im-properties-logo

October 2013 news archive

IM PROPERTIES TAKES TITLE TO LATEST MARIANO’S SUPERMARKET, CHICAGO


As part of its continuing Mariano’s supermarket development program in Chicago, IM Properties has taken title to its latest development at W Lawrence Avenue, Harwood Heights.

Harwood Heights is a densely populated suburb of Chicago, located 10 miles NW of the Downtown Loop and three miles East of O’Hare International Airport

The $25 million flagship store extends to nearly 73,000 square feet and is occupied on a 20 year lease.

Mariano’s Fresh Market is the new premium foods Chicago banner for Roundy’s Supermarkets Inc., a Midwest supermarket group with 161 stores in Wisconsin, Illinois and Minnesota.

Mariano’s is making a significant impact on the grocery market in Chicago and now has 11 stores in the city with two more store openings scheduled in 2013 and a further five in 2014.

Together with development partners Bradford Real Estate Corp., IM has been heavily involved in the growth of Mariano’s into Chicago since 2010 and has delivered four stores to date, with two more currently under construction. The IM/Bradford program is currently some 450,000 square feet.

Tim Wooldridge, Managing Director, IM Properties, said: ”We are once again delighted to have worked closely with both our partners Bradford and Roundy’s in the delivery of yet another flagship store. This is an exciting program for IM and we value our relationships with them both.”

THE GYM IS LATEST OCCUPIER AT IM PROPERTIES’ REFURBISHED PHOENIX HOUSE


The Gym, the UK’s fastest growing low-cost fitness chain, is the latest occupier to take space at IM Properties’ Phoenix House in Milton Keynes.

The 15,500 sq ft deal has been secured on a 15 year lease and represents the largest letting in the centre of Milton Keynes this year. 

The space is split across the ground and first floors, with the 2,300 sq ft ground floor unit to be converted into a reception and 13,200 sq ft on the first floor to hold the main gym.

The Gym, which is open 24 hours a day, will feature at least 170 pieces of high-tech equipment and free weights and when opened in early 2014, will take the number of UK sites to 41. 

The Gym is expected to open to the public by February 2014, following completion of landlord works and full fit-out by the occupier.

John Treharne, CEO of The Gym Group said: “The location and accessibility of Phoenix House were deciding factors for us when we were looking for a suitable location, as we operate around the clock and need to ensure that our members have the flexibility to work out any time of day or night.”

Phoenix House is located in Station Square, adjacent to Milton Keynes Central railway station, just minutes from the national motorway network. IM’s extensive refurbishment of the office accommodation has included new air conditioning, lighting, lifts, toilets and showers, a reception area and card access entry system, and a high ratio of secure car parking.

The property is surrounded by headquarters of blue chip companies including Santander and Network Rail.

Rob Hemus, Asset Manager, IM Properties, said: “The flexibility offered at Phoenix House has enabled The Gym to create a completely self-contained unit featuring full gym area and stand-alone reception, which will support their model of offering 24-hour access to customers. 

“We are continuing to see positive interest in Phoenix House as a location, which is testament to the quality of both the building itself and Milton Keynes as a business and leisure destination.”

Phoenix House is being jointly let by Louch Shacklock & Partners and Cushman & Wakefield with remaining space including circa 8,000 sq ft on the first floor and circa 4,000 sq ft on the ground floor.

For more details, please contact Jonathan Whittle at Louch Shacklock & Partners on 01908 224763, or Marcus Hayes at Cushman & Wakefield on 0121 232 4900. 

DANIEL BUTLER IS LATEST APPOINTMENT AT IM PROPERTIES


IM Properties has appointed Daniel Butler as Project Manager, providing additional support for its Development Team.

Daniel joins IM Properties from the Birmingham office of Colliers International, where he has spent 15 years developing his skills in the property industry.

Daniel is currently working on a number of properties across the UK, including sites in Edinburgh, Solihull and Bath. He said: “As a flexible and forward-facing company, IM Properties offers a diversity and scale across its portfolio that you can’t find anywhere else. The unique nature of the business means that we can identify opportunities and move on them incredibly quickly, even in the current, restrictive market.

“IM Properties has recently seen an increase in the number of projects coming to fruition with an element of construction delivery and I’m looking forward to the challenges and opportunities that these developments will bring.”

IM Properties is one of the UK’s privately-owned property investment and development businesses, based at the Coleshill Manor Estate in the West Midlands.

Jason Jasper, Project Director, IM Properties, said: “Daniel worked for IM properties in the past as a consultant, so we’re confident that he’s going to be a great fit for the business and will be able to provide us with exactly the kind of support needed for the ever increasing and varied projects we are involved in.

“Despite a difficult climate, our Development arm has seen sustained growth over recent years and Daniel’s appointment will be a key part of ensuring that we are ready to meet the on-going demands of the market.”

IM Properties is currently handling around 1,000 acres of development sites across the UK and has recently acquired the Mell Square shopping centre in Solihull and The Hub in Birmingham.

IM PROPERTIES PICKS UP SECOND AWARD IN A WEEK, BEING NAMED IAS DEVELOPER OF THE YEAR 2013



IM Properties, one of the UK’s largest privately owned property companies, is celebrating its second award win in a week, after it was named the Industrial Agents Society (IAS) Developer of the Year 2013.

Over 400 guests from the UK property industry attended the event, which took place at Park Lane Hotel in London’s Mayfair, to celebrate best practice and recognise key achievements by companies operating in the sector.

The Developer of the Year award is the pinnacle of the IAS Award ceremony. It follows IM Properties decision to speculatively construct 2 units totalling 334,500 sq.ft. at Birch Coppice Business Park, the first major speculative industrial development since 2008 and the acquisition of 52 acres of employment land at The Hub, Birmingham, and 10 acres at Solihull Business Park.

The award follows hot on the heels of another prestigious title, as just over a week ago IM Properties were named West Midlands Property Company of the Year by Estates Gazette

Tim Wooldridge, Managing Director of IM Properties said: “We’ve had a really great week, culminating in this latest award.

“We’re extremely pleased and honoured to have been named Developer of the Year by the IAS, and would like to thank all of those that voted for us and also everyone who has been involved in our projects”.