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This summer work will commence on phase one that will involve an approximate 9,000-square-foot freestanding building for Kiddie Academy and a nearly 4,500-square-foot single-tenant building, which is available for lease.
Chicago-based executive managing directors Craig Cassell and Michael Sessa will lead Cushman & Wakefield's S&E Advisory Group and will be responsible for managing the firm's overall strategic approach to sports and entertainment related client services.
The all-cash transaction was closed in 90 days and includes Waldron Square (621-645 Waldron St.), Settlement (515 W. Stadium Ave.) and Cedarwood (515-527 N. Grant St.), among other properties.
“With recent updates to the building and tenants already in place, 2605 Clearbrook provided the flexibility and stability sought in the marketplace,” says Kelly Joyce, a vice president at Colliers Chicago.
The expansion will support Ulta Beauty's continued growth and provide additional space and amenities to attract and retain talent, says Colliers' Frederick Regnery.
The deal, which calculates out to $161,538 per unit marks Aegon RA's first multifamily purchase under its recently formed Workforce Housing Investment program.