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JLL states in its year-end 2019 report on the Chicago industrial market that after some nervousness earlier in the year, large occupiers returned to the market.
CT acquired the 382-acre property within the Rickenbacker Industrial Park in a joint venture with Walton Street Capital. Construction financing will be provided by Bank of America.
Located 10 miles north of Philadelphia, Baederwood Shoppes on the Fairway is 94% leased. Its tenant roster includes anchor Whole Foods Market, as well as Planet Fitness, Panera Bread, Le Papillon Hair Salon, Massage Envy, Baederwood Pharmacy, Penn Community Bank and WSFS Bank.
"The successful launch of this new industry is a historic development for our state that will benefit the very communities that have been disproportionately impacted by the failed war on drugs," says Toi Hutchinson, senior advisor to Governor J.B. Pritzker for Cannabis Control.
The Pilsen Gateway project is located in a Qualified Opportunity Zone near the city's Medical District. It is being developed on a 1.24-acre site at 1461 S. Blue Island that is bounded by S. Racine Avenue, S. Blue Island Ave. and 15th St.
Newmark Knight Frank Multifamily reports it arranged more than $61 million in financing in connection with the purchase of the property that was completed in 2000 and is located adjacent to Route 59 Metro Station.
The new hires will be led by Newmark Knight Frank senior managing director and NKF V&A market leader for Illinois, Kansas and Missouri, John Mackris, MAI, MRICS, CCIM.
The properties sold include retail stores, a distribution facility and office space. Bed Bath & Beyond will continue to occupy these properties pursuant to long-term leases.