DAVIS, CALIF. — HighBridge Properties has started construction of The Ryder on Olive, a 706-bed development near the University of California, Davis. The 260,000-square-foot community is set for delivery in August 2021 and will offer a mix of fully furnished two-, three-, four- and five-bedroom units. Shared amenities will include a fitness center, yoga room, study areas, game rooms, a swimming pool, karaoke room, dog park and a 24-hour micro-market offering food and drinks. The project’s development team includes partner Grand Peaks Development; general contractor Brown Construction; Humphreys & Partners Architects; and South Park Interiors. Asset Living will manage the community.
TUCSON, ARIZ. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Ranch Estates of Tucson, a 107-unit senior living community in Tucson. The property was previously known as Sage Desert Assisted Living and Memory Care. Grace Management will take over operations. The Ranch Estates of Tucson is located in North Tucson’s Casas Adobes community, near Oro Valley. The seller and price were not disclosed. The new owner plans to make investments into the campus but did not release details.
RESEDA, CALIF. — Marcus & Millichap has arranged the sale of a retail building located at 18430 Sherman Way in Los Angeles. A limited liability company sold the asset for $8.9 million. The buyer was an undisclosed limited liability company. Walgreens occupies the 14,900-square-foot property under a lease agreement until 2023. The buyer plans to redevelop the property – most likely to multifamily – upon lease expiration. The property allows for the development of up to 223 residential units. Brandon Michaels of Marcus & Millichap represented the seller and buyer in the deal.
WILMINGTON, ILL. — Transwestern Investment Group (TIG) has sold the Michelin Super Regional Distribution Center in Wilmington, about 60 miles southwest of downtown Chicago. The sales price was undisclosed. A build-to-suit for Michelin, the 2 million-square-foot property is situated within Elion Logistics Park 55. The 2,500-acre rail-served industrial park features access to 30 percent of the U.S. population with a one-day drive, according to TIG. Michelin continues to occupy a long-term lease at the property. Nick Murphy and Josh McArtor of Eastdil Secured represented TIG in the sale. Silver Creek was the buyer.
CHICAGO — Calamos Investments, a global asset manager, has signed a multi-year lease for the top floors of Fulton East, a new office building located at 215 N. Peoria St. in Chicago’s Fulton Market. The new office will be in addition to the firm’s headquarters campus in Naperville. Parkside Realty Inc. developed Fulton East, which rises 12 stories and spans 90,000 square feet. The building was designed to address employee health, wellness and safety in light of COVID-19 and includes features such as a hands-free elevator system.
DAVENPORT, IOWA — Marcus & Millichap has brokered the sale of North Ridge Center in Davenport for $13.9 million. The 119,381-square-foot shopping center is located at 4016 E. 53rd St. Tenants include Michael’s, Old Navy, Bed Bath & Beyond, Ulta, Five Below and TJ Maxx. Jeff Rowlett of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Rowlett also secured and represented the buyer, a limited liability company.
LENEXA, KAN. — Made in KC has leased 8,166 square feet at The District at Lenexa City Center in Kansas. Launched in 2015, Made in KC provides local Kansas City artists a platform to reach customers across the metro area. The store features work from more than 300 local artists, designers and makers, including apparel, artwork, home and goods, accessories and culinary products. The new store, located on the first floor of Penn I, will be similar to the retailer’s Kansas City location. Erin Johnston of Copaken Brooks represented the landlord on an internal basis. Chris McIntyre of Merrill Cos. represented Made in KC.
DUNDEE, MICH. — Reichle Klein Group has arranged the $2.8 million sale of three office buildings in Dundee, about 60 miles southwest of Detroit. The properties total 20,500 square feet and are situated on 4.2 acres within the Helle Powell Professional Center, which is located on Helle Boulevard. Ryan Miller of Reichle Klein represented the seller, Toledo, Ohio-based State Street Venture Partners LLC. The buyer was undisclosed.
THE WOODLANDS, TEXAS — JLL’s Project & Development Services division has topped out Memorial Hermann The Woodlands Medical Center, a 365,000-square-foot medical office project located about 30 miles north of Houston. Construction of the nine-story building began in early 2020 and is expected to be complete in spring 2022. Austin Commercial is serving as the general contractor of the project. PhiloWilke served as the architect, and SSA was the engineer. JLL’s Project & Development Services division is leading development of the project along with Memorial Hermann Hospital System’s executive team.
HOUSTON — A partnership between locally based developer Boomerang Interests and CenterSquare, a global investment manager based in metro Philadelphia, will develop Houston ColdPort, a 315,101-square-foot speculative cold storage facility. Building features will include 50-foot clear heights, 38 fully automated dock positions, a 200-foot truck court, 57 trailer parking spaces and the ability to accommodate up to 40,000 pallet positions. Dallas-based design-build firm ARCO/Murray is designing and constructing the property, which will be able to support one or two tenants. Completion is scheduled for the second quarter of 2022.