CASTLETON PARK, IND. — Colorado-based Aurora Bank has relocated its Indianapolis call center to 33,000 square feet of space at 5920 Castleway W. Dr. in Castleton Park. The bank previously occupied 25,000 square feet at Heritage Park II in Indianapolis. Jones Lang LaSalle’s Dan O’Neil, John Robinson and Julie Kilpatrick provided occupancy planning, tenant representation and construction management services for the bank. Dave Moore of Colliers Turley Martin Tucker represented the ownership, BREOF Castleton Park LLC, in the transaction. Additional terms of the lease were not released.
PARK RIDGE, ILL. — Park Ridge-based Newcastle Properties has acquired a portfolio of CVS/pharmacy stores for approximately $30 million. The portfolio contains nine stores located in six states. They include: 542 Providence Rd. in Brooklyn, Conn.; 6202 Commerce Palms St. in Tampa, Fla.; 301 S. Sixth Ave. in Wauchula, Fla.; 4700 Piedmont Pkwy. in Greensboro, N.C.; 2902 Forestville Rd. in Raleigh, N.C.; 4 Hall St. in Concord, N.H.; 885 Central Ave. in Albany, N.Y.; 1571 Forest Ave. in Staten Island, N.Y.; and 1402 E. Lake Mead Pkwy. in Henderson Nev. The stores in the portfolio range in size from 12,900 to 13,225 square feet, and all of them are located on sites ranging from 1.21 to 2.98 acres. All are subject to 25-year, triple-net lease agreements. Newcastle acquired the portfolio on behalf of SVC Equity Partners LLC, one of its investment affiliates. Representation for Newcastle was provided by Jeffrey Gurian of Highland Park, Ill.-based Becker & Gurian. The seller was not disclosed. Newcastle's affiliates now own and operate approximately 3 million square feet of commercial real estate in 20 states. — Coleman Wood
CHICAGO — Newcastle has acquired a 17,514-square-foot retail building, which is located at 801 West Diversey in Chicago’s Lincoln Park neighborhood, for $10 million. The single-story structure is 81 percent leased to a tenant roster that includes Dunkin Donuts, Back to Bed and Performance Bicycle Shop. It also includes 32 parking spaces. David Stone of Stone Real Estate represented Newcastle, as well as the undisclosed seller.
LAFAYETTE, IND. — Castle Coch Development is set to break ground for the construction of a 150,000-square-foot industrial building located at 3701 Dave Howarth Dr. in the Park 350 industrial park in Lafayette. The building, which can be subdivided for up to four tenants, features 28-foot clear ceiling heights, dock-height, flow-thru loading, trailer and car parking spaces, an ESFR sprinkler system and office areas. The approximately $15 million project is also expandable up to 300,000 square feet. The project is being developed by Castle Coch, with JRA Architecture providing design services and Shiel Sexton Co. serving as general contractor. Completion is scheduled for October.
CHICAGO — Chicago-based Newcastle has brokered the sale of a surface parking lot owned by the YMCA of Metropolitan Chicago, as well as an adjacent four-story retail apartment building located at the corner of Chicago Avenue and State Street in Chicago, for $40 million. The building was sold by a third party and contains a retail component. The properties were acquired by Loyola University, which plans to use the combined 61,470-square-foot site for future expansion. Newcastle represented all parties in the transaction.
CHICAGO — Chicago-based Newcastle has brokered the sale of a surface parking lot owned by the YMCA of Metropolitan Chicago, as well as an adjacent four-story retail apartment building located at the corner of Chicago Avenue and State Street in Chicago, for $40 million. The building was sold by a third party and contains a retail component. The properties were acquired by Loyola University, which plans to use the combined 61,470-square-foot site for future expansion. Newcastle represented all parties in the transaction.
CHICAGO — Newcastle Ltd. has acquired Belle Plaine Plaza Shopping Center, a 16,000-square-foot retail property located at 4066 N. Milwaukee Ave. in Chicago, for $3.3 million. The center features two single-story retail buildings, which are fully occupied by Dollar Tree, Subway and AthletiCo Physical Therapy. Newcastle acquired the property from Midwest Real Estate Equities on behalf of the firm’s $500 million Chicago investment platform. Midwest was represented in the transaction by Tyler Quast of Zifkin Realty & Development.
CHICAGO — Chicago-based Newcastle Ltd. has acquired the historic Belmont House, a 269-unit apartment tower located at 3170 N. Sheridan Rd. in the Lakeview neighborhood of Chicago, for $56 million. The 13-story, 315,000-square-foot building also contains 9,000 square feet of retail. The property was acquired by Newcastle from Wexenthaller Realty Management on behalf of the firm’s $500 million Chicago investment platform. The Belmont acquisition was part of an 896-unit, seven-property portfolio purchase from Wexenthaller; the other six buildings should close in the next 30 days. Newcastle was represented by The Kiser Group.
CHICAGO — Chicago-based Newcastle Ltd. has acquired a three-story multifamily building, located at 2200 N. Clark St. in the Lincoln Park neighborhood of Chicago, for $8 million. The 29,546-square-foot building features 28 loft-style apartments and six commercial spaces. The property was acquired by Newcastle on behalf of the firm’s $500 million investment platform. Kiser Group represented the undisclosed seller.
NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of an 83-unit apartment building in the Westchester Square area of The Bronx. The six-story, elevator-served building at 1776 Castle Hill Ave. was constructed in 1936 and houses 15 studios, 54 one-bedroom units, 13 two-bedroom apartments and one three-bedroom residence. Benjamin Myerow, Seth Glasser and Michael Fusco of Marcus & Millichap represented the seller, a local family, and procured the buyer, a 1031 exchange investor, in the transaction. Both parties requested anonymity.