Property Type

Midwest Truck and Auto Parts Leases 125,000 SF in Merrillville, Indiana

by Kristin Harlow October 27, 2020

MERRILLVILLE, IND. — Midwest Truck and Auto Parts has leased 125,000 square feet of industrial space at AmeriPlex at the Crossroads in Merrillville within Northwest Indiana. The 279,000-square-foot building is located at 9401 Georgia St. Crow Holdings Industrial is developing the speculative project, which is slated for completion in summer 2021. The building features a clear height of 32 feet, 30 exterior dock doors, 47 trailer stalls and 166 car parking stalls. The tenant, a truck and auto parts distributor with locations in five states, anticipates creating up to 150 new jobs at the Merrillville location by the end of 2024. Adam Haefner, Zeke Rowan and Marty Mikaitis of Avison Young represented the tenant in the lease transaction. Avison Young is the leasing agent for the remaining space at the building.

October 27, 2020

Acquisitions Indiana Midwest Office

Marcus & Millichap Brokers $1.1M Sale of Office Building in Fort Wayne, Indiana

by Kristin Harlow October 27, 2020

FORT WAYNE, IND. —Marcus & Millichap has brokered the sale of a 7,631-square-foot office building in Fort Wayne for $1.1 million. The property is located at 1020 E. Dupont Road. It was fully occupied by two tenants at the time of sale. In 2018, the property underwent improvements such as new LED lighting, HVAC units, carpet and a roof replacement. Jordan Klink and Nick Weaver of Marcus & Millichap’s The Klink Group marketed the asset on behalf of the seller, a Fort Wayne-based limited liability corporation. Agents from Marcus & Millichap’s San Diego office represented the undisclosed buyer.

October 27, 2020

Company News Massachusetts Northeast Restaurant Retail

Dunkin’ Shares Rise as Talks Progress for $8.8B Acquisition by Inspire Brands

by Taylor Williams October 27, 2020

CANTON, MASS. — Shares of Dunkin’ Brands Group Inc. (NASDAQ: DNKN) rose by more than 15 percent yesterday as the Massachusetts-based coffee and breakfast chain moved forward with talks to be acquired by Atlanta-based Inspire Brands, the parent company of chains like Arby’s and Jimmy John’s. The New York Post reports that the deal, which would take Dunkin’ private is valued at $8.8 billion. Dunkin’s stock price closed at $89.80 per share on Friday, October 23 and peaked at $104.87 per share in yesterday’s trading before closing just below that mark. Dunkin’ opened at $101.69 per share today, up nearly 30 percent from a year ago. The New York Times reports that Inspire Brands has offered to purchase Dunkin’, which will release its latest earnings report on Thursday, at $106.50 per share.

October 27, 2020

Development Industrial Northeast Pennsylvania

Hilco Reveals Redevelopment Plans for Former PES Refinery Site in Philadelphia

by Taylor Williams October 27, 2020

PHILADELPHIA — Hilco Redevelopment Partners, the real estate development unit of Hilco Global, has revealed plans for the remediation and repositioning of the 1,300-acre former refinery site of Philadelphia Energy Solutions (PES). The development will be known as The Bellwether District. The redevelopment plan includes the demolition of 105 onsite buildings, as well as hydrocarbon processing units, boiler rooms and wastewater treatment plants, to convert the site into a logistics hub that will house between 13 million and 15 million square feet of industrial space. The decommissioning and demolition plans also call for a significant amount of environmental cleanup work, including the removal of some 950 miles of pipeline and various pieces of infrastructure and equipment left behind at what was once the Northeast’s largest refinery.

October 27, 2020

Acquisitions Massachusetts Northeast Office

JLL Negotiates $72M Sale of 228,912 SF Office Building in Boston

by Taylor Williams October 27, 2020

BOSTON — JLL has negotiated the $72 million sale of a 228,912-square-foot creative office building located at 20 Guest St. in Boston. Designed by architecture firm ADD Inc. and completed in 2000, the property is located near the Boston Landing mixed-use development and was fully leased to seven tenants at the time of sale. Coleman Benedict, Kerry Hawkins and Ben Sayles of JLL represented the seller, NB Development Group, in the transaction. The buyer was a partnership between Griffith Properties LLC and Artemis Real Estate Partners.

October 27, 2020

Connecticut Development Multifamily Northeast Seniors Housing

WinnCos Completes 70-Unit Seniors Housing Redevelopment Project in East Haven, Connecticut

by Taylor Williams October 27, 2020

EAST HAVEN, CONN. — Developer WinnCos. has completed The Tyler, a seniors housing project in East Haven that is a redevelopment of an 84-year-old former high school building. The Tyler offers 70 units for individuals aged 55 and older and amenities such as a fitness center, outdoor courtyard and an arts and crafts room. The property consists of 67 one-bedroom units and three two-bedroom units. Twenty apartments rent at market rates, and 50 others are available for residents who earn 25 percent to 80 percent of the area median income.

October 27, 2020

Leasing Activity New York Northeast Office

Prime Clerk Signs 52,000 SF Office Lease Expansion in Brooklyn

by Taylor Williams October 27, 2020

NEW YORK CITY —Prime Clerk, a division of financial consulting firm Duff & Phelps, has signed a 52,000-square-foot office lease expansion at Liberty Bklyn, a 1.3 million-square-foot industrial and office waterfront redevelopment in Brooklyn. The tenant is expanding from its current 18,940-square-foot space on the fourth floor to an additional and adjacent 11,761-square-foot unit on the same floor and 21,000 square feet on the third floor. Madison Capital and Salmar Properties are the owners of Liberty Bklyn, which is located in Sunset Park and was formerly known as Liberty View Industrial Plaza.

October 27, 2020

Content Partner Heartland Feature Archive Lument Midwest Minnesota Multifamily RED Capital Group

The Twin Cities: An Unlikely Shelter in Turbulent Multifamily Markets

by Sarah Daniels October 27, 2020

The Minneapolis metropolitan area made plenty of headlines in 2020, and much of the news wasn’t good. The social fabric was frayed, and property damage estimated at between $250 million and $500 million ensued. On the surface, the Twin Cities appear unlikely sources of stability and relative safety for multifamily investors, and yet market performance and property value trends have so far proven resilient in the face of adversity. In comparison to many of the primary markets and its regional rival, Chicago, Minneapolis has navigated the effects of the pandemic recession remarkably well and may represent an attractive option for investors who remain committed to the urban mid-rise model, as well as those considering increased exposure to suburban situations. The Minneapolis economy was by no means immune to the effects of public health-related lockdowns. Payroll employment plunged by 270,000 jobs in March and April, representing about 13.3 percent of the February metro total. Although severe, pandemic losses fell below the national average (U.S. payrolls fell 14.6 percent) and were comparable to those recorded in Chicago and Milwaukee. Since April, the Minneapolis labor market has made considerable headway. The unemployment rate dropped to 7.9 percent in August, materially lower than the …

October 27, 2020

Development Multifamily Texas

Wood Partners Completes 204-Unit Alta Washington Apartments in Houston’s Memorial Park District

by Taylor Williams October 27, 2020

HOUSTON — Multifamily developer Wood Partners has completed Alta Washington, a 204-unit apartment community in the Memorial Park area of Houston. The property features one- and two-bedroom units, as well as six townhomes, with quartz countertops, stainless steel appliances and hardwood-style flooring. Amenities include a pool, fitness center, business center, package sorting room, outdoor grilling stations and a dog park. Move-ins will begin in early November. Rents start at $1,675 per month for a one-bedroom unit.

October 27, 2020

Industrial Leasing Activity Texas

Stream Realty Negotiates 252,187 SF Industrial Lease Renewal in Metro Dallas

by Taylor Williams October 27, 2020

CARROLLTON, TEXAS — Stream Realty Partners has negotiated a 252,187-square-foot industrial lease renewal at 2051 McKenzie Drive in Carrollton. According to LoopNet Inc., the property was built in 1985 and renovated in 2008. Blake Kendrick and Eric Crutchfield of Stream Realty Partners represented the landlord, Link Industrial Properties, in the lease negotiations. Ross Longo with Longo Commercial Advisors represented the tenant, Lennox Industries, a locally based provider of HVAC systems.

October 27, 2020

Newer Posts

Older Posts