REBusinessOnline

$100M Academic, Housing Complex Opens at University of Illinois Chicago Campus

CHICAGO — A $100 million academic building and residence hall has opened at the University of Illinois at Chicago (UIC) known as the Academic and Residential Complex. The property is home to a two-story, 54,000-square-foot academic building as well as a 10-story residence hall featuring 548 beds. The complex features 16,000 square feet of shared spaces, including study lounges on each floor, a fitness center, laundry facility and 10th-floor sky lounge. A 1,600-square-foot retail area includes …

Eastern Union Arranges $17.9M Acquisition Financing for Industrial Portfolio in Iowa

IOWA — Eastern Union has arranged $17.9 million in acquisition financing for the Magna International portfolio, a collection of four automobile parts manufacturing facilities spanning 600,000 square feet throughout Iowa. Toronto-based Granite REIT America sold the portfolio to New York-based Beau Pere Real Estate LLC. Abe Kolman of Eastern Union arranged two loans with Bank of the West. The loan-to-value ratio was 75

Sansone Group Acquires 424,849 SF Industrial Building in Indianapolis

INDIANAPOLIS — Sansone Group, in partnership with CenterSquare Investment Management, has acquired a 424,849-square-foot industrial building located at 7520 Georgetown Road in Indianapolis. The purchase price was not disclosed. The property is part of a larger master-planned industrial park. The building features 19,417 square feet of office space, 37 dock doors, 43 trailer parking stalls and 594 car parking spaces. Vince Bajardi and Jake Corrigan of St. Louis-based Sansone represented the …

NorthMarq Arranges $8.1M Acquisition Loan for Multifamily Portfolio in Metro Cincinnati

CINCINNATI — NorthMarq has arranged an $8.1 million loan for the acquisition of an 11-property multifamily portfolio located in metro Cincinnati. The properties range in size from eight to 58 units with a total unit count of 337. Noah Juran of NorthMarq arranged the loan with a local bank on behalf of the undisclosed borrower. The 10-year, fixed-rate loan has a 30-year amortization

Five-Building Office Park in Wisconsin Trades Hands for $2.7M

MOUNT PLEASANT, WIS. — Marcus & Millichap has brokered the sale of Warwick Business Court in Mount Pleasant for $2.7 million. The five-building, 24,600-square-foot office park is located at 1151 Warwick Way near I-94 and about five miles west of Racine. Concentra Urgent Care, DaVita Dialysis and Aurora Health Care are the major tenants in the office park. Alex Sacks, Brett Rodgers and Frank Roti of Marcus & Millichap represented the seller and procured the buyer, a Canada-based …

KeyBank Provides $43M Refinancing for Multifamily Portfolio in Chicago

CHICAGO — KeyBank Real Estate Capital has provided a $43 million Fannie Mae loan for the refinancing of a portfolio of nine multifamily buildings in Chicago known as Maynard at Elaine. The portfolio includes two adjacent parking lots comprising 101 spaces. The borrower, CLK Properties, purchased the portfolio in 2015 and completed a $9 million capital improvement plan. CLK’s management company manages the buildings. Erik Storz of KeyBank originated the loan. CLK is participating in the …

Conor Commercial Begins Development of 150,000 SF Spec Industrial Building in Prospect Heights, Illinois

PROSPECT HEIGHTS, ILL. — Conor Commercial Real Estate has begun development of Executive Commerce Center in Prospect Heights. The 150,000-square-foot speculative industrial building will sit on 10 acres and feature a 32-foot clear height, 25 truck docks, two drive-in doors and parking for 165 cars. Completion is slated for the end of this year. McShane Construction Co. is the general contractor and Ware Malcomb is the architect. Denise Chaimovitz and Sean Sloan of Paine Wetzel are marketing …

StorageMart Expands Climate-Controlled Facility in Des Moines

DES MOINES, IOWA — StorageMart has expanded its facility located at 1800 E. Army Post Road in Des Moines. The self-storage property now includes two climate-controlled buildings with 155 units. Both buildings feature large drive-in loading bays. StorageMart also expanded the office area, which now offers a variety of packing and moving supplies. The expanded facility also includes 25 additional boat, recreational vehicle and car parking spots on newly paved

Modern Builders Supply Signs 125,000 SF Industrial Lease in Toledo, Ohio

TOLEDO, OHIO — Modern Builders Supply Inc. has signed a 125,000-square-foot industrial lease at 4100 Bennett Road in Toledo. The locally based company, which was founded in 1944 and distributes name-brand roofing, siding, windows and doors, has more than doubled its warehouse space with this new lease. Lynette Reichle of Reichle Klein Group represented the tenant in the lease transaction. Ronald Jurgenson of Reichle Klein represented the landlord, I.B.C.

SVN |Stewart Commercial Negotiates $3.8M Sale of Ann Arbor Industrial Property

ANN ARBOR, MICH. — SVN |Stewart Commercial Group LLC has negotiated the sale of a 46,356-square-foot industrial property in Ann Arbor for $3.8 million. The building, located at 5500 S. State St., is net leased to Adaptive Energy LLC, a fuel cell manufacturer. Dan Stewart of SVN |Stewart marketed the property on behalf of the seller, MiPlace LLC. He also procured the buyer, JPL Ventures

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