Real Estate Journal — July 12 - 25, 2019 — 3A


M id A tlantic

M id A tlantic R eal E state J ournal

URNEE, IL — Cen- terPoint Proper- ties announced an CBRE represents lessor and lessee in the 190,380 s/f transaction CenterPoint signs lease with Luxor, Prime Logistics Destination in Gurnee, Illinois G out to expand Luxor’s office needs.

just 30 minutes from O’Hare International Airport and eas- ily accessible via the four-way interchange at Grand Ave./ Rte. 132 and I-94.” Matt Yang , CenterPoint manager of development transactions, said, "We're glad we could provide this logistics solution for Luxor. This is an exceptional warehouse facil- ity that has been built from the ground up and is being customized to meet their ex- pansion needs.” CBRE represented both Luxor and CenterPoint in the transaction. 

The Gurnee facility, which is expected to be completed in September 2019, is located on a 9.88-acre site and includes 7,000 s/f of office space. Ad- ditional building features include 36ft clear height, 19 trailer stalls, 195 auto parking stalls, 20 docks, LED light- ing and an ESFR sprinkler system. “The location of this class A facility is a prime logistics des- tination,” said BrianMcKier- nan , CenterPoint senior vice president of development. “It’s

88-month lease with Luxor Workspaces, LLC for a 190,380 s/f speculative facility located at 1001 Tri-State Parkway in Gurnee, IL. This building will provide Luxor with additional warehouse space, as they have outgrown their current facilities due to an increase in consumer demand. "We selected CenterPoint as a strategic partner for this space because of their deep understanding of design for modern warehousing and logistics,” said Paul Roche, president at Luxor. Sk i l l ed nur s i ng portfolio sold by IPA Seniors Housing NEW JERSEY & PENN- SYLVANIA — Institutional Property Advisors (IPA) , a division of Marcus & Mil- lichap , announced the sale of three DePaul Health Care nursing homes, one in New Jersey and two in the Phila- delphia MSA. Paramount completed the financing and closing of this transaction with the assistance of Lazmor Cap- ital and Ziegler Investment Banking . The brokers in- volved were Mark Myers and Joshua Jandris , both of IPA. Paramount owns and operates skilled nursing facilities (SNF) in New York, New Jersey, Pennsylvania, and Maryland All three facilities were owned and operated by the DePaul family, a Philadel- phia developer of residential communities and health care businesses including medical office buildings and SNFs. IPA identified the ideal buyer for the portfolio and navigated through the challenges of sell- ing facilities for the DePaul family who built and owned the communities for decades. At the time of the sale, the facilities were operating at breakeven. However, the new operator will implement improved market- ing and services to enhance the census and census mix while simultaneously creating staff- ing efficiencies, all of which will increase earnings. The facilities in this sale are: Angela Jane Pavilion, a 49-bed SNF in Philadelphia; River’s Edge, a 120-bed SNF in Philadelphia; and Absecon Pavilion, a 162-bed SNF in Absecon, NJ. 

and 30,000 s/f of warehouse space, and in Birmingham, AL, with 150,000 s/f of ware- house space. The Waukegan warehouse operations will be relocated to Gurnee, and the Waukegan facility will be built

Luxor, a division of EBSCO Industries, manufactures a range of furniture and prod- ucts for education, business, healthcare and industrial uses. They currently operate in Waukegan, IL, with offices

Former College Campus in Connecticut Sells to the Highest Bidder at Auction Above the Opening Bid of $5,000,000 SOUTHINGTON, CT • 2279 Mount Vernon Road 32.75+/- acres with 113,000+/- sf in 7 buildings with potential for residential school campus, corporate training facility and more! Includes administrative offices, classrooms, labs, dormitories, recreational center and a 24/7 security station. Located minutes from I-84, 20 minutes from Hartford, 40 minutes from Bradley International Airport, 2 hours from Boston and 2 hours from New York City.

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Mid Atlantic Real Estate Journal

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