Property Type

Dick’s Sporting Goods to Open at Rosedale Center in Roseville, Minnesota

by Kristin Harlow March 30, 2023

ROSEVILLE, MINN. — Dick’s Sporting Goods has signed a lease to open a new store at Rosedale Center, a 1.1 million-square-foot shopping center in Roseville, a suburb of the Twin Cities. The retailer will occupy a new building at the parcel formerly home to Herberger’s. Construction of the new store has begun, with completion slated for late 2024. JLL’s retail development partner, Poag Development Group, is overseeing construction management. Holly Rome of JLL leads the leasing efforts for Rosedale Center and secured the lease with Dick’s. Recent tenant additions at Rosedale Center include Aspen Dental, PNC Bank, Caribou Coffee, Raising Cane’s, Shake Shack and Panera Bread.

March 30, 2023

Illinois Leasing Activity Midwest Office

CBRE Negotiates Office Headquarters Lease for Chicago Red Stars Soccer Club

by Kristin Harlow March 30, 2023

CHICAGO — CBRE has negotiated a new office headquarters lease on behalf of the Chicago Red Stars of the National Women’s Soccer League. The tenant will occupy 10,417 square feet at 820 W. Jackson in Chicago’s West Loop neighborhood. The team’s new office space features a front office, offices for leadership, conference areas and common areas. Bill Sheehy and Rachel Galindez of CBRE represented the Chicago Red Stars. The landlord was undisclosed.

March 30, 2023

Leasing Activity Retail Texas

Four Retailers Sign Leases to Join Grove at Harper’s Preserve in Conroe, Texas

by Taylor Williams March 30, 2023

CONROE, TEXAS — Four retailers have signed leases totaling 14,880 square feet at The Grove at Harper’s Preserve, a 21,500-square-foot center in Conroe, approximately 40 miles north of Houston. Mayweather Boxing + Fitness, Thrive Massage, Pet Supplies Plus and Heartland Dental will be the newest tenants to join the property, which was developed by Gulf Coast Commercial Group. Other tenants include Dutch Bros. Coffee, AT&T, Freebirds World Burrito, Jersey Mike’s Subs and Cookie Co. Scheduled to open this summer, Mayweather and Thrive will occupy 2,300 and 2,380 square feet, respectively. Ryan Chandler of The Retail Connection represented Mayweather in the lease negotiations. Pet Supplies Plus, which was represented by Lunden McGill of Baker Katz, will occupy 6,000 square feet at the center. Heartland Dental will develop a 4,200-square-foot freestanding building at the property’s second pad site. Shireen Owlia of NewQuest Properties represented Heartland. Anderson Smith and Brett Levinson of Main Street Commercial Partners represented the landlord in all the lease negotiations.

March 30, 2023

Affordable Housing Indiana Loans Midwest Multifamily

JLL Provides $18.2M Acquisition Loan for Affordable Housing Community in Lafayette, Indiana

by Kristin Harlow March 30, 2023

LAFAYETTE, IND. — JLL Capital Markets has provided an $18.2 million Freddie Mac loan for the acquisition of Cambridge Estates, a 358-unit affordable housing community in Lafayette. About 41 percent of the units are covered by a long-term, project-based Section 8 Housing Assistance Payments contract. Constructed between 1973 and 1977, Cambridge Estates includes 40 buildings and is located at 3605 Brandywine Court. Brock Yaffe, Tony Nargi and Nelson Almond of JLL originated the fixed-rate loan on behalf of the borrower, Brikwell.

March 30, 2023

Illinois Industrial Leasing Activity Midwest

O2C Brands Signs 75,036 SF Industrial Lease in Zion, Illinois

by Kristin Harlow March 30, 2023

ZION, ILL. — O2C Brands, a Chicago-based designer and manufacturer of consumer products, has signed a 75,036-square-foot industrial lease in Zion, a city in Northeast Illinois. O2C’s products are sold in brick-and-mortar, e-commerce, healthcare, international and promotional channels under five different brands: O2COOL, Treva, LunchBots, Ecovessel and Ukonserve. O2C Brands retained Entre Commercial Realty in early 2022 for site selection services to support its growing business and distribution requirements. Dan Benassi and Sam Deihs of Entre represented the tenant in its lease at 451 Trumpet Road in Zion. The facility, constructed in 2009, features a clear height of 30 feet, eight exterior truck docks and an office buildout. Pat Hake, Ned Frank and Chris Volkert of Colliers represented the landlord, LINK Logistics.

March 30, 2023

Acquisitions Indiana Midwest Retail

Quantum Brokers $4M Sale of Retail Center in Portage, Indiana

by Kristin Harlow March 30, 2023

PORTAGE, IND. — Quantum Real Estate Advisors Inc. has brokered the $4 million sale of a 26,500-square-foot retail center in Portage, a city in Northwest Indiana. Built in the mid-2000s, the property was 89 percent leased at the time of sale to tenants such as Rush Physical Therapy, Indiana Farm Bureau and Edible Arrangements. Chad Firsel of Quantum represented the seller, an Illinois-based developer. A Colorado-based private investor completing a 1031 exchange was the buyer.

March 30, 2023

Acquisitions Industrial Oregon Western

BKM Acquires Airport Business Center Industrial Portfolio in Portland for $37.3M

by Jeff Shaw March 30, 2023

PORTLAND, ORE. — BKM Capital Partners has purchased Airport Business Center in Portland for $37.3 million. The 11-building light industrial portfolio is located at 6756 NE Alderwood Road and 6620-7040 NE 79th Court in Portland’s Columbia industrial corridor. The 228,518-square-foot business park contains 41 units with an average size of 5,600 square feet. The spaces were 92 percent occupied at the time of the sale. BKM acquired the asset through a joint venture partnership with TerraCore Capital.

March 30, 2023

Acquisitions California Industrial Western

Selective Eton Nordhoff Buys 48,550 SF Industrial Property in Los Angeles

by Jeff Shaw March 30, 2023

LOS ANGELES — Selective Eton Nordhoff LLC has acquired a 48,550-square-foot industrial property in the Chatsworth and Canoga Park communities of Los Angeles. Though the purchase price was not disclosed, the asset was listed at nearly $10.5 million and sold for above asking price. The multi-tenant industrial property was built in 1977. It has largely remained the same since that time, save for cosmetic updates over the years. Arthur Pfefferman of Coldwell Commercial Quality Properties represented both the buyer and the seller.

March 30, 2023

Acquisitions California Industrial Loans Western

PSRS Arranges $5.9M in Financing for Industrial Property in Carlsbad, California

by Jeff Shaw March 30, 2023

CARLSBAD, CALIF. — PSRS has arranged $5.9 million in financing for the acquisition of a 32,000-square-foot industrial property in Carlsbad. The deal closed in 35 days to meet the borrower’s 1031 exchange deadline. The non-recourse loan features a five-year term with a 5.55 percent interest rate and a 30-year amortization. Ryan Frankman and Ari Zeen of PSRS arranged the financing through an insurance company.

March 30, 2023

Colorado Leasing Activity Office Western

McCarthy Building Cos. Leases New Office in Denver

by Jeff Shaw March 30, 2023

DENVER — McCarthy Building Cos. has leased a 13,000-square-foot space at One Platte in Denver. The newly developed, 250,402-square-foot office building is located at 1701 Platte St. The new space will allow McCarthy to expand and relocate within the Denver market. The company has been an active player in the market since the mid-1970s. JLL’s David Shirazi, Janessa Biller and Scott Wetzel represented McCarthy in the lease. Newmark represented the landlord, Shorenstein.

March 30, 2023

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