CRE

Cushman & Wakefield Arranges $12 Million Loan for the Refinancing of River Square in Naperville, Illinois

CHICAGO, January 14, 2019 – Cushman & Wakefield’s Equity Debt & Structured Finance team has arranged a $12 million loan for the refinancing of River Square, a retail center in Naperville, Illinois. Jeffrey Cohen, Director of the Equity, Debt and Structured Finance group based in Cushman & Wakefield’s Chicago World Headquarters, arranged the full term interest only fixed rate loan, provided by Voya Investment Management, on behalf of Clarion Partners and a large overseas pension fund. “Jeffrey Cohen, Cushman & Wakefield: “Downtown Naperville has become a destination for the surrounding area that continues to drive demand for tenants and investors. The strong underlying fundamentals of rent growth, low vacancy rates, and a limited construction pipeline, coupled with the strong in-place cash flow, potential for future rent growth, and diverse mix of national and local F&B and service retailers proved to be very attractive to the lending community, which aggressively pursued [...]

Cushman & Wakefield Secures 2018’s Largest Industrial Lease in City of Chicago

MAT Limited Partnership and J.P. Morgan’s Marina Crossings is more than 50% leased within 60 days of completion of the site CHICAGO, January 10, 2019 – Cushman & Wakefield represented landlord Marina Crossings Owner, LLC, a joint venture between MAT Limited Partnership and institutional investors advised by J.P. Morgan Asset Management, in securing its first tenant at 2075 W. 43rd Street, a premier infill industrial development. It is the City of Chicago’s largest speculative industrial building since 1905. First Logistics, an Illinois-based 3PL, will expand from their current facility in Alsip, IL to immediately occupy 331,059 square feet (SF) of the 633,057 SF facility. Larry Goldwasser, Jason West, Colin Green, Matt Cowie and Michelle Maguire represented the landlord in lease negotiations. Larry Hanley of Midwest Commercial Real Estate represented the tenant. Larry Goldwasser, Managing Director, Cushman & Wakefield: “Marina Crossings is an attractive option for tenants looking for immediate proximity [...]

Cushman & Wakefield Arranges Sale for The Coil Apartments and Fresh Thyme

Todd Stofflet, Jason Stevens and Susan Tjarksen Represented the Seller CHICAGO, December 5, 2018 – Cushman & Wakefield has arranged the sale of The Coil Apartments and Fresh Thyme at 6349 N. College Ave, in Indianapolis to RDG Funds. The property is 151 units of new construction multifamily residences above a 33,500-square-foot retail space anchored by Fresh Thyme. Todd Stofflet, Jason Stevens and Susan Tjarksen represented the seller, Sheehan Companies and Browning Investments. Todd Stoflett, Cushman & Wakefield, said: “The Coil Apartments are well-located in the popular Broad Ripple Village, anchored by a Fresh Thyme, and with a number of dining, entertainment, fitness and shopping options just minutes away. This is one of the first sales of a Class A mixed-use property in Broad Ripple and The Coil is commanding some of the top rents in the area. Overall, it’s well-positioned for long-term growth.” About Cushman & Wakefield Cushman & Wakefield [...]

Cushman & Wakefield Arranges $25m Sale for Thompson Thrift

Evan Halkias, Michael Marks and Craig Collins Represented Seller in Transaction CHICAGO, November 28, 2018 – Cushman & Wakefield has arranged the $25 million sale of Hopkinsville Towne Center, a 185,761-square-foot (SF) open-air community retail center located at 4805-4895 Fort Campbell Blvd. in Hopkinsville, Kentucky. Evan Halkias, Michael Marks and Craig Collins represented the seller, Thompson Thrift, in the transaction. Sarah Lighting, Inc., acquired the property. “Hopkinsville Towne Center is strategically located on Fort Campbell Highway with excellent proximity to suburban residences and shoppers,” said Collins, Director, Cushman & Wakefield. “The property is less than one mile from the James E. Bruce Convention Center and is just 10 miles from the fifth largest U.S. military base. The property is well-positioned for growth over the coming years and is already anchored by strong, long-term tenants like TJ Maxx, Hobby Lobby, Ulta, Five Below and Ross.” About Cushman & Wakefield Cushman & [...]

Cushman & Wakefield Arranges Sale of Tuscaloosa Surgical Center and Medical Office Building

Gino Lollio and Scott Niedergang Represented the Seller and Buyer CHICAGO, November 28, 2018 – Cushman & Wakefield has arranged the $7.85 million sale of Tuscaloosa Surgical Center and Medical Office Building at 1400 and 1406 McFarland Boulevard North in Tuscaloosa, Alabama. Gino Lollio and Scott Niedergang of Chicago, brokers in the firm’s Healthcare Advisory Practice, Capital Markets, with the assistance of R. William Pradat, Jr., represented the seller, a group of physicians practicing out of the building. They also represented the buyer, an out-of-state private healthcare-focused real estate investment trust (REIT). Approximately 65% of the two buildings are occupied by a Surgical Care Affiliates (SCA) Ambulatory Surgery Center. Roughly 33% of the medical office building is vacant and provides for future upside to the new owner. Tuscaloosa Surgical Center has a strong footprint in the community and has serviced the area with over 250,000 surgical cases since 1995. Scott [...]

Cushman & Wakefield Arranges Sale of Seventh Avenue Medical Center

Gino Lollio, Scott Niedergang, Bryan Belville and Eric Schreibman Represented the Buyer and Seller in the Transaction CHICAGO, November 28, 2018 – Cushman & Wakefield has arranged the sale of Seventh Avenue Medical Center in Chardon, Ohio, a Cleveland suburb. Gino Lollio, Scott Niedergang and Bryan Belville of Chicago, brokers in the firm’s Healthcare Advisory Practice, Capital Markets, with the assistance of Eric Schreibman of Cleveland, represented the seller, a group of physicians practicing out of the building and the original builders. They also procured the buyer, an out-of-state private equity firm focused on the acquisition of medical office real estate throughout the country. Seventh Avenue Medical Center is a 27,930-square-foot, ambulatory surgery center-anchored medical office building located at 150 Seventh Avenue. The building was fully occupied with each tenant signing new long-term triple-net (NNN) leases with annual increases prior to the sale. Anchor tenants include Kellis Eye Center, Chardon [...]

Cushman & Wakefield Arranges $10m Sale of Cape Coral Surgery Center

Gino Lollio, Scott Niedergang, Gary Tasman Represented Ownership Group CHICAGO, November 27, 2018 – Cushman & Wakefield has arranged the $10 million sale of Cape Coral Surgery Center Medical Office Building in Cape Coral, Fl. Gino Lollio and Scott Niedergang of Chicago, brokers in the firm’s Healthcare Advisory Practice, Capital Markets, with the assistance of Gary Tasman of Florida, represented the ownership group in the sale. The ownership group consisted of a number of physicians practicing out of the building and associated with the surgery center operation. The Cushman & Wakefield team also procured the buyer, a California-based real estate private equity firm focused on creating and maximizing value through the strategic acquisition and management of assets throughout the country. Cape Coral Surgery Center is a 39,142-square-foot (SF) multi-tenant medical office building that is currently 95% occupied by nine medical tenants including Cape Coral Surgery Center, 21st Century Oncology and [...]

Cushman & Wakefield’s ‘Tech Cities 2.0’ report confirms Chicago as a major tech hub for the U.S.

Low cost of living relative to other tech markets gives Chicago a leg up Chicago, October 12, 2018 – Cushman & Wakefield today released Tech Cities 2.0 an annual report that identifies existing and emerging tech centers increasingly driving the North American economy and details their impact on the commercial real estate sector. Historically a hard goods hub, Chicago has established itself as an important city for technology (see video clip) and an increasingly appealing choice for tech companies and the young talent they are attracting – with companies like Microsoft, Google, Salesforce and others setting up major operations in the City. Further, non-tech companies reliant on strong tech functions are moving to the City of Chicago because of its strong talent pool. “A confluence of factors such as access to talent, top universities, a relatively low cost of living, and relatively inexpensive real estate costs make Chicago a very appealing [...]

Cushman & Wakefield Represents Snap36 in Fulton Market HQ Relocation

Growing Tech Firm Triples its Office Space in Vibrant, Chicago CBD Submarket CHICAGO, July 11, 2018 – Cushman & Wakefield announced today that the firm has represented Snap36 in expanding and relocating its headquarters to over 42,000 square feet (SF) at 219 N. Paulina St. in Chicago’s Fulton Market district. Snap36, ranked as one of the fastest growing companies on the Inc. 5000 for the past three years, is a product content services company that specializes in 360°/3D imagery and technology. Cushman & Wakefield Senior Director Adam McCostlin and Director Jordan Decker represented Snap36, while CBRE Senior Vice President Mitch Adams represented ownership of 219 N. Paulina St. Snap36 experienced a 966% growth rate and expanded its occupancy footprint 6X, from 7,000 SF to 42,000 SF, in three years, rendering the company’s previous space in another corner of Fulton Market insufficient. The new creative space at 219 N. Paulina now [...]