Property Type

Conor Commercial Completes 198,109 SF Industrial Project in Mesquite, Texas

by Taylor Williams February 2, 2021

MESQUITE, TEXAS — Conor Commercial Real Estate, a division of The McShane Cos., has completed Skyline Commerce Center, a 198,109-square-foot industrial project located in the eastern Dallas suburb of Mesquite. The property consists of two buildings on a 12.3-acre site that fronts Interstate 30. Building 1 totals 135,396 square feet and features 32-foot clear heights, 12 trailer parking stalls and 133 car parking spaces. Building 2 spans 62,713 square feet and features 28-foot clear heights and 122 car parking spaces.

February 2, 2021

Industrial Leasing Activity Texas

CBRE Negotiates 123,966 SF Industrial Lease in El Paso

by Taylor Williams February 2, 2021

EL PASO, TEXAS — CBRE has negotiated a 123,966-square-foot industrial lease at 9541 Joe Rodriguez Drive in El Paso. Boston-based Equity Industrial Partners and New York-based Raith Capital Partners broke ground on the speculative building in March and have now leased the entirety of the space to a single, undisclosed third-party logistics user. Arturo De la Mora and Andres Sandoval of CBRE represented building ownership in the lease negotiations.

February 2, 2021

Acquisitions Industrial Texas

Stream Realty Partners Brokers Sale of 123,800 SF Industrial Building in Metro Dallas

by Taylor Williams February 2, 2021

GARLAND, TEXAS — Stream Realty Partners has brokered the sale of a 123,800-square-foot industrial building located at 2917 Oakland St. in the northeastern Dallas suburb of Garland. Adam Jones and James Mantzuranis of Stream Realty Partners represented the buyer, locally based investment firm CanTex Capital, in the transaction. Hal Penchan and Matt Troutt of Altschuler & Co. represented the undisclosed seller.

February 2, 2021

Industrial Leasing Activity Texas

RH Signs 62,000 SF Industrial Lease Near San Antonio

by Taylor Williams February 2, 2021

SCHERTZ, TEXAS — California-based retailer Restoration Hardware (RH) has signed a 62,000-square-foot industrial lease at Enterprise Industrial Park, a speculative development located in the San Antonio suburb of Schertz. The tenant will lease space at Building VI, which features 30-foot clear heights, trailer storage and office space. John Colglazier with Colglazier Properties represented the landlord, a joint venture between Atlanta-based Robinson Weeks and New Mexico-based Titan Development, in the lease negotiations. Kyle Mueller of JLL represented RH.

February 2, 2021

Affordable Housing Illinois Loans Midwest Multifamily

UnitedHealth Group Provides $15.4M for Construction of Mixed-Income Housing Project in Chicago

by Kristin Harlow February 2, 2021

CHICAGO — UnitedHealth Group has provided $15.4 million in construction financing for 508 Pershing at Oakwood Shores in Chicago’s Bronzeville neighborhood. Of the apartment building’s 53 units, 68 percent will be designated as affordable for households earning up to 80 percent of the area median income. The remaining 32 percent of units will be market-rate. Twenty of the units will receive public housing subsidies, enabling residents to pay income-based rent equal to 30 percent of their adjusted gross incomes. Amenities will include a resident lounge, fitness center, dog wash and bike storage. The four-story development will also include 3,500 square feet of ground-floor retail space. National Affordable Housing Trust and The Community Builders Inc. (TCB) are the developers. TCB will also provide onsite resident services, such as workforce development, youth development and health and wellness. Construction is underway with completion slated for the first quarter of 2022.

February 2, 2021

Loans Midwest Minnesota Multifamily Seniors Housing

Colliers Mortgage Originates $11M HUD-Insured Loan for Refinancing of Seniors Housing Property Near Minneapolis

by Kristin Harlow February 2, 2021

BLOOMINGTON, MINN. — Colliers Mortgage has originated an $11 million HUD 223(a)(7) loan for the refinancing of Realife Cooperative of Bloomington on Lyndale. The 96-unit seniors housing property is located in Bloomington, just south of Minneapolis. The loan, which is fully amortized over 36 years, lowered the interest rate and provided substantial annual savings, according to Colliers.

February 2, 2021

Acquisitions Industrial Michigan Midwest

Dominion Brokers Sale of 42,000 SF Industrial Building in Detroit

by Kristin Harlow February 2, 2021

DETROIT — Dominion Real Estate Advisors has brokered the sale of a 42,000-square-foot industrial building in Detroit for an undisclosed price. The property is located at 12727 Greenfield Road. Rem Murray of Dominion represented the seller, 12727 Greenfield LLC. Detroit-based logistics company LD Transport purchased the building.

February 2, 2021

Development Healthcare Illinois Midwest

Krusinski Construction Completes Buildout of Shirley Ryan AbilityLab in Arlington Heights, Illinois

by Kristin Harlow February 2, 2021

ARLINGTON HEIGHTS, ILL. — Krusinski Construction Co. (KCC) has completed the buildout of an 11,500-square-foot rehabilitation center for Shirley Ryan AbilityLab at Enterprise Office Campus in Arlington Heights. This project is the fourth Chicagoland facility that KCC has completed for Shirley Ryan AbilityLab, which was formerly known as the Rehabilitation Institute of Chicago. The Arlington Heights location features a therapeutic area, private therapy rooms, auxiliary rooms and a staff area. The project team included Cannon Design, Manhard Consulting and Ascent.

February 2, 2021

Illinois Leasing Activity Midwest Office

Wealth Management Firm Signs 11,318 SF Office Lease in Chicago

by Kristin Harlow February 2, 2021

CHICAGO — Brownson, Rehmus & Foxworth (BRF), a privately held wealth management company, has signed an 11,318-square-foot office lease to occupy space on the 18th floor at 227 W. Monroe St. in Chicago. Known as The Franklin, the two-building complex totals approximately 2.5 million square feet. It features a conference center, health club, underground parking and ground-level retail space. BRF will relocate from 200 S. Wacker Drive this summer. Tony Karmin and Corby Marx of Colliers International represented BRF in the lease transaction. Carey Spignese of Tishman Speyer Properties represented building ownership.

February 2, 2021

Acquisitions Colorado Multifamily Western

Summit Communities Acquires Boulder Crossroads Multifamily Community in Denver for $55.5M

by Amy Works February 2, 2021

DENVER — Summit Communities has purchased Boulder Crossroads Apartments, a multifamily property in Denver, for $55.5 million, or $172,360 per unit. The name of the seller was not released. Built in 1970 at 7500 Dakin St., Boulder Crossroads offers 322 apartments. The buyer plans to execute a strategic value-add renovation program at the property, which was lightly renovated prior to sale. Bill Morkes and Craig Stack of Colliers International represented the seller and procured the buyer.

February 2, 2021

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