News

The joint-venture partnership purchased the Residence Inn by Marriott Herndon Reston for $17.25 million in an off-market transaction.

Construction financing and joint venture equity was recently arranged for the Montrose Collective, a four-building mixed-use development with 150,000 square feet of creative office/retail space.

The portfolio consists of more than 1.9 million square feet of space across 11 of the 19 Chicago submarkets. Capital One provided the debt financing for the acquisition. Venture One will continue to manage the portfolio.

The firms secured a three-year, floating-rate loan with Wells Fargo Bank for Park 100 Logistics Center, a newly constructed 730,080-square-foot distribution facility and an adjacent 811,200-square-foot production facility that is under construction.

MiSUMi USA plans to take occupancy of its new space in June of this year. The firm is relocating from 1717 Penny Lane in Schaumburg, where it currently leases 32,000 square feet.

Construction of 120 Frontage Road is expected to be completed later this year. The new warehouse will offer a 36-foot clear ceiling height, 19 loading dock doors, one drive-in door and 46 parking spaces.

The acquisition includes Bloomfield Business Park, which consists of 16 multi-tenant warehouse/flex buildings and five multi-tenant buildings along Commerce Lane in the Commerce Lane Business Park.

Real estate investment management firms Thor Equities Group and United American Land have partnered to acquire the retail condominium of Flushing Commons in Flushing, Queens, for $42 million.