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One-Liberty-Square-Boston
AcquisitionsMassachusettsNortheastOffice

Synergy Investments Acquires Downtown Boston Office Building for $45M

by Taylor Williams

BOSTON — Synergy Investments has acquired One Liberty Square, a 157,467-square-foot office building in downtown Boston, for $45 million. The 13-story building was originally constructed in 1926 and renovated in 1982. Robert Griffin, Edward Maher, Matthew Pullen, Samantha Hallowell and William Sleeper of Newmark represented the seller, New York-based Clarion Partners, in the transaction. The team also procured Synergy Investments as the buyer. One Liberty Square was 84 percent leased to a roster of 22 tenants at the time of sale.

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1870-W-64th-Ln-Denver-CO.jpg
AcquisitionsColoradoIndustrialWestern

Comunale Properties Purchases Industrial Building in Denver

by Amy Works

DENVER — Comunale Properties has purchased an industrial facility, located at 1870 W. 64th Lane in Denver, from Manhattan Fund XXI LLC for an undisclosed price. The acquisition is part of Comunale’s Private Capital Core long-duration income strategy, which has industrial holdings across six states. The industrial property is fully leased to three tenants. The building features 20-foot clear heights, modern features and tilt-up construction. Brandon Kramer of Marcus & Millichap represented the seller in the deal.

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DevelopmentIllinoisIndustrialMidwest

Peak Construction Underway on 219,041 SF Spec Warehouse in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Peak Construction Corp. is underway on Rock Run Crossing 2 within Rock Run Crossings Business Park in Joliet. The 219,041-square-foot speculative warehouse will feature a clear height of 36 feet, 24 dock doors, two drive-in doors, parking for 209 cars, 63 trailer parking stalls and 2,000 square feet of office space. Completion is slated for the end of the year. The project team includes architect Ware Malcomb, civil engineer Jacob & Hefner Associates Inc. and developer IDI Logistics.

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AcquisitionsIllinoisIndustrialMidwest

Clear Height Properties, Harbert Acquire 103,686 SF Industrial Property in Park City, Illinois

by Kristin Harlow

PARK CITY, ILL. — A joint venture between Clear Height Properties and Harbert US Real Estate has acquired an industrial property located at 700-750 Chestnut Ave. in Park City, a far north suburb of Chicago. The purchase price was undisclosed. The property consists of two buildings totaling 103,686 square feet that are leased to Reyes Coca-Cola Bottling. In addition to the two buildings, the property also features gated outside parking and storage for semi-truck cabs, semi-truck trailers and fleet delivery vehicles. Paige Gunn of Stream Realty Partners represented the buyer. Jason Lev, John Suerth and Jimmy Kowalczyk of CBRE have been retained for leasing.

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DevelopmentIllinoisIndustrialMidwestOffice

Summit Breaks Ground on Farm Foundation’s Innovation, Education Center in Suburban Chicago

by Kristin Harlow

LIBERTYVILLE, ILL. — Summit Design + Build has broken ground on Farm Foundation’s Innovation and Education Center located on the Casey family farm in Libertyville. The nonprofit will occupy a 4,000-square-foot educational barn on a 14-acre site. The project will be home to a media room, demonstration kitchen and office space. There will also be various educational programs aimed to address the critical issues shaping the future of agriculture and food systems. Kahler Slater is the architect, and JLL is the property manager.

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AcquisitionsHospitalityMidwestMinnesota

Marcus & Millichap Brokers Sale of 58-Room Hotel in Baxter, Minnesota

by Kristin Harlow

BAXTER, MINN. — Marcus & Millichap has brokered the sale of the AmericInn Baxter Brainerd, a 58-room hotel in Baxter, a city in central Minnesota. The sales price was undisclosed. Built in 1973, the property is located at 7836 Fairview Road. The hotel was rebranded to AmericInn in 2017. Jake Erickson, Joseph Ferguson, Jared Plamann and Jon Ruzicka of Marcus & Millichap represented the seller. Erickson procured the buyer, which plans to refresh and renovate the property.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Buys 37,601 SF Industrial Building in Elmhurst, Illinois

by Kristin Harlow

ELMHURST, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has acquired a 37,601-square-foot industrial building in Elmhurst for an undisclosed price. The acquisition was structured as a sale-leaseback. Built in 1969, the property features a clear height of 18 feet, two docks, two drive-in doors and parking for 45 cars. Ted Gates and David Prell of CBRE represented the undisclosed seller. VK Industrial VI is co-sponsored by Venture One and Kovitz Investment Group. The fund targets industrial acquisitions in the Chicago, Northeast and Florida markets.

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AcquisitionsMassachusettsNortheastRetail

Horvath & Tremblay Negotiates $6.3M Sale of Shopping Center in Pittsfield, Massachusetts

by Taylor Williams

PITTSFIELD, MASS. — Metro Boston-based brokerage firm Horvath & Tremblay has negotiated the $6.3 million sale of Del Alba Plaza, a 72,119-square-foot, grocery-anchored shopping center in Pittsfield, located in the western part of The Bay State. The center consists of a 61,935-square-foot Stop & Shop grocery store, a 2,000-square-foot fuel station and a three-space, 8,184-square-foot inline building. The property also features a pad site that can support the development of a 3,500-square-foot building. Bob Horvath and Todd Tremblay of Horvath & Tremblay represented the buyer and seller, both of which requested anonymity, in the transaction.

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DevelopmentMassachusettsMultifamilyNortheastSeniors Housing

Anthology Opens Two New Seniors Housing Communities in Boston Area

by Taylor Williams

NATICK AND MILLIS, MASS. — Anthology Senior Living has opened Anthology of Natick and Anthology of Millis, both located in western suburbs of Boston. Located just outside the city center on 5.5 acres, Anthology of Natick offers assisted living and memory care. Anthology of Millis is a luxury community offering independent living, assisted living and memory care services. Callahan Construction Managers served as the general contractor on both projects. The number of units at each property was not disclosed.

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Leasing ActivityNortheastOfficePennsylvania

Goodwin Signs 31,500 SF Office Lease at Schuylkill Yards in Philadelphia

by Taylor Williams

PHILADELPHIA — Global law firm Goodwin has signed a 31,500-square-foot office lease at Schuylkill Yards, a mixed-use development in Philadelphia’s University City district. In early 2024, the firm will relocate from One Commerce Square to the entire eighth floor and part of the seventh floor of the 28-story building at 3025 JFK Blvd. Locally based REIT Brandywine Realty Trust (NYSE: BDN) owns Schuylkill Yards. Greg Soffian of Savills represented Goodwin in the lease negotiations.

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