Property Type

CA Ventures, Midwest Property Group Break Ground on 12-Story Office Building in Chicago’s River North

by Kristin Harlow February 19, 2020

CHICAGO — Developers CA Ventures and Midwest Property Group Ltd. have broken ground on a 12-story, boutique office building located at 448 N. LaSalle St. in Chicago’s River North neighborhood. The Class A building is 75 percent pre-leased, as CA Ventures will occupy the lower five floors and WeWork will lease four floors. Chris Cassata and Craig Coupe of JLL will market the remaining three floors for lease. The 172,000-square-foot project is slated for completion in the first quarter of 2021. Amenities will include a rooftop deck, fitness center and bike room. Lamar Johnson Collaborative is the architect and Lendlease is the general contractor. Indure Build-to-Core Fund LLC provided project financing.

February 19, 2020

Acquisitions Massachusetts Northeast Retail

NKF Brokers Sale of Two Retail Spaces Totaling 418,970 SF in Plymouth, Massachusetts

by Alex Patton February 19, 2020

PLYMOUTH, MASS. — Newmark Knight Frank (NKF) has brokered the sale of two retail spaces totaling 418,970-square-feet within the Colony Place mixed-use development in Plymouth, located approximately 40 miles southeast of Boston. Texas-based investor The Rainier Cos. acquired the assets which include two spaces within the 1 million-square-foot Colony Place development: The Plaza, which comprises 230,497 square feet; and The Village, which comprises 188,473 square feet. The seller, Saxon Partners, will continue its role of master developer of Colony Place and will move forward with additions including a 320-unit apartment complex and a hotel. Robert Griffin, Geoffrey Millerd, Justin Smith and Paul Penman of NKF represented Saxon Partners in the transaction. The team also procured The Rainier Cos. as the buyer.

February 19, 2020

Indiana Industrial Loans Midwest

Ariel Property Advisors Arranges $19.9M Acquisition Loan for Industrial Facility in Indiana

by Kristin Harlow February 19, 2020

BEDFORD, IND. — The capital services division of Ariel Property Advisors has arranged a $19.9 million loan for the acquisition of a 384,000-square-foot industrial facility in Bedford, about 75 miles south of Indianapolis. A West Coast-based lender provided the loan, which features a 10-year, fixed-rate term and a 30-year amortization schedule. The property is home to defense contractors SAIC and Raytheon, as well as other tenants.

February 19, 2020

Development Multifamily Seniors Housing Texas

Civitas, Journey Capital to Develop 110-Unit Seniors Housing Community in Aledo, Texas

by Taylor Williams February 19, 2020

ALEDO, TEXAS — A partnership between Civitas Senior Living and Dallas-based developer Journey Capital will develop Harvest Senior Living, a 110-unit seniors housing community in Aledo, located west of Fort Worth. The 68,000-square-foot community will be situated on 7.5 acres and will feature 70 assisted living units, 20 memory care residences and 20 independent living residences. Amenities will include a salon, creative arts studio and chef-prepared dining options. Construction is scheduled to begin in June and to be complete by winter 2021.

February 19, 2020

Acquisitions Industrial Midwest Minnesota

Ackerberg Acquires 75,480 SF Industrial Building in Maplewood, Minnesota

by Kristin Harlow February 19, 2020

MAPLEWOOD, MINN. — Ackerberg has acquired a 75,480-square-foot industrial building located at 1140 Gervais Ave. in Maplewood, just east of St. Paul. The purchase price was undisclosed. The property features a clear height of 22 feet and 19 dock doors. It is fully leased to Minneapolis food bank Second Harvest Heartland. This summer, the food bank plans to relocate some of its operations to Brooklyn Center, thereby creating approximately 50,000 square feet of available space within the building. Dave Stokes and Chris Weirens of Cushman & Wakefield will market the space for lease on behalf of Ackerberg. Tim Carlson and Jim Vos of Cresa Partners represented the seller, Second Harvest Heartland.

February 19, 2020

Acquisitions Multifamily Texas

Marcus & Millichap Brokers Sale of Two Multifamily Assets Totaling 222 Units in Fort Worth

by Taylor Williams February 19, 2020

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of two multifamily assets totaling 222 units in Fort Worth. The properties, the 104-unit Villas del Sol and the 118-unit Wedgewood, are located within a mile of each other near McCart Avenue on the city’s south side. Al Silva of Marcus & Millichap represented the seller, a Dallas-based limited liability company, in the transaction. Silva and Dan Mullen, also with Marcus & Millichap, procured the buyer, a private investor.

February 19, 2020

Illinois Leasing Activity Midwest Office

Hofseth International Leases 4,000 SF Office in Rosemont, Illinois

by Kristin Harlow February 19, 2020

ROSEMONT, ILL. — Hofseth International has relocated to a larger 4,000-square-foot office space at 6300 N. River Road in Rosemont. Steven Goldstein of Jameson Commercial represented the tenant in the lease transaction. Goldstein also subleased Hofseth’s former 2,200-square-foot office at 5509 N. Cumberland Ave. in the O’Hare submarket. Hofseth is a producer, processor and marketer of seafood such as Norwegian Alaskan salmon.

February 19, 2020

Loans Multifamily New Jersey Northeast

JLL Arranges $20.5M Acquisition Loan for Jersey City Apartment Community

by Alex Patton February 19, 2020

JERSEY CITY, N.J. — JLL has arranged a $20.5 million loan for the acquisition of The Ashton, a newly completed, 93-unit apartment community in Jersey City. Rialto Capital Management provided the two-year, floating-rate loan to Normandy Opportunity Zone Fund LP, an investment fund managed by Columbia Property Trust. The Ashton offers one- and two-bedroom units with amenities including an 8,000-square-foot deck and a fitness center. Jon Mikula, Andrew Zilenziger and Zachary Chaikin of JLL placed the loan.

February 19, 2020

Development Multifamily New Jersey Northeast Seniors Housing

Hackensack Meridian Health Opens 100,000 SF Seniors Housing Community Near New York City

by Alex Patton February 19, 2020

MANALAPAN, N.J. — Hackensack Meridian Health has opened The Villas in Manalapan, a seniors housing community located approximately 30 miles east of Trenton. The property spans 100,000 square feet across seven acres and offers independent living, assisted living, memory care and skilled nursing. The number of units was not disclosed. The company is marketing the property to Staten Island residents looking to downsize. Independent living residences are available as studio, one- or two-bedroom apartments with monthly rates starting at $4,950.

February 19, 2020

Hospitality Leasing Activity New York Northeast

KW Commercial Negotiates 100-Room Master Lease for Hotel in Queens

by Alex Patton February 19, 2020

NEW YORK CITY — KW Commercial, the commercial real estate arm of Keller Williams Realty, has negotiated a new master lease for the 100-room Z Hotel in Long Island City in Queens. Sonder, a flexible stay hospitality startup, will lease and operate the entire hotel for a term of seven to 17 years. The property is located at 11-01 43rd Ave and includes 45,000 square feet of retail, office and amenity space. Julia Maksimova of KW Commercial represented the landlord, Merchants Hospitality. David Behin and J.D. Cohen of Newmark Knight Frank represented Sonder.

February 19, 2020

Newer Posts

Older Posts