Chicago

On the Chicago-based REIT's Q3 earning call, Ventas's Debra Cafaro, CEO and chairman, reveals that the portfolio did not receive the strong seasonal lift in occupancy that was expected.

The developers recently launched vertical construction on the 26-acre redevelopment project and also marked the completion of 200,000 square feet of leasing at the project.

Among some of the key prevailing trends in the market include strong activity by food tenants that are expanding or debuting new dining concepts in the area.

Morgan Properties acquired the portfolio from Pittsford, NY-based Morgan Communities, which has no relation to the Pennsylvania-based company.

Brides by Young, which has locations in Indianapolis and Schaumburg, IL, has signed a lease for 5,650 square feet at Liberty Plaza in Rochelle Park.

Altenau will lead the firm's Debt Capital Markets platform for Chicago and the Midwest. Yarnoff will partner with Altenau in growing the company's business and execution of large, highly complex structured real estate financings as well as middle market financings across all asset types and service lines.

As part of the transaction Prologis plans to sell $3.5 billion of assets including $2.8 billion of non-strategic logistics properties and $700 million of office properties.

Interra Realty, which brokered the transaction, reports the 150 Fullerton property sold for approximately $10.6 million, which registered at $425,400 per unit.