Property Type

Medici Living Group Opens 75-Unit Co-Living Concept in Chicago

by Kristin Harlow May 22, 2018

CHICAGO — Medici Living Group is opening QUARTERS in Chicago’s Fulton Market this month. The co-living concept will feature 75 apartment units, with 175 bedrooms known as “quarters.” Floor plans range from studios to five-bedroom units with a communal kitchen and bathrooms. The property also includes a common kitchen, outdoor lounge and rooftop deck. Co-living is aimed at young professionals, entrepreneurs and millennials because it provides all-inclusive housing. Each quarter is fully furnished with appliances and even mattresses, sheets and pillows. Leases are available for as little as three months. Medici has previously opened QUARTERS in Germany and New York City. Locally based Caton Commercial Real Estate Group assisted Medici with bringing the concept to Chicago.

May 22, 2018

Acquisitions Midwest Missouri Retail

Kimco Sells 89,305 SF Retail Building Occupied by Kohl’s Near St. Louis for $8.6M

by Kristin Harlow May 22, 2018

MANCHESTER, MO. — Kimco Realty Corp. has sold an 89,305-square-foot retail building occupied by Kohl’s in Manchester, a suburb of St. Louis, for $8.6 million. Kohl’s has occupied the property since 1998 and recently executed a 10-year lease extension. The single-tenant building is situated on 9.5 acres at 14425 Andersohn Drive. Marc Mandel, Steve Schrenk and Danny Kaufman of HFF represented Kimco in the sale. The buyer was not disclosed.

May 22, 2018

Acquisitions Midwest Minnesota Multifamily

Marcus & Millichap Brokers $1.4M Sale of Apartment Building in Minneapolis

by Kristin Harlow May 22, 2018

MINNEAPOLIS — Marcus & Millichap has brokered the $1.4 million sale of Colfax Avenue in the Uptown neighborhood of Minneapolis. The 12-unit apartment building is located at 2500 Colfax Ave. Built in 1967, the property features nine one-bedroom units and three studios. Mox Gunderson, Dan Linnell, Josh Talberg and Abe Roberts of Marcus & Millichap brokered the transaction. Both the buyer and the seller were private investors.

May 22, 2018

California Leasing Activity Office Property Type Top Stories Western

Facebook Signs Full-Building Lease for 43-Story Office Tower in San Francisco

by John Nelson May 22, 2018

SAN FRANCISCO — Social media giant Facebook Inc. (NASDAQ: FB) has signed a long-term lease to fully occupy Park Tower at Transbay, a 43-story office tower under construction in San Francisco’s Financial District. According to the San Francisco Business Times, the transaction is the largest office lease in the history of the city and will make Facebook the market’s third-largest tech tenant by square footage. Park Tower is co-owned by MetLife Investment Management, the asset management arm of MetLife Inc. (NYSE: MET), as well as Chicago-based owners and developers The John Buck Co. and Golub & Co. The ownership group plans to deliver the 764,700-square-foot office tower in the fourth quarter of this year. “We’re pleased to welcome Facebook to Park Tower,” says Joel Redmon, San Francisco-based managing director for MetLife Investment Management’s real estate business. “We’ve worked hard to design an office of the future that will facilitate technological innovation and provide a great foundation for Facebook’s future success.” Designed by Goettsch Partners and Solomon Cordwell Buenz, Park Tower at Transbay will feature approximately 26,000 square feet of outdoor and open space that includes 14 sky decks. The project will also feature a three-story, open-air lobby, and about 70 …

May 22, 2018

Features Retail

Phillips Edison: Pop-Up Spaces, Showrooms Reflect Evolution of Retail

by Taylor Williams May 21, 2018

LAS VEGAS — E-commerce has disrupted the market for retail real estate on a seismic level, but it has not obliterated the need for brick-and-mortar shops. Instead, the online shopping craze has functioned as an evolutionary mechanism. E-commerce has forced retail operators and landlords to both bolster their digital platforms and enhance their in-store shopping experiences. “Much has been made of the need for brick-and-mortar retail to adapt to e-commerce, but we’ve also seen a shift in the other direction with a number of e-retailers opening brick-and-mortar showrooms to complement online offerings,” said Mike Conway, vice president of national accounts and retailer partnerships at Phillips Edison. “Overall, we’re confident that the future for retail is bright, and we can’t wait to see how these trends continue to unfold.” For consumers, this evolutionary shift means that retailers are looking to interact more with shoppers in their stores. The manner in which retailers enhance the shopping experience varies from concept to concept. But some trends are beginning to emerge, according to a recent report from Phillips Edison, a REIT specializing in grocery-anchored retail properties. And the use of pop-up spaces and showrooms are two of the leading practices for retailers to consider …

May 21, 2018

Development Industrial Texas

H-E-B to Open 871-Acre Distribution Center in San Antonio

by Taylor Williams May 21, 2018

SAN ANTONIO — H-E-B, the leading grocer in Texas by market share, will open an 871-acre distribution center in San Antonio, the city in which the grocery chain is based. Situated on the city’s east side, the facility will also allow for food processing and storage. According to local news outlet KSAT, the project is expected to create 300 new jobs over the next five years. Construction is scheduled to begin later this year with a target completion date of late 2019.

May 21, 2018

Loans Multifamily Texas

Arbor Provides $21.4M Fannie Mae Refinancing of 354-Unit Apartment Asset in Houston

by Taylor Williams May 21, 2018

HOUSTON — Arbor Realty Trust Inc., a New York-based direct lender, has provided a $21.4 million Fannie Mae loan for the refinancing of Casa del Mar, a 354-unit multifamily community in Houston. The property is situated on Interstate 45 on the city’s north side. Floor plans include one- and two-bedroom units and amenities include two pools, a playground, on-site laundry facilities and a tennis court. The borrower was not disclosed.

May 21, 2018

Peppertree-Spanish-Oak-Apartments-Odessa-Texas

Loans Multifamily Texas

NorthMarq Arranges $8M Acquisition Loan for Apartment Community in Odessa

by Taylor Williams May 21, 2018

ODESSA, TEXAS — NorthMarq Capital has arranged approximately $8 million in financing for the acquisition of Peppertree & Spanish Oak Apartments, a 180-unit multifamily community located in the West Texas city of Odessa. Amenities at the property include a pool, tennis and basketball courts, a business center and on-site laundry facilities. Carl Pankratz of NorthMarq arranged the financing on behalf of an undisclosed borrower through a bridge/mezzanine lender.

May 21, 2018

Leasing Activity Retail Texas

Fitness Chain to Open Two New Gyms in Dallas Area

by Taylor Williams May 21, 2018

ADDISON AND KELLER, TEXAS — Hotworx, a fitness concept that centers on virtual exercise programs in high-temperature settings, will open two new gyms in the Dallas area. The company will open a 2,100-square-foot gym in Addison and a 1,750-square-foot gym in Keller, with both locations targeting August openings. Sean Lockovich of Henry S. Miller Brokerage (HSM) represented Hotworx in both lease negotiations. The gyms will be the third and fourth locations for Hotworx in the Dallas area.

May 21, 2018

Acquisitions Retail Texas

CBRE Brokers Sale of 67,334 SF Retail Property in Metro Houston

by Taylor Williams May 21, 2018

CYPRESS, TEXAS — CBRE has brokered the sale of a 67,334-square-foot retail property in Cypress, a northwestern suburb of Houston. The property is situated on 6.9 acres at 12220 Barker Cypress Road. Matthew Berry of CBRE represented the seller, Randall’s Food & Drugs LP, which operates out of the property. Williamsburg Acquisitions LLC purchased the property for an undisclosed price.

May 21, 2018

Newer Posts

Older Posts