Property Type

Colliers Arranges Sale of 46,830 SF Industrial Building in San Diego for $6M

by Amy Works September 17, 2019

SAN DIEGO — Colliers International San Diego Region has brokered the sale of an industrial building, located at 7550 Panasonic Way in San Diego’s Otay Mesa neighborhood. Guy C Clum Trust sold the property to RMJF LLC for $6 million. Concurrent with the acquisition, the new owner was able to secure a long-term lease for the property. Mark Lewkowitz and Chris Holder of Colliers International represented the seller, while Craig Fitterer of Lee & Associates represented the buyer in the deal. Constructed in 2005, the 46,830-square-foot building features drive-around truck access, dock- and grade-level loading and a large, secured yard.

September 17, 2019

Development Mixed-Use New Hampshire Northeast

Brady Sullivan Redeveloping 112,000 SF Mixed-Use Project in Keene, New Hampshire

by Alex Patton September 17, 2019

KEENE, N.H. — Brady Sullivan Properties is redeveloping the Colony Mill Marketplace, an existing 112,000-square-foot mixed-use project in Keene, located about 50 miles southwest of Concord. Construction of 89 apartments is slated for completion by the end of fall 2019, and the property already encompasses Elm City Brewing Co., Keene Casino and NBT Bank. The mill was originally built in the mid-1700s and was traded and redeveloped numerous times before it reopened as Colony Mill Marketplace in 1983.

September 17, 2019

Acquisitions Idaho Industrial Self-Storage Western

Marcus & Millichap Brokers Sale of 166-Unit Self-Storage Facility Near Boise

by Amy Works September 17, 2019

KUNA, IDAHO — Marcus & Millichap’s LeClaire Group has arranged the sale of Kuna Self Storage, a self-storage facility in Kuna, a suburb of Boise. Messmer Properties sold the asset to an undisclosed buyer. The acquisition price was not released. Kuna Self Storage features 166 non-climate-controlled units, 15 rentable outdoor parking spaces, a fully fenced storage area and an on-site manager’s office. Jordan Farrer of Marcus & Millichap’s Salt Lake City office and Adam Schlosser of the firm’s Denver office, in cooperation with Paul Ryan of Marcus & Millichap’s Boise office, represented the seller in the deal.

September 17, 2019

Acquisitions Connecticut Northeast Retail

Cushman & Wakefield Brokers Sale of 179,000 SF Office Property in Stamford, Connecticut

by Alex Patton September 17, 2019

STAMFORD, CONN. — Cushman & Wakefield has brokered the sale of Soundview Plaza, a 179,000-square-foot office property in Stamford, a northeastern suburb of New York City. At the time of sale, the property was 88 percent leased to 15 tenants. Amenities include a cafeteria, fitness center and conference center. A Cushman & Wakefield team including Gary Gabriel, David Bernhaut, Andy Merin, Brian Whitmer, Frank DiTommaso II, Al Mirin, Matt Torrance and Kate Schwartz represented the undisclosed seller and procured the buyer, an affiliate of TL Holdings.

September 17, 2019

Leasing Activity New York Northeast Office

Knotel Signs 27,000 SF Office Lease in Manhattan

by Alex Patton September 17, 2019

NEW YORK CITY — Knotel, a New York-based flexible workspace provider, has signed a 27,000-square-foot lease at 240 West 35th Street, a 165,000-square-foot class A office building in Manhattan. The space will comprise the entire 7th, 8th and 18th floors of the property. Essential Design + Build will renovate the space with both open offices and closed meeting rooms. Knotel plans to move into the space in fall 2019. Colin Godwin and John Cinosky of Atco Brokerage Services represented the landlord, ATCO Properties & Management internally in the lease negotiations. Douglas Regal, Jamie Katcher and Sebastian Infante of Cushman & Wakefield represented Knotel.

September 17, 2019

Loans Massachusetts Multifamily Northeast

NorthMarq Arranges $7M Freddie Mac Loan to Refinance Multifamily Property in Chicopee, Massachusetts

by Alex Patton September 17, 2019

CHICOPEE, MASS. — NorthMarq has arranged a $7 million Freddie Mac loan to refinance Montcalm Heights Apartments, a 192-unit multifamily property in Chicopee, located approximately 35 miles north of Hartford. The permanent fixed-rate loan was provided on a 10-year term with a 30-year amortization schedule. The property comprises two four-story buildings with studio, one- and two-bedroom apartments. Amenities include a pool, laundry facilities, picnic area and tenant storage units. Robert Ranieri of NorthMarq arranged the loan for a Freddie Mac borrower.

September 17, 2019

Development Illinois Midwest Office

Amazon to Expand Chicago Loop Office by 70,000 SF, Add 400 Jobs

by Kristin Harlow September 17, 2019

CHICAGO — Amazon has unveiled plans to expand its Chicago tech hub and create an additional 400 jobs in fields including cloud computing, advertising and business development. To accommodate the job creation, Amazon will expand its office in downtown Chicago by more than 70,000 square feet. This will double the company’s tech workforce within the city. Amazon’s Chicago tech hub is one of the company’s 18 North American tech hubs. Amazon employees in Chicago currently build and support products and services for Amazon Web Services, Amazon Advertising and the company’s transportation and operations units. Together with its customer fulfillment and retail facilities, Amazon has created more than 11,000 full-time jobs in Illinois and invested over $4.4 billion in the state since 2010.

September 17, 2019

Development Midwest Missouri Multifamily

265-Unit Apartment Community Opens in St. Peters, Missouri

by Kristin Harlow September 17, 2019

ST. PETERS, MO. — A new apartment community known as 5300 Centre Apartments has opened in St. Peters, about 30 miles west of St. Louis. Developed by Propper Construction Services, the four-story property features 265 units across two buildings. The community includes two rooftop garden areas, one of which is designed for recreation areas while the other is designated for quiet areas with hammocks and outdoor yoga classes. Other amenities include a pool, rooftop lounge, fitness center, business center, covered parking, electric vehicle charging stations and bicycle storage. Renters will be able to choose from fully furnished or unfurnished units. Monthly rental rates range from $920 for studios to $2,585 for three-bedroom suites. 2B Residential is the management and leasing company. Zwick + Gandt Architecture served as architect while S.M. Wilson & Co. was the general contractor. A grand opening celebration will take place this Thursday, Sept. 19.

September 17, 2019

Development Illinois Industrial Midwest

Krusinski Breaks Ground on 138,000 SF Headquarters for Yamazen in Elk Grove Village, Illinois

by Kristin Harlow September 17, 2019

ELK GROVE VILLAGE, ILL. — Krusinski Construction Co. has broken ground on the new headquarters for Yamazen Inc. in Elk Grove Village. The 138,000-square-foot, two-story building will be located at 111 NW Point Blvd. Yamazen, which sells and distributes machine tool equipment and is a subsidiary of Japan-based Yamazen Corp., will relocate its current operations and staff from Schaumburg. Completion is slated for summer 2020. The facility will feature 50,000 square feet of offices, conference rooms and product demonstration areas. The distribution space will include two loading docks, two drive-in doors and 137 car parking spaces. The project team includes Cornerstone Architects Ltd., civil engineer V3 Companies Ltd. and owner representative Ketone Partners.

September 17, 2019

Leasing Activity Midwest Ohio Retail

Makers Social to Join Tenant Lineup at River & Rich in Columbus, Ohio

by Kristin Harlow September 17, 2019

COLUMBUS, OHIO — Makers Social has joined the retail tenant lineup at River & Rich in the East Franklinton neighborhood of Columbus. The arts and crafts cocktail bar will occupy approximately 1,900 square feet. Guests will be able to choose from over 40 different projects to make while enjoying cocktails and local beers. Makers Social expects to open this winter. Casto owns River & Rich, a 230-unit apartment building that opened this summer. Designed with local art in mind, there are several murals within the project, which features 30,000 square feet of retail space. Roy G Biv, a nonprofit art gallery, is the marquee tenant at the property.

September 17, 2019

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