Property Type

AQUILA Nears Completion of 225,000 SF Spec Office Building in Austin

by Taylor Williams October 18, 2018

AUSTIN, TEXAS — AQUILA Commercial is nearing completion of The Preserve at 620, a 225,000-square-foot speculative office building located at 8201 North FM 620 in northwest Austin. The single-story building is slated to be complete before year’s end and has roughly 185,000 square feet still available for lease. Amenities at The Preserve at 620 include a fitness center, sports court and open courtyard spaces. Tech firm Innovative Aftermarket Systems (IAS) has preleased 40,000 square feet at the property.

October 18, 2018

Development Industrial Texas

Hillwood Breaks Ground on 75,000 SF Hangar Facility at Fort Worth Alliance Airport

by Taylor Williams October 18, 2018

FORT WORTH, TEXAS — Hillwood has broken ground on a 75,000-square-foot hangar facility at Fort Worth Alliance Airport for aviation defense firm Airborne Tactical Advantage Co. (ATAC). The facility will support pilot training and professional development in addition to aircraft maintenance. The project is expected to be complete by summer 2019 and could employ as many as 200 personnel.

October 18, 2018

Development Multifamily Seniors Housing Texas

KWA Completes 243-Unit Seniors Housing Community in Metro Dallas

by Taylor Williams October 18, 2018

ALLEN, TEXAS — KWA Construction has completed Larkspur at Twin Creeks, a 243-unit seniors housing community situated on eight acres in the northeastern Dallas metro of Allen. California-based Drever Capital Management and Dallas-based The Alder Group developed the property, which offers 18,000 square feet of amenity space, including a fitness center, crafts studio, game room and private wine lockers. Plano-based Architettura designed the project.

October 18, 2018

Development Illinois Industrial Midwest

Green Bay Packaging to Expand Operations in Illinois With 170,000 SF Complex

by Kristin Harlow October 18, 2018

DOWNERS GROVE, ILL. — Green Bay Packaging (GBP) has broken ground on a new 170,000-square-foot industrial complex in Downers Grove. The building will house a high-tech design department and enable the packaging company to expand warehouse capabilities. A timeline for construction was not disclosed. The Green Bay, Wis.-based company has manufacturing facilities in 14 states.

October 18, 2018

Illinois Industrial Leasing Activity Midwest

Concept Laboratories Signs 119,388 SF Industrial Lease in Chicago

by Kristin Harlow October 18, 2018

CHICAGO — Concept Laboratories Inc. has signed a 119,388-square-foot industrial lease at 4920 S. Central Ave. in Chicago. The designer and manufacturer of personal care and household products will relocate from 83,091 square feet at 4404 W. Ann Lurie Place when the lease commences in February 2019. The property on Central Avenue spans 461,750 square feet and includes 20 exterior docks, 12 interior docks and direct access to I-55. Mike Senner and Ned Frank of Colliers International represented the tenant in the lease transaction. Matt Mulvihill, Mitch Adams and Cal Payne of CBRE represented the landlord, Combined Warehouse Co.

October 18, 2018

Acquisitions Illinois Industrial Midwest

Entre Arranges Sale of 65,000 SF Flex Office Building in McHenry, Illinois

by Kristin Harlow October 18, 2018

MCHENRY, ILL. — Entre Commercial Realty LLC has arranged the sale of a 65,000-square-foot flex office building in McHenry for an undisclosed price. The property is located at 1391 Corporate Drive. Mike DeSerto and Dan Jones of Entre represented the undisclosed seller. The buyer, Papazyan Capital Group, plans to utilize a portion of the building for its own use while subdividing and leasing up other portions as small as 3,000 square feet.

October 18, 2018

Leasing Activity Midwest Minnesota Office

Merchant & Gould to Relocate Minneapolis Office

by Kristin Harlow October 18, 2018

MINNEAPOLIS — Merchant & Gould, a full-service intellectual property law firm, has unveiled plans to relocate its Minneapolis office from the IDS Center to Fifth Street Towers. The firm will occupy 40,246 square feet on the 21st and 22nd floors beginning in August 2019. Paul Donovan, Jaclyn May and Jeremy Striffler of Cushman & Wakefield represented the tenant in the lease transaction. Jennifer Stumm of Cushman & Wakefield will oversee the buildout of the space on the client’s behalf.

October 18, 2018

Illinois Loans Midwest Multifamily

NorthMarq Arranges $8M Refinancing for Apartment Property in Vernon Hills, Illinois

by Kristin Harlow October 18, 2018

VERNON HILLS, ILL. — NorthMarq Capital has arranged $8 million in refinancing for Emerald Pointe Apartments in Vernon Hills, a northern suburb of Chicago. The 120-unit apartment property is located at 695 Westmoreland Drive. Brett Hood of NorthMarq arranged the fixed-rate Fannie Mae loan, which features a seven-year term.

October 18, 2018

California Mixed-Use Top Stories Western

Public-Private Partnership Breaks Ground on $453M Redevelopment Project in LA’s Koreatown District

by John Nelson October 18, 2018

LOS ANGELES — Trammell Crow Co. (TCC), in a public-private partnership with the County of Los Angeles (LA County), Public Facilities Group and Meta Housing Corp., has commenced construction of Vermont Corridor, a three-site redevelopment project in Los Angeles’ Koreatown submarket. The development costs are estimated at $453 million, according to local media reports. LA County owns all three sites, which span three city blocks between 4th and 6th streets. Situated on Vermont Avenue within one block of the Metro Red and Purple subway lines, the transit-oriented project comprises: • a new, 468,000-square-foot, Class A office headquarters for the LA County Department of Mental Health and Workforce Development, Aging and Community Services • an adaptive reuse of an existing 12-story office building into 172 residential units and • a 72-unit affordable seniors housing complex with a 13,000-square-foot community center to be operated by the YMCA of Metropolitan Los Angeles Construction will occur in multiple phases, beginning with the development of the Vermont Corridor County Administration Building. Designed by Gensler, the 21-story building will feature 7,500 square feet of ground-floor retail space, a peer resource center, fitness facility, open office floor layouts, outdoor terrace with an amenity deck, an indoor/outdoor conference …

October 18, 2018

Market Reports Midwest Midwest Market Reports Office Ohio

Startups, Millennials Drive Strong Fundamentals for Columbus Office Market

by Kristin Harlow October 18, 2018

The Columbus office market continues to be diverse and thriving as the city becomes an economic hub in the Midwest. With a population that has grown to over 2.1 million people, and the eighth largest millennial population, Columbus has developed varied markets including concentrations in automotive, data centers, fashion/apparel, finance/insurance, food, healthcare, logistics, manufacturing, R&D, beauty, retail/e-commerce and technology. Columbus boasts 14 Fortune 1000 headquarters and five Fortune 500 companies, including Cardinal Health, Nationwide Insurance, American Electric Power, L Brands and Big Lots. Columbus also hosts a multitude of other large businesses, which are drivers in the market, such as The Ohio State University, JPMorgan Chase and Huntington Bancshares. Having such large employers in the central Ohio region has helped draw other small businesses and given rise to a thriving start-up community, which is supported by Rev1 Ventures (a technology incubator), several community supported incubators and venture capital. A successful Columbus start-up, Cover My Meds, recently sold for $1.3 billion, and the city of Columbus hopes that this is the first of many similar success stories. With its recent sale, Cover My Meds is now planning a new 400,000-square-foot corporate headquarters in Columbus. Another notable project in Columbus is Facebook’s …

October 18, 2018

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