completion of Belle Harbour, a seniors housing community in Bellevue, a suburb of Seattle. The developer expects to open the $93 million project this summer. The campus comprises The Park at Belle Harbour, an assisted living community, and The Inn at Belle Harbour, a dedicated memory care community. Encompassing nearly three acres, the boutique campus features 145 suites across both buildings, with the assisted living community containing 73 private studios, one-bedroom and two-bedroom units. The memory care building has 72 suites ranging from private to shared and “neighborhood” options. The new campus follows the recent completion of University Village, a Koelsch community in Vancouver, approximately 180 miles south in the suburbs of Portland, Oregon. The $112 million development encompasses 13 acres and features 136 suites in its independent living community, The Park at University Village, and 101 suites in its assisted living community, The Inn at University Village. Additionally, The Park has 26 cottages comprised of one-, two- and three-bedroom homes. Resident move-ins began in late 2023 and the campus is currently more than 50 percent occupied. Koelsch Construction served as general contractor for both developments, with Shearer Construction as a partner on …
SANTA CRUZ, CALIF. — A public-private partnership between The University of California (UC) Santa Cruz and Redtree Partners is set to break ground on a residence hall development. Santa Cruz is located in the Central Coast region. The community will be located on Delaware Avenue and will offer 400 beds for upper-division undergraduate students, along with units for 60 university employees. The student housing portion of the project will offer rents priced at 20 percent below market rate and the employee housing will be priced at approximately 5 percent below market rate. Seven employee units will meet the city’s affordable housing designation, and another 12 units will be available to moderate-income employees. The university will lease the units from owner and developer Redtree Partners upon completion. Construction is scheduled to begin this summer with completion planned for fall 2026.
HAWTHORNE, CALIF. — Talonvest Capital has closed a $36.8 million bridge loan for a self-storage facility in Hawthorne, in the South Bay region of metro Los Angeles. The borrower is 1784 Holdings. The nonrecourse bridge loan includes a three-year term with two extension options and full-term interest-only payments. The financing was funded by a unique lending program. Jim Davies, Britt Taylor Mason Brusseau, Tom Sherlock and Lauren Maehler of Talonvest represented the borrower.