Property Type

Phase-1-99-Central-Logistics-Center-Tulare-CA

Outrigger Industrial Completes First Building at 99 Central Logistics Center in Tulare, California

by Amy Works January 30, 2025

TULARE, CALIF. — Outrigger Industrial has completed Phase I of 99 Central Logistics Center in Tulare with the construction of a 544,077-square-foot building at 199 E. Paige Ave. At full build-out, the 160-acre business park will feature four buildings offering a total of 2.4 million square feet. The Phase I building includes a clear height of 36 feet, 56-foot by 50-foot column spacing, speculative offices and trailer parking. Additionally, the facility can accommodate a 550,000-square-foot expansion. 99 Central Logistics Center is Outrigger Industrial’s first development in California’s Central Valley region, which provides easy access to major highways, ports and airports.

January 30, 2025

Acquisitions California Hospitality Western

Marcus & Millichap Brokers Sale of 60-Room Black Forest Lodge in Big Bear Lake, California

by Amy Works January 30, 2025

BIG BEAR LAKE, CALIF. — Marcus & Millichap has arranged the sale of Black Forest Lodge, a hotel located at 41121 Big Bear Blvd. in Big Bear Lake. Terms of the transaction were not released. Christian Apt, Allan Miller, Chris Gomes and Skyler Cooper of the Miller-Gomes Hotel team at Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal. Mario Alvarez of Marcus & Millichap assisted with the transaction, while Tony Solomon of Marcus & Millichap served as the firm’s broker of record in California. Spanning 2.9 acres, Black Forest Lodge features 60 rooms, 2,300 square feet of retail space, a heated pool, spa, sports courts and RV parking. The property has been family-owned since 1976.

January 30, 2025

Acquisitions Industrial Massachusetts Northeast

JLL Brokers Sale of 198,720 SF Distribution Center in Taunton, Massachusetts

by Taylor Williams January 30, 2025

TAUNTON, MASS. — JLL has brokered the sale of a 198,720-square-foot distribution center in Taunton, located near the Massachusetts-Rhode Island border. Built in 2014, facility at 151 Charles F. Colton Road features a clear height of 28 feet, 30 loading docks, 23 trailer parking spaces and ESFR sprinkler system. Michael Restivo and David Coffman of JLL represented the seller, a fund managed by Brookfield Asset Management, in the transaction. An Ares Management Real Estate fund acquired the property, which was fully leased at the time of sale to a tire and automotive services company, for an undisclosed price.

January 30, 2025

Acquisitions Illinois Midwest Office

Glenstar, Private Investor Acquire 200 South Wacker Office Tower in Chicago, Plan $30M Renovation

by Kristin Harlow January 30, 2025

CHICAGO — Glenstar and a high-net-worth private investor have acquired 200 South Wacker, a 40-story office tower in Chicago’s West Loop. According to Crain’s Chicago Business, the duo bought a non-performing $151 million loan backed by the property from lender Bank of China and simultaneously took control of the building from Toronto-based owner Manulife Financial via a deed-in-lieu of foreclosure. The news outlet also reports that the purchase price was close to $68 million. Designed by Harry Weese Associates and constructed in 1981, the building totals 761,775 square feet. Glenstar has taken over as the building’s asset and property manager, and The Telos Group will serve as the leasing agent. Glenstar and its equity partner are allocating approximately $30 million to build fully furnished move-in ready spec suites, modernize common areas, enhance amenities and fund other capital improvements. Current amenities include a rooftop deck, tenant lounge, conference center, fitness facility and a Mojo Coffee shop in the lobby.

January 30, 2025

Development Midwest Missouri Multifamily

Subtext Begins Development of 259-Unit Apartment Complex in Suburban St. Louis

by Kristin Harlow January 30, 2025

UNIVERSITY CITY, MO. — Subtext has begun development of LOCAL on Delmar, a 259-unit apartment complex in the St. Louis suburb of University City. Completion of the five-story project, located at 6650 Delmar Blvd., is slated for summer 2026. The 398,225-square-foot building will feature a mix of studio, one-, two- and three-bedroom layouts, including townhomes that walk out onto Delmar Boulevard. There will also be 399 parking spaces in a five-story garage and approximately 7,100 square feet of street-level retail space. Amenities will include a clubroom, vinyl listening station, work-from-home hub, wellness suite, gym, yoga studio, pool terrace and grilling area. Situated in the Loop, the project site is located within a 12-minute walk from Washington University. Project partners include Brinkmann Constructors, ESG Architecture & Design, Larson Capital Management, Stock and Associates Consulting Engineers Inc. and First Mid Bank & Trust.

January 30, 2025

Illinois Leasing Activity Midwest Office

Colliers Negotiates 35,000 SF Headquarters Lease for Arjo at Bell Works Chicagoland

by Kristin Harlow January 30, 2025

HOFFMAN ESTATES, ILL. — Colliers has negotiated a 35,000-square-foot headquarters lease for Arjo North America, a supplier of medical devices, at Bell Works Chicagoland in Hoffman Estates. Arjo will relocate from 62,000 square feet at 2349 W. Lake St. in Addison when it moves in the fourth quarter. David Burden, Tom Beraducci and Andy Gooliak of Colliers represented the tenant, while Darryl Silverman and Steve Kling of Colliers represented ownership. Bell Works Chicagoland is the redevelopment of the former AT&T headquarters property, which totals 1.6 million square feet and was built in 1990. AT&T vacated the asset in 2016.

January 30, 2025

Leasing Activity Midwest Missouri Restaurant Retail

Tacos 4 Life to Open at Element Hotel in Midtown St. Louis in February

by Kristin Harlow January 30, 2025

ST. LOUIS — Tacos 4 Life is slated to open its new location at the Element Hotel at 3763 Forest Park Ave. in Midtown St. Louis on Tuesday, Feb. 11. St. Louis-based hotel development firm Midas Hospitality owns the property. The Midtown Tacos 4 Life marks the third franchise to open in the region, with other locations in Ballwin and O’Fallon, Mo. The retail space at Element Hotel is now fully leased. The 153-room extended-stay hotel opened in 2020. Midas Hospitality will own and operate the Tacos 4 Life Midtown franchise, which is located in a 4,200-square-foot space. Founded in Arkansas in 2014, Tacos 4 Life is a fast-casual taco restaurant with 29 locations. For every meal purchased, the restaurant donates a meal to a child in need through its Meal 4 Meal program.

January 30, 2025

Illinois Industrial Leasing Activity Lee & Associates Midwest

FlashCo Manufacturing Signs 20,987 SF Industrial Lease in Elmhurst, Illinois

by Kristin Harlow January 30, 2025

ELMHURST, ILL. — FlashCo Manufacturing Inc., a manufacturer of roof flashings and accessories, has signed a 20,987-square-foot industrial lease at 849 N. Church Court in the Chicago suburb of Elmhurst. The institutionally owned and managed building in DuPage County is located less than one mile from access to I-290 and I-294 via Lake Street and Route 83. Chris Nelson of Lee & Associates of Illinois represented the tenant, while Al Caruana of Cushman & Wakefield represented the owner, TA Realty.

January 30, 2025

Acquisitions Multifamily Northeast Pennsylvania

SCOPE Negotiates $11.8M Sale of Lehigh Valley Apartment Building

by Taylor Williams January 30, 2025

WHITEHALL, PA. — Philadelphia-based brokerage firm SCOPE Commercial Real Estate has negotiated the $11.8 million sale of Aspen Apartments, an 80-unit multifamily building located in the Lehigh Valley city of Whitehall. The three-story building offers one-, two- and three-bedroom units that range in size from 1,080 to 1,600 square feet. The undisclosed buyer purchased the asset via a 1031 exchange following its disposition of two multifamily assets totaling 52 units in nearby Allentown. Zeke Rotter led the SCOPE team led that handled those sales as well as the purchase of Aspen Apartments.

January 30, 2025

Leasing Activity Massachusetts Northeast Retail

Dick’s Sporting Goods to Open ‘House of Sport’ Store in Peabody, Massachusetts

by Taylor Williams January 30, 2025

PEABODY, MASS. — Dick’s Sporting Goods will open a store at Northshore Mall in Peabody, located north of Boston, that will be operated under the Pittsburgh-based retailer’s ‘House of Sport’ brand. The square footage was not disclosed. Nordstrom currently occupies the space. Simon Property Group owns Northshore Mall, which is home to about 140 specialty stores, dining and entertainment venues and recently underwent a multimillion-dollar repositioning. The opening is scheduled for summer 2026.

January 30, 2025

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