DALLAS — Lee & Associates has negotiated a 28,562-square-foot industrial lease in northwest Dallas. The building at 10701 N. Stemmons Freeway totals 83,370 square feet. Adam Graham and Ken Wesson of Lee & Associates represented the landlord, Mississippi-based EastGroup Properties, in the lease negotiations. The tenant was Baker Distributing Co. No other third-party brokers were involved in the deal.
WAUKEE, IOWA — GreenLake Asset Management LLC has provided a $35.3 million construction loan for KeeTown Loop, a 40-acre master-planned entertainment district in Waukee, a western suburb of Des Moines. The project will be anchored by a 3,500-seat Live Nation concert venue. Additional plans call for an 88-unit apartment complex and two hotels: Aloft Hotel by Marriott and Home2 Suites by Hilton. There will also be 22,000 square feet of office space and 51,000 square feet of retail space. Spaces for Starbucks and McDonald’s are currently under construction. Future plans call for additional restaurants, a microbrewery and a variety of other retail concepts. GreenLake’s funding will enable the borrower to complete construction of the Live Nation venue and to purchase the land to be used for parking.
ST. LOUIS — Berkadia has negotiated the sale of Majestic Stove Lofts, a 120-unit multifamily property in St. Louis. The sales price was undisclosed. Located at 2017 Washington Ave. and built in 2006, the community was 96 percent occupied at the time of sale. Andrea Kendrick, Ken Aston and Bobby Mills of Berkadia represented the seller, St. Louis-based Regency Realty Co. LLC. The asset sold to a California-based buyer.
MATTOON, ILL. — Mid-America Real Estate Corp. has brokered the sale of Mattoon Marketplace, a community shopping center located in the southern Illinois city of Mattoon. The sales price was undisclosed. The property is 98 percent leased to tenants such as PetSmart, Dollar Tree, Cato, Hibbett Sporting Goods, Aspen Dental, Buffalo Wild Wings, Verizon and Shoe Sensation. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, United American Properties. Chase Properties was the buyer.
AURORA, ILL. — Principle Construction Corp. has begun tenant improvements for a 282,588-square-foot building located at 2000 Deerpath Road in Aurora. The tenant, Tailored Brands, owns brands such as Men’s Wearhouse, Jos. A. Bank and family retailer K&G Fashion Superstore. The Aurora facility will support the company’s clothing rental business, including infrastructure for dry cleaning, laundry, repair and storage of tuxedos and other formalwear. Principle will add a 13,491-square-foot boiler and dry-cleaning room with a dedicated structural pipe support mezzanine. The team is also installing 20 new 25-ton rooftop air conditioning units, 14 interlocking exhaust fans and 29 docks. Partners in Design is the project architect. Completion is slated for February 2024.
CHICAGO — GoodVets, a Chicago-based full-service veterinary care provider, has leased ground-floor retail space at Optima Lakeview, a 198-unit luxury apartment community in Chicago’s Lakeview neighborhood. The tenant is scheduled to open the 2,656-square-foot location in December. GoodVets offers a comprehensive range of veterinary services, including preventive care, surgery, dentistry and wellness programs. The Lakeview location represents the sixth Chicago-area office for GoodVets and its second within an Optima Inc. apartment building. Designed by David Hovey Sr. and completed in 2022, Optima Lakeview occupies the site of a shuttered Treasure Island Foods grocery store.
GREENWICH, CONN. — CBRE has arranged the $15.5 million sale of a 43,985-square-foot boutique office building in the southern coastal Connecticut city of Greenwich. Jeffrey Dunne, Steven Bardsley, Travis Langer and Daniel Blumenkrantz of CBRE represented the seller, an entity managed by Collins Capital Partners LLC, in the transaction. The team also procured the buyer, HBN 53 Forest LLC, which is managed by regional owner HB Nitkin. The building was 82 percent leased at the time of sale.
JERSEY CITY, N.J. — Arc Building Partners and Claremont Development have completed The St. Lucy’s Complex, a 60,000-square-foot supportive housing project in Jersey City. The newly expanded campus features 150 beds for individuals who are homeless; 14 residential units for individuals living with HIV/AIDS; five three-bedroom permanent supportive housing units for families; 15 permanent affordable housing studio apartments; a daily drop-in area for nonresidents needing a meal, shower or laundry; and onsite social services programs. The project took roughly two years to construct.
ORANGE, N.J. — New Jersey-based developer Prime City has broken ground on two affordable housing projects in the Northern New Jersey community of Orange. The projects at 150 and 151 Taylor St. will consist of four one-bedroom townhomes averaging 1,100 square feet and a nine-building complex, respectively. Delivery is slated for 2025. Information on specific income restrictions was not disclosed.
FREMONT, CALIF. — MG Properties has acquired Artist Walk Apartments, a multifamily community in Fremont, from Clarion Partners for $89.7 million. Built in 2017, Artist Walk features 185 apartments and 30,000 square feet of ground-floor retail space. Jason Parr, Seth Siegel and Scott MacDonald of Cushman & Wakefield represented the seller in the deal. Andrew Behrens, Jesse Weber and Stephen Baird of CBRE Capital Markets arranged financing, provided by Freddie Mac, for the transaction.