WOOLWICH TOWNSHIP, N.J. — Colliers has brokered the sale of a 106,528-square-foot industrial property in Woolwich Township, located in the southern part of the Garden State. Regional investment firm Faropoint sold the asset to an affiliate of DH Property Holdings for an undisclosed price. Marc Isdaner and Ian Richman of Colliers brokered the deal. At the time of sale, the property was fully leased to Diversified Industries, a provider of foam and adhesive products.
DANBURY, CONN. — New York-based brokerage firm Jacobson Properties has negotiated the $15.2 million sale of Western Connecticut Medical Center South, a 39,566-square-foot healthcare property located in Fairfield County. An affiliate of Connecticut Eye Consultants leases the entire medical office building. An entity doing business as Western Connecticut Medical Center South LLP sold the asset to an undisclosed institutional investment firm. Lisa Menin of Jacobson Properties brokered the deal.
REDLANDS, CALIF. — North Palisade Partners has acquired a nearly 17-acre site at 1101 California St. in Redlands for $44.5 million. The site previously housed a waterpark that closed in 2018. North Palisade plans to transform the space into a modern, Class A warehouse distribution facility. Hunter Warner of Lee & Associates represented the buyer and unnamed seller in the transaction.
SURPRISE, ARIZ. — Gantry has arranged a $53.4 million permanent loan for the refinancing of the The Village at Prasada, a 700,000-square-foot, multi-phase retail center project in the Phoenix suburb of Surprise. The 7.5-year, fixed-rate loan will retire the construction debt for the first phase of the development, which comprises 308,640 square feet. Phase One was fully leased at the time of financing to tenants including Sprouts Farmers Market, Ross Dress for Less, HomeGoods, Marshalls, Ulta Beauty, Total Wine & More, PetSmart, T.J. Maxx and Floor & Décor. Tim Storey, Chad Metzger and Ryan Gross of Gantry secured the loan through an institutional global financial services firm on behalf of the undisclosed borrower.
SEATTLE — Senior Living Investment Brokerage (SLIB), a Chicago-based firm, has arranged the sale of three communities in the Pacific Northwest. The facilities offer a combined 93 units and 105 beds, and were built between 1991 and 1995. The buyer is a private owner-operator group out of Texas. The seller, price, names and locations were not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito and Matt Alley of SLIB handled the transaction.
SAN JUAN CAPISTRANO, CALIF. — TailoredSpace is scheduled to open its newest location in San Juan Capistrano this September. The 14,000-square-foot space will be located at 27131 Calle Arroyo. TailoredSpace has targeted suburban communities with high per-capita income, easy freeway access and walkable retail amenities. TailoredSpace will be the first fully amenitized coworking operation in San Juan Capistrano, according to the company. This lack of supply has resulted in significant pre-leasing activity for the campus.
SOUTH SAN FRANCISCO — IDEAYA Biosciences has leased 44,000 square feet of space at 5000 Shoreline Court in South San Francisco. The 140,000-square-foot, Class A building is situated on the bay in South San Francisco’s Sierra Point life sciences cluster. IDEAYA plans to move into the space in mid-2024. Chris Jacobs and Matt Jacobs of CBRE represented the landlord, DivcoWest, while Grant Dettmer and Scott Miller of JLL represented IDEAYA.
CHICAGO — Lendlease has opened The Reed at Southbank, a 41-story residential tower located at 234 W. Polk St. in Chicago’s South Loop. The Reed includes both rental units and for-sale homes and is part of Lendlease’s seven-acre Southbank master plan. Of the property’s 440 residences, 224 are apartments and are located on floors nine through 22. Units range from 544 to 1,417 square feet and monthly rents start at $2,205. Inspired by the literary history of Printers Row, the development’s name is a nod to both reed pens and the grasses that grow along waterways like the Chicago River. Perkins & Will designed the property. The Reed is situated near Southbank Park, a two-acre green space developed and maintained by Lendlease as an amenity for both residents and neighbors in the surrounding community. The eighth floor features a 15,000-square-foot amenity deck with a pool, lawn, fire pits, outdoor kitchens and fitness area. Indoor amenities include a fitness center, lounge room, pool table, virtual sports room, massage room and salon. Apartments at The Reed will be managed by Bozzuto, which will provide renters with services like plant care, pet care, newspaper delivery and in-home package delivery. The Reed is the …
CHICAGO — General contractor Bulley & Andrews has completed a renovation of The Belden-Stratford, a luxury apartment building in Chicago’s Lincoln Park neighborhood. Overlooking the Lincoln Park Zoo and Conservatory, the 16-story property was originally constructed in 1923 and is listed on the National Register of Historic Places. Designed by architect Meyer Fridstein, the building originally opened as a residential hotel before being converted to apartments. Mansueto Office, the investment firm of Joe Mansueto, who was a resident of the property during the 1980s, purchased the asset in 2018. Renovation work began in late 2020. Today, the property comprises 209 luxury apartment units, including studios, one-, two- and three-bedroom floor plans as well as a selection of penthouses. Monthly rents range from $2,500 to $15,000. Leasing and move-ins are underway. Solomon Cordwell Buenz served as the architect for the renovation project, along with historic architect Vinci Hamp Architects. Waterton manages the property. The team restored many of the original architectural details of the property and added new amenities, including a mezzanine-level lounge, fitness center, billiards and media lounge, wine tasting room, conference rooms, meeting space and a rooftop deck. Residents also have access to services such as valet parking, concierge …
BLOOMINGTON, IND. — Bellwether Enterprise (BWE) has arranged a $36 million loan for the acquisition of The Monroe, a 796-bed student housing property at Indiana University in Bloomington. Christopher Carroll and Max Miller of BWE arranged the loan on behalf of the borrower, Campus Realty Advisors, which plans to make upgrades to the community. According to BWE, Indiana University had record freshmen enrollment in 2022 with more than 10,200 students.