Property Type

Landings-on-Two-Mile-Kalispell-MT

KALISPELL, MONT. — Gantry has secured a $10.5 million permanent loan to retire construction debt from the development of the second phase for The Landings on Two Mile, an apartment community in Kalispell. Located at 110, 112, 114 and 118 Teton St., the second phase features 72 one-, two- and three-bedroom floor plans. Demetri Koston of Gantry’s Spokane, Wash., office represented the borrower, a private real estate investor, in the financing. The 12-year, fixed-rate loan was secured from an agency lender with an upfront interest-only period transitioning to 30-year amortization. In 2021, Gantry provided a $16.4 million permanent loan for the property’s 108-unit first phase.

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NEW YORK CITY — Sciame Construction LLC has signed a 37,206-square-foot office lease renewal in Lower Manhattan. The locally based firm will continue to occupy the entire 20th floor of 14 Wall Street, a building that was originally constructed in 1910 for the Bankers Trust Co., for the next 20 years. Bradley Gerla, Jon Cope, Mike Rizzo and Masha Dudelzak of CBRE represented the landlord in the lease negotiations. Adam Foster, Matt Bergey, Chris Mansfield and Ryan Luck, also with CBRE, represented the tenant.

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AURORA, ILL. — Core Industrial Realty has arranged the sale of a 356,000-square-foot industrial property located at 2200 Sullivan Road in Aurora. The speculative building was developed by Panattoni in 2022 and was 75 percent leased at the time of sale. There are two tenants with leases totaling 260,000 square feet. Total consideration for the project, inclusive of both lease transactions and the sale of the building, exceeded $70 million. Noel Liston and Nick Krejci of Core brokered the sale. The buyer, Ares Management Corp., has retained Core as the leasing agent for the property.

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COLLINSVILLE, ILL. — Contegra Construction Co. has completed Eastport Commerce Center, a 75,000-square-foot office and distribution center in Collinsville, a northeast suburb of St. Louis. BHMG Engineers has leased 25,000 square feet at the property. The space replaces BHMG’s existing 5,000-square-foot office at 1902 Vandalia St. in Collinsville. The building features a clear height of 28 feet, four dock doors, three drive-in doors and 160 parking spaces.

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KANSAS CITY, MO. — Revitalization Unlimited, a fund dedicated to preserving historically significant U.S. real estate and legacy industrial businesses, has unveiled plans to invest $3.2 million in the renovation of The Garment House, an historic office building in downtown Kansas City. Revitalization Unlimited is collaborating with property owner 10 Broadway LLC and Haith & Co. Inc. Revitalization Unlimited has committed $3.2 million to the restoration, with an additional $3 to $4 million allocated for renovations. Plans include modern upgrades and the creation of a diverse tenant mix featuring restaurants, bars, catering spaces and entertainment venues. Targeted rents are projected at $20 per square foot, with $1 million in tenant improvement allowances available for qualifying tenants.

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NASHVILLE, TENN. — JLL has arranged the $300 million refinancing for Omni Nashville Hotel, an 800-room upscale hotel located at 250 Rep. John Lewis Way S in downtown Nashville. Built in 2013, the 21-story hotel features more than 80,000 square feet of meeting space, including a 23,800-square-foot ballroom. The LEED Silver-certified property also features several dining options, including Bob’s Steak & Chop House, Kitchen Notes and Barlines, as well as a spa, rooftop pool and modern fitness center. Kevin Davis, Whit Johnson, Jim Curtin, Mike Huth, Shalin Patel, Luke Rogers and Nick Warta of JLL arranged the seven-year, fixed-rate loan through a domestic insurance company and AllianceBernstein Commercial Real Estate Debt in its capacity as advisor to Equitable Financial Life Insurance Co. The borrower is TRT Holdings Inc., a Dallas-based investment company that owns the Omni Hotels brand.

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BENSENVILLE, ILL. — Krusinski Construction Co. has completed an industrial redevelopment project for developer Dayton Street Partners in the Chicago suburb of Bensenville. Krusinski revitalized an existing building by completing selective demolition and enhancing the space with a more efficient layout. The original facility was converted into a 33,000-square-foot terminal with 37 newly installed dock doors and an attached 2,000-square-foot, two-story office. The interior refresh included new bathrooms, flooring, paint and mechanical, electrical and plumbing upgrades. Krusinski also completed upgrades to the storm systems, installed new concrete aprons and performed select paving improvements. The project team included Space Co and A+M Architects.   

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DECATUR, IND. — Block & Co. Inc. Realtors has brokered the sale of a 30,300-square-foot retail center in Decatur, about 20 miles southeast of Fort Wayne. The sales price was undisclosed. The Rural King-anchored property is located at the northwest quadrant of Nuttman Avenue and 13th Street. David Block and Phil Peck of Block & Co. represented the undisclosed seller, and the asset sold to a local buyer. The transaction marks the final sale in a 13-property shopping center portfolio, which was comprised of primarily Walmart Supercenter or Rural King-anchored properties in six Midwest states. Block & Co. was also the management and leasing company for all 13 shopping centers.

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PRINCE GEORGE, VA. — Lingerfelt has formed a joint venture with SCOA Real Estate Partners, a wholly owned subsidiary of Sumitomo Corp., for the development of a 347,760-square-foot industrial facility in Prince George. Situated at the confluence of I-295, I-95 and Route 460 on Richmond’s south side, the development is dubbed TriPoint Distribution Center. The project broke ground last September and is set for completion this August. The joint venture has selected CBRE to lease and market the development, which ARCO is constructing on behalf of ownership.

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ORLANDO AND TAMPA, FLA. — Dalfen Industrial has purchased two fully leased industrial facilities in Orlando and Tampa totaling 67,420 square feet. The properties include a 35,100-square-foot facility at Orlando Central Park and a 32,320-square-foot property within Pinebrooke Business Park in east Tampa. Colliers’ industrial capital markets team represented Dalfen in the transaction. The seller and sales price were not disclosed. Dalfen plans to “significantly” expand its presence in the Florida market over the next 12 months, according to the Dallas-based firm.

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