Property Type

CBRE Arranges $180M Construction Loan for Life Sciences Development in New Haven, Connecticut

by Julia Sanders July 9, 2021

NEW HAVEN, CONN. — CBRE has arranged a $180 million construction loan for the development of a life sciences facility at 101 College Street in New Haven. The project will total 525,000 square feet and include office and biomedical lab space. The property is already over 70 percent pre-leased to tenants including BioLabs and Arvinas, which will move its headquarters to the property. Yale University will serve as the anchor tenant, occupying 125,000 square feet of space in the building and three of its 10 floors, according to Yale News. The lobby and first floor will include a combination of event space and retail offerings. A commercial bank led the financing with participation from Webster Bank. Heather Brown, Robert Borden and Grace Keating of CBRE arranged the loan on behalf of the developers on the project, Harrison Street and Winstanley Enterprises. “Arvinas’ exciting pipeline of therapies targeting oncology and neurodegeneration represents the type of groundbreaking research being done in Connecticut and New Haven, and we look forward to supporting their continued growth,” says Carter Winstanley, a principal at Winstanley Enterprises. “We are also honored that Yale has made a significant commitment within the building to continue its cutting-edge discovery and …

July 9, 2021

Acquisitions Healthcare Indiana Midwest

Fairfield Advisors Arranges $88M Sale of Medical Office Building in Newburgh, Indiana

by Kristin Harlow July 9, 2021

NEWBURGH, IND. — Fairfield Advisors has arranged the $88 million sale of St. Vincent’s Orthopedic Hospital and Medical Office Building in southern Indiana’s Newburgh. Completed in 2019, the 136,000-square-foot building contains 10 operating rooms, 48 beds and a number of medical office suites. The facility is located at 10388 Warrick Trail. The tenant, St. Vincent’s Hospital, is part of the Ascension Health Network. Greg Trainor and Ben Whitney of Fairfield represented the seller, a physician group that developed the property. The buyer was undisclosed.

July 9, 2021

Illinois Loans Midwest Multifamily

Mesa West Capital Provides $85.2M Loan for Refinancing of Chicago Apartment Tower

by Kristin Harlow July 9, 2021

CHICAGO — Mesa West Capital has provided an $85.2 million loan for the refinancing of Eight Eleven Uptown, a 27-story luxury apartment tower in Chicago’s Uptown neighborhood. Developed in 2019, the 381-unit property is located at 811 W. Agatite Ave. Floor plans range from studios to three-bedrooms as well as eight townhomes. Peter Rubi Fresh Produce, which plans to open a grocery store at the apartment tower later this year, has leased 21,000 square feet. Mesa West Capital provided the loan on behalf of the borrower, a joint venture between Chicago-based developer JDL, Harlem Irving Cos. and funds managed by an institutional real estate manager. Loan details were not disclosed.

July 9, 2021

Acquisitions Industrial Midwest Nebraska

Investors Realty Brokers $11.4M Sale of Industrial Campus in Omaha

by Kristin Harlow July 9, 2021

OMAHA, NEB. — Investors Realty has brokered the sale of the Hi-Park Campus in Omaha for $11.4 million. The asset consists of eight flex industrial buildings that were fully leased at the time of sale. Located on the southeast corner of 94th and F streets, the campus spans 150,000 square feet. Ember Grummons of Investors Realty represented the buyer, Fulton Acquisitions. Clint Seemann of Investors Realty and John Dickerson of OMNE represented the seller, Hannibal Properties.

July 9, 2021

Development Industrial Midwest Minnesota

Opus to Build 35,600 SF Industrial Expansion for North Star Sheets Near St. Paul

by Kristin Harlow July 9, 2021

COTTAGE GROVE, MINN. — The Opus Group will build a 35,600-square-foot expansion for North Star Sheets at Southeast Industrial Park in Cottage Grove, about 10 miles south of St. Paul. North Star Sheets, a producer of corrugated paper products for manufacturing needs, currently occupies a 168,000-square-foot building on 16 acres. The company will use the expansion to increase capacity and add another rail spur to enhance its rail service infrastructure. Opus will serve as developer, design-builder, architect and structural engineer. Hillcrest Development LLLP owns Southeast Industrial Park. Eric Rossbach and Andy Heieie of Colliers International are the leasing agents for the property.

July 9, 2021

Illinois Loans Midwest Multifamily

American Street Capital Arranges $8.2M Loan for Refinancing of Multifamily Building in Chicago

by Kristin Harlow July 9, 2021

CHICAGO — American Street Capital (ASC) has arranged an $8.2 million loan for the refinancing of a 45-unit multifamily building in Chicago. Located in the Logan Square neighborhood, the property was originally built in 1928 and was recently modernized. Floor plans range from one-bedrooms to three-bedrooms. Igor Zhizhin of ASC arranged the agency loan, which features a five-year term, a fixed interest rate and a 30-year amortization schedule. Prior to this transaction, ASC also placed the acquisition bridge loan and original permanent debt for the asset.

July 9, 2021

Development Industrial Leasing Activity Texas

HomeGoods to Open 1 MSF Distribution Center at Carter Park East in Fort Worth

by Taylor Williams July 9, 2021

FORT WORTH, TEXAS — HomeGoods, a division of Massachusetts-based discount retail giant TJX Cos., will open a 1 million-square-foot distribution center within Carter Park East, a 556-acre industrial development in Fort Worth. The 100-acre build-to-suit property will also serve as a regional distribution center for HomeGoods’ sister brand, Homesense. Seth Koschak, Jeff Rein and Forrest Cook of Stream Realty Partners represented the developers of the building, New York-based Clarion Partners and a fund advised by Crow Holdings Capital, in the lease negotiations. Tony Kepano and Nathan Lawrence with CBRE represented the tenant. Rob Riner Cos. is the master developer of Carter Park East, which is located south of Interstate 20 and east of Interstate 35 on the south side of Fort Worth.

July 9, 2021

Development Industrial Texas

Stonemont Financial Breaks Ground on Three Spec Industrial Facilities in Fort Worth

by Taylor Williams July 9, 2021

FORT WORTH, TEXAS — Dallas-based Stonemont Financial Group has broken ground on three speculative industrial buildings totaling 699,000 square feet in Fort Worth. The developments will consist of a 213,000-square-foot building at FM 156 near Chaplin Drive and two buildings totaling 486,000 square feet at Golden Triangle and Harmon Road. Construction of all three buildings is set to begin in the coming weeks, with completion of the first project slated for March 2022 and delivery of the second and third buildings scheduled for May 2022.

July 9, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 582,803 SF Industrial Portfolio in Arlington

by Taylor Williams July 9, 2021

ARLINGTON, TEXAS — JLL has negotiated the sale of a 12-building, 582,803-square-foot industrial portfolio in Arlington. The portfolio includes 109th Street Business Park (414,724 square feet), 2821 East Randol Mill (40,000 square feet), 1170-1180 109th Street (93,079 square feet) and 3016-3030 Avenue East (35,000 square feet). The infill buildings were collectively 77 percent leased at the time of sale. Stephen Bailey, Dustin Volz, Dom Espinosa, Wesley Gilmer and Pauli Kerr of JLL represented the seller, Fort Worth-based investment firm Fort Capital, in the transaction. The buyer was Arden Group, a national investment management firm.

July 9, 2021

Acquisitions Office Retail Texas

CTO Realty Growth Buys Shops at Legacy North Retail Center for $72.5M

by Taylor Williams July 9, 2021

PLANO, TEXAS — Florida-based investment firm CTO Realty Growth Inc. (NYSE: CTO) has purchased The Shops at Legacy North, an approximately 236,000-square-foot office and retail center in Plano, for $72.5 million. The property was built on 12.7 acres in 2007 and was 83 percent leased across its office and retail components at the time of sale. The retail portion of the property consists of 121,496 square feet and houses tenants such as Capital Grille, Seasons 52, Mexican Sugar, Benihana and Ra Sushi. The office component spans 114,936 square feet and is home to users such as Unum, Technologent, Timmons Group, BRP and Shift Digital.

July 9, 2021

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