Property Type

Mortenson Breaks Ground on 65,000 SF Denver Headquarters

by Jeff Shaw June 19, 2023

DENVER — Mortenson has broken ground on its four-story, 65,000-square-foot headquarters in Denver’s River North Art District. The new space will be located at 3083 Walnut St. The builder, developer and engineering services provider will be actively involved in the building’s development, design, fabrication and construction. The company will own and occupy the headquarters, with about 37,000 square feet dedicated to its own operations on the second and third floors. The ground and top levels will be available for leasing as retail and office spaces, respectively.

June 19, 2023

Colorado Leasing Activity Life Sciences Western

CBRE Negotiates Full-Building Lease for Life Sciences Company in Boulder, Colorado

by Jeff Shaw June 19, 2023

BOULDER, COLO. — CordenPharma has secured a lease for a recently renovated life sciences property in Boulder. The property is located at 2300 55th St. Acquired by TriTower Financial Group in 2021, the building has undergone extensive renovations to cater to the advanced technology needs of life sciences companies. The pharmaceutical contract development and manufacturing organization will occupy 61,117 square feet across both floors of the facility. The company plans to utilize the space for client meetings, engineering, and research and development operations, further expanding its operations in the area. CordenPharma has existing nearby facilities on 55th Street and Sterling Drive. Blake Harris with CBRE represented TriTower in the lease transaction.

June 19, 2023

Development Retail Washington Western

T&T Supermarkets to Open 76,000 SF Store in Bellevue, Washington

by Jeff Shaw June 19, 2023

BELLEVUE, WASH. — T&T Supermarkets has announced plans to open a 76,000-square-foot store in Bellevue, roughly 10 miles east of Seattle. Scheduled to open next summer at Marketplace at Factoria, the store will mark the first U.S. location for the brand. John Booth of Kidder Mathews represented T&T in the leasing negotiations.

June 19, 2023

Colorado Industrial Leasing Activity Western

Tepuy Lands Tenant for Renovated Industrial Building in Broomfield, Colorado

by Jeff Shaw June 19, 2023

BROOMFIELD, COLO. — Atomos Nuclear and Space Corp. has become the first tenant in Tepuy Properties’ 63,412-square-foot warehouse in Broomfield. The recently renovated building is located at 2360 Industrial Lane. Atomos specializes in space logistics with its development and operation of orbital transfer vehicles (OTVs) for missions in outer space. Its first mission is scheduled for launch in January 2024. The building underwent a $5 million renovation that divided it into six separate suites with common amenities. Atomos Space has leased two of the four storefronts, occupying 19,288 square feet, or about 30 percent of the building. The renovation included improvements to the roof, HVAC and electrical systems, loading dock, restrooms and overall aesthetics of the building’s exterior. Tepuy Properties plans to expand the Broomfield property by constructing a second building on the additional 2.5 acres of land. Once fully developed, the property is expected to offer about 100,000 square feet of rental space, making it the largest property in Tepuy’s portfolio.

June 19, 2023

Affordable Housing Development Illinois Midwest Multifamily

Habitat Co., P3 Markets Open Phase I of 43 Green Mixed-Income Apartment Project in Chicago

by Kristin Harlow June 19, 2023

CHICAGO — The Habitat Co. and P3 Markets have opened Phase I of 43 Green in Chicago’s Bronzeville neighborhood. The 99-unit, mixed-income apartment building is located at 4308 S. Calumet Ave. The project marks the first equitable transit-oriented development (ETOD) on Chicago’s South Side, according to the developers. Since 2013, the City of Chicago has been encouraging transit-oriented development near Chicago Transit Authority and Metra rail stations. In 2020, the city published its ETOD Policy Plan, which aims to drive investment near transit in disinvested communities, preventing displacement in communities facing rising housing costs and promoting affordable housing options near transit in low-affordability communities. Phase I is the largest of three planned buildings within the $100 million 43 Green development. The 10-story building features 5,500 square feet of retail space and amenities such as a fitness center, rooftop terrace, business center, picnic area, community room, laundry facilities and bicycle storage. Half of the units are reserved for households earning up to 60 percent of the area median income, with the remainder leased at market rate. Habitat has also secured construction financing for Phase II, and is expected to break ground on that 80-unit building by the end of June. Completion …

June 19, 2023

Illinois Industrial Leasing Activity Midwest

Worldwide Flight Services Leases 132,000 SF Cargo Facility at Chicago Airport

by Kristin Harlow June 19, 2023

CHICAGO — Worldwide Flight Services (WFS) has leased a new 132,000-square-foot cargo facility that is part of the third phase of the Northeast Cargo Complex at Chicago’s O’Hare International Airport. Realterm developed and owns the facility, which features 122,000 square feet of warehouse space and 10,000 square feet of office space. There is also more than 200,000 square feet of ramp space that can accommodate two group VI aircraft such as the Boeing 747. The project team included BOWA, Clayco and d’Escoto Inc. Realterm is targeting LEED Silver certification for the property, which is equipped with electric vehicle charging stations and solar panels. WFS is a provider of air cargo logistics and ground handling services.

June 19, 2023

Affordable Housing Development Indiana Midwest Multifamily

TWG to Build $9M Affordable Housing Community in West Baden Springs, Indiana

by Kristin Harlow June 19, 2023

WEST BADEN SPRINGS, IND. — TWG is building West Baden Lofts, a $9 million affordable housing community in West Baden Springs, a town within French Lick Township in southern Indiana. Located at 942 Main St., the 44-unit development will feature two- and three-bedroom layouts. Units will be reserved for households making 30 to 60 percent of the area median income. Amenities will include a free bikeshare program, free Wi-Fi in common areas and units, a meditation area, fitness center, community room, indoor children’s area, playground and community garden beds. Project funding comes from the Indiana Housing and Community Development Authority, Innovative Veteran Affairs Real Estate, Merchants Capital, Cedar Rapids Bank & Trust and the Town of West Baden Springs. Construction is expected to begin this month and be completed in late 2024.

June 19, 2023

Acquisitions Michigan Midwest Multifamily

Friedman Arranges $4M Sale of Multifamily Property in Marshall, Michigan

by Kristin Harlow June 19, 2023

MARSHALL, MICH. — Friedman Real Estate has arranged the $4 million sale of Village Green in Marshall, about 13 miles southeast of Battle Creek. The 54-unit multifamily property is located at 200 W. Drive North. The community was built in 1976, according to Apartments.com. Peter Jankowski of Friedman represented the buyer.

June 19, 2023

Acquisitions Illinois Industrial Midwest

Brown Commercial Group Brokers Sale of 21,400 SF Industrial Building in Suburban Chicago

by Kristin Harlow June 19, 2023

ELK GROVE VILLAGE, ILL. — Brown Commercial Group has brokered the sale of a 21,400-square-foot industrial building in the Chicago suburb of Elk Grove Village. The sales price was undisclosed. Located at 605 Bonnie Lane, the vacant property features 2,000 square feet of office space, two dock-high doors, one drive-in door and parking for 25 vehicles. Trinity Scurto of Brown represented the seller, OTO Investment Properties LLC. The buyer, Clear Height Properties, plans to renovate the building and secure new tenants.

June 19, 2023

Development Massachusetts Mixed-Use Northeast Top Stories

Tishman Speyer Receives $750M in Construction Financing for Mixed-Use Project in Boston

by Taylor Williams June 19, 2023

BOSTON — New York City-based real estate giant Tishman Speyer has received $750 million in construction financing for Phase I of Harvard Enterprise Research Campus, a 900,000-square-foot mixed-use project that will be located in the Allston neighborhood of Boston. Phase I of the development will consist of two life sciences buildings totaling 440,000 square feet, a 343-unit apartment complex and a hotel, all of which will be developed on a nine-acre parcel. Tishman Speyer is developing the project in partnership with the Harvard Allston Land Co. The site is adjacent to the Harvard Business School and Harvard Science & Engineering Complex in Allston. Breakthrough Properties, a joint venture of Tishman Speyer and Bellco Capital, will oversee the development, operations and leasing of the life sciences component. Tishman Speyer will also develop a conference facility on behalf of Harvard University. Within the multifamily component, 25 percent of the units will be designated as affordable housing for households earning between 30 and 100 percent of the area median income. At full build-out, Enterprise Research Campus will also include retail and restaurant space, as well as two acres of open green space that will host farmers markets, live music and outdoor fitness classes. …

June 19, 2023

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