Wednesday, August 5, 2026
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MidwestOffice

JOINT VENTURE BUYS CONTINENTAL TOWERS FOR $58.8M

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ROLLING MEADOWS, ILL. — A joint venture between GlenStar Properties and Walton Street Capital has closed on its purchase of Continental Towers, which includes three suburban office towers and a small retail property. The purchase price was $58.8 million, or about $65 per square foot, according to the CoStar Group. The four-building property at 1701 Golf Road in Rolling Meadows, located about 28 miles northwest of Chicago, totals 911,000 square feet and was approximately 40 percent vacant at the time of sale. The joint venture, which acquired the property from special servicer CWCapital, is planning an $8 million renovation, including an overhaul of the parking lot, landscaping and lobbies. Brian Nagle and Jerrod Wigal of Colliers International represented the seller in the transaction.

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MidwestRetail

RETAIL BUILDING OCCUPIED BY 7-ELEVEN IN CHICAGO SELLS FOR $1M

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CHICAGO — Marcus & Millichap has arranged the $1 million sale of a 3,200-square-foot, net-leased property occupied by 7-Eleven in Chicago. Stephen Rachman and Brian Parmacek, investment specialists in Marcus & Millichap’s Chicago O’Hare office, marketed the property on behalf of the seller, a developer. Adam Fortino and Ryan Engle, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, represented the buyer, a private investor. The property is located at 520 N. Halsted St. in the River West neighborhood of Chicago.

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MidwestOffice

CATHOLIC HEALTH PARTNERS SIGNS TWO LEASES IN CINCINNATI

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BLUE ASH, OHIO — Catholic Health Partners has signed two leases at 4600 McAuley Place, an office building in the Cincinnati suburb of Blue Ash. The locally based health system signed a five-year lease for 12,107 square feet and an 11-month lease for an additional 9,098 square feet. The leases total 21,205 square feet, taking up 90 percent of the building’s space. McAuley Place was built in 2001 and is located near I-71 and I-275. Chambers Street Properties recently acquired full ownership of the asset.

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MidwestRetail

RED ROBIN SIGNS FOUR LEASES IN ILLINOIS

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CHICAGO — Lee & Associates of Illinois LLC has represented gourmet burger chain Red Robin in four new leases in Illinois, two in northern Illinois and two in central Illinois. The restaurant signed a 5,710-square-foot lease in the Harlem Irving Plaza in Norridge, located about 15 miles northwest of Chicago. The second lease is for a 5,901-square-foot location at Oakbrook Center Mall in Oak Brook, a western suburb of Chicago. Fred Murray of Harlem Irving Cos. represented building ownership in the Norridge transaction and Randy Guse, formerly of General Growth Properties, represented building ownership in the Oakbrook transaction. Red Robin signed a third lease for a 4,001-square-foot building located at West Washington Street and Altorfer Lane in East Peoria. The final lease is a 5,735-square-foot building located at 2881 S. Veterans Parkway in Springfield. Kathleen Cullinan of Cullinan Properties represented the ownership in the East Peoria transaction and Mike Liyeos of Quattro Development represented building ownership in the Springfield transaction. Rick Scardino, director of retail brokerage for Lee & Associates, represented Red Robin in four transactions.

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MultifamilyNortheast

BEECH STREET ARRANGES $38M LOAN TO REFINANCE UNION

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NEW YORK CITY — Beech Street Capital has closed on a $38 million Freddie Mac CME loan to refinance The Union, a 95-unit apartment property in the Williamsburg section of Brooklyn. The property features amenities such as 24-hour doorman/concierge, swimming pool, rooftop terraces and a fitness center. Aaron Appel of Meridian Capital Group originated the loan on behalf of Beech Street. The loan carries a 10-year-term, 9.5 years of yield maintenance, and a 30-year amortization schedule.

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NortheastOffice

VISION EQUITIES SELLS 299 JEFFERSON ROAD

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PARSIPPANY, N.J. — Vision Equities LLC has sold its interest in a 150,500-square-foot Class A office property in Parsippany to Cole Corporate Income Trust Inc. for $32.4 million. The property is located at 299 Jefferson Road. Vision Equities will continue to provide asset/ property management for the building, which serves as a corporate headquarters for Evonik Degussa Co.

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MultifamilyNortheast

BROOKLYN DEVELOPMENT SITE SELLS FOR $11M

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NEW YORK CITY — Hudson Cos. has acquired a development site for a planned 23-story, 245-unit rental building at 626 Flatbush Ave. in Brooklyn for $11 million. Jonathan Berman, Shimon Shkury, Michael Tortorici and Victor Sozio of Ariel Property Advisors represented the seller, a private investor, as well as the buyer, Hudson Cos. The property features 100 feet of frontage on Flatbush Ave. and a 52,265-square-foot parking lot, which is located near the Prospect Park Zoo, Brooklyn Botanical Gardens and two blocks from the B, Q and S subway lines.

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NortheastRetail

MASSEY KNAKAL BROKERS SALE OF RETAIL BUILDING IN QUEENS

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NEW YORK CITY — Massey Knakal has arranged the sale of a 10,300-square-foot retail building at 78-02/10 Metropolitan Ave. in Queens for $2.9 million, or $285 per square foot. Thomas Donovan, partner with Massey Knakal, and director of sales Brian Sarath represented the buyer, a private investor. The seller was not disclosed. Massey Knakal specializes in the sale of investment and user properties in the New York metropolitan area.

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IndustrialTexas

NAI ROBERT LYNN ARRANGES SALE OF 787,591 SF DISTRIBUTION CENTER

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GRAPEVINE, TEXAS — Rick Medinis of NAI Robert Lynn’s Industrial Division partnered with CBRE to represent Prologis in the sale of its 787,591-square-foot Northfield Distribution Center to EastGroup Properties. The complex is located in Grapevine, 20 minutes outside of Dallas, and consists of eight buildings leased to 31 tenants. In the first quarter of 2013, NAI Robert Lynn arranged a 64,000-square-foot lease to Smart Start, 48,000 square feet to RIM Logistics and 16,000 square feet to Team Worldwide, all at the Northfield Distribution Center. The transactions totaled 128,000 square feet, bringing the property from 84 to 100 percent occupied. EastGroup has decided to keep Medinis as the leasing agent for the property, which Seefried Properties initially developed.

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