KANSAS CITY—The Kansas City region has witnessed explosive growth of the warehousing and distribution sector in the past few years. To explore the reasons for this, and to also see what the future holds, on April 26 KC SmartPort will host an industry briefing titled, 'Big Freight: Behind the Deals in KC's Freight-Based Development'. Top influencers in the industrial real estate and freight industries will discuss how companies identify the need for a new facility and ultimately select locations – based on factors including transportation costs, labor, incentives, real estate and more. Since 2015, companies including CVS Pharmacy, Amazon, Spectrum Brands HHI, S&S Active Wear and ReallyGoodStuff.com have invested $150 million and built or occupied more than four million square feet of warehousing and distribution space in the region. Amazon alone is adding over 2,000 jobs to the region with two new fulfillment facilities.

OAK BROOK, IL—CenterPoint Properties has just named Tony Beck its senior vice president, eastern region. In his role, Beck will handle eastern market expansion, including sourcing new development opportunities, developing broker relationships and negotiating development terms. “Given his extensive experience across all lines of development, leasing and operations, we're excited to have Tony move into this new role and take on a leadership position within the company,” says Michael Murphy, CenterPoint's chief development officer. “Since joining us in 2015, he has become an integral part of the east coast team and we look for forward to building upon that success in this new role.” Prior to joining CenterPoint, Beck served as vice president and corporate officer at First Potomac Realty Trust.

DEALTRACKER

SOUTH BEND, IN—Strawberry Fields REIT LLC, an owner and lessor of nursing homes, long-term acute care hospital facilities and medical office buildings in the Midwestern and Southern US, recently closed on a $4.4 million HUD guaranteed loan to refinance The Waters of Scottsburg, a 99-bed skilled nursing facility located in Scottsburg, IN, a suburb of South Bend. Strawberry Fields acquired the facility, which has a current occupancy of 69%, in 2014. The new loan has a 35-year term at 3.65% fixed interest. “We are known as a hands-on and active investor and worked closely with the property manager to make the necessary improvements to get this property where it should be and then secured the refinance,” says Moishe Gubin, chief executive officer of Strawberry Fields. The firm owns 57 facilities located in IL, IN, OH, TX, MI, TN, KY and OK.

BUILDING BLOCKS

LOMBARD, IL—McShane Construction Co. has just completed Apex 41, a 181-unit luxury apartment development of GlenStar Properties LLC. Located on a three-acre site at 2760 S. Highland Ave. in Lombard, IL, a western suburb of Chicago. The upscale property is just across the street from Yorktown Shopping Center mall. Apex 41 was constructed in a podium format with a five-story metal-framed residential component atop a two-story, 242-vehicle precast concrete parking deck. The complex incorporates a mix of studio, one- and two-bedroom units. “The I-88 corridor is home to a number of Fortune 500 companies and continues to attract large businesses making the area an increasingly desirable place to live,” says Jeffrey A. Raday, president of McShane. “Apex 41 provides a much needed rental option to the area's expanding young workforce who desire the amenities and locational benefits offered by this superior development.”

BY THE NUMBERS

MINNEAPOLIS—The medical technology industry continues to grow more important to the greater Minneapolis region. Last year, its venture capital funding ranked second nationally at $79.5 million—a 296% year-over-year jump for all VC funding types (from Q3 2015 – Q3 2016)—all of it for later stage companies or expansion, according to JLL. Nationally-known firms like Medtronic, St. Jude Medical and Boston Scientific all make their homes in the area, forming a “Medical Alley” in between St. Cloud, the Twin Cities and Rochester. And although many tech firms have headed to the Minneapolis CBD, 81% of that venture capital funding is headed to medical device companies that sit in the suburbs. JLL researchers believe the bigger footprints available in the suburbs has been a major draw for both device research and manufacturing.

NEWS & NOTABLES

KANSAS CITY—The Kansas City region has witnessed explosive growth of the warehousing and distribution sector in the past few years. To explore the reasons for this, and to also see what the future holds, on April 26 KC SmartPort will host an industry briefing titled, 'Big Freight: Behind the Deals in KC's Freight-Based Development'. Top influencers in the industrial real estate and freight industries will discuss how companies identify the need for a new facility and ultimately select locations – based on factors including transportation costs, labor, incentives, real estate and more. Since 2015, companies including CVS Pharmacy, Amazon, Spectrum Brands HHI, S&S Active Wear and ReallyGoodStuff.com have invested $150 million and built or occupied more than four million square feet of warehousing and distribution space in the region. Amazon alone is adding over 2,000 jobs to the region with two new fulfillment facilities.

OAK BROOK, IL—CenterPoint Properties has just named Tony Beck its senior vice president, eastern region. In his role, Beck will handle eastern market expansion, including sourcing new development opportunities, developing broker relationships and negotiating development terms. “Given his extensive experience across all lines of development, leasing and operations, we're excited to have Tony move into this new role and take on a leadership position within the company,” says Michael Murphy, CenterPoint's chief development officer. “Since joining us in 2015, he has become an integral part of the east coast team and we look for forward to building upon that success in this new role.” Prior to joining CenterPoint, Beck served as vice president and corporate officer at First Potomac Realty Trust.

DEALTRACKER

SOUTH BEND, IN—Strawberry Fields REIT LLC, an owner and lessor of nursing homes, long-term acute care hospital facilities and medical office buildings in the Midwestern and Southern US, recently closed on a $4.4 million HUD guaranteed loan to refinance The Waters of Scottsburg, a 99-bed skilled nursing facility located in Scottsburg, IN, a suburb of South Bend. Strawberry Fields acquired the facility, which has a current occupancy of 69%, in 2014. The new loan has a 35-year term at 3.65% fixed interest. “We are known as a hands-on and active investor and worked closely with the property manager to make the necessary improvements to get this property where it should be and then secured the refinance,” says Moishe Gubin, chief executive officer of Strawberry Fields. The firm owns 57 facilities located in IL, IN, OH, TX, MI, TN, KY and OK.

BUILDING BLOCKS

LOMBARD, IL—McShane Construction Co. has just completed Apex 41, a 181-unit luxury apartment development of GlenStar Properties LLC. Located on a three-acre site at 2760 S. Highland Ave. in Lombard, IL, a western suburb of Chicago. The upscale property is just across the street from Yorktown Shopping Center mall. Apex 41 was constructed in a podium format with a five-story metal-framed residential component atop a two-story, 242-vehicle precast concrete parking deck. The complex incorporates a mix of studio, one- and two-bedroom units. “The I-88 corridor is home to a number of Fortune 500 companies and continues to attract large businesses making the area an increasingly desirable place to live,” says Jeffrey A. Raday, president of McShane. “Apex 41 provides a much needed rental option to the area's expanding young workforce who desire the amenities and locational benefits offered by this superior development.”