FORT WORTH, TEXAS — American Specialty Health, a provider of musculoskeletal and fitness solutions, has signed a 164,000-square-foot office lease at Heritage Commons IV at AllianceTexas in Fort Worth. Steve Aldrich and Ian Kinne of Hillwood represented the landlord, Griffin Capital Essential Asset REIT, in the lease negotiations. Jenny Schreiner and Jon Altschuler of Altschuler & Co. represented the tenant. Mercedes-Benz Financial Services previously occupied the building before moving into a new space at AllianceTexas.
ODESSA, TEXAS — Marcus & Millichap has brokered the sale of the Guardian Self-Storage portfolio, which comprises 823 units across three facilities. The facilities span 143,000 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a private investor based in the Permian Basin that developed the portfolio in 2000. Karr also secured the buyer, a Texas-based private investment group.
CHICAGO — Uber Technologies has signed a 10-year office lease for 463,000 square feet at Chicago’s Old Post Office. The ridesharing company will serve as the building’s anchor tenant and expects to take over the space beginning Jan. 5. The office will be Uber’s second-largest office behind its headquarters in San Francisco. The owner and developer of the property, 601W Cos., is underway on an $800 million redevelopment of the 2.8 million-square-foot former post office. Walgreens, Home Chef, Ferrara Candy Co. and AbelsonTaylor have previously signed leases at the project.
CHICAGO — Avanath Capital Management LLC has acquired two affordable housing properties in Chicago for $43.7 million. Avanath purchased Scotland Yard Apartments in the Buena Park neighborhood for $28.3 million. Built in two phases in 1915 and 1917, the 156-unit property was renovated in 1982. Avanath plans to make a number of improvements to the property. The second community is Renaissance North, a 59-unit property that Avanath purchased for $15.4 million. Constructed in 2003, the community features one-, two- and three-bedroom units in addition to first-floor retail space. Renaissance North, built in conjunction with the Chicago Housing Authority, offers both market-rate and affordable units. Avanath will also make a series of upgrades to this property.
MINNEAPOLIS — Lupe Development Partners is set to break ground on the first phase of its affordable housing project in the Lyn-Lake area of Minneapolis. Located at 410 W. Lake St. south of Minneapolis, the first of three buildings will feature 111 units, nine of which will be intended for homeless veterans. The range of annual household income to be eligible for housing is $30,000 to $42,000. The development will include a mix of studio, one- and two-bedroom units. Construction on an identical Phase II is scheduled to begin in 2020. Plans are also underway for a third building. The project received a $1.2 million grant from the Metropolitan Council’s Livable Communities Demonstration Account and a $2.3 million loan from the Minneapolis City Council’s Affordable Housing Trust Fund. Other funding partners for Phase I include Hennepin County and the AFL-CIO Housing Investment Trust. The nearby Ballentine VFW Post 246 also served as a development partner. Completion of Phase I is slated for June 2020.
CHICAGO — J.C. Anderson has completed a 29,000-square-foot renovation project at the Aon Center in Chicago. The project scope included new amenities for the building’s 70th floor. Known as the Cloud Level, the project features a new fitness center, conference center, bar area, dining area, game room, library and private event meeting space. Gary Lee Partners provided architectural services and JLL provided project management services. Property owners include 601W Cos. and Brickell 13 Chicago. Located downtown, the Aon Center is an 83-story skyscraper. It is currently the third-tallest building in Chicago and was completed in 1973. Major tenants include Aon, JLL and Kraft Heinz.
RALSTON, NEB. — NorthMarq has arranged a $1.4 million loan for the acquisition of Ralston Business Park in Ralston near Omaha. The 59,488-square-foot industrial property is located along 77th Street. Steve Ruff of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A life insurance company provided the loan.
PHILADELPHIA — PMC Property Group, a Philadelphia-based developer, has broken ground on a 65,000-square-foot flagship store for GIANT Food Stores in Philadelphia. Located within the Gensler-designed Riverwalk mixed-use project, the store will offer more than 600 varieties of fresh and local produce, as well as curbside pickup and delivery services. The store is slated to open by fall 2020.
GARDEN CITY, N.Y. — Newmark Knight Frank (NKF) has brokered the sale of 900 and 990 Stewart Ave., two Class A office buildings totaling 462,000 square feet in Garden City, Long Island. The buildings were 88 percent leased at the time of sale. Kevin Welsh, Brian Schulz, Jason Emrani, Rob Griffin, Steven Schultz, Scott Berfas and Dan Oliver of NKF represented the seller, a joint venture of Boston-based The Davis Companies and New Jersey-based Onyx Equities, in the transaction. The NKF team also procured the buyer, a New York-based investor.
ORANGE, N.J. — CBRE has arranged the $7.3 million sale of a multifamily property in northern Orange, a western suburb of New York City. The property, 12-20 Canfield Street, consists of 47 apartment units and one retail unit. Nat Gambuzza, John Veniero, Trevor Fiebel and Manny Sanghera of CBRE represented the undisclosed seller in the transaction. The CBRE team also procured the buyer, a local investor.