Property Type

Morgan/Harbour Construction Begins Phase II of Hub Group Headquarters in Oak Brook, Illinois

by Kristin Harlow August 21, 2019

OAK BROOK, ILL. — Morgan/Harbour Construction has broken ground on a new 135,000-square-foot, four-story build-to-suit for Hub Group on Clearwater Drive in Oak Brook. The project serves as Phase II for the headquarters of Hub Group, a supply chain solutions provider. In the second phase, Morgan/Harbour will construct a replica of the Phase I building with open work areas, private offices, conference rooms and a fitness center. The buildings will be connected via an underground walkway. Solomon Cordwell Buenz is the architect. Completion is slated for September 2020. Morgan/Harbour completed Phase I in 2014.

August 21, 2019

Acquisitions Industrial Midwest Self-Storage Wisconsin

Strategic Storage Growth Trust Acquires 770-Unit Self-Storage Facility in Milwaukee

by Kristin Harlow August 21, 2019

MILWAUKEE — Strategic Storage Growth Trust II Inc. (SSGT II) has acquired a newly constructed, 770-unit self-storage facility in Milwaukee for an undisclosed price. Located at 3420 W. Capitol Drive, the facility is situated on 3.9 acres and comprised of approximately 83,000 rentable square feet. The property features drive-up units, climate-controlled units, a covered loading area and gate access. SSGT II is a private real estate investment trust sponsored by an indirect subsidiary of SmartStop Self Storage REIT Inc.

August 21, 2019

Illinois Leasing Activity Midwest Retail

The RoomPlace Opens Two-Story, 84,000 SF Store at Lincolnwood Town Center in Northern Illinois

by Kristin Harlow August 21, 2019

LINCOLNWOOD, ILL. — The RoomPlace, an Illinois-based furniture store, has opened at Lincolnwood Town Center in northern Illinois. The retailer replaces a former Carson’s store. The 84,000-square-foot space incorporates three brands — The RoomPlace, The MattressPlace and RP Outlet. The location marks The RoomPlace’s largest store to date. Washington Prime Group Inc. owns Lincolnwood Town Center. Other retailers at the shopping mall include Kohl’s, Old Navy, Bath & Body Works, Foot Locker, Express and Champs Sports.

August 21, 2019

Loans Midwest Ohio Retail

NorthMarq Arranges $7M Acquisition Loan for Southland 75 Shopping Center in Dayton, Ohio

by Kristin Harlow August 21, 2019

DAYTON, OHIO — NorthMarq has arranged a $7 million loan for the acquisition of Southland 75 Shopping Center in Dayton. The 117,410-square-foot retail center is located at 8265-8361 Springboro Pike. Major tenants include Dollar Tree, Hobby Lobby and Get Air Trampoline Park. Noah Juran of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A regional bank provided the loan for the undisclosed borrower.

August 21, 2019

Acquisitions Industrial Midwest Minnesota

NKF Brokers $2.4M Sale of Industrial Building in Suburban Minneapolis

by Kristin Harlow August 21, 2019

COON RAPIDS, MINN. — Newmark Knight Frank (NKF) has brokered the sale of a 63,436-square-foot industrial building in Coon Rapids, a northern suburb of Minneapolis, for $2.4 million. The property is located on 24 acres at 9534 Foley Blvd. Java Enterprises LLC sold the building to Phoenicia Properties Corp. Dan Friedner and Jay Chmieleski of NKF represented both parties in the transaction.

August 21, 2019

Development Multifamily New Mexico Seniors Housing Western

MorningStar, Confluent Senior Living Deliver 70,863 SF Seniors Housing Community in New Mexico

by Amy Works August 21, 2019

RIO RANCHO, N.M. — Co-developers MorningStar Senior Living and Confluent Senior Living, a subsidiary of Confluent Development, have delivered MorningStar of Rio Rancho, a seniors housing community located at 2301 Golf Course Road SE in Rio Rancho. Situated on 5.5 acres, Morningstar of Rio Rancho features a total of 77 units, with 51 suites for assisted living and 26 suites for residents with memory impairment, in a mix of studio, one- and two-bedroom layouts. The one- and two-bedroom assisted living suites feature stacked washer/dryers, and all units include advanced technological features including an emergency call system and community-wide wireless internet. Additionally, the community offers restaurant-style and private dining options, a 24-hour bistro/bar, a workshop and art studio, community activities space with demonstration kitchen, a spa and massage therapy room, fitness center, theater/chapel, library and salon. Outdoor amenities include courtyards with trellises, walking paths, resident gardening areas and a barbecue area with grill and fire pit. MorningStar of Rio Rancho is the 12th joint venture between MorningStar and Confluent Senior Living. Confluent is the project owner and MorningStar serves as the operator of the property. The project team included Rosemann & Associates as architect, New Mexico-based Bradbury Stamm Construction as general …

August 21, 2019

Development Industrial Utah Western

Amazon to Open 1 MSF Fulfillment Center in Utah, Adding More Than 800 Employees

by Amy Works August 21, 2019

WEST JORDAN, UTAH — Amazon.com has announced plans to open a new fulfillment center in West Jordan. Seefried Industrial Properties will develop the more than 1 million-square-foot facility. The new fulfillment center will create more than 800 full-time jobs starting at $15 an hour with comprehensive benefits starting on the first day of employment, according to Amazon. The company currently employs more than 2,000 full-time associates throughout Utah. The center will be used to organize, pack and shop large customer items, such as sports equipment, patio furniture, fishing rods, pet food, kayaks, bicycles and larger household goods. Additional development details, including a timeline, have not been released.

August 21, 2019

Acquisitions California Industrial Western

Terreno Realty Acquires Five-Building Industrial Asset in Los Angeles for $18.1M

by Amy Works August 21, 2019

LOS ANGELES — Terreno Realty Corp. has purchased an industrial asset located in downtown Los Angeles from an undisclosed seller for $18.1 million. The property consists of five industrial buildings located at 130-134 and 140-148 S. Anderson St., 1319 Mono St. and 135-151 S. Utah St. Totaling 53,000 square feet, the asset features 11 grade-level loading positions and parking for 83 cars. At the time of sale, the asset was 90 percent leased to seven tenants, all of which expire within the next three years. Terreno Realty acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay area, Seattle, Miami and Washington, D.C.

August 21, 2019

Acquisitions Retail Washington Western

Hanley Investment Arranges $3.7M Sale of New Retail Building in Metro Seattle

by Amy Works August 21, 2019

FEDERAL WAY, WASH. — Hanley Investment Group Real Estate Advisors has negotiated the sale of a newly constructed retail building located at 164 SW Campus Drive in Federal Way. A Kirkland, Wash.-based buyer acquired the property from an affiliate of Henderson, Nev.-based Covenant Real Estate Group for $3.7 million. Situated on 1.2 acres, the 4,980-square-foot freestanding building is located at the signalized entrance to the WinCo Foods-anchored shopping center. The two-tenant building is occupied by a 2,104-square-foot Starbucks Coffee and a 2,876-square-foot Pacific Dental Services-supported dental office. Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller, while Scott Clements of Seattle-based Orion Commercial Partners represented the buyer in the deal.

August 21, 2019

Front-Medical-Office-Park-Westminster-CO

Acquisitions Colorado Healthcare Office Western

Unique Properties Brokers $3.3M Sale of Medical Office Park in Colorado

by Amy Works August 21, 2019

WESTMINSTER, COLO. — Unique Properties/TCN Worldwide has arranged the sale of Front Range Medical Office Park, a four-building property located at 8402-8406 Clay St. and 8403-8407 Bryant St. in Westminster. An undisclosed buyer acquired the complex from an undisclosed seller for $3.3 million, or $253.26 per square foot. Situated on 2.2 acres, the asset features 13,030 square feet of medical office space. At the time of sale, the property was fully occupied by two medical tenants with long-term leases. Sam Leger and Tim Finholm of Unique Properties/TCN Worldwide represented both parties in the transaction.

August 21, 2019

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