INDIANA — International Workplace Group (IWG), a coworking platform with brands including Spaces and Regus, has unveiled plans to open eight flexible workspaces in Indiana. The expansion brings the company’s footprint to 30 locations across the state. IWG’s network now comprises thousands of locations in 120 countries. The Indiana locations will provide space for established firms and start-ups across a range of the state’s top industries, including business and finance operations, healthcare support, management and more. IWG’s Design Your Own Office service allows companies to tailor their space entirely to their requirements. The new Regus, HQ and Spaces facilities will include private offices, meeting rooms, coworking and creative spaces, and are slated to open in the first and second quarters of this year. One HQ facility in Merrillville has already opened. The other locations will be in Martinsville, Valparaiso, Fort Wayne, South Bend and Indianapolis. IWG predicts that 30 percent of all commercial real estate will be flexible workspace by 2030.
RICHTON PARK, ILL. — Marcus & Millichap has arranged the sale of Carriage Creek Apartments, a 226-unit multifamily property in the southern Chicago suburb of Richton Park. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer and seller, both of which were private investors. Located at 22501 Butterfield Road, the property comprises 190,328 rentable square feet across nearly 26 acres. Built in two phases in 1972 and 1974, the community features a mix of studio, one- and two-bedroom units. The asset is within walking distance of the Richton Park Metra Station.
NEW LONDON, CONN. — Connecticut College, a liberal arts institution in New London, has completed the renovation of a campus center that was originally constructed in 1957. Known as the College Center at Crozier-Williams, the 65,0000-square-foot facility houses flexible study and gathering spaces, dining space, a relocated pub with event space and a landscaped terrace with a student garden. KSS Architects led the design of the renovation, which the college executed along with project manager Colliers.
GREEN BAY, WIS. — NAI Pfefferle has brokered the sale of a 13,500-square-foot office building located at 3450 Packerland Drive in Green Bay. The sales price was not disclosed, but the asking price was $2.9 million. Adam Meyers of NAI Pfefferle brokered the sale.
BURR RIDGE, ILL. — Ware Malcomb has completed the interior architecture and design, along with branding services, for the 3,500-square-foot outpatient office for Romeo Orthopaedics in Burr Ridge. Romeo Orthopaedics specializes in the management and surgical treatment of shoulder, elbow and sports medicine conditions. Ware Malcomb worked in partnership with the building owner, C.R. Panico & Associates, to complete the project. The project scope of work encompassed minor demolition, new walls and doors, power and data installation, updated ceilings and lighting, finishes and custom millwork. A dedicated X-ray suite required close coordination with specialty consultants to address equipment clearances, shielding requirements and infrastructure integration, ensuring compliance with clinical and safety standards. Morgan/Harbour Construction was the general contractor.
KEARNY, N.J. — Metro Philadelphia-based developer Seagis Property Group has begun vertical construction on a 53,315-square-foot industrial project in the Northern New Jersey community of Kearny. The fully secured warehouse at 500 Belleville Turnpike will feature a clear height of 36 feet, seven dock doors, two drive-in doors, 55 parking spaces and approximately 6,000 square feet of outdoor storage space. Construction is slated for a summer completion.
CHARLOTTE, N.C. — Cousins Properties has purchased 300 South Tryon, a 638,000-square-foot office building in Uptown Charlotte, for $317.5 million. Barings, a global asset management firm and subsidiary of MassMutual, sold the 25-story tower to the Atlanta-based REIT. The Spectrum Cos. developed the office building in 2017 as the global headquarters for Barings. Cousins is funding the acquisition with proceeds from non-core asset sales, debt financing and the settlement of common shares. 300 South Tryon was fully leased at the time of sale with a weighted average lease term (WALT) of six years.
EARLY BRANCH, S.C. — Frampton Construction has delivered a new 300,000-square-foot build-to-suit distribution facility located at 601 Bob Gifford Parkway in Early Branch for cookware manufacturer Le Creuset of America. The 62-acre property is situated in Hampton County and sits about 54 miles north of Savannah via I-95. The development serves as Le Creuset’s North American distribution hub and also features two stories of office space for the company’s executive offices, call centers and administrative support. The design-build team includes McMillan Pazdan Smith (architect), Thomas & Hutton (civil engineer), WGPM (structural engineer), Paulson Cheek Mechanical (mechanical and plumbing contractor) and Allegiance Industries (electrical contractor).
WASHINGTON, D.C. — DC Green Bank and Nuveen Green Capital have closed $42 million in C-PACE financing for a hotel conversion project in Washington, D.C. The project is a repositioning of a former warehouse in the city’s Georgetown district into the new 230-room citizenM Georgetown hotel. The borrower, Another Star, will operate the hotel upon completion of the conversion, which is expected for this summer. The project will include installing efficient HVAC, water heaters, insulation and lighting systems, which are estimated to save the property owner approximately $46,000 in utility costs per year. Another Star manages 37 citizenM hotels in the United States and Europe.
DEERFIELD BEACH, FLA. — Cushman & Wakefield has brokered the $34.5 million sale of two office buildings located at 602-668 and 776-858 S. Military Trail in Deerfield Beach, a city in South Florida’s Broward County. The single-story buildings are situated within Deerfield Corporate Park and total 157,510 square feet. The properties, dubbed Building 1 and Building 6, were 87.6 percent leased to 26 tenants at the time of sale. Scott O’Donnell, Greg Miller, Mike Ciadella and Miguel Alcivar of Cushman & Wakefield represented the seller, an affiliate of New Jersey-based Denholtz doing business as Denholtz Deerfield LLC, in the transaction. A private capital investment group purchased the two buildings. Deerfield Corporate Park was originally built in 1985 and renovated in 2017.