MARYSVILLE, OHIO — The Opus Group has broken ground on a 250,829-square-foot speculative industrial building in the Columbus suburb of Marysville. The project marks the only spec industrial development getting underway in central Ohio moving into the first quarter of 2025, according to Opus. Named 33 Commerce Center, the property is designed for manufacturing and light assembly uses. The building will offer four storefronts, each with clerestory glass entries. Additional building features include a 3,870-square-foot office space, clear height of 32 feet, interior and exterior LED lighting, 155 vehicle parking spaces, 24 equipped docks, four drive-in dock doors and room for future trailer parking. The development is part of 33 Innovation Park, which features a new utility infrastructure with high-capacity fiber optics. Completion is slated for August 2025. Opus is the developer, design-builder and architect of record for the project. AST Engineering is the structural engineer. Mike Spencer and Todd Spencer of Lee & Associates are marketing the project for lease.
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INDIANAPOLIS — Colliers has negotiated the sale of a two-building industrial portfolio totaling 245,000 square feet in the Southwest submarket of Indianapolis for an undisclosed price. The fully leased properties, located at 4316 W. Minnesota St. and 4750 Kentucky Ave., are home to wholesale industrial packaging company BASCO as well as logistics and warehousing providers Golden Tiger Transportation and Kid Glove Service. Alex Cantu and Alex Davenport of Colliers represented the seller, Clarion Partners. New York-based Diamond Properties was the buyer.
NAPERVILLE, ILL. — KeHE Distributors LLC has renewed and expanded its lease at Naperville Corporate Center in the Chicago suburb of Naperville. The wholesale food distributor’s lease now totals 91,102 square feet after an expansion of 17,000 square feet. Joe Stevens and Steve Degodny of Transwestern Real Estate Services (TRS) represented building ownership, Real Capital Solutions. KeHE will occupy the entirety of the building at 1245 Diehl Road.
VIRGINIA, MINN. — Kraus-Anderson has begun construction of a new $33 million public safety facility located at 1004 2nd St. S. in Virginia, a city in northeast Minnesota. Designed by Wold Architects and Engineers, the 50,000-square-foot project features a new fire station, police station and EMS facility, along with 13 dormitories, training spaces and parking lots. The new building also features a training tower, fitness center, day room, kitchen and dining room. Completion is slated for July 2025.
CHICAGO — Interra Realty has brokered the $3.4 million sale of an eight-unit apartment building located at 2501 N. Southport Ave. in Chicago’s Lincoln Park neighborhood. Originally constructed in 1907 as a funeral home, the property was redeveloped by the seller. There are four two-bedroom units and four three-bedroom layouts as well as nine onsite parking spaces. The asset was fully occupied at the time of sale. Brad Feldman of Interra represented the private local buyer. Joe Smazal, Colin O’Malley and Mark Dykstra of Interra represented the confidential seller. O’Malley had previously assisted the seller in its acquisition of the property in 2018.
WEST ORANGE, N.J. — BNE Real Estate has completed a project in West Orange, about 20 miles west of New York City, that converted a 400,000-square-foot office campus into a 423-unit apartment community. Known as Stonehill at West Orange and designed by Minno & Wasko Architects & Planners, the development features one- and two-bedroom units and 44,000 square feet of amenity space. The project also preserved 130,000 square feet of recently renovated office space that is now home to the West Orange Public Library. Rents start at approximately $2,300 per month for a one-bedroom apartment.
BOSTON — Charlotte-based commercial lender Barings has provided a $115 million loan for the refinancing of the 471-room Renaissance Boston Seaport Hotel. Built in 2008 and set to be renovated next year, the hotel offers amenities such as 21,000 square feet of meeting and event space, a 10,700-square-foot ballroom, club lounge, recently renovated fitness center, an indoor pool and several food-and-beverage outlets. Eastdil Secured arranged the loan on behalf of the borrower, a joint venture between affiliates of Rockpoint, Highgate and hotelAVE.
MANCHESTER, N.H. — Regional brokerage firm Horvath & Tremblay has arranged the $11.6 million sale of North End Shops at Livingston Park, a shopping center in Manchester, located near the New Hampshire-Massachusetts border. The property was built on 4.4 acres in 1987 and renovated in 2017. Dollar Tree anchors the center, which was fully leased at the time of sale. Bob Horvath, Todd Tremblay, Aaron Huntley and Matt Nadler of Horvath & Tremblay represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NORTH BERGEN, N.J. — Marcus & Millichap has brokered the $6.4 million sale of an 18,130-square-foot retail strip center in North Bergen, located just outside of New York City. Known as Aaron’s Strip Center due to the furniture and electronics retailer serving as the anchor, the property was fully leased to six tenants at the time of sale. Alan Cafiero, Brent Hyldahl and Devin Perez of Marcus & Millichap represented the seller and procured the buyer, a local private investor, in the transaction. Both parties requested anonymity.
TOTOWA, N.J. — Wise Foods has signed a 61,000-square-foot industrial lease in the Northern New Jersey community of Totowa. The Pennsylvania-based snack maker is taking space at 70 Maltese Drive, an 84,000-square-foot building that features a clear height of 16 feet, 10 loading docks and two drive-in doors. Andrew Stypa, Daniel Badenhausen and Kyle Janoczkin of Lee & Associates represented the tenant in the lease negotiations. Cushman & Wakefield represented the landlord, Boston-based Longpoint.