Property Type

NorthMarq Arranges $31M Construction Financing for Apartment Property in Cincinnati

by Kristin Harlow June 28, 2018

CINCINNATI — NorthMarq Capital has arranged $31 million in construction financing for Encore Apartments at 716 Sycamore St. in Cincinnati. The 133-unit apartment property, which is now in the lease-up phase, features amenities such as a pool, observation lounge, outdoor kitchen, pet spa, clubroom and fitness center. Construction completed in 2017. Susan Branscome of NorthMarq arranged the 10-year loan, which features a 25-year amortization schedule. A life insurance company provided the loan on behalf of the undisclosed borrower.

June 28, 2018

Development Illinois Midwest Restaurant Retail

Craft Brewery to Anchor New Mixed-Use Development in Chicago

by Kristin Harlow June 28, 2018

CHICAGO — Craft brewery 5 Rabbit Cerveceria has signed a 12,000-square-foot lease to be the first retail tenant at Mural Park in Chicago’s Pilsen neighborhood. The Latin American-inspired brewery will anchor the property and occupy 5,000 square feet on the ground floor and 7,000 square feet in the basement for its brewing operation. The brewery is slated to open in early 2019. Jose Gonzalez and Joaquin Manriquez of JLL represented the landlord, Condor Partners, in the lease transaction. Mural Park is an office and retail redevelopment of two 100,000-square-foot loft buildings. The development is the starting point for El Paseo, a four-mile trails project that will connect Pilsen, Little Village and University Village.

June 28, 2018

Development Midwest Office Ohio

Chard Snyder Opens New Corporate Headquarters in Mason, Ohio

by Kristin Harlow June 28, 2018

MASON, OHIO — Chard Snyder, a third-party administrator of employee benefit solutions and wholly owned subsidiary of Ascensus, has opened its new corporate headquarters in Mason, about 25 miles north of Cincinnati. The 53,000-square-foot office property, located at 6867 Cintas Blvd., will house the company’s 170 team members with room to accommodate growth. Chard Snyder previously occupied space in Deerfield Township. Ascensus is a technology-enabled retirement, education and healthcare solutions provider. Al. Neyer was the general contractor.

June 28, 2018

Illinois Industrial Loans Midwest

Associated Bank Provides $13M Construction Loan for Speculative Industrial Building in Winfield, Illinois

by Kristin Harlow June 28, 2018

WINFIELD, ILL. — Associated Bank has provided a $13 million loan for the construction of a 265,550-square-foot speculative industrial building in Winfield, about 35 miles west of Chicago. The property, named North Avenue Commerce Center, is located along St. Charles Road. Construction is slated for completion by the end of this year. Conor Commercial Real Estate, the real estate development and investment arm of The McShane Companies, was the borrower.

June 28, 2018

Development Midwest Missouri Retail

Ross to Open at Belton Gateway Shopping Center in Missouri

by Kristin Harlow June 28, 2018

BELTON, MO. — Ross Dress for Less is opening a new store at Belton Gateway in Belton, approximately 21 miles south of Kansas City, on July 21. The store will span 22,000 square feet at the shopping center, which is located near I-49. With this new opening, Ross will operate 25 stores in Missouri and a total of 1,435 locations.

June 28, 2018

Acquisitions Arizona Multifamily Western

Cushman & Wakefield Brokers $50.5M Sale of Apartment Property in Phoenix

by Amy Works June 28, 2018

PHOENIX — Cushman & Wakefield has arranged the $50.5 million sale of Aura Apartments, a multifamily property located at 1920 E. Indian School Road in Phoenix. Banner Audere LLC, an entity formed by Northbrook, Ill.-based Banner Real Estate Group, acquired the property from Dallas-based TRG Indian School LP, an entity of Trinsic Residential Group. The newly constructed community features 220 apartments in a mix of one-, two- and three-bedroom floor plans. On-site amenities include a clubhouse with an entertainment lounge/coffee bar, resort-style swimming pool with spa, private poolside cabanas, outdoor fireside seating, and an outdoor kitchen with televisions and barbecue grills. Additionally, the property features a multi-level fitness center, cardio theater, spin bikes, pool table, electric car charging station, covered parking and detached garages, and controlled access. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller in the transaction.

June 28, 2018

Acquisitions California Office Western

EverWest Acquires 261,959 SF Office Park in Burlingame, California

by Amy Works June 28, 2018

BURLINGAME, CALIF. — EverWest Real Estate Investors, in partnership with Partners Group, has purchased Burlingame Bay Office Park, located at 555 and 577 Airport Blvd. in Burlingame. The acquisition price was not released. Situated on 13 acres, office park comprises a 120,681-square-foot building and 139,413-square-foot building, offering a total of 261,959 square feet. Ryan Madison provided in-house represented for EverWest in the deal. The name of the seller was not disclosed.

June 28, 2018

California Development Industrial Western

CapRock Partners Breaks Ground on 18-Acre Industrial Park in Inland Empire West

by Amy Works June 28, 2018

JURUPA VALLEY, CALIF. — Newport Beach, Calif.-based CapRock Partners has broken ground on Serrano Business Park in Jurupa Valley within the Inland Empire corridor. Situated on 18 acres, the three-building industrial development will feature units ranging from 31,220 square feet to 179,030 square feet and deliver 327,000 square feet of modern industrial space to the market. Each building will offer two percent prism skylights and can provide up to 4,000-amp, 277/480-volt electrical power. Additionally, the properties will meet sustainability standards consistent with California Green Building Standards Code. To complement tenant needs, the project will incorporate 4,500 square feet of executive office space positioned between the three buildings. The facilities will also include a minimum door clearance of 32 feet and ample secured parking and truck courts. Serrano Business Park is scheduled for delivery in 2019.

June 28, 2018

Arizona Development Hospitality Loans Western

Trez Capital Arranges $10M Construction Financing for 116-Room Hotel in Metro Phoenix

by Amy Works June 28, 2018

TOLLESON, ARIZ. — Trez Capital has secured more than $10 million in construction financing for Phoenix-based Virtua Partners. Loan proceeds will be used to finance the construction of a 116-room Fairfield Inn & Suites by Marriott in Tolleson, a western suburb of Phoenix. Slated to open in late summer 2019, the hotel will feature a fitness center, pool, free WiFi, an in-room ergonomic desk and chair, and an on-site business center. Hotel Equities will manage the hotel, which will anchor a 21-acre mixed-use development that will include office, retail, restaurants and 240 units of multifamily space.

June 28, 2018

Acquisitions California Retail Western

Progressive Real Estate Brokers Two Retail Parcel Sales Totaling $3.8M in San Bernardino

by Amy Works June 28, 2018

SAN BERNARDINO, CALIF. — Progressive Real Estate Partners has arranged the sales of two retail parcels at University Town Center in San Bernardino for a combined total of $3.8 million. Mike Lin and Maggie Gonzalez of Progressive represented the seller, a Norwalk, Calif.-based private investor, in both transactions. In the first deal, a Temecula, Calif.-based private investor acquired a single-tenant pad building, located at 4304 University Parkway, for $1.8 million. Jiffy Lube is the original lessee of the 2,173-square-foot building that was built in 2007. In the second deal, a Walnut, Calif.-based private investor purchased a multi-tenant building, located at 4414 University Parkway, for $2 million. Subway, Little Caesars and Liquid Tea Bar fully occupy the property.

June 28, 2018

Newer Posts

Older Posts