BATTLE CREEK, MICH. — Industrial Partners USA has purchased 55 acres in Battle Creek with plans to develop a 270,000-square-foot speculative industrial building. Battle Creek Unlimited (BCU) sold the land for an undisclosed price. Project plans call for 7,000 square feet of office space, 16 truck docks and 130 car parking spaces. Industrial Partners USA is a joint venture between Clark Logic and Great Lakes Capital. The developers expect to break ground later this summer with completion slated for March 2021. The total investment is estimated at $11 million. BCU is a nonprofit corporation that serves as the business and economic development arm for Battle Creek.
CHICAGO — Interra Realty has brokered the sale of 943 N. Crosby St., a 27-unit multifamily rental building in Chicago’s River North neighborhood, for $9.5 million. Built in 2018, the property offers 21 one-bedroom units and six two-bedroom units. It also features one commercial space, which is home to Premium Cabinets of Chicago. Amenities include garage parking, bike storage and a rooftop deck with grilling area. Joe Smazal of Interra represented the buyer, Recon Properties LLC. Recon Management Services Inc. will assume management of the property. Metro Park LLC was the seller.
AKRON, OHIO — LSI Industries has relocated from North Canton to a 46,360-square-foot industrial facility in Akron. LSI, a producer of lighting solutions, purchased the property from developer Industrial Commercial Properties (ICP). The facility is located at 5127 Boyer Parkway. Tim Breckner of Colliers International represented LSI in the sale. ICP worked closely with LSI to coordinate a tenant buildout.
TERRE HAUTE, IND. — Thompson Thrift Retail Group (TTRG) has sold a multi-tenant retail building in Terre Haute for $2.2 million. Birmingham, Ala.-based Sanders Capital Partners purchased the asset. Known as Honey Creek Pointe, the 7,871-square-foot building is fully leased to Five Guys, ATI Physical Therapy, Royal Nails and Sports Clips. TTRG completed development of the property in 2016. Carly Gallagher Kelly and Rick Drogosz of Mid-America Real Estate represented TTRG in the sale.
SCOTTSDALE, ARIZ. — CIM Group has funded a $95.6 million bridge loan for Stockdale Capital Partners for the firm’s Galleria Corporate Center in Scottsdale. Located at 4301-4343 N. Scottsdale Road, the asset features a 546,000-square-foot creative office building connected by a skybridge to a 10-story parking garage. The specific use of the funds was not disclosed.
CARLSBAD, CALIF. — Badiee Development has completed construction of Carlsbad Innovate, an adaptive flex industrial building located at 2810 Caribou Court in Carlsbad. Situated within Carlsbad Oaks North Business Park, Carlsbad Innovate feature 50,150 square feet of Class A space with energy-efficient lighting and appliances, polished concrete floors, high-image creative office finishes and large-scale open spaces. The building is 70 percent leased, with 15,558 square feet still available. Tenants include Zense, an innovator in diabetic predictive health solutions; an international conglomerate; and The Berg Group, a commercial drywall contractor. The project team included TFW as general contractor and Smith Consulting Architects as architect. Additionally, Ware Malcomb served as interior designer of all the speculative suites in the project.
AURORA, COLO. — Gardner Capital, in partnership with the City of Aurora, has completed the development of Alameda View Apartments, a 116-unit affordable multifamily property located at 15501 E. Alameda Parkway in Aurora. With close proximity to public transportation and walking trails, Alameda View features 20 one-bedroom units, 60 two-bedroom units and 46 three-bedroom units. Ross Management is serving as property manager for the development. Funding for the project was provided by Colorado Housing and Finance Authority, Citibank and Stratford Capital Group. The project team included Arco Construction and Denver Urban Gardens.
SANTA FE, N.M. — Dah Commercial has purchased Wagon Self Storage, located at 2 Emblem Road in Santa Fe, for an undisclosed price. The buyer has rebranded the self-storage facility as Mini U Storage. Originally built in 2009 and expanded in 2016, the property features 63,726 rentable square feet. The facility offers 611 climate-controlled units, recreational vehicle spaces and 42 wine storage units. The buyer is a national real estate investment and asset management company that has developed, acquired and/or managed more than $300 million of self-storage facilities. Adam Schlosser of Marcus & Millichap’s Denver office and Charles LeClaire of Marcus & Millichap’s LeClaire Group represented the seller, a local limited liability company, in the deal.
TEMECULA, CALIF. — PSRS has secured a $6.1 million loan for the refinancing of a warehouse facility located along Remington Avenue in Temecula. The newly built, concrete tilt-up property features Class A industrial space. David Hamilton of PSRS’ San Diego office arranged the 10-year, fixed-rate, non-recourse loan for the undisclosed borrower. The lender was a life insurance company.
NEW YORK CITY — New York City-based Extell Development Co. has begun closing condo sales and allowing resident move-ins at Brooklyn Point, a 68-story multifamily tower that is the borough’s tallest building. In addition to sales commencing and the return to in-person appointments and tours, the building’s first model residences will soon be unveiled. Designed by Kohn Pedersen Fox, the 720-foot-tall Brooklyn Point is located in downtown Brooklyn, across the street from Willoughby Square Park in the 600,000-square-foot City Point mixed-use development. Brooklyn Point offers a total of 483 for-sale residences in studio, one-, two- and three-bedroom floor plans. Pricing now starts at approximately $900,000, with buyers receiving a 25-year tax abatement. The property features more than 40,000 square feet of indoor and outdoor amenity space, including an infinity pool; outdoor movie screening space; a health and wellness club with an indoor pool, rock climbing wall and basketball court; and a spa. Brooklyn Point will also house a bar, salon, coworking space, chef’s demonstration kitchen, game lounge and a children’s play area. A ninth-floor terrace will offer outdoor lounge and grilling areas, a putting green and a bar. “With the neighborhood continuing to reopen and the area’s energetic atmosphere returning …