Property Type

Flaherty & Collins Breaks Ground on $65M Luxury Apartment Complex in East Peoria, Illinois

by Kristin Harlow October 5, 2023

EAST PEORIA, ILL. — Flaherty & Collins Properties has broken ground on Blutowne, a $65 million luxury apartment community in the Levee District of East Peoria, a city in central Illinois. The project includes two multifamily buildings that will be centrally located near the municipal building and public library. Plans call for 219 units, 10,000 square feet of commercial space and 276 parking spaces. Merchants Bank of Indiana provided financing for the project, which will be situated at 501 E. Washington St. Units will come in studio, one- and two-bedroom floor plans, with the average unit size being 898 square feet. Amenities will include a fitness facility, meeting space, saltwater pool and rooftop lounge. Flaherty & Collins expects to welcome the first residential and commercial tenants in spring 2025. The full build-out is slated for completion in fall 2025.

October 5, 2023

Acquisitions Healthcare Illinois Midwest

JLL Arranges $59.9M Sale of Loyola University Outpatient Center in Burr Ridge, Illinois

by Kristin Harlow October 5, 2023

BURR RIDGE, ILL. — JLL Capital Markets has arranged the $59.9 million sale of Loyola Medicine Burr Ridge, an outpatient medical center totaling 104,912 square feet in the Chicago suburb of Burr Ridge. Built in 2010, the three-story property is fully leased to Loyola University Medical Center. The Chicago academic medical center is an affiliate of the national health system, Trinity Health. Loyola Burr Ridge is Loyola’s largest ambulatory care location and offers orthopedics, cancer care, neurology, cardiology and dermatology services. Mindy Berman, Sam DiFrancesca, Pat Shields and Matt Sykes of JLL represented the seller, Healthcare Realty Trust, and procured the buyer, Sila Realty Trust.

October 5, 2023

Acquisitions Build-to-Rent Indiana Midwest Single-Family Rental

Cushman & Wakefield Negotiates $21.5M Sale of Avalon Bluffs Build-to-Rent Community in Lafayette, Indiana

by Kristin Harlow October 5, 2023

LAFAYETTE, IND. — Cushman & Wakefield has negotiated the $21.5 million sale of Avalon Bluffs, a single-family build-to-rent community in Lafayette, about 63 miles northwest of Indianapolis. Hannah Ott, George Tikijian, Cameron Benz and Claire Bullard of Cushman & Wakefield represented the seller, Lafayette-based Tempest Homes. Hunter Properties was the buyer. Tempest Homes completed 93 units averaging 1,494 square feet each at Avalon Bluffs.

October 5, 2023

Acquisitions Industrial Midwest Minnesota

Arden Logistics Parks Acquires Three-Building Light Industrial Portfolio in Metro Minneapolis

by Kristin Harlow October 5, 2023

EDEN PRAIRIE AND EAGAN, MINN. — Arden Logistics Parks (ALP) has acquired a three-building light industrial portfolio totaling 361,428 square feet in metro Minneapolis for an undisclosed price. The portfolio consists of the Flying Cloud Business Centre in Eden Prairie and Oakview Business Centre I and II in Eagan. The transaction marks the first acquisition in the Minneapolis market for ALP. The Flying Cloud Business Centre totals 204,000 square feet and is fully leased to four tenants. Oakview Business Centre I and II total 157,428 square feet and are 96 percent leased to 10 tenants. The seller was not released.

October 5, 2023

Acquisitions Michigan Midwest Retail

KJ Commercial Brokers $10.8M Sale of Goddard Square Shopping Center in Taylor, Michigan

by Kristin Harlow October 5, 2023

TAYLOR, MICH. — KJ Commercial has brokered the $10.8 million sale of the Goddard Square shopping center in Taylor, just east of the Detroit Metropolitan Wayne County Airport. The property comprises a 77,340-square-foot shopping center, a 6,624-square-foot retail outlot building and an adjoining five-acre land parcel. Some of the tenants include Planet Fitness, Dunham’s Sports, Cattleman’s Grocery and Del Taco. Kevin Jappaya, David Jappaya and Preston Rabban of KJ Commercial represented the buyer in the transaction, which closed in 75 days. Buyer and seller information was not provided.

October 5, 2023

Acquisitions Industrial South Carolina Southeast

Rockefeller Group Sells 1.1 MSF Stateline 77 Industrial Park in Fort Mill, South Carolina

by John Nelson October 5, 2023

FORT MILL, S.C. — The Rockefeller Group has sold Stateline 77, a 1.1 million-square-foot, two-building industrial park located along I-77 in Fort Mill, a South Carolina suburb of Charlotte. EQT Exeter purchased the 77.5-acre asset from Rockefeller Group for an undisclosed price. Pete Pittroff, Dave Andrews, Josh McCardle, Michael Scarnato and Britton Burdette of JLL represented Rockefeller Group in the sale. Last month, solar panel manufacturer Silfab Solar announced plans to invest $150 million to upfit and operate out of the larger of Stateline 77’s two buildings, a 786,167-square-foot cross-dock facility located at 7149 Logistics Lane. The property’s second building, a 221,000-square-foot distribution center at 7107 Logistics Lane, was fully leased in 2022 by two tenants, Element Designs and Motion Industries Inc.

October 5, 2023

Development Florida Multifamily Southeast

Alliance Residential to Develop 311-Unit Prose Big Sky Apartments in Kissimmee, Florida

by John Nelson October 5, 2023

KISSIMMEE, FLA. — Alliance Residential Co. has purchased a 17-acre site at 2900 Big Sky Blvd. in Kissimmee for the development of Prose Big Sky, a 311-unit apartment community. The Arizona-based developer plans to welcome first residents by fall 2024. Prose Big Sky will feature one- and two-bedroom units ranging from 746 to 1,078 square feet in size. Community amenities will include a resident clubroom with a catering kitchen and entertainment lounge, business center with coworking spaces, concierge package system, a resort-style pool with sun shelf seating, fitness center and a dog park. Prose Big Sky is the newest of 10 Alliance Residential properties currently under construction or scheduled to break ground in Florida.

October 5, 2023

Acquisitions Florida Industrial Southeast

Arden Logistics Parks Acquires 195,532 SF Industrial Portfolio in West Palm Beach

by John Nelson October 5, 2023

WEST PALM BEACH, FLA. — Arden Logistics Parks (ALP), a subsidiary of Arden Group, has purchased a three-building, 195,532-square-foot portfolio of shallow-bay industrial assets in West Palm Beach. The portfolio was more than 98 percent leased to more than 40 tenants at the time of sale. The acquisition marks ALP’s entry into the West Palm Beach market. The seller and sales price were not disclosed.

October 5, 2023

Development Mixed-Use North Carolina Restaurant Retail Southeast

Northwood Investors Signs Two Restaurant Tenants to Join Bowl at Ballantyne Project in Charlotte

by John Nelson October 5, 2023

CHARLOTTE, N.C. — Northwood Investors, along with affiliate firm Northwood Retail, has signed two new restaurant brands from Fox Restaurant Concepts to join the tenant roster at Bowl at Ballantyne, a mixed-use development on the south side of Charlotte. The concepts include North Italia, an Italian restaurant that will occupy 6,480 square feet, and Flower Child, a healthy restaurant chain that will occupy 3,555 square feet. The restaurants will be situated across Bowl Street from each other and will open in 2024. Other committed tenants include Olde Mecklenburg Brewery, Fly Kid Fly, Honeysuckle Gelato, Roosters, drybar and solidcore, among others. Situated within the 2,000-acre Ballantyne master-planned community, the Bowl will also include two residential towers and a concert venue called The Amp Ballantyne.

October 5, 2023

Development Georgia Net Lease Restaurant Retail Southeast

Halpern Enterprises Delivers Build-to-Suit Starbucks Restaurant in Byron, Georgia

by John Nelson October 5, 2023

BYRON, GA. — Halpern Enterprises Inc. has delivered a 2,600-square-foot build-to-suit Starbucks location at 321 N. Highway 49 N in Byron. The Seattle-based coffeehouse chain signed a 10-year net lease at the freestanding property, which is located near I-75 and Robins Air Force Base. Brad Oppenheimer, Caleb Adams and Cary Halpern of Halpern Enterprises teamed up to complete the project. In addition to Starbucks, the Atlanta-based developer has recently delivered three build-to-suit properties in the Southeast for The Learning Experience.

October 5, 2023

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