REBusinessOnline

Midwest

Ready Capital Provides $8.9M Loan for Refinancing of Retail Property in Livonia, Michigan

LIVONIA, MICH. — Ready Capital Structured Finance has provided an $8.9 million loan for the refinancing of Northridge Commons in Livonia, about 20 miles west of Detroit. The 119,000-square-foot retail property is located at 33523 W. Eight Mile Road. Kroger anchors the property. A portion of loan proceeds will be used to build out space for a recently completed lease with a local gym tenant. The non-recourse loan features a 36-month term with two extension options. The borrower was not..

July 26, 2017

Marcus & Millichap Arranges Sale of 68,840 SF Self-Storage Facility in Wayne, Michigan

WAYNE, MICH. — Marcus & Millichap has arranged the sale of EZ Storage in Wayne, about 25 miles west of Detroit. The sales price was not disclosed. The 68,840-square-foot self-storage facility is located at 34333 East Michigan Ave. The property consists of 588 units, 251 of which are climate-controlled. Brett R. Hatcher and Gabriel Coe of Marcus & Millichap’s marketed the property on behalf of the seller, a limited liability company. The team also procured the buyer, a limited..

July 26, 2017

ICI Completes Construction of 61,940 SF Jewel Osco in Deerfield, Illinois

DEERFIELD, ILL. — ICI has completed the construction of a 61,940-square-foot Jewel Osco in Deerfield. The grocery store is located at the corner of Waukegan and Lake Cook roads. The store was built between an existing strip center. The new Deerfield store features an updated look with a juice bar, customer seating area, sushi section and expanded departments. This store marks the ninth project ICI has completed for Jewel Osco. A ribbon-cutting ceremony for the store’s opening took place on..

July 26, 2017

Flex-N-Gate Signs 24,165 SF Office Lease in Sterling Heights, Michigan

STERLING HEIGHTS, MICH. — Flex-N-Gate Corp. has signed a 24,165-square-foot office lease in Sterling Heights. The building is located at 35819 Mound Road in Liberty Place, a five-building office campus. Illinois-based Flex-N-Gate manufactures products for the automotive industry. L. Mason Capitani CORFAC International arranged the five-year lease transaction.

July 26, 2017

Orthopedic Institute of Wisconsin Signs 9,573 SF Medical Office Lease in Wauwatosa, Wisconsin

WAUWATOSA, WIS. — The Orthopedic Institute of Wisconsin has signed a 9,573-square-foot lease at a three-story office building to be redeveloped in Wauwatosa. HSA Commercial Real Estate owns the building, located at 3077 Mayfair Road. The Orthopedic Institute will open a 7,125-square-foot flagship clinic in the western portion of the building’s ground level with a patient drop-off area and parking. The institute, which will also utilize space on the building’s third level for..

July 26, 2017

NorthPoint Capital Arranges $65.5M Loan for Refinancing of Industrial Portfolio in Indiana

INDIANAPOLIS, PORTAGE AND SOUTH BEND, IND. — NorthPoint Capital Funding Inc. has arranged a $65.5 million loan for the refinancing of a 15-property industrial portfolio in Indiana and Tennessee. The assets are located in Indianapolis, Portage and South Bend, Indiana, as well as Nashville. A mix of 36 tenants specializing in manufacturing or warehouse and distribution occupy the properties. The 10-year loan enabled the borrower, Holladay Properties, to retire multiple bank loans while forming..

July 25, 2017

Horizon Global to Open 512,000 SF Industrial Facility at LPKC in Edgerton, Kansas

EDGERTON, KAN. — Horizon Global has unveiled plans to open a 512,000-square-foot distribution facility in Logistics Park Kansas City (LPKC) in Edgerton. Construction is nearing completion on the facility, which is expected to create more than 120 new jobs. Horizon Global’s new home will be located in Inland Port XXXII. NorthPoint Development serves as the master developer for LPKC, a 1,700-acre master-planned distribution and warehouse development anchored by BNSF Railway’s newest..

July 25, 2017

Morgan/Harbour Completes Construction of 41,100 SF Office, Warehouse Facility in Buffalo Grove, Illinois

BUFFALO GROVE, ILL. — Morgan/Harbour Construction has completed a new 41,100-square-foot office and warehouse headquarters for ThermFlo Inc. and its sister company, Zonatherm Products Inc., in Buffalo Grove. Situated on 4.3 acres and located at 875 Busch Parkway in the Corporate Grove Industrial Park, the facility features an open office concept with workstations, private executive offices, conferencing spaces, a seminar room, full-glass product showroom, lunchroom, 20-foot clear height..

July 25, 2017

Hilliker Corp. Brokers $1.5M Sale of Office Building in St. Louis

ST. LOUIS — Hilliker Corp. has brokered the sale of a 33,000-square-foot office building in St. Louis for $1.5 million. The Little Bit Foundation, a St. Louis-based nonprofit organization that provides basic needs for children living in poverty, purchased the property for its new headquarters. A commercial construction company previously occupied the building and will continue to occupy a portion of the property, located at 516 Hanley Industrial Court. Hal Ball and Brennan Gaffney of Hilliker..

July 25, 2017

Cohn Commercial Arranges Sale of 30,000 SF Shopping Center in Westland, Michigan

WESTLAND, MICH. — Cohn Commercial Properties Inc. has arranged the sale of a 30,000-square-foot shopping center in Westland, about 16 miles west of Detroit. The sales price was not disclosed. The property is located at 35700 W. Warren Road across from Westland Mall. Prime Healthcare Services-Garden City LLC purchased the property from MI Westland Retail Center LLC. Cohn Commercial brokered the transaction on behalf of both parties.

July 25, 2017