Property Type

Chick-fil-A to Open 4,995 SF Restaurant at Northwoods Shopping Center in North San Antonio

by Taylor Williams March 27, 2023

SAN ANTONIO — Chick-fil-A has signed a lease to open a 4,995-square-foot restaurant at Northwoods Shopping Center in San Antonio. The Atlanta-based fast-food chain will occupy a 1.5-acre pad site at the center, which is located at the intersection of U.S. Highway 281 and Loop 1604 on the city’s north side. Other retailers at Northwoods Shopping Center, which is owned by Los Angeles-based CIM Group, include grocer H-E-B, Barnes & Noble, Marshall’s, Ulta Beauty and Old Navy. An opening date was not disclosed.

March 27, 2023

Development Midwest Missouri Multifamily

Cordish Tops Out $140M Three Light Luxury Apartments in Kansas City’s Power & Light District

by Kristin Harlow March 27, 2023

KANSAS CITY, MO. — The Cordish Cos. has topped out Three Light Luxury Apartments in Kansas City’s Power & Light District. JE Dunn Construction Co. is the general contractor. Located at the corner of Truman Road and Main Street, Three Light rises 25 stories and sits directly on the KC Streetcar Line. The $140 million project will include a seven-story parking garage with 472 spaces as well as 7,600 square feet of ground-floor retail space. Three Light will feature more than 30,000 square feet of amenity space, including an eighth-floor outdoor terrace with an infinity-edge pool, clubroom, party room, entertainment kitchen, theater room, game room, business center, fitness center, coworking spaces, dog washing station, concierge services and laundry services. Three Light is slated for completion this fall. Nearly 20 percent of the units have been leased so far. Three Light follows previous multifamily projects, One Light and Two Light.

March 27, 2023

Affordable Housing Development Healthcare Indiana Midwest Multifamily

Venture Unveils $65M Master Redevelopment Plan for Meridian Street in Indianapolis

by Kristin Harlow March 27, 2023

INDIANAPOLIS — Local healthcare provider Adult & Child Health, Colliers, healthcare real estate company Innovcare and national development firm TWG have unveiled a master plan for the redevelopment of Meridian Street in Indianapolis. Project costs are estimated at $65 million. Plans call for the redevelopment of six buildings along the North Meridian Corridor. The development team plans to convert the properties into new uses such as primary care services, mental health services and affordable housing. All of the buildings are located within a federal Opportunity Zone and near the IndyGo Red Line. The project is made possible through support from the City of Indianapolis. Innovcare will pay real estate property taxes to further the redevelopment and investment of the Meridian corridor. Adult & Child Health signed a long-term lease to relocate to 1840 N. Meridian St. upon completion of the redevelopment project. The 40,000-square-foot building and parking area, previously owned by Indianapolis Public Schools, has sat vacant for seven years. Colliers assisted Adult & Child Health in its new lease as well as the sale of two existing assets at 603 E. Washington St. and 222 E. Ohio St. Indianapolis-based TWG has acquired four vacant buildings and plans to redevelop …

March 27, 2023

Illinois Leasing Activity Life Sciences Midwest

Chan Zuckerberg Biohub Chicago Signs 25,698 SF Lease at Fulton Labs

by Kristin Harlow March 27, 2023

CHICAGO — Chan Zuckerberg Biohub Chicago (CZ Biohub Chicago), a new biomedical research institute that brings together scientists from Northwestern University, the University of Chicago and the University of Illinois Urbana-Champaign, has signed a 25,698-square-foot lease at Fulton Labs. Trammell Crow Co. (TCC) owns the two-building, 725,000-square-foot campus, which is situated in Chicago’s Fulton Market district. CZ Biohub Chicago researchers will engineer technologies to make precise, molecular-level measurements of biological processes within human tissues, with an ultimate goal of understanding and treating the inflammatory states that underlie many diseases. Dan Lyne of CBRE represented TCC in the lease. Other tenants at Fulton Labs include Dimension Inx, Celadyne Technologies, Portal Innovations, Charles River Laboratories, Xeris Pharmaceuticals, Vanqua Bio and Talis Biomedical. Facebook’s Mark Zuckerberg and his wife, Priscilla Chan, are the co-founders and co-CEOs of the Chan Zuckerberg Initiative.

March 27, 2023

Loans Multifamily New Jersey Northeast

NewPoint Provides $153.6M Agency Loan for Refinancing of Jersey City Apartment Tower

by Taylor Williams March 27, 2023

JERSEY CITY, N.J. — NewPoint Real Estate Capital has provided a $153.6 million Freddie Mac loan for the refinancing of The One, a 35-story apartment tower located in Jersey City’s waterfront district. Built in 2015, The One features 451 units in studio, one-, two- and three-bedroom formats, with 10 percent of the units reserved as affordable housing. Residences are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a pool, fitness center, children’s playroom, theater room, golf simulator, game room and a dog park. Carol Shelby and Eric Schleif of Meridian Capital Group placed the loan, which carried a seven-year term and a 35-year amortization schedule, with NewPoint on behalf of the borrower and developer, BLDG Management. The One was 98 percent occupied at the time of the loan closing.

March 27, 2023

Acquisitions Industrial Iowa Midwest Self-Storage

Area Commercial Real Estate Services Brokers Sale of 68,000 SF Self-Storage Facility in Des Moines

by Kristin Harlow March 27, 2023

DES MOINES, IOWA — Area Commercial Real Estate Advisors has brokered the sale of a CubeSmart Self Storage facility in Des Moines for an undisclosed price. The property was formerly a Gordmans department store that was converted into self-storage space in November 2021. The facility features roughly 68,000 rentable square feet of climate-controlled space. Tom Flannigan, Alex Ihrke and Matt Haugen of Area brokered the sale and serve as the Minnesota, Iowa and North and South Dakota broker affiliates for Argus Self Storage Advisors. U-Haul was the buyer.

March 27, 2023

Leasing Activity Midwest Minnesota Office

Law Firm Husch Blackwell Inks 9,300 SF Office Lease in Minneapolis

by Kristin Harlow March 27, 2023

MINNEAPOLIS — Husch Blackwell has signed a 9,300-square-foot office lease at IDS Center in downtown Minneapolis. The office marks the law firm’s first Twin Cities location. Adam Barrett and Sven Sykes of Colliers represented the tenant. Accesso owns the property, which totals 1.4 million square feet and rises 57 stories.

March 27, 2023

Acquisitions Massachusetts Northeast Retail Rhode Island

Atlantic Capital Partners Negotiates $70M Sale of Retail Portfolio in Massachusetts, Rhode Island

by Taylor Williams March 27, 2023

BOSTON — Atlantic Capital Partners, a division of Boston-based Atlantic Realty, has negotiated the $70 million sale of a portfolio of four grocery-anchored retail assets in Massachusetts and Rhode Island. The properties, all of which are master-leased to regional operator Stop & Shop, total 272,542 square feet and are located in the Massachusetts communities of Framingham, Malden and Swampscott, with the fourth in Bristol, R.I. Justin Smith, Chris Peterson and Sam Koonce of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

March 27, 2023

Development Multifamily New Jersey Northeast

Hornrock Properties Begins Leasing 221-Unit Apartment Complex in Hackensack, New Jersey

by Taylor Williams March 27, 2023

HACKENSACK, N.J. — Locally based developer Hornrock Properties has begun leasing Ivy & Green, a 221-unit apartment complex in the Northern New Jersey community of Hackensack. Designed by Minno & Wasko Architects, the six-story building houses studio, one- and two-bedroom units. Amenities include coworking spaces, private conference rooms, a gaming lounge, speakeasy bar, demonstration kitchen, theater and music studio, a children’s playroom, fitness center, pet spa and package lockers. Monthly rents start in the $2300s. A second phase of Ivy & Green totaling 168 units is also in the development pipeline.

March 27, 2023

Acquisitions Hawaii Retail Western

Watumull Properties Purchases Niumalu Marketplace in Kailua, Hawaii for $66M

by Jeff Shaw March 27, 2023

KAILUA, HAWAII — Watumull Properties Corp. has purchased Niumalu Marketplace, a 205,000-square-foot retail center located in Kailua on O’ahu, for $66 million. Safeway anchors the property, which is situated on 20 acres. Wendell Brooks and Kimo Greenwell of JLL will handle leasing at the center, and Big Island Colliers’ Hawaii office will provide property management services.

March 27, 2023

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