Property Type

Ryan Cos. Breaks Ground on 18,000 SF Facility for Children’s Hospital of Wisconsin

by Christina Cannon November 18, 2015

BROOKFIELD, WIS. — Ryan Companies US Inc. has broken ground on a new facility for Children’s Hospital of Wisconsin in Brookfield, a western suburb of Milwaukee. The new facility will serve as a primary care building and will be located within the Underwood Crossing retail center. The retail center is located on Bluemound Road and is anchored by Target. The Children’s Hospital of Wisconsin Pediatric Consultants Primary Care Clinic will be renamed Bluemound Pediatrics when it relocates to the new facility, which is 1.5 miles west of its current location. Construction is slated for completion in the spring of 2016. The development will be an 18,000-square-foot freestanding building that will be adjacent to Target at the east end of the 175,000-square-foot shopping center. Stephen Perry Smith Architects and ScopeBridge are the architects of record for the project. Johnson Bank provided financing for the development.

November 18, 2015

Industrial Michigan Midwest

Signature Associates Arranges 32,686 SF Industrial Lease in Detroit Suburb

by Christina Cannon November 18, 2015

TROY, MICH. — Signature Associates has arranged a 32,686-square-foot lease of high-tech industrial space in Troy, a northern suburb of Detroit. SGS North America Inc. is leasing the space located at 894 Maplelawn Drive from Troy Industrial LLC. John Boyd and Paul Hoge of Signature Associates represented the landlord in the transaction. Anthony Leeds of Signature Associates and Ben Brenner of Cushman & Wakefield represented the tenant.

November 18, 2015

Midwest Missouri Mixed-Use

Streets of St. Charles Mixed-Use Development in Missouri Signs New Tenants

by Christina Cannon November 18, 2015

ST. CHARLES, MO. — Streets of St. Charles has added new tenants to its mixed-use development that is still partially under construction in St. Charles, a northwestern suburb of St. Louis. MOD, a fashion boutique, will open its fourth location at the retail center and will occupy 1,200 square feet. The location is scheduled to open in the spring of 2016. Supercuts also plans to open a new store at the Streets of St. Charles. Supercuts will occupy 1,171 square feet and will open in early 2016. The Streets of St. Charles is a 27-acre community that offers retail, dining, entertainment, hospitality, residential and office components. Prior to MOD and Supercuts signing a lease, PF Changs, Pieology and Noodles & Co. inked deals and those spaces are also currently under construction.

November 18, 2015

Colorado Multifamily Student Housing Western

UniversityParent Launches Certification to Connect Student Housing Companies with Parents

by Nellie Day November 18, 2015

BOULDER, COLO. — UniversityParent has launched Best for Parents, a certification tool created to help parents determine which student housing options meet their priorities, and to allow businesses providing student housing to express their value to these stakeholders in housing decisions. Best for Parents certification takes into account the aspects of housing that matter most to parents, such as safety, convenience, student-friendly features, and professional, accessible management and maintenance. Along with providing financial input, parents are a source of support and advice to students. The Best for Parents certification allows parents to make well-informed suggestions regarding their student’s housing. Housing facilities that earn the Best for Parents label receive a parent page on the UniversityParent site outlining the housing company’s answers to the top parent questions, recognition as a Best for Parents facility in the UniversityParent directory, and a plaque and window cling for display.

November 18, 2015

Market Reports Multifamily Northeast Northeast Market Reports Pennsylvania

Philadelphia’s Apartment Market Remains Bright

by Jaime Lackey November 18, 2015

Philadelphia’s apartment market remains bright as increasing employment fosters stable economic growth, which in turn is bolstering apartment operations. Employers in the metro, which is known as the center of economic activity in Pennsylvania, will increase hiring 1.2 percent this year, adding 35,000 jobs. In 2014, new jobs increased 1.6 percent and the unemployment rate decreased 130 basis points. Total employment is on the upswing, recovering nearly all of the jobs lost during the recession. The favorable employment conditions are supporting demand for apartments and swiftly improving performance throughout the metro, prompting developers to start new multifamily projects. Builders in Philadelphia are focusing their attention in Center City, which includes the central business district and central neighborhoods of Philadelphia, where nearly 25 percent of this year’s deliveries will be placed into service. Developers are on track to complete 3,600 units in 2015, increasing total apartment inventory 1.4 percent. Last year 2,400 rentals were delivered. Part of the reason that demand is especially strong in Philadelphia can be attributed to the increasing popularity of living in the urban core among young professionals and baby boomers. The lack of developable in-fill locations in the area is prompting developers to convert office buildings …

November 18, 2015

California Loans Retail Western

Thorofare Capital Funds $7.7M Loan for Acquisition of LA Retail Property

by Nellie Day November 17, 2015

LOS ANGELES — Thorofare Capital has provided a $7.7 million bridge loan to a partnership between Cadence Capital Investments and Oakwood Real Estate Partners for the off-market acquisition of a retail property located near The Grove on Beverly Boulevard in Los Angeles. The non-recourse, one-year, interest-only loan features a fixed rate. The borrower plans to reposition the 12,500-square-foot property, which was 56 percent leased at the time of closing.

November 17, 2015

California Retail Western

Marcus & Millichap Arranges $4.1M Sale of Retail Property in San Leandro

by Nellie Day November 17, 2015

SAN LEANDRO, CALIF. — Marcus & Millichap has brokered the sale of a retail property located at E. 14th St. in San Leandro. A limited liability company bought the 22,520-square-foot property, which is occupied by CVS/pharmacy, for $4.1 million. Fabio Sangiorgi of Marcus & Millichap’s Palo Alto office represented the buyer in the transaction. The name of the seller was not released.

November 17, 2015

Nevada Retail Western

Conn’s Opens 100th Store in Las Vegas

by Nellie Day November 17, 2015

NORTH LAS VEGAS, NEV. — Conn’s Inc., a Houston-based furniture and specialty home goods retailer, has opened its 100th store. The new, 52,000-square-foot centennial Conn’s HomePlus store is located in North Las Vegas. The company is on schedule to open between 15 and 18 stores in its current fiscal year, which ends on Jan. 31. Conn’s plans to open as many as 25 stores in its 2017 fiscal year. Conn’s is a furniture and specialty retailer currently operating 100 retail locations in 12 states: Arizona, Colorado, Georgia, Louisiana, Mississippi, Nevada, New Mexico, North Carolina, Oklahoma, South Carolina, Tennessee and Texas.

November 17, 2015

Retail Washington Western

Amazon Opens First Bookstore in Seattle

by Nellie Day November 17, 2015

SEATTLE — Online retail giant Amazon has opened its first brick-and-mortar bookstore, Amazon Books, at University Village in north Seattle. The store opens 20 years after Amazon began selling books — severely discounted compared to traditional retailers — over the Internet. The 5,500-square-foot store, which offers as many as 6,000 titles and an additional 2,000 square feet of storage, is a physical extension of the company website, combining the benefits of online pricing with traditional book shopping, the company told the Associated Press in a statement. Inside the store, shoppers will find book displays that contain cards with ratings and reviews. Shoppers can buy the book now, or save the review card and purchase the book online later. The store will not be a location to pick up Amazon orders. While the store will showcase Amazon’s Kindle e-readers, Fire tablets and Fire TV streaming-media devices, it will focus first on being a bookstore. All books will face outward, displaying their entire covers rather than only the spines showing.

November 17, 2015

California Retail Western

Ross Appoints President & Chief Merchandising Officer of dd’s Discounts

by Nellie Day November 17, 2015

DUBLIN, CALIF. — Ross Stores, Inc. has appointed Brian Morrow as president and chief merchandising officer of dd’s Discounts, effective Dec. 7. Morrow will report directly to Barbara Rentler, the company’s CEO, and be responsible for directing all aspects of merchandising at dd’s Discounts. Morrow has more than 30 years of merchandising management experience including roles with Macy’s West, Mervyn’s, Macy’s North/Marshall Field’s and May Company. Most recently, he served as president and chief merchandising officer for Stein Mart Inc.

November 17, 2015

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