Sunday, May 17, 2026
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Hampton-Inn-Boston-Peabody
AcquisitionsHospitalityMassachusettsNortheast

Hunter Hotel Advisors Negotiates Sale of Two Boston-Area Properties Totaling 205 Rooms

by Taylor Williams

PEABODY, MASS. — Atlanta-based brokerage firm Hunter Hotel Advisors has negotiated the sale of the Hampton Inn and Homewood Suites Boston Peabody, two adjacent properties totaling 205 rooms that are located on the northeastern outskirts of Boston. Spencer Davidson and Sophia Pittaluga of Hunter Hotel Advisors represented the seller, an undisclosed institutional investment firm, in the transaction. The buyers were both affiliates of regional owner-operator Giri Hotel Management. The sales price was not disclosed.

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HospitalityIllinoisLoansMidwest

Cronheim Hotel Capital Arranges $15.4M Loan for Refinancing of Hyatt Place Hotel in Chicago

by Kristin Harlow

CHICAGO — Cronheim Hotel Capital (CHC) has arranged a $15.4 million loan for the refinancing of the Hyatt Place Chicago South University Medical Center. A Southeast-based bank provided the nonrecourse financing, which features a floating interest rate. David Poncia of CHC arranged the financing on behalf of the borrower, a joint venture between Smart Hotels and the Olympia Cos., the original developers of the hotel and current operators. The property is located at 5225 S. Harper Ave.

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IllinoisLeasing ActivityMidwestOffice

IWG Adds Seven New Coworking Spaces Across Illinois

by Kristin Harlow

ILLINOIS — IWG, a provider of hybrid working solutions with brands including Spaces, Regus and HQ, is adding seven flexible workspaces in metro Chicago. The centers are designed to shorten commute times and provide increased flexibility for residents to work in the communities in which they reside. IWG says its new Illinois locations come on the heels of the business posting its highest-ever revenue and adding 867 new global locations over the course of 2023. IWG added 35 new locations in Illinois in 2023. With these seven new signings, IWG’s footprint now spans 75 locations across the state. Two of the new spaces are in Chicago, while the rest are in Naperville, Buffalo Grove, Libertyville, Naperville and Olympia Fields. IWG predicts that 30 percent of all commercial real estate will be flexible workspace by 2030.

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DevelopmentIndustrialKansasMidwest

CJ Logistics America to Build 291,000 SF Cold Storage Warehouse in Metro Kansas City

by Kristin Harlow

NEW CENTURY, KAN. — CJ Logistics America, a supply chain and technology company, has unveiled plans to build a new cold storage warehouse in New Century, about 30 miles outside of Kansas City. Developed in a joint venture with Yukon Real Estate Partners and BGO, the rail-served project will consist of a 291,000-square-foot warehouse with refrigeration. Completion is slated for the third quarter of 2025. The new warehouse will be attached to Upfield’s production plant through an above-ground conveyor bridge being constructed by Upfield, which is a plant-based food company that produces brands such as Country Crock, I Can’t Believe It’s Not Butter and Imperial. There will be 100,000 square feet available at the project for other tenants.

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AcquisitionsIllinoisMidwestRetail

PMAT Acquires 82,660 SF Shops of Romeoville in Suburban Chicago

by Kristin Harlow

ROMEOVILLE, ILL. — The PMAT Cos. has acquired the Shops of Romeoville, an 82,660-square-foot retail center in the Chicago suburb of Romeoville. The purchase price was undisclosed. Tenants include TJ Maxx, Petco and Discovery Clothing. The lender-owned property had significant remaining instability and was 65 percent occupied with several month-to-month and short-term leases at the time of acquisition, according to PMAT. Within months of closing, PMAT renewed existing anchor tenancy and executed a new long-term lease with Ross Dress for Less. PMAT also worked with the Village of Romeoville to structure incentives to attract the right tenant mix for the remaining gaps. PMAT plans to reinvest in the site in conjunction with the village and to work with the existing retailers to achieve long-term commitments while bringing in new tenants.

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IndustrialLoansMichiganMidwest

Bernard Financial Group Arranges $5M Acquisition Loan for Industrial Property in Canton, Michigan

by Kristin Harlow

CANTON, MICH. — Bernard Financial Group (BFG) has arranged a $5 million loan for the acquisition of a 61,148-square-foot industrial property in Canton, a western suburb of Detroit. Dan Duggan of BFG arranged the loan on behalf of the borrower, 55111 Grand River Partners LLC. StanCorp Life Insurance Co. provided the loan.

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CanalSide-Cambridge
Leasing ActivityMassachusettsNortheastRestaurantRetail

New England Development to Open 14-Eatery Food Hall in Cambridge, Massachusetts

by Taylor Williams

CAMBRIDGE, MASS. — New England Development will open CanalSide Food + Drink, a new food hall in Cambridge, this fall. Situated within the developer’s CambridgeSide mixed-use development, the food hall will feature a bar — dubbed C-Side Bar — as well as 14 eateries. Announced concepts include anoush’ella, Caffé Nero, Chilacates, DalMoros Fresh Pasta To Go, Fresh, InChu, Lala’s Neapolitan-ish Pizza, Nu Burger, Sapporo Ramen and Teazzi Tea Shop. RODE Architects designed the food hall, and Whiting-Turning is serving as the general contractor. The opening is slated for this fall.

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AcquisitionsIndustrialNew JerseyNortheast

SNS Real Estate Buys 30,266 SF Vacant Warehouse in Pennsauken, New Jersey

by Taylor Williams

PENNSAUKEN, N.J. — An affiliate of SNS Real Estate Investment Group has purchased a 30,266-square-foot vacant warehouse in the Northern New Jersey community of Pennsauken. According to LoopNet Inc., the building at 7101 Airport Highway was constructed in 1962 and features a clear height of 14 feet and three exterior dock doors. The site also houses a fenced-in yard area for outdoor storage. Ian Richmond of Colliers brokered the deal. The seller and sales price were not disclosed.

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IndustrialLeasing ActivityNew JerseyNortheast

Resource Realty Negotiates 30,000 SF Industrial Lease Renewal in Fairfield, New Jersey

by Taylor Williams

FAIRFIELD, N.J. — Locally based brokerage firm Resource Realty has negotiated a 30,000-square-foot industrial lease renewal in Fairfield, about 30 miles west of New York City. The 50,000-square-foot building at 11 Madison Road was built on 2.3 acres in 1980. Greg Sabato and Dan Whitehead of Resource Realty represented the landlord, Richards & Robbins, in the lease negotiations. Cresa represented the tenant, PPI Time Zero, an affiliate of electronics manufacturer VIRTEX.

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Red-Lobster-North-Las-Vegas
Company NewsFloridaRetailSoutheastTop Stories

Red Lobster to Sell Assets to Creditors in Chapter 11 Bankruptcy Filing

by Taylor Williams

ORLANDO, FLA. — Red Lobster has voluntarily filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Middle District of Florida. The Orlando-based seafood restaurant chain plans to sell its business to an entity formed and controlled by its existing lenders. Red Lobster, which was founded in 1968 and operates some 600 restaurants across North America, has received a $100 million debtor-in-possession financing commitment from its existing lenders to facilitate this plan. The company stated that it would use the financing and bankruptcy proceedings to drive operational improvements, simplify the business through a reduction in locations and pursue a sale of substantially all its assets. Earlier this month, Red Lobster announced that it would be closing between 50 and 100 restaurants nationwide, a statement that fueled speculation on an imminent bankruptcy filing. Restaurants that were not included in this announcement from earlier in May will remain open throughout the bankruptcy proceedings, and the company says that it is continuing to work with its existing vendors to minimize operational disruption. CNN reports that, at the time of the bankruptcy filing, Red Lobster listed more than $1 billion in debt and less than $30 million in cash on hand. …

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