GLENDALE, ARIZ. — Saddle Creek Logistics Services has signed a deal to occupy a 570,080-square-foot industrial building in Glendale. The tenant is a third-party logistics company specializing in designing and delivering omnichannel logistics solutions for manufacturers, retailers and ecommerce companies. Ladson Montgomery, Rob Stephens and Chase Gabriel of Newmark represented the tenant in the deal. The name of the landlord was not released. The 620-foot-deep building features 40-foot clear heights, 87 dock-high doors, four large grade-level doors, 190-foot concrete truck courts, 132 trailer parking stalls with 89 future trailer stalls, and 356 auto parking stalls. The building also offers clerestory windows, energy-efficient LED lighting, an ESFR fire sprinkler system, two existing groundwater wells in the business center and heavy industrial zoning.
DOVER, N.H. — Northeast Credit Union will relocate its headquarters from Portsmouth to a 100,000-square-foot office space in Dover, located near the Maine-New Hampshire border. The regional nonprofit lending institution will occupy the entirety of the building at 100 Education Way, which rises four stories and was constructed in 2006, according to LoopNet Inc. Maugel DeStefano is leading the design and build-out of the space. Northeast Credit Union expects its new headquarters to be fully operational by early 2025.
HOLBROOK, MASS. — NEI General Contracting has completed construction of Maple on Franklin, a seniors housing project located about 15 miles south of Boston in Holbrook. NeighborWorks Housing Solutions developed the $18.5 million project, which spans 67,000 square feet and features 72 one-bedroom units for residents age 62 and older. The Narrow Gate served as the architect of the project, which involved the demolition of two existing buildings on the site. More than 500 applications were submitted for the 72 available units.
VERNON HILLS, ILL. — A partnership between Focus, Affinius Capital, Atlantic Residential and Centennial has opened The Domaine at Hawthorn Row in the Chicago suburb of Vernon Hills. The 311-unit luxury apartment complex is part of the redevelopment of Hawthorn Mall, a 50-year-old shopping center. The Domaine also features 54,000 square feet of retail space. Amenities include a lounge, dining room, game room, two-story gym, pet spa and outdoor terrace with a pool, sundeck and grilling stations. Units range in size from 600 to 1,330 square feet, while monthly rents start at $1,775. Residents can now earn one month of free rent on select lease terms, according to the property’s website.
ST. LOUIS — Berkadia has brokered the $7.5 million sale of Lynn Town Apartments in St. Louis. The 144-unit, garden-style multifamily property is located at 9675 Muriel Ave. The community was built in 1963. Andrea Kendrick, Ken Aston and Bobby Mills of Berkadia represented the seller, the original developer who had owned the property for 60 years. The buyer was undisclosed.
HANOVER PARK AND WARRENVILLE, ILL. — Associated, a storage and order fulfillment solutions company, has signed two office and industrial leases totaling 178,477 square feet in metro Chicago. The tenant signed a long-term lease to occupy the entire building at 6450 Muirfield Drive in Hanover Park. The property features 160,419 square feet of industrial space, inclusive of 10,000 square feet of office space. With this lease signing, Associated marks the establishment of a new operations facility and doubles its footprint in Chicagoland. The property will house the company’s warehouse operation as well as material handling equipment sales, service, parts and rental functions. In the second transaction, Associated signed a lease for a move-in ready office sublease at 4101 Winfield Road in Warrenville. The space totals 18,058 square feet. Corey Chase of Newmark represented Associated in both leases. Brian Colson and Brian Pomorski of Avison Young represented the landlord for the Hanover Park property, while Josh Feldman of Cushman & Wakefield represented the sublandlord in the Warrenville space.
BEREA, OHIO — Tempus Realty Partners has purchased a 57,948-square-foot industrial facility located at 140 Blaze Industrial Parkway in Berea, a western suburb of Cleveland. The purchase price was $4.4 million. Tempus acquired the property from TMG Performance Products LLC.
CHICAGO — SVN Chicago Commercial has brokered the $1.8 million sale of a 4,800-square-foot restaurant condo in Chicago’s South Loop. The asset is located at 1307 S. Wabash Ave. Tim Rasmussen and Marcus Sullivan of SVN represented the undisclosed seller. David Wong of Century 21 Realty Associates represented the local buyer. The property sold for 95 percent of the asking price.
CEDAR PARK, TEXAS — Scheels, an employee-owned sporting goods retailer based in Fargo, N.D., plans to open a 240,000-square-foot store in Cedar Park, a northern suburb of Austin. The store will be the retailer’s second “All Sports” location to open in Texas, joining a store at Grandscape in The Colony that opened in 2020. Scheels plans to employ more than 500 associates at the store, most of whom will be local to Cedar Park. The Cedar Park Scheels is the second anchor tenant announced for CedarView, a mixed-use development that will also feature a 1.2 million-square-foot Nebraska Furniture Mart (NFM), a convention center and a hotel with at least 250 rooms. CedarView will be situated on a 118-acre site near the H-E-B Center. NFM is the master developer of both CedarView and Grandscape. The new Scheels store will stock more than 1 million pieces of inventory throughout 75 specialty departments and boutiques. The property will also host entertainment attractions, including a 65-foot Ferris Wheel, 16,000-gallon saltwater aquarium, a wildlife mountain and Fuzzyiwig’s Candy Shop. Other attractions at the store will include interactive arcade games, sports simulators and Ginna’s Café, a restaurant that will serve gourmet soups and sandwiches, homemade fudge …
— By Scott Romick — The Western region is going through a lot of changes when it comes to the office market. Downtown San Francisco, in particular, was a large tech hub with so much infrastructure prior to the pandemic, but it’s currently become more of a ghost town. Because hybrid and remote work is common now, many of the workers who are back to the office have moved to local submarkets that offer faster commutes, more efficiency, affordability and other key factors. Southern California, on the other hand, is a growth market. Suburban areas like the San Fernando Valley’s Sherman Oaks — which has become more active than the West Valley — continues to expand its population. This helps the office market as well as existing and new retailers. Even pockets like Encino, Studio City and Burbank have become more populous, attracting a young workforce given their proximity to local restaurants, coffee shops and parks. Unfortunately, Downtown Los Angeles is still struggling to recover as a central business district, Century City is rebounding slowly and Santa Monica is shifting in its downtown area, given the nature of office structures and their footprints. Hybrid & Regionalized Real Estate The hybrid work …