BURLINGTON, MASS. — Developer Nordblom Co., in partnership with Life Time Living, has broken ground on a 167-unit multifamily project in Burlington, a northern suburb of Boston. Residents will have access to memberships at the adjacent athletic resort, concierge services and work-from home amenities. The property is situated within the 150-acre Northwest Park mixed-use development and will include an affordable housing component. Completion is slated for summer 2023.
PHILADELPHIA — Puttshack, an entertainment concept that combines mini golf with food and beverages, will open a 26,000-square-foot entertainment venue in Philadelphia. The facility will be located within The Shops at Liberty Place in the Center City district and will house four tech-driven courses, two bars and private event space. The opening is slated for summer 2023. Metropolis Investment Holdings Inc. owns the property. Puttshack currently operates facilities in Atlanta and Chicago and plans to open new venues in Boston and Miami this summer.
OVERLAND PARK, KAN. — JVM Realty Corp. has acquired The Vue, a 219-unit luxury apartment complex in the Kansas City suburb of Overland Park. Hunt Midwest sold the asset for an undisclosed price. Units at The Vue, located at 7201 W. 80th St., average 936 square feet. Completed in 2018, the six-story property includes 7,300 square feet of ground-floor retail space that is leased to tenants such as Parisi Coffee and Evolve Juicery & Kitchen. Amenities include a sundeck, fitness center, clubhouse, outdoor lounge and pet spa.
MINNEAPOLIS — Fox Rothschild LLP, a national law firm, is relocating its Minneapolis headquarters from Two22 Tower to City Center in November. The firm will occupy 39,081 square feet of Target’s former space. Francis Cauffman Architects will serve as architect and interior designer for Fox Rothschild’s new space, which will span half of floor 36 and the entirety of floor 37. City Center is a 51-story, 1.6 million-square-foot office and retail tower owned by Ryan Cos. US Inc.
STERLING HEIGHTS, MICH. — Alliant Credit Union has provided a five-year, $16 million loan for the refinancing of a 370,656-square-foot industrial building in Sterling Heights, about 20 miles north of downtown Detroit. The property includes 47,856 square feet of office space. The borrower was a private investor group that closed an original loan with Alliant in December 2017.
COUNTRYSIDE, ILL. — In a sale-leaseback transaction, MDH Partners has purchased a 78,490-square-foot industrial property in Countryside, about 18 miles southwest of Chicago. The sales price was undisclosed. The property is located at 5315 Dansher Road within Chicago’s North I-55 industrial submarket. Doug Pilcher of Cushman & Wakefield represented the seller and tenant, Sokol & Co., which is a food manufacturing company. Houston Hawley served as the acquisition lead for MDH.
ELGIN, ILL. — Chicago-based Martinez Produce & Seafood has expanded its Chicagoland footprint with the purchase of a 65,772-square-foot industrial facility in Elgin. The building, which features six truck docks and two drive-in doors, more than doubles the company’s footprint. Cory Kay and Mike DeSerto of Entre Commercial Realty represented Martinez Produce & Seafood, while Lee & Associates represented the seller. The sales price and seller were not provided.
PHOENIX — KB Investments has acquired Green Leaf Arts District, an apartment complex in Central Phoenix, for an undisclosed price. Located at 222 E. McDowell Road, the property features 280 units with nine-foot ceilings, gourmet kitchens, granite countertops, stainless steel appliances and modern cabinetry. Common area amenities include a two-story clubhouse with an upscale chef’s kitchen, a swim deck with a pool, spa and covered fireplace, a two-story fitness facility and outdoor yoga lawn and a gaming area with barbecue grills and fire pits. The community was built in 2017. Asher Gunter, Matt Pesch, Sean Cunningham, Austin Groen and Tyler Anderson of CBRE represented the seller, Green Leaf Capital Partners, in the transaction.
GARDENA, CALIF. — Cityview has broken ground on South Bay X, a multifamily project in Gardena that will feature 265 workforce housing units. Residences will be available in a mix of studio, one- and two-bedroom floor plans ranging in size from 510 to 1,197 square feet. Located at 12850 Crenshaw Blvd., the transit-oriented property offers access to Interstate 105, the LA Metro Green Line and Los Angeles International Airport. South Bay X is slated for completion in early 2025. The project is expected to create upwards of 1,000 jobs during its development.
BOULDER, COLO. — Good Investment Partners (GIP) has received a $27 million loan for the acquisition of a light industrial and office portfolio comprising six properties in Boulder. The single- and multi-tenant buildings are located at 6797, 6837 and 6899 Winchester Circle and 4695, 4697 and 4699 Nautilus Court. Completed between 1982 and 2001, the portfolio was 87.8-percent leased to 23 tenants at the time of the loan closing. The buildings offer clear heights ranging from 13.6 to 20.5 feet, high office finishes, 21 grade-level doors, 19 dock-high doors and ample parking. GIP plans to enhance the properties, which total 184,462 square feet, serve small- to mid-sized companies in the market. Jason Carlos and William Haass of JLL Capital Markets arranged the floating-rate loan through Argentic Investment Management.
