CHICAGO, IL, April 18, 2022 — Chicago-based Mark
Goodman & Associates, Inc. (MGA), a real
estate firm with over 30 years of development, investment and construction
management experience, today announced it has closed on the acquisition of an
approximately 1.5-acre parcel of land at 400 N. Elizabeth St. in Chicago’s
Fulton Market neighborhood, where it will begin construction on a 16-story
life sciences facility later this year.
Designed by nationally recognized architecture
firm Solomon Cordwell Buentz (SCB) to be a low embodied carbon building that is both
LEED Gold and WELL certified, 400 N. Elizabeth St. will be the first
purpose-built lab and research and development building in
Chicago designed to specifically accommodate the rapidly growing life
sciences and biotechnology industry.
The
building will offer approximately 503,000 square feet of laboratory, office
and research & development space suitable for a range of life sciences
pursuits, including biotechnology, medical devices, pharmaceuticals, clean
energy, food sciences, material sciences and nanotechnology. “The life sciences market has never been
stronger, and with the addition of this building, Chicago is quickly on track
to emerge as one of the next centers of excellence in the field to attract
highly sought-after investment and premier talent,” said MGA principal Mark
Goodman. “Because the industry is experiencing record-breaking highs in
funding and job growth, the demand for new construction life sciences lab and
office space that is customized for the end-user is unparalleled. "With 400 N. Elizabeth, Chicago will have
one of the only new R & D/Lab buildings designed by and for scientists to
create best-in-class innovation.”
“While Chicago is attracting life sciences
investment in many neighborhoods, Fulton Market is quickly becoming a de
facto hub in the city, with additional supply of lab space being planned and
delivered,” said Scott Brandwein,
managing director of JLL. “Drawing on its industrial roots, Fulton
Market offers proximity to the medical district, major educational
institutions, and some of the city’s marquee employers, along with
Michelin-starred restaurants, luxury residential buildings and boutique
hotels, making it a highly desirable urban location that appeals to the
scientists and professionals that work for life sciences firms. "It
has all the right elements for a company wanting a downtown location that
will become only more attractive to employees over time.” “Our design resulted in large floorplates for
labs and high bay ground floor for specialty spaces, such as pilot labs, to
uniquely position the building for established and emerging companies looking
for flexible and highly sustainable lease spaces near the West Loop,” said Jay
Longo, AIA, principal at SCB. Construction is anticipated to take up to 20
months, with an expected completion date in 2024.
CONTACTS: Amanda Cienkus (312)
267-4524 Kim Manning (312)
267-4527
|
Monday, April 18, 2022
Mark Goodman & Associates Closes on 400 North Elizabeth Street in Chicago’s Fulton Market and Plans New, 16-story, 503,000-square-foot lab and office Life Sciences Hub
Jeffrey Ketron joins Northmarq: Agency expert to lead Fannie Mae production
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| Jeffrey Ketron |
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WASHINGTON, DC -- Northmarq has hired Jeffrey
Ketron as senior vice president, National Multifamily Production Fannie
Mae. Jeffrey, based in Northmarq's
Washington DC office, previously served for 14 years as vice president -
Multifamily Finance, Head of DUS Program Lender & Borrower Relations for
Fannie Mae.
The goal of this new committee will be to achieve the annual agency production goals set by the Executive Committee and to collaborate across agency platforms with regard to best practices to optimize the best client and producer experiences with our agency executions. Other representatives of this committee
will be separately announced. |
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BCLP Land Use Team Hires Kurt Steinhouse, former General Counsel of the NYC Board of Standards and Appeals
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| Kurt Steinhouse |
Kurt comes to BCLP from the New York City Board of Standards and Appeals, where he served as general counsel.
Before
joining the Board of Standards and Appeals in 2016, Kurt worked as an assistant
general counsel with the New York City Department of Buildings.
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| Judith Gallent, |
“Kurt brings to BCLP insight into the workings of several New York City land use agencies, augmenting our team’s already strong government experience and ability to provide practical advice on navigating New York City’s development process,” said Partner Judith Gallent, leader of the firm’s U.S. Planning & Zoning Practice.
CONTACTS:
Brian Kiefer
312-602-5121
brian.kiefer@bclplaw.com
Leslie Leader Brooks
312-602-5187
leslie.brooks@bclplaw.com
ShopCore Properties is Busy as a Bee in Preparation for Earth Day; Beehives to be installed across the U.S. in 30 of ShopCore's shopping centers
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| Corinne Rico |
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Sunday, April 17, 2022
Trinity Mills Station Mixed-Use Development in Carrollton, TX to Receive One-of-a-Kind Water Feature Sculpture
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| Rendering of planned sculptured water feature installation at Trinity Mills Station in Carrollton, TX |
CARROLLTON, TX -- Outside the Lines (OTL), a design-build construction company that specializes in creating one-of-a-kind water features, fountains, rockwork and themed environments, has announced its role in creating a sculptural water feature installation at Trinity Mills Station, a mixed-use development by KOA Partners and The Integral Group in partnership with the City of Carrollton and Dallas Area Rapid Transit (DART).
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| J. Wickham Zimmerman |
The Signals sculpture is expected to be completed by the grand opening of Trinity Mills Station in Summer 2023.
“The Trinity Mills Station development revolves around a central esplanade, which was always planned to include a water feature,” says J. Wickham Zimmerman, OTL’s Chief Executive Officer.
“As the design phase was wrapping up, the City and developers felt that something was missing from the space; a typical water feature was not a bold enough gesture.”
 |
| Chris Roy |
The one-of-a-kind Public Art installation, called Signals, is inspired by a type of historic railroad signal known as a semaphore; these signals had moving arms to indicate whether trains should move or stop, according to Chris Roy, Director of Creative Design for OTL, who is designing the sculpture.
“The inspiration for Signals is derived from the City of Carrollton’s historical hub of railroad activity, as the intersection of three major railroads,” says Roy.
“This railroad heritage continues through today, with the addition of a new key route – Dallas Area Rapid Transit (DART) and the Trinity Mills Station, for which the development is named.”
The City launched an initiative to find someone who could create a feature that would have a much bigger impact on the space.
The stakeholders wanted the piece to be a sculpture with a timeless design and that would address the scale of the space, as the mixed-use development is located in the heart of Carrollton and embodies a convergence of commerce, culture, and community, adds Roy.
CONTACTS:
Katie
Haga / Jenn Quader
(949)
438-6262
Saturday, April 16, 2022
Partnership led by The Dermot Company purchases The Vitagraph, a 302-unit Brooklyn, NY rental property
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| The Vitagraph, a 302-unit luxury rental property in the Midwood neighborhood of Brooklyn, NY |
NEW YORK, NY – JLL Capital Markets has announced the sale for an undisclosed price of The Vitagraph, a 302-unit luxury rental property in the Midwood neighborhood of Brooklyn.
JLL arranged the sale on behalf of
Northlink Capital, the New York City based development firm, to a partnership
between The Dermot Company, Principal Real Estate Investors and Dutch pension
fund PGGM.
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| Jeffrey Julien |
The
property also boasts best-in-class amenities, which include an indoor
and outdoor kids play area, lavish courtyard, 24-hour doorman,
on-site indoor parking garage, business center, state-of-the-art
fitness center and rooftop patio.
Situated directly
across the street from the Avenue M subway station (Q), residents are a
30-minute ride from Lower Manhattan and less
than 20-minutes from Downtown Brooklyn.
The
Kings Highway and Coney Island Avenue retail corridors are nearby and
Avenue M, with its many popular restaurants and shops, is within walking
distance.
 |
| Steven Rutman |
“The
Vitagraph represents the most attractive of Brooklyn’s multi-family assets with
its abundant amenities, premier location and affordability compared to pricier
Brooklyn neighborhoods,” said Rutman.
“This
property is situated in a submarket set to achieve
outsized rent growth as demand outweighs the supply of larger units and luxury
amenities,” added Stanton.
“Northlink
built a high-quality property in a dynamic, transit-oriented neighborhood,”
said Andrew Levison, Partner and Managing Director at The Dermot
Company.
“Dermot is excited to bring its full suite of
services to The Vitagraph to enhance the living experiences of the residents.”
 |
| Ethan Stanton |
In Brooklyn, rents were 14 percent higher
in the first quarter of 2022 compared to the year before, while occupancy sits
at nearly 97%, according to JLL Research.
JLL
Capital Markets is a full-service global provider of capital solutions for real
estate investors and occupiers.
The firm’s in-depth local market and
global investor knowledge delivers the best-in-class solutions for clients —
whether investment sales and advisory, debt advisory, equity advisory or a
recapitalization.
 |
| Rob Hinckley |
For more news, videos and research resources on JLL, please visit our newsroom.
About The Dermot Co.
The Dermot Company, based in New York City, was formed in 1991 as a real estate investment and management company focused on multi-family sector opportunities.
The company has evolved into a fully integrated real
estate company employing over 100 real estate professionals in investment,
finance, management and development. Dermot currently manages
approximately $3.5 billion in assets and owns, hold investments in or manages
approximately 5,000 apartments.
 |
| Brendan Maddigan |
Principal Real Estate Investors is the dedicated real estate investment group within Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®.
As a top 10 global real estate manager1 Principal Real Estate Investors has more than 60 years of real estate investment experience2.
The firm’s capabilities span the spectrum of public and private equity and debt
investments, and it manages or sub-advises $105 billion in commercial real
estate assets (as of December 31, 2021).
 |
| Stephen Palmese |
1 Managers ranked by total worldwide assets (net of leverage, including contributions committed or received, but not yet invested, REIT securities are excluded), as of 30 June 2021. “The Largest Real Estate Investment Managers,” Pensions & Investments, 4 October 2021.
2 Principal Real Estate Investors became registered with the SEC in November 1999. Activities noted prior to this date were conducted beginning with the real estate investment management area of Principal Life Insurance Company and later Principal Capital Real Estate Investors, LLC, the predecessor firm to Principal Real Estate Investors.
 |
| Andrew Levison |
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $19.4 billion in 2021, operations in over 80 countries and a global workforce more than 98,000 as of December 31, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
CONTACTS:
Jenna Sharp
Jenna.Sharp@am.jll.com
George Shea, Linda O’Flanagan
Company: Shea Communications
Phone: +1 760 519 4596
Email: Linda@sheacommunications.com
Friday, April 15, 2022
NAIOP Arizona Honors Lincoln Property Company Senior Executive Vice President David Krumwiede with 2021 Award of Excellence
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| David Krumwiede |
PHOENIX, AZ – David Krumwiede, a 36-year veteran of the commercial real estate industry and Senior Executive Vice President for Lincoln Property Company (LPC), has been named NAIOP Arizona’s 2021 Award of Excellence recipient.
The award will be presented to Krumwiede at the Best of NAIOP awards ceremony on June 9 at the Arizona Biltmore.
The NAIOP Arizona Award of Excellence recognizes an individual who has made a significant and positive impact on the commercial real estate industry in Arizona over a period of at least 15 years, along with direct volunteer contributions to the chapter.
In just over two decades at LPC, Krumwiede has developed 15 million square feet, acquired over 6 million square feet and currently manages more than 18 million square feet of Class A commercial product. He also serves as an active member and leader across the industry.
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| Rusty Kennedy |
“He has had, and continues to have, a tremendous impact on Arizona’s commercial real estate community. Dave’s numerous contributions to NAIOP and the Metro Phoenix market span nearly four decades, and his influence and leadership have positively affected many.
"NAIOP Arizona is grateful for Dave and proud to present him with this award.”
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| The award will be presented to Krumwiede at the Best of NAIOP awards ceremony June 9 at the Arizona Biltmore |
Krumwiede is well known in the Valley’s commercial real estate industry, serving for the past 21 years as head of the Desert West region of LPC, where he oversees Arizona, Utah, Nevada and New Mexico.
A 55-year resident of Arizona, Krumwiede previously spent 15 years with OPUS, where he ultimately became Vice President for the company’s Southwest operations. In 2001, Krumwiede joined Lincoln Property Company as Partner and established the Phoenix headquarters office of LPC Desert West.
CONTACTS:
Stacey Hershauer
Katrina DeBaker
602-230-1645
katrina@naiopaz.org
lpcdesertwest.com
