WILMINGTON, DEL. — Capital & Guarantee is developing Fenwick Medical Complex, a six-building facility in Wilmington. When complete, the property will feature 120,000 square feet of space, ample parking and a heliport. Anchored by a full-service emergency medical center, the complex will be occupied by various medical specialists and physicians, including cardiovascular, family practice, gastroenterology, gynecology, podiatry, internal medicine, psychology, spinal care and vein care offices. Physician and office space is available as build-to-suit units regardless of size or floor plans.
NORWELL, MASS. — NorthMarq Capital has arranged $2.4 million in refinancing for Longwater Circle, an office property located in Norwell. The commercial mortgage transaction features a long-term fixed rate for more than 10 years with a 30-year amortization and a flexible prepayment schedule. Michael Chase of NorthMarq secured the financing through a regional bank for the undisclosed borrower.
EVANSTON, ILL. — Developer and investment firm Janko Group LLC has opened the Hyatt House Chicago/Evanston, a 114-room, extended-stay hotel in downtown Evanston, approximately 20 miles north of Chicago. Janko Hospitality LLC will manage the eight-story hotel located at 1515 Chicago Ave. Amenities at the property include an indoor and outdoor lounge, a restaurant and bar, 1,300 square feet of meeting space, a fitness center, business center, laundry facility, free Wi-Fi and complimentary breakfast. Des Plaines, Ill.-based Peak Construction Corp. was the design/build firm for the project, and Chicago-based SCB Architecture served as the architect of record.
NORTH KANSAS CITY, MO. — Tutera Senior Living & Health Care will break ground this week on the $65 million Tiffany Springs Senior Community, a continuing care retirement community (CCRC) in North Kansas City, located just across the Missouri River from Kansas City proper. The 14-acre luxury community will feature more than 300 units of independent living, assisted living, memory care and rehabilitation in 300,000 square feet of buildings. Design company studioSIX5 is providing interior design services. Builders for the community include Nearing Staats Prelogar & Jones Architects of Prairie Village, Kan.; Lutjen Inc. of North Kansas City; and Luke Draily Construction Co. of Riverside, Mo. Based in Kansas City, Tutera Senior Living & Healthcare is a developer and operator of 47 seniors housing communities in 13 states throughout the Midwest, Southeast, Oklahoma and Texas.
CHICAGO — Summit Design + Build has broken ground on a 36-unit boutique apartment building in Chicago’s River West neighborhood. The six-story building, located at 851 W. Grand Ave., will offer a mix of studio, one- and two-bedroom units. The property will also feature 18 parking spaces and is slated for completion by mid-2017. FitzGerald Associates Architects is the design firm of record, and Chicago-based Monroe Residential Partners is the developer.
SIDNEY, OHIO — NorthMarq Capital has arranged a $2 million acquisition loan for a 72-unit apartment property in Sidney, approximately 30 miles north of Dayton. Northwood Village Apartments, which is located at 2345 Collins Drive, was built in 1971. The financing features a 10-year term and 20-year amortization schedule. Noah Juran of NorthMarq Capital placed the loan with a regional bank.
MILWAUKEE — Siegel-Gallagher has arranged a 6,214-square-foot office lease in Milwaukee. kW Mission Critical Engineering will occupy space at the building located at 173 N. Broadway St. Marianne Burish of Siegel-Gallagher brokered the transaction. 173 Broadway LLC is the landlord.
DALLAS — McCarthy Building Cos. will build Southwest Airlines’ new office and training facility on the company’s corporate campus in Dallas. The new building, called “Wings,” consists of a 414,000-square-foot office building and an attached 367,000-square-foot flight training center, which will house 18 flight simulator bays, associated offices and ancillary areas. The project is valued at more than $150 million, according to the Dallas Morning News. The training portion of the structure will be constructed out of a special hardened building that can withstand 210-mile winds as it must remain operational every day of the year in all weather conditions. Also included in the project is a 1,900-car parking garage and surface parking that will provide for a total of 2,500 cars, as well as additional site work and construction of pedestrian bridges. Southwest’s corporate campus is adjacent to Love Field Airport. BOKA Powell is the project architect and Pacheco Koch is the landscape architect/civil engineer. Reed Wells Benson is the mechanical and electrical engineer and L.A. Fuess Partners and Ponce-Fuess are providing structural engineer services on the project. The project will commence in June and is expected to be completed in early 2018.
HOUSTON — American Bureau of Shipping (ABS) has signed a long-term lease in CityPlace 2, becoming the latest major employer to move its global headquarters to Springwoods Village. CityPlace is a 60-acre mixed-use development that will include 4 million square feet of Class A office space, 400,000 square feet of retail space, a full-service hotel and additional luxury multifamily projects when fully developed. ABS, a provider of classification services to the marine and offshore industries, will occupy the entire office component of the new 10-story, 326,800-square-foot CityPlace 2, which will begin construction in early 2017. Scheduled for completion in late 2018, CityPlace 2 will also include 23,700 square feet of ground-floor retail. Tim Relyea and Kevin Snodgrass of Cushman & Wakefield represented ABS, while Chrissy Wilson of JLL and Dennis Tarro of Patrinely Group represented the landlord.
DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap serving institutional and private real estate investors, has arranged the sale of The Legacy at Preston Hollow, a nonprofit seniors housing facility featuring 45 assisted living beds and 113 skilled nursing beds. Built in 2000, The Legacy at Preston Hollow is located about 10 miles north of downtown Dallas, and 1.4 miles from 668-bed Medical City Dallas Hospital. Mark Myers, Joshua Jandris, Charles Hilding and Ryan Fleming of IPA, along with Kelsie Vogds of Marcus & Millichap, represented the seller. Myers, Jandris, Hilding and Fleming also procured the buyer.