CRE N Illinois For the first half of 2019, cap rates remained stable Thanks to moderate growth, low inflation and falling long-term interest rates, cap rates for commercial real estate assets held steady in the first half of 2019. In Chicago, two sectors have a favorable outlook as they came in below the national average.
Office Q Kentucky Meditation gardens and dog runs: Office amenities matter Does your office have a Zen garden? How about an onsite health clinic? If you work in the center of Louisville, you might already be enjoying these perks.
Office N Illinois Doing WELL at 500 feet In June 2019, 151 North Franklin became the nation’s first WELL-certified Core & Shell v1 Gold high-rise. Unlike LEED which focuses on reducing a building’s environmental footprint, WELL takes a hard look at improving occupant health and wellness with continued, verified performance. As stewards of their indoor and outdoor environment, 151 North Franklin pursued both LEED Gold and WELL Gold certification.
CRE N Illinois Midwest Commercial Hall of Fame: JLL’s Jaime Fink Each year, Midwest Real Estate News highlights the careers of the top CRE pros in the region in our Midwest Commercial Real Estate Hall of Fame isssue. This year, we are running these profiles online, too. Here’s a look, then, at the Hall of Fame career of Jaime Fink, senior managing director and co-leader of the office group at the Chicago office of HFF, which is now merging with JLL.
Join us September 6, 2019 5th Annual Detroit Commercial Real Estate Summit The Westin Southfield Detroit1500 Town CenterSouthfield, MI More Information & Registration
Industrial N Illinois Bartlett approves incentive package for McKesson Medical-Surgical The board of trustees for the Village of Bartlett, Illinois has approved the final piece of an incentive package that will bring McKesson Medical-Surgical Inc. (MMS) to the Brewster Creek Business Park. The distributor of medical supplies, durable medical equipment, surgical supplies and medical lab supplies is a division of Fortune 500 company McKesson Corporation.
Multifamily V Michigan CBRE closes sale of 33 acres near Grand Rapids CBRE recently represented Granger Group in the sale of 33.4 acres at 5650 Wilson Ave. SW in Wyoming, Michigan. The sale represents the first of two multifamily phases within the Reserve Development Opportunity, a 150-acre community master-planned by Granger Group.
Industrial P Kansas Colliers sells 29,000-square-foot industrial property in Kansas AIRB1, LLC sold a 29,072-square-foot industrial building at 14915 W. 106th St. in Lenexa, Kansas, to JR Haight, LLC.
Industrial N Illinois Venture One acquires Des Plaines industrial portfolio Venture One Real Estate—through its acquisition fund, VK Industrial IV, LP, a partnership between Venture One and Kovitz Investment Group—has closed on the acquisition of a 171,022-square-foot, two-building industrial portfolio located at 76 Bradrock Drive and 31 E Oakton Street in Des Plaines, Illinois. Both properties were vacant at acquisition.
Hospitality X Missouri Marcus & Millichap sells Comfort Inn in Missouri Marcus & Millichap closed the sale of Comfort Inn, a 89-room hospitality property in Festus, Missouri. The asset sold for $3.65 million.
Office N Illinois Morgan / Harbour begins HQ expansion in Oak Brook for Hub Group Morgan / Harbour Construction has broken ground on a new, 135,000-square-foot, four-story office build-to-suit for Hub Group. The new building, located on Clearwater Drive in Oak Brook, Illinois, is the second phase of construction for the supply chain solutions provider’s headquarters. Solomon Cordwell Buenz is providing the architectural services. Completion is scheduled for September 2020.
Finance i Ohio NorthMarq provides $7 million in financing for Dayton retail center Noah Juran, senior vice president/senior director of NorthMarq’s Cincinnati-based regional office, arranged acquisition financing of $7 million for Southland 75 Shopping Center, a 117,410-square-foot retail property at 8265-8361 Springboro Pike in Dayton, Ohio.
Hospitality N Illinois DoubleTree Midway to get new public spaces in final phase of renovation Cicero’s Development Corp. has completed the initial phase of rebranding the Holiday Inn Midway, situated a few blocks from Chicago’s Midway International Airport, to the DoubleTree by Hilton Midway. Work will now begin on the final phase of the multimillion-dollar project that will bring the DoubleTree hospitality experience to the Midway location's lobby, restaurant, fitness center, outdoor patio and other public areas.
Retail P Kansas Academy Bank opens new location in Overland Park Academy Bank, a full-service community bank and wholly owned subsidiary of Dickinson Financial Corp., opened its newest retail banking center in Overland Park, Kansas. The new branch — located at 6976 W. 135th St. — expands Academy Bank’s footprint in Johnson County.
Office N Illinois Chicago architecture and urban design firm, Canopy, relocating to downtown Canopy / Architecture + Design has announced that they will move to new offices in Chicago’s Loop later this fall. The firm has occupied space near Milwaukee and Diversey Avenues for the past five years. The new studio will be located on the second floor of 180 W. Washington, in a 1920s Art Deco building designed by Hyland and Corse.