REBusinessOnline

Midwest

Bernard Financial Arranges $21.1M Loan for Refinancing of Office Property in Troy, Michigan

TROY, MICH. — Bernard Financial Group has arranged a $21.1 million loan for the refinancing of an office property in Troy, a northern suburb of Detroit. The multi-tenant complex consists of 149,976 square feet. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Liberty Investments LLC. A CMBS firm provided the loan.

February 17, 2017

DoubleTree Reopens After $3.5M Renovation in Pleasant Prairie, Wisconsin

PLEASANT PRAIRIE, WIS. — DoubleTree by Hilton Pleasant Prairie Kenosha has reopened after undergoing a $3.5 million renovation. The hotel is located at 11800 108th St. in Pleasant Prairie. The conversion and renovation of the 120-room hotel includes upgrades to the guest rooms, meeting spaces and public spaces, including the lobby, business center, fitness center and pool area. The hotel also includes an on-site restaurant and bar, The Chancery Bar & Grill. Business meetings and events..

February 17, 2017

TJ Maxx, Homegoods and Sierra Trading Post to Join Burlington at Shopping Center in Omaha, Nebraska

OMAHA, NEB. — The Lerner Co. has completed the retenanting of the vacant Kmart building at Eagle Run Shopping Center in Omaha. Kmart closed its 93,000-square-foot store in December 2014. TJ Maxx and HomeGoods will open later this year. Sierra Trading Post will open before the first quarter of 2018. Plans were previously unveiled for a 40,000-square-foot Burlington store to open this March. The shopping center, located at 132nd and West Maple roads, totals 415,000 square feet. Other big-box..

February 17, 2017

GHD Services Signs 24,480 SF Office Lease in Farmington Hills, Michigan

FARMINGTON HILLS, MICH. — GHD Services has signed a 24,480-square-foot office lease in Farmington Hills, west of Southfield. The company provides engineering, architecture, environmental and construction services for the water, energy, environment, property and transportation sectors. GHD will be located at 26850 Haggerty Road. John Fricke and Greg Hudas of Signature Associates represented the landlord, Michigan Five Office LLC, in the lease transaction. CBRE represented the tenant.

February 17, 2017

Essex Brokers Sale of Eight-Unit Apartment Building in Chicago

CHICAGO — Essex Realty Group Inc. has brokered the sale of an eight-unit apartment building in Chicago for $1.1 million. The building is located at 2020 N. Spaulding Ave. in Logan Square. The property is comprised of six three-bedroom units and two two-bedroom units. The undisclosed buyer plans to completely renovate the building. Jim Darrow and Jordan Gottlieb of Essex brokered the transaction.

February 17, 2017

PREIT to Replace Sears With Von Maur at Woodland Mall in Grand Rapids, Michigan

GRAND RAPIDS, MICH. — PREIT has unveiled plans to replace the Sears set to close in Woodland Mall with a 90,000-square-foot Von Maur store. This will be the first location for Von Maur in the Grand Rapids area. The portion of the mall to be redeveloped, consisting of Von Maur and additional retail and restaurant space, will open in 2019. Sears currently occupies 313,000 square feet and will close in March. Other tenants at the mall include Apple, Lush, North Face and Pottery Barn. Woodland..

February 16, 2017

Midas Hospitality to Build, Manage Home2 Suites in Overland Park, Kansas

OVERLAND PARK, KAN. — Midas Hospitality and sister company MC Hotel Construction are building a new Home2 Suites by Hilton in Overland Park. The 123-room hotel will be located at 7121 W. 135th St., which is the former site of a Smokehouse Bar-B-Que restaurant. The 65,000-square-foot hotel will offer suites with fully equipped kitchens, a fitness center, indoor pool and outdoor living area. Construction will begin in June and be completed by May 2018. Midas Hospitality will manage the..

February 16, 2017

Staples Expands Distribution Operations in Beloit, Wisconsin

BELOIT, WIS. — Staples has leased 136,000 square feet of industrial space at 1 Reynolds Drive in Beloit in southern Wisconsin. The company plans to relocate its larger bulk items to the new space, freeing up much-needed space at its distribution center in the Gateway Business Park also in Beloit. Staples will join TreeHouse Foods Inc., Axium Foods and Serta Mattress Co. at the 422,700-square-foot building. Only 18,000 square feet remain vacant and available for lease. Bill Mears of Coldwell..

February 16, 2017

KW Commercial Arranges Sale of Former K-Mart Property in Dundas, Minnesota

DUNDAS, MINN. — KW Commercial Midwest has arranged the sale of a former Kmart property located at 404 and 420 Schilling Drive North in Dundas, about 40 miles south of Minneapolis. The sales price was not disclosed. The one-story, 94,479-square-foot retail center was constructed in 1990 and sits on approximately 12 acres with high visibility to State Highway 3. The property consists of two adjoining buildings: the former Kmart store, vacated in April 2016, and the currently leased Sears..

February 16, 2017

Capital Electric Construction Signs 50,296 SF Industrial Lease in Kansas City

KANSAS CITY, KAN. — Capital Electric Construction Co. Inc. has signed a 50,296-square-foot industrial lease to consolidate its regional headquarters in Kansas City. The company currently operates out of the Rivergate Building at 600 Broadway as well as warehouse space on Dodge Street in the Fairfax District. The new location will house all local operations at 627 Adams St., and is expected to open in July. Bob Fagan, Matt Eckert and Joe Orscheln of CBRE represented Capital Electric..

February 16, 2017