Property Type

Colliers Arranges Sale of 144,207 SF Industrial Building in Chicago

by Kristin Harlow January 27, 2021

CHICAGO — Colliers International has arranged the sale of 10500 Woodlawn Ave. in Chicago’s Pullman Crossings for an undisclosed price. The 144,207-square-foot industrial building is situated on 38 acres and serves as a last-mile logistics facility for Amazon. It features a clear height of 36 feet as well as parking for 347 cars and 856 vans. Ryan Cos. completed development of the build-to-suit property in September. Jeff Devine and Steve Disse of Colliers represented the seller, a joint venture between Ryan and Allstate Investments. A private foreign investor purchased the asset.

January 27, 2021

Leasing Activity Michigan Midwest Restaurant Retail

Saucy Brew Works to Open Brewpub, Coffeehouse in Detroit’s Brush Park

by Kristin Harlow January 27, 2021

DETROIT — Saucy Brew Works will open a new brewpub and coffeehouse in Detroit’s Brush Park neighborhood. The opening is slated for March 3. The 5,700-square-foot space will be the first restaurant within Bedrock’s City Modern apartment development. Guests will enjoy a variety of beers and specialty coffees in addition to food offerings such as appetizers, sandwiches, wings and pizza. In response to COVID-19, Saucy Brew Works will provide hand sanitizer, masks, six-foot table distancing and floor markers for spacing. Residents of City Modern will receive a 20 percent discount. This is the fourth location for Saucy Brew Works, which maintains restaurants in Cleveland, Columbus and Orange, Ohio.

January 27, 2021

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $4.1M Sale of Multifamily Property in Melrose Park, Illinois

by Kristin Harlow January 27, 2021

MELROSE PARK, ILL. — Kiser Group has brokered the $4.1 million sale of Vinan Apartments in Melrose Park, a western Chicago suburb. The 64-unit multifamily property is located at 2901 Vinan Drive and spans eight buildings. It was fully leased at the time of sale. Matt Halper and Danny Mantis of Kiser represented the buyer and seller, both of which were undisclosed. The property sold for 97.6 percent of the list price, according to Kiser.

January 27, 2021

Acquisitions Illinois Industrial Midwest

Entre Commercial Realty Arranges Sale of 10,500 SF Industrial Building in Gurnee, Illinois

by Kristin Harlow January 27, 2021

GURNEE, ILL. — Entre Commercial Realty has arranged the sale of a 10,500-square-foot industrial building in Gurnee for an undisclosed price. The property is located at 200 Ambrogio Drive and features six drive-in doors as well as 2,200 square feet of office space. Brian Bocci of Entre represented the buyer, Gen-3 Investments LLC, which will use the facility for its pool service operations. Charlie Mintz of JLL represented the undisclosed seller.

January 27, 2021

Alaska Development Office Western

Perkins&Will Designs $30M Renovation of KeyBank Plaza Office Building in Downtown Anchorage

by Amy Works January 27, 2021

ANCHORAGE, ALASKA — Perkins&Will, a global architecture firm, in partnership with an Alaska-based developer, has designed the $30 million modernization and expansion of 601 W. 5th Avenue, formerly the KeyBank Plaza Building located in downtown Anchorage. Originally constructed in 1972 by Alaska Mutual Savings Bank, the nine-story property required extensive structural repairs as a result of the region’s 7.1 magnitude earthquake in November 2018. In addition to seismic reinforcements, the nine-story building will undergo an external transformation into a sleek, glacier-like office building, paying homage to Alaska’s natural wonders. The reimagined property will feature an additional 40,000-square-foot sloped façade that reconfigures the building to resemble a glacier. Floor-to-ceiling windows will replace the existing precast concrete cladding to allow for maximum natural light. The redesign also includes radiant heating, six new skylights and drought-tolerant native plants. The building will be retrofitted with significant interior improvements, including the replacement of all mechanical, electrical and plumbing systems; construction of a new stair tower; modernization of the elevators; and installation of a freight elevator.

January 27, 2021

Development Healthcare Nevada Western

SR Construction Completes Five-Story Patient Tower at Centennial Hills Hospital in Las Vegas

by Amy Works January 27, 2021

LAS VEGAS — SR Construction, as design-build contractor, has completed a five-story patient tower at Centennial Hills Hospital in Las Vegas. The new tower features 72 patient beds, plus two floors of shell for additional intensive care, intermediate and medical surgical units. Centennial Hills Hospital opened The Birthplace within the new tower, adding two labor and delivery suites along with 36 mother-baby suites. Additionally, the hospital opened its new 36-bed nursing unit at the tower. SR Construction broke ground on the tower in October 2019 and completed all construction phases for the project in November, four months ahead of the scheduled delivery date.

January 27, 2021

California Development Multifamily Western

Alliance Residential Opens 403-Unit Broadstone Archive Apartment Community in Santa Ana

by Amy Works January 27, 2021

SANTA ANA, CALIF. — Alliance Residential has completed the development of Broadstone Archive, a multifamily property located 1901 E. Dyer Road in Santa Ana. Broadstone Archive features 403 apartments in a mix of studio, one-, two- and three-bedroom layouts ranging from 598 square feet to 1,470 square feet. All units offer quartz countertops, built-in under-counter wine fridges, in-unit washers/dryers and Samsung stainless steel appliances. The property also features smart technologies including fobless amenity and building entry, keyless unit entry, Nest thermostats, Dwelo smart home technology and Google Fiber. Community amenities include communal and private co-working spaces; a rooftop terrace with fireplace; resident clubroom with full kitchen, multi-level bar lounge, outdoor kitchen and dining space; Crossfit-style fitness center; basketball courts; karaoke studio; and racing simulator. The five-story property is the second of three multifamily communities developed in Park & Paseo, an 18-acre master-planned community that will total 1,221 residential units, 18,000 square feet of retail space and 56,000 square feet of office space at completion. The project team includes Alliance Residential as general contractor, AO as architect, MJS Landscape, Fuscoe Engineering and Bells + Whistles. Greystar will manage the property.

January 27, 2021

Loans Multifamily Seniors Housing Washington Western

NorthMarq Arranges $35M Refinancing for Weatherly Inn Seniors Housing Community Tacoma, Washington

by Amy Works January 27, 2021

TACOMA, WASH. — NorthMarq has arranged a $35 million refinancing for Weatherly Inn, an independent living, assisted living and memory care community in Tacoma. Developed in the mid-1990s, the community is family owned and operated. It features 136 units. Stuart Oswald, senior vice president and managing director of NorthMarq’s Seattle office, arranged the Freddie Mac financing with a 10-year term and 30-year amortization.

January 27, 2021

Arizona Development Industrial Western

LPC Buys Development Site in Phoenix for 321,873 SF Industrial Project Known As Buckeye85

by Amy Works January 27, 2021

PHOENIX — LPC Desert West has purchased nearly 20 acres in the Interstate 10 corridor for the development of Buckeye85, an industrial project in Phoenix. The 321,873-square-foot Class A property will offer location, flexibility and creative industrial amenities targeted for mid-size users focused on creating an omnichannel marketplace, according to LPC. Situated at the southwest corner of 103rd Avenue and Buckeye Road/MC-87 Highway, Buckeye85 will feature spaces divisible to 100,000 square feet, 36-foot clear heights, full concrete truck courts, a 94-door cross-dock configuration and freezer/cooler capabilities. Additionally, the development will offer touchless technology throughout; clerestory windows offering natural light; shaded and landscaped areas; built-in barbecue equipment; and seating for outdoor relaxing, dining and games. Construction is slated to begin in April with delivery by year-end 2021. Butler Design Group is serving as architect and Hunter Engineering is serving as civil engineer.

January 27, 2021

Development Industrial Texas

M2G, Pennybacker Capital to Redevelop 250,000 SF Industrial Property in Dallas

by Taylor Williams January 27, 2021

DALLAS — A partnership between North Texas-based M2G Ventures and Austin-based Pennybacker Capital will redevelop a 250,000-square-foot industrial property in the West Brookhollow area of Dallas. The project will convert a 1960s-era brick warehouse on a nine-acre site into a modern industrial building that will feature 20- to 24-foot clear heights and will be marketed to light industrial and logistics users. The redeveloped property will be branded PROTO Park. Completion is slated for September. The partnership also recently purchased the former Tuesday Morning distribution center in Dallas with plans to redevelop it.

January 27, 2021

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