Property Type

Home-Chef-Western-Distribution-San-Bernardino-CA

McShane Construction Begins Construction of 107,134 SF Home Chef Warehouse in California

by Amy Works March 20, 2019

SAN BERNARDINO, CALIF. — McShane Construction Co. has started construction on the Home Chef Western Distribution Center in San Bernardino. The 107,134-square-foot property will support Home Chef’s growth and is scheduled to open in third-quarter 2019. Chicago-based Home Chef is a meal kit company that offers subscription meal kits online and retail meal kits at more than 700 Kroger stores in the United States. The warehouse facility will include 79,642 square feet of food preparation space, 17,907 square feet of office space and on-site parking for 208 vehicles. Additionally, the property will feature a vestibule, conference rooms, locker rooms, bathrooms, frock room and break room. Harris Architects is the architect of record for the project.

March 20, 2019

California Development Hospitality Western

R.D. Olson Breaks Ground on Dual-Branded Hilton Near Disneyland

by Amy Works March 20, 2019

ANAHEIM, CALIF. — R.D. Olson Construction has broken ground on a 223-room, dual-branded hotel located at 1441 S. Manchester Ave. in Anaheim. Situated two blocks from Disneyland Resort, the 220,000-square-foot property will comprise a 123-room Hilton Garden Inn and a 100-room Home2 Suites. Home2 Suites offers an extended-stay experience for guests, including a full-sized sleeper sofa, workspace and in-suite kitchen complete with a refrigerator, cooktop, dishwasher, dishes and glassware. Additionally, the dual-branded property will also include a laundry, fitness center and 24-hour marketplace. Both hotels will also have access to a restaurant, bar, pool, hot tub, kids splash pad and shared lobby. Guests at both hotels will also have access to 1,000 square feet of meeting space, 1,500 square feet of retail space and two levels of underground valet parking. Completion is slated for the fourth quarter of 2020. The project team includes BRR Architecture and Studio 11 Design.

March 20, 2019

Acquisitions California Industrial Western

Rexford Industrial Buys Two Industrial Properties in Southern California for $12.2M

by Amy Works March 20, 2019

VISTA AND SANTA CLARITA, CALIF. — Rexford Industrial Realty has acquired two industrial properties located in Southern California for a total of $12.2 million. Rexford purchased 2455 Ash St. in Vista within the North San Diego County submarket for $6.7 million, or $157 per square foot. Situated on 3.4 acres, the 42,508-square-foot property is fully leased to a single tenant. The building features dock-high loading, 22-foot clearance and a private yard. Additionally, the company acquired 25413 Rye Canyon Road in Santa Clarita within the San Fernando Valley submarket for $5.5 million, or $115 per square foot. Situated on 2.6 acres, the 48,075-square-foot property was currently 40 percent leased at the time of sale.

March 20, 2019

Acquisitions California Retail Western

Progressive Real Estate Arranges $3.5M Sale of Shops at Ramona Expressway in Inland Empire

by Amy Works March 20, 2019

PERRIS, CALIF. — Progressive Real Estate Partners has brokered the sale of Shops at Ramona Expressway in Perris. A Riverside, Calif.-based private investor sold the asset to a Monterey Park, Calif.-based private investor for $3.5 million, or $352 per square foot. Built in 2007 and located at 780 Ramona Expressway, Shops at Ramona Expressway features 9,808 square feet of retail space. At the time of sale, the property was 100 percent occupied. Greg Bedell of Progressive Real Estate Partners represented the seller, while Shane Delaney of REeBroker Group represented the buyer in the transaction.

March 20, 2019

Acquisitions Illinois Midwest Office

JLL Acquires Corporate Concierge Services

by Kristin Harlow March 20, 2019

CHICAGO — JLL has acquired Corporate Concierge Services, a national provider of onsite tenant amenity and concierge solutions for retail, office, residential and hospitality properties. JLL says the acquisition is in line with its mission to bring the level of service that guests experience in the hospitality sector to the office, retail and residential sectors. Corporate Concierge Services adds more than 200 employees to JLL. The majority will continue to work in the buildings where they provide services for their tenants. Founded in 2001 by Tom Larance, Corporate Concierge Services has employees in 15 markets across the country. Services include conveniences in office buildings such as TSA Pre-Check, dry cleaning and pickup delivery, flu shots and yoga classes as well as concierge services in retail and multifamily buildings.

March 20, 2019

Leasing Activity Midwest Minnesota Office

Law Firm Signs Lease Renewal, Plans Renovation at IDS Center in Minneapolis

by Kristin Harlow March 20, 2019

MINNEAPOLIS — Briggs and Morgan, a full-service law firm, has signed a 93,000-square-foot lease renewal at IDS Center in downtown Minneapolis. The firm plans to fully renovate its space, which is located on floors 22 through 25. Plans call for a more modern, open and collaborative space. Briggs and Morgan employs 250 people. Paul Donovan, Jaclyn May, Jeremy Striffler, Jennifer Stumm and Sherry Cushman of Cushman & Wakefield brokered the lease transaction. MP Johnson Construction Inc. and NELSON make up the project team. Completion is slated for mid-2020.

March 20, 2019

Loans Midwest Minnesota Mixed-Use

Money360 Provides $8.6M Refinancing for Mixed-Use Property in St. Paul

by Kristin Harlow March 20, 2019

ST. PAUL, MINN. — Money360 has provided an $8.6 million bridge loan for the refinancing of a mixed-use property in St. Paul. The building spans 156,671 square feet. The three-year, recourse loan features a loan-to-value ratio of 58.8 percent. The borrower was not disclosed.

March 20, 2019

Illinois Leasing Activity Midwest Office

InnerWorkings Signs 41,443 SF Headquarters Lease in Downtown Chicago

by Kristin Harlow March 20, 2019

CHICAGO — InnerWorkings Inc. has signed a 41,443-square-foot lease for its global headquarters to be located at 203 N. LaSalle St. in downtown Chicago. InnerWorkings is a marketing execution firm serving Fortune 1000 brands across a range of industries. The company is relocating from 600 W. Chicago Ave. in the River North submarket. Jeff Dowdell, Eric Myers and William Briggs of Transwestern Commercial Services provided office leasing services on behalf of the landlord, a publicly traded international holding company. Brandon Glick, Chris Bargowski and Sam Picchiotti of Mohr Partners Inc. represented the tenant. The 625,000-square-foot office property is now 71 percent leased.

March 20, 2019

Acquisitions Industrial Midwest Wisconsin

Nordic Realty Partners Purchases 19,500 SF Industrial Building in Sturtevant, Wisconsin

by Kristin Harlow March 20, 2019

STURTEVANT, WIS. — Nordic Realty Partners has purchased a 19,500-square-foot industrial building located at 9900 Durand Ave. in Sturtevant, about 30 miles south of Milwaukee, for an undisclosed price. The property includes 5,000 square feet of office space and 14,500 square feet of warehouse space. Nordic plans to make capital improvements and lease the space to one or more tenants. Titan Inc., a machinery manufacturing and testing firm recently acquired by Burke Porter Group, formerly occupied the building. The company is relocating to a larger facility. NAI MLG Commercial represented the seller in the transaction.

March 20, 2019

California Loans Retail Top Stories Western

George Smith Partners Arranges $101.3M Financing for Shopping Center in California

by David Cohen March 20, 2019

LA HABRA, CALIF. — George Smith Partners has arranged a $101.3 million bridge loan for La Habra Marketplace, a 375,000-square-foot, open-air shopping center in La Habra. Sprouts Farmers Market and Smart & Final anchor the 37-acre property, which is approximately 20 miles southeast of downtown Los Angeles. Steve Bram of George Smith Partners represented the borrower, DJM Capital Partners Inc., in the transaction. The loan, which includes $96.6 million in initial funding and $4.7 million in future funding, replaces senior and mezzanine loans on the property, and was negotiated at a floating interest rate of LIBOR plus 320 basis points. The lender is a private equity firm with a debt lending platform. “Dual-anchored by two top-name grocery stores, this is a large property in the midst of a successful repositioning,” says Bram, principal of George Smith Partners. “Led by experienced and well-respected ownership, the center has attracted national credit tenants and is situated in a prime location within the La Habra market. Our team was able to draw upon each of these elements to secure maximum leverage for this bridge loan.” Additional tenants at the center include Petco, Ulta Beauty, Hobby Lobby, Ross Dress for Less and LA Fitness. The center …

March 20, 2019

Newer Posts

Older Posts