Industrial N Illinois Industrial leasing sees 20 percent upswell One would think that Chicago’s industrial market was already racing ahead at top speed. But last quarter, the sector found another gear as 8.67 million square feet of space was leased up.
Office W Minnesota Renovations, modernizations powering Minneapolis office market Steady. That’s the word Tom Tracy, executive director with the Minneapolis office of Cushman & Wakefield, uses to describe the office sector in his city.
CRE N Illinois The suite smell of parking success Parking is an invaluable asset for developers and building owners. Well-designed and implemented parking resources increase any property’s value, while poorly conceived parking can undermine the same property. Fortunately for owners and developers, the parking industry is in the midst of a technology renaissance that is making parking more user-friendly and manageable than ever before.
Multifamily N Illinois First peek at the Tribune Tower Residences Nearly a century ago, the Chicago Tribune launched an architectural competition to design a new headquarters. The resulting building—an iconic, neo-Gothic gem on Chicago’s famed Michigan Avenue—will welcome residents instead of office workers when the Tribune Tower Residences opens next year.
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Office N Illinois Tucker Development relocates HQ to Chicago's Fulton Market Tucker Development has relocated its headquarters from the northern suburb of Highland Park, Illinois, to 954 W. Washington Boulevard in Chicago’s Fulton Market District. The family-owned commercial real estate firm, known for its mixed-use and retail developments, has officed in the Fulton Market building since 2016 and, as part of the relocation, will substantially expand its footprint to accommodate the corporate headquarters.
Finance N Illinois First-of-its-kind loan fund to benefit Chicago minority small business owners Related Midwest, Magellan Development, Sterling Bay, Clayco, the Chicago Federation of Labor and Chicagoland Association of General Contractors announced the creation of a program to guarantee capital for minority- and women-owned businesses in the construction and professional services industries. This first-of-its-kind, cross-industry effort represents an innovative initiative to increase diversity and inclusion in the development and construction industry by breaking down barriers to capital for small businesses and providing financial and operation support services.
Office N Illinois New Jersey investor acquires Oak Brook office building for $43 million Skillman, New Jersey-based Fairbridge Properties purchased Oak Brook Gateway for nearly $42.85 million. The eight-story, Class-A office property located at 1111 West 22nd Street, Oak Brook, Illinois was 93 percent occupied at acquisition with tenants including Aerotek, Lewis University, Oxford Bank and the U.S. Census Bureau.
CRE L Iowa Weitz earns BIM honor for Des Moines parking garage The Fifth parking garage, being built in downtown Des Moines, Iowa, by Weitz, was named the Cast-in-Place winner of the 2019 Tekla North America BIM Awards.
Office N Illinois Uber confirms 450,000-SF office lease at Old Post Office Rideshare firm Uber has confirmed earlier reports and will lease 450,000 square feet in Chicago’s Old Post Office. It’s the largest of numerous leases in the redeveloping property and will be the tech firm’s biggest office outside of its San Francisco headquarters. Uber plans to move in by January 2020.
Finance c Nebraska NorthMarq provides financing for Nebraska business park Steve Ruff, managing director, and Josh Larsen, vice president, of NorthMarq’s Omaha-based regional office collaborated to arrange acquisition financing of $1.45 million for Ralston Business Park, a 59,488-square-foot industrial property at 5740, 5750-62 S. 77th St. in Ralston, Nebraska.
Industrial i Ohio Construction starts on advanced manufacturing facility in Cincinnati The Port joined Messer Construction, Terrex Development, City of Cincinnati Mayor John Cranley, Hamilton County Board of Commissioners President Denise Driehaus, REDI Cincinnati and the Bond Hill Community Council in breaking ground for the construction of an advanced manufacturing facility at 2249 Seymour Avenue, formerly a parking lot for the Cincinnati Gardens complex, in Cincinnati.
Retail N Illinois Mid-America Real Estate arranges Sale of Midway Square in Chicago Mid-America Real Estate Corporation’s investment sales team recently brokered the sale of Midway Square in Chicago. The 55,332-square-foot retail center was purchased by Denver-based Plaza Fiesta, LLC. The established shopping center is located in an urban neighborhood at the southeast corner of Pulaski Road and 51st Street, just adjacent to the Chicago Transit Authority’s Pulaski “L” station.
Retail X Missouri Fields Foods opens at St. Louis apartment building Cullinan Properties recently celebrated the opening of Fields Foods at its Lofts@Euclid loft-style apartment building in St. Louis’ Central West End neighborhood.
Multifamily N Illinois Marcus & Millichap arranges sale of nine-unit apartment building in Joliet Marcus & Millichap closed the sale of a nine-unit apartment property located in Joliet, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $670,000.