Chicago-based global architecture firm Goettsch Partners has named James Zheng as CEO, while Paul De Santis joins James Goettsch as co-design directors for the practice. As the primary partners in the firm, the three have worked closely together for more than 17 years. Goettsch will continue to serve as chairman while Zheng now assumes the …
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Dayton Street Partners (DSP), a Chicago based commercial real estate company focused on the acquisition and development of industrial and logistics properties, has sold two facilities in Chicago to Brookfield Properties for an undisclosed sum. The first property, located at 2501 W. Fulton St., is a 42,000-square-foot warehouse/distribution facility situated on 1.5 acres. DSP acquired …
Interra Realty negotiated the $2.23-million sale of a two-building multifamily portfolio in Chicago’s Pilsen neighborhood. The properties, acquired by separate buyers, included a six-unit building at 1924 S. Loomis St. and a seven-unit building at 2214 W. 18th Pl. The average price per unit was $171,538. Director Jeremy Morton was engaged to sell the buildings …
Lee & Associates Illinois recently negotiated two retail property sales in Chicago’s northwest suburbs. Both deals were handled by principal Rock Scardino. Scardino represented the seller, Abbott Land, in a $1-million sale of a 2.9-acre retail landsite at the Southwind Business Park in Bartlett, IL. Buyer Ricky Patel represented himself. A neighborhood convenience center is planned with a boutique grocery …
Associated Bank closed on $67,534,926 in financing for Greystar to construct Summerwell Maple Grove, a community of two-story luxury townhomes located at 15400 105th Ave. North in Maple Grove, MN, approximately 17 miles northwest of Minneapolis. SVP Edward “Ted” Notz with Associated’s commercial real estate division arranged the financing. The property formerly was unimproved agricultural …
A trio of tech-forward fashion companies will open flagship offices at Eretz Group’s 177 Lafayette St., which was renovated by Eretz Group following the departure of WeWork, which was born in a corner office of the building back in 2010. New Zealand-based menswear brand Rodd & Gunn has leased 4,386 square feet for seven years …
The Alliance of Resident Theatres/New York (A.R.T./New York), an arts service organization, has signed a full-floor, 20-year lease renewal for 32,000 square feet at 520 Eighth Ave. in the Garment District. A.R.T./New York will continue to use the space as rehearsal studios, offices for member theatre companies and as its headquarters. 520 Eighth Ave. is home …
EW Howell Construction Group recently completed expansion and renovation work at two prominent private schools in Manhattan. The builder served as general contractor for constructing a new, 30,000-square-foot home for Harlem Academy at 655 St. Nicholas Ave. and also led the expansion of Village Community School at 272 W. 10th Street. “Harlem Academy was a …
ERG Commercial Real Estate has provided a $6-million refinance loan on two three-story brick mixed-use buildings along one of the premier corridors within Brooklyn’s Greenpoint neighborhood. The properties, at 23 and 27 Greenpoint Ave., feature four apartments and two ground-floor restaurants. Managing director Ryan Lewis and finance director Mary Guarino closed the deal on the …
Cypress Equity Investments (CEI) broke ground on Avenue G, a 354-unit apartment complex in Bayonne, NJ. Located in a rapidly growing community on New Jersey’s Gold Coast, the new development is directly adjacent to the recently completed 180-residence Edge apartment community, also developed by CEI. Avenue G represents the first groundbreaking resulting from CEI’s recent joint venture with New York-based Winter Properties. Designed by …
Toshiba is looking to “reimagine the store of the future” from its new hub in Frisco. The company is starting modestly in Frisco, just bringing in 50 new jobs, but plans to grow that number of 150 within the next two year. Toshiba’s Rance Poehler describes the company’s new thinking, “We’re focused on providing scalable, …
It’s up to 19 and growing. Waterton added the Mission Gate Apartments in Plano to its impressive portfolio of its Texas multifamily communities. The 24-acre community at 8025 Ohio Dr. in Plano, includes 13 three-story residential buildings and a clubhouse. Built in 1999, the units will get some attention, “With a number of residences in …
In a sign of the aviation sector’s recovery and following a summer of challenges related to staffing issues, United Airlines is stepping up hiring as it prepares for winter, reported Crain’s Chicago Business. The airline is hosting a job fair August 16 at the United Center in an effort to hire 300 operations workers at O’Hare. The …
Newmark Valuation & Advisory has introduced a Loan Portfolio Solutions practice, providing regulatory remediation services for large bank clients. The group advises on bank loan portfolio stress testing and risk review. Joining Newmark as the practice leader for Loan Portfolio Solutions, David Risdon will lead the group with EVPs Joseph Posavec and David Wolter. Among …
The City Council unanimously approved the $670 million beef processing facility. It’s expected to be built in late 2023. The new facility, Producer Owned Beef, received more than $12 million from the Texas Enterprise Fund and an additional $11.1 million in tax incentives funded by the Amarillo Economic Development Corporation. In addition, the Texas facility …
Berkadia arranged the sale and financing of two Houston-area properties. Performance Properties spun off Timberwalk, a 300-unit apartment community to Lone Star Capital. Berkadia’s Joey Rippel and Chris Young led the sales effort and Johnny King secured the debt. Built in 1983, the Timberwalk offered floorplans from one to three-bedroom units averaging about a 750 …
Sustainability has been a watchword for Hines since Gerald Hines founded it in 1957—even if, as the company’s Peter Epping points out, “It wasn’t called sustainability then, or ESG or any other acronym. For him, it was the durability of the buildings and the quality, their longevity and what impact they would have on the …
The City of Dallas is seeking to turn parkings lots by six DART light-rail stations into transit-oriented developments. The stations, all but one located south of Interstate 30, include adjacent parking areas that are often empty. The City made an agreement with DART to market requests for proposal to build on those lots. The process …
Commercial real estate executives continue to view current conditions as significantly less favorable than previous quarters amid rising interest rates, increased inflation, supply chain disruptions and labor shortages. However, leaders’ expectations for the markets one year from today have improved, according to The Real Estate Roundtable’s Q3 2022 Economic Sentiment Index. Roundtable president and CEO Jeffrey …
It took over three years to go from a humdrum parking structure, to a sparkling, rhombus-shaped eye-catching structure. Hines, along with Cresset Wealth Advisors and Levy Family Partners, combined to build one of Houston’s best addresses. The Brava recently opened its well-appointed doors. Reaching 46-stories, it’s Houston’s tallest apartment tower. The opulent Hines high-rise is …
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