Property Type

CRG, Gramercy Property Trust Break Ground on 432,000 SF Build-to-Suit Warehouse in Greenville

by John Nelson April 20, 2017

GREENVILLE, S.C. — CRG and Gramery Property Trust have broken ground on a 432,000-square-foot build-to-suit warehouse in Greenville for Bausch + Lomb, a manufacturer of eye care products including contact lenses and eye implants. Bausch + Lamb currently operates a manufacturing facility four miles from the new development, which is expandable up to an additional 432,000 square feet. The facility will include 38-foot clear heights, an ESFR sprinkler system, 42 loading docks, one drive-in door, 101 trailer spaces and 94 automobile parking spaces. The design team includes design-build firm Clayco Inc. and architect Forum Studio. Bausch + Lomb is expected to take occupancy beginning in October.

April 20, 2017

Retail Southeast Tennessee

Madame Tussauds Opens First In-Mall Wax Museum Ever at Opry Mills in Nashville

by John Nelson April 20, 2017

NASHVILLE, TENN. — Madame Tussauds has opened its first ever in-mall wax museum at Opry Mills, a Simon Property Group-owned mall in Nashville. The attraction, which focuses on music icons such as Johnny Cash, Elvis Presley and Taylor Swift, is the seventh location in the United States for Madame Tussauds and its 22nd property globally. Leisure firm Merlin Entertainments plc owns and operates Madame Tussauds. In addition to the new wax museum at Opry Mills, Simon plans to unveil Bavarian Bierhaus, a 15,000-square-foot German restaurant and beer hall, as well as performance apparel retailers Champs, Asics and New Balance. In mid-May, Distillers of Smith Creek Moonshine will open a moonshine tasting and cocktail bar at Opry Mills.

April 20, 2017

Georgia Seniors Housing Southeast Tennessee

Dominion Partners to Open Two Somerby Seniors Housing Communities in the Southeast

by John Nelson April 20, 2017

SANDY SPRINGS, GA. AND FRANKLIN, TENN. — On the heels of opening seniors housing community Somerby Sandy Springs in the Atlanta suburb of Sandy Springs, Dominion Partners also plans to open Somerby Franklin in the Nashville suburb of Franklin within the next two months. Somerby Sandy Springs includes 128 independent living units, 48 assisted living units and 24 memory care units on a six-acre plot. Details were not released on the Franklin property. Based in Birmingham, Ala., Dominion Partners is a developer and owner of seniors housing properties. Somerby, an operator, is a wholly owned subsidiary of Dominion. The companies own and operate a portfolio of eight communities in Alabama, South Carolina, Georgia, Florida and Tennessee.

April 20, 2017

Illinois Midwest Multifamily

Luxury Apartment Tower Opens on Chicago’s North Side

by Kristin Harlow April 20, 2017

CHICAGO — Ascend Real Estate Group and Intercontinental Real Estate Corp. have opened Niche 905, a 202-unit luxury apartment tower in Chicago’s Near North Side. The 18-story property is located at 905 N. Orleans St. A grand opening celebration took place on April 13. The tower features convertible, one-, two- and three-bedroom apartments ranging in size from 576 to 1,518 square feet. Rents start at $2,000. CORT Furniture furnished the convertible studio model, while Stanton Interior Concepts designed the one- and two-bedroom models. Amenities include 24-hour concierge service, pool, skydeck, grilling stations, fitness center, yoga studio and entertainment suite. Niche 905 also features 1,750 square feet of ground-floor retail space and a lobby with workstations.

April 20, 2017

Michigan Midwest Office

Colliers to Lease The Centennial Office Building in Troy, Michigan

by Kristin Harlow April 20, 2017

TROY, MICH. — Colliers International will handle leasing at The Centennial, a prominent office property in the Troy skyline. The 306,000-square-foot, 15-story building is located at 100 E. Big Beaver Road. The ownership has made numerous upgrades to the building systems and elevators, and has initiated a multimillion-dollar upgrade of the common areas. Amenities include a new conference center, building deli, tenant lounge, and co-working facility. The common area amenities will be available for tenants of the building as well as to rent for members of the community. Tenant spaces available for lease range from 2,500 to 175,000 square feet. Gary Grochowski and Bryan Barnas of Colliers will oversee the leasing.

April 20, 2017

Illinois Midwest Office

First Western Properties Brokers $4.7M Sale of Office Building in Lisle, Illinois

by Kristin Harlow April 20, 2017

LISLE, ILL. — First Western Properties Inc. has brokered the sale of 2 Woodland Corporate Center in Lisle, about 25 miles west of Chicago, for $4.7 million. The 56,000-square-foot office building is located at 4951 Indiana Ave. The property is 100 percent leased to two investment-grade tenants. Bradford Dessy of First Western Properties represented the out-of-state buyer. Jason St. John of Greenstone Partners represented the undisclosed seller.

April 20, 2017

Industrial Midwest Ohio

Marcus & Millichap Negotiates Sale of 10,000 SF Industrial Property in Blacklick, Ohio

by Kristin Harlow April 20, 2017

BLACKLICK, OHIO — Marcus & Millichap has negotiated the sale of a 10,000-square-foot industrial property net leased to Sunbelt Rentals in Blacklick, about 14 miles east of Columbus. The facility sits on 3.8 acres at North Reynoldsburg New Albany Road. The building was constructed as a build-to-suit for Sunbelt, an equipment rental company with over 550 locations in North America. David Houston, Patrick Doherty and Scott A. Ryan of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured the buyer, an out-of-state private partnership. Michael Glass acted as the broker of record in closing the transaction.

April 20, 2017

Industrial Midwest Ohio

NAI Spring Arranges 8,000 SF Industrial Lease in Canton, Ohio

by Kristin Harlow April 20, 2017

CANTON, OHIO — NAI Spring has arranged an 8,000-square-foot industrial lease for Pretec Directional Drillings in Canton. The facility will serve as the Ohio location for the Eau Claire, Wis.-based company’s pipeline drilling functions. The facility is located at 1808 Kimball Road Southeast. Bryce Custer of NAI Spring represented both the tenant and undisclosed landlord in the lease transaction.

April 20, 2017

Loans New York Northeast Retail

CBRE Secures $68M Financing for Retail Development in Chappaqua, N.Y.

by Haisten Willis April 20, 2017

CHAPPAQUA, N.Y. — Jeffrey Dunne, Kyle Juszczyszyn and David Gavin of CBRE have secured $68 million in financing for the development of Chappaqua Crossing in Chappaqua. Dunne, Juszczyszyn and Gavin represented The Grossman Co. and Summit Development in arranging the loan for the planned 120,000-square-foot retail center. The team was responsible for procuring the 90 percent institutional joint venture equity partner in addition to securing the new construction financing of $44 million with M&T Bank. Whole Foods will anchor Chappaqua Crossing, which will sit on a 19.1-acre site inside a 114-acre mixed-use development. Other tenants will include Life Time Fitness, Pet Valu, Chase Bank, AT&T and GoHealth Urgent Care.

April 20, 2017

New Hampshire Northeast Retail

Inland Real Estate Income Trust Acquires Pentucket Shopping Center in Plaistow, N.H.

by Haisten Willis April 20, 2017

PLAISTOW, N.H. — Inland Real Estate Income Trust has acquired the 199,335-square-foot Pentucket Shopping Center in Plaistow. The property is located one mile north of the Massachusetts state border and about 40 miles north of Boston. Mark Cosenza of Inland Real Estate Acquisitions facilitated the purchase of the property on behalf of Inland Real Estate Income Trust. Originally constructed in 1986 and remodeled in 2004, Pentucket Shopping Center is located at 58 Plaistow Road. The property was 98 percent leased as of the acquisition date. Tenants at the center include The Home Depot, Staples, Bed Bath & Beyond, Hallmark, Sally Beauty Supply, Sport Clips and Santander Bank.

April 20, 2017

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