Lewis Retail Centers to Build 169,590 SF Town Center at The Preserve in Chino, California

CHINO, CALIF. — Lewis Retail Centers has unveiled plans to build Town Center at The Preserve in Chino, a city in Southern California. The retail and office development, which will span 169,590 square feet, is slated to open in summer 2023. Town Center at The Preserve will be situated within a master-planned community named The Preserve at Chino and adjacent to multifamily units. The pedestrian-friendly development will feature Main Street-oriented retail space, as well as open spaces for …

August 10, 2022California, Development, Retail, Top Stories, Western

EQT Exeter Purchases 3.8 MSF Industrial Portfolio in Wisconsin, Illinois

PLEASANT PRAIRIE, WIS. AND NORTH CHICAGO, ILL. — EQT Exeter, a global industrial and residential investment firm, has purchased an eight-property industrial portfolio in Wisconsin and Illinois totaling 3.8 million square feet. CenterPoint Properties, a warehouse and distribution center investor and developer based in Oak Brook, Ill., and an unnamed investment partner sold the portfolio to EQT Exeter. John Huguenard and Kurt Sarbaugh of JLL represented CenterPoint in the transaction. The …

August 9, 2022Acquisitions, Illinois, Industrial, Midwest, Top Stories, Wisconsin

Trinitas Ventures, Crawford Hoying Begin $250M Phase II of Mixed-Use Project in Cincinnati

CINCINNATI — A partnership between two regional developers, Indiana-based Trinitas Ventures and Ohio-based Crawford Hoying, has started construction of the $250 million second phase of The District at Clifton Heights, a mixed-use project in Cincinnati. The District at Clifton Heights is located across the street from the University of Cincinnati at the site of the former Deaconess Hospital. The first phase of the project centered on construction of The Deacon, an eight-story, 351-bed …

August 8, 2022Development, Midwest, Mixed-Use, Ohio, Top Stories

Apollo Global Management Receives $388.4M Financing for The Brook Mixed-Use Project in Brooklyn

NEW YORK CITY — Walker & Dunlop Inc.'s New York capital markets team has arranged $388.4 million in construction financing for the Brook, a mixed-use development in downtown Brooklyn consisting of 448,000 rentable square feet of multifamily and retail space. Bank of America provided the funds. Apollo Commercial Real Estate Finance Inc., which is managed by an affiliate of Apollo Global Management, and Witkoff are developing the property at the cross-section of Fulton Street, …

August 5, 2022Affordable Housing, Development, Loans, Mixed-Use, Multifamily, New York, Northeast, Retail, Top Stories

Breakthrough Properties Begins Construction of One Canal Life Sciences Property in East Cambridge, Massachusetts

CAMBRIDGE, MASS. — Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has begun construction of One Canal by Breakthrough, a life sciences development project in Cambridge, about two miles from downtown Boston. The property is located on the city’s First Street Corridor overlooking Canal Park and the Charles River in the East Cambridge neighborhood and is adjacent to CambridgeSide – a gated regional mall that is being redeveloped and includes 650,000 …

August 4, 2022Development, Life Sciences, Massachusetts, Northeast, Top Stories

Silver Creek Receives Funding for Mixed-Use Redevelopment of 8850 Sunset Boulevard in West Hollywood

WEST HOLLYWOOD, CALIF. — Silver Creek Development has received funding for the redevelopment of 8850 Sunset Boulevard, which is located on the Sunset Strip in West Hollywood. Cottonwood Group provided a $62 million loan for the project. Currently a retail strip center and home to the legendary Viper Room music venue, the property is going through re-entitlement and will be transformed into a mixed-use project. Plans call for a redesigned music venue and recording studio, multiple eateries, …

August 3, 2022Affordable Housing, California, Development, Hospitality, Mixed-Use, Multifamily, Restaurant, Retail, Top Stories, Western

Newmark Arranges $514M Construction Loan for BioMed Realty’s Life Sciences Tower in Somerville, Massachusetts

SOMERVILLE, MASS. — Newmark has arranged $514 million in construction financing for Phase I of Assembly Innovation Park, a life sciences tower spanning 485,000 square feet in the Boston suburb of Somerville. BioMed Realty, a San Diego-based subsidiary of Blackstone that focuses on life sciences real estate, is developing the 12-story tower and accompanying parking garage. The tower will be situated at the intersection of Middlesex Avenue and Foley Street, with visibility along I-93. …

August 2, 2022Development, Life Sciences, Massachusetts, Northeast, Top Stories

JLL Arranges $585M Construction Loan for Allston LabWorks Project in Boston

BOSTON — JLL has arranged a $585 million construction loan for Allston LabWorks, a 580,905-square-foot life sciences, retail and multifamily project in the Allston neighborhood of Boston. The borrower and developer is a joint venture between Boston-based King Street Properties, Brookfield and Mugar Enterprises. Allston LabWorks will feature 534,000 square feet of lab space, 20,000 square feet of retail space and 35 multifamily units, about 25 percent of which will be reserved as affordable …

August 1, 2022Development, Life Sciences, Loans, Massachusetts, Northeast, Top Stories

Bitzero to Redevelop Cold War-Era Missile Defense Site in North Dakota into Secure Data Center for $500M

NEKOMA, N.D. — Bitzero Blockchain Inc. has agreed to acquire the Stanley R. Mickelsen Safeguard Complex (SRMSC) in Nekoma, a tiny city of fewer than 50 residents approximately 130 miles south of Winnipeg, Canada. The Cavalier County Job Development Authority (CCJDA) is selling the property to Bitzero, which plans to redevelop the asset into a highly secure data center. The project costs, including the acquisition, are estimated at $500 million. Commonly referred to as “The Pyramid,” …

July 29, 2022Acquisitions, Data Centers, Development, Industrial, Midwest, North Dakota, Top Stories

Google to Acquire James R. Thompson Center in Chicago’s Central Loop Following Renovation

CHICAGO — Google has announced plans to acquire the James R. Thompson Center, an iconic office building located at 100 W. Randolph St. in Chicago’s Central Loop, following renovations. The 1.2 million-square-foot property occupies a full city block. Google plans to begin moving into the building in 2026. The 17-story Thompson Center is the only building in the city of Chicago where six L Train lines converge, connecting to Chicago’s South, West and North sides — a key point of …

July 28, 2022Acquisitions, Illinois, Midwest, Office, Top Stories

Lewis Retail Centers to Build 169,590 SF Town Center at The Preserve in Chino, California

EQT Exeter Purchases 3.8 MSF Industrial Portfolio in Wisconsin, Illinois

Trinitas Ventures, Crawford Hoying Begin $250M Phase II of Mixed-Use Project in Cincinnati

Apollo Global Management Receives $388.4M Financing for The Brook Mixed-Use Project in Brooklyn

Breakthrough Properties Begins Construction of One Canal Life Sciences Property in East Cambridge, Massachusetts

Silver Creek Receives Funding for Mixed-Use Redevelopment of 8850 Sunset Boulevard in West Hollywood

Newmark Arranges $514M Construction Loan for BioMed Realty’s Life Sciences Tower in Somerville, Massachusetts

JLL Arranges $585M Construction Loan for Allston LabWorks Project in Boston

Bitzero to Redevelop Cold War-Era Missile Defense Site in North Dakota into Secure Data Center for $500M

Google to Acquire James R. Thompson Center in Chicago’s Central Loop Following Renovation

Recent Features

Lee & Associates’ Second-Quarter 2022 Economic Rundown by Sector

Yardi Matrix Report: Institutions Will Own 40 Percent of All Single-Family Rentals by 2030

How to Design, Develop Mixed-Use Projects for the ‘Live-Work-Play’ Consumer

The Cost of Creature Comforts: What Multifamily Amenities Are Renters Most Willing to Pay For?

Proptech Improves Employee, Asset Performance While Giving Residents the Autonomy They Demand

Recent Market Reports

The Great CRE Resignation: What Texas Companies Need to Know

Memphis Economic Outlook Provides Cause for Optimism for Multifamily Market

New Jersey Tax Court Supports Taxpayers’ Rights

Portland’s Office Market Continues its Evolution

Real Estate Momentum Continues in 2022 in Cedar Rapids

Read the Digital Editions