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Grand-Hyatt-Deer-Valley-Park-City-UT
DevelopmentHospitalityUtahWestern

Hyatt Opens 436-Key Grand Hyatt Deer Valley Hotel in Park City, Utah

by Amy Works

PARK CITY, UTAH — Hyatt Hotels Corp. has opened Grand Hyatt Deer Valley, a 436-key resort at Extell Development Co.’s Deer Valley East Village in Park City. Grand Hyatt Deer Valley provides direct access to Deer Valley Resort, including more than 300 skiable acres, 20 debut runs and three chairlifts, and is expected to open for the 2024/2025 season in December, conditions permitting. Designed by Denver-based OZ Architecture, Grand Hyatt Deer Valley offers 381 guest rooms and 55 residences. All rooms are equipped with flat-screen HDTVs, Nespresso coffee makers, blackout curtains, individual climate control, hair dryers, bathrobes and minifridges. The resort also features a heated outdoor pool, three oversized hot tubs, a pool deck and a nighttime entertainment program. The property offers four restaurants, Remington Hall, Hidden Ace, Living Room and Double Blacks; nearly 30,000 square feet of indoor and outdoor event space, including a 10,000-square-foot ballroom; skier services; pet-friendly programming; Camp Hyatt Kids Club; and The Spa at Grand Hyatt Deer Valley.

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Heron-View-Apts-Kenmore-WA
AcquisitionsMultifamilyWashingtonWestern

Weidner Apartment Homes Sells Heron View Multifamily Community in Kenmore, Washington for $19.9M

by Amy Works

KENMORE, WASH. — Weidner Apartment Homes has completed the sale of Heron View, a multifamily property in Kenmore, to Wright Investment Properties for $19.9 million, or $276,042 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 1987, Heron View features three residential buildings and a leasing office surrounding a central parking lot. The community offers 72 one- and two-bedroom apartments, averaging 797 square feet, with white appliances, laminate countertops, washers/dryers and wood-burning fireplaces.

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Escondido-Logistics-Center-Escondido-CA
AcquisitionsCaliforniaIndustrialWestern

San Diego County Water Authority Buys 88,552 SF Industrial Building in Escondido

by Amy Works

ESCONDIDO, CALIF. — San Diego County Water Authority (SDCWA) has acquired a freestanding industrial building in Escondido from RPG for $38.8 million in a forward sale. The 88,552-square-foot property was still under construction when the acquisition occurred. Situated on 9.5 acres at 1960 Citracado Parkway, the building features a clear height of 28 feet, heavy power, a large truck court and abundant loading positions. The property was originally part of Escondido Logistics Center, a planned two-building industrial project. The second building, totaling 58,502 square feet, is currently under construction with completion slated for January 2025. Aric Starck and Drew Dodds of Cushman & Wakefield represented the seller.

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Oakbrook-Shopping-Center-Littleton-CO
AcquisitionsColoradoRetailWestern

Marcus & Millichap Arranges Sale of 78,571 SF Oakbrook Shopping Center in Littleton, Colorado

by Amy Works

LITTLETON, COLO. — Marcus & Millichap has brokered the sale of Oakbrook Shopping Center, a retail property located at 309-311 E. County Line Road in Littleton. The property consists of a 30,466-square-foot neighborhood strip center, fully leased to 15 tenants, and a 48,214-square-foot anchor space, which is occupied by O’Reilly Auto Parts Super Hub. The assets sold in separate transactions to different buyers for a combined total of $13.5 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, Denver-based Sidford Capital, in the transaction.

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DevelopmentIllinoisIndustrialMidwest

Krusinski to Build 788,000 SF Spec Industrial Project in Plainfield, Illinois

by Kristin Harlow

PLAINFIELD, ILL. — Krusinski Construction Co. will serve as general contractor for a 788,000-square-foot speculative industrial project within Plainfield Business Center in the southwest Chicago suburb of Plainfield. Trammell Crow Co. (TCC) is the developer. Named TCC Stewart South Phase I, the 52-acre project is slated for occupancy in fall 2025. The cross-dock facility is being marketed as a single-tenant property, but it will be divisible for multiple users. The building will feature a clear height of 40 feet, 80 dock-level doors, four drive-in doors and parking for 392 cars and 211 trailers. Future phases of Plainfield Business Center are currently being planned. At full build-out, the development will encompass over 8 million square feet of industrial space. The project team includes Harris Architects and civil engineer Kimley-Horn. Edward Notz of Associated Bank originated a $43.6 million construction loan.

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AcquisitionsMidwestMissouriRetail

Block & Co. Arranges Sale of 19-Property Minit Mart Portfolio in Metro Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Block & Co. Inc. Realtors has arranged the sale of a 19-property Minit Mart portfolio in metro Kansas City for an undisclosed price. Greg Roberts of Block & Co. represented the buyer, Tarkio Real Estate LLC. The portfolio will be transitioned into independent liquor and corner stores. All gas pumps will be rebranded to Phillips 66.

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AcquisitionsIndustrialMidwestMinnesota

MLG Capital Acquires Nine-Building Industrial Portfolio in Suburban Minneapolis

by Kristin Harlow

EDINA AND EDEN PRAIRIE, MINN. — MLG Capital has acquired the Golden Triangle Portfolio in suburban Minneapolis for an undisclosed price. The flex portfolio includes a blend of industrial and office space across nine buildings in Edina and Eden Prairie. Golden Triangle is the 20th acquisition within MLG’s most recent fund, MLG Private Fund VI, and its 48th investment in metro Minneapolis. MLG partnered with Big River Real Estate on the acquisition.

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DevelopmentIllinoisIndustrialMidwest

Meridian Completes 51,500 SF Manufacturing Facility for IPC in Bartlett, Illinois

by Kristin Harlow

BARTLETT, ILL. — Meridian Design Build has completed a 51,500-square-foot manufacturing facility for International Packing & Crating (IPC) at 1313 Jack Court in the Chicago suburb of Bartlett. The project included 3,700 square feet of office/employee space and 47,800 square feet of shop improvements, including compressed air piping, dust collection ductwork, power distribution and lighting to support a full-service crating and custom packaging operation. The project team included Heitman Architects Inc. and civil engineer V3 Cos. Ltd.

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Leasing ActivityMidwestMinnesotaOffice

Kipsu Signs 38,000 SF Office Lease at Butler Square in Downtown Minneapolis

by Kristin Harlow

MINNEAPOLIS — Kipsu has signed a 38,000-square-foot office lease at Butler Square, a historic office building totaling 367,717 square feet in downtown Minneapolis. The Frontline Customer Experience (FCX) software company will move into its new space on the seventh floor in January. Ann Rinde of CBRE represented the landlord, Butler Properties LLC. Brandon Megal of CBRE represented Kipsu. Butler Square is located within the Warehouse District at 100 N. 6th St. Built in 1906 and extensively renovated in 2020-2021, the nine-story building features amenities such as bike storage, new shower rooms, onsite childcare, a tenant lounge, Skyway access and a conference room.

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AcquisitionsIndustrialNorth CarolinaSoutheast

Rockpoint Sells 233,818 SF Industrial Facility in Apex, North Carolina

by John Nelson

APEX, N.C. — Boston-based Rockpoint has sold Building I at Apex Commerce Center, a four-building industrial park totaling 845,000 square feet in Apex, a city roughly 15 miles southwest of Raleigh. LaSalle Investment Management purchased the 233,818-square-foot facility for an undisclosed price. Dave Andrews and Pete Pittroff of JLL represented Rockpoint in the transaction. Building I at Apex Commerce Center was built in 2023 and was fully leased at the time of sale. The rear-load facility features 32-foot clear heights, ESFR sprinklers and LED lighting. Building I is the first of four buildings at Apex Commerce Center, which Rockpoint developed in partnership with Oppidan Investment Co.

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