Office N Illinois First look: The Post Office unpackaged For over 20 years, it sat vacant and imposing, overlooking the westerly approach to Downtown Chicago. Now the Old Post Office is nearly ready to welcome its first office tenants to an adaptive reuse that has implications beyond the building’s footprint.
Industrial N Illinois Chicago industrial market charges ahead It seems developers can’t bring industrial supply to market fast enough. Despite the incredible amount of activity, the Chicago-area vacancy rate declined yet again in the third quarter.
Industrial V Michigan Industrial absorption in Detroit doubles amount of two previous quarters The Detroit industrial market is showing no signs of a slowdown, according to the latest research from CBRE.
Multifamily Midwest More evidence that the apartment boom is slowing? For the first time in two years, the average national apartment rent fell on a month-to-month basis, according to the September 2019 apartment rent report by RENTCafe.
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Finance v Wisconsin Berkadia provides $23 million of financing for Madison apartment development Berkadia provided $23.2 million in permanent financing for The Tuscany on Pleasant View, a multifamily property in Madison, Wisconsin. Senior director Paul Matusiak of Berkadia’s Chicago office secured the financing on behalf of The Gallina Companies, a local sponsor. The transaction closed on Sept. 26.
Industrial X Missouri NAI Hiffman closes sale-leaseback of Missouri manufacturing facilities NAI Hiffman completed a sale-leaseback transaction on behalf of Young Innovations, Inc., a global manufacturer and distributor of consumable dental supplies and equipment. The assets, which sold for $17.1 million, include the company’s 95,000-square-foot headquarters building at 2260 Wendt St. in Algonquin, Illinois, as well as the firm’s three manufacturing and distribution facilities totaling 117,400 square feet in Earth City, Missouri, a suburb of St. Louis.
Office V Michigan CBRE helps bring new coworking space to downtown Detroit CBRE recently represented BASCO in a 22,000-square-foot-lease to Venture X, a co-working provider, at 220 W. Congress in Detroit.
Retail W Minnesota KW Commercial sells 15,000-square-foot retail center in Minnesota KW Commercial closed the sale of Delux Retail Center at 24086 State Highway 15, a 15,310-square-foot neighborhood retail center in St. Augusta, Minnesota. This building is anchored by Snap Fitness and Delux Liquor.
Multifamily V Michigan Thomas Duke Company sells 159-unit apartment community in Michigan Adam Reid of the Thomas Duke Company closed the sale of West Gardens, a 159-unit multifamily development in Westland, Michigan. The project sold for $9.5 million.
Retail v Wisconsin Quantum sells busy retail strip center in Pleasant Prairie Quantum Real Estate Advisors has brokered the sale of a multi-tenant shopping center at 9740-9800 76th St. in Pleasant Prairie, Wisconsin.
Multifamily N Illinois Interra Realty brokers sale of multifamily property in West Suburban Chicago Interra Realty brokered the sale of 1917-23 S. Grove Avenue, a four-story, 34-unit building in Berwyn, Illinois, a western suburb of Chicago. Interra managing partner, Pat Kennelly, and director, Paul Waterloo, represented both the seller, Riverside-based Property Rental Inc., and the buyer, BAM 1917 Grove LLC, which plans to undertake a $1 million gut rehab of the building.
Industrial v Wisconsin Colliers brings industrial building in Wisconsin to full occupancy Mak Wood has renewed and expanded to 11,414 square feet of industrial space and MPI Coin has leased 8,533 square feet at 1235 Dakota Drive in Grafton, Wisconsin.
Office N Illinois Dinsmore & Shohl LLP moving to larger offices in Franklin Center The Chicago branch of Dinsmore & Shohl LLP has moved into its new office at 222 W. Adams Street, on the top floor of Tishman Speyer’s Franklin Center. Since opening in March of 2014, Dinsmore has grown its attorney roster in Chicago; the new space, custom-designed to fit the firm’s full-service offerings, is 150 percent larger than its previous home at the adjacent 227 W. Monroe Street.
CRE v Wisconsin Mid-America brokers close several transactions in Wisconsin Agents with Mid-America Real Estate – Wisconsin recently completed several transactions.