DALLAS — Law firm Winstead PC has signed a 20,678-square-foot office lease expansion within the Harwood District, a development that spans 19 city blocks in Uptown Dallas. The firm’s occupancy of the third floor of Harwood No. 2 brings its total footprint within the building to 149,841 square feet. Hannah Mesh and Kelly Whaley internally represented the landlord, Harwood International, in the lease negotiations. Winstead, which has been a tenant at the Harwood District since 2012, was also self-represented.
CHICAGO — Waterton has acquired Alta Roosevelt Apartments in Chicago’s South Loop. Atlanta-based Wood Partners sold the property for $170 million, according to Crain’s Chicago Business. Located at 801 S. Financial Place and built in 2017, Alta Roosevelt features 496 units. Amenities include 50,000 square feet of common area space, which features an outdoor pool and spa, outdoor lounge with grilling stations and TVs, a dog park, bike room, package room, game room with bowling lanes, fitness center, yoga studio and entertainment kitchen. The property also includes a four-story parking garage. Waterton plans to rebrand the asset as The Elle, a nod to both Eleanor Roosevelt and Chicago’s elevated train station known as the “L.” Waterton will also make upgrades to the amenities. Danny Kaufman, Trent Niederberger, Lucas Borges and Mike Halbach of JLL arranged $99.5 million in acquisition financing on behalf of Waterton. The Freddie Mac loan features a seven-year term and a fixed interest rate.
ROMULUS, MICH. — The Kroger Co. has opened its newest customer fulfillment center (CFC) in Romulus. Powered by the Ocado Group, the roughly 135,000-square-foot CFC will leverage advanced robotics technology and creative solutions for Kroger delivery services. Kroger utilizes temperature-controlled vans and machine-learning algorithms that optimize delivery routes for grocery deliveries. Machine-learning algorithms adjust themselves to perform better as they are exposed to more data. Orders are delivered to customers’ doorsteps by trained Kroger associates. The CFC in Romulus will reach customers up to 90 minutes from the site and will employ more than 700 associates. Kroger first announced its partnership with Ocado, a technology company that specializes in grocery e-commerce, in 2018. Kroger currently operates CFCs in Ohio, Florida, Georgia, Wisconsin, Texas and Michigan. Additional centers are slated for California, Maryland, Arizona, Ohio, North Carolina and Colorado as well as South Florida and the Northeast.
ROLLING MEADOWS, ILL. — Marcus & Millichap has arranged the $1.5 million sale of Carnegie Street Business Center in the Chicago suburb of Rolling Meadows. The industrial property, located at 1225 Carnegie St., spans 25,800 square feet, includes seven suites ranging in size from 1,800 to 6,200 square feet. Peter Doughty of Marcus & Millichap represented the seller, a local private investor. Neil Bresnahan of Marcus & Millichap secured and represented the buyer, also a local private investor.
PEORIA, ILL. — The Cooper Commercial Investment Group has brokered the sale of a single-tenant property occupied by Oak Street Health in Peoria for $1.5 million. Dan Cooper of Cooper Group represented the seller, a private investment fund. The property sold to an all-cash buyer based in California. The sales price represented a cap rate of 6.7 percent. The property sold for 97 percent of the list price. Oak Street Health operates roughly 125 medical centers across 20 states and maintains a joint venture partnership with Humana Inc. Oak Street Health executed a new 10-year lease for the Peoria property in 2021.
FORT LEE, N.J. — CBRE has brokered the $116.5 million sale of Hudson Lights, a 276-unit apartment community located in the Northern New Jersey community of Fort Lee that was completed in 2016. According to Apartments.com, the property offers one-, two- and three-bedroom units ranging in size from 666 to 2,072 square feet. The amenity package comprises a pool with cabanas, fitness center with a yoga studio, resident lounge with a billiards table and catering kitchen and a children’s playroom. Jeff Dunne, Stuart MacKenzie, Eric Apfel, Zach McHale, Fahri Ozturk, Richard Gatto and Travis Langer of CBRE represented the undisclosed seller in the transaction. The team also procured the buyer, a joint venture between Skylight Real Estate Partners and Los Angeles-based PCCP LLC.
BELVIDERE, ILL. — Anytime Fitness has signed a 6,276-square-foot retail lease at Southtowne Shopping Center in Belvidere, a city in northern Illinois. The property is located at the corner of Highway 20 and Pearl Street. Rick Scardino of Lee & Associates represented the landlord, Southtowne Ventures LLC, in the transaction. Jack Siragusa of CBRE represented the tenant.
CARTERET, N.J. — NAI James E. Hanson has negotiated a 406,437-square-foot industrial lease renewal in the Northern New Jersey community of Carteret. Coffee distributor Continental Terminals will continue to occupy the entirety of the building at 200 Middlesex Ave. Scott Perkins, Chris Todd, Andrew Somple, Greg James and Justin Allessio of NAI Hanson represented the landlord, an undisclosed institutional investment firm, in the lease negotiations. Tom Carragher, Steve Korfiatis, Craig Engelhardt and Chris Carragher of Newmark represented the tenant.
WESTON, MASS. — Newmark has arranged financing for Riverside Labs, a 340,000-square-foot life sciences project in Weston, a western suburb of Boston. Riverside Labs will comprise three buildings, the first of which is slated for a summer 2023 delivery. David Douvadjian Sr., Timothy O’Donnell, Brian Butler, David Douvadjian Jr. and Conor Reenstierna of Newmark arranged the debt through Royal Bank of Canada on behalf of the borrower, a partnership between Greatland Realty Partners and Rockwood Capital. The loan, the amount of which was not disclosed, is part of Royal Bank of Canada’s $150 million total commitment to the development.
BRIGHTON, COLO. — Houston-based Lovett Industrial has broken ground on Lovett 76 Logistics Center, a Class A industrial facility in Brighton. Situated within Bromley Business Park, the 613,758-square-foot, cross-dock building will feature 36-foot clear heights, seven-inch reinforced concrete slab, 224 dock-high doors, 180-foot truck courts and at least 121 trailer parks, tenant dependent. Construction started in September and completion is slated for July 2023.