DEALTRACKER

DES MOINES, IA—CBRE Hotels has just arranged the sale of a 417-room Marriott in downtown Des Moines at 700 Grand Ave. in Des Moines, IA to SRE Bulldog Hotel Owner, LLC. CBRE Hotels' Nate Sahn, senior vice president in Chicago and Kyle Gamble, managing director in Des Moines represented the seller, City Center Development LP, in this transaction. The buyer plans to renovate the hotel and focus on upgrading the guestrooms and public areas. The 33-story hotel is attached to the Des Moines' Downtown Skywalk system, which provides direct access to the class A Ruan Center office building – the second tallest building in Des Moines.

INDIANAPOLIS—Becovic Cos. recently purchased Highland Pointe Apartments, a 133-unit multifamily property located in Indianapolis, for $5.9 million. Chris Bruzas and Alex Blagojevich of Berkadia listed the property for Fireside Financial and completed the sale on December 12, 2016. “We are seeing strong interest from buyers from all over the country for properties like Highland Pointe and they are becoming tougher to find,” says Bruzas. Becovic plans to renovate the unit interiors and common areas. In addition, it will implement energy conservation programs and amenities at the community.

BUILDING BLOCKS

WOODRIDGE, IL—HSA Commercial Real Estate has selected Morgan/Harbour to design and construct a 137,500-square-foot industrial speculative facility at 1200-1250 Douglas Rd. in west suburban Batavia, IL. Scheduled for completion in April 2017, Morgan/Harbour will provide complete design-build services from sitework and building design through permitting, construction, and final turnover. The facility is designed for a single tenant or divisible to 25,000-square-foot minimum, and is located on a 9.5-acre site in the Batavia Industrial Center.

NEWS & NOTABLES

CHICAGO—RE/MAX Northern Illinois has forged a partnership with real estate marketing company Circlepix to bring automation marketing services to its network of 106 independently owned and operated offices and more than 2,300 brokers. The company will get Circlepix's PIXmarketing suite for its brokers and agents including tools for lead-generation, social media and customized property materials. “We see Circlepix's automation marketing as a pioneering product in the industry that we are excited to integrate into our larger technology and marketing efforts,” says Casey Reagan, chief technology officer of RE/MAX Northern Illinois. “PIXmarketing's tools will allow agents to focus more on being agents and better market their listings as a result of this program.”

CHICAGO—Transwestern just expanded its Midwest office and industrial brokerage teams with five new producers. June Simonian and Michael Cello have been appointed senior vice presidents in the firm's Chicago Tenant Advisory Services team. In addition, the industrial team in suburban Rosemont has appointed Michael Bacik as senior vice president and Paul Boccellari and Brian Pomorski as associates. “In 2017 and beyond, we'll continue to grow our business across the Midwest and nationally by investing in the people who make Transwestern a leader in client service and satisfaction,” says Mike Watts, Transwestern's Midwest president. Simonian has more than 25 years of experience representing tenants in Chicago and previously serving at Cushman & Wakefield.

DEALTRACKER

DES MOINES, IA—CBRE Hotels has just arranged the sale of a 417-room Marriott in downtown Des Moines at 700 Grand Ave. in Des Moines, IA to SRE Bulldog Hotel Owner, LLC. CBRE Hotels' Nate Sahn, senior vice president in Chicago and Kyle Gamble, managing director in Des Moines represented the seller, City Center Development LP, in this transaction. The buyer plans to renovate the hotel and focus on upgrading the guestrooms and public areas. The 33-story hotel is attached to the Des Moines' Downtown Skywalk system, which provides direct access to the class A Ruan Center office building – the second tallest building in Des Moines.

INDIANAPOLIS—Becovic Cos. recently purchased Highland Pointe Apartments, a 133-unit multifamily property located in Indianapolis, for $5.9 million. Chris Bruzas and Alex Blagojevich of Berkadia listed the property for Fireside Financial and completed the sale on December 12, 2016. “We are seeing strong interest from buyers from all over the country for properties like Highland Pointe and they are becoming tougher to find,” says Bruzas. Becovic plans to renovate the unit interiors and common areas. In addition, it will implement energy conservation programs and amenities at the community.

BUILDING BLOCKS

WOODRIDGE, IL—HSA Commercial Real Estate has selected Morgan/Harbour to design and construct a 137,500-square-foot industrial speculative facility at 1200-1250 Douglas Rd. in west suburban Batavia, IL. Scheduled for completion in April 2017, Morgan/Harbour will provide complete design-build services from sitework and building design through permitting, construction, and final turnover. The facility is designed for a single tenant or divisible to 25,000-square-foot minimum, and is located on a 9.5-acre site in the Batavia Industrial Center.