Property Type

CMX CinéBistro Set to Open This Week at Wheeling Town Center in Suburban Chicago

by Kristin Harlow February 12, 2020

WHEELING, ILL. — CMX CinéBistro is set to open at Wheeling Town Center on Friday, Feb. 14 in suburban Chicago. The movie theater anchors the retail portion of the mixed-use project. Spanning 40,000 square feet CMX CinéBistro Wheeling will offer a bar and lounge area, seven screens, reclining seats and tables for food and beverage service. After 8 p.m., movie goers must be 21 years of age or older. Previous tenants who have opened at Wheeling Town Center include Starbucks, Inland Bank, AT&T and City Works. The apartments at the project opened in spring 2019 and are more than 70 percent leased.

February 12, 2020

Illinois Industrial Leasing Activity Midwest

ShipFusion Leases 381,600 SF Industrial Facility in Carol Stream, Illinois

by Kristin Harlow February 12, 2020

CAROL STREAM, ILL. — ShipFusion Inc., an e-commerce fulfillment company, has leased a 381,600-square-foot industrial facility at 365 E. North Ave. in suburban Chicago’s Carol Stream. The location will serve as ShipFusion’s new U.S. flagship operation. The Chicago-based company provides proprietary inventory management software and a wide range of fulfillment services, including freight, insurance, returns and custom workflows. Completed in 2017 on a speculative basis, the Class A facility features 40,000 square feet of temperature-controlled space, 8,500 square feet of office space and a clear height of 36 feet. Doug Pilcher and Jason West of Cushman & Wakefield represented ShipFusion in the lease. David Prell and Kevin Segerson of CBRE represented the landlord, Link Industrial Properties.

February 12, 2020

Acquisitions Industrial Midwest Wisconsin

Founders 3 Brokers $5.2M Sale of Industrial Building in Milwaukee

by Kristin Harlow February 12, 2020

MILWAUKEE — Founders 3 Real Estate Services has brokered the sale of a 98,600-square-foot industrial building in Milwaukee for $5.2 million. The property is located at 11925 W. Carmen Ave. Andy Hess and Derek Yentz of Founders 3 represented the seller, HK Ventures LLC. BIG Acquisitions LLC, a division of Brennan Investment Group, purchased the facility, which is fully leased to Hilmot.

February 12, 2020

Loans Midwest Multifamily Ohio

Ready Capital Closes $4.5M Refinancing for Multifamily Property in Cincinnati

by Kristin Harlow February 12, 2020

CINCINNATI — Ready Capital has closed a $4.5 million bridge-to-agency refinancing for a 148-unit, Class B multifamily property in the Winton Hills submarket of Cincinnati. The sponsor will use funds to retire existing debt, continue marking rents to market and implement a utility billing system. The nonrecourse, floating-rate loan features a 24-month term, one extension option and flexible prepayment. The sponsor has the ability to execute a low-cost refinancing with Ready Capital’s Freddie Mac small-balance loan program. The name of the borrower and property were not disclosed.

February 12, 2020

Loans Retail Texas

JLL Arranges Loan for Refinancing of 471,752 SF Retail Power Center Near Houston

by Taylor Williams February 12, 2020

CONROE, TEXAS — JLL has arranged a loan of an undisclosed amount for the refinancing of 336 Marketplace, a 471,752-square-foot retail power center in Conroe, about 40 miles north of Houston. The center is situated on 72 acres and houses tenants such as Kroger, Michaels, Dick’s Sporting Goods, Marshalls, Five Below, Ross Dress for Less, HomeGoods, Ulta Beauty, DSW and Burlington. Colby Mueck, Molly Leinsdorf and Tolu Akindele of JLL arranged the nonrecourse, fixed-rate loan through The Guardian Life Insurance Co. of America on behalf of the borrower, Fidelis Realty Partners.

February 12, 2020

Development Mixed-Use Texas

Winston Hotels Buys 20-Story Office Building in Downtown San Antonio for Mixed-Use Conversion Project

by Taylor Williams February 12, 2020

SAN ANTONIO — Winston Hotels LLC has purchased Riverview Towers, a 20-story- building in downtown San Antonio that previously served as a 298,000-square-foot office property. The new ownership will convert the building into a mixed-use development with 342 hotel rooms, 60,000 square feet of office space and 3,000 square feet of ground-floor retail space. The hotels will carry the dual brands of AC by Marriott and Element by Westin. A timeline for completion was not disclosed. Whit Jordan of CBRE represented Winston Hotels in the acquisition. Bart Wilson of Primera Partners represented the seller.

February 12, 2020

Development Multifamily Texas

Ventures Development, BCDC Break Ground on 270-Unit Multifamily Project in Terrell, Texas

by Taylor Williams February 12, 2020

TERRELL, TEXAS — Ventures Development Group and Batson-Cook Development Co. (BCDC) have broken ground on a 270-unit multifamily project in Terrell, an eastern suburb of Dallas. The property will be situated on 10.8 acres within the Crossroads at Terrell mixed-use development and will feature studio, one-, two- and three-bedroom units. Amenities will include a pool, playground, dog park, fitness center, demonstration kitchen and multiple lounge areas. Hodges Architecture is designing the project, and Construction Enterprises Inc. is serving as general contractor. The opening is slated for the fourth quarter.

February 12, 2020

Civic Development New York Northeast

JLL Completes $38M Iona College Building in New Rochelle, New York

by Alex Patton February 12, 2020

NEW YORK CITY — JLL Project and Development Services has completed construction of Iona College’s new LaPenta School of Business, a 68,000-square-foot building in New Rochelle, a northern suburb of New York City. Development costs were approximately $38 million. The project included a complete renovation of the college’s existing four-story business school and the ground-up construction of a 35,000-square-foot addition. Peter Rader led the JLL project management team. Gensler served as the project architect, and Pavarini North East Construction Co. was the general contractor.

February 12, 2020

Industrial Leasing Activity New Jersey Northeast

Hall’s Warehouse Corp. Renews 135,000 SF Industrial Lease in Piscataway, New Jersey

by Alex Patton February 12, 2020

PISCATAWAY, N.J. — Third party logistics provider Hall’s Warehouse Corp. has renewed its 135,000-square-foot industrial lease in Piscataway, a southwestern suburb of New York City. The property is situated within Rutgers Industrial Center, a five-building, 535,000-square-foot complex located at 120 Circle Drive N. The tenant has leased space at the property since 2003. Brian Dudzinski of Atlantic Real Estate Services represented Hall’s in the lease negotiations. Levin Management Corp. is the asset manager of the complex.

February 12, 2020

Development Multifamily Seniors Housing Texas

Civitas Opens 83-Unit Seniors Housing Community in Wimberley, Texas

by Taylor Williams February 12, 2020

WIMBERLEY, TEXAS — Civitas Senior Living has opened Alexis Pointe Senior Living, an 83-unit seniors housing community in Wimberley, located outside San Marcos in Central Texas. The property is located near Wimberley Town Square, the Cypress Creek Nature Preserve and Blue Hole Regional Park. Alexis Pointe Senior Living features 49 assisted living apartments, 24 memory care suites and 10 independent living cottages, as well as resort-style amenities.

February 12, 2020

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