BRISTOL, TENN. — KeyBank Real Estate Capital has arranged a $27 million CMBS first mortgage for Pinnacle at Bristol, a 217,846-square-foot lifestyle retail center located in Bristol. The property’s tenant roster includes Belk, Dick’s Sporting Goods, Marshalls and Bed Bath & Beyond. The center is shadow-anchored by Bass Pro Shop. Scott Bois and Ken Broussard of KeyBank arranged the non-recourse financing.
KNOXVILLE, TENN. — SRS Real Estate Partners’ Southeast investment sales team has brokered the $15.3 million sale of Windsor Square, a 299,329-square-foot shopping center located at 101-245 N. Seven Oaks Drive in Knoxville. The property’s anchors include Burlington Coat Factory, Big Lots and Old Time Pottery. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller in the transaction.
NASHVILLE, TENN. — Colliers International has arranged an 18,569-square-foot office lease at Gulch Crossing, an office building located at 1033 Demonbreun St. in Nashville. Vickie Saito of Colliers represented the tenant, Industrious NSH Gulch Crossing LLC, in the lease transaction. Industrious is a Chicago-based company that develops working environments with features such as glass-walled offices, coffee bars and relaxation rooms. Industrious has offices in several cities and at each location leases space as a locally established limited liability company. The company has previously developed office space for high-profile tenants such as Pinterest and Instacart. The company plans to be operational at Gulch Crossing by spring 2016.
DETROIT — The Henry Ford Health System has begun planning a new $110 million cancer center as part of its $500 million expansion and improvement of 300 acres in Detroit. The 144,000-square-foot cancer center will be five stories and include a rooftop garden and skywalk to connect it to Henry Ford Hospital. Completion is slated for summer 2018. Site planning for the facility will be completed by the end of the year. Groundbreaking is slated for spring of 2016. The cancer center will anchor Henry Ford Hospital’s South Campus expansion project. The 10- to 15-year vision for the expansion project includes adding green space and commercial, retail and housing developments. Clinical and support services for each type of cancer diagnosis will be located on the same floor in the new facility, offering a multidisciplinary experience to patients. Surgery will continue to be performed at Henry Ford Hospital. The facility will be funded by internal and philanthropic support.
INDIANAPOLIS — Cushman & Wakefield / Summit Realty Group has arranged the sale of an 113,546-square-foot office portfolio located at 8935 – 9011 N. Meridian St. in Indianapolis. Keystone Realty Group sold Waterplace Park to Evergreen Investment Corp. Alex Cantu and Alison Melton of Cushman & Wakefield represented the seller. The property was developed in 1980 and is currently 69 percent leased. Tenants of Waterplace Park include Mid America Clinical Laboratories, Omnisource and GoldPoint Clinical Research.
DETROIT — Lear Corp. has acquired a historic six-story, 35,000-square-foot building located at 119 State St. in Detroit from Bedrock Real Estate Services for an undisclosed price. Lear Corp. has plans to turn the building in Capitol Park into an innovation and design center described as a “think tank.” The building was constructed in 1887 and originally housed Brown Brothers Cigar Manufacturers. Construction will begin soon, and the project is slated for completion in 2016.
GLENVIEW AND NAPERVILLE, Ill. — Lee & Associates has arranged 24,253 square feet of leases in Illinois. Andersen Corp. renewed their lease for 21,847 square feet of industrial space at 2300 Ridge Drive in Glenview, approximately 20 miles northwest of Chicago. Michael Plumb of Lee & Associates represented the landlord who is a private investor. Cushman & Wakefield represented Anderson Corp. Naperville Family Chiropractic has leased 2,406 square feet of retail space in a strip mall that is located at 3027 English Rows Ave. in Naperville, about 20 miles outside of Chicago. Joe Herron of Lee & Associates represented the tenant. Caton Commercial Real Estate represented the landlord.
LAKEVIEW, ILL. — Centrum Partners LLC has broken ground on a five-story, 36-unit apartment building, Centrum Lakeview, located at 3400 N. Lincoln Ave. in Lakeview, a Chicago suburb. The project is slated for completion in 2016, and the 40,000-square-foot building will offer one- and two-bedroom apartments ranging from 535 to 1,036 square feet. Unit amenities include floor-to-ceiling windows, modern kitchens and upgraded bathrooms. Community amenities include a fitness room, billiard room, secure bike storage, same-day dry cleaning and package storage. The complex will have 6,000 square feet of retail space on the first floor. The property is located adjacent to the ‘L’ Brown Line stop at Paulina. All building materials have been sourced locally, and Centrum has plans to add a green roof, electric car charging station and a recycling program. Centrum acquired the property from KF Lakeview LLC in 2014. The building was vacant at the time of sale. Centrum Lakeview is one of the first developments approved under the city’s 2013-revised TOD (Transit Oriented Development) ordinance.
NEW YORK CITY — Megalith Capital Management and Urban Realty Partners have launched sales for 200 Water Street, a six-story boutique residential building in Brooklyn’s historic DUMBO neighborhood. The property includes 15 gallery-style condominiums featuring two, three or four bedrooms with expansive windows and up to 14-foot high ceilings. Converted from a former 1950s Brillo steel wool factory, 200 Water was designed by Gil Even-Tsur’s Architecture Workshop and Aufgang Architects. The building’s penthouse feature roof decks, terraces and floor-to-ceilings windows. On-site amenities include a fitness center, landscaped garden, bike storage and a doorman.
NEW BEDFORD, MASS. — Fantini & Gorga has arranged $13.5 million in permanent financing for Riverbank Lofts, a former mill that was converted to an apartment property in New Bedford. Situated on 6.5 acres, the three-story property features 126 units in a mix of one-, two- and three-bedroom layouts, a 160-vehicle garage, a fitness center and a common room. The units feature high ceilings, exposed wide plank hardwood floors and stainless steel appliances. Derek Coulombe and Jason Cunnane of Fantini & Gorga secured the financing for the undisclosed borrower.
