DETROIT—The Urban Land Institute will put innovative city building front and center at its 2018 Spring Meeting, set for May 1-3 at the Cobo Center in downtown Detroit. A major focus will be the reinvention of urban areas into thriving places that draw talented workers and businesses and become magnets for investment. As reported in GlobeSt.com, the Detroit metropolitan area, which is experiencing an extraordinary renaissance, is a prime example of this urban evolution. The spring meeting routinely draws nearly 3,000 of ULI's members, including industry experts from around the world sharing insights on all aspects of real estate. Members will discuss a wide range of urban issues including housing affordability, gentrification, social equity, technology advancements, and demographic shifts, all with a focus on the short- and long-term implications for cities.

COLUMBUS—Several professionals of Newmark Knight Frank's Columbus office were recently honored with numerous awards from Columbus REALTORS®. Each year the organization recognizes sales and transaction excellence among its members for the prior year. The awards were announced at an event held on March 8^th at Le Méridien Columbus, The Joseph: director Steve Siegel (pictured) and associate Larry Lehring, both of the retail services group, were awarded the 2017 Largest Commercial Retail Lease in recognition for representing Lincoln Village Shopping Center in its negotiations of a 27,127-square-foot lease at 4740 W. Broad St. in Columbus; associate Derek Lichtfuss was awarded the 2017 Rookie of the Year award; and, executive managing directors Wayne Harer and Brent Stamm, were recognized as Top Producers.

CHICAGO—Alex Frei has joined CBRE Group, Inc. as its incentives practice group on its transaction and advisory services team in Chicago as senior vice president. Frei brings more than 10 years of experience in incentives consulting to CBRE, most recently as senior managing director with Cushman & Wakefield's business incentives practice, where he negotiated more $1 billion in state and local incentive packages for major corporations. “Adding someone of Alex's caliber to our team is a huge win for our firm and our clients,” says Jim Carris, senior managing director for CBRE's Chicago region operations. “He is one of the nation's top site selection and incentives professionals and will undoubtedly utilize our robust platform to deliver best-in-class results.”

DEALTRACKER

BOYNE FALLS, MI—Boyne Resorts recently signed an agreement with Ski Resort Holdings, LLC, an affiliate of Oz Real Estate, to acquire six mountain resorts and a scenic chairlift attraction currently leased by the resort company. Boyne, the third largest mountain resort company in North America, has a 70-year history in the ski industry. Included in the transaction are Brighton Resort in Big Cottonwood Canyon near Salt Lake City, UT; Cypress Mountain in Vancouver, BC; Gatlinburg Sky Lift in Gatlinburg, TN; Loon Mountain in NH; Sugarloaf and Sunday River resorts in ME; and The Summit at Snoqualmie near Seattle. The parties expect the transaction to close later this year well ahead of the 2018/19 ski season. “Our intention all along has been to regain and acquire ownership of these resorts,” says Stephen Kircher, president and chief executive officer of Boyne Resorts. “Boyne Resorts has been a long-term operator of these assets—some for decades. This transaction therefore poses no business interruption or integration risk.”

CHICAGO—A multi-market investment sales team from Cushman & Wakefield represented Blackstone Real Estate Income Trust in its $1.805 billion acquisition of a Cabot Properties' portfolio primarily concentrated in core US industrial markets. The portfolio consists of 146 last-mile infill warehouses and distribution buildings with major concentrations in Chicago, Dallas, Baltimore/Washington, DC, Los Angeles/Inland Empire and South/Central FL. C&W officials say the assets are of high physical quality and in attractive locations, and the portfolio features a strong, creditworthy tenant mix including Amazon, FedEx, DHL, Coca-Cola, Fiat Chrysler and the US government. The C&W team representing BREIT included James Carpenter, Chicago-based executive managing director; Jeff Chiate, Irvine, CA-based executive managing director; Jud Clements, Dallas-based executive managing director; Mike Davis, a vice chairman based in Tampa; Stewart Calhoun, Atlanta-based executive managing director; and Gary Gabriel, a NJ-based executive managing director. CBRE and Eastdil Secured represented Cabot.

CHICAGO—Bluemercury has signed a lease for two Randolph St. storefronts at 900 West, Tucker Development Corp.'s multi-building, mixed-use development in the Fulton Market District of Chicago's West Loop. The luxury beauty retailer, whose locations offer an array of cosmetics products and in-store spa treatments, will fill an 1,800-square-foot space at the corner of Sangamon and Randolph streets, with an anticipated summer 2018 opening. “At 900 West, we sought to preserve and restore these late-1800s buildings, keeping with the character of the historic Fulton Market District while adapting them for modern use,” says Richard Tucker, chief executive officer of Tucker. Completed in 2017, 900 West is a renovation of 10 historic low-rise buildings on the 900 block of W. Randolph St., with frontage on Randolph, Sangamon and Lake streets. Together, they comprise 45,000 square feet of retail at street level. Bluemercury joins Lululemon and Bonci Pizza, both of which opened at 900 West last year.

CHICAGO—Colliers International I Chicago recently represented Ramboll, a Danish engineering, design and consultancy company, in its 19,910-square-foot lease consolidation at 333 W. Wacker Dr. The lease represents a 26% reduction in space from its current 27,142 square feet. The Colliers team, together with Whitney Architects, reviewed Ramboll's workplace standards and subsequently reconfigured their layout for more efficient operations and to better meet business needs and conform to Ramboll's corporate standards. Colliers' Dan Arends, principal, and Dougal Jeppe, senior vice president, and Tim Hart, senior vice president, represented the tenant in the transaction.

BUILDING BLOCKS

BELTON, MO—Salina Hotel Group will break ground on its new 83-room, four-story Fairfield Inn & Suites at 9:30 a.m. on Friday, March 16. The 48,000-square foot hotel will be located just north of Hwy. 58 between Mullen Rd. and I-49 in Belton, MO. “This new hotel is in response to ongoing residential and commercial growth in Belton and surrounding Cass County,” says Alexa Barton, Belton's city manager. “Located just west of I-49 and south of the CenterPoint Intermodal Center, this hotel project will serve an unmet need for quality hotel space in Belton and the surrounding region.” Project partners include City of Belton; Belton Economic Development; and Salina Hotel Corp.