EDWARDSVILLE, ILL. — Chicken Salad Chick, a fast-casual chicken salad restaurant concept, has expanded to its 15th state with its first Illinois restaurant opening in Edwardsville. This is the brand’s third location in the St. Louis area, with existing restaurants in Chesterfield and Creve Coeur. Located at 2323 Plum St., the 3,000-square-foot, Edwardsville restaurant is scheduled to open on Wednesday, June 26. Hannah Lukowski of SJ Restaurants LLC will own and operate the property. Lukowski currently owns three Firehouse Subs locations across Illinois and Missouri.
INDIANAPOLIS — Besyata Investment Group and The Scharf Group have acquired Southport Crossing Apartments in Indianapolis for an undisclosed price. Built in 1971, the 328-unit apartment property is located on Southport Road near Greenwood Park Mall. Amenities include a clubhouse, pool and fitness center. The seller was not disclosed.
RANTOUL, ILL. — Berkadia has negotiated the $7 million sale of South Pointe Commons in Rantoul, about 19 miles northeast of Champaign. The 245-unit multifamily property was originally built in 1959 as military housing for Chanute Air Force Base, which closed in 1993. The property is situated on 150 acres and consists of 37 two-story buildings. Floor plans are comprised of three- and four-bedroom units ranging from 1,050 to 2,300 square feet. Ralph DePasquale, Parker Stewart and Alex Blagojevich of Berkadia represented the Urbana, Ill.-based seller. Philadelphia-based Odin Properties purchased the asset.
FRANKLIN PARK, ILL. — Peloton Interactive Inc. has signed a 51,032-square-foot industrial lease at 10601 Seymour Ave. in Franklin Park. The 225,891-square-foot building was constructed in 2018. Peloton Interactive is a technology company dedicated to at-home fitness. The company’s products include Peloton Bike, Peloton Tread and Peloton App. The Peloton space at the building includes 2,798 square feet of office space, nine exterior docks, 15 trailer stalls, 60 car parking spaces, LED lighting and a clear height of 32 feet. The building’s first tenant, Xpress Global Systems LLC, occupies 66,773 square feet. Adam Tarantur and Steven Tick of Podolsky Circle LLC represented Peloton in the lease transaction. Tom Rodeno and Jim Estus of Colliers International represented the landlord, CenterPoint Properties.
PHILADELPHIA — Developer Chris Todd is nearing completion of The View at Old City, a 216-unit multifamily project in Philadelphia that is valued at $90 million. Located at the corner of Fourth and Race streets, the community is being developed at the site of the former home of Francis Hopkinson, a signer of the Declaration of Independence who designed the first official American flag and first U.S. coin. The property will offer a variety of different types of pet-friendly, open floor plans, from studios to two-bedroom units ranging from 441 square feet to 1,257 square feet. Amenities will include a pool, fitness center with a yoga studio, media room, outdoor grilling area, package locker service and a dog park. The View at Old City is expected to be available for occupancy in August.
NEW JERSEY — Seagis Property Group, an industrial investment firm based in metro Philadelphia, has acquired four assets in northern New Jersey totaling 274,000 square feet. The seller and sales price were not disclosed. The properties, which were fully leased at the time of sale, include 100 Frontage Road in Newark (180,000 square feet), 400 County Avenue in Secaucus (45,000 square feet), 27 Engelhard Avenue (26,000 square feet) in Avenel and 360 Allwood Road (23,000 square feet) in Clifton. Seagis now owns 32 buildings totaling 4.7 million square feet throughout Northern New Jersey.
NEW YORK CITY — Commercial brokerage firm TerraCRG has arranged the sale of 1000 Dean Street, a 150,000-square-foot office building in the Crown Heights area of Brooklyn, for approximately $55.9 million. Asher Abehsera, founder and CEO of LIVWRK, was the buyer of the historic building, which was originally constructed in 1920 as a service station for Dodge and Plymouth vehicles. LIVWRK is a real estate company focused on mixed-use urban development. The seller, a joint venture that included the Goldman Sachs Urban Investment Group, purchased the building in 2012 and converted it into an office property that is now home to more than 90 media companies, nonprofit organizations, tech start-ups and manufacturers. Ofer Cohen, Dan Marks and Daniel Lebor of TerraCRG brokered the deal.
SYRACUSE, N.Y. — Hampshire Venture Partners LLC has purchased a 134,444-square-foot retail building in Syracuse that was formerly occupied by Sam’s Club The purchase price was roughly $5.6 million. The new ownership plans to convert the building, which sits on 14.2 acres at 2649 Erie Blvd., into a self-storage facility. Phil Marshall of O,R&L Commercial represented Hampshire in the sale. Bill Anninos of CBRE represented the seller, Sam’s Real Estate Business Trust. No timeline for the building conversion was provided.
MONROE, CONN. — Urstadt Biddle, a publicly traded REIT based in Connecticut, has sold a 10,100-square-foot retail property in Monroe for $3.6 million. The deal closed at a capitalization rate of 6.9 percent. Tenants at the property, which Urstadt Biddle acquired in 2007, include Starbucks Coffee and M&T Bank. The buyer was an undisclosed, locally based investor.
CHARLOTTE, N.C. — The 965,000-square-foot Hearst Tower in Charlotte, which is owned by Cousins Properties, will be the new corporate headquarters for BB&T Corp. and SunTrust Banks Inc. once the merger between the two banks is complete. BB&T-SunTrust confirmed in a press release that the combined bank is expected to begin occupying 651,000 square feet of office space in phases from August 2019 to June 2021. Up to 2,000 employees of the proposed new company will be housed in the space. The lease term is for 15 years. The space is currently occupied by Bank of America and other tenants, all of which will move out to make room for BB&T-SunTrust. Bank of America has signed a 550,000-square-foot lease within Lincoln Harris’ Legacy Union in Uptown Charlotte. Winston-Salem, N.C.-based BB&T agreed to acquire Atlanta-based SunTrust in a $66 billion deal announced in early February. Details have not yet been released on future plans for the banks’ existing corporate offices. BB&T-SunTrust will have the option to purchase the 47-story building from Cousins Properties for $455.5 million through the fourth quarter of this year. If the company exercises that option, the sale will close in the first quarter of 2020. On Wednesday, …