Sunday, July 27, 2025
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AcquisitionsMidwestMissouriMultifamily

Avanti Residential Acquires Summit Square Apartment Community in Metro Kansas City for $80M

by Kristin Harlow

LEE’S SUMMIT, MO. — Avanti Residential has acquired the 308-unit Summit Square apartment community in the Kansas City suburb of Lee’s Summit for $80 million. Avanti now owns eight apartment properties in the greater Kansas City market. Built in 2018, Summit Square is located at 789 NW Donovan Road. Mac Crowther and Whittaker Potts of Newmark represented the seller, NorthPoint Development. Avanti owns and operates more than 8,000 apartment units in Colorado, Arizona, Utah, Florida and metro Kansas City.

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AcquisitionsArizonaIndustrialWestern

Cohen Asset Management Buys Falcon Park 303 Industrial Asset in Glendale, California for $81.7M

by Jeff Shaw

GLENDALE, ARIZ. — An affiliate of Cohen Asset Management has purchased Phase I of Falcon Park 303 in Glendale for $81.7 million.  The 599,486-square-foot, Class A industrial building was built on a speculative basis in 2022 and is fully leased. It is part of a larger industrial campus totaling 925,504 square feet. The property is located at 15132 West Camelback Road. Will Strong, Kirk Kuller, Micki Strain and Molly Hunt with Cushman & Wakefield’s National Industrial Advisory Group – Mountain West team represented the seller, USCD.

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DevelopmentIllinoisIndustrialMidwest

Seefried Properties, Edged Energy Begin Development of Data Center Campus in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Seefried Industrial Properties and Endeavour’s Edged Energy division have broken ground on a three-building data center campus in Aurora. Located on a four-way interchange at I-88 and Eola Road, the 65-acre project will be constructed in phases. The first building is slated for completion in June 2024. The project will feature sustainable initiatives such as advanced waterless cooling technology, electric vehicle charging and onsite solar panels. ComEd, the electrical company serving northern Illinois, is providing the infrastructure needed to power the new campus from its nearby regional substation. Seefried and Edged Energy also intend to add a new substation on site to support future phases of development. FCL Builders is the general contractor, Ware Malcomb is the architect and Kimley-Horn is the civil engineer. Paul Roeser and Ryan O’Leary of KBC Advisors represented Edged Energy on the transaction, while Jim DeRose and Michele Keller of DuPage Property Venture represented the land seller.

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ColoradoDevelopmentIndustrialWestern

LaPour Partners to Build 359,800 SF Industrial Park in Broomfield, Colorado

by Jeff Shaw

BROOMFIELD, COLO. — LaPour Partners has received governmental approval to build Arista 36, a 359,800-square-foot, Class A industrial park in Broomfield. The company plans to break ground in September for delivery in early 2025.  The three-building project is situated on a nearly 30-acre site in the northwest section of the city. It will feature 48 electric vehicle charging stations; two tenant community gathering spaces with shade elements and plenty of seating; walking and bike trail tie-ins; and enclosed bike racks for bike-to-work capability.  Stream Realty Partners’ Tyler Reed, Peter Beugg, Dominic DiOrio and Buzz Miller will handle leasing at the property.

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DevelopmentIndustrialMidwestMissouri

McCarthy Breaks Ground on USDA Food Safety, Inspection Service Lab in Normandy, Missouri

by Kristin Harlow

NORMANDY, MO. — McCarthy Building Cos. has broken ground on the new home of the USDA’s Food Safety and Inspection Service Midwestern Laboratory in Normandy, a northwest suburb of St. Louis. The state-of-the-art, 83,000-square-foot facility will support science and technology to address present and future public health challenges. The project will consist of two loading docks for shipping and receiving, a large warehouse for field operations storage, a processing center, microbiology labs, chemistry labs and administrative offices. The General Services Administration signed a lease with US Federal Properties for a term of 20 years and a total contract value of $115.5 million. Site and civil work are expected to be completed in the fall, with building construction occurring in 2024 and 2025. Hoefer Welker is the designer. The Food Safety and Inspection Service’s roughly 60 employees at its St. Louis-based laboratory are expected to move to the new facility in mid-2025.

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AcquisitionsCaliforniaLife SciencesWestern

DivcoWest Buys 72,506 SF Life Sciences Building in San Diego

by Jeff Shaw

SAN DIEGO — DivcoWest has purchased a 72,506-square-foot, Class A life sciences building in the San Diego submarket of Torrey Pines.  The fully leased building is located at 11119 N. Torrey Pines Road. This represents the first Torrey Pines acquisition by a private real estate investor since 2000. It is one of only three research properties in the market not owned by a public REIT, nonprofit or owner/user.  The seller is an affiliate of Alexandria Real Estate Equities. Eastdil Secured marketed the property to a limited group of qualified buyers.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $16.9M Sale of Luxury Apartment Complex in Highwood, Illinois

by Kristin Harlow

HIGHWOOD, ILL. — Interra Realty has brokered the $16.9 million sale of Station440 in Highwood, a North Shore suburb of Chicago. The 48-unit luxury apartment complex is located at 440 Green Bay Road. Constructed in 2022, the community features amenities such as covered parking, a fitness center, community room, lounge and roof deck. Craig Martin of Interra represented the seller, Benchmark Developers, and the buyer, Chicago-based HP Ventures Group.

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Leasing ActivityNew YorkNortheastRetail

Lidl to Open 34,484 SF Grocery Store at Glen Oaks Shopping Center in Queens

by Taylor Williams

NEW YORK CITY — German discount grocer Lidl will open a 34,484-square-foot store at Glen Oaks Shopping Center in Queens. Ken Schuckman of Schuckman Realty represented Lidl in the lease negotiations. Randall Briskin represented the landlord, The Feil Organization, on an internal basis. The store, which is scheduled to open sometime next year, will be Lidl’s third in the borough.

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IllinoisLeasing ActivityMidwestOffice

Bradford Allen Negotiates Two Office Leases Totaling 35,000 SF at Five-Story Building in Deerfield, Illinois

by Kristin Harlow

DEERFIELD, ILL. — Bradford Allen has negotiated two leases totaling 35,000 square feet at 570 Lake Cook Road, a five-story office building in the northern Chicago suburb of Deerfield. The 138,000-square-foot office building was renovated last year. Venture X signed a 19,000-square-foot lease to open a new coworking location. Expected to open later this year, the location will be the company’s second within Chicagoland. Joel Berger of Bradford Allen represented ownership, while Vic Sanmiguel of Bespoke Commercial Real Estate represented the tenant. Planning and design consulting firm Kimley-Horn signed a long-term extension and expanded its footprint to 16,000 square feet. Berger represented ownership, while Hayden Rasmussen and Jon Azulay of Savills represented the tenant.

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Leasing ActivityNew JerseyNortheastOffice

Dynamic Engineering Consultants Signs 15,486 SF Office Lease Expansion in Chester, New Jersey

by Taylor Williams

CHESTER, N.J. — Dynamic Engineering Consultants has signed a 15,486-square-foot office lease expansion at 245 Main St. in the Northern New Jersey community of Chester. Dynamic Engineering has been a tenant at the property, which was originally built in the 1920s as a school building and converted to office usage in 2017, since 2006. Rob Marek represented the landlord, Larken Associates, in the lease negotiations on an internal basis.

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