MINNEAPOLIS — Canteen One has signed a 43,672-square-foot office sublease at 700 N. 5th St. in the North Loop neighborhood of Minneapolis. The company, which provides micro food markets, pantries and vending services for offices, is relocating from Golden Valley with 200 employees. Jim Damiani and Andrew Commers of Newmark represented Canteen One. Joe Conzemius, Ann Rinde and Larissa Bodine of CBRE represented the sublandlord, Solera.
HACKENSACK, N.J. — JLL has arranged a $78 million loan for the refinancing of The Current on River, a 254-unit apartment community in the Northern New Jersey community of Hackensack. Built in 2020, Current on River offers one- and two-bedroom units with an average size of 846 square feet. Residences feature granite/quartz countertops, stainless steel appliances, walk-in closets, in-unit washers and dryers and private patios/balconies. Amenities include a fitness center, pool with a sundeck, barbecue and picnic areas, a courtyard, coffee bar, clubroom, work lounge, pet spa and a conference room. Thomas Didio, Thomas Didio Jr. and Gerard Quinn of JLL arranged the 10-year, fixed-rate loan through New York Life on behalf of the borrower, an affiliate of locally based development and management firm Hekemian & Co.
BOSTON — InterSystems Corp., a Boston-based provider of data management services and healthcare information systems, has signed a 420,000-square-foot office lease in the state capital’s downtown area. The company will relocate from its current address at 1 Memorial Drive in Cambridge to One Congress, a 1 million-square-foot tower by The HYM Investment Group that is nearing completion, where it will occupy the top 14 floors. InterSystems Corp. will join financial services firm State Street Corp. and global law firm K&L Gates as the building’s anchor tenants. John Barry, Peter McQuaid and Jeff Landers of CBRE represented the landlord, a joint venture between Carr Properties and National Real Estate Advisors LLC, in the lease negotiations. Dave Fitzgerald and Tim Howe, also with CBRE, represented the tenant.
MILLSBORO, DEL. — Ohio-based owner-operator Chase Properties has acquired Peninsula Crossing, a 334,000-square-foot retail power center located in the southern Delaware city of Millsboro. Lowe’s Home Improvement and PetSmart anchor the open-air center, which will soon be adding German discount grocer Aldi to its tenant roster. According to mallsinamerica.com, other tenants at Peninsula Crossing include Supercuts, Mattress Firm, AT&T, GNC and Burger King. The seller and sales price were not disclosed.
CHICAGO — Chicago Mayor Lori Lightfoot has selected Bally’s Corp. as the preferred company to redevelop a former Chicago Tribune printing plant into a gaming and entertainment destination. The 30-acre site is located at the intersection of Chicago Avenue and Halstead Street along the Chicago River in the city’s River West neighborhood. The $1.7 billion proposal calls for the city’s first casino featuring 3,400 slots; 170 table games; 10 food and beverage venues; a 500-room hotel tower with rooftop bar; 3,000-seat, 65,000-square-foot theater; 20,000 square foot exhibition hall; outdoor music venue; and outdoor green space including an expansive public riverwalk with a water taxi stop. Mayor Lightfoot announced Thursday that Bally’s had won the project over competing bids from Hard Rock International and Rush Street Gaming. State regulators and the Chicago City Council will need to approve the plan before work can begin. The city’s evaluation report said the Bally’s proposal provides the most economic value to taxpayers, including an upfront payment of $40 million and annual payments to the city totaling $4 million. The project is expected to generate more than $800 million in gaming revenue on an annual basis, a substantial portion of which will support the city’s …
JENSEN BEACH, FLA. — Simon Property Group has signed Elev8 Fun to a 115,000-square-foot lease to backfill a former Sears department store at Treasure Coast Square Mall in Jensen Beach, a suburb of Port St. Lucie. The entertainment venue will feature go-carts, arcade games, laser tag, 12 bowling lanes and axe throwing, as well as party rooms, meeting space and a restaurant with a full bar. This location will be the third Florida venue for Elev8 Fun, which has identified 15 potential locations at malls and shopping centers around the state for its expansion. PrimeTime Amusements, a gaming machine supplier based in Fort Lauderdale, is a partner in the new Elev8 Fun location at Treasure Coast Square Mall.
ATLANTA — Eastern Union has arranged a $48 million bridge loan for the acquisition of Optimist Lofts, a 212-unit multifamily property situated at 2115 Piedmont Road NE in Atlanta’s Midtown district. The two-year, interest-only loan carries an interest rate underwritten at SOFR (secured overnight financing rate) plus 345 basis points, and features three one-year extension options. Completed in 2008, the property consists of 203 conventional units and nine “live/work” units housed in four three- and four-story buildings. The property also includes six ground-floor retail spaces totaling 8,026 square feet. The unidentified borrower and property owner is planning to undertake a multimillion-dollar capital expenditure initiative for improvements to approximately half of the units, as well as various exterior and common area renovations and site upgrades.
GARDEN CITY, GA. — Duke Realty Corp. has signed Newline Interactive, a manufacturer of touch display screens and other interactive communication hardware, to a 113,400-square-foot industrial lease approximately two miles from the Port of Savannah. The tenant will fully occupy a speculative facility currently under development at 15 Aviation Court in Garden City, which is situated on a nearly 10-acre site. The facility is designed to achieve LEED certification and will feature a clear height of 30 feet, 30 dock doors and 32 trailer parking spots. Cushman & Wakefield | Gilbert & Ezelle served as the tenant representative for the lease negotiations, and Brian Sutton represented Duke Realty internally. The lease with Newline brings Duke Realty’s 8.2 million-square-foot portfolio in the Savannah area to full occupancy.
DURHAM, N.C. — Restor3d, a locally based medical device manufacturer specializing in 3D-printed implants, has signed a 50,255 lease at Park Point, a 100-acre life sciences and creative campus within Research Triangle Park (RTP) in Durham. Restor3d will occupy 22,716 square feet on the first floor of the Edge West building and 27,509 square feet at the Grid building. The tenant aims to move into its space in the first quarter of 2023. Doug Cook of Cushman & Wakefield leads leasing efforts at Park Point on behalf of the landlord, Trinity Capital Advisors. Tucker Shade of Savills represented Restor3d in the lease negotiations.
CHARLOTTE, N.C. — Colliers Mortgage has provided an $8.8 million Fannie Mae loan for the acquisition of Tindall Park at South Park Apartment Homes, a 37-unit, market-rate multifamily property located at 6023 Tindall Park Road in Charlotte. The loan carries a five-year term and a 30-year amortization schedule. The borrower is Los Angeles-based Summit Equity Investments. Built in 2017, Tindall Park at South Park is a pet-friendly property featuring conference rooms, a library, 24/7 gym, onsite property management, community-wide Wi-Fi, elevator and a lounge.
