Repurpose Archives - VRJ Properties https://vrjproperties.com/tag/repurpose/ Multifamily and Commercial Real Estate Investments Sat, 01 Feb 2025 05:49:15 +0000 en-US hourly 1 https://vrjproperties.com/wp-content/uploads/cropped-favicon-512x512-1-32x32.png Repurpose Archives - VRJ Properties https://vrjproperties.com/tag/repurpose/ 32 32 Realm to Repurpose Distressed Nashville Property https://vrjproperties.com/realm-to-repurpose-distressed-nashville-property/ Fri, 31 Jan 2025 14:50:06 +0000 https://vrjproperties.com/realm-to-repurpose-distressed-nashville-property/ Investment firm Realm recently paid $15 million for downtown’s Parkway Towers and Court Square Building. Wheelock Street Capital sold the two buildings at a combined loss of approximately $26 million. Wheelock paid $33.5 million for the 21-story Parkway Towers in October 2019...

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Investment firm Realm recently paid $15 million for downtown’s Parkway Towers and Court Square Building.

Wheelock Street Capital sold the two buildings at a combined loss of approximately $26 million. Wheelock paid $33.5 million for the 21-story Parkway Towers in October 2019 and $8.25 million for the neighboring Court Square Building in June 2022.

The Nashville Business Journal reports the firm is planning to convert the 218,000-square-foot Parkway Towers building into apartments or a hotel.

The two office buildings, 404 and 300 James Robertson Parkway are on a 1.28-acre site near the Tennessee State Capitol.

A week before, Wheelock sold downtown’s Philips Plaza tower to local investors Byran Fort and Taylor Preston at a $94 million loss. This month, a Maryland Farms office building was sold at a foreclosure auction at a $18.5 million loss.



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]]> DarwinPW/CORFAC Brokers Industrial Sale For Repurpose https://vrjproperties.com/darwinpw-corfac-brokers-industrial-sale-for-repurpose/ Thu, 25 Jan 2024 23:26:58 +0000 https://vrjproperties.com/darwinpw-corfac-brokers-industrial-sale-for-repurpose/ DarwinPW Realty/CORFAC International Vice President Terry Lynch recently represented JLO Metal Products in its disposition of a 93,911-square-foot building at 5841 W. Dickens Avenue in Chicago to Elite Auto Corporation. The former manufacturing facility will be repurposed into a car...

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DarwinPW Realty/CORFAC International Vice President Terry Lynch recently represented JLO Metal Products in its disposition of a 93,911-square-foot building at 5841 W. Dickens Avenue in Chicago to Elite Auto Corporation. The former manufacturing facility will be repurposed into a car sales business.

“It’s great to see a growing business expand its presence in Chicago by repurposing a former manufacturing facility,” Lynch says. The building is a World War II-era manufacturing facility with heavy power and bus ducts throughout its previous uses. Zoned for industrial use, 5841 W. Dickens has four docks and one drive-in door. It has off-street parking for the new owner’s employees and customers.

Elite Auto Corporation is expanding from its successful location in Logan Square. The Galewood neighborhood offers access to customers on the west side and in the near west suburbs. Avison Young’s Steve Kohn represented the buyer.

Connect Industrial Midwest 2024 will take place on March 5, 2024, at Joe’s Live in Rosemont, Illinois. Click here for more information and to register.

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