ENFIELD, CONN. — Regional developer WinStanley Enterprises has acquired a 135-acre industrial development site in Enfield, located near the Connecticut-Massachusetts border. The site is fully approved for the development of a two-building, 600,000-square-foot complex that will be known as Metro Park North. Specifically, the development will feature a 500,225-square-foot distribution facility and a 100,125-square-foot flex building. WinStanley expects to start construction in early to mid-2024, contingent upon securing tenant interest. Phil Gagnon and Nick Morizio of Colliers represented the seller and buyer in the land deal. Colliers will also handle leasing of the development.
YONKERS, N.Y. — New York City-based Simone Development Cos. has purchased One Executive Boulevard, a 133,768-square-foot office building located north of Manhattan in Yonkers, with plans to convert the building into a healthcare facility. The four-story building sits on a 6.7-acre site that is located within a quarter mile of nearly 900,000 square feet of existing medical real estate. Robert Martin Co. sold the property for an undisclosed price.
UNION, MO. — Colliers Mortgage has provided an $11 million Fannie Mae loan for the refinancing of Hummingbird Heights, a 108-unit multifamily property in Union, about 50 miles southwest of St. Louis. The garden-style community is comprised of 21 buildings. Adrian Hartman of Colliers originated the loan on behalf of the borrower, an entity doing business as Hummingbird Heights LLC. According to Colliers, the refinancing enabled ownership to recoup a portion of equity deployed during development, reposition conventional debt to nonrecourse freeing up future development borrowing capabilities, and boost cash flow due to the longer amortization and interest-only period.
SIDNEY, OHIO — NK Parts has acquired the former Norcold headquarters facility at 600 Kuther Road in Sidney, about 40 miles north of Dayton. The purchase price was $6.5 million. Sidney-based NK Parts currently occupies a 785,000-square-foot facility at 777 Kuther Road. Specializing in logistics and supply chain management, NK caters specifically to the automotive industry. The additional 205,000 square feet from the Norcold building will alleviate some of NK’s space constraints and enable them to better serve their clients, according to Industrial Property Brokers, which brokered the deal. NK plans to make improvements to the electrical system and parts of the roof that require replacement. The tenant expects to take occupancy in November. Tim Echemann and Conrad Echemann of Industrial Property Brokers represented NK in the transaction. “The opportunity for NK to acquire a 205,000-square-foot building right across the street from its existing operations is nothing short of incredible,” says Tim Echemann. “This expansion couldn’t have come at a better time, especially considering the escalating demands from NK’s customers for more space.”
LAKE ZURICH, ILL. — PREMIER Design + Build Group has completed an 88,000-square-foot headquarters facility for Alpha Tekniko in Lake Zurich, a northwest suburb of Chicago. Alpha Tekniko is a contract manufacturer serving the healthcare industry. The firm designs, develops and produces sophisticated support surfaces, including high-tech mattresses, cushions and pads to fit an array of medical equipment like hospital beds, operating room tables and wheelchairs. The company launched in 2008 and continued to outgrow its spaces. In March 2022, the founders purchased land at 1400 Rose Road in Lake Zurich and selected PREMIER to manage design and build services for a permanent home. Construction began in October 2022. The new facility is primarily designed for manufacturing operations with some additional space devoted to offices. The building features eight dock positions and two drive-in doors. The new headquarters is fully solar powered with 444 solar panels. Additional sustainable features include high-efficiency rooftop HVAC units, high R-value precast concrete panels that increase insulating effectiveness, special emissions towers for air purification, motion-sensitive lighting and VOC-free paints. Project partners included Cornerstone Architects Ltd. and civil engineer SpaceCo.
CHICAGO — Gibsons Restaurant Group (GRG) has signed a 15,000-square-foot, ground-floor retail lease at 919 W. Fulton St. in Chicago’s Fulton Market. Fulton Street Cos. is currently developing the 400,000-square-foot, 11-story office building. The lease marks the 13th location for GRG in the Chicago area. The tenant has yet to decide on the new restaurant concept. GRG operates Gibsons Bar & Steakhouse, Gibsons Italia, Hugo’s Frog Bar & Fish House, LUXBAR and Quartino Ristorante & Wine Bar. Alex Najem and Ross Babel negotiated the lease on behalf of Fulton Street on an internal basis. The property is slated for completion in the first quarter of 2025.
CHICAGO — Marcus & Millichap has brokered the sale of a 2,700-square-foot retail property net leased to 7-Eleven in Chicago for $3.5 million. The retailer occupies space at 191 W. Adams St. on the ground floor of the JW Marriott hotel, which recently underwent a major restoration. Nicholas Kanich of Marcus & Millichap represented the seller, a Chicago-based private investor, and the buyer, an investment group based in California.
WASHINGTON, D.C. — The RMR Group has completed the redevelopment of 20 Mass, a mixed-use building located at 20 Massachusetts Ave. in Washington, D.C. Office Properties Income Trust, an affiliate REIT of RMR Group, owns 20 Mass. The former government office building now houses the 274-room Royal Sonesta Washington, D.C. Capitol Hill hotel, which includes the new 200-seat French restaurant Bistro Du Jour; 183,000 square feet of upper-level office space; a 14,500-square-foot penthouse amenity space; and 13,800 square feet of retail space. The LEED Gold-certified property also features a new glass curtain wall façade and a 10-story atrium. The design-build team includes general contractor DPR Construction and architect Leo A. Daly. CBRE is the exclusive office leasing broker at 20 Mass, and JLL is responsible for retail leasing.
ATLANTA — A joint venture between StreetLights Residential and PGIM Real Estate has welcomed first move-ins at The Hadley, a 300-unit luxury apartment community located at 5th and Juniper streets in Midtown Atlanta. The ownership plans to fully complete the property this fall. Situated near Tech Square and two MARTA stations, The Hadley offers studio, one-, two- and three-bedroom floor plans ranging in size from 511 to 1,713 square feet. Monthly rental rates range from $1,871 to $6,106, according to Apartments.com. Interiors include Latch Smart Home keyless entry, built-in Sonos speakers and Nest thermostats. Amenities include a private bar and lounge on the eighth floor, pool, coworking space, ground-level bar, fitness center, pet spa, covered dog park, coffee bar and a gated parking garage. StreetLights Creative Studio served as the architect and interior designer for The Hadley.
TruAmerica Multifamily Plans $86M Build-to-Rent Residential Project Near Spartanburg, South Carolina
INMAN, S.C. — TruAmerica Multifamily has purchased a 33-acre site in the Spartanburg suburb of Inman for the development of Hartley View, an $86 million build-to-rent (BTR) residential community. The project will include 281 rental homes, including a mix of 214 townhomes, as well as 67 detached single-family residences. Layouts will range from 1,260 square feet to 2,200 square feet. Amenities will include a pool, dog parks, playgrounds, community parks and four acres of open wooded and recreation spaces. Hartley View represents TruAmerica’s first BTR community. The developer plans to begin horizontal construction at the site in summer 2024 and begin vertical construction in December 2024. Delivery of the first homes is scheduled for summer 2025. Brad Morris of New Deco Inc. represented the seller, Converse Development, in the land sale.