Property Type

New Tenants Sign Leases Totaling 32,101 SF at Industrial Property in Schaumburg, Illinois

by Kristin Harlow August 3, 2022

SCHAUMBURG, ILL. — SparrowHawk has negotiated new leases with tenants totaling 32,101 square feet at its industrial property located along National Parkway in Schaumburg. The 147,752-square-foot property is now 95.5 percent leased with one remaining space available for immediate occupancy. Italy-based TECH.PA signed a lease for 9,094 square feet for its first industrial showroom and warehouse space in Chicago and the U.S. The company, which specializes in the field of industrial automation and robotics, will take occupancy this month. Kelly Joyce of Colliers represented SparrowHawk in the lease and serves as the leasing agent for the property. John Hunter of John Hunter Services represented the tenant. Adaptive Adventures leased and moved into 3,355 square feet of space. The nonprofit organization provides outdoor sports opportunities to improve the quality of life for children, adults and veterans with physical disabilities. Jarvis Lighting renewed and expanded its lease to 19,652 square feet. The commercial lighting manufacturer and distributor previously occupied 10,552 square feet.

August 3, 2022

Office-Bldg-Camelback-Corridor-Phoenix-AZ

Acquisitions Arizona Office Western

Holualoa Cos., LaPour Partners Divest of 115,000 SF Office Building in Phoenix

by Amy Works August 3, 2022

PHOENIX — Holualoa Cos. and LaPour Partners have completed the disposition of a Class A office building in Phoenix’s Camelback Corridor. Oklahoma City-based Humphreys Capital bought the asset for $66.3 million, or $573 per square foot. The four-story, 115,000-square-foot building was 95 percent leased upon sale. The sellers acquired the site, which included seven existing two-story office buildings, in 2016. The existing structures were demolished and a LEED-certified building with a 326-space underground parking garage was developed on the site in 2018. Steve Lindley, Eric Wichterman, Alexandra Loye and Mike Coover of Cushman & Wakefield represented the seller in the transaction. The team also worked with Jerry Roberts and Pat Boyle of Cushman & Wakefield for office leasing advisory and Beth Lambert of Cushman & Wakefield for debt and equity finance.

August 3, 2022

Acquisitions Illinois Industrial Midwest Self-Storage

Westport Properties Acquires Two Self-Storage Facilities in Chicagoland

by Jaime Lackey August 3, 2022

CHICAGO AND WILMETTE, ILL. — Westport Properties has acquired two self-storage facilities in Chicagoland for an undisclosed price. The first property, located at 1516 N. Orleans Ave. in Chicago, totals 885 units and features wine storage, climate-controlled units, electronic gated access and 24-hour surveillance. The second asset, a 378-unit facility located at 3510 Wilmette Ave. in Wilmette, features RV and boat parking, climate-controlled units, electronic gated access and 24-hour surveillance. Westport will rebrand the properties under the US Storage Centers brand. The facilities mark Westport’s first two properties in Illinois. MJ Partners Self Storage Group represented the undisclosed seller.

August 3, 2022

Acquisitions Healthcare Midwest Ohio

Avison Young Brokers Sale of Three-Building Medical Office Complex in Toledo

by Jaime Lackey August 3, 2022

TOLEDO, OHIO — Avison Young has brokered the sale of a three-building medical office complex totaling 110,780 square feet in Toledo for an undisclosed price. The Regency Medical Campus features a surgery center, exam rooms, numerous physician and patient amenities, waiting areas and treatment areas. Mike Wilson, Erik Foster and Chris Livingston of Avison Young represented the seller, Barone Enterprises. Global Medical REIT was the buyer.

August 3, 2022

Affordable Housing California Development Mixed-Use Multifamily Retail Seniors Housing Western

Development Team Starts Construction of Evermont Mixed-Use Project in Los Angeles

by Amy Works August 3, 2022

LOS ANGELES — A co-development team consisting of BRIDGE Housing, the Coalition for Responsible Community Development (CRCD) and Primestor Development have started construction of Evermont, a mixed-use project on the former site of the 1992 Los Angeles riots. The new mixed-use development will deliver 180 affordable housing units for seniors and families, retail stores, a transit plaza and a Metro public transportation system training facility. Construction at Evermont is scheduled for completion in 2024. The residential component, led by BRIDGE Housing and CRCD, consists of Vista@Evermont, which will offer 62 permanent supportive housing apartments for seniors who have experienced chronic homelessness, and Luminus@Evermont, which will feature 118 affordable homes for families with low incomes, including 60 permanent supportive housing units. Located along the Vermont Corridor, the site is home to the second busiest transit stop in the entire Metro system. Additional key features of the development include a new, landscaped public transit plaza located on Vermont Avenue, plus improved pedestrian and cycling connections to other community facilities. The future LEED-certified facilities will be connected by a 22,000-square-foot plaza with a five-story parking structure to serve both commercial and residential tenants. Financial partners include JPMorgan Chase Bank, Los Angeles County Development …

August 3, 2022

Acquisitions Illinois Industrial Midwest

Clear Height Properties, Harbert Purchase 49,954 SF Industrial Building in Naperville, Illinois

by Jaime Lackey August 3, 2022

NAPERVILLE, ILL. — A joint venture between Clear Height Properties and Harbert US Real Estate, an investment fund sponsored by Harbert Management Corp., has purchased a 49,954-square-foot industrial building in the Chicago suburb of Naperville. The property, located at 2244 Corporate Lane, is fully occupied by two tenants. The building features a clear height of 20 feet and 10 drive-in doors. Adam Johnson and Tom Gnadt of NAI Hiffman represented the buyers. The seller and sales price were undisclosed.

August 3, 2022

Acquisitions Illinois Midwest Retail

Greenstone Partners Arranges $3M Sale of Retail Center in Suburban Chicago

by Jaime Lackey August 3, 2022

CRYSTAL LAKE, ILL. — Greenstone Partners has arranged the $3 million sale of a nearly 12,000-square-foot retail property in the Chicago suburb of Crystal Lake. The building, located at 5899 Northwest Highway, is 77 percent occupied with two vacant units. Jason St. John and AJ Patel of Greenstone represented the seller, a local, private partnership. The duo also procured the buyer, a private partnership completing a 1031 exchange.

August 3, 2022

Illinois Industrial Leasing Activity Midwest

New Tenants Sign Leases Totaling 32,101 SF at Industrial Property in Schaumburg, Illinois

by Jaime Lackey August 3, 2022

August 3, 2022

Development Hawaii Retail Western

KZ Cos. Breaks Ground on 45,737 SF Ho’omaka Marketplace in Kapolei, Hawaii

by Amy Works August 3, 2022

KAPOLEI, HAWAII — Irvine, Calif.-based KZ Cos. has broken ground on Ho’omaka Marketplace, a retail development located at the corner of Kapolei Parkway and Kualakai Parkway in Kapolei. Longs Drugs, HELE Gas, Chick-fil-A and 7-Eleven will anchor the 45,737-square-foot shopping center. The property will feature units ranging from 954 square feet to 4,008 square feet, plus a 15,000-square-foot anchor pad. Ho’omaka Marketplace is designed to provide an economic future for native Hawaiians who live in Kapolei, according to KZ Cos. All money generated through the ground lease proceeds will benefit Kapolei Community Development Corp. (KCDC), a nonprofit that serves Hawaiian homestead areas. KCDC will use the proceeds to support facilities, scholarships, education, childcare, emergency services and job creation for native Hawaiian families. The marketplace is minutes away from University of Hawaii West Oahu, Ka Makana Ali’I and Ho’opili, an 11,750-residence master-planned community. The retail center is also across the street from Ka Makana Alii, a 1.4 million-square-foot regional mall. The development team includes KZ Cos., KCDC and the Department of Hawaiian Home Lands. Architects Hawaii Limited and Wilson Okamoto are designing the project, which is slated for completion by summer 2023.

August 3, 2022

Acquisitions Arizona Multifamily Seniors Housing Western

CBRE Negotiates Sale of 170-Unit Andara Senior Living in Scottsdale, Arizona

by Amy Works August 3, 2022

SCOTTSDALE, ARIZ. — CBRE National Senior Housing has arranged the sale of and acquisition financing for Andara Senior Living, a 170-unit luxury seniors housing community in Scottsdale. Built in 2010, the community is located in an affluent pocket of Scottsdale and nestled in the foothills of the McDowell Mountains. The campus features two three-story residential wings interconnected by a covered walkway. The community offers independent living and assisted living services. Reliant Group sold the property to a joint venture between Colonial Oaks Senior Living and Fortress Investment Group. Although the price wasn’t disclosed, CBRE provided a $37 million fixed-rate Freddie Mac acquisition loan in connection with the sale. This transaction represents CBRE’s third financing of the community after previously arranging acquisition financing on behalf of the seller in 2012 and an agency refinancing in 2018. The CBRE investment sales team consisting of John Sweeny, Aron Will, Garrett Sacco and Scott Bray represented the seller, while the CBRE debt and structured finance team consisting of Aron Will, Austin Sacco and Adam Mincberg arranged the financing.

August 3, 2022

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