BURLINGTON, MASS. — Azzur Group, a firm that helps life sciences companies start and scale, has signed a 50,300-square-foot office lease in Burlington, located north of Boston. Azzur Group plans to take occupancy of its space at 60 Blanchard Road by summer 2021. Newmark Knight Frank represented the building owner, a partnership between locally based development and investment firm Nordblom Co. and Alcion Ventures, in the lease negotiations. The Stevens Group represented the tenant.
YORK, PA. — ROCK Commercial Real Estate has negotiated a 14,479-square-foot office lease at Susquehanna Commerce Center, a 260,000-square-foot office complex in York. The property houses tenants such as Morgan Stanley Wealth Management and Wells Fargo Financial Advisors and offers an onsite parking garage and a café. David Bode of ROCK Commercial represented the landlord in the transaction. The tenant was Dentsply International Inc., a provider of dental equipment.
CHICAGO — Nielsen’s Global Consumer Business unit has selected Chicago as its global headquarters effective Jan. 1. Nielsen Holdings, which was founded in Chicago more than 95 years ago, decided late last year to spin off the consumer business as its own company. The branch will relocate its headquarters from New York City to its already-established office at 200 W. Jackson Blvd. in Chicago. The unit plans to further invest in and refresh the office, which currently employs a team of more than 600 workers. Nielsen’s Global Consumer Business plans to add at least 50 jobs over the next two years in Chicago. Worldwide, the consumer business employs approximately 30,000 people in nearly 100 countries. Nielsen is a marketing research and data analytics company.
ST. PAUL, MINN. — Kraus-Anderson has completed construction of 590 Park Street, a 92-unit apartment project in St. Paul. The $20 million development offers micro, studio and one-bedroom units. Located on the site of the former Capitol Professional Office Building, the project is situated near the State Capitol, Regions Hospital and a Green Line transit stop. Amenities at the six-story building include a lobby lounge, game room, outdoor patio, dog run, fitness center and clubroom. Kraus-Anderson Development is the developer, UrbanWorks Architecture is the architect and Engelsma LP is the owner. Monthly rents start at $926.
MUNDELEIN, ILL. — Venture One Real Estate has begun development of Route 60 Logistics Center, a 195,375-square-foot speculative industrial facility in Mundelein, a northern suburb of Chicago. Located at 1300 Allanson Road, the infill project will feature a clear height of 36 feet, onsite trailer parking and ample car parking. Chris Volkert, Ned Frank and Pat Hake of Colliers International have been retained to market the property for lease. Meridian Design Build is the general contractor. Completion is slated for the second quarter of 2021.
WEST DUNDEE, ILL. — The Opus Group has broken ground on an industrial build-to-suit for WEN Power Tools in West Dundee, a far northwest Chicago suburb. WEN, which is owned by Great Lakes Technologies, will relocate its headquarters to the 180,623-square-foot building within Oakview Corporate Park. The project will feature a 1,900-square-foot showroom, 4,000 square feet of office space, 21 truck dock doors, two drive-in doors and a clear height of 32 feet. Opus is serving as developer, design-builder, interior designer, architect and structural engineer. Eric Chang of U.S. Asia Investment Group LLC represented WEN while Noel Liston of Darwin Realty represented Opus. Completion is slated for March 2021.
CHICAGO — JLL Capital Markets has arranged the sale of a new 3,000-square-foot retail property occupied by 7-Eleven in Chicago for $5.9 million. Located at 3159 N. Clybourn Ave., the property opened in July. Alex Sharrin, Alex Geanakos and Truman Tiernan of JLL represented the seller, GW Property Group. The buyer was undisclosed. With more than 68,000 stores across 23 countries, 7-Eleven is the world’s largest store chain in the convenience retailing industry, according to JLL.
COSTA MESA, CALIF. — A public-private partnership between Orange Coast College and Servitas has completed the construction of a $123 million residence hall on the college’s campus in Costa Mesa. Named The Harbour, the 321,105-square-foot development offers 823 beds in 326 apartment-style, fully furnished units. Shared amenities at the property include study lounges on each floor, package lockers, bicycle storage, courtyards, onsite laundry and parking. “Servitas is honored to deliver this historic residence hall for Orange Coast College that not only provides its students with on-campus housing for the first time, but also serves as a guide for many surrounding community colleges looking to offer student housing,” says Angel Rivera, senior vice president of development services at Servitas. “During the final month of construction, all teams faced many challenges due to COVID-19 including a Southern California Glaziers union labor strike.”
SALT LAKE CITY — Newmark Knight Frank (NKF) has arranged the sale of a creative office building located at 324 S. State St. in downtown Salt Lake City. Hamilton Partners and Cantor Equities sold the asset to Mortenson Cos., the real estate investment arm of M.A. Mortenson Cos., for an undisclosed price. The recently renovated, five-story building features 221,145 square feet of creative office space. The property features large floorplates, scenic views, fitness center, adjacent parking structure, collaborative common areas and signage. Additionally, the building features ground-floor retail space that Ginger Street restaurant occupies. At the time of sale, the asset was 75 percent leased to a variety of tenants, including Ancestory.com, Spectrum Engineers and Utah’s Department of Financial Institutions. Kevin Shannon, Ken White, Rick Stumm and Bryce Blanchard of NKF brokered the transaction.
SAN JOSE, CALIF. — KBS Real Estate Investment Trust II has completed the disposition of 250 Holger Way, an office building located within District 237, a 415,492-square-foot office/R&D complex in San Jose. Foster City-based Bailard acquired the property for $38.2 million. The 76,410-square-foot office building is one of eight buildings that make up District 237, which was built in 1999 and 2001. All buildings of the property feature efficient floorplates and high visibility with more than 3,000 feet of Highway 237 frontage. Joe Moriarty, Scott Prosser, Jack DePuy, Russell Ingrum, Brad Zampa and Mike Walker of CBRE Northern California Capital Markets represented the seller, while the buyer was self-represented in the deal. Bruce Fischer, Howard Chu and Robyn Foianini of Greenberg Traurig LLP’s Orange County office provided legal counsel for KBS in the disposition.