HOUSTON — International developer Skanska has topped out 1550 on the Green, a 28-story, 375,000-square-foot office building located within the Discovery Green area in downtown Houston. Designed by BIG Bjarke Ingels Group, the building will include 7,000 square feet of ground-floor retail space, and tenants will have access to a fitness center and outdoor terraces with event spaces. CBRE is marketing the office space for lease, while SHOP Cos. is leading the lease-up of the retail component. The development team expects to begin welcoming tenants to the building before the end of the year.
CHICAGO — Trammell Crow Co. and Beacon Capital Partners have broken ground on Hyde Park Labs in Chicago’s Hyde Park neighborhood. The project will feature 302,388 square feet of lab and office space as well as ground-floor retail and community space. Completion is slated for late 2024. Project costs are estimated at $225 million, according to Crain’s Chicago Business. The University of Chicago has pre-leased one-and-a-half floors of the building totaling 55,000 square feet, a portion of which will house researchers from the Pritzker School of Molecular Engineering. Space will also be used to develop an incubator program to support startup companies focused on the life sciences. Hyde Park Labs will rise 14 stories. The project marks the second phase of development at Harper Court, which currently features a hotel, office building housing many UChicago administrative offices and retail space. Tenants of Hyde Park Labs will have access to nearly 40,000 square feet of amenities, including a fifth-floor terrace dubbed “The Lawn.” The project team includes Elkus Manfredi Architects, Interactive Design Architects, Power Construction, Ujamaa and Trinal. Dan Lyne and Brandon Green of CBRE are marketing the project for lease.
GRAND PRAIRIE, TEXAS — TriStar Glass has signed a 184,283-square-foot industrial lease in the central metroplex city of Grand Prairie. The Oklahoma-based glass fabricator will occupy the entirety of the facility at 3405 Roy Orr Blvd., which previously served as a Coca-Cola bottling plant. David Eseke and Clay Balch of Cushman & Wakefield represented the tenant, which expects to be operational by the end of the summer, in the lease negotiations. An affiliate of Connecticut-based investment firm CoreOne Industrial owns the property.
CHICAGO — Lendlease has begun pre-leasing at The Reed at Southbank in Chicago’s South Loop. The 41-story residential tower includes both rental units and for-sale homes. The Reed is the second building Lendlease is developing as part of Southbank, a seven-acre master plan community situated along the Chicago River. The Reed features 224 apartment units on floors nine through 22. Floor plans range from 544 to 1,417 square feet and monthly rents start at $2,160. First move-ins are expected in late May. The eighth floor features 15,000 square feet of outdoor amenities, including a pool, cabanas, sunning lawn, fire pits, outdoor kitchens and dining areas. The Reed also features an indoor-outdoor fitness center with dedicated HIIT and yoga spaces, as well as cardio and strength-training equipment. Other eighth-floor amenities include a wet lounge adjacent to the pool deck, lounge room, virtual sports simulation room, massage room and media room. A rooftop garden created in partnership with The Roof Crop will feature fresh flowers, gardens and honey. Bozzuto manages the apartments. At the center of the Southbank master plan is Southbank Park, a two-acre publicly accessible green space that connects the neighborhood’s residents to the Chicago River. Designed by Hoeer Schaudt, …
BENSENVILLE, ILL. — Advanced Metalcraft has purchased industrial space in Bensenville for an undisclosed price. The two adjoining buildings at 110 and 210 Gateway Road total 44,600 square feet. Advanced Metalcraft, a fabricator of precision metal components and assemblies, is relocating and expanding from a 15,000-square-foot space in Franklin Park. Trinity Scurto of Brown Commercial Group represented Advanced Metalcraft, while Brian Carroll of JLL represented the seller, 110 Gateway LLC. Advanced Metalcraft plans to complete building renovations and take occupancy this quarter.
EDEN PRAIRIE, MINN. — Marcus & Millichap has brokered the $2.3 million sale of an 8,276-square-foot restaurant property occupied by Buca Di Beppo in the Minneapolis suburb of Eden Prairie. The net-leased building is located at 7711 Mitchell Road. Tom Gommels of Marcus & Millichap represented the seller, a limited liability company. Alvin Mansour and Sim Liberow of Marcus & Millichap represented the buyer, a limited liability company completing a 1031 exchange.
GRAND RAPIDS, MICH. — Copper Coin, a custom tattoo shop, has opened a 2,340-square-foot space in the West Grand neighborhood of Grand Rapids. Wesley Emert and Tina Emert of CityWide Real Estate Services assisted Copper Coin in securing the space at 436 Leonard St. NW. CityWide Real Estate Services acquired the residential and commercial building in August 2020. Additional tenants at the property include Alt City NA Bottles, Trinity Chiropractic, FURN on Leonard and Captain Bizzaro’s Treasure World.
AUSTIN, TEXAS — Los Angeles-based investment firm CIM Group has sold Hartland Plaza, a 184,128-square-foot office building in downtown Austin. The building was constructed in 1984 on a 3.4-acre site that includes a four-story parking garage. CIM Group also implemented a capital improvement program at Hartland Plaza between 2017 and 2019. Amenities include a fitness center, lounge, conference facilities, salon and an onsite restaurant. The buyer and sales price were not disclosed. JLL represented CIM Group in the transaction and arranged acquisition financing on behalf of the undisclosed buyer.
FORT WORTH, TEXAS — Evo Pak Packaging has signed a 24,129-square-foot industrial lease at 3440 Highway 114 in Fort Worth. According to LoopNet Inc., the building, which is located within Champions Circle Business Park, was built in 2022 and totals 82,240 square feet. Keaton Brice and Andrew Gilbert of Holt Lunsford Commercial represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
SCOTTSDALE, ARIZ. — Phoenix-based Creation has acquired 18 acres within Scottsdale Airpark for the development of Thunderbird Commerce Park, a $60 million industrial center. Located at the southeast corner of Scottsdale and Thunderbird roads, the project will feature a 243,360-square-foot Class A industrial building offering 51 truck doors, 32-foot clear heights, 3,000-amp power, four electric vehicle dual charging pedestals, 130-foot truck court depth and 322 car parking spaces. Construction is slated to begin later this year. Creation sourced the land on an off-market basis and is currently processing entitlements through the City of Scottsdale. The project team includes LGE Design Build as general contractor and LGE Design Group as architect. Completion is scheduled for late 2024.