Property Type

Sedgwick Properties Breaks Ground on 30-Unit Apartment Building in Chicago

by Christina Cannon November 13, 2015

CHICAGO — Sedgwick Properties has broken ground on a 30-unit luxury apartment building in Chicago’s Wicker Park neighborhood. The five-story building, located at 1545 W. North Ave., is slated for completion in spring 2016. The apartment building will offer one-, two- and three-bedroom units that will range from $1,900 to $4,000. Unit amenities include custom cabinetry, quartz countertops, tile backsplashes, washers and dryers and private balconies. Community amenities include valet dry cleaning service, bicycle storage and gated parking. The development will also include 2,600 square feet of retail space. The building will be located two blocks from the Kennedy Expressway and will be a short walk to the Chicago Transit Authority’s Blue Line. Sedgwick Properties will serve as the architect, designer, developer and general contractor for the project.

November 13, 2015

Illinois Midwest Mixed-Use

Mixed-Use Facility in Chicago Suburb Nears Full Occupancy

by Christina Cannon November 13, 2015

GLENVIEW, ILL. — Midtown Square, a mixed-use development in the northern Chicago suburb of Glenview, is 90 percent leased, according to High Street Residential, a subsidiary of Trammell Crow Co. Situated on 2.7 acres, Midtown Square opened in November 2014. The four-story building is comprised of 138 Class A luxury apartment units and approximately 9,000 square feet of retail space. CorePower Yoga opened for business in early 2015 and occupies 5,000 square feet of the ground-floor retail. The apartments are one- and two-bedroom units that feature balconies or patios, quartz countertops, 9-foot ceilings, gas ranges, washers and dryers, a breakfast bar and walk-in closets. Community amenities include a clubroom, wine room, dog wash station, business center, bicycle storage, heated garage parking, storage lockers and a 24-hour fitness center.

November 13, 2015

Midwest Office Wisconsin

Siegel-Gallagher Arranges Two Office Leases Totaling 8,989 SF in Wisconsin

by Christina Cannon November 13, 2015

MILWAUKEE AND GREENFIELD, WIS. — Siegel-Gallagher has arranged two office leases in Wisconsin in separate transactions. In the first transaction, Penrod Software leased 7,151 square feet at the Phoenix Building located at 219-239 N. Milwaukee St. in Milwaukee. Phoenix 219 Investments LLC is the landlord. Shaun Dempsey and Dan Walsh of Siegel-Gallagher brokered the transaction. In the second deal, 2YS & 1K LLC leased 1,838 square feet to Thrivent Financial at Forest Green Executive Center I. The office building is located at 8555 W. Forest Home Ave. in Greenfield. Shaun Dempsey brokered the deal.

November 13, 2015

Industrial Market Reports Multifamily Office Retail Texas Texas Market Reports

Growing Pains — The History, Revitalization and Relocation to Austin’s CBD

by Haisten Willis November 13, 2015

Operating as our state’s political core and as the “live music capital of the world”, Austin’s real estate market is as distinctive as the people that make this city great. Austin is a one-of-a-kind place that’s unique to Texas and the entire country. It defies stereotypes with its progressive and fiercely entrepreneurial spirit, and continually gets top marks for its quality of life, pro-business culture and pro-environment views. WalletHub recently ranked Austin as the 2015 best large city to live in and the data matches up — the city ranks second among 2015’s fastest-growing cities in the U.S., according to Forbes, behind Houston and ahead of Dallas-Fort Worth. In the era of ‘Walker, Texas Ranger,’ Emmitt Smith and ‘the Dream Team,’ and the release of ‘Dazed and Confused,’ the tech boom of the 1990s drove the Austin office market. During that same time, Austin’s total population increased 35 percent and close to 1,750 companies employed over 110,000 people in technology-related jobs in Austin. By the end of the 90s, Texas’ capital city was widely known as Silicon Hills, home to a critical mass of institutional technology knowledge and major tenants like Dell, IBM, Motorola and other software and gaming companies. …

November 13, 2015

Florida Loans Retail Southeast

Grandbridge Arranges $4.6M Loan for Grocery-Anchored Center in Florida

by John Nelson November 13, 2015

SEMINOLE, FLA. — Grandbridge Real Estate Capital has closed a $4.6 million loan secured by a Winn Dixie-anchored shopping center in Seminole. Bill Mattice and Phillip Cox of Grandbridge’s Greenville, S.C., office arranged the 10-year, interest-only loan through an unnamed CMBS lender. According to Mattice, the unnamed borrower was using a 1031 exchange as the equity to acquire the shopping center.

November 13, 2015

Arizona Retail Western

VEREIT Sells $204M Red Lobster Pool, Enters Partnership to Sell Additional $400M

by Nellie Day November 13, 2015

PHOENIX — Phoenix-based VEREIT Inc. has sold a $204 million pool of Red Lobster properties to San Francisco-based Golden Gate Capital. Additionally, the two companies have entered into a strategic partnership where VEREIT will opportunistically divest an additional $400 million of properties by executing single- or multi-unit dispositions at accretive valuations. The Red Lobster restaurants that are part of this transaction will continue to operate without change or disruption.

November 13, 2015

California Retail Western

CBRE Negotiates $15.7M Sale of Retail Building in Buena Park

by Nellie Day November 13, 2015

BUENA PARK, CALIF. — CBRE Group has brokered the sale of a retail building, located at 8030 Dale St. in Buena Park. Oshdale LLC acquired the 44,100-square-foot property from Village Properties for $15.7 million. Orchard Supply Hardware recently signed a 20-year, triple-net lease for the property and plans to open later this year. Dan Riley, Arthur Flores and Austin Wolitarsky of CBRE represented the seller and buyer in the transaction. Barclay Harty, also of CBRE, was the leasing agent at the time of sale.

November 13, 2015

California Loans Mixed-Use Western

PCCP Provides Construction Loan for Residential, Retail Development

by Nellie Day November 13, 2015

FREMONT, CALIF. — PCCP has provided a senior construction loan to a joint venture between BHV CenterStreet Properties and JD Capital for the development of Artist Walk at 37070-3722 Fremont Blvd. Situated on 6.24 acres in the Centerville District of Fremont, the infill mixed-use project will feature 185 apartments and 28,641 square feet of ground-floor retail space. Plans for the development include three- and four-story buildings with surface parking, as well as continuous street-facing retail across three separate buildings along Fremont Boulevard with a mix of 12 to 17 restaurants and retailers. The apartment units will feature one- and two-bedroom layouts with nine-foot ceilings, washer/dryer, private balconies and upgraded finishes. On-site amenities will include a pool, clubhouse and business center.

November 13, 2015

California Multifamily Restaurant Retail Western

The Grove to Open Location at One Henry Adams Apartment Community

by Nellie Day November 13, 2015

SAN FRANCISCO — The Grove has signed a lease for 3,650 square feet of space at One Henry Adams, an apartment community located on Townsend Circle in Showplace Square in San Francisco. One Henry Adams and the new restaurant location are slated to open in the fourth quarter of 2016. Owned by Equity Residential, the 241-unit apartment community offers 8,600 square feet of retail space.

November 13, 2015

Hospitality Nevada Western

Starwood Hotels Partners with SLS to Bring W Hotel to the Las Vegas Strip

by Nellie Day November 12, 2015

LAS VEGAS — The owner of the SLS Las Vegas has partnered with Starwood Hotels & Resorts Worldwide to open the first W Hotel in Las Vegas. The hotel will occupy an existing 289-room tower that is currently operated under the SLS LUX brand. The new W Hotel is scheduled to open in the third quarter of 2016. The SLS Las Vegas will also become part of Starwood’s Tribute Portfolio, as part of the agreement. The hotel will include a dedicated entry and reception area for W Hotel guests, an Away Spa, and an outdoor pool and bar known as WET. It will also feature the signature W Living Room, which is the brand’s unique take on the traditional hotel lobby. Starwood will manage W Las Vegas, while Kreeger will continue to manage the remainder of the SLS property. The SLS Las Vegas is owned by Las Vegas Resort Holdings LLC. SLS Las Vegas will join Starwood’s four existing hotels in the market, including the Westin Las Vegas Hotel, Casino & Spa, the Westin Lake Las Vegas Resort & Spa, Four Points by Sheraton Las Vegas East Flamingo and Element Las Vegas Summerlin.

November 12, 2015

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