Property Type

Pre-Leasing for NorthShore 770 Mixed-Use Community Set for Aug. 1

by Jonathan Mehall July 29, 2015

NORTHBROOK, ILL. — Co-developers Morningside Group and Crossroads Development Partners have planned the pre-leasing of the luxury rental residences at NorthShore 770 for Aug. 1. The 347-unit luxury apartment community and 101,435-square-foot retail center features a Mariano’s grocery store at 770 Skokie Blvd. in Northbrook, 25 miles south of downtown Chicago. Other retailers and restaurants featured are Fuddruckers, Panera Bread, Kriser’s pet food, PNC Bank, and Chipotle. Renters at NorthShore 770 can choose from one-bedroom, one-bedroom plus study, two-bedroom and two-bedroom plus study plans measuring from 667 to 1,341 square feet. The building will also include 595 parking spaces for residents and their guests in a heated garage with a car wash and tire-fill station.

July 29, 2015

Indiana Midwest Retail

Brennan Investment Group Acquires Hillsdale Business Park In Indianapolis

by Jonathan Mehall July 29, 2015

INDIANAPOLIS — Brennan Investment Group LLC has acquired Hillsdale Business Park, a six-building business park comprising 445,892 square feet, in Indianapolis. Hillsdale Business Park is located at 7700 North Shadeland Ave. on the northeast side of Indianapolis at the intersection of I-465 and I-69, two main interstates that serve the Indianapolis metro area. The business park is within minutes of a number of restaurants, banks, and Castleton Square Regional Mall. Tenants of Hillsdale feature Community Hospital, Verizon Wireless, State Farm Insurance, Ingersoll Rand, Northeast Family Physicians and Pro Kids Inc. Originally developed by Duke Realty, Hillsdale Business Park is owned by Hillsdale Property Company and is leased and managed by Jones Lang LaSalle.

July 29, 2015

Multifamily Texas

Greysteel Arranges Sale of Apartment Complex in Metro Dallas

by Haisten Willis July 29, 2015

IRVING, TEXAS — Greysteel, a Washington, D.C.-based real estate investment services firm, has arranged the sale of Hacienda Serena, a 38-unit garden-style apartment community in Irving. Boyan Radic, Doug Banerjee, Andrew Mueller, and John Marshall Doss of Greysteel served as advisor and agent to Hacienda Serena LLC in the disposition of the multifamily community to I & J – DSI LLC. The recently renovated apartment complex is immediately accessible to public transportation and major commuter thoroughfares such as the Downtown Irving/Heritage Crossing Station of TRE and Highway 183.

July 29, 2015

Industrial Texas

Alliance Architects Completes Design for Industrial Project in Metro Dallas

by Haisten Willis July 29, 2015

FLOWER MOUND, TEXAS — Alliance Architects Inc. has completed a two-building speculative industrial project totaling 584,000 square feet in Flower Mound. Designed for Exeter Property Group, Building 1 comprises 231,754 square feet and Building 2 totals 351,832 square feet. F.A. Peinado provided construction services. The project is located within Lakeside Ranch, a 230-acre business consisting of more than 3 million square feet of primarily industrial space. Alliance Architects has designed multiple buildings in the park totaling nearly 2 million square feet. The master-planned development is located two miles from DFW Airport and features enhanced landscaping and a 30-acre natural area with walking trails. Alliance Architects’ team members include Chad Michel and Scott Franckowiak.

July 29, 2015

Industrial Midwest Missouri Mixed-Use

Wiegmann Associates Begins Construction at Aviator Business Park in Hazelwood, Mo.

by Jonathan Mehall July 29, 2015

HAZELWOOD, MO. — Wiegmann Associates has begun construction of an $800,000 tenant build-out at Aviator Business Park in Hazelwood, 17 miles northwest of St. Louis. Project details include installing a mechanical system infrastructure for the 535,000-square-foot space at Lot #7 that will house Silgan Plastics’ St. Louis production facility, a Weekends Only storage warehouse, and a shell warehouse. Wiegmann is also installing the HVAC system for a 75,000 square-foot shell warehouse at Lot #3. Construction is scheduled for completion in December 2015. The general contractor is Kadean Construction Company. Aviator Business Park is a 155-acre development located one mile north of Lambert-St. Louis International Airport on the site of the former Ford Hazelwood Assembly Plant. The business park houses commercial, industrial and warehousing tenants.

July 29, 2015

Healthcare Hospitality Texas

Ascension Group Architects Completes Behavioral Health Hospital in Metro Houston

by Haisten Willis July 29, 2015

KATY, TEXAS — Ascension Group Architects recently completed Oceans Behavioral Hospital Katy at 455 Park Grove Drive in Katy. The hospital opened to patients in the spring. The 48-bed, 34,274-square-foot behavioral health hospital provides care to adults 55 and older who require inpatient hospitalizations for psychiatric illnesses. The property is located just south of I-10 and Mason Road and is a joint venture between Dallas-based real estate investment and development company SRP Medical and Plano, Texas-based Oceans Healthcare. The property is Oceans’ seventh hospital in Texas and fourth in partnership with SRP. Dallas-based Rogers-O’Brien Construction was the general contractor.

July 29, 2015

Illinois Industrial Midwest Mixed-Use

Opus Group Completes Expansion of 44,000 SF Industrial Building in West Dundee, Ill.

by Jonathan Mehall July 29, 2015

WEST DUNDEE, ILL. — The Opus Group has completed the expansion of a 44,000- square-foot industrial and office facility for King Shan LLC in West Dundee, approximately 45 miles northwest of Chicago. The project was an expansion of King Shan’s existing 35,000-square-foot facility, which Opus constructed in 2010. The expansion more than doubles the company’s industrial space with an additional 42,500 square feet of warehouse space and 1,500 square feet of office space. Other features of the building include a 24-foot clear height, three dock doors and a large conference area. Construction on the building began fall 2014. King Shan manufactures steel wire and metal fabrication products. The company employs about 700 people worldwide.

July 29, 2015

Retail Texas

Baker Katz Acquires 4.5-Acre Retail Property in Metro Houston

by Haisten Willis July 29, 2015

ATASCOCITA, TEXAS — Houston-based Baker Katz has acquired a 4.5-acre property located near the cross streets of Farm to Market Road 1960 and West Lake Houston Parkway in Atascocita. The firm plans to renovate two existing buildings at the site totaling 33,000 square feet to update the architecture and attract new tenants. The buildings were originally constructed in 1984. Construction is slated to begin early next year. Jim Bayne with Investar Real Estate Services represented the seller in the transaction.

July 29, 2015

Loans Multifamily Texas

NorthMarq Arranges $18.2M Acquisition Financing for Alexan Trinity in Downtown Dallas

by Haisten Willis July 29, 2015

DALLAS — Jim Hoopes of NorthMarq Capital’s Minneapolis office and Stephen Whitehead of the firm’s Dallas office arranged $18.2 million in acquisition financing for Alexan Trinity, a 167-unit multifamily property located at 333 E. Greenbrier Lane in downtown Dallas. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The property features unobstructed views of downtown Dallas.

July 29, 2015

Illinois Midwest Retail

Principle Construction Corp. Completes Construction of Brewery in Hodgkins, Ill.

by Jonathan Mehall July 29, 2015

HODGKINS, ILL. — Principle Construction Corp. has completed construction on a 5,149-square-foot craft brewery for Blue Nose Brewery at 6119 East Ave. in Hodgkins, approximately 18 miles southwest of downtown Chicago. A new 12,320- square-foot multi-tenant retail building houses the brewery. Visitors to the brewery will be able to see fermenting kettles, mash tuns and hot liquor tanks from a 3,000-square-foot viewing room. Principle Construction broke ground on the brewery in April of 2014. Bear Real Estate owns the building and Ben’s Rental & Sales occupies the remaining portion of the building. Costs of the project were not disclosed.

July 29, 2015

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