Friday, July 18, 2025
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DevelopmentIllinoisMidwestMixed-Use

Development Team Tops Off The Saint Grand Mixed-Use Building in Chicago

by Kristin Harlow

CHICAGO — The development team of Mavrek Development, GW Properties, Luxury Living and Double Eagle Development, alongside general contractor Lendlease, have topped off construction of The Saint Grand, a 21-story mixed-use building in Chicago’s Streeterville neighborhood. Office tenant build-outs are scheduled for later this year, with residential deliveries expected in early 2024. The project will consist of 248 luxury apartment units, 45,000 square feet of office space and 7,500 square feet of street-level retail space. Amenities will include a package receiving service, coworking lounge, fitness center and outdoor pool deck. Office tenants will enjoy all building amenities as well as a private outdoor space.

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AcquisitionsMidwestMinnesotaOffice

Transwestern Brokers Sale of St. Paul Office Building, Buyer Plans Multifamily Conversion

by Kristin Harlow

ST. PAUL, MINN. — Transwestern Real Estate Services has brokered the sale of Landmark Towers, a 200,000-square-foot office building in St. Paul. The buyer, Sherman Associates, intends to convert the property into apartment units. Mike Salmen and Erik Coglianese of Transwestern represented the undisclosed seller. The property is located at 345 Saint Peter St.

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DevelopmentIllinoisMidwestOffice

BGO Launches Move-In Ready Offices in Chicago, Nationwide

by Kristin Harlow

CHICAGO — BGO has launched Move-In Ready Offices (MIRO) to provide small and medium-sized businesses with immediate access to adaptable workspaces. Current MIRO suites range from 1,000 to 18,000 square feet and offer immediate occupancy and flexible lease terms. BGO currently has MIRO suites available in Chicago, New York, Boston, San Francisco and Washington, D.C. The firm plans to deliver more prebuilt suites across its entire U.S. office portfolio. Gensler and Michaelis Boyd designed the spaces. MIRO offers both private workstations and collaboration spaces. Tenants also benefit from access to amenity centers, townhalls and various perks. As of June 30, BGO had $83 billion of assets under management.

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Affordable HousingDevelopmentMidwestMultifamilyOhio

Woda Cooper, IMPACT Community Action Break Ground on 102-Unit Affordable Housing Community in Ohio

by Kristin Harlow

WHITEHALL, OHIO — Woda Cooper Cos. Inc. and co-developer IMPACT Community Action have broken ground on The Enclave on Main, a 102-unit affordable housing community in Whitehall, an eastern suburb of Columbus. Located at 3540 E. Main St., the project will offer one-, two- and three-bedroom layouts. Units will be restricted for residents who earn 30 to 80 percent of the area median income. There will also be several units adapted for those with mobility challenges and sight or hearing disabilities. Amenities will include a community room with kitchenette and a management office for an onsite community manager. There will also be dedicated space for assisting residents with supportive services such as case management, workforce development and employment training, emergency assistance and financial literacy to be coordinated by IMPACT. The Ohio Housing Finance Agency (OHFA) provided a tax-exempt bond issuance and allocated 4 percent Low-Income Housing Tax Credits and soft funds to the development through its bond gap financing program. Alliant Capital invested in the tax credits to provide equity financing. CF Bank will provide a permanent mortgage and construction loan, through the purchase of the tax-exempt bonds issued by OHFA. Franklin County is providing an additional soft mortgage through …

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AcquisitionsMidwestMinnesotaMultifamilyRetail

JLL Arranges $8.5M Sale of Historic Apartment, Retail Building in Duluth, Minnesota

by Kristin Harlow

DULUTH, MINN. — JLL Capital Markets has arranged the $8.5 million sale of Canal Park Square in Duluth. The property comprises 29 apartment units along with retail space in the city’s Canal Park neighborhood. Originally constructed in 1886, the building underwent a redevelopment in 2015 to convert the second-story office space into luxury apartments. Units average 835 square feet, and amenities include a clubroom and fitness center. Retailers include 310 Pub, Green Mill, Love Creamery, Cloud 9 Bistro, Canal Park Liquor and Rue 48 Salon. Devon Dvorak, Mox Gunderson, Dan Linnell, Josh Talberg and Adam Haydon of JLL represented the seller, Sherman Associates. The buyer was undisclosed.

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Agile-Cold-Claymont
DelawareDevelopmentIndustrialNortheast

Agile Cold Storage to Open 275,000 SF Facility in Claymont, Delaware

by Taylor Williams

CLAYMONT, DEL. — Georgia-based owner-operator Agile Cold Storage will open a 275,000-square-foot facility in Claymont, Del., about 25 miles southwest of Philadelphia. The site is located within First State Crossing, an industrial park that is a redevelopment of a former steel mill. Agile Cold Claymont is expected to create 130 new jobs and involve capital investment of more than $170 million over the next five years.

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DevelopmentMultifamilyNew YorkNortheast

PAZ Management Begins Leasing 39-Unit Multifamily Project in Poughkeepsie, New York

by Taylor Williams

POUGHKEEPSIE, N.Y. — Locally based developer PAZ Management has begun leasing The Flats at Raymond, a 39-unit multifamily project located north of New York City in Poughkeepsie. The property features one- and two-bedroom units ranging in size from 706 to 1,098 square feet. The Flats at Raymond is one of two complexes that comprise the first phase of a larger development known as The Arlington of Poughkeepsie. The second property, a 24-unit adaptive reuse project known as Lofts at The School, began welcoming residents earlier this year and is now 90 percent occupied. Rents at The Flats at Raymond start at $1,975 per month.

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AcquisitionsConnecticutNortheastOffice

Timex Group USA Sells Headquarters Complex in Middlebury, Connecticut, for $7.5M

by Taylor Williams

MIDDLEBURY, CONN. — Watchmaker Timex Group USA has sold its 84,886-square-foot corporate headquarters complex in Middlebury, Conn., for $7.5 million. Chris O’Hara of Coldwell Banker Commercial represented Timex Group in the sale to a partnership between Drubner Equities Florida LLC and Atlantic Management. The site spans 93 acres, and the new ownership plans to redevelop the complex into a 720,000-square-foot industrial park.

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Leasing ActivityNortheastPennsylvaniaRestaurantRetail

Tapville Social to Open 5,307 SF Restaurant at Vision on Fifteenth in Pittsburgh

by Taylor Williams

PITTSBURGH — Tapville Social, a concept that combines craft cocktail flights, self-pouring beer taps and American fare, will open an 5,307-square-foot restaurant with patio seating at The Vision on Fifteenth in Pittsburgh. The eight-story building, which is located in the Strip District, spans 265,000 square feet of office and retail/restaurant space. Joseph Williams and Rachel Forslund of Fort Worth-based brokerage firm Woodmont Co. represented Tapville Social in the lease negotiations. Tommy McCafferty of CBRE represented the landlord, Burns Scalo Real Estate. The opening is slated for 2024.

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New-Hope
DevelopmentIndustrialMixed-UseTexasTop Stories

Joint Venture Breaks Ground on $250M New Hope Mixed-Use Project in Cedar Park, Texas

by Katie Sloan

CEDAR PARK, TEXAS — A joint venture between three Austin-based real estate firms — Cordova Real Estate Ventures, Riverside and Live Oak — has broken ground on Phase I of New Hope, a $250 million mixed-use project located in the Austin suburb of Cedar Park. The first two phases of the project are being developed across six parcels on New Hope Drive. Phase I will include three Class A industrial buildings totaling 271,689 square feet. The second phase of development will include an additional 213,700 square feet of industrial space.  The project is also set to include a 32-acre development named The District at New Hope. This portion of the project is still in design, but could include a mix of retail, entertainment, restaurant, hospitality, office space, and research-and-development space. A timeline for the development was not announced. The project team for New Hope includes Zapalac/Reed Construction Co., McFarland Architecture and Malone Wheeler. Live Oak will market and lease the project’s industrial space, and Travis Robertson with JLL has been tapped to handle leasing of retail and restaurant space. A number of industrial developments are currently underway in suburban Austin, including 5900 Ben White, an industrial project also by Riverside …

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